Archive for the 'Economy' Category
Poverty Spreading in Suburbs
November 29th, 2008Via: Reuters: Poverty in the United States is spreading from rural and inner-city areas to the suburbs, according to a study, a situation that can worsen as the economy confronts what may be a protracted recession. The study by the Federal Reserve’s Community Affairs department and the Brookings Institution Metropolitan Policy Program found that poverty […]
UK: Taxpayer Now Owns Nearly 60% of Royal Bank of Scotland
November 28th, 2008Via: Guardian: Royal Bank of Scotland, Britain’s second biggest bank until the credit crunch struck last year, confirmed today that is now majority-owned by the taxpayer after a £20bn bail-out by the government. The Edinburgh-based bank announced this morning that its existing investors had shunned its £15bn cash call, leaving almost all the new shares […]
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 […]
