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Keyword: globaleconomy

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  • Global Deflation Alert: World Trade Growth Has Ground To A Halt

    08/02/2016 12:22:43 PM PDT · by Lorianne · 20 replies
    Contra Corner ^ | 28 July 2016 | Johannes Fritz and Simon J Evenett
    Falling rates of global trade growth have attracted much comment by analysts and officials, giving rise to a literature on the ‘global trade slowdown’ (Hoekman 2015, Constantinescu et al. 2016). The term ‘slowdown’ gives the impression of world trade losing momentum, but growing nonetheless. The sense of the global pie getting larger has the soothing implication that one nation’s export gains don’t come at the expense of another’s. But are we right to be so sanguine? World trade volume plateaued around January 2015 Using what is widely regarded as the best available data on global trade dynamics, namely, theWorld Trade...
  • Brexit Hits Fragile Global Economy, Putting Federal Reserve In A Bind

    06/27/2016 4:18:02 AM PDT · by expat_panama · 11 replies
    Investors Business Daily ^ | 6/24/2016 | JED GRAHAM
    The unexpected U.K. vote to leave the European Union has predictably set off a flight to safety, sinking global equity markets and Treasury yields, while boosting the value of the dollar. The immediate consequences are the opposite of what the weak global economy... ...the U.K. only accounts for about 2.4% of global GDP... ...Brexit vote will provoke "a crisis of confidence... ...For now, though, uncertainty about the future of Europe and concern about the disruption of trade are likely to weigh on investment and growth. IHS Global Insight, which had been forecasting 1.5% GDP growth in Germany in 2017, now...
  • UN paints bleak picture of stagnating world economy

    05/13/2016 7:02:35 AM PDT · by BenLurkin · 20 replies
    .local10.com ^ | Edith M. Lederer
    The report blames a host of factors for this year's lackluster economic prospects including persistent weak demand in the major economies which remains a drag on global growth, the low price of oil and other commodities which are hurting exporting countries, severe weather-related shocks especially severe drought related to El Nino, political challenges, and large capital outflows in many developing regions. Dawn Holland, a senior economist in the U.N. Department of Economic and Social Affairs, said the 2.4 percent growth predicted for this year is 1 percent lower than the average annual rate of growth of 3.4 percent in the...
  • Has the BRICs bubble burst?

    03/28/2016 7:04:35 AM PDT · by Lorianne · 7 replies
    Guardian UK ^ | 27 March 2016 | Simon Tisdall
    Brazil, Russia, India, China and South Africa seem to be failing to justify predictions of 21st century domination ___ The political crisis in Brazil over economic mismanagement and high-level corruption, likely to come to a head next week, has reinforced the fashionable view, popular among western governments and businesses, that the Brics bubble has burst. Members of the exclusive Brics club of leading developing countries – Brazil, Russia, India, China and South Africa – are failing to justify predictions that, separately and together, they will dominate the 21st century world, or so the argument goes. The Brics concept, plus acronym,...
  • Bond Guru Says Trump Nomination Could Bring Down World Economy

    03/22/2016 12:51:57 PM PDT · by Innovative · 71 replies
    Fortune ^ | March 21, 2016 | Reuters
    Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, foresees a “global growth scare” between now and the end of the summer, triggered by a presidential nomination of Donald Trump. “That is where I see the vulnerabilities,” Gundlach said in a telephone interview on Monday. Trump’s protectionist policies could mean negative global growth, Gundlach warned. “As he gets the nomination, the markets and investors are going to worry about it more. You will see a downgrading of global growth based on geopolitical risks. You must factor this into your risk-management.”
  • IMF’s Lagarde Says Negative Rates Have Helped Global Economy

    03/20/2016 5:41:02 PM PDT · by Lorianne · 23 replies
    Hellinic Shipping ^ | 19 March 2016
    The world economy would be worse off without negative interest rates, according to International Monetary Fund Managing Director Christine Lagarde. Negative rates in Europe and Japan have helped support global growth and price gains, she said in an interview in Ho Chi Minh City on Friday. The finance sector may need to implement new business models as a result, she said. “If we had not had those negative rates, we would be in a much worse place today, with inflation probably lower than where it is, with growth probably lower than where we have it,” Lagarde said. “It was a...
  • Opinion: Chilling ways the global economy echoes 1930s Great Depression era

