Month August 2007

Central banks scrambling

The Fed along with Canadian and European Central Banks are flooding financial markets with money trying to drive down interest rates and provide liquidity. The European intervention was their largest ever, $130 billion. Calculated Risk has more. From the comments…

Don’t lose them, junk them

As Bob noted, the U. S. military lost 190,000 weapons in Iraq.  But that’s not all.  Last month, surplus F-14 parts were intercepted on their way to Malaysia, after which they would have been headed for Iran. But don’t worry,…

Subprime Quote of the Day

Jim Kunstler, writing on Monday. One can only imagine the number of cell phone minutes racked up this weekend out in the Hamptons by players trying desperately to finagle their way out of the brutal fact that their firms and…

Russian youth hostile to US

A survey of Russian youth found them to be strongly anti-American, a view encouraged and exploited by the government. A primary reason for the anti-Americanism the study concludes, is “Bush administration counterterrorism policies.”