Archive for the 'Economy' Category
Foreclosed Homes Occupied by Homeless
February 21st, 2008Via: Houston Chronicle: The nation’s foreclosure crisis has led to a painful irony for homeless people: On any given night they are outnumbered in some cities by vacant houses, and some street people are taking advantage of the opportunity by becoming squatters. Foreclosed homes often have an advantage over boarded-up and dilapidated houses abandoned because […]
Gold: New Record, Up and Out of Previous Range
February 21st, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Gold has broken out higher from the previous range, setting a new all time high. It has decisively breached both daily and intraday overhead resistance levels. Oil is trying to stay over $100, but can’t manage for the moment. With regard […]
America’s Economy Risks the Mother of All Meltdowns
February 20th, 2008I’m posting the entire article because it sums up the situation in a concise and accessible manner. Highly recommended. Via: Business Spectator / Financial Times: Martin Wolf, Financial Times Twelve steps to meltdown “I would tell audiences that we were facing not a bubble but a froth – lots of small, local bubbles that never […]
Britain: Northern Rock Deal Could Cost £3,500 Per Person
February 20th, 2008Via: Telegraph: The cost of the Northern Rock crisis has reached the equivalent of £3,500 for every taxpayer as experts warned that the nationalisation rescue of the bank was bound to fail. Taxpayers’ exposure to the beleaguered bank has doubled since the beginning of the year and now stands at about £110 billion – more […]
Energy Conflicts and Differential Profits: Poor Performance of Oil Stocks Predicts Middle East Conflicts
February 19th, 2008Via: Alternative Information Center — Economy of the Occupation 10: Cheap Wars: The key beneficiaries of this new, indirect link are the large oil companies. The geographic centre of this process is the Middle East. After the Vietnam War, the Middle East has become the hot spot of global conflict, with obvious corollaries for the […]
UN: Saboteurs May Have Cut Mideast Telecom Cables
February 19th, 2008“I wouldn’t be surprised, however, if the Them were to bring the Internet down as a false flag operation, blame Bin Laden, et al. and provide the pretext for the economic collapse that is, in reality, long over due. If the Internet comes down… it will indicate that the Them feel that there is nothing […]
U.S. Banks Borrow $50 Billion via New Fed Facility Against “Garbage Collateral Nobody Else Wants to Take”
February 19th, 2008Via: Financial Times: US banks have been quietly borrowing massive amounts of money from the Federal Reserve in recent weeks by using a new measure the Fed introduced two months ago to help ease the credit crunch. The use of the Fed’s Term Auction Facility, which allows banks to borrow at relatively attractive rates against […]
NORTHERN ROCK TO BE NATIONALISED
February 17th, 2008Via: Financial Times: The UK Treasury is to announce on Sunday that it is to nationalise Northern Rock, the troubled British bank, the Financial Times understands. The decision ends months of efforts to find a private sector rescuer for the stricken mortgage lender, which ran into trouble as a result of the international credit squeeze. […]
Iran Opens First Oil Products Bourse
February 17th, 2008Well, Iran finally did it. Somewhat. They’re not trading crude oil yet. It’s oil products. Interestingly, they opened during the short window of time over the weekend when global financial markets are closed. So… Yeah. I don’t really know what to make of this so far. Via: Forbes: Iran, OPEC’s number two crude oil producer, […]
The Next Crisis Will be Over Food
February 17th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The mainstream media is figuring it out, quite late, as usual. Be careful, though, about timing long entries when Goldman Sachs is shilling something higher, or short when they’re badmouthing something. Remember what happened after that late November 2007 Goldman Sachs’ […]
