Archive for the 'Economy' Category
Living in America’s Fringe Economy
December 31st, 2006Via: AlterNet: Far from a mom-and-pop industry, America’s fringe economy is largely dominated by a handful of large, well-financed multinational corporations with strong ties to mainstream financial institutions. It is a comprehensive and fully formed parallel economy that addresses the financial needs of the poor and credit-challenged in the same way as the mainstream economy […]
U.A.E. Central Bank Is Selling Dollars, Buying Euros
December 27th, 2006Via: Bloomberg: The United Arab Emirates will convert 8 percent of its foreign-exchange reserves to euros from dollars before September after the U.S. currency slumped this year, the country’s central bank governor said. The U.A.E. has started “in a limited way” to sell part of its dollar reserves, Sultan Bin Nasser al-Suwaidi said in an […]
The United States is Insolvent
December 20th, 2006And somehow, the band plays on… Via: Financial Sense University: Despite improvement in both the fiscal year 2006 reported net operating cost and the cash-based budget deficit, the U.S. government’s total reported liabilities, net social insurance commitments, and other fiscal exposures continue to grow and now total approximately $50 trillion, representing approximately four times the […]
U.S. Supreme Court to Consider Eminent Extortion Case for Review
December 20th, 2006Via: Institute for Justice: A federal court has now approved an extortion scheme using eminent domain under last year’s Kelo decision. Unless the U.S. Supreme Court overturns the rulings, developers may threaten property owners, “Your money or your land.†Think this is an overstatement? Consider what is happening right now in Port Chester, N.Y., to […]
Made in USA: A Big Slump
December 20th, 2006Via: Newsweek: The world is unprepared for a slump made in America. That’s the distinct impression I gather from six weeks of globe-hopping that took me to Japan, South Africa, the Middle East, Singapore, Hong Kong, China and Australia. Most I met believe that the world has now “decoupled” from the United States—with increasingly robust […]
Thailand: Made Ya Look!
December 20th, 2006Via: Guardian: Shares on the battered Bangkok market staged a recovery this morning after Tuesday’s 15% plunge, but dealers said confidence remains fragile amid fears of a re-run of the Asian financial crisis a decade ago. By 12.30 local time, the Thai SET Index had jumped 11% to 688.17, its biggest gain in almost eight […]
U.S. Inflation Gaps Up by Largest Amount in 32 Years
December 19th, 2006Via USA Today: Inflation at the wholesale level surged by the largest amount in more than 30 years in November, reflecting higher prices for gasoline and a host of other items. The producer price index, which measures inflation pressures before they reach the consumer, was up 2% last month, biggest advance since a similar increase […]
Tucson Military Recruiters Ran Cocaine
December 18th, 2006Via: Arizona Daily Star: A Midtown strip mall that should have housed the best of the best served as Corruption Central in Tucson. Two military recruiting stations sit side-by-side there, one run by the Army, the other by the Marines. Between them, a total of seven recruiters were on the take, secretly accepting bribes to […]
Tax Leads Americans Abroad to Renounce U.S. Citizenship
December 18th, 2006And the wait to do it has increased, “from a few days to more than three and a half months.” Via: New York Times: She is a former marine, a native Californian and, now, an ex-American who prefers to remain discreet about abandoning her citizenship. After 10 years of warily considering options, she turned in […]
U.S. Mint: Don’t Melt the Pennies and Nickels
December 14th, 2006Oh yeah, and don’t try to carry more that $5 worth of the coins out of the U.S. Thanks. Have a nice flight… The restrictions on moving things of value OUT of the U.S. are, in my opinion, the most telling signs that the U.S. is approaching economic collapse. If they’re implementing this rule for […]
