Archive for the 'Economy' Category
Pentagon: A Third of U.S. Youth Too Fat, Sickly to Serve in the Military, Most of the Rest Are Too Dumb or Have Used Too Many Drugs
November 5th, 2009Oh well, they’re not too fat and sickly to go to private prisons. And this is sure to result in much more funding for the terminator robots. Good news all around for the criminals who run the show. Via: USA Today: More than a third of American youth of military age are unfit for service, […]
Britain: Graduate Unemployment to Soar
November 4th, 2009Via: Guardian: Graduate unemployment in Britain will soar over the coming years as the public sector, which employs 52% of university leavers, slashes thousands of jobs, a leading thinktank said today. Centre for Cities said that graduates would find it harder to get work in the public sector, where up to 290,000 jobs were expected […]
Gold Sharply Higher; Up and Out of Previous Range; New Record
November 3rd, 2009$1082. Via: Wall Street Journal: India’s central bank bought 200 metric tons of gold from the International Monetary Fund last month, in the first major move by a leading central bank to diversify its foreign-exchange reserves. Analysts said the move is potentially bullish for gold, but it is by no means the start of a […]
IMF Sold 200 Metric Tons of Gold to India
November 3rd, 2009Via: Bloomberg: The International Monetary Fund sold 200 metric tons of gold to the Reserve Bank of India for about $6.7 billion, its first sale of the precious metal in nine years. The transaction, which involved daily sales from Oct. 19-30 at market prices, is in the process of being settled, the IMF said in […]
Delaware Beats Switzerland as Most Secretive Financial Center
November 2nd, 2009Via: Reuters: Move over Switzerland. The tiny state of Delaware beats the Alpine country in a contest for the most secretive financial jurisdiction, a tax justice rights group said on Saturday. The United States, led by the eastern seaboard state, took in $2.6 trillion in deposits from non-resident corporations and individuals in 2007, according to […]
It is Japan We Should be Worrying About, Not America
November 2nd, 2009Via: Telegraph: Japan is drifting helplessly towards a dramatic fiscal crisis. For 20 years the world’s second-largest economy has been able to borrow cheaply from a captive bond market, feeding its addiction to Keynesian deficit spending – and allowing it to push public debt beyond the point of no return. The rocketing cost of insuring […]
California: “Think Of It As A Forced, Interest-Free Loan”
November 2nd, 2009Via: Los Angeles Times: Starting Sunday, cash-strapped California will dig deeper into the pocketbooks of wage earners — holding back 10% more than it already does in state income taxes just as the biggest shopping season of the year kicks into gear. Technically, it’s not a tax increase, even though it may feel like one […]
NSA Has Conspicuous Role in New Federal Cybersecurity Center
November 2nd, 2009Don’t miss the last sentence. Via: Newsweek: If anything, the Obama administration, citing the threats of computer hacking and cyberterrorism, is now moving to involve the NSA more deeply in domestic security issues. The growing role of the NSA—a Defense Department agency with thousands of military personnel—in domestic matters was on semi-public display on Friday. […]
CIT: BANKRUPT
November 2nd, 2009Oh CIT. Via: Bloomberg: CIT Group Inc., a 101-year-old commercial lender, filed for bankruptcy to cut $10 billion in debt after the credit crunch dried up its funding and a U.S. bailout and debt exchange offer failed. CIT listed $71 billion in assets and $64.9 billion in debt in a Chapter 11 filing in U.S. […]
Gold Market Reaching The Breaking Point
November 1st, 2009Via: Market Skeptics: Investors emptying COMEX warehouses In order to secure gold at the lowest possible price, US investors are turning to the complex, lengthy process of taking delivery of gold futures contracts. By buying gold contracts in deliverable months and wait for them to expire, sophisticated investors are emptying COMEX warehouses. The incredible hassle […]
