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Feb
28

The State Of Advertising

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If you search for “NASCAR sponsorship problems” at Google, there are over half-a-million results. NASCAR has seen a huge decline in advertisers. So much so, that entire race teams have been laid-off. It’s not just racing that is being hurt in this economic downturn. Most professional sports, such as the [...]

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Feb
27

The Ever Shrinking Economy

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Washington, DC — The Commerce Department released its report on the 4th Quarter GDP. Though it was expected to be bad, it came in even worse — down 6.2 percent on an annual rate.

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Feb
27

FDIC Changes Charges

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In 2007, there were 3 bank failures. In 2008, there were 25 bank failures. So far in 2009, there have been 13 bank failures.
The Federal Deposit Insurance Corporation expects bank failures will cost the insurance fund $65 billion through 2013.
In response, the FDIC is raising fees on banks, as well as, adding emergency [...]

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Feb
27

Insured Banks and Thrifts Lost $26.2 Billion in the Fourth Quarter

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from the FDIC
Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported a net loss of $26.2 billion in the fourth quarter of 2008, a decline of $27.8 billion from the $575 million that the industry earned in the fourth quarter of 2007 and the first quarterly loss since 1990. Rising [...]

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Feb
27

Get Out Of Town… Or, At Least Iraq

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President Obama announced today that the USA would pull its military troops out of Iraq over the next 18 months.
The announcement comes one day after the Secretary of Defense announced a change to the Photographing of Caskets of Fallen Troops policy.
SEC. GATES: I’d like to address two subjects today.
[...]

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Feb
27

Look to the Sea

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It’s getting closer. Faster. Sea level rise, globally averaged over the last 15 years is twice that averaged over the last 50.
1.6-1.8 mm/yr over the last 50 yr., to 3.5 mm/yr. over the last fifteen, as much as 1cm(10mm, 0.4 inch)/yr in parts of the western Pacific. Not much, one would think. Consider [...]

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Feb
27

The Hidden Link Between Factory Farms, Toxic Chemicals and Human Illness

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* The Hidden Link Between Factory Farms and Human Illness
By Laura Sayre
Mother Earth News, February/March 2009
Straight to the Source
You may be familiar with many of the problems associated with concentrated animal feeding operations, or CAFOs. [...]

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Feb
26

Another Quarter, Another 25 Billion

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Fannie Mae reports US$25 billion loss for 4Q2008. Wants another 15 billion. Cash flow statements are rather revealing of the political mandate of large puchases of MBS last year. Wonder how much cash brother Freddie blew ? Not to speak of cousin Ginnie, whose paper is explicitly guaranteed by the full faith and credit of [...]

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Feb
25

Peter Schiff Responds to Obama Speech to Congress

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Excellent message. Peter is 1000% correct that Obama’s speech reveals a total lack of understanding of basic economics:
Watch the Video:
http://www.dailypaul.com/node/84120

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Feb
24

Mining the Dead

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This reminded me of the book, ‘Dead Souls’ by Nikolai Gogol.
Companies are taking out insurance policies on dying employees, writing off “the premiums and the interest on the loans to buy the policies as a business expense.”
But wait, there’s more:
“In addition, the investment returns and death benefits aren’t subject to federal income tax”
Do you [...]

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