August 16, France and Germany decided against creating and selling Euro Bonds, and came up with another way to help raise money for EU governments; a stock market transaction tax.
French President Nicolas Sarkozy said Euro Bonds would come later, when the economic situation was more stable. Instead he, and German Chancellor Angela Merkel, are […] Continue Reading…
“We are in complete agreement in the Dutch cabinet that imposing automatic sanctions as much as possible against countries who do not stick to the rules is the only way to ensure the euro’s long-term success.”-Mark Rutte, Prime Minister of Netherlands
Officials in Netherlands, an economically stable member of the European Union, […] Continue Reading…
The U.S. Bureau of Economic Analysis says the GDP for the second quarter of 2011 was a stagnant 1.3%. But what some media outlets didn’t report was that the previous quarter was revised downward from 1.95% to 0.4%!
This kind of slight of hand has been going on for years now. It turns out that […] Continue Reading…
“Anonymous demands that this activity revolving around censorship cease and desist and we know you are already planning to do this again.”-warning to BART police from Anonymous
In retaliation for the Bay Area Rapid Transit police cutting off cell service, to prevent a mass protest, Anonymous hacked them and took personal data of at […] Continue Reading…
“This range leaves us at the lowest levels since the series began in 1959. While monthly volatility is likely to continue, no real recovery looks to be on the horizon.”-Jill Brown, Credit Suisse
August 16, the United States Census Bureau reports housing starts fell 1.5% in July, and permits to build new […] Continue Reading…
The European economy is still stagnating, a GDP (gross domestic product) of 0.2% for this past quarter. That’s a drop from 0.8% in the first quarter of 2011.
Mainstream media continues to call such numbers “growth”.
Europe reports their GDP as a quarterly average. The U.S. reports GDP as a yearly average.
Germany, the economic powerhouse of […] Continue Reading…
August 16, WalMart reporting their sales have dropped for the 9th straight quarter! And that’s with higher sales than the same time last year!
WalMart blames us shoppers! Just like most of Corporte America, WalMart says we shoppers aren’t doing our job spending money we don’t have!
To be fair, WalMart execs realize the bad economy […] Continue Reading…
Major Japanese companies are reporting a second quarter of declining profits. And that’s before taxes!
SMBC Nikko Securities has compiled the profit results of more than 1,200 companies. Overall profits are down by 12%. They also predict profits will continue to fall into next year, by at least 2%.
Business analysts in Japan blame the decline […] Continue Reading…
“If these operations do not stop, there will be nothing left to say about the steps that would be taken. This is our final word to the Syrian authorities, our first expectation is that these operations stop immediately and unconditionally.”-Ahmet Davutoglu, Turkish Foreign Minister
August 15, Turkey gave Syria an ultimatum; stop […] Continue Reading…
The Idaho Division of Financial Management revised its projected economic outlook, no thanks to the recent U.S. debt limit debacle.
Officials still project increased tax revenues, but now think employment will be down.
Some reasons they hope tax revenues are up; previous tax collections were higher than predicted, and they expect personal income to increase (somehow).
The […] Continue Reading…