Archive for the 'Economy' Category
Australia’s Largest Ever Export Deal: Coal to China
February 8th, 2010Via: ABC: Queensland billionaire Clive Palmer has signed a deal to sell millions of tonnes of coal to China in what’s believed to be Australia’s largest export contract. Mr Palmer says the $69 billion, 20-year offtake deal was signed last Friday with China Power International. Another $8.6 billion agreement was signed with the Metallurgical Corporation […]
Geithner Says U.S. Will ‘Never’ Lose AAA Debt Rating
February 8th, 2010Well, there you have it! HA Via: Bloomberg: Treasury Secretary Timothy F. Geithner said the U.S. is in no danger of losing its Aaa debt rating even though the Obama administration has predicted a $1.6 trillion budget deficit in 2010. “Absolutely not,” Geithner said, when asked in an ABC News interview broadcast yesterday whether a […]
Audi 2010 Green Car Super Bowl Commercial
February 8th, 2010Greece ‘Dress Rehearsal’ for U.S.
February 6th, 2010Via: Bloomberg: The cost of insuring against U.S. and U.K. debt defaults may rise in the same way as it has for so- called European peripheral nations including Greece and Portugal, Deutsche Bank AG said. “The problems currently faced by peripheral Europe could be a dress rehearsal for what the U.S. and U.K. may face […]
Secret Meeting of Top Bankers in Australia
February 6th, 2010Via: Herald Sun: THE world’s top central bankers began arriving in Australia yesterday as renewed fears about the strength of the global economic recovery gripped world share markets. Representatives from 24 central banks and monetary authorities including the US Federal Reserve and European Central Bank landed in Sydney to meet tomorrow at a secret location, […]
Cryptogon Readers Send Contributions
February 5th, 2010Thank you. VCHC €30 BF AU$20 MC $10
Ex-BofA Chief Lewis Charged with Fraud
February 5th, 2010Via: CNN: New York Attorney General Andrew Cuomo said Thursday it was bringing civil charges against senior Bank of America executives, including former company CEO Ken Lewis, for their role in the company’s controversial purchase of Merrill Lynch. Separately, the Securities and Exchange Commission said it had struck a $150 million settlement agreement with BofA […]
Potential for Financial Emergency in Europe
February 5th, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Update: Dollar: Next Leg Up 80.240 —End Update— We need to watch Portugal, Spain and Greece closely. The sovereign debt situation could easily get out of control. I’m watching EUR/USD as the proxy for the situation. On faster intraday periods, EUR/USD […]
Next in Line for a Bailout: Social Security
February 4th, 2010Via: Fortune: Don’t look now. But even as the bank bailout is winding down, another huge bailout is starting, this time for the Social Security system. A report from the Congressional Budget Office shows that for the first time in 25 years, Social Security is taking in less in taxes than it is spending on […]
Gold Hits Three Month Low; EUR/USD Seven Month Low
February 4th, 2010Via: Reuters: Gold tumbled 3.8 percent to a three-month low in Europe on Thursday as the euro hit its weakest in seven months against the dollar, pushing the precious metal through key technical support levels. Other precious metals also fell, with silver sliding more than 5 percent to its lowest since September, platinum dropping more […]
