Archive for the 'Economy' Category
Rahm Emanuel 2006: “This is not a draft. It’s a universal service.”
January 6th, 2009TOYOTA WILL HALT ALL PRODUCTION IN JAPAN FOR ELEVEN DAYS
January 6th, 2009Via: Reuters: Toyota Motor Corp is to halt production at its Japanese plants for 11 days in February and March as a sharp slide in U.S. sales has left dealers’ lots full of unsold cars. A 37 percent slump in December sales in Toyota’s biggest market was its sharpest fall in more than a quarter […]
Madoff: If Wall Street Knew, The U.S. Government Knew
January 5th, 2009There is a revolving door between the U.S. Government and the Wall Street firms mentioned below. Maybe someone should ask Hank what he knows about Madoff. Via: Financial Times: Large Wall Street firms privately harboured suspicions about Bernard Madoff’s investment business, in some cases steering clients away from dealing with him, but were reluctant to […]
Ron Paul: We’re in for Big Trouble, Big Trouble, Big Trouble
January 4th, 2009Dubai: Another Ponzi Scheme Collapses
January 4th, 2009Via: CBS News: Over the years, booming oil prices helped turn Dubai into a land of opportunity and playground for the ultra rich. But that was then and this is now. And as CBS News correspondent Sheila MacVicar reports, even Dubai is feeling the pinch of the worldwide economic crisis. The gulf city state’s property […]
MADOFF’S ASSETS TO BE KEPT SECRET
January 4th, 2009Via: Bloomberg: THE US Securities and Exchange Commission, which sued Bernard Madoff last month for allegedly directing a $US50 billion ($71 billion) fraud, is to withhold public access to a list of his assets filed on Wednesday. A federal judge ordered Madoff to provide the commission with an account of all investments, loans, lines of […]
Oil
January 4th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I was going to buy the United States Oil ETF on Friday, but it was sharply higher. I refuse to chase, though, so I’m going to wait for a pullback (that may or may not come). I’ve never touched oil before, […]
U.S. MANUFACTURING DECLINES TO LOWEST LEVEL SINCE 1948
January 3rd, 2009Via: Bloomberg: The decline in U.S. manufacturing deepened in December as demand for such products as cars, appliances and furniture reached the lowest level since at least 1948, signaling further cutbacks in factory jobs and production this year. The Institute for Supply Management’s factory index fell to 32.4, below economists’ forecasts and the lowest level […]
UK: Thefts of Food, Metal, and Petrol Increasing
January 3rd, 2009Via: Independent: Supermarkets have been forced to tag cuts of meat because shoplifters have turned to stealing food during the credit crunch. Retailers warn that the recession has changed the pattern of crime in high street stores, with thieves switching from luxury items to basic foodstuffs. Shops have been forced to step up security around […]
UK: Flawed Accounting Method Hides True Scale of Pension Fund Losses
January 2nd, 2009Via: Guardian: Many of Britain’s biggest companies are preparing year-end accounts that show their pension schemes moved into surplus last year despite the collapse in world markets, which wiped hundreds of billions from their assets. The latest figures from the pensions advisers Aon Consulting show that a steep decline in the FTSE 100 over last […]
