Archive for the 'Economy' Category
Government Motors: Obama Orders U.S. to Buy 17,600 New Cars by June 1
April 10th, 2009Via: Bloomberg: President Barack Obama said the government is speeding up its purchase of 17,600 new American- made cars for the government fleet by June 1. The purchases from General Motors Corp., Chrysler LLC and Ford Motor Co. are being made from the $787 billion stimulus package “to increase demand for American auto companies during […]
GM Pensions May Be ‘Garbage’ With $16 Billion at Risk
April 10th, 2009Via: Bloomberg: Den Black, a retired General Motors Corp. engineering executive, says he’s worried and angry. The government-supported automaker is going bankrupt, he says, and he’s sure some of his retirement pay will go down with it. “This is going to wreck us,” said Black, 62, speaking of GM retirees. “These pledges from our companies […]
Obama Wants Another $83 Billion for Iraq, Afghanistan
April 10th, 2009Via: CNN: The Obama administration will ask Congress for another $83.4 billion to fund the wars in Iraq and Afghanistan through the end of September, Democratic congressional sources said Thursday. The request is expected to pay for those conflicts for the rest of the 2009 budget year, two Democratic congressional sources said. The money would […]
Fed Says Plan Now to Avert Inflation
April 10th, 2009HAHAHA. Good luck with that. Via: Reuters: The United States economy will skid more deeply into recession in coming months, Federal Reserve policy-makers warned on Thursday, but it is time to start planning how to wind down spending to avert an inflationary surge. The president of the Kansas City Federal Reserve Bank, Thomas Hoenig, said […]
Weak Pound Heaps Food Price Inflation on Poorest Households
April 9th, 2009Via: Independent: The collapse of the pound on the foreign exchanges is keeping food price inflation at painful levels, with the heaviest impact falling on poorer households and pensioners. The British Retail Consortium (BRC), which represents most major shop chains, reported yesterday a 9 per cent rise in the price of food in the shops […]
One Shot Johnny
April 9th, 2009Great piece about a California slaughterman. What are the effects of the economic depression on his work? He’s booked solid, six days per week. Via: Mother Jones: “Here, piggy piggy,” calls the man peering through the early-morning fog into a livestock trailer, a .22-caliber rifle in his hands. It is 7 a.m. in farm country […]
Kevin Phillips: Inflation Ahead
April 9th, 2009Via: Reuters: An author who saw the global financial crisis coming fears the next bubble will come in the form of inflation and has little confidence U.S. President Barack Obama’s team is up to the challenge ahead. “The Democrats have replaced the Republicans as the big benefactors to the financial community,” said Kevin Phillips, author […]
Obama Looks at Climate Engineering
April 9th, 2009Related: Council on Foreign Relations on Planetary Geoengineering The best way to deal with the fascist fart taxers and Dr. Strangelove geoingineering maniacs is to simply let them talk about their alleged “solutions.” The masks that fake environmentalists are wearing come off at that point, revealing the diabolical element underneath. You don’t hear much about […]
U.S. to Delay Bank Test Results; May not Release Individual Results; Trying to Avoid Panic
April 8th, 2009Via: Reuters: The U.S. Treasury Department is planning to delay the release of any completed bank stress test results until after the first-quarter earnings season to avoid complicating stock market reaction, a source familiar with Treasury’s discussions said on Tuesday. The Treasury is still talking about how results of the regulatory stress tests on the […]
Two Dozen Charged in Alleged Gang-Led Mortgage Fraud
April 8th, 2009Via: Reuters: Two dozen people were indicted on racketeering and other charges for allegedly conducting a wide-ranging mortgage fraud based in San Diego and led by a street gang member, according an indictment unsealed on Tuesday. The lead defendant, Darnell Bell, a documented member of the Lincoln Park street gang in Los Angeles, received at […]
