Archive for the 'Economy' Category
Meltdown Far From Over, New Mortgage Crisis Looms
November 28th, 2008Via: AP: Black Friday’s retail shoppers hunting for holiday bargains won’t be enough to stave off what’s likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events poisoning the housing market. Hotels in Tucson, Ariz., and Hilton Head, S.C., also are about to default […]
The Citigroup Gold-At-$2000 Story
November 28th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. DISCLOSURE: I am a BullionVault client and affiliate. I am a Nitro-Pak affiliate. I am an Impact Guns affiliate. I hold DBA. Oh my, the Citigroup Gold-At-$2000 Story is making the rounds. If Citigroup analysts knew their collective ass from a […]
After Citi, is Bank of America Next?
November 28th, 2008Via: Reuters: A government rescue plan has eased investors’ concerns about Citigroup Inc, but mines lurking in the balance sheets of rivals including Bank of America Corp could still tempt short-sellers. Bank of America, the No. 3 U.S. bank by assets, has loaded up on mortgages as the world’s largest economy wrestles with the worst […]
Americans’ Food Stamp Use Nears All-Time High
November 27th, 2008This may sound strange, but there’s a lot of opportunity at this stage of collapse. Gardening and food security issues might resonate with many more people now than in recent years. If you know someone who is on the verge of snapping out their trance, offer books, links, some seeds, or a hand. Additionally, I […]
Yield on 10-Year Treasury Debt Below 3%; First Time in 50 Years
November 27th, 2008Via: Financial Times: Financial markets notched up another historic milestone on Wednesday as the yield on 10-year US Treasury debt fell below 3 per cent for the first time in 50 years. The decline in yields – to a low of 2.98 per cent – comes in response to unconventional policy measures taken by the […]
2009: Titanic Shocks and Changes to the Global Order of a Scale Perhaps Not Experienced in the Past Five Centuries
November 27th, 2008Via: Engdahl: What neither Paulson nor anyone in Washington is willing to reveal is the real truth behind the Citigroup bailout. By his and the Republican Bush Administration’s adamant earlier refusal to take an initial resolute action to immediately nationalize the nine or so largest troubled banks and reorganize the assets into some form of […]
China: Emergency Rate Cuts, Riots, Factory Workers Fired by the Millions
November 27th, 2008Via: Telegraph: Today, around 500 protesters rioted at the Kai Da toy factory in Dongguan in the Pearl River delta, flipping over a police car and trashing computers in a dispute over payoffs to 80 fired workers. Tens of thousands of factories across the region have already shut their gates. Yin Weimin, China’s Social Security […]
The U.S. Treasury Market Reaches Breaking Point; 20 Percent of Trading Volume Represents “Fails” or Bonds That Will not Be Delivered on Schedule
November 27th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. This is THE core process that animates the entire zombie money system… I’m at a bit of a loss to think of applicable analogies that might describe the failure of this mechanism. Have you ever seen a top fuel dragster explode […]
Los Angeles: 5,000 People Turn Out for a Food Giveaway
November 26th, 2008And check out the part about the Home Preservation Day event. Via: Los Angeles Times: Some sought a cart of groceries the week before Thanksgiving, others sought a way to keep from losing their homes in the new year. By the thousands, a diverse group of Southern Californians converged on two events Saturday aimed at […]
People Digging Holes in the Ground, Burying Cash and Gold
November 26th, 2008There are a few things to consider with cash. First, in the U.S., police may seize cash from motorists even in the absence of any evidence that a crime has been committed. People routinely have large amount of cash stolen from them by local, state and federal law enforcement agencies. Second, there has been a […]
