Archive for the 'Economy' Category
Germans Get by Without the Euro
January 26th, 2007Via: Telegraph: If you live in the Bavarian region of Chiemgau, you can exist for months at a time in a euro-free zone of hills and lakes with a population of half a million people. Restaurants, bakeries, hairdressers and a network of supermarkets will accept the local currency: the Chiemgauer. Notes are exchanged freely like […]
Amero: “Now Is the Time” to Discuss a North American Dollar
January 26th, 2007Via: The Star: If Canadians are going to debate the idea of a single North American currency, “now is the time it should be on the table,” according to the chief economist at Toronto Dominion Bank.
Ford: Biggest Loss Ever
January 25th, 2007Via: CNN: Ford Motor Co. reported the largest annual loss in company history Thursday, as the embattled automaker posted a fourth-quarter loss that was worse than analysts’ expectations and the company warned of worse showings ahead. Weak sales of its key pickup trucks in the quarter and $9.9 billion in after-tax charges resulted in $12.7 […]
DID THE U.S. JUST FORCE IRAN TO STOP ACCEPTING DOLLARS FOR OIL?
January 24th, 2007Remember all the endless talk about the Iranian Oil Bourse and the shift to the eruo? It appears that the U.S. just forced the issue and sent Iran down that road! It’s hard to know if the White House has completely lost it, or if there is actually a forward looking plan. Because, right now, […]
U.S. TO DOUBLE SIZE OF STRATEGIC PETROLEUM RESERVE
January 23rd, 2007Well, well, well… The U.S. spends more on the war in Iraq in one day (about $300 million) than it does on the ANNUAL BUDGET for the primary government laboratory that is tasked with renewable energy and energy efficiency research and development. And this is the energy plan for the future… Via: Bloomberg: Crude oil […]
China Will Use Cash Reserves to Buy “Strategic Resources”
January 23rd, 2007Via: Bloomberg: China, the world’s biggest consumer of coal and metals, will use its foreign exchange reserves to buy “strategic” resources, Vice Premier Zeng Peiyan said. The government will increase the nation’s purchases of resources for strategic stockpiling when there are “plentiful” reserves, Zeng said in a speech carried on the Ministry of Land and […]
Energy Scarcity vs. Cost of the War in Iraq
January 22nd, 2007I built a spreadsheet with functions that break down the cost of the war in Iraq into dollars per minute. According to the Pentagon, the war in Iraq is costing $8.4 billion per month. Cost of the War in Iraq Per Minute Cost per month: 8400000000 Cost per week: 2100000000 Cost per day: 300000000 Cost […]
Federal Workers Owe Billions in Unpaid Taxes
January 18th, 2007HA! Via: WTOP: As the 2006 tax season approaches, the federal government is still trying to recover nearly $3 billion from its own employees who failed to file income tax returns for 2005. More than 450,000 active and retired federal employees did not voluntarily comply with federal income tax requirements for the 2005 tax year, […]
Military Gear Bound for Iran, China Traced to Pentagon Surplus Sales
January 16th, 2007The Axis of Weasels. Via: International Herald Tribune: The U.S. military has sold forbidden equipment at least a half-dozen times to middlemen for countries — including Iran and China — who exploited security flaws in the Defense Department’s surplus auctions. The sales include fighter jet parts and missile components. In one case, federal investigators said, […]
Major Investment Bank Issues Warning on Strike Against Iran
January 16th, 2007If you liked my Oil Options for Gamblers piece, you’ll love this. The underlying oil contract is up about $4 from where it was when I put out that call. I’m not tooting my own horn. If I thought I was such a great oil analyst, I would have bought some of those call options […]
