Venezuela stops open-pits and gold mines
Thursday, May 15th, 2008 Posted in Economic News | No Comments »Mineral-laden Venezuela on Thursday shut the door to new gold projects and threatened other mining and logging concessions in a step by leftist President Hugo Chavez to tighten control of natural resources.
Congress to Saudis: Give Us Oil or No Guns
Thursday, May 15th, 2008 Posted in Economic News | No Comments »A group of Democratic senators wants to make a massive arms sale to Saudi Arabia contingent on getting cheaper oil, reports AFP. "We are saying to the Saudis that, if you don't help us, why should we be helping ...
L.A. prepares massive water-conservation plan
Thursday, May 15th, 2008 Posted in Economic News | No Comments »A similar system was approved and built in the 1990s, then abandoned after critics labeled it a "toilet-to-tap" scheme.
Feds Direct Loans to Banks Climb to Record Level
Thursday, May 15th, 2008 Posted in Economic News | No Comments »Federal Funds provided through the so-called discount window for banks rose by $2.8 billion to a daily average of $14.4 billion in the week to May 14, the central bank said today in Washington.
The Battle for America Has Begun- Strategic Forecasts
Thursday, May 15th, 2008 Posted in Economic News | No Comments »This article contains several forecasts, including the possible start of a major war with unforeseeable consequences, if the U.S. should happen to attack Iran . Of course it is in the nature of forecasts to be speculative. There are ...
Damages Will Take Many Years To Mend; by Bob Chapman
Thursday, May 15th, 2008 Posted in Economic News | No Comments »Poison from the top down, Fed is wrong to signal end of crisis, more negative surprises in the markets to come, Mortgage market upside down, major conflicts always a threat, It could be major conflicts are going to break ...
61% - Trading Away U.S. Jobs
Wednesday, May 14th, 2008 Posted in Economic News | No Comments »By a margin of more than six-to-one (61% to 9%), the U.S. public now says free trade agreements result in job losses rather than in new jobs; a solid majority (56%) also says that free trade makes wages lower ...
DID BEAR STEARNS FALL OR WAS IT PUSHED?
Wednesday, May 14th, 2008 Posted in Economic News | No Comments »Evidently "promoting market stability" means that whistle-blowers and the SEC must be silenced so that a grossly illegal situation can continue, since the crime is so pervasive that to expose it and prosecute the criminals would unravel the whole ...
The Housing Bust and Lending: The Worst Is Yet to Come
Wednesday, May 14th, 2008 Posted in Economic News | No Comments »The entire housing bubble was essentially a debt bubble, driven by lending standards which sank to near-zero (anyone with a pulse willing to lie was suddenly qualified to borrow hundreds of thousands of dollars),
Foreclosure flood: 1,000 auctions per day in California
Wednesday, May 14th, 2008 Posted in Economic News | No Comments »California's foreclosure crisis passed another ominous milestone in April, when more than 1,000 foreclosed homes were auctioned off every weekday at courthouses across the state
[Video] Alert: Six Carrier Groups Headed for the Gulf
Wednesday, May 14th, 2008 Posted in Economic News | No Comments »Alert: Six Carrier Groups Headed for the Gulf
Former Fed chief Volcker sees 70s-style inflation risks
Wednesday, May 14th, 2008 Posted in Economic News | No Comments »Former U.S. Federal Reserve Chairman Paul Volcker warned on Wednesday the United States could face a 1970s-style period of skyrocketing inflation if investors lose confidence in the buying power of the U.S. dollar. "If there is a real loss ...
CDO DEBT COULD POSE RENEWED DANGER FOR BANKS
Wednesday, May 14th, 2008 Posted in Economic News | No Comments »Just when Wall Street firms thought the worst of the credit crisis was over, investors in funky mortgage-tainted debt may unleash a fresh bout of pain for embattled banks like Citigroup, UBS, Lehman Brothers and Bank of America.
[Video] Peter Schiff on Fox - make a lotta money in GOLD
Wednesday, May 14th, 2008 Posted in Economic News | No Comments »Peter Schiff on Fox - make a lotta money in GOLD
Thai Rice Price Breaches $1,000 a Ton for First Time
Wednesday, May 14th, 2008 Posted in Economic News | No Comments »The benchmark price for rice exported from Thailand, the world's biggest supplier, breached $1,000 a metric ton for the first time today as importers rushed to secure supplies, heightening concern about a global food crisis.
US foreclosure filings surge 65 percent in April
Wednesday, May 14th, 2008 Posted in Economic News | No Comments »Late payments drive number of US homes facing foreclosure in April up 65 percent from year ago
China growth to keep commodity boom alive
Tuesday, May 13th, 2008 Posted in Economic News | No Comments »Long-term growth prospects in China should continue to fuel the country's insatiable demand for raw materials like copper and keep a commodity boom in place for years to come, a hedge fund executive said.
CITI BANK IS BEYOND REPAIR!
Tuesday, May 13th, 2008 Posted in Economic News | No Comments »Banking analyst Meredith Whitney blasted Citigroup's turnaround plan yesterday, saying the financial giant is so deep in a black hole that even renown physicist Stephen Hawking could not help the ailing company.
Is The Deep Financial Crisis Overwhelming Gold Price Manipulation?
Tuesday, May 13th, 2008 Posted in Economic News | No Comments »The gold price manipulators seem to be losing their clout. We could be in for some serious decline in the value of the US dollar, stocks, and bonds in the coming weeks, along with much higher gold prices. ...
Libor Set for Overhaul as Credibility Is Doubted
Tuesday, May 13th, 2008 Posted in Economic News | No Comments »The benchmark interest rate for at least $347 trillion of derivatives and 6 million U.S. mortgages is set for its biggest shakeup in a decade on concern that banks misquoted their true borrowing costs.
Bush calls new attack on US his worst worry
Tuesday, May 13th, 2008 Posted in Economic News | No Comments »A question submitted from the online audience asked Bush whether he felt he had been misled about Iraq as he made the decision to go to war. "`Misled' is a strong word," he said. "Not only our intelligence community, but ...
US confession: Weapons were not made in Iran after all
Tuesday, May 13th, 2008 Posted in Economic News | No Comments »In a sharp reversal of its longstanding accusations against Iran arming militants in Iraq, the US military has made an unprecedented albeit quiet confession: the weapons they had recently found in Iraq were not made in Iran at all.
The oily truth about Americas foreign policy
Tuesday, May 13th, 2008 Posted in Economic News | No Comments »With the oil price heading upwards and President George W. Bush heading for Saudi Arabia, as part of a Middle Eastern tour, it is time to accept the truth. The pursuit of oil is fundamental to US ...
Credit crisis makes Americans sell possessions
Tuesday, May 13th, 2008 Posted in Economic News | No Comments »Americans who have lost their homes in the property crisis are starting to lose their possessions too as even the cost of storage proves too much for them.
New records for oil, gas $126.98 a barrel!
Tuesday, May 13th, 2008 Posted in Economic News | No Comments »Oil prices shot to a new record near $127 a barrel Tuesday on concerns that Iran may consider cutting crude oil production. Gas prices, meanwhile, rose to a new record over $3.73 a gallon Tuesday, and their advance shows ...