“China’s banking regulator told lenders to push developers for faster home sales, citing signs that credit quality is worsening, a person with knowledge of the matter said.
The China Banking Regulatory Commission told lenders they should also demand more collateral, or tell developers to sell projects or stakes, if the banks predict they’ll have difficulty repaying loans due within 12 months, the person said, asking not to be identified because the instructions aren’t public.”
Comments »“What to Do When Every Market Is Manipulated
Hint: cut the strings
If you don’t know who the sucker at the card table is, it’s you.~ old gambler’s saying
What do the following have in common?
LIBOR, Bernie Madoff, MF Global, Peregrine Financial, zero-percent interest rates, the Social Security and Medicare entitlement funds, many state and municipal pension funds, mark-to-model asset values, quote stuffing and high frequency trading (HFT), and debt-based money?
The answer is that every single thing in that list is an example of market rigging, fraud, or both.”
Comments »[youtube:http://www.youtube.com/watch?v=L_RU5wO8Fjw 450 300]
Comments »“Americans don’t pay enough in taxes and need to pay more for the good of the country’s fiscal health, said Jared Bernstein, former chief economic adviser to Vice President Joe Biden, and a senior fellow at the Center for Budget and Policy Priorities.
Congressional Budget Office data show that U.S. households pay less taxes now than they did 30 years ago.
In 1979, the typical household paid 19 percent of their income in federal taxes, down from 11 percent today, Bernstein wrote in a Financial Times opinion piece.”
Comments »“The world could face a new food crisis of the kind seen in 2007-2008 if countries resort to export bans, the U.N.’s food agency warned on Thursday, after reporting a surge in global food prices due to a drought-fueled grain price rally.
A mix of high oil prices, growing use of biofuels, bad weather, restrictive export policies and soaring grain futures markets pushed up prices of food in 2007/08, sparking violent protests in countries including Egypt, Cameroon and Haiti.
Concern about extreme hot and dry weather in the U.S. Midwest sent corn and soybean prices to record highs last month, driving overall food prices higher again and reversing the Food and Agriculture Organization’s expectations for steady declines this year.”
Comments »A) Because greedy criminals rule the world
B) The sheeple are of inferior genes
C) Your an ASSHAT
Comments »New York, August 07, 2012 — Historical evidence shows that the risk of re-default tends to remain high after sovereign distressed exchanges, Moody’s Investors Service says in a new report that analyzes the modern history of sovereign bond defaults and the haircuts imposed on investors.
The new report, entitled “Sovereign Defaults Series: Investor Losses in Modern-Era Sovereign Bond Restructurings,” is available on www.moodys.com. Moody’s subscribers can access this report via the link provided at the end of this press release.
“Thirty-seven percent of the 30 sovereign debt exchanges since 1997 were followed by further default events,” explains Elena Duggar, Moody’s Group Credit Officer for Sovereign Risk and author of the report. “These high rates of re-default after a distressed exchange in the sovereign sector are similar to the experience in the global corporate sector and explain why ratings often remain low, in the Caa-C rating range, following distressed exchanges.”
Since 1997, there have been 30 distressed exchanges on sovereign bonds, by 22 sovereign issuers. Moody’s new report pinpoints four key findings:
Read here:
Comments »A white paper has been released by David Korowicz, a physicist and human-systems ecologist on the risks to the global economy.
Comments »See how the game is being played and why it may be a serious problem for investors.
Comments »Jeremy Grantham has some scary thoughts about the world at large and how food shortages could be a wrench in the engine of the global economy. The article certainly makes you think about where to place those long term investments.
Comments »$FB has done nothing but disappoint from it IPO debut. After hitting a fresh 52 week low yesterday we have to ask how will $FB turn it all around ?
Comments »via sfgate.com
Comments »There may be more than 83 million fake users on Facebook, the giant social network has revealed.
In company filings published this week, it said 8.7% of its 955 million active users might not be real,according to the BBC.com.
Duplicate accounts, people who have an account in addition to a principal account, make up 4.8 percent of the “fake” accounts, as of June 30, 2012.
There are also “user-misclassified accounts” (2.4 percent) — pet accounts or a personal profile for business — and “undesirable accounts” (1.5 percent) that are intended for spamming, etc.
Fake users are a huge concern to Facebook because it generates a majority of its revenue from advertising. BBC.com says Facebook is coming under increased scrutiny over the worth of its advertising model which promotes the gathering of “likes” from users.
“ST. LOUIS (AP) — Nearly 220 counties in a dozen drought-stricken states were added Wednesday to the U.S. government’s list of natural disaster areas as the nation’s agriculture chief unveiled new help for frustrated, cash-strapped farmers and ranchers grappling with extreme dryness and heat.
The U.S. Department of Agriculture’s addition of the 218 counties means that more than half of all U.S. counties — 1,584 in 32 states — have been designated primary disaster areas this growing season, the vast majority of them mired in a drought that’s considered the worst in decades.”
Comments »“* Third California city to file for bankruptcy
* Follows Stockton and Mammoth Lakes
* Fears other cities will file for bankruptcy”
Comments »Cheers on your weekend in the free world !
Click here to watch the documentary
Slavery is officially banned internationally by all countries, yet despite this there are more slaves in the world today than ever before. In the four hundred years of the legal slave trade around 13 million people were shipped from Africa. Today there are an estimated 27 million slaves – people paid no money, locked away and controlled by violence. Multi-Award winning documentary makers Kate Blewett and Brian Woods – this terrible exploitation with their own eyes.
This film explores three separate industries where slaves are still to be found: the carpet industry in northern India, the cocoa industry in the Ivory Coast, and domestic slavery in Britain and the U.S. At present, approximately 4000-5000 children are missing from Northern Bihar, India. Amongst the missing is Huro, a boy who disappeared at six years old, and hasn’t been seen by his family in over five years. The cocoa industry of Cote d’Ivoire produces nearly half the world’s supply (over 100 million tons) grown on thousands of small plantations where young men are worked up to eighteen hours a day, unpaid, and beaten if they try to escape. Kate and Brian interview slaves still working in the plantations, as well as a group of young men who had been rescued just days before. Most people imagine that slavery is only found in the developing world, a long way from Western democratic capitals. Kate and Brian found slavery in both Washington and London. A woman named Dora in Washington and another named Reshma in London both tell stories of cruelty, long hours and no payment. Both wish, in their own courageous way, to bring to the public’s attention the wrong that has been done to them in order to prevent such abuses happening in the future.
Comments »(CNN) — Islamic radicals linked to al Qaeda have seized the northern half of Mali, one of Africa’s largest nations, and there are widespread concerns that the region could soon become a terrorist haven.
The militants have been able to capitalize on the instability of the country, which has seen a rebellion and a government coup within the past few months.
Now, about 500,000 Malians have fled their homes in fear of the violence and discrimination that come with the radicals’ strict interpretation of sharia law.
Read here:
Comments »Alternate Headline: We Had to Steal Your Money to Prevent the Crisis from Becoming a Collapse!
But even if they had known about such manipulation, pursuing immediate trials—or even reporting such abuse to Congress—could have collapsed the system at a time when banks’ creditworthiness was already under fire.
[youtube://http://www.youtube.com/watch?v=4x8wZsWxZ5M 450 300]
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