Archive for the 'Economy' Category
Pimco Says Closed-End Funds Delay Dividend Payments
March 5th, 2009Bond rumblings… Via: Bloomberg: Pacific Investment Management Co. said three of its closed-end funds had postponed dividend payments declared Feb. 2 because they failed to meet the ratio of assets to borrowing set by regulators. Pimco Corporate Income Fund, Corporate Opportunity Fund and High Income Fund won’t make payments scheduled for today or for April […]
UK: Job Vacancies and Pay Fall at Record Pace
March 4th, 2009Can they eat CCTV cameras? Via: Reuters: Demand for staff at companies fell at its fastest rate in more than 10 years in February and pay also fell at a record rate as firms slashed costs, a survey showed on Wednesday. The Recruitment and Employment Confederation/KPMG report on jobs said the poor economic climate had […]
FDIC: Depositor Insurance Fund Could Be Insolvent This Year
March 4th, 2009Via: Bloomberg: Federal Deposit Insurance Corp. Chairman Sheila Bair said the deposit insurance fund could dry up amid a surge in bank failures, as she responded to an industry outcry against new fees approved by the agency. “Without these assessments, the deposit insurance fund could become insolvent this year,” Bair wrote in a March 2 […]
Fed Launches New $200 Billion Consumer Credit Program
March 3rd, 2009And now the U.S. Dollar is going to be backed with credit card debt, auto debt, student loan debt and small business loan debt. The Chinese will love this. Via: AP: The Federal Reserve on Tuesday rolled out a much-awaited program aimed at boosting the availability of credit to consumers and small businesses. The Fed […]
TOYOTA LOOKING TO JAPANESE GOVERNMENT FOR FINANCING
March 3rd, 2009Via: AP: Toyota’s financing unit is in talks with a Japanese government-backed bank on possible lending, the automaker said Tuesday, underlining the serious woes facing the car industry amid plunging global sales. Toyota Motor Corp. said no details had been decided. Kyodo News and NHK TV reported earlier in the day, without identifying sources, that […]
BANK OF ENGLAND MAY USE QUANTITATIVE EASING THIS WEEK
March 3rd, 2009Via: Reuters: The Bank of England could this week start buying assets with newly created money to boost the money supply and the economy, Chancellor Alistair Darling said in an interview on Tuesday. Darling told the Daily Telegraph newspaper he also expected more banks to take advantage of the government’s Asset Protection Scheme, which insures […]
Dow Wreck Continues: Below 7000
March 2nd, 2009Via: AP: The Dow Jones industrial average plunged below 7,000 Monday for the first time in more than 11 years as investors grow even more pessimistic about the health of banks, and in turn the economy.
Australia and New Zealand Working on “Common Border” Policy
March 2nd, 2009What will they call the money? Hmm? The KiwAussie Dollar of Greater Oceania? A few months ago, I emailed the NZ Reserve Bank and asked them if there was a common AU/NZ currency on the horizon. They assured me, “No.” Mmm hmm. Via: New Zealand Herald: Trans-Tasman flights could be reclassified as domestic routes by […]
French Farmer is New Sun King
March 2nd, 2009This is an interesting piece that looks at how France is using guaranteed contracts to buy power to stimulate alternative energy projects. It sounds better toward the end, where they’re talking more about decentralization, with risk and profits being spread around to larger numbers of people. Via: Reuters: Bright winter sun dissolves a blanket of […]
Laid-Off Professionals Turn to ‘Survival Jobs’
March 2nd, 2009This reads like Cryptogon circa 2004-2005. During the final days at the last corporate job that I would ever have, I tried to tell those guys that I worked with… “Don’t blindly sell yourself to another criminal organization. They’ll just screw you again and again. Play the next one to win. Get out of debt. […]
