Archive for the 'Economy' Category
IRS: Make Sure You Declare Income from Criminal Activities
December 14th, 2006Via: All Financial Matters: I was reading through the “Other Income†section (scroll down as the page doesn’t seem to be loading correctly) in Publication 17 and found some pretty funny stuff. The section deals with all sorts of “other income†and whether or not you have to report it. Here’s some of the funny […]
Analysts: Dollar Collapse Would Result in ‘Amero’
December 14th, 2006HA! It’s not dinero, it’s amero! For years, this amero concept has seemed like a joke, but if you’re still holding U.S. dollars (or dollar denominated financial instruments), you won’t be laughing. Via: WorldNetDaily: Two analysts who have reconstructed money supply data after the Fed stopped publishing it argue a coming dollar collapse will set […]
“What Should I Do with My Money?”
December 13th, 2006WARNING: This is not a recommendation to buy sell or hold any financial instrument. Many people are emailing, wondering: What should I do with my money? While I think questions at this stage should be about water, shelter and food, a lot of Cryptogon readers still have investments on the brain; as if there’s some […]
Economic Storm Brewing in America
December 11th, 2006Via: Telegraph: The world economy is what matters, and I don’t like the smell of it. Nor, apparently, does Hank Paulson, who made $700 million at Goldman Sachs before taking over the US Treasury this year. He has reactivated a crisis team with a command centre in Washington to cope with the “systemic risk” in […]
Droves Say Goodbye to Golden State
December 11th, 2006Via: Mercury News: The Browns are an example of what demographers say appears to be an unprecedented phenomenon — even in a good economy, more people are leaving California for other states than are arriving from the rest of the country. Between 2004 and 2005, the migration flow into California from the other 49 states […]
Oil Producers Shun Dollar
December 10th, 2006Via Financial Times: Oil producing countries have reduced their exposure to the dollar to the lowest level in two years and shifted oil income into euros, yen and sterling, according to new data from the Bank for International Settlements. The revelation in the latest BIS quarterly review, published on Monday, confirms market speculation about a […]
Massive Insider Selling
December 9th, 2006What are they going to do with the cash? Do the rats have anywhere to hide their cheese? Via: NY Post: America’s corporate chiefs are unloading their own stocks at one of the boldest paces in 20 years. In cases of the very rich, such as Microsoft’s Bill Gates and Google’s top brass, the executives […]
U.S. Criminal Probe Rattles $2 Trillion Municipal Bond Market
December 9th, 2006Uhh… Via: Bloomberg: The first-ever antitrust probe of the municipal bond market is roiling an industry that states and cities depend on to finance everything from garbage trucks to schools. U.S. Justice Department prosecutors subpoenaed more than a dozen banks and insurers three weeks ago, seizing documents from three brokers in a search for evidence […]
U.S. Subprime Loans Face Trouble
December 9th, 2006Via: Yahoo: The failure of a small Californian mortgage lender on Thursrday increased nervousness in the credit derivatives market about the large number of US “subprime” mortgages extended this year. The cost of insuring against default on securities backed by subprime mortgages rose after Ownit Mortgage Solutions, in which Merrill Lynch has a 15 per […]
Georgia Foreclosures Jump 99%
December 7th, 2006We have just lost cabin pressure. Via: Atlanta Journal-Constitution: Hundreds of Georgians lost their homes Tuesday. The houses, taken from debt-laden homeowners, were sold to bidders on courthouse steps statewide. The increasingly busy monthly auctions show that not all of the residential market is in decline. Foreclosures are rising. More than 115,000 properties across the […]
