Archive for the 'Economy' Category
Bernanke Abolishes Corrections and Bank Losses
September 22nd, 2007Via: Safe Haven: By lowering rates by .50 points the Fed not only surprised the stock market, which forced shorts to close out positions and caused people to react to the news and create an outsized rally, but sent a very powerful message: The Fed will not allow the market to have a pullback of […]
Mystery Trader Who Bet Market Would Crash by September 21?
September 22nd, 2007The options have expired worthless. When I originally mentioned this, I asked, “Hedging or forknowledge?” Hedging appears to be the answer. However, in Summer of Fear Coming to a Close, Clif Droke theorizes that the put options deal itself was some kind of fear generating tactic. To me, that seems like it would leave way […]
Northern Rock Effectively ‘Nationalised’ by State Guarantee
September 21st, 2007Via: Telegraph: Northern Rock has effectively been nationalised by the Treasury’s unprecedented guarantee this week to protect all deposits at the beleaguered mortgage lender. Details of the arrangement, published yesterday, revealed that the bank’s commercial paper has been entirely underwritten by the taxpayer. Sources said the move had effectively turned billions of pounds of Northern […]
Dubai Buys 20% Stake of Nasdaq; Abu Dhabi Takes Part of Carlyle Group
September 21st, 2007Via: International Herald Tribune: While American and European companies have been shelving acquisitions after jitters in the credit market dried up potential financing, oil-producing countries in the Middle East showed Thursday that they do not share the same limitations. In a series of multibillion-dollar deals, Dubai, Qatar and Abu Dhabi reached out to acquire significant […]
U.S. DOLLAR INDEX NEARING ALL TIME LOW
September 20th, 2007Guys, I don’t believe it, but the U.S. Dollar Index is at 78.37 as I type. 78.33 is the all time low set back on August 31, 1992. Where’s the Plunge Protection Team? HA
Sterling Extends Losses, Hits 17-Month Low vs Euro
September 20th, 2007Told ya. Via: Reuters: Sterling dropped to its lowest in 1-1/2 years against a broadly strong euro on Thursday, weakening beyond 70 pence, as investors continued to sell the pound on the view UK interest rates have peaked and may be cut.
U.S. Dollar in Freefall: “Risk of a Disorderly Adjustment of Global Imbalances”
September 20th, 2007The sheep are about to notice the wolves. Via: Financial Times: The dollar dropped to record to record lows through the $1.40 level against the euro on Thursday as the US currency continued its slide following the Federal Reserve’s decision to cut interest rates earlier in the week. “The key $1.40 level has been breached […]
EMERGENCY: FEARS OF DOLLAR COLLAPSE AS SAUDIS TAKE FLIGHT
September 20th, 2007U.S. dollar holders: Battle stations. Are we going to crack 79 on USDX and really get this party started? If you’re holding U.S. dollar denominated assets, you’re holding hand grenades with the pins pulled. Full text follows. Via: Telegraph: Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for […]
U.S. Government’s Plan to Protect You From Terrorist Livestock
September 19th, 2007It’s baaaaaaaaack. Actually, it never left. But we knew that. Via: Alternet: NAIS would compel all owners of such animals to register their premises and personal information in a federal database, to buy microchip devices and attach them to every single one of their animals (each of which gets its very own 15-digit federal ID […]
Black Ops Jungle: The Academy of Military Industrial Complex Studies
September 19th, 2007Via: Mother Jones: Dedicated to everything from architecture to sports medicine, “career academies” claim to offer high school kids focus, relevancy, and solid job prospects. Now add a new kind of program to the list: homeland security high. In late August, Maryland’s Joppatowne High School became the first school in the country dedicated to churning […]
