Archive for the 'Economy' Category
Thousands at Cow Palace Seeking Mortgage Help
October 17th, 2009Via: San Francisco Chronicle: The Cow Palace, site of rodeos and rock concerts, was transformed into a foreclosure-prevention fair on Friday that drew thousands of struggling borrowers hoping for help to make their mortgages more affordable. Armed with sleeping bags or folding chairs, many spent a chilly night on the pavement outside the Daly City […]
LATIN AMERICAN REGIONAL CURRENCY: SUCRE
October 17th, 2009Via: AFP: Leftist Latin American leaders agreed here on the creation of a regional currency, the Sucre, aimed at scaling back the use of the US dollar. Nine countries of ALBA, a leftist bloc conceived by Venezuelan President Hugo Chavez, met in Bolivia where they vowed to press ahead with a new currency for intra-regional […]
2009 Federal Deficit Surges to $1.42 Trillion
October 17th, 2009Via: AP: What is $1.42 trillion? It’s more than the total national debt for the first 200 years of the Republic, more than the entire economy of India, almost as much as Canada’s, and more than $4,700 for every man, woman and child in the United States. It’s the federal budget deficit for 2009, more […]
Goldman Exec Named First COO of SEC Enforcement
October 17th, 2009The money is so dirty now, the gains so ill-gotten, that the most diabolical of ALL Wall Street firms needs to create a PRIVATE exchange because the existing bogus securities laws (WorldCom, Enron, blah blah) are too cumbersome and time consuming!? Watch this space; if you dare. —Goldman Sachs Creates Private Stock Exchange for Unregistered […]
Britain: Supranational Banking Organization May Be Needed
October 16th, 2009Funny how BIS isn’t mentioned. Via: Reuters: A global body with legal powers may be needed over time to enforce the world’s new financial rules, the Financial Services Authority (FSA) said on Wednesday. The FSA’s newly appointed and first director of international affairs, Verena Ross, said the Financial Stability Board (FSB) was key to ensuring […]
JAL, Asia’s Largest Airline, Near Bankruptcy
October 16th, 2009Via: Reuters: Japan Airlines Corp shares slid 12 percent to a record low on Friday as investors suggested bankruptcy may be an option for Asia’s biggest airline by revenue, even as the government again pledged to support the troubled carrier. “There’s increasing concern about the future of the company and whether it’s heading for a […]
Civilians Unemployed – 15 Weeks & Over
October 16th, 2009Recovery. Via: Federal Reserve Bank of St. Louis:
Drought: California Agriculture in Collapse
October 16th, 2009Via: AP: As California prepares for its fourth year of drought, farmers are nervous in California’s San Joaquin Valley. The valley’s eight counties, if they were their own state, would be the top producing one in the nation. Nearly all the U.S. cantaloupes, garlic, almonds and processing tomatoes come from here. And so do nearly […]
Ireland: Top Insurer Tells 1,000 Doctors Not to Give Swine Flu Vaccine
October 16th, 2009Via: Independent: An insurance company has warned 1,000 GPs not to administer the swine flu vaccine. The HSE plans to enlist family doctors to give the swine flu vaccine to patients with pre-existing medical conditions. But an insurance company which covers around 1,000 of the 2,200 to 2,500 GPs in the country advised them not […]
Sumitomo: Dollar May Drop to 50 Yen Next Year
October 16th, 2009Via: Bloomberg: The dollar may drop to 50 yen next year and eventually lose its role as the global reserve currency, Sumitomo Mitsui Banking Corp.’s chief strategist said, citing trading patterns and a likely double dip in the U.S. economy. “The U.S. economy will deteriorate into 2011 as the effects of excess consumption and the […]
