Archive for the 'Economy' Category
Oil Is Steady as Demand May Climb on Obama Bank-Rescue Plan
January 22nd, 2009Another factor which could lead to higher oil prices is Obama’s upcoming trillion dollar clusterf*ck orgy of government spending on “recovery.” I don’t know what that’s going to entail, but it will, by definition, require a hell of a lot of oil. —Oil Via: Bloomberg: Crude oil was little changed after rising on speculation a […]
UK Cannot Take Iceland’s Soft Option
January 21st, 2009Well, anyone who thought that my comparison of New Zealand to Iceland was a stretch can bask in the Reykjavik on Thames reference from earlier today and now this. Holy shit. Via: Telegraph: The British government faces an excruciating choice. It cannot let Royal Bank of Scotland and its fellow mega-banks go to the wall. […]
Three Words That Should Strike Fear Into Anyone with Wealth to Preserve: Florida Hedge Fund
January 21st, 2009Via: AP: A missing hedge fund manager who owed investors a $50 million payout told his wife in a note he felt guilty about mismanaging people’s money, and threatened to kill himself, according to a sheriff’s report released Tuesday. However, the Sarasota County Sheriff’s Office said it believes Arthur G. Nadel planned his disappearance and […]
Riots in Iceland, Latvia and Bulgaria Are a Sign of Things to Come
January 21st, 2009Via: Times Online: Icelanders all but stormed their Parliament last night. It was the first session of the chamber after what might appear to be an unusually long Christmas break. Ordinary islanders were determined to vent their fury at the way that the political class had allowed the country to slip towards bankruptcy. The building […]
Life in Russia: Photos by Aleksey Petrosian
January 21st, 2009Large gallery on EnglishRussia.
Bernard Madoff, the Mafia, and Naked Short Selling
January 21st, 2009“One wrong word and he’s dead, his family is dead, etc. He knows it. He’s sticking to a script. …People involved with this, at the levels we don’t even know about yet, mainly, the management of day-to-day operations, are probably already dead.” —The Desperate Final Hours of the World’s Biggest Ever Financial Fraud “At some […]
Patrick Rocca, ‘Poster Boy’ of Ireland’s Celtic Tiger, Kills Himself
January 21st, 2009Via: Times Online: Patrick Rocca seemed to have it all. A poster boy for Ireland’s Celtic tiger economy, he lent Bill Clinton his helicopter whenever he was in Ireland for a round of golf and rubbed shoulders with Tony Blair at gala dinners. He played tennis with Sir Alan Sugar in Marbella and ran a […]
Jim Rogers: ‘Sell Any Sterling You Might Have. It’s Finished’
January 21st, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Sterling holders, consider reducing or eliminating your exposure to GBP denominated assets immediately. —Cryptogon, 18 September 2007 A bit late, don’t you think, Jim??? I’m glad that some Cryptogon readers in Britain have defended themselves by turning their pounds into gold […]
Britain Could be Facing National Bankruptcy
January 21st, 2009Is Britain using the Euro yet? Nope. Not yet. Just wait… I’m not so convinced that this is incompetence, like the article implies. National currencies are the enemy. And Gordon Brown is such a tool (yes, tool, not fool). What do you expect from a crook who sold half of the British people’s public treasure […]
More Americans Joining Military as Jobs Dwindle
January 20th, 2009Via: New York Times: The last fiscal year was a banner one for the military, with all active-duty and reserve forces meeting or exceeding their recruitment goals for the first time since 2004, the year that violence in Iraq intensified drastically, Pentagon officials said. And the trend seems to be accelerating. The Army exceeded its […]
