Posted by seumasach on November 27, 2009
Dan Roberts
27th November, 2009
The biggest mystery of the Dubai debt crisis is not why this desert dream has turned into a nightmare, but why it took so long. Ever since US homeowners started defaulting on sub-prime mortgages two years ago, the tightening of international lending conditions has put the squeeze on investment bubbles around the world. Some, like Iceland or the British housing boom, popped relatively quickly, but others have been slower to collapse.
Posted in Financial crisis | Tagged: Dubai, failing banks, financial collapse | Leave a Comment »
Posted by seumasach on November 26, 2009
26th November, 2009
Gold hits a record high for the third time this week as the dollar index falls to its lowest in 15 months, stimulating investors to find an alternative.
Posted in Financial crisis | Tagged: gold | Leave a Comment »
Posted by smeddum on November 24, 2009
250,000 Irish workers strike
Tuesday 24 November 2009
Unions have caused massive disruption across Ireland as public services shut down in a national strike over pay cuts.
More than 250,000 public workers joined the walkout – thought to be the biggest in 30 years. Read the rest of this entry »
Posted in Financial crisis | Tagged: Ireland | Leave a Comment »
Posted by smeddum on November 24, 2009
Nov 21st 2009
I have had a good day in browsing through the economic news, as I found three very interesting articles which together represent a consistent theme (although I say lucky, I mean only in the finding but not the implications of the content). The first of these comes from Ambrose Evans-Pritchard, the second Peter Schiff, and the last Liam Halligan. For the former, Ambrose Evans-Pritchard, I often disagree with his analysis, but can not dispute that he often identifies some fascinating stories on the economy. Today, I came across an articlewhich is of particular interest, and some highlights are given below: Read the rest of this entry »
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Posted by seumasach on November 24, 2009
Not Sylvia Night
23rd November, 2009
The international financial elites wield enormous power over governments both in developing and developed industrial countries.
Posted in Financial crisis | Tagged: peak oil | Leave a Comment »
Posted by seumasach on November 4, 2009
Nov. 3 (Bloomberg) — Gold jumped to a record after India’s central bank bought 200 metric tons of the metal from the International Monetary Fund, heightening speculation that there may be more official purchases.
Posted in Financial crisis | Tagged: dollar collapse, gold | Leave a Comment »
Posted by smeddum on November 4, 2009
Jim Willie CB
October 28, 2009
Actually, the golden opportunity is for buying silver at current prices. The motive for lifting the USDollar was the gargantuan $115 billion in USTreasurys offered this week. With bond yields rising from gargantuan supply, the USGovt and USDept Treasury and USFed did not wish to have both bond principal values fall and the USDollar fall. So the maestros engineered a meager semi-lifeless US$ rally, and a full 100-cent silver price discount. The claim again came that the bond auction bid/cover was strong at over 3:1 ratio. But 1.0 of that comes from the primary dealers who are bound to bid. The rest came in majority from foreign central banks. Same Modus Operandi by the Usual Suspects. The difference is that precious metals were taken down in price, using the typical shorting of futures contracts sponsored and endorsed by the USGovt, free of collateral regulatory requirements. Heck, we could all bring down the price of cotton, and make boxer shorts (jockeys too) cheap, if we all were permitted to sell in gargantuan quantities without benefit of cotton in possession. Now is yet another opportunity to gather in gold, and especially silver, at a hefty price discount. The silver price after some stabilizing days will be ready for a serious assault on the $20 price level. See the brief technical review later in this article. Read the rest of this entry »
Posted in Financial crisis, Multipolar world | Tagged: dollar collapse | Leave a Comment »
Posted by smeddum on October 29, 2009
Posted in Financial crisis | Tagged: coming hyperinflation, Peter Schiff | Leave a Comment »
Posted by smeddum on October 27, 2009
McDonald’s pulls out of Iceland
27/10/09
McDonald’s is seen as a part of most developed economies
McDonald’s is to close its business in Iceland because the country’s financial crisis has made it too expensive to operate its franchise. Read the rest of this entry »
Posted in Financial crisis, Revolution in Iceland | Tagged: bankrupt iceland, Revolution in Iceland | Leave a Comment »
Posted by smeddum on October 26, 2009
Posted in Financial crisis | Tagged: bankrupt america | Leave a Comment »
Posted by smeddum on October 26, 2009
by Joseph Palermo
26/10/09
Not to be outdone, the billionaire CEO candidate Meg Whitman, through her spokesman Tucker Bounds — (yes, the same guy who claimed Sarah Palin had “national security” experience because she was “commander-in-chief” of the Alaska National Guard) — proposes permanently slashing at least $15 billion from the state budget, and laying off 40,000 public employees — in addition to massive tax cuts for her rich friends. Read the rest of this entry »
Posted in Financial crisis | Tagged: California Failed State | Leave a Comment »
In These New Times 