Archive for August, 2010
Dollar Hits 15-Year Low vs Yen After Fed Move
August 11th, 2010Via: Reuters: The dollar fell to a 15-year low against the yen on Wednesday as steps taken by the Federal Reserve to revive a faltering U.S. economy pushed U.S. Treasury yields lower. … The dollar dropped to 84.72 yen JPY= on trading platform EBS, after taking out option barriers at 85.00 and 84.75, in a […]
Californians’ Income Falls for First Time Since WWII
August 11th, 2010Via: Sacramento Bee: Government statisticians have put a number on Californians’ paycheck pain last year: about $40 billion. The federal Bureau of Economic Analysis said personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year – the state’s first year-to-year decline since World War II. In the Sacramento […]
White House Press Secretary: Leftwing Critics of Obama ‘Ought to Be Drug Tested’
August 11th, 2010Via: Guardian: The Obama administration’s most public face, White House press secretary Robert Gibbs, has tried to climb down from angry remarks he aimed at leftwing critics, calling them “crazy”. In an interview with The Hill newspaper in Washington DC, Gibbs revealed frustration at attacks on the administration from liberal Democrats and others on the […]
Fed to Buy More of Its Own Debt
August 11th, 2010*chortle* Via: Bloomberg: Federal Reserve officials decided to reinvest principal payments on mortgage holdings into long-term Treasury securities, making their first attempt to bolster growth since March 2009 to keep the slowing U.S. economy from relapsing into recession. “The pace of economic recovery is likely to be more modest in the near term than had […]
Student-Loan Debt Surpasses Credit Cards
August 11th, 2010Bubble, bubble, toil and trouble: Look at overall inflation vs. college education inflation. Via: Wall Street Journal: Consumers now owe more on their student loans than their credit cards. Americans owe some $826.5 billion in revolving credit, according to June 2010 figures from the Federal Reserve. (Most of revolving credit is credit-card debt.) Student loans […]
Elizabeth Warren Uncovered What the Government Did to ‘Rescue’ AIG, and It Ain’t Pretty
August 10th, 2010Unless the AIG imbroglio is untangled, the rest of this is nonsense. —Cryptogon, April 20, 2010 Here’s another one for your voluminous Captain Obvious file. Via: Alternet: The government’s $182 billion bailout of insurance giant AIG should be seen as the Rosetta Stone for understanding the financial crisis and its costly aftermath. The story of […]
‘Buy and Bail’
August 10th, 2010Via: Bloomberg: Harvey Collier, a mortgage broker in Fort Lauderdale, Florida, says he gets as many as 10 calls a month from people planning to default on their loans. The twist: They first want financing to buy another home. Real estate professionals call it “buy and bail,” acquiring a new house before the buyer’s credit […]
Google Raided by Korea Police in Probe of Street View
August 10th, 2010Via: Bloomberg: South Korean police raided Google Inc.’s Seoul office as part of an investigation into possible breaches of privacy laws resulting from the company’s collection of data for its Street View mapping service. Law-enforcement officials confiscated materials from Google in a raid today and will ask the company to surrender all data that may […]
“Putin Puts Out Two Wildfires in Central Russia”
August 10th, 2010This is hilarious, Soviet style propaganda. Better than the tiger incident, in my opinion. Click through to see the photo of ole’ Vlad himself at the controls. HAHAHA. Via: Ria Novosti: Russian Prime Minister Vladimir Putin on Tuesday took part in extinguishing forest fires in Ryazan Province on board an amphibious firefighting airplane. The Russian […]
Proposed Law Would Put Video Cameras In Cars
August 10th, 2010I’m sure the FBI wouldn’t access these cameras, like they access the microphones on the cell phones that people are carrying around. Oh no. Never. Via: CBS: Lawmakers are considering controversial new legislation this week that would allow vehicles to be equipped with dashboard cameras to record the moments leading up to accidents. The proposed […]
