Archive for the 'Economy' Category
U.S. Apartment Market Worsens with Economy
April 8th, 2009Via: Reuters: The vacancy rate for U.S. apartments hit a three-year high in the first quarter and asking rents dropped the most in at least 10 years as the number of excess apartments on the market ballooned, according to real estate research firm Reis Inc. And the figures are forecast to get even worse as […]
White House Approves Costly, New Spy Satellites
April 8th, 2009Via: Houston Chronicle: The Obama administration on Tuesday approved the purchase of pricey new spy satellites and will buy more commercial imagery from the private sector to plug immediate gaps in satellite coverage. … Defense giant Lockheed Martin, of Bethesda, Md., is almost certain to win the secret multibillion-dollar contract for the two new high-altitude […]
150,000 People in the U.S. Have Been Implanted with Defective Medtronic Defibrillator Cables
April 7th, 2009If you think that Medtronic is going to get nailed to the wall with endless lawsuits over this… Guess again! Via: New York Times: Consider the Sprint Fidelis, a heart defibrillator cable. In 2007 its maker, Medtronic, stopped selling it after five patients who had the cables died. But only now is the full scope […]
Useless Currencies of the World Unite!
April 7th, 2009Via: Daughty: My brain went into some kind of weird spasm when Zhou Xiaochaun, head of the People’s Bank of China, went on record as saying that he doesn’t trust the dollar to be the world’s reserve currency anymore, and wants, instead of gold, the International Monetary Fund to expand the supply of Special Drawing […]
Geithner Wrong, Crap Assets Correctly Priced, Say Harvard And Princeton Professors
April 6th, 2009Just in case your Captain Obvious file needs some padding. Via: Clusterstock: The government’s official view that toxic assets are incorrectly priced due to illiquidity “fire sales” is wrong, a new study by Harvard and Princeton finance professors suggests. You can read the whole paper by Harvard’s Joshua Coval and Erik Stafford and Princeton’s Jakub […]
Gold Sharply Lower
April 6th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The next significant support is around $850. Via: Bloomberg: Gold dropped to a 10-week low in London on speculation the world financial crisis may be easing, reducing the precious metal’s appeal as a haven. Silver fell. Bullion has tumbled 5 percent […]
Pawnbroker Opens in Square Mile as City Workers Hock Their Rolexes
April 6th, 2009For the first time in nearly a century… Via: Guardian: It’s usually sovereign rings and chunky gold chains that get pushed under the counter window for a pawnbroker to inspect but at Nikolas Michael the items are far grander. Not far from the gilded towers that house the London bases of discredited institutions such as […]
Japan: Part of Economic Stimulus Includes Promotion of Solar Power Generation
April 6th, 2009I was reading through this piece and it was blah, blah, blah and then promotion of solar power generation jumped out. I wasn’t expecting to see that. If anyone in knows what this means, with more precision that we see here, let us know. Via: Wall Street Journal: Japan will craft what would be its […]
Hundreds of Thousands of Jobless Americans About to Exhaust Their Unemployment Benefits
April 6th, 2009Via: AP: In the coming weeks and months, hundreds of thousands of jobless Americans will exhaust their unemployment benefits, just when it’s never been harder to find a job. Congress extended unemployment aid twice last year, allowing people to draw a total of up to 59 weeks of benefits. Now, as the recession drags on, […]
Active Thermitic Material Discovered in Dust from the 9/11 World Trade Center Catastrophe
April 5th, 2009Via: Global Research: We have discovered distinctive red/gray chips in all the samples we have studied of the dust produced by the destruction of the World Trade Center. Examination of four of these samples, collected from separate sites, is reported in this paper. These red/gray chips show marked similarities in all four samples. One sample […]