    02/19/2016 5:55:43 AM PST · by John W · 22 replies
    marketwatch.com ^ | February 19, 2016 | John Coumarianos
    One view of what caused the Great Depression in the 1930s is that the Federal Reserve failed to prevent a collapse in the money supply. This is the famous thesis of Milton Friedman's and Anna Schwartz's A Monetary History of the United States, 1867-1960, and it was, more or less, the view of Ben Bernanke when he was chairman of the Federal Reserve. The global economy today resembles that of the 1930s in several ominous ways. Financial author Edward Chancellor recently called attention to a paper written by Caludio Borio, head economist at the Bank of International Settlements, that provides...
  • 21 New Numbers That Show That The Global Economy Is Absolutely Imploding

    02/21/2016 11:36:51 AM PST · by SeekAndFind · 18 replies
    TEC ^ | 02/21 | Michael Snyder
    After a series of stunning declines through the month of January and the first half of February, global financial markets seem to have found a patch of relative stability at least for the moment. But that does not mean that the crisis is over. On the contrary, all of the hard economic numbers that are coming in from around the world tell us that the global economy is coming apart at the seams. This is especially true when you look at global trade numbers. The amount of stuff that is being bought, sold and shipped around the planet is falling...
  • Canadians Panic As Food Prices Soar On Collapsing Currency

    01/13/2016 4:11:35 PM PST · by Kartographer · 148 replies
    Zerohedge ^ | 1/13/16 | Tyler Durden
    The currency's decline is having a pronounced effect on Canadians' grocery bills. As Bloomberg reminds us, Canada imports around 80% of its fresh fruits and vegetables. When the loonie slides, prices for those good soar. "With lower-income households tending to spend a larger portion of income on food, this side effect of a soft currency brings them the most acute stress," Bloomberg continues. Of course with the layoffs piling up, you can expect more households to fall into the "lower-income" category where they will have to struggle to afford things like $3 cucumbers, $8 cauliflower, and $15 Frosted Flakes. Have...
  • The Baltic Dry Shipping Index Just Collapsed To An All-Time Record Low [Ominous for Global Trade]

    11/20/2015 9:07:55 AM PST · by SeekAndFind · 20 replies
    TEC ^ | 11/20/2015 | Michael Snyder
    I was absolutely stunned to learn that the Baltic Dry Shipping Index had plummeted to a new all-time record low of 504 at one point on Thursday. I have written a number of articles lately about the dramatic slowdown in global trade, but I didn’t realize that things had gotten quite this bad already. Not even during the darkest moments of the last financial crisis did the Baltic Dry Shipping Index drop this low. Something doesn’t seem to be adding up, because the mainstream media keeps telling us that the global economy is doing just fine. In fact, the Federal...
  • Global Trade In Freefall:

    11/04/2015 2:11:03 PM PST · by amorphous · 38 replies
    Zero Hedge ^ | 4 Oct 201 | Tyler
    Over the past year we have regularly contended that a far greater threat to the global economy than either corporate earnings, currency devaluations, rate cuts (or hikes), reserve outflow, or even the stock market, is the sudden, global trade crunch which has been deteriorating rapidly since late 2014 and has seen an even more dramatic drop off as 2015 is winding down. Actually, that is incorrect: global trade is merely a manifestation of the true state of the above listed items. ... We have in the past joked that the only thing that could possibly save the world from what...
  • Global Trade Is Collapsing As The Worldwide Economic Recession Deepens

    10/20/2015 11:08:42 AM PDT · by Perseverando · 10 replies
    The Economic Collapse ^ | October 19, 2015 | Michael Snyder
    When the global economy is doing well, the amount of stuff that is imported and exported around the world goes up, and when the global economy is in recession, the amount of stuff that is imported and exported around the world goes down. It is just basic economics. Governments around the world have become very adept at manipulating other measures of economic activity such as GDP, but the trade numbers are more difficult to fudge. Today, China accounts for more global trade than anyone else on the entire planet, and we have just learned that Chinese exports and Chinese imports...
  • HSBC fears world recession with no lifeboats left

