“The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone.”-Chinese government/media commentary
The European Central Bank will hold an emergency meeting on Sunday, August 7. The issue; the credit […] Continue Reading…
German drug and chemical giant, Bayer, says high utility cost in Germany could force it to move all its German operations to a new location outside of Europe.
The most likely new home for Bayer, China.
Bayer blames the German government, and in a round about way the German people, for their decision to end the […] Continue Reading…
“In order to increase the political pressure on Damascus and to give a signal to Syrian society, I would welcome the withdrawal of European politicians.”-Ruprecht Polenz, chairman of the German parliament’s foreign affairs committee
“I do not believe that there can be a political future for Assad that would be supported by the […] Continue Reading…
U.S. Army Reserve specialist, Charles Graner, led a six member team at the Abu Ghraib prison in Iraq. Maybe you’ve forgotten all those pics of prisoners being terrorized by U.S. soldiers?
Graner was found guilty and sentenced to ten years in prison. Now he’s being released after only 6 and a half years. Iraqis have […] Continue Reading…
“Things that were unthinkable are now becoming thinkable.”-James W. Hughes, School of Planning and Public Policy at Rutgers University
If you want proof that the housing market still hasn’t hit bottom, just look at what Bank of America is doing, they’re bulldozing all those homes they foreclosed on. Why? “There is way too much supply, […] Continue Reading…
Now that it’s become clear that most of Japan’s upcoming rice harvests are most likely to be contaminated with cesium, Japanese are holding onto last years rice like it was gold.
Japanese retailers are reporting that bags of last year’s rice are flying off the shelves, because consumers don’t think there will be any rice […] Continue Reading…
Inflation is hitting other countries harder than the United States (so far). In Japan inflation has caused the price of butter to go up so high, that the government announced they will flood the butter markets with more butter.
But that butter isn’t coming from Japan. Butter production collapsed after the March 11 disasters, so […] Continue Reading…
Believe it or not the electronics giant Sony has been losing money big time on TV sales. Prior to the March 11th disasters Sony lost about $95 million from TV sales.
Hitachi recently announced they would shut down their last Japanese TV factory by March 2012. They claim they’re losing to competition from South Korea.
Sony […] Continue Reading…
Recently it was announced that the U.S. Senate made a deal that would put thousands of FAA employees, and contractors, back to work. This after it was revealed that the government was losing hundreds of million in tax revenues from the FAA shutdown. Those loses far outweighed the savings from not having to pay […] Continue Reading…
The mortgage lender Fannie Mae reported a huge 2nd quarter loss of $5.2 billion. Now they want another $5.1 billion from taxpayers.
Let me remind you that Fannie Mae asked for $8.5 billion back in May! So far the mortgage lender has gotten about $99 billion in bailout money from the U.S. government (taxpayers).
Fannie Mae […] Continue Reading…