Archive for the 'Economy' Category
“It makes you wonder who exactly is lining up out there to buy it.”
December 23rd, 2008As long as there are takers for this slop, the band plays on. I was worried that the situation in Japan would affect this auction. Nope. Via: Bloomberg: Two-year Treasury notes dropped for a second day as the government sold a record $38 billion of the securities at a higher yield than forecast. While the […]
Money Market Funds Closing Down as Yields Near Zero
December 22nd, 2008Via: Financial Times: Money market funds, an increasingly popular place to park cash, will need to raise fees or close to new money to remain profitable as yields hover at near-zero, according to industry managers. The funds, which manage $3,800bn and have seen big cash inflows, are reeling from frozen credit markets, subprime exposure and […]
Change: Rice Says That Obama Will Follow Bush Foreign Policy
December 22nd, 2008The argument that the two parties should represent opposed ideals and policies, one, perhaps, of the Right and the other of the Left, is a foolish idea acceptable only to doctrinaire and academic thinkers. Instead, the two parties should be almost identical, so that the American people can “throw the rascals out” at any election […]
JAPANESE EXPORTS PLUNGE RECORD AMOUNT
December 22nd, 2008Via: AP: Japanese exports plunged a record 26.7 percent in November, the Ministry of Finance said Monday, highlighting the drop in global consumer demand for automobiles, electronics parts and other Japanese products. Economists warned that exports — a mainstay of the world’s second-largest economy — would tumble further with no recovery in sight for the […]
Banks Not Disclosing What They Did with Bailout Cash
December 22nd, 2008Total, blatant, shameless, top to bottom fraud. Via: AP / CNBC: It’s something any bank would demand to know before handing out a loan: Where’s the money going? But after receiving billions in aid from U.S. taxpayers, the nation’s largest banks say they can’t track exactly how they’re spending the money or they simply refuse […]
Bank of Spain Chief: World Faces “Total” Financial Meltdown
December 22nd, 2008Via: AFP: The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a “total” financial meltdown unseen since the Great Depression. “The lack of confidence is total,” Miguel Angel Fernandez Ordonez said in an interview with Spain’s El Pais daily. “The inter-bank (lending) […]
Toyota Forecasts Its First Operating Loss in 71 Years: “We’re facing an unprecedented emergency situation. Unfortunately, we can’t see the bottom.”
December 22nd, 2008Via: Bloomberg: Toyota Motor Corp., the world’s second-largest automaker, forecast its first operating loss in 71 years on plummeting demand, prompting Moody’s Investors Service to consider downgrading the company’s top-rated credit. The carmaker will post a 150 billion yen ($1.7 billion) loss in the year through March, it said in a statement today, scrapping a […]
‘The Hit Charade: Lou Pearlman, Boy Bands, and the Biggest Ponzi Scheme in U.S. History’
December 22nd, 2008The Hit Charade: Lou Pearlman, Boy Bands, and the Biggest Ponzi Scheme in U.S. History by Tyler Gray Ponzi schemes? Check. Aircraft leasing? Check. Questionable activities with young boys? Check. Florida? Check. It’s an unfortunate choice for a title, with the Madoff situation just coming into view… Via: Orlando Sentinel: Credit for the biggest American […]
“Be Nice to the Countries That Lend You Money”
December 21st, 2008Nobody goes out looking to engage in a Mexican standoff, but that’s the apparent nature of any “order” that’s alleged to exist in the global economic system. Useless university courses, taught by Council on Foreign Relations goons, will use a different term to describe this strapped-to-the-mast/Mexican standoff/fiat currency Hell phenomenon: Economic Interdependence. —Japanese Economists Consider […]
Madoff Can’t Leave Apartment, Prosecutors Fear ‘Harm or Flight’
December 20th, 2008Mmm hmm. Via: Bloomberg: Bernard Madoff, accused in a $50 billion investment fraud, was placed under 24-hour house arrest in his $7 million New York City apartment after prosecutors warned of his “harm or flight.” Madoff, 70, had been subject to electronic monitoring and a 7 p.m. curfew under a Dec. 17 court order. Now […]
