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A Red Herring - By Doug Noland - 18 years ago
"I’ll posit this evening that the entire issue of “central bankers vs. asset Bubbles” has become little more than A Red Herring. While it is as of yet too early in the unfolding financial and economic crisis for “consensus opinion” to have reached a similar conclusion, in reality contemporary monetary management can already be proclaimed an unmitigated failure. Cloaked in ideology and a flby ProjectC - Project C
Soros: Global investing's godfather - By Eric Schurenberg - 18 years ago
George Soros retired as a multibillionaire. But now he's back, hedging his wealth against what he calls the worst economic crisis in 75 years. Interview by Eric Schurenberg, Money Magazine managing editor May 14, 2008 Source (Money Magazine) -- Broke and friendless in postwar London, having just spent his last penny on food, 22-year-old George Soros made the first of a lifetime of prby ProjectC - Project C
The Water-Industrial Complex - By William Pentland - 18 years ago
William Pentland 05.14.08 Source In 2001, a water shortage in America's Pacific Northwest wiped out nearly a third of the U.S. aluminum industry. Low precipitation levels in the Cascade Mountains during the preceding winter robbed local reservoirs of the water needed to turn the massive turbines inside the region's main hydroelectric power plant, the Bonneville Power Administratioby ProjectC - Project C
Europe could get manned spaceship - By Jonathan Amos - 18 years ago
By Jonathan Amos Science reporter, BBC News 13 May 2008 Source A plan for a manned spacecraft has been announced by the European firm EADS. Its Astrium division has designed a variant of its space station freighter that could also transport astronauts. Limited details were released in Bremen, Germany, on Tuesday; further information and a mock-up are expected at the Berlin Air Show thby ProjectC - Project C
The Financial Crisis: An Interview with George Soros - 18 years ago
"Woodruff: You write, "We are at the end of an era." When this current credit crisis ends, will the US still be, no doubt about it, the world superpower when it comes to the economy? Soros: Not at all. This is now in question. And you now have entered a period of really considerable uncertainty and turmoil because of the general flight from currencies, which manifests itself inby ProjectC - Project C
The Oil Nonbubble - By Paul Krugman - 18 years ago
By PAUL KRUGMAN Published: May 12, 2008 Source “The Oil Bubble: Set to Burst?” That was the headline of an October 2004 article in National Review, which argued that oil prices, then $50 a barrel, would soon collapse. Ten months later, oil was selling for $70 a barrel. “It’s a huge bubble,” declared Steve Forbes, the publisher, who warned that the coming crash in oil prices would make theby ProjectC - Project C
G7 loses grip on global policy to O5 - By Barry Herman - 18 years ago
"Galvez proposed creation of "an integrated multi-stakeholder forum, council, or a committee on financing for development." It would include national government representatives who sit on the policy organs of the UN, IMF, World Bank, and WTO, plus representatives of UN agencies, members of civil society, and private sector organizations. Its objective would be to undertake an integby ProjectC - Project C
A New Inflationary Epoch - By Doug Noland - 18 years ago
"And it is not only government policymakers grappling with today’s new reality: the extreme uncertainty with regard to future pricing and availability of critical resources. Industries throughout the U.S. and global economies now confront a fundamentally altered environment, where the pricing and availability of key inputs can no longer be taken for granted. For many, the whole idea of “jby ProjectC - Project C
Wall Street fears the light - By Loren Steffy - 18 years ago
By LOREN STEFFY May 8, 2008 Copyright 2008 Houston Chronicle Source The fear in Wednesday's stock decline was palpable. Wall Street was responding to the specter of transparency the way it always does — with alarm. Big brokerage firms, led by Merrill Lynch and Lehman Bros., plunged after the nation's top securities cop called for more disclosure of Wall Street's financby ProjectC - Project C
Third admit to hangover at desk - BBC News - 18 years ago
"Cary Cooper, Professor of Organisational Psychology and Health at Lancaster University, said excessive drinking was a manifestation of stress, and it was endemic in certain industries." Third admit to hangover at desk BBC News 6 May 2008 Source One in three employees admits they have been to work with a hangover and more than one in 10 has been drunk at their desk, a studyby ProjectC - Project C
How Stay-at-Home Moms Are Filling an Executive Niche - By Sue Shellenbarger - 18 years ago
