Archive for the 'Economy' Category
Wall Street Caught in a Perfect Storm, or Not
October 20th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. When you start a fire, be to windward of it. Do not attack from the leeward. —Sun Tzu, The Art of War Look, 367 points is fly fart antics at these levels. On a percentage basis, the Dow only lost 2.64%. […]
Debtor Nation: The Rising Risks of the American Dream, on a Borrowed Dime
October 20th, 2007Via: Harvard Magazine: Consumerism is as American as cherry pie. Plasma TVs, iPods, granite countertops: you name it, we’ll buy it. To finance the national pastime, Americans have been borrowing from abroad on an increasingly stunning scale. In 2006, the infusion of foreign cash required to close the gap between American incomes and consumption reached […]
Goldman Sachs: Traitors and Con Artists
October 20th, 2007Good one. Via: 321Gold: Goldman Sachs controls our Treasury and quite a few aspects of the banking system and has a huge influence on more than one country’s central banks. A Goldman Sachs man took over the banking system of Canada this week, for example. Just last month, Bernanke had a lunch with Paulson, the […]
U.S. Armaments Industry Backing Hillary Clinton
October 19th, 2007In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing […]
Council on Foreign Relations: Regional Monetary Integration
October 19th, 2007Regional Monetary Integration by Peter B. Kenen and Ellen Meade Bonus points for the coincidence value: The biggest front for the elite in the world publishes a book about monetary integration as the U.S. Dollar collapses. Priceless. Via: Council on Foreign Relations: This book surveys the prospects for regional monetary integration in various parts of […]
OIL $90
October 19th, 2007Via: Bloomberg: Crude oil breached $90 a barrel in New York for the first time as the dollar traded near a record low against the euro, enhancing the appeal of commodities as an investment. Investors purchased oil on speculation the Federal Reserve will cut borrowing costs to bolster the U.S. economy when policy makers meet […]
New Treasury Documents Reveal Loans, Swaps of U.S. Gold
October 18th, 2007U.S. gold reserves in play? I don’t really understand how this would work. The article says that the gold is being sold into the spot market. Doesn’t the gold have to be replaced? How do the parties who borrowed the gold pay it back? They would have to buy it back again, presumably lower, right? […]
Southern California Real Estate Goes Off the Cliff
October 17th, 2007Via: Los Angeles Times: September proved to be the cruelest month yet for the sputtering Southern California housing market, as monthly home sales fell to their lowest point in nearly 20 years. … Overall, September home sales in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties fell 48.5% from a year earlier, […]
The First Baby Boomer Collects Social Security
October 16th, 2007Via: ABC News: “I just happened to be the first. The first of many,” Casey-Kirschling said. Today, she reached another milestone — she became the first baby boomer to sign up to receive Social Security payments. “It’s a great feeling to know that after all these years of working and seeing that taken out of […]
OIL RECORD
October 15th, 2007Via: Bloomberg: Crude oil rose to a record above $85 a barrel as tensions on the Turkey-Iraq border increased concern that supplies may be threatened as global stockpiles decline. Turkish lawmakers will vote this week on allowing military attacks within a year against Kurdish rebel bases in the north of Iraq, which has the world’s […]
