Big Oil - enemy of people and planet by Dick Nichols
Big Oil - enemy of people and planet by Dick Nichols Posted on June 24, 2008 by dandelionsalad Dandelion Salad Posted with permission by Green Left Weekly (note: if you want to repost, you ll have to get permission from them.) by Dick Nichols Green Left Weekly 20 June 2008 The latest surge in the spot price of crude oil (to US$139 a barrel 87.4 cents a litre) dramatises the urgent need for society to wean itself off black gold . The longer we remain hooked the greater the devastation
HousingPANIC Quote of the Day
“Congress wants to have a nationwide housing bill ready by July 4. That’s ironic, since not much about its bipartisan legislation seems to foster independence. Quite the opposite. Capitol Hill’s attempt at helping Americans saddled with mortgage debt amounts to little more than a bailout.” - Peoria Journal Star editorial board, June 2008 (Sorry Chris Dodd, your corrupt POS lender and gambler bailout legislation ain’t playin’ in Peoria)
Fischer Francis to Buy `Cheap’ Mortgage Debt as Subprime Ebbs (Bloomberg.com)
June 26 (Bloomberg) — Fischer Francis Trees & Watts plans to buy more U.S. commercial mortgage-backed securities relative to government bonds in coming months, Tokyo-based fund manager Naruki Nakamura said in an interview.
The Fed is Losing Control of Inflation
The Fed loses control of inflation… The world is in danger of a “global stock and credit crash,” says the Royal Bank of Scotland. A “very nasty period,” may be coming, it goes on, as “the chickens come home to roost.” Morgan Stanley also warns that a ‘catastrophic event’ may be coming, caused by the collision between Europe’s tight monetary policy and America’s loose one. Surging inflation all over the world is putting pressure on the Fed to raise rates. But raising rates in an econom