Sunday, September 28, 2008

Stop relying on US media for news

More grim news:

September 8 story from Army Times:
3rd Infantry’s 1st BCT trains for a new dwell-time mission. Helping ‘people at home’ may become a permanent part of the active Army
They hit U.S. soil Wednesday, October 1.

Sept. 25 - China tells domestic banks to stop lending to U.S.
China had been the number 1 buyer of U.S. Treasuries up until summer of 2007, when they systematically began reducing their purchases. The rest of Asia followed suit.

Another mortgage lender forced into receivership - it's a British one this time: Bradford & Bingley.

Next group of firms at the top of the Death Watch:
Wachovia, Fifth Third, Fortis (brokerage firm), Man Financial (brokerage).

More open stock manipulation: SEC allows exchanges to add more companies to short-sell ban list:
NYSE added 7 (Autonation, Zale, Wright Express, iStar Financial, Grubb & Ellis, Hersha Hospitality, and Apartment Investment & Mgmt. Nasdaq added Sears and MRU Hldgs.

Fresh examples of hypocrisy in organized religion: Archbishop of Canterbury castigates short-selling, except the Bank of England loans shares to short sellers. (And made a nice chunk of change on that sideline.)

InTrade, a futures exchange-like web site, has bettors increasingly favoring Obama (311 electoral votes to 229 for McCain).
This is not a poll, but rather an exchange where traders bet on outcomes.

The word is that Palin performed so badly in her prep runs for the VP debate that she will drop out due to "family reasons." And there is no consensus on who would replace her (Leiberman, Romney, ?). lets you send 2 free faxes a day - contact your Congressmen and tell them to vote NO against the bailout plan. John Hussman, PhD, of Hussman Funds, has a superb Open Letter to Congress outlining what should be done instead.
Paul O'Neil, Bush's first Treasury Secretary, is against the plan. So are CEOs of well-run banks. Tell your Congressmen that if they vote for the bill you will not vote for them.
We shouldn't vote for any incumbent anyway.

And now I'm off to catch the White Sox-Indians Death Match.

1 comment:

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