Archive for August, 2008
FBI to Begin Terrorism Investigations on Americans “Without Any Basis for Suspicion”
August 23rd, 2008As usual, the Dems squeak pathetically while refusing to do anything substantive (hint: “purse strings”) to stop the slide into ever darker levels of fascism. Via: AP: Proposed rules to help the FBI catch terrorists could lead to innocent Americans being spied upon by government agents or informants “all without any basis for suspicion,” a […]
Biden
August 23rd, 2008I’ve come to view thinking about national elections in the U.S. as a form of mental illness. In order to take the process seriously, you’ve got to check your brain at the door. The willing suspension of disbelief is fine for watching movies, but what should we call it when millions of people do it […]
FDIC Friday: Columbian Bank and Trust of Kansas Shut by Regulators
August 23rd, 2008Via: Reuters: Columbian Bank and Trust Co. of Topeka, Kansas, was closed by U.S. regulators today, the ninth U.S. bank to collapse this year amid bad real-estate loans and writedowns stemming from a drop in home prices. The bank, with $752 million in assets and $622 million in total deposits, was shuttered by the Kansas […]
Oil Falls 5.4% in Biggest Drop Since 2004
August 23rd, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. A couple of days ago, during the crank rally in oil and gold, and the sell off of the dollar, I wrote: These moves look like very technical plays. I’d be extremely careful chasing gold or oil long here. These look […]
Five Men Found Murdered in Alabama Apartment
August 22nd, 2008Via: Burmingham News: Five men found slain in a Shelby County apartment appeared to have been bound by duct tape before their throats were slashed, authorities said Thursday. The men, who were last seen alive Sunday and were discovered Wednesday night, did not appear to have been shot first, authorities said after the first autopsies […]
Sterling Tumbles as UK Economy Grinds to a Halt
August 22nd, 2008Via: Financial Times: Sterling tumbled on Friday as official figures showed UK economic growth ground to a halt in the second quarter of this year, strengthening fears the economy is already contracting. The Office for National Statistics revised its first estimate of second quarter growth by more than expected as it said output had been […]
Security Turns U.S. Conventions Into $100 Million Fortresses
August 22nd, 2008Via: Bloomberg: Two U.S. cities will become virtual fortresses during the Democratic and Republican nominating conventions, protected by airplanes, helicopters, barriers, fences and thousands of police officers, National Guard troops and Secret Service agents. In Denver, where Democrats assemble next week, police are spending $18 million on equipment alone and will be bolstered by National […]
Russia Has Such a Large Grain Harvest There’s Not Enough Storage
August 22nd, 2008Good news on the grains supply side, I think. Well, maybe not. Russia doesn’t have the infrastructure in place to handle such a massive harvest. Via: Bloomberg: Russia risks running out of storage capacity for corn, wheat and barley after the best harvest in at least 15 years, threatening a government plan to expand agricultural […]
A Few Speculators Dominate Vast Market for Oil Trading
August 21st, 2008Mmm hmm. Full text. Via: Washington Post: Regulators had long classified a private Swiss energy conglomerate called Vitol as a trader that primarily helped industrial firms that needed oil to run their businesses. But when the Commodity Futures Trading Commission examined Vitol’s books last month, it found that the firm was in fact more of […]
Wall Street Journal Claims U.S. Mint Has Stopped Selling American Eagle Gold Coins
August 21st, 2008Hmm. That’s interesting, because, as of right now, the U.S. Mint is still selling them online (with a hefty premium built in). There’s always a supply of gold coins for sale on eBay. If you want 1oz American Eagles, go to eBay and search for american eagle gold $50. It will be interesting to see […]
