Archive for August, 2010
Illegal Immigrants Account for 8% of U.S. Newborns
August 16th, 2010Via: Bloomberg: As many as 340,000 of the 4.3 million babies born in the U.S. in 2008 had at least one parent who was an illegal immigrant, according to a Pew Hispanic Center study of Census Bureau data. Unauthorized immigrants, who make up a little more than 4 percent of the population, are for the […]
Oakland: Mr. Lee’s Greater Hong Kong
August 16th, 2010It’s right out of Snow Crash. Where are the Kong Bucks? Via: New York Times: In a basement office that serves as a police headquarters and community center, Oakland Chinatown leaders pored over maps of the neighborhood with representatives from a private security firm last week. “Many of our merchants are already installing cameras,” said […]
Goldman Sachs Could be Largely Unaffected by ‘Financial Overhaul’
August 16th, 2010Don’t worry, I won’t bring back the smirking Blankfein banner. Via: Los Angeles Times: As Wall Street scrambles to find the best and most profitable way to operate under the new financial reform law, Goldman Sachs Group Inc. — the firm that was expected to suffer the most under the legislation — could emerge practically […]
UAE Imports Five Tons of Fake Gold
August 16th, 2010Via: Emirates 24|7: Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims. Speaking to Emirates 24|7, Mohamad Shakarchi,, Managing Director of Emirates Gold, said: “A lot of people in […]
Another Threat to Economy: Boomers Cutting Back
August 16th, 2010See the Bloomberg piece, U.S. Is Bankrupt and We Don’t Even Know It: We have 78 million baby boomers who, when fully retired, will collect benefits from Social Security, Medicare, and Medicaid that, on average, exceed per-capita GDP. The annual costs of these entitlements will total about $4 trillion in today’s dollars. Yes, our economy […]
Companies Rush to Issue Riskier Debt as Investors Look for Higher Returns
August 16th, 2010Via: Wall Street Journal: U.S. companies issued risky “junk” bonds at a record clip this week, taking advantage of keen investor appetite for returns amid declining interest rates and tepid stock markets. The borrowing binge comes as the Federal Reserve keeps interest rates near zero and yields on U.S. government debt are near record lows. […]
Cattle Cloned from Dead Animals to Produce ‘That Memorable Taste’
August 16th, 2010Bon Appétit! Via: BBC: Some of the cattle cloned to boost food production in the US have been created from the cells of dead animals, according to a US cloning company. Farmers say it is being done because it is only possible to tell that the animal’s meat is of exceptionally high quality by inspecting […]
Even Street Criminals Are Spending Less
August 16th, 2010Via: Guardian: Richard Gaines is one of the best-known faces on Camden’s Haddon Avenue. It is a rough-and-tumble street, lined with cheap businesses and boarded-up houses, and is prey to drug gangs. Gaines, 50, runs a barbershop, a hair salon and a fitness business. He works hard and is committed to his community. But Haddon […]
Hindenburg Omen
August 16th, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Many people are submitting the Hindenburg Omen thing, so this is mostly to let you know: Yes, I’ve seen that information. As for what I think about it: I’d refer to what I wrote about the recent Cisco caper, which applies […]
Afghanistan Says Finds 1.8 Billion Barrel Oilfield
August 15th, 2010Via: Reuters: Afghanistan said on Sunday it had discovered an oilfield with an estimated 1.8 billion barrels in the north of the war-ravaged country, where U.S. and other foreign forces are trying to tame a Taliban-led insurgency. The discovery of the basin between northern Balkh and Shiberghan provinces was made after a survey conducted by […]
