Archive for the 'Economy' Category
U.S. Unemployment Up Sharply
June 6th, 2008It’s pointless to post government unemployment statistics, but even by their bogus numbers, it’s the biggest rise in more than two decades. Via: Bloomberg: The U.S. lost jobs in May for a fifth month and the unemployment rate rose by the most in more than two decades, signaling that the world’s largest economy is stalling. […]
MBIA, Ambac, $1 Trillion of Debt, Downgraded
June 6th, 2008Via: Bloomberg: MBIA Inc. and Ambac Financial Group Inc., the world’s largest bond insurers, had their AAA financial strength rankings cut by Standard & Poor’s, taking with them the ratings on more than $1 trillion of securities they guaranteed. The ratings were lowered two levels to AA, New York-based S&P said in a statement today. […]
Oil Gaps on Dollar Craps
June 6th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. See what I mean about that dollar and oil? I expected to see a bit more downside on oil, but, as I said, you need that dollar crank to play along. It did, for a while, as noted. If you covered […]
U.S. Government’s Audited Financial Statement Shows $3.5 Trillion Deficit in 2005
June 6th, 2008Via: USA Today: The federal government keeps two sets of books. The set the government promotes to the public has a healthier bottom line: a $318 billion deficit in 2005. The set the government doesn’t talk about is the audited financial statement produced by the government’s accountants following standard accounting rules. It reports a more […]
Food Is Gold, and Investors Pour Billions Into Farming
June 5th, 2008One of two things is about to happen to people who can’t or won’t take responsibility for the food that crosses their own lips: 1) They’re going to be ripped off; or 2) They’re going to be killed off. Hmm. Why not both? Via: New York Times: “Farmland can be a bubble just like Florida […]
Stockton, California: 3/4 of Homes for Sale Are In or On the Path to Foreclosure, More Inventory Coming
June 4th, 2008I’m sticking by my New Year’s analysis that Fall ’08 is going to get very strange. Via: Reuters: In some areas of California, so many foreclosed homes are available to buy on the cheap that real estate agents are discouraging prospective sellers from even putting their houses on the market. Perhaps the most extreme example […]
South Florida: Cops Evicting Old Ladies, NFL Players, Drug Dealers from Foreclosed Homes
June 4th, 2008…and everyone in between. Via: New York Times: In a decade handling evictions for the Miami-Dade County Police Department, Albert Fernandez has run across a middle-class father bankrupted by his daughter’s cancer treatment; an old woman scammed by a gambling husband; and countless families perpetually on the edge of poverty. But he has never turned […]
“New Zealand Will Simply ‘Get Killed'” Unless Crappy Broadband Situation Improves
June 4th, 2008Our Telecom post goes underwater during strong rain storms. A few storms ago, the cover was off that post, washed away by the raging river that overflowed its banks. Of course, all we had on the line was crackling, popping static. I looked at the post and all the copper was soaked, muddy, with bits […]
Nymex Oil Breaking Down Nicely
June 4th, 2008The U.S. Dollar Index is getting down into a support zone, along with a low band daily stochastic. A crank rally on the dollar would likely blow the columns out from underneath the oil; short term, anyway. Why? Look at the weekly oil chart. The stochastic is wound up like a three day clock, and […]
The World According to Monsanto
June 3rd, 2008Guys, I’m very behind with posts. One of the reasons is because I watched this documentary tonight. Please find the time to watch this and share it around. I’ll catch up on posts tomorrow. Watch: The World According to Monsanto Via: GreenPeace: A new movie has dealt yet another severe blow to the credibility of […]
