Archive for the 'Economy' Category
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 […]
Iran Replaces Dollar with Euro in Most Oil Dealings
December 6th, 2006Via: Mher News: Iran has started replacing dollar with euro in majority of its crude oil exchanges in the last several months, an informed source with Iran’s Oil Ministry said here on Tuesday. Oil Ministry has taken the policy to substitute dollar with euro, and begun to implement it for most of its oil dealings, […]
Richest Two Percent of People Own More than Half the World
December 5th, 2006Via: Reuters: Two percent of adults have more than half of the world’s wealth, including property and financial assets, according to a study by the U.N. development research institute published on Tuesday. While global income is distributed unequally, the spread of wealth is even more skewed, the study by the World Institute for Development Economics […]
U.S. Plans Permanent Base on Moon
December 5th, 2006If this turns into, “We need the helium 3 because of peak oil,” friend, ask for extra sugar with your KoolAid. What will the U.S. national debt be by the time they light the fuse on Bozo’s rocket ship to the moon? $20 trillion? $100 trillion? The Chinese better keep buying up that U.S. debt…………………… […]
Boston Massacre: Real Estate Prices Now at 2004 Levels
December 4th, 2006Remember what I wrote about downward momentum increasing… Via: Boston Herald: Boston house prices plunged last month at their fastest pace in more than 13 years, erasing all gains recorded since early 2004, new figures show. Market tracker The Warren Group reported yesterday that median house-sale prices in Suffolk County, which mostly consists of Boston, […]
