Monthly Archives: May 2012
Charles Ferguson’s ‘Predator Nation: Corporate Criminals, Political Corruption, and the Hijacking of America’
“The economic disaster was driven, Ferguson writes, by a combination of “very low interest rates, pervasive dishonesty through the financial system, massive lending fraud, speculation, demand for high yield securities, and not insignificantly, a squeezed American consumer desperate to maintain living standards, and told by everyone – including George Bush and Alan Greenspan, the brokers and the banks, that home borrowing was the way to do it.”
Along the way, Ferguson debunks the right-wing meme that Freddie and Fannie Mae caused the bubble; he holds the pure private sector responsible, especially its least regulated shadow banking parts.”Comments »
A sad day for tuna lovers….i guess we knew this was coming. Perhaps all the cesium laden tuna should be shipped back to Japan for sampling, it could be served with the U.N. / IAEA approved vegetables and milk.
Makes you wonder what’s up with shrimp and other delectable fishes said to be safe from the Gulf.Comments »
Not a good day for the greens. Without subsidies, the green industry simply can’t continue in Europe.
Spanish renewable-energy companies that once got Europe’s biggest subsidies are deserting the nation after the government shut off aid, pushing project developers and equipment-makers to work abroad or perish.
Read the rest here.
“Barton Biggs, the storied hedge fund manager who runs Traxis Partners, recently had an interesting encounter recently over lunch with a Saudi businessman who explained to him the real motivations behind Saudi Arabia’s ramp up in oil production and why oil prices will likely continue to fall as a result for an extended period of time.
It’s all part of a plan hatched by the Saudi royal family, according to Biggs, who relays this conversation in a note just published by Itaú BBA. Biggs says he asked the man what his outlook for Saudi Arabia was in the medium and long term, and the man was particularly negative about this, even given the vast riches of Saudi Arabian oil wealth.”Comments »
The yen gained against its major peers as turmoil in the Spanish banking sector added to signsEurope’s debt crisis is spreading to the region’s larger economies, boosting demand for safer assets.
The yen reached a more than three-month high versus the greenback as Japan’s benchmark bond yield fell to the lowest level since 2003 amid losses in global shares. The euro slid for an eighth-straight day against the yen, the longest losing streak in almost two years, before data tomorrow forecast to show the jobless rate rose to a record and manufacturing contracted across the 17 nations that share the currency.
Food safety advocates finally won for the testing of many strains of E. coli. The meat industry has successfully convinced the last and current administration not to allow the testing, but seeing as how many have fallen ill or died the decision not to test would be stupid.
As for the safety of meat well there is still GMO, antibiotic issues, and proper food safety issues; so i’ll stick to local grass fed steer.Comments »