Archive for the ‘Financial crisis’ Category
Posted by smeddum on September 22, 2009
Sterling falls against the euro as parity beckons
By Deborah Hyde
22 September 2009
Citywire
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Sterling continues to fall against the euro as increasing numbers of market watchers believe a move to parity is on the cards.
At 10.44, sterling was trading at €1.1031 against the euro – within spitting distance of all-time lows of €1.0193 last December.
Ian Williams, strategist at Altium Securities, says yesterday’s quarterly report from the Bank of England has put extra pressure on sterling. Read the rest of this entry »
Posted in Financial crisis | Tagged: pound's pounding | Leave a Comment »
Posted by smeddum on September 22, 2009
By Paul Craig Roberts
September 21, 2009
Americans cannot get any truth out of their government about anything, the economy included. Americans are being driven into the ground economically, with one million school children now homeless, while Federal Reserve chairman Ben Bernanke announces that the recession is over. Read the rest of this entry »
Posted in Financial crisis | Tagged: Bernanke | Leave a Comment »
Posted by smeddum on September 21, 2009
Posted in Financial crisis | Tagged: China, Jim Willie | Leave a Comment »
Posted by seumasach on September 20, 2009
PressTV
20th September, 2009
Iran’s President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in the country’s foreign exchange accounts.
Read the rest of this entry »
Posted in Financial crisis, Multipolar world | Tagged: dollar collapse, End of empire, Iran, Multipolar world | Leave a Comment »
Posted by seumasach on September 20, 2009
Of course, spending has to be cut: let’s start with ending our wars, slashing defence spending and dismantling the apparatus of empire, as well as ending welfare for parasitic city financiers.
Times
19th September, 2009
Britain is clocking up debt at a rate of £6,017 per second as the Government struggles to balance the books. With tax receipts plummeting because of the recession, state borrowing grew by £16.1 billion last month — almost twice the entire budget for the 2012 Olympics.
Read the rest of this entry »
Posted in Financial crisis, UK economy | Tagged: End of empire, financial collapse, stop the bailout, UK government debt | Leave a Comment »
Posted by smeddum on September 17, 2009
Sep. 17 2009 —
Will Obama listen to ex-Fed chief Paul Volcker’s warnings?
trueslant
by Matt Taibbi
Sept. 16 (Bloomberg) — Paul Volcker, the former Federal Reserve chairman who’s an economic adviser to U.S. President Barack Obama, today renewed his call for a limit on the activities of banks that are considered “too big to fail.”
via Volcker Renews Call for Limits on Systemically Important Banks – Bloomberg.com. Read the rest of this entry »
Posted in Financial crisis | Tagged: Matt Taibbi, Obama deception | Leave a Comment »
Posted by smeddum on September 17, 2009
Ghost Towns May Haunt Ireland in Property Loan Gamble (Update2)
By Dara Doyle
Sept. 15 (Bloomberg) — The skeleton of an eight-story Dublin office block lays deserted on the north bank of the River Liffey, just next to the financial district that less than two years ago was the heart of Ireland’s economic boom. Read the rest of this entry »
Posted in Financial crisis | Tagged: Ireland | Leave a Comment »
Posted by smeddum on September 16, 2009
Tues Sept 15
By Juan Lagorio
NEW YORK (Reuters) – Bank of America Corp and Citigroup Inc customers defaulted on their credit card debts in August at the highest rates since the onset of the recession, a sign that the banks’ consumer lending woes are far from over. Read the rest of this entry »
Posted in Financial crisis | Tagged: phony recovery | 1 Comment »
Posted by smeddum on September 14, 2009
14/9/o9
dailymail
The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination – and is why your Christmas stocking may be on the light side this year
The ‘ghost fleet’ near Singapore. The world’s ship owners and government economists would prefer you not to see this symbol of the depths of the plague still crippling the world’s economies. Read the rest of this entry »
Posted in Financial crisis | Tagged: shipping crisis | Leave a Comment »
In These New Times 