Archive for the 'Economy' Category
CHINESE STOCKS SUFFER BIGGEST LOSS IN TEN YEARS; 249 of the 300 ISSUES HALTED AFTER LIMIT DOWN
February 27th, 2007It would have gone further; 249 of the 300 issues on the main Shanghai and Shenzhen index went limit down—they lost 10% in a single session—before being halted. My take, in ten words or less: China wants fewer U.S. dollar time-bombs in its house. With regard to U.S. markets: Watch for the Plunge Protection Team […]
U.S. Mortgage Crisis Goes Into Meltdown
February 27th, 2007I explained the racket in my Wall Street Chop Shop essay. Via: Telegraph: Panic has begun to sweep the sub-prime mortgage sector in the United States after the bankruptcy of 22 lenders over the past two months, setting off mass liquidation of housing loans packaged as securities. The rapid deterioration could not come at a […]
U.S. Economy Leaving Record Numbers in Severe Poverty
February 25th, 2007Via: Bradenton.com: The percentage of poor Americans who are living in severe poverty has reached a 32-year high, millions of working Americans are falling closer to the poverty line and the gulf between the nation’s “haves” and “have-nots” continues to widen. A McClatchy Newspapers analysis of 2005 census figures, the latest available, found that nearly […]
De Facto U.S. Flat Tax: 40%
February 25th, 2007You godda problem wid dat? Via: MSN: Politicians… generally talk about only one tax: the federal income tax, which offers graduated rates from 10% to 35%. Politicians rarely talk about what real people experience: the true maze of taxes and government benefits. If someone put them all together, we could see what our actual tax […]
Ron Paul on the Federal Reserve
February 22nd, 2007Homeless by Choice
February 20th, 2007I’m from this area, and the fact that this guy only got done by the pigs once is amazing. His vehicle is pretty good. Anything bigger and it’s an automatic bust. Via: Los Angeles Times: After a long day of film classes, working at the Apple Store, rock climbing at the gym and finishing homework […]
How Extreme Is Your Job?
February 20th, 2007Hamster on the wheel? It’s more like out of the frying pan and into the fire. Via: MSNBC: “The hamster-on-the-wheel analogy is the best way to describe how I felt,” she says. For Agoglia, quitting felt like her only option. It’s a feeling shared by many Americans who know that simply working hard isn’t enough […]
HOME PRICES FALL BY LARGEST AMOUNT EVER
February 15th, 2007* yawn * Via: CNN: The slump in home prices was both deeper and more widespread than ever in the fourth quarter, according to a trade group report Thursday. Prices slumped 2.7 percent in the fourth quarter compared to the fourth quarter of a year earlier, according to the report from the National Association of […]
PROPOSED U.S. LEGISLATION: EXIT TAX
February 15th, 2007As wealthy people attempt to flee America, the U.S. Government is planning to rob them at gunpoint with a tax on UNREALIZED gains on their property! Via: DESCRIPTION OF THE CHAIRMAN’S MODIFICATION OF THE PROVISIONS OF THE “SMALL BUSINESS AND WORK OPPORTUNITY ACT OF 2007†Scheduled for Markup by the SENATE COMMITTEE ON FINANCE on […]
10 Stocks to Last the Decade, Revisited
February 15th, 2007Fortune should be called, How to Lose a Fortune. Via: Fool: Back in the summer of 2000, Fortune, a highly respected publication and home to many fine pieces of journalism over the years, published an article titled “10 Stocks to Last the Decade.” An easy enough challenge, one might surmise — simply picking 10 companies […]
