Archive for the 'Economy' Category
U.S. DOLLAR INDEX CROSSES BELOW 80
July 24th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Latest is USDX down .23 to 79.99. Will it get a foot hold, or slip off the cliff??? I thought we would see a bounce off of 80; at least a feeble one. If it’s going to happen, this is the […]
Dead Farmers Got $1.1 Billion from USDA
July 24th, 2007Via: MSNBC: The U.S. Department of Agriculture distributed $1.1 billion over seven years to the estates or companies of deceased farmers and routinely failed to conduct reviews required to ensure that the payments were properly made, according to a government report. In a selection of 181 cases from 1999 to 2005, the Government Accountability Office […]
Welcome to Richistan, USA
July 23rd, 2007Via: Guardian: America’s super-rich have returned to the days of the Roaring Twenties. As the rest of the country struggles to get by, a huge bubble of multi-millionaires lives almost in a parallel world. The rich now live in their own world of private education, private health care and gated mansions. They have their own […]
New Zealand Economy on ‘Death Spiral’ Due to Exchange Rate; Government Considering Emergency Monetary Policies
July 19th, 2007In case you’ve forgotten where I’ve been on this issue, let’s take a quick walk down memory lane, now that the New Zealand Government is considering emergency monetary policies, and the country teeters on the brink of ruin… Cryptogon analysis from April 3, 2007: Mainly, this is wealthy people from all over the place chasing […]
Gold, Oil and the U.S. Dollar All Nearing Key Levels
July 19th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Gold and oil are both locked and loaded for a major breakout from previous ranges. The dollar’s move down has been fast and astonishing, even to people like me who have no confidence in the thing. If the U.S. Dollar Index […]
Ice-Cream Makers Frozen Out as Corn Price Rises
July 18th, 2007HAHA! Did you hear the one about Dow 14,000? HAHA! Tell me another one. Via: Times Online: What’s the connection between ethanol, the biofuel produced from corn, and a cherry vanilla ice-cream? Answer: the first is responsible for pushing up the price of the other. This month, the price of milk in the United States […]
Goldman, JPMorgan Saddled With Debt They Can’t Sell
July 18th, 2007Come on guys, there are lots of suckers out there. Via: Bloomberg: Goldman Sachs Group Inc., JPMorgan Chase & Co. and the rest of Wall Street are stuck with at least $11 billion of loans and bonds they can’t readily sell. The banks have had to dig into their own pockets to finance parts of […]
Bear Stearns Warns Hedge Fund Investors of Total Loss
July 18th, 2007Via: Bloomberg: Bear Stearns Cos. told investors in one of its hedge funds that they won’t get any money back after creditors forced it to sell assets at depressed prices, according to a letter sent by the firm. While a second fund still contains “sufficient assets” to cover the $1.4 billion it owes the New […]
Ron Paul: U.S. in “Great Danger” of Staged Terror
July 14th, 2007Via: Infowars: Presidential candidate Ron Paul says the U.S. is in “great danger” of a staged terror attack or a Gulf of Tonkin style provocation while also warning that a major collapse of the American economy is on the horizon and could be precipitated by the bombing of Iran and the closure of the Persian […]
Retail Sales Plunged in June
July 13th, 2007Via: msnbc: Consumers put away their wallets in June, sending retail sales crashing by the sharpest amount in nearly two years. The Commerce Department reported Friday that retail sales fell by 0.9 percent last month, the biggest drop since August 2005. Demand for autos, furniture and building supplies all plunged. The drop was much bigger […]
