Archive for the 'Economy' Category
Irish Economic Collapse Accelerates; Other States Following it Down
July 22nd, 2009Via: Telegraph: For a glimpse of what awaits Britain, Europe, and America as budget deficits spiral to war-time levels, look at what is happening to the Irish welfare state. Events have already forced Premier Brian Cowen to carry out the harshest assault yet seen on the public services of a modern Western state. He has […]
Scientific Fraud in Medicine: More Than a Few Bad Apples
July 21st, 2009Via: Alliance for Natural Health: Finding that most clinical results are misleading, or simply wrong, assumes that the studies were biased but honestly conducted. The assumption of honesty is the default approach for a scientist. You assume that the results represent the true experimental findings. However, recent findings suggest that medicine has a particular problem […]
Joe Bageant: “When you’re fucked, you know it. You don’t need scientific verification.”
July 21st, 2009Via: Joe Bageant: “White underclass” is a term I’ve used often in my writing, and most American readers seem to know what I mean. They’ve got eyes and live in the same nation I do. But in a sudden burst of journalistic responsibility, I decided that if I am going to throw around the word […]
Bailouts Could Cost U.S. $23 Trillion
July 21st, 2009Via: Politico: A series of bailouts, bank rescues and other economic lifelines could end up costing the federal government as much as $23 trillion, the U.S. government’s watchdog over the effort says – a staggering amount that is nearly double the nation’s entire economic output for a year. If the feds end up spending that […]
And Now… Desperate People to Work for Free
July 20th, 2009Via: Reuters: With U.S. unemployment at a 20-year high, some Americans are working for free while looking for a job, but experts are split over whether it is a sign of dedication or desperation. Unpaid job seekers can keep their resumes fresh by boosting their experience and learning new skills, experts say, but others warn […]
Obama Nominates Goldman Sachs Executive for State Department’s Undersecretary for Economic, Energy and Agricultural Affairs
July 20th, 2009If the Obamatards think I’m enjoying this, they’re wrong. Via: Wall Street Journal: The Obama administration picked Goldman Sachs Group Inc. Vice Chairman Robert Hormats to be the State Department’s undersecretary for economic, energy and agricultural affairs, the White House announced Friday. Mr. Hormats, if confirmed by the Senate, will buttress Secretary of State Hillary […]
White House Delaying Release of Budget Update
July 20th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The U.S Dollar Index is sharply lower on this news, and gold is sharply higher. This news actually broke the dollar down and out of its recent range. Via: AP: The White House is being forced to acknowledge the wide gap […]
Dollar Finally Breaking Down
July 20th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. After several weeks of sideways slop, the USDX is finally falling over. While it still needs to clear a couple of lows to the downside to really build some momentum, I thought I’d provide a big picture look at the challenges […]
Cliff Stearns vs. Henry Paulson
July 20th, 2009In a sane world, Paulson would be sitting in a cage and wearing an orange jumpsuit and handcuffs as he gave this testimony before congress.
Billboards Tell America to Cheer Up
July 19th, 2009Via: New Zealand Herald / AP: Some Americans put out of work by the latest recession are driving past billboards with messages like: “Interesting fact about recessions … they end.” Another reads: “Self worth is greater than net worth.” A third says: “This will end long before those who caused it are paroled.” Drivers across […]