By Sue Shellenbarger 2008 Source Lots of employers would like to be able to hire cheap, temporary teams of seasoned pros with experience managing $2 billion investment portfolios, running ad campaigns or earning Ph.D.s in neuroscience. But few know the secret to finding temps of that caliber: Look on playgrounds and at PTA meetings. The decision among some highly educated women to stayby ProjectC - Project C
Australian state in drink purge - By Phil Mercer - 18 years ago
Many Western countries have a binge drinking problem Australian state in drink purge By Phil Mercer BBC News, Sydney 5 May 2008 Source Undercover teenagers could soon be the police's latest weapon in one of the biggest alcohol abuse clampdowns led by the Australian state of Victoria. The authorities have begun covert surveillance to catch bars illegally serving drunk andby ProjectC - Project C
Revisting Financial Arbitrage Capitalism - By Doug Noland - 18 years ago
“In the present stage of development the financiers are not acting as the ephors of the economy, editing the financing that takes place so that the capital development of the economy is promoted. Today’s managers of money are but little concerned with the development of the capital asset of an economy. Today’s narrowly-focused financiers do not conform to Schumpeter’s vision of bankers as the eby ProjectC - Project C
Nikola Tesla, Pigeon-Loving Inventor of Death Ray - Interview by Manuela Hoelterhoff - 18 years ago
"He had plans to build a ring around the equator so that just by staying stationary, you would be able to travel around the world in 24 hours. And plans that almost seem like dreams. He was thinking about wind power, thinking about solar power, thinking about batteries that are far, far more efficient than the batteries that we even have here 110 years later. He had plans to photograph thougby ProjectC - Project C
The Fed’s Dilemma: Rescue the Housing Market, or Feed the Poor? - By Martin Hutchinson - 18 years ago
By Martin Hutchinson Contributing Editor Tuesday, April 29th, 2008 Source At their two-day meeting that starts today (Tuesday), U.S. Federal Reserve policymakers will have to grapple with a moral choice that is well beyond the pay grade of central bankers - choosing between the financial stability of U.S. homeowners and world hunger. That’s not an exaggeration. Interest-rate policy normaby ProjectC - Project C
Global adjustment will be long and painful - By Wolfgang Münchau - 18 years ago
By Wolfgang Münchau April 27 2008 Source So this crisis is about to end, right? There are two failsafe ways to justify a solid dose of optimism: define the crisis in a sufficiently narrow way; and, even better, look at the wrong crisis. In that spirit I am happy to state my optimism about the prospective end of the subprime crisis. But this would be disingenuous. It is no accident that ouby ProjectC - Project C
Buffett: Economy in a recession, will be worse than feared - 18 years ago
Reuters April 28, 2008 Source NEW YORK (Reuters) — Warren Buffett, the world's richest person, said Monday that the U.S. economy is in a recession that will be more severe than most people expect. Buffett made his comments on CNBC television after his Berkshire Hathaway (BRKA, BRKB) agreed to invest $6.5 billion in the takeover of chewing gum maker Wm Wrigley Jr (WWY) by Mars in a $2by ProjectC - Project C
Looking at Greenspan's Long-Lost Thesis - By Jim McTague - 18 years ago
By JIM MCTAGUE MONDAY, APRIL 28, 2008 Source WE'VE FOUND IT -- A COPY OF ALAN Greenspan's long-lost Ph.D. thesis! Or, more accurately, a rare copy of the elusive document, in Lassie-Come-Home-fashion, found us. The dissertation, written in 1977 when Greenspan received his coveted degree from New York University, had been tucked away on a professor's sagging bookshelf for 31by ProjectC - Project C
One Guy Who Has Seen It All Doesn't Like What He Sees Now - By E. S. Browning - 18 years ago
One of Peter Bernstein's worries: 'If China goes into a recession, God knows.' One Guy Who Has Seen It All Doesn't Like What He Sees Now By E.S. BROWNING April 26, 2008; Page B1 Source Peter Bernstein has witnessed just about every financial crisis of the past century. As a boy, he watched his father, a money manager, navigate the Depression. As a financialby ProjectC - Project C
The man who wants to turn China green - By Juliana Liu - 18 years ago
By Juliana Liu BBC correspondent, China's Hunan province 19 March 2008 Source On the outskirts of Changsha, capital of China's Hunan province, stand a 130-foot tall gold Egyptian pyramid and a full-size replica of the Versailles palace. They are the icons of Broad Town, a huge factory campus owned by middle-aged businessman Zhang Yue. The pyramid and the palace, rather incoby ProjectC - Project C
