Archive for the 'Economy' Category
Oil $80
September 12th, 2007Think of $60 as the gateway to $40 on the downside and $80 as the gateway to $100 on the upside. There’s a bit of a perfect storm coming together here with very tight inventories and the collapsing dollar. Via: Yahoo: Oil futures prices rose sharply Wednesday, briefly climbing above a record $80 a barrel […]
The Coming Financial Crash: “Where Everyone in the House is Crazy Only the Sane Seem Like Fools”
September 12th, 2007Via: European Tribune: The unease, verging on panic, about sub-prime mortgages has given us a glimpse of what is ahead. But, let us be very clear, it has been only a glimpse. Sub-prime securitised mortgages are only a relatively tiny part of the huge credit and debt structure involved in what we may group under […]
MEXICO GAS LINE EXPLOSIONS FORCE MAJOR FACTORIES TO CLOSE DOWN
September 12th, 2007I can’t think of a time in history when the individual insurgent has had such an incredible asymmetric advantage over his opponent. Hierarchical dominator systems—now enjoying primacy on a global scale—exist atop a delicate grid of undefended energy and information infrastructures. With just a bit of intelligent planning, today’s insurgent can turn a small improvised […]
Treasury Gain May Falter; Foreign Holders Flee Dollar
September 11th, 2007WARNING: This is not a recommendation to buy sell or hold any financial instrument. There is going to be great pain here as older, wealthier people wake up to the fact that their “fixed income” class investments are wild ass, risk of ruin gambles. We’ve been through it over and over again: Shelter, water, food, […]
Banks Face 10-Day Debt Timebomb
September 11th, 2007This might be related to the massive Eurostoxx 50 put options bet that is in play now. Related: Telegraph: Britain’s biggest banks could be forced to cough up as much as £70bn over the next 10 days, as the credit crisis that has seized the global financial system sparks a fresh wave of chaos. Almost […]
Mexico: Insurgents Attack Six Oil and Gas Pipelines
September 11th, 2007Undefended critical infrastructure… Via: Reuters: Explosions rocked Mexico on Monday as attacks on six pipelines disrupted oil and gas supplies and forced thousands from their homes, just weeks after leftist rebels set off a string of pipeline bombs. Huge billowing flames lit the night sky after the blasts in the early hours of the morning. […]
Indian Software Firm to Outsource to U.S.
September 8th, 2007Before you listen to this, try to think of all the reasons why Wipro would want to do this. There are several. Via: NPR: Morning Edition, September 6, 2007 · Indian software firm Wipro plans to open a big software design center in Atlanta. The Bangalore, India-based firm expects to hire around 500 computer programmers […]
Gold Rallies Through $700 as U.S. Payrolls Fall
September 7th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. We all know that this is what gold “should” be doing. That’s what scares me. I wonder what’s different about now? Yeah, I know. Take your pick. Can we get some Central Bank selling in here, please, so we can all […]
Syria Fires on Israeli War Planes
September 6th, 2007Via: AFP: Syria said its air defences opened fire on Israeli warplanes which had violated Syrian airspace at dawn on Thursday, ratcheting up the tensions between the neighbouring foes. A Syrian cabinet minister warned that the nation’s leadership was considering its response to the Israeli “aggression” while in Jerusalem the military declined any comment. “Enemy […]
Record Drop in Pending Home Sales
September 5th, 2007Via: CNN: The meltdown in the mortgage market caused the biggest drop on record in July for pending home sales, taking the index down to the lowest level since the month that included the Sept. 11, 2001 terrorist attack. The National Association of Realtors’ pending home sales index, which measures contracts to buy existing homes, […]
