Archive for the 'Economy' Category
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 […]
U.S. Banks Brace for Storm Surge as Dollar and Credit System Reel
September 18th, 2007If all of this is still a bit baffling, spend some time with this excellent piece by Mike Whitney. Via: Counterpunch: By now, you’ve probably seen the photos of the angry customers queued up outside of Northern Rock Bank waiting to withdraw their money. This is the first big run on a British bank in […]
Gold Rallies on Rate Cut
September 18th, 2007😉 Via: Bloomberg: Gold futures rose to a 27-year high after the Federal Reserve cut interest rates, sending the dollar to a record low against the euro and boosting the appeal of the precious metal as a currency hedge. The Fed lowered its benchmark rate by 0.5 percentage point, more than economists forecast, to 4.75 […]
U.K.: Strong Decline in Housing Prices
September 18th, 2007Could the top finally be in on that thing? Via: in2perspective: The Rightmove monthly report shows a 2.6% decline in house prices across England and Wales in the last month. Rightmove, the largest advertiser of property for sale in England and Wales, has published figures showing the largest monthly fall in asking prices since the […]
OIL RECORD
September 18th, 2007Another eddy current to add to the perfect storm. Via: IHT: Oil prices climbed to a fresh high above US$81 a barrel amid hopes that the U.S. Federal Reserve will cut a key interest rate later Tuesday, a move the market believes would bolster the economy and strengthen petroleum demand in the world’s largest energy […]
