Archive for the 'Economy' Category
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 […]
Magic 8 Ball Gambling Antics Going Off the Rails
August 13th, 2007Sound investments for the future = reckless gambling Pay close attention to the part in bold below. Via: Financial Times: The much-heralded financial rocket scientists responsible for the explosion in complex mathematical trading strategies are bracing themselves for fresh pain after what one team of analysts called “the perfect storm†last week. Quantitative strategists, or […]
Structured Investment Vehicles’ Role in Crisis
August 13th, 2007This is the most frightening financial story I’ve come across in a long time. Hundreds of billions of dollars worth of what, exactly? Nobody seems to know. Well, somebody probably knows, but investors, the financial press and government regulators have no idea WTF is going on. Yep. Situation normal. You know the rest. There is […]
The System, Like the Berlin Wall, Must Come Down
August 12th, 2007Nice essay on the Soviet style free market. Via: Unknown News: One hugely interesting aspect of this week’s mortgage and debt shenanigans is the role of the Federal Reserve as “Protector of the Realm” when “The System” freezes up and begins to implode upon itself. Normally the Fed diligently attends to its primary functions of […]
Central Banks Working Together to Avert Crash
August 11th, 2007Look at the back of a $1 bill. See the glimmering eye above the pyramid? It’s glimmering a bit brighter right now. Via: Bloomberg: Central banks in the U.S., Europe, Japan, Australia and Canada added about $136 billion to the banking system in an attempt to avert a crisis of confidence in global credit markets. […]
