May 2009
29 posts
Geithner is visiting the US's biggest "share...
The government figures show that China held around $768 billion of Treasuries,
Soure: http://www.allheadlinenews.com/articles/7015333691#ixzz0H6YwvNWY&B
I'd rather go to the mob
Capital One just sent me a change in the terms of a credit card I have. I should note that I haven’t used this card in literally years and just keep it because it’s good for my credit (which is stupid and a story in itself).
They informed me that should I pay my bill late twice in a 12 month span, they would charge me the prime rate PLUS 26.15% . That makes the rate 29.4% !?!.
...
I previously wrote that the shrank 6.1% back in May, but the commerce department has readjusted their number to a negative 5.7% growth rate.
Glad they did the number crunching, that’s much better!
The new normal is 2%
That’s PIMPCO’s latest preduction for economic growth for many years to come - for some perspective it’s been typically in the area of 4%.
GM Shares are cheap, invest now
The Treasury is going to receive about 70% of GM as a result of the bancrupcy (though it will likely pay well over 70 billion dollars including the 20 billion it’s already payed).
The UAW will hold around 20% through its retiree health care fund, and bondholders and other parties will get the remaining share.
Shareholders will be pretty much wiped out. GM closed @ $1.15 today, last chance...
“Nothing is impossible for the man who doesn’t have to do it himself”
– A.H. Weiler
“The terrible thing about the quest for truth is that you find it”
– Remy de Gourmont (poet)
“True terror is to wake up one morning and discover that your high school class...”
– Kurt Vonnegut
Banks were allowed to negotiate the amount of capital they are required to raise as a result of the stress tests. By looking at forward earning of the banks
110 billion of the original 194 billion was removed from the reccommended amount of capital to raise.
That’s why the results were delayed. I don’t think it’s a test when both sides negotiate the result.
The NY Times reported: “the Obama administration’s drug czar made news last week by saying he wanted to end all loose talk about a ‘war on drugs.’ ‘We’re not at war with people in this country,” said the czar, Gil Kerlikowske, who favors forcing people into treatment programs rather than jail cells.’ “
Good news the US government isn’t at war with the...
CDC says 1/2 of all US flu cases have Swine flu →
Link goes to Web MD article. 30 million people get the flu a year, about 100k have it now, 50k have H1N1 version.
Everyone can stop shutting down schools (or start depending on your angle)
The CIA mislead us on the use of water boarding. The NY Times wrote this could damage the agency’s reputation?! Sounds right in line with the agency’s reputation…
European Economy Shrinks 2.5% in Quarter →
I don’t think they fudge their numbers as well as the US or China.
Accounting is officially retarted
Bank of America posted a “profit” last quarter largely on the fact that their credit is so bad other banks aren’t expecting full payment from them (like $0.80 on the dollar). Therefore there is a one time gain on their books.
Seriously? Your a crap company so now book profit. A-mazing.
The IMF (International Monetary Fund) said only 1/3 of the estimated 4 trillion of toxic assets have been written down.
There is more pain to come.
WOW - UK might get 50% tax rate
In the UK they are going ot makeup for spending. If you make over 150,000 pounds a year… 50% of your money will now go to the government!
http://www.businessinsider.com/yow-uk-considers-raising-top-tax-rate-to-50-2009-4
Goods news if your the origin of an outbreak
The world bank is loaning Mexico 250 Billion to deal with the piggie flu.
The economy is getting less bad. Only lost 539k jobs in April, casual half million
New York Charges Rent for Working Homeless →
Discuss amongst yourselves.
Pro:
Modivates people to get out of system.
Less of a tax burnden on the state.
Con:
Might keep a smaller number of people in the system longer
If you quit/lose your job you won’t have to pay anything
Android 1.5 looks much nicer
The buttons and the UI in general look a bit nicer.
Obama has good timing?! →
Comedic timing that is
“Patience is something you admire in a driver behind you and scorn in the one...”
– Mac McCleary
Keep it clean TV
The supreme court ruled 5-4 to uphold the FCC’s right to fine TV networks tat inadvertently broadcast “fleeting expletives”.
Time for a few more justices to hurry up and retire. Who gives a shit if a F-bomb slips out now and then. Youth if fucked for a host of other real reasons anyway.
So much for that whole “Congress shall make no law … abridging the freedom of...
Chrysler is a fun mess
It’s pretty interesting what’s going on with Chrysler right now. 30-60 days for bankruptcy court filled with politics. Also to note is that some investment firms and hedge funds are secured creditors that could actually want the land instead of a part of a broken company. A UAW health care trust fund that is owed money by Chrysler, but Chrysler doesn’t have the money so it’s...
Now it's a 3. Thanks bryanhammer! →
This is real news…
My Tumblarity is 0
This saddens me. I’m going to blame being out of the country for 10 days on my fall from what was likely the top.
US economy shrank 6.1% last quarter
If your a stupid economist, you’d say it grew by negative 6.1%