Archive for the 'Economy' Category
China Signals That It May Allow Currency to Rise Against Dollar
November 11th, 2009Via: CNBC / Reuters: China sent its clearest signal yet that it was ready to allow yuan appreciation after an 18-month hiatus, saying on Wednesday it would consider major currencies, not just the dollar, in guiding the exchange rate. In its third-quarter monetary policy report, the People’s Bank of China departed from well-worn language on […]
Massive Blackout in Brazil and Paraguay; Tens of Millions Were Without Power
November 11th, 2009Via: AFP: A blackout across much of southern Brazil overnight plunged tens of millions of residents in the country’s biggest cities into a state of anxiety and raised questions Wednesday over national energy security. The outage, which started at 10:15 pm Tuesday (0015 GMT Wednesday), originated at the Itaipu hydroelectric plant that straddles the border […]
Key Oil Figures Were Distorted by U.S. Pressure, Says IEA Whistleblower
November 10th, 2009Via: Guardian: The world is much closer to running out of oil than official estimates admit, according to a whistleblower at the International Energy Agency who claims it has been deliberately underplaying a looming shortage for fear of triggering panic buying. The senior official claims the US has played an influential role in encouraging the […]
TV Footage Shows Afghan Insurgents with U.S. Ammo
November 10th, 2009Via: AP: Television footage broadcast Tuesday showed insurgents handling what appears to be U.S. ammunition in a remote area of eastern Afghanistan that American forces left last month following a deadly firefight that killed eight troops. The U.S. military said the forces that left the area said they removed and accounted for their equipment. Al-Jazeera […]
I’m Doing ‘God’s Work’; Meet Mr. Goldman Sachs
November 10th, 2009Via: Times: It’s the site of the best cash-making machine that global capitalism has ever produced, and, some say, a political force more powerful than governments. The people who work behind the brass-trim glass doors make more money than some countries do. They are the rainmakers’ rainmakers, the biggest swinging dicks in the financial jungle. […]
60 Minutes: Sabotaging The System
November 9th, 2009Watch CBS News Videos Online
Israel Proposes Work Camps for Illegal Migrants
November 9th, 2009Via: Haaretz: The government is considering establishing work camps in the south of the country, where illegal migrant workers will receive shelter, food and medical care, Army Radio reported Wednesday. In exchange, illegal migrants would perform manual labor outside the camps, but would not earn a salary. They would stay at the camp until their […]
U.S. Citizens Are Joining Immigrants in Store Parking Lots Seeking Day Labor Jobs
November 9th, 2009Via: Las Vegas Sun: It sounds like a George Lopez joke. “Times are so bad that I saw an Anglo day laborer standing outside Home Depot the other day.” Except it’s true. In the latest sign of the Las Vegas Valley’s economic free fall, U.S. citizens are starting to show up in the early mornings […]
Profit ‘Not Satanic,’ Barclays Says, After Goldman Invokes Jesus
November 8th, 2009Via: Bloomberg: Barclays Plc Chief Executive Officer John Varley stood at the wooden lectern in St. Martin-in-the- Fields on London’s Trafalgar Square last night and told the packed pews of the church that “profit is not satanic.” The 53-year-old head of Britain’s second-biggest bank said banks are the “backbone” of the economy. Rewarding high- performing […]
Official U.S. Jobless Rate: 10.2 Percent
November 6th, 2009Via: AP: The U.S. jobless rate unexpectedly jumped to a 26-1/2-year high of 10.2 percent last month, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount. The Labor Department said on Friday that employers cut 190,000 jobs in October, more than the 175,000 markets had […]