    05/26/2015 6:06:34 PM PDT · by 9thLife · 42 replies
    Telegraph ^ | 5:00PM BST 24 May 2015 | Ambrose Evans-Pritchard
    The world economy is disturbingly close to stall speed. The United Nations has cut its global growth forecast for this year to 2.8pc, the latest of the multinational bodies to retreat. It leaves a thin safety buffer against any economic shock - most potently if China abandons its crawling dollar peg and resorts to 'beggar-thy-neighbour' policies, transmitting a further deflationary shock across the global economy. ... Each of the past four US recoveries has been weaker than the last one. The average growth rate has fallen from 4.5pc in the early 1980s to nearer 2pc this time. ... The US...
  • The noise from Brazil? An economy on the brink

    03/08/2015 11:38:31 AM PDT · by Lorianne · 3 replies
    Guardian UK ^ | 06 March 2015 | Alberto Nardelli
    Rising inflation, slowing growth, a weakening currency, surging debt and a deepening corruption scandal - Brazil is suddenly looking vulnerable ___ The more you look at Brazil’s fundamentals, the more shaky the country looks. And we are not talking about the defensive prowess of David Luiz here. It is the country’s economic backline that risks tumbling down like a set of dominoes. When a Latin American economy is in trouble a good place to start is its inflation rate. Brazil’s is today running at 7.5%. While this is nowhere near the 2,000-3,000% of the early 1990s, when the price of...
  • The stage is being set for a massive financial meltdown...

    02/24/2015 9:21:38 AM PST · by alexmark1917 · 43 replies
    Greek 4 month extension does nothing for the people of Greece. Sub-prime auto loans all time high and delinquencies are rising. Existing home sales implode while home price fall. Baltic Dry Index falls and ship builders are filing for bankruptcy. US blimp in Maryland used to watch the people. Ukraine bans Russian media and sets up their own propaganda media. Poroshenko wants Crimea back as they pull more weapons to the front line. US and the coalition forces getting ready for a major offensive in the middle east. DHS budget in trouble, using fear and a false flag event to...
  • Federal Reserve Insider Alan Greenspan Warns:There Will Be a “Significant Market EventSomething Big

    With the Federal Reserve printing trillions upon trillions of dollars to keep the economic system afloat, many investors and financial pundits have surmised that the fundamental economic problems facing the United States during the crash of 2008 have been resolved. Stocks are, after all, at historic highs. But the insiders know different. And if there’s any single person out there who understands U.S. monetary policy and its long-term effects on domestic and global affairs it’s former Federal Reserve chairman Alan Greenspan. As the head of the world’s most powerful central bank for nearly two decades he’s privy to the insider...
  • Currency warriors get a boost at G-20 meeting

    02/11/2015 8:01:41 AM PST · by Rusty0604 · 7 replies
    Market Watch ^ | 02/11/2015 | Ian
    ISTANBUL--The world's top finance leaders on Tuesday in effect backed currency depreciation as a tool for promoting growth by signaling strong support for aggressive easy-money policies aimed at boosting the fragile global economy. The support by finance ministers and central bankers from the Group of 20 largest economies for mass monetary easing--policies that have weakened exchange rates from Europe to Japan--is at odds with the traditional view that currency depreciation could have damaging effects on other economies. It also reflects worry that economies in much of the world could get stuck in a low-growth rut without decisive cash injections from...
  • The climate Comintern speaks - "intentionally transform the economic development model"

    02/10/2015 4:42:44 AM PST · by Cincinatus' Wife · 11 replies
    The Hill ^ | February 10, 2015 | Benjamin Zycher, John G. Searle scholar at the American Enterprise Institute
    "This is probably the most difficult task we have ever given ourselves, which is to intentionally transform the economic development model, for the first time in human history. This is the first time in the history of mankind that we are setting ourselves the task of intentionally, within a defined period of time, to change the economic development model that has been reigning for the, at least, 150 years, since the industrial revolution." Those were the words spoken on Feb. 4 by Christiana Figueres, the executive secretary of the United Nations Framework Convention on Climate Change (UNFCCC), under the auspices...
  • U.N. Climate Chief: We're 'Intentionally' Transforming The World Economy

    02/07/2015 9:24:59 AM PST · by BlatherNaut · 58 replies
    Truth Revolt ^ | 2/6/15 | Bradford Thomas
    The United Nation’s top climate change official Christiana Figueres announced this week that the group is actively working to "intentionally transform" the world's economic development model, a task she called the "most difficult" one the group has ever undertaken. "This is probably the most difficult task we have ever given ourselves, which is to intentionally transform the economic development model, for the first time in human history," UNFCCC Executive Secretary Figueres stated at a press conference in Brussels Tuesday. The "intentional" reordering of the global economy, she told reporters, "will not happen overnight" due to the "depth of the transformation":...
  • Global downsides: 1 high debt; 2 Lack of growth and deflation; 3 Fragile EM...

