Archive for the 'Economy' Category
White House to Paint Grim Fiscal Picture
February 1st, 2010For a much more meaningful translation of the story below, see: America’s Impending Master Class Dictatorship: One stark and sobering way to frame the crisis is this: if the United States government were to nationalize (in other words, steal) every penny of private wealth accumulated by America’s citizens since the nation’s founding 235 years ago, […]
Allstate May Shed 20% of Its Agents
February 1st, 2010Long ago, I used Allstate for car insurance because my parents did. After two years of thinking, God damn, this is expensive, I shopped around and found a much better policy for half the cost. I told my new insurance agent how Allstate was screwing me and she wanted to put me on their radio […]
Bailouts Created More Risk in System
February 1st, 2010Via: AP: The government’s response to the financial meltdown has made it more likely the United States will face a deeper crisis in the future, an independent watchdog at the Treasury Department warned. The problems that led to the last crisis have not yet been addressed, and in some cases have grown worse, says Neil […]
China Threatens Sanctions Over U.S. Arms Sale to Taiwan
January 31st, 2010Via: Los Angeles Times: Angered by a $6 billion U.S. arms sale to Taiwan, Beijing puts security exchanges with U.S. on hold and threatens sanctions against U.S. firms selling to Taipei. The Chinese government Saturday announced a series of harsh retaliatory measures in protest of the Pentagon’s $6-billion arms sale to Taiwan, including a suspension […]
Big FDIC Friday: Banks Fail in California, Georgia, Florida, Minnesota and Washington
January 30th, 2010Via: AP: Regulators shut down a big bank in California on Friday, along with two banks in Georgia and one each in Florida, Minnesota and Washington. That brought to 15 the number of bank failures so far in 2010 atop the 140 shuttered last year in the punishing economic climate. The failure of Los Angeles-based […]
DOE Lends Nissan $1.4 Billion to Produce Electric Vehicles in U.S.
January 29th, 2010Via: Wired: At today’s press conference at The Washington Auto Show, Department of Energy Secretary Steven Chu had something to say about electric vehicles, and how the U.S. government would approach aiding EV manufacturers. Although it was originally thought that announcement would concern the loans that Tesla, Fisker et al have received, the surprise announcement […]
Actual Bloomberg Headline: “Secret Banking Cabal Emerges From AIG Shadows”
January 29th, 2010When you’re one step ahead of the crowd you’re a genius. When you’re two steps ahead, you’re a crackpot. –Rabbi Shlomo Riskin, Lincoln Square Synagogue, Feb. 1998 (Arizona Jewish Post; Sept. 18, 1998; p. B-10.) Via: Bloomberg: The idea of secret banking cabals that control the country and global economy are a given among conspiracy […]
UK Economy Lies ‘On Bed of Nitroglycerine’
January 29th, 2010Via: Guardian: The government’s hopes of claiming credit for reviving the British economy suffered a severe blow today when the world’s biggest buyers of bonds warned that the UK was a “must to avoid” for his investors as its debt was “resting on a bed of nitroglycerine”. The intervention by Bill Gross, co-founder of California-based […]
Bernanke Confirmed by Senate for 2nd Term as Fed Chairman
January 29th, 2010Via: Washington Post: The Senate on Thursday confirmed Ben S. Bernanke for a second term as Federal Reserve chairman, but he scraped by with the narrowest margin in the history of the position and his weakened political standing could weigh on the central bank’s ability to maneuver for years to come. The Senate voted 70 […]
Euro Falls to Lowest in More Than Six Months on Greece’s Crisis
January 29th, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The squiggly wigglies told the tale in advance: There is an uptrending support line on the USDX that goes back to March 2008. The USDX is subtly indicating that it is going to bounce off of that support. Via: Bloomberg: The […]
