Archive for February, 2010
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February 5th, 2010Thank you. VCHC €30 BF AU$20 MC $10
Ex-BofA Chief Lewis Charged with Fraud
February 5th, 2010Via: CNN: New York Attorney General Andrew Cuomo said Thursday it was bringing civil charges against senior Bank of America executives, including former company CEO Ken Lewis, for their role in the company’s controversial purchase of Merrill Lynch. Separately, the Securities and Exchange Commission said it had struck a $150 million settlement agreement with BofA […]
Potential for Financial Emergency in Europe
February 5th, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Update: Dollar: Next Leg Up 80.240 —End Update— We need to watch Portugal, Spain and Greece closely. The sovereign debt situation could easily get out of control. I’m watching EUR/USD as the proxy for the situation. On faster intraday periods, EUR/USD […]
The U.S. Industrial Organic Milk Swindle
February 4th, 2010Via: Politics of the Plate: On some bureaucrat’s desk in President Obama’s Office of Management and Budget (OMB), sits a document that has the power to either destroy the nation’s 1,800 family-operated organic dairy farms or come to their rescue. In the early 2000s, virtually all of the nation’s organic dairy farmers—not to mention the […]
Next in Line for a Bailout: Social Security
February 4th, 2010Via: Fortune: Don’t look now. But even as the bank bailout is winding down, another huge bailout is starting, this time for the Social Security system. A report from the Congressional Budget Office shows that for the first time in 25 years, Social Security is taking in less in taxes than it is spending on […]
Gold Hits Three Month Low; EUR/USD Seven Month Low
February 4th, 2010Via: Reuters: Gold tumbled 3.8 percent to a three-month low in Europe on Thursday as the euro hit its weakest in seven months against the dollar, pushing the precious metal through key technical support levels. Other precious metals also fell, with silver sliding more than 5 percent to its lowest since September, platinum dropping more […]
One in Five Children in New York City Relying on Emergency Food Aid
February 4th, 2010Via: NBC New York: One in eight Americans needed emergency food help in 2009—–one of five children in New York City are relying on emergency food. These sad statistics come from Feeding America and the Food Bank for New York City. “Food insecure” is the bureaucratic term for hungry people — and New York is, […]
Sim City Baghdad
February 4th, 2010Via: On The Media: The U.S. Army has long used video games to train troops in conventional warfare. But the wars in Iraq and Afghanistan are anything but conventional. US troops fighting insurgencies need a unique skill set, one they’re learning from a simulator that resembles the popular game SimCity. Kim LeMasters, creative director of […]
GOLD WHACKED
February 4th, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Spot is 1074.80 x 1075.80 right now, down $34.50. That $1075 support area was breached and it hit $1064.10, which is a support area. The next support is right around $1030. The dollar has round number resistance (80) just overhead and […]
Moody’s Warns U.S. of Credit Rating Fears
February 4th, 2010Via: Financial Times: Moody’s Investors Service fired off a warning on Wednesday that the triple A sovereign credit rating of the US would come under pressure unless economic growth was more robust than expected or tougher actions were taken to tackle the country’s budget deficit. In a move that follows intensifying concern among investors over […]