    01/28/2015 3:11:59 PM PST · by alexmark1917 · 1 replies
    Rajan: "Today, debt is making it difficult for developed countries to resume pre-2008 growth rates" http://t.co/hi4QoAqSA8 — Project Syndicate (@ProSyn) January 18, 2015 Today, debt is making it difficult for developed countries to resume pre-2008 growth rates, let alone restore the levels of GDP that would have been attained if the subsequent Great Recession had not happened. Meanwhile, industrial countries’ overall debt/GDP ratios are continuing to grow. In emerging markets, slow growth in the advanced economies has shut down a traditional development path: export-led growth. As a result, emerging markets have had to rely once again on domestic demand. This...
  • Global economy hopes raised after European stimulus

    01/24/2015 10:50:50 PM PST · by Tolerance Sucks Rocks · 18 replies
    12 News ^ | January 25, 2015 | Pan Pylas
    DAVOS, Switzerland (AP) - The global economic outlook just got brighter after this week's big stimulus from the European Central Bank, leading policymakers from around the world said Saturday. In a panel at the World Economic Forum in Davos, they said a perkier Europe, coupled with a prolonged period of low oil prices, could help shore up the global economy following a period of underperformance that has prompted many forecasters to reduce their growth forecasts. "Lower oil prices and the big decision by ECB could further improve world economic outlook," said Haruhiko Kuroda, governor of the Bank of Japan.
  • Central bank prophet fears QE warfare pushing world financial system out of control

    01/21/2015 4:46:57 PM PST · by 9thLife · 7 replies
    The Telegraph ^ | 6:48PM GMT 20 Jan 2015 | By Ambrose Evans-Pritchard, in Davos
    The economic prophet who foresaw the Lehman crisis with uncanny accuracy is even more worried about the world's financial system going into 2015. Beggar-thy-neighbour devaluations are spreading to every region. All the major central banks are stoking asset bubbles deliberately to put off the day of reckoning. This time emerging markets have been drawn into the quagmire as well... "We are in a world that is dangerously unanchored," said William White, the Swiss-based chairman of the OECD's Review Committee. "We're seeing true currency wars and everybody is doing it, and I have no idea where this is going to end."...
  • Iran sees no OPEC shift toward a cut, says oil industry could withstand $25 crude

    01/19/2015 8:59:42 AM PST · by SleeperCatcher · 11 replies
    Reuters ^ | 01/19/2015 | Michelle Moghtader
    Iran sees no sign of a shift within OPEC toward action to support oil prices, its oil minister said, adding its oil industry could ride out a further price slump to $25 a barrel. The comments are a further sign that despite lobbying by Iran and Venezuela, there is little chance of collective action by the 12-member OPEC to prop up prices - entrenching the reluctance of individual members to curb their own supplies.
  • World economy warning light on red

    11/18/2014 4:09:53 AM PST · by John W · 10 replies
    Associated Press via Fort Wayne Journal Gazette ^ | November 18, 2014 | Danica Kirka
    LONDON – The global economy's problems seem to be multiplying. Hours after the leaders of the world's 20 most developed economies sought to boost confidence by promising to increase global output by $2 trillion over five years, Japan said it had fallen into recession. That leaves the country – the world's third-largest economy – on a long and growing list of troubled economies. China is slowing as well, and Europe can't seem to take off. Among major economies, only the United States and Britain are growing at decent rates, and how long that lasts depends on how much trouble their...
  • Newsbytes: World food production at record levels

