Good morning and thanks for the interesting conversation on the previous thread (Keiser Report 51)!
- Microfinance goes subprime
- China invests in Greece hours after downgrade
- UK provides safe haven for another scumbag oligarch (h/t @Mike/Liverpool)
- Even the court jester, Cramer, is too embarrassed to act his part in the blatant stupidity of the ‘free market’
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So today is a nothing news day then…
My attempt to fix this with some Canadian economic news :
Alberta says no to federal government’s idea to expand Canada Pension Plan
http://www.cbc.ca/cp/Money/ED630fr.html
Canadians nearing retirement age are financially unprepared, says study
http://www.cbc.ca/cp/Money/14daf102.html
Canadian agriculture could be heading for a U.S.-style sub prime mortgage meltdown, according to George Brinkman, professor emeritus with the University of Guelph’s agriculture faculty.
Read more:
http://www.cbc.ca/money/story/2010/06/09/f-farm-income.html
Time to take the U.S. dollar down a peg or two
Read more:
http://www.cbc.ca/canada/story/2010/06/09/f-vp-pittis-dollar.html
“In the Gulf of Mexico, it’s very accessible,” Martin said. “In the Canadian North, accessibility is obviously an issue. The ecological damage could be absolutely enormous and could affect many other countries, because Canada is a circumpolar nation.”
Read more:
http://www.cbc.ca/money/story/2010/05/03/f-offshore-drilling-rules.html
@Max Power – ha ha, be warned that posting any bad news about Canada will get you bombarded with hate from the Canadian ponzis who are convinced (as all busted ponzis before them) that Canadians are 3 times more powerful than other economic beings and these super powers mean that they are immune to the laws of physics and maths
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@Max Power – ha ha, be warned that posting …
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???
Whatever you said was totally lost in translation … honestly Bob Dyan lyrics are far more understandable than what you said. I thing the OED has under “incomprehensible gibberish” … “Bob Dylan lyrics”.
???
@ Stacy
Don’t forget to include Australia in the inter-continental “Axis of Bubbles”!
Wow, Cramer says sell.
GO LLLLLLLOOOONNNGGGGG
Stacy,
If our economy goes into depression so will Canada’s,85% of their exports are to the US. The growth in far right hate groups here in the US is talked about very little but it’s scary. MSNBC has a special tonight the rise of the New Right I’m watching it. My cousin’s daughter’s cancer is back it is very bad. She is only 23 and has a four year daughter she is also half Latino.
Stacy,
The tea party is dominated by people with very racist views.
@Max Power – http://translate.google.com
@Majestic – shhhh, don’t mention the ‘b’ word . . .
@Brandon – there is a new study that looks at relationship between gdp declines and rise of right: http://economix.blogs.nytimes.com/2010/06/13/growth-and-the-right/?scp=1&sq=right%20depression&st=cse
With that, however, I don’t know how they adjust or not for cooked gdp numbers . . .
@ Stacy
“Bernanke”?
…oh!
(the inflated fiat penny drops)
Good article Stacy I’m the Grandson of a man who voted for George Wallace in 1968 and he lived on the Northwest side of Chicago. This wasn’t just a deep south deal. My family grewup about 20 blocks north of some of the worst riots in 1968 after King was killed. Even today the West side of the Chicago hasn’t recovered. It is racked with poverty, vacant lots,abandoned building, gangs, drugs and violence on a daily basis. Wallace won 14% of the national vote in 1968.
I am waiting for the day that cramer is a “good bye”. He still must be pulling his weight with that silly tv show. Hey Keiser, any way You can do a RICO on him?
@ Brandon Sanks.
Really sorry to hear that. it’s especially difficult to see and hear someone, who has a young child, is suffering from cancer or any other serious illness.
When the recurrence of cancer happens, it’s really painful and difficult to cure or fight back. Just hope your cousin fights back!!.
@ Branson Sanks
Hope your relative has a good health care.At least she can be free from the economic burden. Fingers crossed.
The foxes now have the hen house
http://news.bbc.co.uk/1/hi/business/10326027.stm
the tea party is not raceist!
i for one . not wacthing chris mathews hes an idiot.
the tea party is the only chance america has.open borders will destroy america
but when illegal means legal anything can happen.
alex jones is the only one standing for america
but lets face it most americans will be rioting when the market colllapses.
and most of those will be illegals.
the diffrence between me and most people is a blind man can see this coming.
so stop blameing the tea party!
unless you illegal or a criminal like chris
Most of the microfinance institutions that have been created in the last ten years have focused their attention on making loans, not to the poorest people, as Yunus insists is necessary, but to the relatively well off. This because the banks and corporations who are responsible for many of these enterprises have attempted to make microcredit more “profitable” – as in profitable for the banks, instead of focusing on the core goal of poverty eradication. It will be of tremendous benefit to microfinance worldwide when these profiteers go belly up, a process that will be accelerated the more politicians and bankers get involved.
Bloomberg’s corporate lackeys cannot even see what is happening because they are unable to understand microfinance. They approach it with a corporate mindset, and the state of capitalist finance around the world is ample testimony to the inadequacy of that way of thinking.