Archive for the 'Economy' Category
China Eyes Overseas Land in Food Push
May 9th, 2008Standard operating procedure for empires. Via: Financial Times: Chinese companies will be encouraged to buy farmland abroad, particularly in Africa and South America, to help guarantee food security under a plan being considered by Beijing. A proposal drafted by the Ministry of Agriculture would make supporting offshore land acquisition by domestic agricultural companies a central […]
U.S. Immigration Raids Are About to Get Ugly
May 8th, 2008Via: MySanAntonio: Letters listing millions of Social Security “no-match” workers are ready to mail to employers. The Immigration and Customs Enforcement agency personnel are trained and ready. Buses and vans are standing by for raids. Detention facilities have expanded. All that is lacking is clearance from the courts. Employers should be prepared in the coming […]
Bank of Canada Won’t Rescue Banks in Crisis
May 8th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I liked the Canadian dollar before. I like it even more now. Via: TheCanadianPress: The governor of the Bank of Canada says he will take a tough stand with financial institutions that wind up near bankruptcy because of poor decisions. Mark […]
Chinese Firms Outsourcing to U.S.;”Don’t Want to Miss This Opportunity to Bottom-Fish”
May 8th, 2008Via: Los Angeles Times: Liu Keli couldn’t tell you much about South Carolina, not even where it is in the United States. It’s as obscure to him as his home region, Shanxi province, is to most Americans. But Liu is investing $10 million in the Palmetto State, building a printing-plate factory that will open this […]
U.S. Marines Ignore Opium to Not Upset Afghan Locals
May 8th, 2008Britain in Secret Talks with the Taliban Afghanistan: Planned British Covert Operation Included Training in “Farming and Irrigation Techniques” for Taliban Fighters Narco Aggression: Russia Accuses the U.S. Military of Involvement in Drug Trafficking Out of Afghanistan NATO Forces Supplied Food, Water and Arms to Taliban Forces in Southern Afghanistan Via: AP: The Marines of […]
New Zealand: Technical Details for New Liquidity Measures
May 7th, 2008If you’re thinking about buying property in New Zealand—hold off. Things are going to get weird. Via: Reserve Bank of New Zealand: The Reserve Bank is in the process of adopting new measures to guard against further disruptions to banking system liquidity arising from international financial market turbulence. These changes are seen as temporary, to […]
The Gospel of Consumption and the Better Future We Left Behind
May 7th, 2008Highly recommended. Via: Orion: By the late 1920s, America’s business and political elite had found a way to defuse the dual threat of stagnating economic growth and a radicalized working class in what one industrial consultant called “the gospel of consumption”—the notion that people could be convinced that however much they have, it isn’t enough. […]
U.S. Fed Now Accepts Credit Card Debt as Collateral
May 7th, 2008Via: Daily Reckoning: The Fed has become the mother of all credit exiles, accepting Wall Street’s over-valued, under-performing, dead-beat loans. At least that is what it’s done in a metaphorical sense. What did it do practically? First the Fed increased by US$25 billion the amount of money it will auction to banks (commercial and investment) […]
Bernanke Urges More Action to Stem Home Foreclosure Crisis
May 6th, 2008Via: AP: A rising tide of late mortgage payments and home foreclosures poses considerable dangers to the national economy, Federal Reserve Chairman Ben Bernanke warned anew as he urged Congress to take additional steps to alleviate the problems. “High rates of delinquency and foreclosure can have substantial spillover effects on the housing market, the financial […]
Dollar Tanks, Gold and Oil Up Sharply
May 5th, 2008I see a full court press with all the clowns in the media saying that the bottom is in on the dollar and the euro crash is coming, etc… The dollar will rise on the wings of eagles and harps will play in the background… The sweet perfume of renewal and optimism will pervade America, […]