    10/23/2014 10:05:11 PM PDT · by Ernest_at_the_Beach · 7 replies
    wattsupwiththat.com ^ | October 23, 2014 | Anthony Watts
    Despite all the gloom and doom from people like Paul Ehrlich and the warmers who say global warming will stunt food production, the reality is far different. It seems the increase in CO2 along with adaptive crop genetics may have combined to produce this bonanza. Based on the latest forecasts for production and utilization, world cereal stocks at the close of crop seasons ending in 2015 would surge to 627.5 million tonnes, up 8.3 percent from an already large volume at the start of the season and its highest level in 15 years. Maize would account for the biggest increase,...
  • Early Warning of Global Slowdown

    10/15/2014 10:01:39 PM PDT · by Citizen Zed · 3 replies
    In July 2014, ECRI’s International Cyclical Outlook reported “signs of spreading weakness in overall economic growth.” The early warning was based on our Long Leading Index of Global Growth (LLIGG), which was already “hovering near its worst levels since 2011” (top line). The LLIGG subsumes ECRI’s individual long leading indexes for 20 economies that are designed to be mutually comparable across countries, making it appropriate to combine them into a global index. At the time, we observed that, with our analogous Coincident Index of Global Growth (CIGG) “having rolled over” (bottom line) and the LLIGG “in a cyclical downturn, reports...
  • The Global Map, 2017

    09/10/2014 11:01:48 AM PDT · by Kaslin · 8 replies
    Townhall.com ^ | September 10, 2014 | Ben Shapiro
    Barack Obama pledged to radically transform America when he took office. He didn't stop at America. President Obama's greatest legacy may be the radical reshaping of the global map. Fast forward three years. Here's where we stand. Given Europe's failure to stand up to Russian aggression in Crimea, Russia's borders have expanded to include Eastern Ukraine, northern Kazakhstan and larger portions of Moldova. As of 2014, Russia had consolidated its hold on Transnistria, the Eastern region of Moldova, which is heavily Russian; Russia had annexed Crimea; Russia had placed troops inside Eastern Ukraine. But it didn't stop there. Russia began...
  • New Dire Warnings on Russia: The Move That Could Lead to ‘Catastrophe’

    03/15/2014 2:48:36 PM PDT · by elhombrelibre · 21 replies
    The Blaze ^ | 14 Mar 14 | Sara Carter
    Russia’s increased military buildup along Ukraine’s eastern border signals the possibility of a full-scale invasion and one that could lead to a worst-case global scenario, pitting NATO allies against old Russian foes and debilitating the global economy to nothing short of catastrophe if nothing is done to stop Moscow’s aggression, U.S. officials and analysts told TheBlaze. And the crisis seems to be heading in that direction. On Friday, more Russian troops and armored vehicles were seen offloading from ships in the Crimean harbor, reporters in the area said. The day before, Russia had already massed more than 8,000 troops and...
  • 20 Signs That The Global Economic Crisis Is Starting To Catch Fire

    02/14/2014 7:46:25 PM PST · by Tolerance Sucks Rocks · 49 replies
    Freedom Outpost ^ | February 14, 2014 | Michael Snyder
    If you have been waiting for the "global economic crisis" to begin, just open up your eyes and look around. I know that most Americans tend to ignore what happens in the rest of the world because they consider it to be "irrelevant" to their daily lives, but the truth is that the massive economic problems that are currently sweeping across Europe, Asia and South America are going to be affecting all of us here in the U.S. very soon. Sadly, most of the big news organizations in this country seem to be more concerned about the fate of Justin...
  • A Single Picture to Show that Many Nations Are Economically Doomed

    02/10/2014 5:58:50 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | February 10, 2014 | Daniel J. Mitchell
    Over the years, I’ve shared many charts, graphs, and tables to help people understand that the welfare state is fundamentally unsustainable. And, assuming there’s not genuine entitlement reform, many of these fiscal estimates show that the United States has a very perilous future. According to the Bank for International Settlements, the United States is in worse shape than every nation other than Japan and the United Kingdom. According to the Organization for Economic Cooperation and Development, the United States has a bigger long-run fiscal problem than all countries other than New Zealand and Japan. And according to International Monetary Fund...
  • Weekly COMEX Gold Inventories: Huge Gold Withdrawal From JPMorgan Warehouse Headed East

