Archive for the 'Economy' Category
One in Five Children in New York City Relying on Emergency Food Aid
February 4th, 2010Via: NBC New York: One in eight Americans needed emergency food help in 2009—–one of five children in New York City are relying on emergency food. These sad statistics come from Feeding America and the Food Bank for New York City. “Food insecure” is the bureaucratic term for hungry people — and New York is, […]
Moody’s Warns U.S. of Credit Rating Fears
February 4th, 2010Via: Financial Times: Moody’s Investors Service fired off a warning on Wednesday that the triple A sovereign credit rating of the US would come under pressure unless economic growth was more robust than expected or tougher actions were taken to tackle the country’s budget deficit. In a move that follows intensifying concern among investors over […]
GOOGLE NOW WORKING WITH NSA
February 4th, 2010Via: Washington Post: The world’s largest Internet search company and the world’s most powerful electronic surveillance organization are teaming up in the name of cybersecurity. Under an agreement that is still being finalized, the National Security Agency would help Google analyze a major corporate espionage attack that the firm said originated in China and targeted […]
The Dollar: I Don’t Try to Divine Much Meaning From the Squiggly Wigglies
February 4th, 2010Short to medium outlook dollar bears and gold bulls: Stay the course as long as the downtrending channel on the USDX remains intact. Keep in mind, however, that a move up and out of the downtrending channel on the USDX above could mean substantial pain in the weeks and months ahead for dollar bears and […]
Bernanke Says Federal Reserve Faces ‘Enormous Challenges’
February 4th, 2010Slather on an extra layer of warpaint on Maria Bartiromo and let’s hear more about the jobless recovery and the green shoots. Via: Bloomberg: Federal Reserve Chairman Ben S. Bernanke told his staff today that the U.S. central bank faces “enormous challenges” as he was sworn in for a second four- year term. “This institution, […]
And Now: Unemployment Data Worse Than Previously Stated
February 4th, 2010I’m sure everyone is shocked. * duh * * drool * Via: Bloomberg: The U.S. may lose 824,000 jobs when the government releases its annual revision to employment data on Feb. 5, showing the labor market was in worse shape during the recession than known at the time.
Ron Paul Warns of Social Unrest and Martial Law
February 3rd, 2010More Homeowners Walk Away
February 3rd, 2010Consult a lawyer before carrying out your coup de grâce: Banksters Fight Back: Deficiency Judgments. Via: New York Times: In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040. “People like […]
Deficits May Alter U.S. Politics and Global Power
February 3rd, 2010Via: New York Times: In a federal budget filled with mind-boggling statistics, two numbers stand out as particularly stunning, for the way they may change American politics and American power. The first is the projected deficit in the coming year, nearly 11 percent of the country’s entire economic output. That is not unprecedented: During the […]
China Threatens U.S. Sanctions Over Arms Sale
February 3rd, 2010Via: Sydney Morning Herald: China will erect trade sanctions against Boeing and other large US companies unless the US Congress blocks the Obama administration’s planned $US6.4 billion ($7.2 billion) weapons sales program to Taiwan, a senior defence strategist said. Rear Admiral Yang Yi told the Herald yesterday China was prepared to hurt itself in order […]
