Archive for the 'Economy' Category
U.S. FOOD STAMP PROGRAM EXPANDING BY 20,000 PEOPLE PER DAY
November 29th, 2009Via: UPI: The stigma of food stamps is fading amid record use of the U.S. nutrition program, which now feeds more than 36 million people, officials said. “I think the response of the program has been tremendous,” said Kevin Concannon, an under secretary of agriculture, “but we’re mindful that there are another 15, 16 million […]
Bankers from Rothschild Involved with Dubai Collapse
November 29th, 2009Via: Telegraph: Paul Reynolds, head of Rothschild’s advisory operations in the Middle East, was this week asked to work for the Dubai government’s chief restructuring officer alongside Aidan Birkett of Deloitte, who was appointed on Wednesday. The team is tasked with assessing the group’s assets, which is likely to result in a large scale sell-off […]
Reporter Associated with Bloomberg Lawsuit Against Federal Reserve Dies
November 29th, 2009Via: Bloomberg: Mark Pittman, the award-winning investigative reporter whose fight to open the Federal Reserve to more scrutiny led Bloomberg News to sue the central bank and win, died Nov. 25 in Yonkers, New York. He was 52. Pittman suffered from heart-related illnesses. The precise cause of his death wasn’t known, said his friend William […]
UAE Central Bank Intervention In Dubai Debt Debacle Imminent
November 29th, 2009Via: Wall Street Journal / Dow Jones: DUBAI (Zawya Dow Jones)–The Abu Dhabi-based Central Bank of the United Arab Emirates is expected to announce before U.A.E. stock markets open Monday that it will guarantee Dubai World debt to help protect local lenders from potential losses amid rising anxiety among investors, people briefed on the matter […]
UAE Faces Up to $184 Billion Total Debt
November 29th, 2009Via: Reuters: The United Arab Emirate (UAE) has total debt amounting to $184 billion at the end of 2009, according to estimates by Bank of America-Merrill Lynch, which said the region faces a heavy redemption schedule until 2013. Dubai’s shock announcement this week that it is seeking to suspend payments on debt of its state-owned […]
Senior Government Officials Killed in Russian Train Attack
November 29th, 2009Via: Guardian: Russia was tonight coming to terms with its most deadly terrorist attack in years after investigators confirmed that a powerful improvised bomb caused Friday’s devastating train crash in which at least 26 people, including several top government officials, were killed. The head of Russia’s FSB counter-terrorism agency, Alexander Bortnikov, said the bomb, hidden […]
Dubai Crisis May End in “Major Sovereign Default”
November 29th, 2009Via: Bloomberg: Dubai’s debt woes may worsen to become a “major sovereign default” that roils developing nations and cuts off capital flows to emerging markets, Bank of America Corp. said. “One cannot rule out — as a tail risk — a case where this would escalate into a major sovereign default problem, which would then […]
“Almost all the camping grounds within 100 miles of Los Angeles are now filled with people living in them.”
November 27th, 2009Does anyone know if that statement is even close to being true? Via: Guardian: There were not many people packed in to the Los Angeles “town hall” meeting who had heard of the foreign woman with the unfamiliar title who had come to listen to their tales of plight. But many took it as a […]
Dubai in Deep Water as Ripples from Debt Crisis Spread
November 27th, 2009Via: Times Online: Fears of a dangerous new phase in the economic crisis swept around the globe yesterday as traders responded to the shock announcement that a debt-laden Dubai state corporation was unable to meet its interest bill. Shares plunged, weak currencies were battered and more than £14 billion was wiped from the value of […]
Japanese Officials Show Concern as Dollar Slides
November 27th, 2009Via: New York Times: Japanese policy makers on Friday became increasingly vocal about the strength of the yen after the Japanese currency hit a 14-year high against the dollar, fueling speculation that the government may step into the market to artificially weaken the currency. The dollar briefly fell to 84.82 yen — surpassing Thursday’s low […]