    01/26/2014 4:22:12 PM PST · by Red in Blue PA · 46 replies
    Last week, as many of gold investors may already know, we saw the largest one-day withdrawal in over a year as the JPMorgan (JPM) warehouse withdrew a stunning 321,500 ounces of gold (10 tonnes). Additionally, we also saw a large withdrawal from the Scotia Mocatta warehouse, which brings the total withdrawal for the week to almost 5% of all COMEX gold stocks. .... As investors can see, last week's action finally saw a rise in registered gold by a small 5,002 ounces. But that was paired with a huge 350,968 ounce withdrawal from eligible gold stocks - the vast majority...
  • 'Fatal spiral' of fiscal crises threatens global economy in 2014

    01/17/2014 6:29:07 PM PST · by Lorianne · 9 replies
    Telegraph UK ^ | 16 January 2014 | Szu Ping Chan
    Ballooning debt levels in advanced economies pose biggest threat to the global economy, World Economic Forum report warns ___ pose the biggest threat to the global economy in 2014, a report by the World Economic Forum has warned. Ahead of next week's WEF annual meeting in Davos, Switzerland, the forum's annual assessment of global dangers said high levels of debt in advanced economies, including Japan and America, could lead to an investor backlash. This would create a "vicious cycle" of ballooning interest payments, rising debt piles and investor doubt that would force interest rates up further.
  • Dismal U.S. Consumer Spending to Drag Us Back into Recession?

    06/29/2013 10:29:46 AM PDT · by abbyjoseph · 24 replies
    Profit Confidential ^ | 28/06/2013 | Michael Lombardi
    While the mainstream economists were quick to believe that the U.S. economy is growing as the key stock indices suggest, I stood by my opinion that it isn’t. After the first estimates of gross domestic product (GDP) for the U.S. economy came out, a wave of optimism struck and stock markets rallied. It seemed as if everything was headed in the right direction. Sadly, they were wrong. In its third and final revision of GDP, the Bureau of Economic Analysis (BEA) reported that the U.S. economy grew at just 1.8% in the first quarter of 2013 from the fourth quarter...
  • A Mirage Called the Stock Market

    06/06/2013 9:07:33 AM PDT · by abbyjoseph · 9 replies
    Profit Confidential ^ | 3rd june | Michael Lombardi
    While an economic slowdown is looming over the global economy, no one seems to care, as stock markets continue to reach new record-highs—giving investors false hopes of economic growth. But how long can this mirage actually last? The economic slowdown in the global economy I’m talking about is a worldwide pullback in growth. Take India as the first example. According to India’s Central Statistics Office, the Indian economy is growing at five percent—its slowest pace in a decade! The director general of the Confederation of Indian Industry was quoted late last week as saying, “With no visible pick-up in any...
  • "I Give A Damn": A Capitalist Manifesto For The Productive Class

    05/28/2013 12:58:02 PM PDT · by SatinDoll · 4 replies
    Of Two Minds.com ^ | May 27, 2013 | Zeus Yiamouyiannis
    This essay is a call to citizens to put real work, ingenuity, and community above false promises and disgraced authority. Empowerment, in this essay, is not about pumping up self-esteem but rather equipping citizens to take control of the global economy. When political and economic leaders fail to act effectively, we will have to be the ones to succeed. Capitalism stands and falls upon care, not the superficial “I-feel-your-pain” type, but the deep, committed “I-give-a-damn” type. What does it mean to give a damn? “I give a damn” means: I get broadly and deeply involved, I refuse to ignore what...
  • 'The world is in a state of financial war' - Russian presidential advisor

    05/28/2013 4:55:07 AM PDT · by Yekaterina Derevko · 12 replies
    Voice of Russia ^ | 18 Jan 2013 | Editors
    Vedomosti reports that Sergey Glaziev, the economic mastermind behind the Eurasian Union, sent an official report to Kremlin, stating the necessity of a radical revamp of Russia’s economic policy in the wake of the second wave of global economic crisis. “Unknown sources” have provided the media with the contents of this highly controversial document, igniting a fierce debate in the press and blogosphere. Glaziev’s report features apocalyptic predictions in regard to the state of the world economy but the most interesting part of the text refers to the so-called “currency wars”. Basically, one of the most influential advisors of the...
  • Wealth, Lower Oil Prices, Increased Spending—Airline Stocks Headed Higher

