Archive for the 'Economy' Category
Satellites to Streamline U.S. Intelligence Agency Narcotics Trafficking Operations
May 21st, 2009That’s not a misleading headline for those of us who have been paying attention. But then again, how many people have ever of SEASPRAY? This looks like an updated version of SEASPRAY, which is part of how Barry Seal was able to move tons of drugs into the U.S. It’s helpful to make sure that […]
BRITAIN’S DEBT OUTLOOK LOWERED TO NEGATIVE
May 21st, 2009Via: AP: Britain faces the unsettling possibility of seeing its debt rating downgraded, after credit ratings firm Standard & Poor’s said Thursday it has revised the country’s outlook to negative from stable. Though the ratings agency reaffirmed the country’s actual long-term credit rating at “AAA” and its short-term rating at “A-1+,” it said the outlook […]
Day of Reckoning Looms for the U.S. Dollar
May 21st, 2009Via: Financial Post: The U.S. dollar’s day of reckoning may be inching closer as its status as a safe-haven currency fades with every uptick in stocks and commodities and its potential risks – debt and inflation – are brought under a harsher spotlight. Ashraf Laidi, chief market strategist at CMC Markets, said Wednesday a “serious […]
Wary of U.S. Debt, China Shifts Gears on Investment
May 20th, 2009The key sentence is below. Via: Reuters: So rather than cut off financing for the U.S.’s record budget deficit for this fiscal year, China has instead, little by little, shifted its buying out of longer-term bonds.
U.S. Crude Futures Rise $2 as EIA Says Supply Fell
May 20th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Disclosure: I’m long USO. Shorter term traders who are holding USO with profit should consider selling some of it into the strength this morning. This Reuters piece doesn’t mention OPEC production cuts, but here it is anyway. Via: Reuters: U.S. crude […]
U.S. Taxpayers About to Buy GM
May 20th, 2009Selling future generations down the river: Made in America. Via: Reuters: If General Motors Corp (GM.N) files for bankruptcy, as widely expected, its healthy assets will be quickly sold to a new company owned by the U.S. government, a source familiar with the situation said on Tuesday. The source, who was not cleared to speak […]
Daimler Partners with Tesla to Build Small Electric Car
May 20th, 2009It’s time to play Catch Mitsubishi If We Can. Via: CNET: German automotive giant Daimler has invested in electric-car company Tesla Motors and plans to use Tesla’s battery packs in its Smart electric car due later this year. At a Tuesday press conference held at the Daimler museum in Stuttgart, Germany, Tesla CEO Elon Musk […]
Brazil and China Eye Plan to Axe Dollar
May 19th, 2009Via: Financial Times: Brazil and China will work towards using their own currencies in trade transactions rather than the US dollar, according to Brazil’s central bank and aides to Luiz Inácio Lula da Silva, Brazil’s president. The move follows recent Chinese challenges to the status of the dollar as the world’s leading international currency. Mr […]
Chart of the Day: S&P 500 Earnings Plunge
May 18th, 2009Via: Chart of the Day: While the stock market is up sharply since early March, the economy as well as corporate earnings continue to suffer. Today’s chart helps provide some perspective as to the magnitude of the current economic decline. Today’s chart illustrates that 12-month, as-reported S&P 500 earnings have declined over 90% over the […]
India: Market Gaps Higher on Election Result
May 18th, 2009Via: BBC: Indian stocks have surged after the Congress party won a surprisingly decisive victory in national elections. The benchmark Sensex index jumped 17%, or 1,306 points, to 14,272, forcing the Bombay Stock Exchange to shut down for the day. Trading had already been halted earlier, after investors pushed stocks above their daily maximum limit. […]
