Stacy Summary: A UK headline special. Any to add?
  |
 |
-
ref. max keiser – Get 6 mo’s free storage
-
Rick Ackerman-
- Karl Denninger – Market Ticker
- The Big Picture
- Mish
- David Morgan
- King World News
- SmartKnowledge
- GoldCore
fiat money and the french revolution
-
crash banksters – Buy Silver & gold
![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/platinum/t24_pt_en_usoz_2.gif)
-
Nobody wants to the the first to go down…
I have a Goldman headline to add. Don’t know if someone already posted it elsewhere, b/c I haven’t been going through all of the comments lately. The Great Goldman Sachs Fire Sale of 2008.
Just like the UK, third!
I remember you guy’s mentioned a certain “Prince Bandar” the other day… Is this related in any way?
http://www.washingtonpost.com/wp-dyn/content/article/2010/02/19/AR2010021901966.html
lol, the business bullet next to the telegraph article says the next country in trouble is going to be Portugal.
1st article mentions Japan’s desire to put in place an international transaction tax. Since they’re our #1 creditor now, might they go the way of the Chinese in order to get what they want out of the US, and start selling some treasury bonds?
The US 2009 budget deficit was 1.417 trillion dollars but if you add the off budget the total was 1.885 trillion dollars so America is in worse shape than you think. Next year’s budget deficit is announced at 1.6 trillion so if you add a half trillion dollar off budget the total will be 2.1 trillion dollars.
And that 2.1 trillion dollar deficit assumes Obama can get the Congress to raise taxes in a very tough election year. It also assumes that tax collections will not decline as the economy contracts (as indicated by shrinking M3 money supply.)
I think I can safely make the case for America as the Number One Deadbeat.
Remove the money laundering done in the City and it’s game over for UK.
Price of farmland rises as investors pile in
The price of farmland rebounded during the second half of 2009 as low interest rates caused investors to look for alternative homes for their cash, research showed today.
http://www.telegraph.co.uk/finance/personalfinance/7261507/Price-of-farmland-rises-as-investors-pile-in.html
@WL
About farmland. Nice. But still, the money generated by farming is shitty big time.
Anyone know where Paulson is now???
@Danny – lecture circuit; making tens of thousands to go talk for ten minutes
@Marc
True, now
During Weimar Germany the farmers became the uber wealthy, a great future hedge against inflation or hyperinflation. I have been looking to buy farmland and lease it out to a real farmer, but you need at least 50 acres, hard to find as they tend to stay in families.
Our former Taoiseach (Prime Minister) Bertie Ahern does that too; this after he was ousted from office for dodgy financial transactions ie. corruption. I mean, who goes to these things? The people that do are nearly as bad as the people who give those lectures. Disgusting.
.gnitsugisD .serutcel esoht evig ohw elpoep eht sa dab sa ylraen era od taht elpoep ehT
nemA
@Danny
Actually I believe the sycophants are worse than the evil doers they suck up to.
@NicAbott
Maybe your right. Bunch of Wormtongues the lot of them.
You know, the 0.10% “Growth” figs Britian had last month are (We hear) about to be revised DOWN!
I sit here easy, my only concern is if we have enough ink & paper for all the printing the BOE is going to do?
Oh, Yes am voting Labour as well, i want Gordon back in (Just).
Mike
Peak Gold production has come and gone. declined since 1999
http://www.thefinancialtube.com/video/7587/Peak-Gold-Has-Been-and-Gone-CEO
@WL
The big problem with farmers. Screwed by their suppliers, bankers, politicians and the middlemen. The cost for producing food goes up and up and up. And they DO NOT control the distribution channels. Quite dramatic when you have to sell a perishable product to pay your suppliers and the freakin banks. And you have the real estate taxes too. Farming is an horrible business.
You are in control of almost nothing. Buy a farm for survival purpose. But for a business ? Not evident. Renting farmland is a nice idea. Don’t expect to get rich on that. It gives about 2% more interest than a treasury bond.
@Marc
Agree,
It is an asset play, not a business venture
Wow a Goldman ex – appointed to Geek Debt Office
from ZH
http://www.zerohedge.com/article/head-greek-debt-office-replaced-former-goldman-investment-banker
http://www.zerohedge.com/article/head-greek-debt-office-replaced-former-goldman-investment-banker
You really can’t make this stuff up I suppose….
I guess it’s been a long time in planning.
From Athens news bureau 12 years ago:
http://www.hri.org/news/greek/ana/1998/98-09-17.ana.html
21] National Bank of Greece reshapes treasury operations
Athens 17/09/1998 (ANA)
State-run National Bank of Greece, a blue chip on the Athens bourse, yesterday announced changes in structure and personnel for its treasury operations following a merger with National Mortgage Bank of Greece, a housing loans subsidiary.
Mihalis Antoniadis, who for many years ran National Bank’s treasury division, has been appointed superviser of its international operations division.
Petros Christodoulou, a veteran in US investment banks abroad, is to become head of Group Treasury, a division created to improve supervision and coordination of dealing rooms in the National Bank of Greece Group.
Mortgage Bank of Greece treasurer Giorgos Papoutsis is to become National Bank’s treasurer for domestic operations, heading the Athens and Thessaloniki dealing rooms.
Deputy treasurer Athanasia Petrounakou will be responsible for monitoring National Bank of Greece’s dealing rooms abroad and coordination of the dealing rooms of banking subsidiaries at home and abroad.
