Archive for the 'Economy' Category
U.S. Dollar Index Slips Under 78.33
September 24th, 2007We’re seeing prints under 78.33. Making history here. USDX has never been below 78.33. The Angry Old Fart Oscillator seems to be doing well so far. HA Via: Bloomberg: The dollar fell to a record low against the euro for a third straight session on Monday, weighed down by expectations of further U.S. interest rate […]
New Service Eavesdrops on Internet Calls to Display Ads Based on What’s Being Talked About
September 24th, 2007HA I thought, “Who would use this?” The answer came to me seconds later: Drunk college students. They’ll have to program a cunning drunken slur filter. Via: AP: A startup has come up with a new way to make money from phone calls connected via the Internet: having software listen to the calls, then displaying […]
Premier Says France Bankrupt
September 23rd, 2007Remember, a few days ago, when I asked, “Does anyone understand the French connection here?” as Henry Paulson, the U.S. Treasury Secretary, jetted around from London to Paris during the Northern Rock crisis… Uh… Via: Forbes: France is bankrupt because of chronic budget deficits, the country’s prime minister said Friday, pledging to balance the budget […]
Fears for Global Economy Propels Gold Price
September 23rd, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Guys, I don’t like it when the mainstream press starts to sound like Cryptogon. I don’t like it at all. When I wrote things like what you’ll read in the article below, before the move, it was actionable, valuable intelligence and […]
Feds Investigating Blackwater USA for Selling Weapons to Iraqi Insurgency
September 23rd, 2007Imagine my shock. But keep in mind, Blackwater is a CIA cutout that got so big that it just happened to become a household name. They’re just doing what Uncle tells them to do. Remember these? Pentagon Arms its Enemy’s Enemies in Iraq What Did $19 Billion Buy? U.S. “Loses” 190,000 Weapons in Iraq If […]
Prominent Los Angeles Investment Banker: Economy Facing ‘Colossal Problem’
September 22nd, 2007Via: Press Democrat: The U.S. economy might be in more trouble than some people think, a prominent Los Angeles investment banker said Thursday during a visit to Sonoma State University. Americans need to wake up to economic reality, said Ed Wedbush, chief executive of Wedbush Morgan Securities, one of the largest investment banking firms based […]
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 […]
