Archive for the 'Economy' Category
Nine Inch Nails in the Record Companies’ Coffins
March 3rd, 2008The new NIN album, Ghosts I-IV, has been officially released by the band on the Internet. One of the purchase options includes choices of high quality DRM-free files for $5. I took the $5 option—there are lots of other options—but I have to wait until I get on a better connection to download it! Well […]
UK Banks Write Off Record £6.8 Billion in Household Debt
March 2nd, 2008Via: Telegraph: Britain’s banks have been forced to write off a record chunk of household debt in the past year in the latest sign that families are struggling to keep up their repayments. Lenders from around the country wrote off some £6.8bn in individual debts last year, statistics from the Bank of England reveal. It […]
My Forbidden Fruits (and Vegetables)
March 2nd, 2008It’s an opportunity for small operators. See Path to Freedom: Via: New York Times: IF you’ve stood in line at a farmers’ market recently, you know that the local food movement is thriving, to the point that small farmers are having a tough time keeping up with the demand. But consumers who would like to […]
More Americans Using Credit Cards to Stay Afloat
March 1st, 2008Via: USA Today: Seven years in the credit-counseling business didn’t prepare Ann Estes for the alarming trend she began noticing last fall: As her clients’ mortgage bills became unaffordable, a growing number of them began paying their credit card bills before — and sometimes instead of — their mortgages. “We’ve never seen anything like this,” […]
Oil Hits Inflation-Adjusted Record High
February 29th, 2008Via: Reuters: U.S. oil surged to a new inflation-adjusted record high on Thursday, surpassing the previous record of $102.53 set in 1980, according to the International Energy Agency. The following table from the BP Statistical Review of Energy picks out key moments in oil market history. It gives average annual dollar-denominated oil prices in money […]
EMERGENCY: U.S. DOLLAR INDEX CRASHES THROUGH 74
February 28th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. 73.88. Remember what I said—about a thousand times—about 74.50!? And now… Bush Says He Believes in Strong Dollar: President George W. Bush on Thursday said he believes in a strong dollar and that the U.S. economy is fundamentally sound. “We believe […]
Euro and Swissy: Fresh All Time Highs
February 28th, 2008I still have to milk the cow later, but it’s nice to see the blinking numbers and squiggly lines going my way. Via: Wall Street Journal: The euro and the Swiss franc rocketed to fresh all-time highs against the dollar Thursday morning after U.S. data showed a rising number of workers filing for jobless benefits. […]
Dollar Drops Off the Cliff
February 28th, 2008Warning: This is not a recommendation to buy, sell or hold any financial instrument. Weeeeee! 74.09 on the USDX… I love it when a plan comes together. Congratulations to all Cryptogon crash traders! Now, don’t get decapitated. Via: Market Watch: Gold futures edged higher to trade near $964 an ounce Thursday, getting a boost from […]
Think Food and Fuel Are Expensive? “You Haven’t Seen Anything Yet”
February 28th, 2008Mmm hmm. Maybe I need that Mmm hmm audio from Sling Blade on stories like this. You best be stockpiling your French fried taters, “Mmm hmm.” Via: CNN: As anyone who’s been to the gas station or supermarket lately knows, the prices of fuel and food are on the rise. And you haven’t seen anything […]
Sprint Loses $29.5 Billion
February 28th, 2008Can you hear me now? Via: Bloomberg: Sprint Nextel Corp., the third- biggest U.S. wireless carrier, posted a $29.5 billion loss and will eliminate its dividend as customers defected and it wrote down the value of the purchase of Nextel Communications Inc. The fourth-quarter net loss was $10.36 a share, compared with net income of […]
