Archive for the 'Economy' Category
Wall Street Pulls Off Stunning, Late Comeback
August 16th, 2007The article calls “bargain hunters” on this rally. HA Yeah, bargain hunters all got together and waited until the last hour to act together… Sure. Computers can print credit really fast, which allows the plunge protection team firms to simply buy index futures, which causes the tide to raise all ships. Or, this is a […]
Anyone Watching the USD/JPY Action Tonight?
August 16th, 2007Holy sheeeeeeeeeeeiiiiiiiiiiiiit. Hats off to USD/JPY shorts tonight. Via: Bloomberg: The yen rallied to its highest since 2006 against the dollar as investors fled carry trades after global stocks fell and companies in Australia and Canada sought emergency funds because they were unable to refinance debt. The yen rose against all currencies bar the Brazilian […]
COUNTRYWIDE FINANCIAL: LARGEST U.S. MORTGAGE LENDER MAY FILE FOR BANKRUPTCY
August 16th, 2007Via: Bloomberg: Countrywide Financial Corp., the biggest U.S. mortgage lender, fell 13 percent, the most since the 1987 stock-market crash, after Merrill Lynch & Co. raised the possibility of bankruptcy. “Effective insolvency” would result if creditors force Countrywide to sell assets at depressed prices or investors lose confidence in its ability to raise cash, Kenneth […]
NASDAQ to Open Unregulated Private Stock Exchange for Investors with a Minimum of $100 Million in Assets
August 15th, 2007I’m sure that this has nothing to do with money laundering, and the fact that Afghanistan now supplies virtually all of the opium in the world. Via: Washington Post: Nasdaq is set to launch tomorrow what its executives are calling one of the most significant developments on Wall Street in decades — a private stock […]
Iranian Unit to Be Labeled ‘Terrorist’
August 15th, 2007This is an extremely serious development. By the way, has Halliburton stopped doing business with the Iranians yet? Via: Washington Post: The United States has decided to designate Iran’s Revolutionary Guard Corps, the country’s 125,000-strong elite military branch, as a “specially designated global terrorist,” according to U.S. officials, a move that allows Washington to target […]
SENTINEL MANAGEMENT SEEKS TO HALT REDEMPTIONS
August 15th, 2007Another crap shoot ponzi scheme gamble headed down the gurgler. Via: Reuters: Sentinel, a money market mutual fund firm for commodities, has asked the U.S. Commodities Futures Trading Commission to allow it to halt client redemptions until it can conduct them in an orderly fashion, CNBC television reported on Tuesday. “We had previously thought the […]
Wal-Mart Misses Profit Estimates, Cuts Forecast
August 14th, 2007Joe and Jane Six Pack can’t refinance now. The real estate ATM is closed. Via: Bloomberg: Wal-Mart Stores Inc., the world’s largest retailer, said second-quarter profit rose less than analysts anticipated and lowered its earnings forecast after the company cut prices on thousands of back-to-school items. … Price cuts, markdowns to clear out unsold goods, […]
Flush with Profits from the Iraq War, Military Contractors See a World of Business Opportunities
August 14th, 2007The Ministry of Whores of War is hiring. Via: Alternet: Since the launch of the “global war on terror,†the administration has systematically funneled billions of dollars in public money to corporations like Blackwater USA , DynCorp, Triple Canopy, Erinys and ArmorGroup.
Soviet America: 52% of Americans Receive Significant Income from Government Programs
August 14th, 2007I hear that the Ministry of Freedom Fries has contractor positions available. Must have active Top-Secret/Sensitive Compartmented Information security clearance. Ability to lift 50 pounds unassisted. Via: Christian Science Monitor: Slightly over half of all Americans – 52.6 percent – now receive significant income from government programs, according to an analysis by Gary Shilling, an […]
Central Banks Pouring Money into Markets
August 13th, 2007Move along. Nothing to see here. Go to Disneyland. Buy junk from Wal Mart. Stay asleep. The Federal Reserve will print money to keep your reckless, crap shoot, dog shit investments afloat. (For now.) This is the “free market” after all. Via: Yahoo: Wall Street opened higher Monday after the Federal Reserve and other central […]