    05/20/2013 9:07:07 AM PDT · by abbyjoseph
    Profit Confidential ^ | 17/05/2013 | George Leong, B.Comm
    Last August, a Vermont farmer named Roger Pion was arrested with a small amount of marijuana on his person. At the station, the cops allegedly roughed him up. Not a scholar of passive resistance, Pion returned to the jail after his release driving a 20,000-lb. Case tractor. He then crushed six Orleans County cop cars and a police van. Now, months later, all the cars have been replaced. Roger Pion was arrested again, then placed in a mental health facility. But his legacy lives on, in the hearts (and jammies) of freedom fighters across the land.
  • The day gold died--Commentary: Gold is history and history showed the run would end

    04/16/2013 9:37:05 AM PDT · by Ernest_at_the_Beach · 39 replies
    Marketwatch ^ | April 16, 2013, 7:01 a.m. EDT | By David Weidner, MarketWatch
    Monday’s crash in the gold market has been a long time coming. Buying opportunity? Only if you enjoy pain. And a few of you do. I know it. I could hear the howling from the mercantile exchanges. I don’t want to write I told you so, but I did. Many of us warned against the modern gold rush. But we weren’t looking at a crystal ball, it was history talking.
  • Foreign holdings of US debt rose to $5.66 trillion

    04/15/2013 11:22:50 AM PDT · by Ernest_at_the_Beach · 2 replies
    AP ^ | Apr 15, 9:33 AM EDT | By MARTIN CRUTSINGER AP Economics Writer
    WASHINGTON (AP) -- Foreign demand for U.S. Treasury securities rose to a record level in February, indicating that international investors remain confident in U.S. debt despite budget wrangling in Washington.The Treasury Department said Monday that foreign holdings of U.S. Treasury securities increased 0.3 percent in February from January to a record $5.66 trillion. It was the 14th straight monthly increase.
  • EU Collapsing? Will Cyprus and Japan spell doom for the world economy?

    03/23/2013 4:01:55 PM PDT · by Starman417 · 22 replies
    Flopping Aces ^ | 03-23-13 | Curt
    Apparently it takes a former Federal Reserve senior economist to ground everyone in reality. The European Union is no more and disintegrating rapidly: "The European project is crashing to earth,” Athanasios Orphanides told the Financial Times in an interview. "This is a fundamental change in the dynamics of Europe towards disintegration and I don’t see how this can be reversed.” ...This week’s events had made “a mockery” of EU treaties, he added. “It suggests that in Europe not all people are equal under the law.”“We have seen other eurozone countries, the Netherlands, for instance, put national interests ahead of the...
  • Everything you need to know about banking, bailouts, and Cyprus

    03/18/2013 4:34:29 PM PDT · by Ernest_at_the_Beach · 15 replies
    blogs.marketwatch.com/cody ^ | March 18, 2013, 2:04 PM | Commentary By Cody Willard
    Good morning and welcome back to the land of anarchy where contracts and guarantees don’t mean anything anymore. Over the weekend, as I’m sure you’ve already heard, Cyprus and the EU and the IMF (and the U.S. Treasury which is part of the official decision-making body at the IMF) all decided that it was in society’s best interests to confiscate the money in people’s checking and savings accounts. Not all of it, at least not yet.But as there’s a ton of confusion and misdirection about what this latest round of theft of private capital and descent into anarchy really is,...
  • Cyprus: banks shut till Thursday as government scrambles to amend savings levy - live

    03/18/2013 9:11:59 AM PDT · by E. Pluribus Unum · 22 replies
    The Guardian ^ | 18 March 2013 | Graeme Wearden
    Photos: protests in Nicosia • Crucial parliamentary vote delayed until Tuesday • Reports of a rethink on bank savings levy • Vladimir Putin: savings levy is unfair and dangerous • Midday: Markets claw back some losses
  • Hormel buying No. 2 peanut butter Skippy for $700 million

    01/03/2013 6:39:13 AM PST · by Olog-hai · 33 replies
    Associated Press ^ | Jan 3, 2013 8:55 AM EST
    Hormel Foods apparently has a hankering for a peanut butter and bacon sandwich. The company primarily known for cured, smoked and deli meats said Thursday that it’s buying Skippy, the country’s No. 2 peanut butter brand, for about $700 million. Skippy, which was introduced in 1932 and is a staple in American pantries, is intended to increase Hormel’s presence in the center of the supermarket where shelf-stable foods are sold. It also gives the Austin, Minn.-based company a clearer path for growth overseas; Skippy is sold in about 30 countries and is the leading peanut butter brand in China, where...
  • Arctic Route Paves New Way for Gas Trade

