Archive for the 'Economy' Category
CATERPILLAR MOVES TO CUT 20,000 JOBS
January 26th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. DISCLOSURE: I’m long DBA. There are so many layoff stories that I decided to only mention the real shockers. There are just too many stories in the 1000 to 5000 magnitude to mention. Perhaps you guys know of some good sites […]
Elite Flock to Davos to Discuss Economic Crisis
January 26th, 2009The birthing-a-New-Word-Order theme is strong this n0oZ cycle. Via: Reuters: Political leaders and central bankers will dominate this week’s annual Davos forum as a chastened business elite is sidelined in the drive to reboot the world economy, improve global security and slow climate change. More than 40 heads of state and government — almost double […]
U.S. Economy in Free Fall in Fourth Quarter
January 26th, 2009Via: MarketWatch: The U.S. economy contracted violently in the fourth quarter, with gross domestic product falling at its fastest pace in more than 25 years, economists said ahead of what promises to be a grim week of economic news. “Real economic activity fell off a cliff during the fourth quarter, producing a sharp drop in […]
Britain a ‘Bigger National Ponzi Scheme Than the U.S.’; on the Brink of an Economic Depression
January 26th, 2009Via: Telegraph: Britain is heading for economic depression for the first time since the 1930s, economists have warned. Families must brace themselves for a slump of far greater severity and longevity than the recessions of the 1980s and 1990s, they warned. They said the current crisis will be of a scale to rival the biggest […]
California One Week Away from Issuing IOUs… Which May Not Be Accepted by Many Banks
January 26th, 2009Via: SacBee: The controller says California is down to Plan D on its checklist of paying bills. Its cash reserves are piddling; the special funds it borrows from are tapped out, and no one in the private sector is going to lend it any cash at a reasonable interest rate. That leaves what in state […]
Gordon Brown: The Financial Crisis Represents ‘Difficult Birth-Pangs of a New Global Order’
January 26th, 2009Via: AFP: Prime Minister Gordon Brown said Monday the financial crisis must not be an excuse to retreat into protectionism and instead be viewed as the “difficult birth-pangs of a new global order”. In a speech, he will urge countries to avoid “muddling through as pessimists” and “make the necessary adjustment to a better future […]
EMERGENCY: BRITISH ECONOMIC CRISIS; STERLING COULD MOVE SHARPLY LOWER
January 26th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. We’re looking at a strategic downside breach on the British Pound vs the Dollar. If the pound doesn’t bounce now, the next good support is GBP/USD 1. The Bank of England is going to get bloody trying to touch off a […]
Toxic Chinese Drywall Making People and Pets Ill, Corroding Wires, Destroying Electronics
January 25th, 2009Always low prices. Via: Herald Tribune: As the investigation into toxic Chinese drywall continues, a single street in Manatee County appears to be ground zero for the largest cluster of problem homes. Within the Lighthouse Cove subdivision of Lennar’s Heritage Harbour development, sits a quaint street of two-story homes called Montauk Point Crossing. Today, it […]
UK FACES RETURN OF THREE-DAY WORK WEEK
January 25th, 2009Well, more time to get those gardens going this Spring! Via: Independent: The prospect of the three-day week returned to haunt Britain yesterday as it emerged that ministers are considering paying firms to cut hours in order to survive the recession. Tens of thousands of businesses are already planning to scale back working hours this […]
Henry Kissinger: The World Must Forge a New Order or Retreat to Chaos
January 24th, 2009What would the new regime be able to accomplish for the dark side with Obama’s cult of personality status and the sycophantic Hollywood myth makers practically experiencing glossolalia over the prospect of serving it? —Obama Orders Closure of CIA’s Secret Prisons In recent years, I can think of three truly astonishing examples of the elite […]
