Archive for the 'Economy' Category
U.S. Economy Suffers Sharp Nosedive
February 27th, 2009Via: BBC: The US economy shrank by 6.2% in the last three months of 2008, official figures have shown, a far sharper fall than had previously been reported. Plunging exports and the biggest fall in consumer spending in 28 years dragged the figure down from the 3.8% estimate the government gave earlier. The decline was […]
Dear Mr. President, With All Due Respect
February 27th, 2009Via: Mish: Dear Mr. President, I read your New Era $3.6 Trillion Budget Proposal. I also listened to your speech Tuesday night. You made a great campaign speech. However, the campaign is over. You won. And the reason you won is you offered hope as well as a promise of change. With all due respect […]
California’s Newly Poor Push Social Services to Brink
February 27th, 2009Via: Bloomberg: In California’s Contra Costa County, 40,000 families are applying for just 350 affordable-housing vouchers. Church-operated pantries are running out of food. Crisis calls have more than doubled in the city of Antioch, where the Family Stress Center occupies the site of a former bank. The worst financial crisis in seven decades is forcing […]
Ex-Stanford Employee Warned Regulators About Fraud
February 27th, 2009Via: Reuters: A former Stanford Group Company employee told broker-dealer watchdogs in 2003 that the financial services firm was engaged in fraud, about five years before U.S. securities regulators charged the firm’s chairman, Allen Stanford, with an $8 billion fraud. Leyla Basagoitia, who was fired from Stanford Group Company in 2002, told a broker-dealer arbitration […]
U.S. Treasuries Fall for Third Day on Spending, Supply Concern
February 27th, 2009Via: Bloomberg: Treasuries fell for a third day as the government sold $22 billion of seven-year notes in the last of three auctions this week as it issues an unprecedented amount of debt to spur the U.S. economy. Declines were led by 10- and 30-year securities. President Barack Obama’s administration forecast a budget deficit of […]
We’re on the Brink of Disaster
February 27th, 2009Via: Salon: Violent protests and riots are breaking out everywhere as economies collapse and governments fail. War is bound to follow. The global economic meltdown has already caused bank failures, bankruptcies, plant closings and foreclosures and will, in the coming year, leave many tens of millions unemployed across the planet. But another perilous consequence of […]
Mexico Sending 5,000 Troops to Juarez
February 26th, 2009Via: Reuters: Mexico is sending up to 5,000 new troops and federal police to the country’s most violent city, where law and order is on the brink of collapse in a brutal war between drug gangs aided by corrupt police. The army said on Thursday the new deployment could take the number of soldiers and […]
Understanding and Navigating the Economic Crisis
February 26th, 2009One of Cryptogon’s core contributors created this presentation. He will be showing this to executives at a large financial organization. (He asked me not to say which one.) He’s very interested in getting feedback on this: Understanding and Navigating the Economic Crisis update View more presentations from espruyt. (tags: depression recession) I’ve included my comments […]
Dusty Foggo Mostly Beats the Wrap
February 26th, 2009Via: Propublica: Paramilitary agents for the CIA’s super-secret Special Activities Division, or SAD, perform raids, ambushes, abductions and other difficult chores overseas, including infiltrating countries to “light up” targets from the ground for air-to-ground missile strikes. This week the government acknowledged for the first time that some of SAD’s sensitive air operations were swept up […]
Job Losses Still Increasing
February 26th, 2009Via: AP: New jobless claims rose more than expected last week and the number of laid-off Americans continuing to receive unemployment benefits topped 5.1 million, fresh evidence the recession is increasingly forcing employers to shed jobs. The Labor Department said Thursday that first-time requests for unemployment benefits jumped to 667,000 from the previous week’s figure […]
