Archive for the 'Economy' Category
Correspondence with Jake Adelstein
May 14th, 2008After reading, This Mob Is Big in Japan, Jake Adelstein’s compelling Washington Post piece about organized crime in Japan, I decided to write to him to see if he had any comments on Benjamin Fulford’s remarkable claims. I was pleasantly surprised when Mr. Adelstein wrote back. Our correspondence is below. From the beginning, I didn’t […]
This Mob Is Big in Japan
May 13th, 2008Must read. Full text follows. Via: Washington Post: This Mob Is Big in Japan By Jake Adelstein Sunday, May 11, 2008; B02 I have spent most of the past 15 years in the dark side of the rising sun. Until three years ago, I was a crime reporter for the Yomiuri Shimbun, Japan’s largest newspaper, […]
U.S. Government Trying to Prevent Meat Company from Testing All of Its Cows for Mad Cow Disease
May 12th, 2008Via: Time: The Bush administration on Friday urged a federal appeals court to stop meatpackers from testing all their animals for mad cow disease, but a skeptical judge questioned whether the government has that authority. The government seeks to reverse a lower court ruling that allowed Arkansas City, Kan.-based Creekstone Farms Premium Beef to conduct […]
China Establishes Company to Make its Own Jumbo Jets
May 12th, 2008Via: AP: China has established a homegrown company to make passenger jumbo jets, state media reported Sunday — a step forward in the country’s quest to become less dependent on Boeing and Airbus. China Commercial Aircraft Co. was established in Shanghai with registered capital of 19 billion yuan $2.7 billion, the official Xinhua News Agency […]
Bubble: California Man Losing Nine Homes in Mortgage Mess
May 12th, 2008Via: Reuters: A California man who has defaulted on nine homes and expects banks to foreclose on all of them, forcing him into bankruptcy, says he now considers it a mistake to have invested in the real estate market. Shawn Forgaard, a 37-year-old software company project manager, bought one home for his family to live […]
Engdahl: Perhaps 60% of Today’s Oil Price is Pure Speculation
May 12th, 2008Leveraged speculation on tangible goods actually makes a mockery of the market system by distorting prices. —CBOT Resembles Carnival Act as Billion Dollar Black Box Operators Move In Note: Engdahl believes in abiotic oil. Via: Oil Geopolitics: …in January 2006, ICE Futures in London began trading a futures contract for West Texas Intermediate (WTI) crude […]
Babyboomers, Meet the Babylosers
May 12th, 2008Via: Guardian: Across Spain, France and Italy, young middle-class professionals with good degrees and diplomas are facing a lifetime on low salaries with unrewarding jobs, forever poorer than their parents.
Citigroup to Shed Nearly $500 Billion in Assets
May 9th, 2008B. Billion. $500 billion. Via: AP: Citigroup Inc. said Friday it aims to shed about $500 billion in assets and grow revenue by 9 percent over the next few years, as it tries to rebound from massive losses tied to deterioration in the mortgage and credit markets. The plans are the most concrete yet by […]
Mideast Reels as Hunger Outgrows Oil Earnings
May 9th, 2008Most of the Middle East oil wealth flows into the bank accounts of just a few thousand people, so, with that in mind… Via: Financial Times: For years, food policy in the Middle East and North Africa was very simple: hydrocarbon exports paid for carbohydrate imports. Rising agricultural commodities prices and a large population increase […]
India Extends Futures Trading Ban
May 9th, 2008Via: Financial Times: India has extended its futures trading ban to four more food commodities despite warnings, including from the government-appointed market regulator, that such measures will do nothing to quell inflation. The regulator, the forward markets commission, acting under instruction from the Congress party-led coalition government, suspended futures trading on Thursday in potatoes, soy […]
