Archive for the 'Economy' Category
Forget the Green Technology – The Hot Money Is in Guns
December 1st, 2007Naomi Klein gets close, but misses the mark. For those of us who understand clean, green fascism, it’s not a question of clean energy technology OR armaments and surveillance; it’s both. You won’t have viable clean technology without a total, fascist lockdown. I’ve said it from the beginning, and I’m saying it now. The technology […]
FOIA Request for Documents Related to the Plunge Protection Team Yields, “177 Pages of Crap”
November 30th, 2007Via: NY Post: November 29, 2007 — AFTER a year and a half of stalling, the US Treasury finally complied with The Post’s requests for information about The President’s Working Group on Financial Markets – by delivering 177 pages of crap. In essence, the Treasury’s Freedom of Information officials said that the Working Group – […]
U.S. Government, Banks Near a Plan to Freeze Subprime Rates
November 30th, 2007This Wall Street Journal front page story reads like news from some banana republic! You’ve got millions of slobs who took out toxic waste, impossible to pay back loans and the largest banks in the land engaged in a Mexican standoff. Who’s going to pay for all those subprime mortgage lotto winners? U.S. Dollar holders, […]
More than 50,000 Lost Their Homes in October
November 29th, 2007The momentum phase has only just begun. Via: CNN: Foreclosure filings nearly doubled in October and more people could lose their homes in 2008, according to a report released Thursday. In October, 224,451 foreclosure filings were reported nationwide, up 94 percent from October 2006 and up 2 percent from September, according to RealtyTrac. In the […]
Portfolio Ideas
November 28th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Several readers are panicking and emailing me messages that go something like: “How can I protect my assets? I’ll pay you to devise a plan for me.” Guys, I’m not a financial adviser. Financial advisory services are government regulated, like real […]
CHINA FUEL SHORTAGES
November 27th, 2007Via: The Australian: CHINA is running out of fuel. Police are guarding petrol stations in several inland provinces to prevent fights, as shortages of petrol and diesel are causing huge queues of trucks, buses and cars. In Kunming, capital of the southwestern province of Yunnan, 1000 trucks are stranded. A truck driver named Li told […]
HSBC Finds $35 Billion to Bail Out Investment Outfits Caught by U.S. Mortgage Fallout
November 27th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. “The other one I like short is HSBC. Just look how far above zero it is… Flying so high in the 80s.” —Cryptogon, November 14, 2007 Cryptogon November 14 vs. Goldman Sachs November 27. Hmm. I’m going to have to get […]
U.S. Mortgage Crisis Slams Property Values, State Tax Receipts
November 27th, 2007Via: Bloomberg: The worst U.S. housing recession in 16 years will drive down property values by $1.2 trillion next year and slash tax revenue by more than $6.6 billion, according to a report by the U.S. Conference of Mayors. California, the hardest-hit state, will suffer a $630.6 billion decrease in property values that will cut […]
Abu Dhabi Buys Citigroup Some Time
November 27th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. HAHAHA Priceless! Instead of Helicopter Ben on the banner, I need some guys on magic carpets, flinging cash over lower Manhattan. Anyone thinking about playing the put options lotto on some of the most screwed financials this morning? Deep out of […]
Hedge Fund that Shorted Subprime Assets Up Over 1000% this Year; Fund’s Manager Tells Clients, “Our Entire Banking System is a Complete Disaster” and Use Profits to Buy Gold
November 26th, 2007Lots of people have an opinion on gold. But how many of them are running funds that are up over 1000% for the year? Just one. Via: Financial Times: A Californian hedge fund has made more than 1,000 per cent return this year by betting against US subprime home loans, making it one of the […]
