Archive for the 'Economy' Category
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 […]
GOLD GAP
October 15th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Japanese retailers are chasing the move. Watch the F out! Don’t get whipsawed on this thing. Via: Forbes: Gold rose to a 28-year peak as the dollar weakened further against the euro and as oil prices held near new record levels […]
Treasury Claims Power to Seize Gold and Silver — and Everything Else
October 14th, 2007Via: GATA: Because of recent inquiries to GATA about the possibility of an attempt by the U.S. Government to confiscate privately held gold and silver bullion and coins and shares in companies mining the precious metals, we’re republishing here the correspondence between GATA and the U.S. Treasury Department on the subject in 2005. The Treasury […]
The United States of Subprime: “I’m Going to Lose My Home Anyway, So Why Pay?”
October 13th, 2007Via: Wall Street Journal: The Journal’s findings reveal that the subprime aftermath is hurting a far broader array of Americans than many realize, cutting across differences in income, race and geography. From investors hoping to strike it rich by speculating on condominiums to the working poor chasing the homeownership dream, subprime loans burrowed into the […]
Big Banks Trying to Avoid Global Economic Crash, Planning to Back as Much as $100 Billion in “Shaky” Mortgage Securities and Other Investments
October 13th, 2007How these banks are going to juggle so much filthy, festering, hemorrhaging debt is a mystery to me. Maybe governments will eventually wind up eating it, like with Northern Rock in the UK. Maybe hyperinflation will make paying these debts down much easier. Maybe… Hmm. How much opium is Afghanistan producing??? This is an astonishing […]