    12/06/2012 11:55:32 AM PST · by Ernest_at_the_Beach · 6 replies
    wsj.com/video ^ | 12/3/2012 2:45am | Ken Brown
    A Norwegian tanker full of natural gas is scheduled to deliver to Japan after traveling through the Arctic Ocean. The WSJ's Ken Brown explains how this route will change the way people sell gas. Up Next Satellite Reveals New Views of Earth at Night
  • Gold Just Tanked, Silver Tanked, And Oil Is Sliding

    11/28/2012 6:39:45 AM PST · by blam · 150 replies
    TBI ^ | 11-28-2012 | Joe Weisenthal
    UPDATE: Gold Just Tanked, Silver Tanked, And Oil Is Sliding Joe WeisenthalNovember 28, 2012 It's unclear what just happened, but as US trading cranks to life, commodities have dumped. Gold just dropped about $15/oz in a couple of seconds. Kitco And here's Silver: And oil is fading.
  • Who Really Cares About the Poor?

    10/13/2012 3:40:50 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | October 15, 2012 | John C. Goodman
    Capitalism favors the rich. Socialism helps the poor. These are core beliefs of almost everybody on the left, including our president. Ah, but it turns out that this worldview is completely wrong. Economists associated with the Fraser Institute and the Cato Institute have actually found a way to measure "economic freedom" and investigate what difference it makes in 141 countries around the world. This work has been in progress for several decades now and the evidence is stark. Economies that rely on private property, free markets and free trade, and avoid high taxes, regulation and inflation, grow more rapidly than...
  • Daniel Hannan: Spain teeters on the brink

    09/28/2012 4:56:32 AM PDT · by Cincinatus' Wife · 11 replies
    Telegraph - UK ^ | September 27, 2012 | Daniel Hannan
    All of a sudden, the talk is of the breakdown, not just of the single currency, but of the parliamentary system on which it rests. Commentators across Europe fret that Spain, which emerged from dictatorship less than 40 years ago, might give up on multi-party politics. Every round of economic figures is worse than the last. The deficit is massively larger than forecast. A bailout of unprecedented size is becoming inevitable, even as the prime minister gives his countrymen a ‘one hundred per cent assurance’ that he won’t apply for one. (He said much the same thing a few days...
  • Romney's Speech at the Global Initiative Conference

    09/25/2012 6:49:22 AM PDT · by w4women · 36 replies
    micsak | September 25, 2012 | micsak
    I just watched Romney's speech at the Global Initiative Conference and I was blown away. Foreign aid should be tied to getting people employment. All free enterprise - all the time. It was impressive. He even got a few digs in about Obama. It is a must see.
  • Dollar no longer primary oil currency as China begins to sell oil using Yuan

    09/17/2012 9:08:09 AM PDT · by TLI · 25 replies
    Examiner.com ^ | September 12, 2012 | Kenneth Schortgen Jr
    On Sept. 11, Pastor Lindsey Williams, former minister to the global oil companies during the building of the Alaskan pipeline, announced the most significant event to affect the U.S. dollar since its inception as a currency. For the first time since the 1970's, when Henry Kissenger forged a trade agreement with the Royal house of Saud to sell oil using only U.S. dollars, China announced its intention to bypass the dollar for global oil customers and began selling the commodity using their own currency.
  • U.S. Firms Move Abroad to Cut Taxes

    08/29/2012 11:44:36 AM PDT · by SeekAndFind · 14 replies
    Wall Street Journal ^ | 08/29/2012 | JOHN D. MCKINNON And SCOTT THURM
    More big U.S. companies are reincorporating abroad despite a 2004 federal law that sought to curb the practice. One big reason: Taxes. Companies cite various reasons for moving, including expanding their operations and their geographic reach. But tax bills remain a primary concern. A few cite worries that U.S. taxes will rise in the future, especially if Washington revamps the tax code next year to shrink the federal budget deficit. "We want to be closer to where our clients are," says David Prosperi, a spokesman for risk manager Aon AON +0.03% plc, which relocated to the U.K. in April. Aon...