Archive for the 'Economy' Category
Jim Cramer Goes Nuts Live on TV, Talks About Armageddon
August 4th, 2007This is funny, unless you plan on relying on fixed income securities for something besides toilet paper. Cramer is like a smack addict, locked in a padded room, who will do anything for another hit: MORE CREDIT!!! MORE CREDIT!!! MOOOOOOOOORE CREDDDDDDDIT! Pulling out the last strands of hair on his head, clawing out his eyeballs… […]
Unpaid Teens Bag Groceries for Wal-Mart
August 2nd, 2007Always low prices. Via: MSNBC: Wal-Mart is Mexico’s largest private-sector employer in the nation today, with nearly 150,000 local residents on its payroll. An additional 19,000 youngsters between the ages of 14 and 16 work after school in hundreds of Wal-Mart stores, mostly as grocery baggers, throughout Mexico—and none of them receives a red cent […]
World Stocks in Meltdown Over U.S. Economy Fears
August 1st, 2007Via: Yahoo / AFP: European and Asian stock markets plummeted Wednesday, mirroring heavy losses the previous day in New York, on mounting fears that weakness in the US housing sector could infect the world economy.
Crash Alert: 5 Steps to Take Immediately
August 1st, 2007For the dawdlers out there, this is decent info re: gambling and paper games. Via: Money and Markets: With last week delivering the worst stock market rout in nearly five years, millions of investors are in a state of paralysis. They’re finally beginning to wake up to the enormity of the meltdown in the housing […]
BEAR STEARNS HALTS REDEMPTIONS ON THIRD HEDGE FUND
August 1st, 2007Via: Bloomberg: Bear Stearns Cos., manager of two hedge funds that collapsed last month, halted redemptions from a third fund after a slump in credit markets prompted investors to demand their money back. The Bear Stearns Asset-Backed Securities Fund had about $900 million invested in asset-backed securities, including mortgage bonds, spokesman Russell Sherman said today […]
Charts: Mass Foreclosures Threaten the U.S.
July 31st, 2007Traders have a word for chart patterns like these: breakout. Via: Efinance Directory: Home foreclosure activity continues to soar nationwide over the past year, particularly in the states of Nevada, California, Arizona, and Florida. We’ve compiled a detailed analysis of the foreclosure crisis, including up-to-date graphs depicting recently reported foreclosure activity for these states.
BP Gets OK to Dump Mercury into Lake Michigan
July 31st, 2007Via: USA Today: A BP refinery in Indiana will be allowed to continue to dump mercury into Lake Michigan under a permit issued by the Indiana Department of Environmental Management. The permit exempts the BP plant at Whiting, Ind., 3 miles southeast of Chicago, from a 1995 federal regulation limiting mercury discharges into the Great […]
Oil Settles Above $78, Setting Record
July 31st, 2007Via: Yahoo / AP: Oil futures settled at a record high above $78 Tuesday on expectations that crude inventories fell last week and reports of new violence in Nigeria, a large oil producer and key supplier to the U.S.
American Home Mortgage Investment Corp. Collapses
July 31st, 2007Via: Bloomberg: American Home Mortgage Investment Corp. shares plunged 90 percent after the lender said it doesn’t have cash to fund new loans, stranding thousands of home buyers and putting the company on the brink of failure. Investment banks cut off credit lines, leaving American Home without money yesterday for $300 million of mortgages it […]
“Prices on Shotgun and Rifle Shells, Along with Components for Loading, Have Increased More Than 50 Percent Since Sept. 1”
July 30th, 2007Via: Statesman: If you haven’t bought shotgun shells in a few months — and most people have not — you’re in for a surprise when you buy a few boxes along with your hunting license next month. Prices have been going up for at least a year, and they will go up again in September. […]
