Archive for the 'Economy' Category
The Secret History of the War on Cancer
October 8th, 2007Via: Salon: Children shouldn’t use cellphones. No one should drink diet sodas sweetened with aspartame. And think twice before getting X-rayed with a CAT scan except in a bona fide life-threatening emergency. That’s just some of the precautionary advice that epidemiologist Devra Davis, who runs the runs the Center for Environmental Oncology at the University […]
Subprime Mortgages Slipping Into Default at Rapid Pace
October 8th, 2007Via: International Herald Tribune: Subprime mortgage bonds created in the first half of 2007 contain loans that are going delinquent at the fastest rate ever, according to Moody’s Investors Service. The average rate of “serious loan delinquencies” in the securities has been higher than 2006 bonds, Ariel Weil and Amita Shrivastava, analysts at Moody’s Investors […]
FDIC TO MORTGAGE SERVICERS: FREEZE ARM RATES
October 8th, 2007Oh sure! HAHA They know that the thing is hitting the wall. Change the rules, or the curtain comes down sooner rather than later. Get your popcorn ready for this show. It’s going to be good. Via: CNN: The heat on U.S. mortgage lenders and servicers was turned up a few degrees this week when […]
Gold: Ominous Chart Formations
October 7th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. As you know, I noticed a breakdown in the internals of the recent bullish gold move which resulted in some pretty wild volatility in the market. Once another weekly candle was in, I thought I’d take another look at how we […]
HSBC Warns of Hot Money Exodus from Britain Under ‘Siege’
October 6th, 2007“Sterling holders, consider reducing or eliminating your exposure to GBP denominated assets immediately.” —Cryptogon, September 18th, 2007 Via: Telegraph: HSBC, Britain’s biggest bank, has warned that Britain faces a stark “de-rating” by investors in coming months as growth slows and funds begin to lose confidence in the country’s economic management, triggering a mass exodus of […]
Bear Stearns Target of Criminal Investigation
October 6th, 2007Imagine my shock. Via: Reuters: U.S. prosecutors launched a criminal investigation into two mortgage-related hedge funds at Bear Stearns Cos. that collapsed during the summer, a person familiar with the investigation said on Friday. The U.S. attorney in Brooklyn, New York and the U.S. Federal Bureau of Investigation have begun the probe, which is in […]
Slain Soldier Told Family to Investigate if She Died; She Was Found Dead on Bagram Airbase in Afghanistan
October 5th, 2007Massachusetts National Guard Spc. Ciara Durkin told her family that something might happen to her after discovering, “something she didn’t like,” and she, “had raised concerns that had annoyed some people.” She was in a finance related unit. Afghanistan produces 95% of the world’s opium. Coincidence? I wonder if she connected the information to a […]
Industry Wouldn’t Fund Cancer Drug Research, So Alberta Town Rode to the Rescue
October 5th, 2007Via: CBC News: Even though the drug shrinks cancerous tumours, no pharmaceutical companies wanted to fund human trials because they couldn’t make enough money selling it. And that’s when Peace River stepped in. To date, the town in northwestern Alberta has collected $250,000 — a large chunk of the $800,000 in grants and donations generated […]
Another U.S. Bank Fails
October 5th, 2007Note the part about the depositors who became “creditors” to the bank? That’s a pleasant way of saying that clueless elderly people lost any portion of their deposits above the FDIC limit of $100,000. Via: Reuters: Miami Valley Bank, with $86.7 million in assets, became the third failed insured bank this year when Ohio’s industry […]
Attempt to Shake Gold Bugs Runs Into Wall of Buyers
October 5th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. We need to talk about stops and cranks. Cranks are an attempt by large players to shake valuable fruit from the tree around strategic support and resistance levels. In Insider Crimes, Funny Money and Options Rackets, I wrote: Market makers will […]
