TO SUCCEED over the global credit crunch in aftermath of sub-prime crisis, the European Central Bank (ECB) has announced to grant a record double loan to its banks. The ECB has decided to pump 348.6 billion euros ($501.5 billion) into the banking system through its banks. Though lending to banks at 4.21% rate of interest is available only for two weeks, it is expected that the grant will boost the diminishing confidence of the bank.
Ravi Kant 19 December 2007, Wednesday
The sub-prime (...)
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European Central Bank pumps $500 bn into banking system
30 December 2007 par (Open-Publishing)
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Credit Crunch vs. Central Banks - You Lose
28 December 2007 par (Open-Publishing)
Credit Crunch vs. Central Banks - You Lose
by gjohnsit
Wed Dec 26, 2007 at 10:04:38 AM PST
"If I had to be bold I’d say we began a recession in December." - Bill Gross, Pimco Funds founder
The credit crunch that started in August is threatening to bring the economies of the entire 1st world to a grinding halt. To combat that the central banks of America and Europe are pumping cheap money into the markets at an unprecedented rate. These actions are not without consequences. (...) -
Fed: Another $20B Auctioned to Banks
22 December 2007 par (Open-Publishing)
Fed: Another $20B Auctioned to Banks
Friday December 21, 11:05 am ET By Martin Crutsinger, AP Economics Writer
Fed Has Auctioned Another $20B in Funds to Commercial Banks to Combat Credit Crunch
WASHINGTON (AP) — The Federal Reserve, working to combat the effects of a severe credit crunch, announced Friday it had auctioned another $20 billion in funds to commercial banks at an interest rate of 4.67 percent. Fed officials pledged to continue with the auctions "for as long as (...) -
Henry Kissinger - "culling the Herd"
20 December 2007 par (Open-Publishing)
..."Depopulation should be the highest priority of foreign policy towards the Third World," Kissinger said, "because the US economy will require large and increasing amounts of minerals from abroad, especially from less developed countries...
http://onlinejournal.com/artman/publish/article_2757.shtml -
Will Write For Food
14 December 2007 par (Open-Publishing)
2 commentsWill Write For Food By David Glenn Cox
To whom it may concern,
I am looking for gainful employment. I have worked during my life doing painting and wallpapering. Not just throwing paint or slapping paper on walls but real quality work. I have done carpentry, building walls, decks, finishing basements. I have hung acoustical ceilings and doors, installed sinks. I’ve installed appliances and worked both hanging and finishing sheet (...) -
Forecast: U.S. dollar could plunge 90 pct
10 December 2007 par (Open-Publishing)
3 commentsForecast: U.S. dollar could plunge 90 pct
UPI – via Information Clearing House November 24, 2007
A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.
"We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008."
"The bigger they are, the harder they’ll fall," he said in (...) -
A pay deal is for life, not just for Christmas!!
8 December 2007 par (Open-Publishing)
Management in the Department for Work and Pensions (DWP) are imposing a three year pay deal on staff in their November pay-cheque. This is because they believe that staff want money for Christmas, which is true, but we must not be fooled into thinking short-term. The pay deal is being hailed as a great offer by management who, in an unprecedented move, have been putting pressure on local managers to promote the deal and sell it to staff.
This is only helping to push members into voting (...) -
Recession, Energy Worries Turn Americans Gloomier, Poll Finds
5 December 2007 par (Open-Publishing)
4 commentsBy Matthew Benjamin
Dec. 5 (Bloomberg) — Confidence in the economy continues to erode, with expectations of a recession growing and a solid majority of Americans now saying the economy is doing poorly, according to a Bloomberg/Los Angeles Times survey.
The growing pessimism is being driven by higher energy costs, the weakening dollar and fallout from the subprime mortgage crisis. To stem foreclosures, most Americans want the government to require lenders to freeze interest rates on (...) -
Afghanistan Cannabis Crop Up 40 Percent
28 November 2007 par (Open-Publishing)
Cannabis cultivation rose 40 percent in Afghanistan this year, to 173,000 acres from 123,550 in 2006, the U.N. Office on Drugs and Crime estimated in its 2007 opium survey. The crop is being grown in at least 18 of Afghanistan’s 34 provinces, according to the survey released last month. The U.N. report singles out Balkh as a "leading example" of an opium-free province, saying other areas should follow "the model of this northern region where leadership, incentives and security have led (...)
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Chavez in Tehran: "Empire of dollar is crashing"
20 November 2007 par (Open-Publishing)
Chavez in Tehran: "Empire of dollar is crashing"
Reuters – November 19, 2007
Venezuelan President Hugo Chavez said on Monday the "empire of the dollar is crashing", a day after his country and anti-U.S. ally Iran advocated action over the weakening U.S. currency during an OPEC summit in Riyadh.
Chavez, who on Saturday said oil prices could double to $200 per barrel if the United States attacks Iran over its disputed atomic ambitions, spoke to reporters after talks with his Iranian (...)