Archive for March, 2008
Egypt Imposes Export Controls on Rice, Price Jumps to Record
March 28th, 2008Via: Financial Times: Rice prices jumped 30 per cent to an all-time high on Thursday, raising fears of fresh outbreaks of social unrest across Asia where the grain is a staple food for more than 2.5bn people. The increase came after Egypt, a leading exporter, imposed a formal ban on selling rice abroad to keep […]
Pentagon Orders Inventory of All U.S. Nukes
March 28th, 2008Via: CNN: Defense Secretary Robert Gates has formally ordered the Air Force, Navy and Defense Logistics Agency to conduct an inventory of all U.S. nuclear weapons and nuclear weapon-related materials to make sure all items are accounted for, according to a Pentagon memo released Thursday. The order comes in the wake of the discovery last […]
Germans Fear Meltdown of Financial System
March 28th, 2008Via: Der Spiegel: Germany and other industrialized nations are desperately trying to brace themselves against the threat of a collapse of the global financial system. The crisis has now taken its toll on the German economy, where the weak dollar is putting jobs in jeopardy and the credit crunch is paralyzing many businesses.
Spain’s Property Market in Freefall
March 28th, 2008Via: Independent: Spain’s once-booming property market is in freefall, official statistics have revealed for the first time. The announcement that house sales had plunged has dashed government hopes for a “soft landing” in the sector that has driven the Spanish economy for more than a decade. The buying and selling of homes fell by 27 […]
The Deep Ones and the Madness of Crowds
March 28th, 2008This thing, this situation we all face, cannot be changed by mass protests, gradual applications of pressure or any legislative process. Realize the fact that WE HAVE ALREADY LOST. Say it with me, “We have already lost.” Everyone reading this site knows it, whether you want to admit it or not. We all know that […]
Pipeline Blast Cuts Iraq’s Southern Oil Exports
March 27th, 2008Via: Reuters: Saboteurs blew up a major oil pipeline in Iraq on Thursday, sharply reducing exports from the south of the country for the first time in years, a South Oil Company (SOC) official told Reuters. The resulting blaze was quickly extinguished and officials said efforts were under way to get shipments back to normal […]
California Freefall: Home Prices Down 26% in February
March 27th, 2008Gap and crap. Via: Los Angeles Times: Signs of distress are piling up in the California housing market, where prices are falling at three times the national rate of decline. –Statewide, median sales prices fell by a stunning 26% from year-ago levels in February, with home prices dropping at a rate of nearly $3,000 a […]
Sold DBA
March 27th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Out, $38.58. I’m really fickle when playing the falling knives. I don’t like seeing rising prices on declining volume, like we saw yesterday. On a move like this, it could mean that it’s a sucker bounce, and it’s sputtering. When it […]
Banker Facing Prosecution Turns up Dead, Rest of Family Beaten to Death
March 27th, 2008“At some point, this thing is going to start looking less like a financial crisis and more like a mob war.” —Unloading Toxic Waste Mortgage Backed Securities: “We Americans Were Very Clever” Of course, Steven Sueppel acted alone. Fuggetaboutit. Via: AP: A mother and her four children found dead in their Iowa City home were […]
There Are More Slaves Today Than at Any Point in History
March 27th, 2008Via: Los Angeles Times: It wasn’t the first time I had encountered a slave in bondage. It wasn’t even the first time I had been offered a slave for sale. Over five years on five continents, I had infiltrated trafficking networks and witnessed other negotiations to buy and sell human beings. Worldwide, I’d met more […]
