Archive for August, 2008
Are Gold Prices Failing to Reflect Shortages of Gold Bullion? No.
August 17th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. There are some stories floating around saying that the U.S. Mint has suspended sales of American Eagle gold coins. I haven’t posted these stories because, as I write this, the U.S. Mint continues to take orders for the coins. The U.S. […]
Dollar Rally
August 16th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. On August 8th, with regard to the U.S. Dollar Index and dollar bears, I wrote: U.S. Dollar Index, Weekly Interval We need to keep a close eye on this now because it has the potential to turn very ugly. I encourage […]
Subprime Pain Sweeps the World
August 16th, 2008Via: Business Day: MORE than 100 local councils, charities, churches, hospitals and nursing homes across Australia are sitting on a $2 billion black hole after buying subprime investments structured by Wall Street banks during the bull market but which are now potentially worthless. Melbourne’s Metropolitan Ambulance Service and local councils are among those facing losses […]
Ikea Looking to Sell Solar Panels
August 16th, 2008Via: CleanTech: The furniture giant plans to invest €50 million in cleantech startups, with the goal of eventually selling solar panels, smart meters and other technology in its stores. Sweden’s Ikea may need to super-size its shopping carts. The furniture retailer unveiled an investment group today to put €50 million into cleantech startups over the […]
Russia Seizes Arsenal of U.S. Weapons in Georgia
August 15th, 2008I’m squinting as I follow this situation. I almost don’t want to look. Via: Dow Jones: Russian forces have seized a “large arsenal” of U.S.-made weapons in the western Georgian city of Senaki including hundreds of assault rifles, a military spokesman said Friday. “In Senaki, we seized a large arsenal of weapons including 664 U.S.-made […]
RICE: ALL RUSSIAN TROOPS IN GEORGIA “MUST LEAVE IMMEDIATELY”
August 15th, 2008Via: Dow Jones: All Russian forces and irregular units with them must leave Georgia immediately, U.S. Secretary of State Condoleezza Rice said in the Georgian capital Tbilisi Friday. Speaking at a joint press conference with Georgian President Mikhail Saakashvili after he had signed a ceasefire deal, Rice said: “With the signing of this accord, all […]
Pub Goers Trade Home Grown Produce for Beer
August 15th, 2008Mmm hmm. Via: Money: Credit crunch pinched residents of one Norfolk village have been taking advantage of an inventive means to save the pennies without cutting back on nights out. Thanks to the resourcefulness of their local pub, ‘The Pigs’, they can now barter fresh produce in return for pints of beer. The pub, in […]
Thumb Print for Ammo Sales in California
August 15th, 2008Via: SacBee: A Sacramento man pleaded guilty Tuesday to possession of ammunition by a felon after buying bullets from a local sporting goods store. Ramon Michael Clark, 31, entered his guilty plea in federal court before U.S. District Judge John A. Mendez, according to a news release by the office of U.S. Attorney McGregor Scott. […]
Home Sellers Suffering Huge Losses
August 15th, 2008Via: CNN: More homeowners than ever are selling at a loss, propelling the real estate market deeper into crisis. In the 12 months that ended June 30, nearly 25% of all homes sold nationwide fetched less than sellers originally paid, according to real estate Web site Zillow.com. While the nation’s double-digit decline in home prices […]
ECB Slammed as Europe Crumbles
August 15th, 2008Europe tied itself to the mast of the doomed United States Ship of Fools; Germany more than any of the rest. Who’s leading the way down in Europe? Germany. Blaming the ECB is convenient because it avoids questioning the absurd assumptions of neo liberalism and fractional reserve banking. Via: Telegraph: The economies of Germany, France […]