The Meaning of Stage II - By Doug Noland - 18 years ago
"Otherwise intelligent financial commentators argue that today’s rising energy and food prices are not a “monetary phenomenon.” Instead, these price pressures are said to be due to strong demand from China and India – wealthier consumers choosing to upgrade their diets. But both the Chinese and Indian economies (and many others) are now operating with virtually unlimited Credit – a uniqueby ProjectC - Project C
Nobel Winner Stiglitz: U.S. Facing Long Recession - 18 years ago
By CNBC.com 25 Apr 2008 Source The U.S. economy is already in recession -- and may echo the 1930s, Nobel Laureate Joseph Stiglitz said Friday. "The big question is: how will the government respond?" said Stiglitz, in an interview with CNBC. Stiglitz, a Columbia University professor and 2001 winner of the Nobel prize, detailed his bleak outlook for the American economy. "by ProjectC - Project C
The Way We Live Now - By Michael Pollan - 18 years ago
"There are so many stories we can tell ourselves to justify doing nothing, but perhaps the most insidious is that, whatever we do manage to do, it will be too little too late. Climate change is upon us, and it has arrived well ahead of schedule. Scientists’ projections that seemed dire a decade ago turn out to have been unduly optimistic: the warming and the melting is occurring much fasterby ProjectC - Project C
What Warren thinks... - By Nicholas Varchaver - 18 years ago
"I read a few prospectuses for residential-mortgage-backed securities - mortgages, thousands of mortgages backing them, and then those all tranched into maybe 30 slices. You create a CDO by taking one of the lower tranches of that one and 50 others like it. Now if you're going to understand that CDO, you've got 50-times-300 pages to read, it's 15,000. If you take one of the loby ProjectC - Project C
The only lesson we ever learn is that we never learn - By Robert Fisk - 18 years ago
"On our historical radars, not even Crassus appeared, the wealthiest Roman general of all, who demanded an emperorship after conquering Macedonia – "Mission Accomplished" – and vengefully set forth to destroy Mesopotamia. At a spot in the desert near the Euphrates river, the Parthians – ancestors of present day Iraqi insurgents – annihilated the legions, chopped off Crassus'sby ProjectC - Project C
The fearful lives in a land of the free - By Robert Fisk - 18 years ago
Westerners assume that anyone with a Canadian passport is safe By Robert Fisk Saturday, 5 April 2008 Source I was given the chance to talk to 600 Muslim Canadians a few days ago. The dinner was in an Ottawa banqueting room and the guests also included the imam of the Ottawa mosque, the Ottawa chief of police and sundry uniformed Canadian army officers. The imam sat between me and the Cby ProjectC - Project C
Bernanke Grapples With Greenspan as Volcker Scorns Fed Bailouts - By Steve Matthews - 18 years ago
"In his April 2 testimony, Bernanke pointed out that the Federal Reserve was created in 1913 in response to another market meltdown, the Panic of 1907. On March 14 of that year, exactly 101 years before the Fed's Bear Stearns intervention, the stock market fell 8.3 percent, touching off a number of bank failures. ... ``One of the reasons we are in this particular predicament is beby ProjectC - Project C
International financial system was close to the brink - Credit Suisse ex-CEO - 18 years ago
Thomson Financial News April 20, 2008 Source ZURICH (Thomson Financial) - The international financial system was close to the brink in March when joint action by the U.S. Federal Reserve and JP Morgan Chase & Co. avoided the collapse of investment bank Bear Stearns, Credit Suisse Group's ex-CEO Oswald Gruebel said. The breakdown of the comparatively small investment bank would hby ProjectC - Project C
Saudis put oil capacity rise on hold - By Carola Hoyos - 18 years ago
By Carola Hoyos in Rome April 20 2008 Source Saudi Arabia, the world’s biggest oil producer, has put on hold any plans to further increase long-term production capacity from its vast oil fields, its most powerful policymakers have said. In a series of statements, including one by the king himself, the kingdom has warned consumers it does not reckon there is a need for further expansion, aby ProjectC - Project C
Lessons from the Great Depression Part VII - By Dr. Housing Bubble - 18 years ago
By Dr. Housing Bubble April 10th, 2008 Source This is going to be a rather long post but I think it warrants a full reading. These excerpts were written in 1935 during the Great Depression. They give us a look at an overall perspective of what happened both politically and economically to exasperate the current situation. The parallels are uncanny and of course, we are in different times, yeby ProjectC - Project C