Archive for the 'Economy' Category
Austrian Banker, Who Placed Billions of Dollars with Madoff, Vanishes
January 9th, 2009Fuggetaboutit. Via: New York Times: With an aggressive style that stood out in the staid world of Austrian banking even more than her bouffant red wig, Sonja Kohn made few friends gathering billions for Bernard L. Madoff from wealthy investors in Russia and across Europe. Now, she has even fewer. Mrs. Kohn has dropped out […]
Enduring Priorities in an Age of Change: War and Profits Over People
January 9th, 2009Via: Chris Floyd: Yet it is here, on “entitlements,” that Obama wants to make a “tough stand” on government spending. It will be a “central part” of his entire economic program. Getting “entitlements” under control will be one of the first major campaigns of his administration, he says, promising plans in February, just days after […]
Bank of England Sets Interest Rates to a Record Low
January 8th, 2009Via: Money UK: The Bank of England has fulfilled most analysts expectations by reducing its base rate again, setting it at its lowest ever value of 1.5 percent. A new precedent has been set in the Bank of England’s 314-year history, following the latest decision from its Monetary Policy Committee (MPC). The MPC has set […]
Oil Traders Seek Another 10 Tankers, Frontline Says
January 8th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I’m pre-emptively adding this to Covert Operations and False Flag Operations so I’ll be able to find it in the aftermath phase of whatever these maniacs have planned to turn a profit on this oil. As much of the of the […]
U.S. Debt is Losing Its Appeal in China
January 8th, 2009Via: IHT: China has bought more than $1 trillion in American debt, but as the global downturn has intensified, Beijing is starting to keep more of its money at home – a shift that could pose some challenges to the U.S. government in the near future but eventually may even produce salutary effects on the […]
State Unemployment Claim Systems Overwhelmed, Crash in Three States
January 8th, 2009Also, job cuts in small businesses, where most people are employed, are now soaring. Via: AP: Electronic unemployment filing systems have crashed in at least three states in recent days amid an unprecedented crush of thousands of newly jobless Americans seeking benefits, and other states were adjusting their systems to avoid being next. About 4.5 […]
Oil: Gap Down
January 8th, 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). —Oil Wow. Wow. Wow. This […]
U.S. 2009 Deficit: $1.2 Trillion and DOES NOT INCLUDE Bailouts or Obama’s Stimulus Plan
January 7th, 2009Via: AP: The federal budget deficit will hit an unparalleled $1.2 trillion for the 2009 budget year, according to a Capitol Hill aide briefed on new Congressional Budget office figures. The aide says the CBO also sees a $703 billion deficit for 2010. The dismal figures come a day after President-elect Barack Obama warned of […]
Real-Estate Executive Found Dead in Apparent Suicide
January 7th, 2009Via: Wall Street Journal: Real-estate executive Steven L. Good was found dead of an apparently self-inflicted gunshot wound Monday in his Jaguar in a forest preserve outside Chicago, said the Kane County Sheriff’s Department. Mr. Good, 52 years old, was chief executive of Sheldon Good & Co., one of the nation’s largest real-estate auction firms. […]
German Billionaire Adolf Merckle Commits Suicide
January 6th, 2009Via: Reuters: German billionaire Adolf Merckle, assailed by financial turmoil and struggling to salvage his business empire, has killed himself, his family said on Tuesday. “The desperate situation of his companies caused by the financial crisis, the uncertainties of the last few weeks and his powerlessness to act, have broken the passionate family entrepreneur and […]
