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Palm Island resort, Dubai ZeroHedge says Dubai never even remotely resembled capitalism and makes some telling points, detailing what led to the imminent Dubai default on debt: A total discount of the importance of institutional strength A deleterious disregard for even the most basic fixed cost analysis U.S. levels of entitlement accounting delusion Something [...] Salinas homicides and shootings 2009. By KSBW The homicide rate in Salinas is three times that of L.A. and local police are clearly overwhelmed by warfare between the major and powerful Hispanic gangs of La Familia and the Mexican Mafia. So they’re bringing in US military experts in counterinsurgency. Global Guerrillas / Lind From [...] A telecom company in India, has launched a new service that allows farmers to operate their irrigation pumps remotely using a SMS-capable cellphone. This is extremely useful because the alternative often is for the farmers to walk many miles to the pumps, often at night because the electricity supply is a bit more reliable then [...] This is making banks and lenders across the planet quite twitchy and could be the biggest sovereign debt default since Argentina in 2001. Abu Dhabi won’t backstop the debt and the price of credit default swaps for Dubai’s debt is is now greater than that for Iceland (which means big players think Dubai is [...] The Agonist provides the photo, and has a poem. Great gaggles of relatives will be arriving soon. Much food will be eaten, football games will be watched. And I have no plans to indulge myself in Black Friday shopping (which appears to have started last week anyway.) [...] I am turkducken. Fear me. A chicken stuffed in duck stuffed in a turkey, all wrapped in bacon. Otherwise known as a bacon-wrapped turducken. From the grumps at Clusterstock Everything comes in pumpkin pie flavor. Even coffee. Which is sacrilege. Aunt Flo’s nasty green bean casserole. No further explanation required. Except that you have to pretend to like it. The family dog. Who never stops begging for food. We are having sixteen for Thanksgiving today. One is bringing [...] Inequitable. Unconscionable. Vexatious. Opprobrious. These are just a few of the choice words a New York state judge used to describe the behavior of Indymac in a decision in which he wiped out the $292,500 sub-prime mortgage owed by a homeowner to the bank. May thousands more follow. The court found that Indymac’s conduct [...] At this point there is little sense in putting up any more gold charts. It is pretty clear what is happening: John McClane and Samuel L. Jackson are waiting for the next phone call with detailed instructions from Bernanke on how to short the dollar as the kleptocrats haul the 33 Liberty Street gold [...] Gee, where have we heard that before? (For you youngsters out there, that’s Lyndon B. Johnson, the President who campaigned as the “peace candidate” against “war-hawk” Barry Goldwater, while escalating American troop levels from 16,000 to 550,000.) Yes, given that sending lots of troops into Afghanistan hasn’t worked before then certainly sending still more [...] |
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