Archive for October, 2007
California: Abandoned Real Estate Developments and People Who Bought at the Top
October 21st, 2007Oh man, it’s getting ugly out there.
Miami Real Estate Crash: Properties Sell for Half Price at Auction
October 21st, 2007Trying to catch a falling knife too soon… It’s going to get so much worse.
Vultures Are Circling Over Distressed Properties
October 21st, 2007Via: Washington Post: Call them grave dancers, vulture funds, turnaround specialists or the more euphemistic “opportunity investors.” However you identify them, the deal is the same: When hyperactive real estate markets lose their sizzle, or property owners no longer can afford to hang on to their houses, well-capitalized investors smell blood and move in. That’s […]
Zimbabwe’s Millionaires Worth Only $1
October 20th, 2007Via: Times Online: Zimbabwe’s currency has fallen to record levels, with one million Zimbabwean dollars buying a single US dollar (48p) and inflation reaching 8,000 per cent. The bleak data was announced as people in the capital Harare struggled to cope without electricity for the third day. “We closed our business today,†said a woman […]
Wall Street Caught in a Perfect Storm, or Not
October 20th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. When you start a fire, be to windward of it. Do not attack from the leeward. —Sun Tzu, The Art of War Look, 367 points is fly fart antics at these levels. On a percentage basis, the Dow only lost 2.64%. […]
Debtor Nation: The Rising Risks of the American Dream, on a Borrowed Dime
October 20th, 2007Via: Harvard Magazine: Consumerism is as American as cherry pie. Plasma TVs, iPods, granite countertops: you name it, we’ll buy it. To finance the national pastime, Americans have been borrowing from abroad on an increasingly stunning scale. In 2006, the infusion of foreign cash required to close the gap between American incomes and consumption reached […]
Goldman Sachs: Traitors and Con Artists
October 20th, 2007Good one. Via: 321Gold: Goldman Sachs controls our Treasury and quite a few aspects of the banking system and has a huge influence on more than one country’s central banks. A Goldman Sachs man took over the banking system of Canada this week, for example. Just last month, Bernanke had a lunch with Paulson, the […]
Wavebob Works
October 20th, 2007And they’re in a partnership with Chevron. That’s right, that Chevron. Via: AFP: A prototype wave energy converter has begun harnessing electricity from Atlantic waves off the west coast of Ireland, the Wavebob company said on Tuesday. A “Wavebob” floating buoy device that automatically adjusts to the size of the waves to maximise the amount […]
Cryptogon Reader Contributes $1.82
October 20th, 2007Thanks MH.
Breathtaking Abuse of the Constitution
October 20th, 2007Via: Phoenix New Times: This newspaper and its editorial staff — both current and former — are the targets of unprecedented grand jury subpoenas dated August 24. The authorities are also using the grand jury subpoenas in an attempt to research the identity, purchasing habits, and browsing proclivities of our online readership. It is, we […]
