Three more plague cases were found in Colorado, a week after the first infection of the deadliest form of the disease was reported in the state in a decade. The man initially reported with pneumonic plague on July 11 is hospitalized. Two of the new cases also had pneumonic plague, while the third had a milder form. All four cases may be linked to the original man’s dog, which died from the illness, state health officials said.
With a straight face, Barack Obama has been repeatedly telling us that the world is "more stable" and "less violent" than ever. In fact, he believes that this is the best time in history to be alive because of how peaceful and stable everything is. Just this week, his press secretary told the media that this administration has "substantially improved" the "tranquility of the global community". Apparently these guys don't think that we will notice all of the violence, war and terrorism constantly raging all around us.
Yellen’s acting routine is worthy of an Academy Award. In her role, she plays a caring, sweet, grandmotherly type figure all concerned about the poor and middle-class, when reality points to a career as a staunch, frontline protector of the bankster oligarchy.
Overview of the price action in the forward exchange market and a look ahead.
Two weeks ago we highlighted just how "screwed" Las Vegas is due to the catastrophic drought that is occurring (combined with almost total ignorance that this is a problem). As Bloomberg's James Nash reports, about 55% of Nevada, already the nation’s driest state, is under “extreme’’ or “exceptional’’ drought conditions, the worst grades on the U.S. Drought Monitor; but recently the situation has got even worse. Lake Mead, the man-made reservoir that supplies 90 percent of the water for 2 million people in the Las Vegas area, has been reduced by drought to the lowest level since it was filled in 1937, according to the federal government who explained "It concerns us all very much," as it is a resource used by 3 states. Simply put, The shortfall is endangering water supplies to the residents and 43 million annual visitors to the driest metropolitan area in the country.
Having explained how well the economy is going - best in the world, apparently - President Obama is moving on to the immigration scandal. In an unexpected address from his fund-raising trip to Texas (Dallas actually - 100s of miles from the border), and on the heels of his 'executive action' demands on immigration reform, Obama will explain how it's none of his fault and unless 'the other side' give him carte blanche, it's a humanitarian crisis... think of the children (and the taxpayer funding)...
- Xi Says China Conflict With U.S. Would Be Disaster (BBG)
- Short selling drops to lowest level since Lehman (FT)
- Scoping the new subprime as watchdogs cry 'bubble' (Reuters)
- Carlos Slim to break up América Móvil empire (FT)
- Jury Acquits Rengan Rajaratnam in Insider-Trading Case (WSJ)
- Hamas rockets land deep in Israel as it bombards Gaza Strip (Reuters)
- Hong Kong Buyers Queue for New Homes After Prices Plunge (BBG)
- Rebel Stronghold in Ukraine Braces for Its Showdown (WSJ)
- Tiny Houses Big With U.S. Owners Seeking Economic Freedom (BBG)
- Chinese Cash-Bearing Buyers Drive U.S. Foreign Sales Jump (BBG)
Many seem to believe that if we worked our way out of debt problems in the past, we can do the same thing again. The same assets may have new owners, but everything will work together in the long run. Businesses will continue operating, and people will continue to have jobs. We may have to adjust monetary policy, or perhaps regulation of financial institutions, but that is about all. I think this is where the story goes wrong. The situation we have now is very different, and far worse, than what happened in the past. We live in a much more tightly networked economy. This time, our problems are tied to the need for cheap, high quality energy products. The comfort we get from everything eventually working out in the past is false comfort.
Risk assets have started the week off on a slightly softer footing but overall volumes are fairly low given the quiet Friday session last week and with the lack of any major weekend headlines. Equity bourses are down between 25-50bp on the day paced by the Nikkei (-0.4%). In China, a number of railway construction stocks are up 3-4% after reports that China Railway Corp will buy around 300 sets of high speed trains and may potentially launch 14 news railway construction projects soon as part of national investment plans.
It should come as no surprise that when Gallup recently conducted a poll asking residents to rank if their state is the "worst possible to live in" a whopping 25% of its residents, by far the most of any states, responded Illinois. Which were the other "worst possible" states? The table below ranks them all.
Over the past decade, the long-term trends that are destroying jobs in America have accelerated. We have seen countless numbers of jobs shipped overseas, we have seen countless numbers of jobs replaced by technology, we have seen countless numbers of jobs taken by immigrants and we have seen countless numbers of jobs lost to the overall decline of the once great U.S. economy. Unfortunately, even though we can all see this happening, our “leaders” have failed to come up with any solutions. Needless to say, all of this is absolutely eviscerating the middle class. The following are 17 facts that prove that the quality of jobs in America is going down the drain...
A recent court ruling giving cities and towns in New York State the authority to ban hydraulic fracturing (“fracking”) represents an enormous blow to the shale gas industry, which has been hoping to expand operations into the state for several years.
Some basic suggestions for those who are seeking shelter from the coming storms of global financial crisis and recession.
"It's just going to be screwed. And relatively quickly," warns Tim Barnett, of the Scripps Institution of Oceanography, telling The Telegraph, the situation in Las Vegas is "as bad as you can imagine". After a devastating, 14-year drought drained the reservoir that supplies 90% of the city’s water, the apparently endless supply of water is an illusion as Las Vegas population has soared. As Barnett ominously concludes, "unless it can find a way to get more water from somewhere, Las Vegas is out of business. Yet they’re still building, which is stupid."
The holiday shortened, and very busy, week includes the following highlights: [on Monday] US Chicago PMI; [on Tuesday] US ISM Manufacturing, Construction Spending, and Vehicle Sales, in addition to a host of PMI Manufacturing in various countries; [on Wednesday] US ADP Employment, Factory Orders; [on Thursday] US Non-farm Payrolls and Unemployment, MP Decisions by ECB and Riksbank, in addition to various Services and Composite PMIs; [on Friday] US holiday, Germany Factory Orders and Sweden IP.