Archive for the 'Economy' Category
Hookers and Bribes for U.S. Department of the Interior Officials; Thanks Oil Companies
September 11th, 2008Peak Corruption. Via: McClatchy: Interior Department officials, while handling billions of dollars in oil and gas royalty payments, engaged in illicit sex with industry employees and accepted meals, drinks, ski junkets and golf outings from major oil companies, internal investigators reported Wednesday. Interior Department Inspector General Earl Devaney’s release of three reports, which stem from […]
‘Tens of Thousands to be Laid Off Every Week’ as UK Falls Into Recession
September 11th, 2008A “horrible surprise” could be just around the corner? WTF? Is Cheney visiting the UK? Via: IHT: Tens of thousands of people could be laid off every week in the run-up to Christmas as the UK economy falls into recession, David Blanchflower of the Bank of England’s monetary policy committee warned today. Blanchflower told MPs […]
Study Links Oil Prices to Investor Speculation
September 11th, 2008The dollar rally took off as well. Look at an oil price chart and overlay the U.S. Dollar Index. I’ve been over this so many times, I’m tired of it. Moving on. Via: AP: Speculation by large investors — and not supply and demand for oil — were a primary reason for the surge in […]
LEHMAN GAPPED DOWN AGAIN
September 11th, 2008Via: AP: Lehman Brothers Holdings Inc.’s rescue plan is getting a dismal reception from Wall Street with shares of the battered bank plunging 41 percent. The stock price unraveled in early trading Thursday after analyst reports cast doubt that the nation’s fourth-largest investment bank can survive. Shares fell $2.99, or 41 percent, to $4.26 — […]
GOLD BATTERED, TOOK OUT $750; DOLLAR ONE YEAR HIGH VS. EURO
September 11th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Gold has also, just now (I’m watching this in real time) breached the multi year support that ran through $744. Central bank intervention might have occurred when EUR/USD breached 1.3900. The resulting brief crank up has closed back down and EUR/USD […]
Freddie, Fannie Scam Hidden in Broad Daylight
September 10th, 2008This represents a crime of such gigantic proportions that many people won’t even be able to fathom what has happened. —U.S. Seizes Fannie Mae and Freedie Mac Via: Bloomberg: When the history is written on the collapse of Fannie Mae and Freddie Mac, it will go down in the annals of corporate scandals as one […]
Japan Wholesale Prices Rise 7.2 Percent in August
September 10th, 2008Via: AP: Japan’s corporate goods prices rose 7.2 percent in August, driven up by the soaring costs of energy and raw materials, the Bank of Japan said Wednesday. In data released separately Wednesday, Japan’s current account surplus — the widest barometer of its trade with the world — fell 17.3 percent in July from a […]
UK: Shoppers to Use Fingerprints or Eye Scans to Pay for Goods
September 10th, 2008Mmm hmm. The clean, green ziggurat will have everything under control. Get your retina scanned to gain access to the free speech zone? Via: Telegraph: The futuristic systems, like those used by Tom Cruise in the science fiction film Minority Report, are being developed by scientists for Barclaycard. The company has announced it is investing […]
O3b Links With Google for Fast Satellite Internet Capacity
September 10th, 2008Alternately, here’s one for your old, dusty Teledesic file folder. Hey, brother, can you spare a bird? I’m actually thinking, yes, thinking of going back to dialup even though a lightning ground strike blew up most people’s modems around here, including mine, during a recent storm. If you’ve ever looked at a surge suppressor that […]
LEHMAN DOWN 40%
September 9th, 2008Via: Reuters: Lehman Brothers Holdings Inc shares fell as much as 40 percent on Tuesday to their lowest level in nearly a decade on concern the fourth-largest Wall Street investment bank would be unable to raise needed capital. Much of the decline came after reports that Lehman’s talks with state-owned Korea Development Bank on a […]
