Lew Rockwell points to a column appearing in the Christian Science Monitor that says: Are some Ron Paul supporters going rogue and confronting the Republican Party in a manner of which Mr. Paul himself would not approve? That question arises due to what went down on the evening of May 15 at a meeting of the [...]
Thursday, 17 May 2012 09:23
After days and weeks and months of pounding, gold reacted like a stung dog, soaring over $20 upon the realization that following the Philly Fed confirmation that the “recovery” is now officially dead that, gasp, the Fed really has no other choice than to CTRL+P.
Thursday, 17 May 2012 09:12
Remember the surge in the Empire Fed which was the straw so desperately clutched by all those who still held on to hope the US economy was still kinda sorta growing? Oops. The May Philly Fed just came out and was a disaster, printing at -5.8, down from 8. (Read more…)5 and crashing expectations for [...]
Thursday, 17 May 2012 09:05
We have seen three very loud and very clear messages this week on the state of the US consumer’s mind. After a few months of extravagance, on the back of what can only be described as depression-fatigue, reality is biting once again. The Bloomberg Consumer Comfort index just missed expectations by its greatest amount in [...]
Thursday, 17 May 2012 08:43
Planetary Resources was founded by private spaceflight pioneers Peter Diamandis and Eric Anderson. Its investors include Google execs Larry Page and Eric Schmidt, who are worth $16.7 billion and $6.2 billion, respectively. Filmmaker and adventurer James Cameron, former NASA astronaut Tom Jones and MIT planetary scientist Sara Seager are advisers. (Read more…) Less than three [...]
Thursday, 17 May 2012 08:32
Move over, Facebook. Pinterest, the social site that lets people “pin” pictures and content to create collections of interest, has become the latest company to be valued at more than $1bn (£630m), following a $100m round of funding. While estimates of the effective valuation implied by the investment vary between $1bn and $1.5bn, they highlight [...]
Thursday, 17 May 2012 08:29
One for the “You can’t make this stuff up” folder. From Art Cashin: Ya Can’t Make This Stuff Up – An interesting example of the problems in Greece may be seen in one of its recent attempts to collect taxes. (Read more…) Property taxes were notoriously unpaid. The government decided to combine those taxes [...]
Thursday, 17 May 2012 08:17
What comes after Banana Republic? Because America is it – after last week Facebook co-founder, and native Brazilian, Eduardo Saverin announced he would denounce his US citizenship, America has decided to make it virtually illegal to denounce one’s citizenship in what can only be classified as the dumbest proposed law in recent history: meet the Ex-PATRIOT [...]
Thursday, 17 May 2012 08:01
Via Mark J. Grant, Author of Out of the Box, Tragedy (Ancient Greek:, tragoidia, “the-goat-song”) is a form of drama based on human suffering that invokes in its audience an accompanying catharsis or pleasure in the viewing. While many cultures have developed forms that provoke this paradoxical response, tragedy often refers to a specific tradition [...]
Thursday, 17 May 2012 07:58
From Reuters: In 2008, Catalist helped the left win the technology battle. The database allowed unions and the Obama campaign to manage volunteers without stepping on each other’s toes. Meanwhile, analysts could look for patterns in oceans of data that had been held in small pools by separate groups. Now, Charles and David Koch, who [...]
Thursday, 17 May 2012 07:07
A Japanese bank has halted transactions by the Iranian government after a US court ordered a $2.6 billion asset freeze over the 1983 bombing of US barracks in Beirut, a bank spokesman said on Thursday. “We have received the order from the US court,” to freeze $2.6 billion of assets, a spokesman for the Bank [...]
Thursday, 17 May 2012 07:05
This is coming from, of all people, gold-hater Nouriel Roubini in a tweet: Reports a Japanese pension fund is buying gold to escape sov risk go against trend of USD beating gold as a safe haven.
Thursday, 17 May 2012 07:00
Photo: Ggia (CC) After austerity follows fascism. Neni Panourgia writes on Al Jazeera English: By now, nearly everybody has been exposed to the phenomenon of Golden Dawn (Chrysi Avgi in Greek), the neo-Nazi organisation that received almost 7 per cent of the vote in the Greek elections of May 6.After the initial shock, the question [...]
Thursday, 17 May 2012 06:49
As ZH warned last week, JPMorgan’s Trading Loss Is Said to Rise at Least 50% (NYT) Spanish recession bites, may be prolonged (Reuters) SEC Probes Role of Hedge Fund in CDOs (WSJ) Obama Lunch With Boehner Ends With Standoff Over Budget (Bloomberg) (Read more…) Hilsenrath: Fed Minutes Reflect Wariness About Recovery’s Strength (WSJ) N. Korea [...]
Thursday, 17 May 2012 06:42
Spain’s Queen Sofia has cancelled a trip to London on Friday to attend Queen Elizabeth II’s Diamond Jubilee celebration lunch due to tensions with Britain over the disputed territory of Gibraltar. “The government considers it is hardly adequate that in the current circumstances, Queen Sofia take part in Queen Elizabeth’s jubilee,” a spokesman for the [...]
Thursday, 17 May 2012 06:39
Japan’s economy grew by a faster-than-expected 1.0 percent in the three months to March, official figures showed Thursday, as rising domestic demand and a boost in exports kept it on the recovery path. Economy Minister Motohisa Furukawa said the economy, hit hard by last year’s quake-tsunami disaster and a surging yen, was likely to see [...]
Thursday, 17 May 2012 06:33
Spain fell into recession in the first quarter of 2012 with a decline of 0.3 percent in gross domestic product (GDP), the same rate of contraction recorded late last year, official data showed on Thursday. Final figures released by the the National Statistics Institute (INE) confirmed preliminary data issued on April 30 and underscored the [...]
Thursday, 17 May 2012 06:29
Global children’s phenomenon The Wiggles announced the end of an era on Thursday, with three of the quartet to retire from performing and a woman to don the turtleneck for the first time. The four-man Australian singing and dancing outfit, famed for their colourful jumpers or “skivvies”, said three of their original number would step [...]
Thursday, 17 May 2012 06:24
The Yugoslav war crimes court on Thursday adjourned the trial of former Bosnian Serb army commander Ratko Mladic, just a day after it opened, because of “irregularities” by prosecutors. “The hearing is adjourned sine die,” presiding judge Alphons Orie said. “(The court) has decided to suspend the start of the presentation of the prosecution evidence.” [...]
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