Archive for the 'Economy' Category
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 […]
Cost to Insure Against U.S. Default on Debt at Record High
January 20th, 2009Via: Reuters: The price investors pay to insure themselves against the U.S. government defaulting on its debt jumped to a record high on Monday, according to data provider CMA DataVision. Five-year credit default swaps on U.S. Treasuries widened to 69.5 basis points from 61.1 basis points at the New York close on Friday, CMA DataVision […]
The Goldman Sachs Long Call on Oil
January 20th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. People are hammering my inbox with this story. I try to ignore anything that oozes out of GS. The fact that their analysis is even in the same ballpark as mine makes me wonder if my original fundamental analysis was deeply […]
Spain Downgraded by S&P
January 19th, 2009Via: Bloomberg: Spain had its AAA sovereign credit rating removed by Standard & Poor’s in the second downgrade of a euro-region government in five days, as the country’s first recession in 15 years swelled the budget deficit. The risk of losses on Spanish government debt rose to a record today, credit-default swaps showed, after S&P […]
Juarez Vigilante Group Claims it Will Kill One Criminal Every 24 Hours
January 19th, 2009If the nightmare of Juarez is unfamiliar to you, check out, While You Were Sleeping by Charles Bowden. That’s from 1996. Via: El Paso Times: A group calling itself the Comando Ciudadano por Juárez, or the Juárez Citizens Command, is claiming it will kill a criminal every 24 hours to bring order to the violent […]
Circuit City to Close 567 Remaining U.S. Stores; Layoff 34,000 People
January 19th, 2009Via: Los Angeles Times: Bankrupt Circuit City Stores Inc. said Friday it was closing its 567 U.S. electronics stores and leaving its 34,000 employees jobless as the nation’s employment picture grew bleaker. It was the worst day this year for news of layoffs, bank losses and store closings, and employers signaled more bad news ahead.
RBS SLAUGHTERED: “FULL-SCALE NATIONALIZATION” NEXT
January 19th, 2009Via: Bloomberg: Royal Bank of Scotland Group Plc said it may post a loss of as much as 28 billion pounds ($41 billion), the biggest ever reported by a U.K. company, as the credit crisis worsens. The stock slumped as much as 46 percent. Britain’s biggest government-controlled bank may post a full-year loss before exceptional […]
Will United States Be Forced to Nationalize Banks?
January 19th, 2009Via: Reuters: The U.S. government’s latest bank rescue, this time a multi-billion dollar lifeline handed to Bank of America, has led to more talk of what once would have been unthinkable — European-style nationalization of major American banks. Few see the government nationalizing the entire banking system the way Sweden did in the 1990s, but […]
UK: Budget Food
January 19th, 2009In the “developed” world, poor people are victims of their own ignorance and bad habits as they are of the predatory nature of the confetti currency system. I’ve seen the way poor people eat in various parts of the “developed” world and that diet, in my opinion, represents a death sentence; a program of genocide […]