U.K.: Personal insolvency hits ‘record high’ http://news.bbc.co.uk/2/hi/business/8499939.stm
U.K.: The unburst property bubble http://tinyurl.com/ydnhg2y
U.K.’s 80% and Japan’s 180%. The ratio of debt to GDP in the U.S. will continue to expand, reaching 76.5% in 2019 http://tinyurl.com/yaccgsq
Daniel Hannan is holding a UK Tea Party launch in Brighton next week!
http://blogs.telegraph.co.uk/news/danielhannan/100026745/the-eu-wants-pan-european-taxation/comment-page-1/#comment-100177938
@WL
Don’t expect a great return on your investment in farmland – at least in the UK. Good arable land will cost you in the region of £6000 per acre and you will be lucky to achieve a rent of £100 per annum.
Over the last ten years it has been virtually impossible to make a living as a farmer; most farms only remain solvent because the farmer does not cost in his own labour, never goes anywhere except perhaps to market, and never takes a holiday.
No young people are coming into the industry – the average age of Uk farmers is now 60 years old, and soon the skills learned over generations will be lost just as the moment approaches when they will be most needed.
The price of farmland bears no relationship to its productive capacity, rather it is driven up by outside investors. Farming is a long term, capital intensive business that requires at least a semblance of market stability to allow annual cropping decisions to be made. With the advent of the casino economy and derivative speculation that stability has completely disappeared. Prices go up and down like a bride’s nightie, no longer driven by the seasons and the weather but by clicks of a computer mouse.
As I posted before the focus on the so called PIIGS was and is a diversion to get people change their focus from the chaos in the UK and USA economies
Ferguson: America’s Coming Greek-Style Crisis 12 February 2010 (Seeking Alpha) http://tinyurl.com/ygpmt26
US ‘Creative Accounting’ Could Repeat Greek Tragedy: CEO 16 February 2010 (CNBC) http://www.cnbc.com/id/35422136
there was fears that the bankers would leave? that would be a problem? were taking our ball and bat to switzerland if we can’t pitch? why didn’t someone say so long? this is a joke right?
that is so fucking funny. big relief. don’t worry folks the bankers are staying. everybody twist.
twist. http://www.haaretz.com/hasen/spages/1150671.html
Canada odds and sods:
Micro-lofts promise Vancouver renters a break
A Vancouver development company thinks they may have a solution to the high rents many downtown residents are paying — 270-square-foot micro-lofts that will rent for about $300 less than the average bachelor suite.
Reliance Properties is building the suites in the 102-year-old Burns Block, a former six-storey warehouse at 18 W. Hastings St., about one block from the massive new Woodwards development on the Downtown Eastside.
General manager Jon Stovell says the micro-lofts will be about the size of two parking stalls, but will have pretty much everything essential for living, including a bathroom, kitchen, workspace and big loft-style windows that provide natural ventilation and bright views of the street.
“They have a fold-down wall bed, and when that wall bed is up, it has a fold-down table. We integrated a workbench with a built-in flat screen TV so that that does not take any room and created a glassy washroom enclosure that functions as a single area — shower, and toilet and sink all in one area.
Stovell doesn’t think the tiny size will affect livability of the suites, which he compares to similar developments in cities such as New York and London, England, as there are plenty of amenities in the neighbourhood, such as cafés, restaurants and other public spaces.
“I think a couple could live in there,” he said. “They are very beautiful and very modal, and you can switch them around in different ways, depending on what your needs are.”
Depleted low-income housing stock
The Burns Block building, located in the centre of Vancouver’s troubled Downtown Eastside, was once converted to a low-income hotel, but has been sitting vacant after being shut down by city inspectors for fire code violations in 2006.
The Vancouver developer is planning 30 micro-lofts for the Burns Block building on Vancouver’s Downtown Eastside. (Pivot Legal Society)When the former low-income residents were evicted, local housing activists complained the city’s policy of shutting buildings because of safety violations was depleting the stock of low-income housing in the area and contributing to a rise in homelessness.
The new lofts in the building are expected to rent for about $675 to $750 per month, making them suitable for anyone earning over $25,000 a year, but out of reach of their former residents, many of whom were on social assistance.
The average rent of a bachelor suite in downtown Vancouver is $979 per month according to the latest study by the Canadian Mortgage and Housing Corporation, said Stovell.
The new development is not subsidized by the government and is not targeted at the homeless. But despite the size of the lofts, they will be expensive to build, and neither the developers nor the builder, ITC Construction Group, expect to make much money on the project, he said.
Instead, the companies took on the project as a social entrepreneur partnership to help meet the demand for affordable accommodation in the downtown core, he said.
The project was approved by the city in 2008 and is expected to be completed by March 2011.
Read more: http://www.cbc.ca/canada/british-columbia/story/2010/01/25/bc-micro-lofts-vancouver-burns-block.html
BANKERS MOVING FROM THEIR PROTECTION RACKETS IN LONDON & NEW YORK??? Just who would want these parasites ? China… post Google, Rio Tinto, etc. etc, these little cowards know that is not in the picture. India too, is not “Structured Products” friendly, ie fees for the Banks, Feathers for everyone else: Then there is the “SWISS MYTH”, do they really think Switzerland wants American and English IRS squealers. How to, could these titillation junkies survive in a dreary, old law abiding land?