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News Link Economy
Jobless data sends stocks reeling
07-02-2009
AP
A dour report on job losses in June sent stocks sharply lower Thursday.
Major stock indexes fell more than 2.6 percent after the government
said the U.S. unemployment rate hit a 26-year high. The Dow Jones
industrials closed at their lowest level in six weeks.
Trading on the New York Stock Exchange was extended until 4:15 p.m.
Eastern time in order to execute customer orders impacted by system
irregularities, an NYSE spokeswoman said.
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Reported by
Powell Gammill
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News Link MEDIA (MainStreamMedia - aka MSM)
WaPo cancels lobbyist event
07-02-2009
Politico
Washington Post
publisher Katharine Weymouth said today she was canceling plans for an
exclusive "salon" at her home where for as much as $250,000, the Post
offered lobbyists and association executives off-the-record access to
"those powerful few" Obama administration officials, members of Congress, and even the papers own reporters and editors.
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Reported by
Powell Gammill
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News Link Criminal Justice System
Judge tentatively acquits convicted woman in MySpace case
07-02-2009
LA Times
A federal judge tentatively threw out the convictions of a
Missouri mother for her role in a MySpace hoax directed at a
13-year-old neighbor girl who ended up committing suicide. If she is to be found guilty of illegally accessing computers, anyone
who has ever violated the social networking site's terms of service
would be guilty of a misdemeanor. That would be unconstitutional, he
said.
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Reported by
Powell Gammill
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News Link Architecture
Sears Tower unveils 103rd floor glass balconies
07-02-2009
AP
Visitors to the Sears Tower's new glass balconies all seem to agree: The first step is the hardest.
The balconies are suspended 1,353 feet in the air and jut out four feet
from the building's 103rd floor Skydeck. Their transparent walls, floor
and ceiling leave visitors with the impression they're floating over
the city.
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Reported by
Powell Gammill
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News Link Techno Gadgets
Tiny New Battery Is Printable
07-02-2009
LiveScience
A new battery, small and thin, weighs almost nothing and can be printed in a process similar to silk-screening shirts.
The printable battery
is expected to be cheap and easy to mass produce and could be used in
disposable receipts or cards, engineers in Germany announced today.
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Reported by
Powell Gammill
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News Link Military
Marines suffer first casualties in Afghan campaign
07-02-2009
AP
U.S. Marines suffered their first casualties
of a massive new military campaign Thursday as they engaged in sporadic
gunbattles along 55 miles of Taliban-controlled heartland in southern
Afghanistan.
One Marine was killed and several others were injured or wounded on the
first full day of the assault, the largest military operation in
Afghanistan since the fall of Taliban government in 2001.
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Reported by
Powell Gammill
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News Link Arizona's Top News
Detective feared for partner's life when he blindly fired into car
07-02-2009
East Valley Tribune
A Mesa detective who shot and killed a 15-year-old girl at the end of a
car chase on May 28, fired his weapon to protect his partner, according
to a police report. The car had heavily tinted windows and Detective Nathan Schlitz fired five to six rounds through the driver's side window.
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Reported by
Powell Gammill
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News Link Economy - International
Keep an eye on Russia's imploding banks
07-02-2009
Telegraph Blog
Russia is sinking into a swamp of bad loans. The scale of credit rot in the Russian banking system exposed by Fitch Ratings this week is truly staggering. The report is yet another cold douche to those betting that the BRICs (Brazil,Russia,India, and China)
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Reported by
Jean Carbonneau
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News Link Economy - International
Mish: Sweden Cuts Deposit Rate to Negative .25%
07-02-2009
Michael Shedlock / Mish
One thing is certain. This is eventually going to blow sky high. Let's hope it does before Bernanke gets the same brilliant idea.
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Reported by
Jack Gregson
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News Link Economy
1.1 Million jobs created since Dec. 1999: Naught for the Naughts?
07-02-2009
CalculatedRiskblog.com
What are the odds that the economy loses another 1.16 million jobs over the next 6 months? Pretty high. That would mean no net jobs added to the economy for the naughts: Naught for the Naughts!
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Reported by
Jack Gregson
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News Link Constitution
Sotomayor v. First Amendment: An Interview with Avery and Lauren Doninger
06-29-2009
Paul Levinson
a podcast interview with the 16-year old (and her mother) whose First Amendment rights were trashed by her school - and by Sotomayor's Appellate Court, which upheld the school's actions
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Reported by
Paul Levinson
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News Link Communications
Chris Matthews an American Idiot? by Jim Ianuzzo
07-02-2009
The Libertarian Solution . com
"Chris Matthews is a shill for the administration. He favors state control over individual choice and thereby fails to understand his immoral position."
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Reported by
Ed Vallejo
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News Link WAR!!!
American soldier feared captured in Afghanistan
07-02-2009
AP
An American soldier, who disappeared after walking off his base in eastern Afghanistan with three Afghan counterparts, is believed captured, officials said today.
Spokeswoman Capt. Elizabeth Mathias said the soldier disappeared Tuesday.
"We
understand him to be have been captured by militant forces. We have all
available resources out there looking for him and hopefully providing
for his safe return," Mathias said.
Read Comments: 1
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Reported by
Powell Gammill
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News Link MEDIA (MainStreamMedia - aka MSM)
WaPo is now WaPimp?
07-02-2009
Political Byline (links to Various)
For $25,000 to $250,000, The Washington Post has offered lobbyists
and association executives off-the-record, nonconfrontational access to
those powerful few: Obama administration officials, members of
Congress, and at first even the papers own reporters and editors.
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Reported by
Chuck Adkins
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News Link Obama Administration
Tonight Obama wheres your Birth Certificate? With Dr. Orly Taitz Tonight live
07-02-2009
Freedom Fighter Radio
Barry Soetoro aka Barack Obama wheres your Birth Certificate? With Dr. Orly Taitz Tonight live on Freedom Fighter Radio.net 9 pm est.
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Reported by
Jim Stachowiak
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News Link Science, Medicine & Technology
Solving the Chalk Mystery
07-2-2009
arclein
In 1984, it was revealed that the North Sea oil field Ekofisk, situated 70 metres below sea level, had subsided by 1-2 metres. This was not the first time in history that a reservoir had compacted as a result of oil and gas extraction.
But the scale of the seabed subsidence was unprecedented. The explanation to this phenomenon lay in the specific rock formation in this particular field. The Ekofisk rock reservoir is mainly made of chalk, as is the neighbouring Valhall field
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Reported by
Robert Klein
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News Link Energy
Saharan Mega Solar
07-2-2009
arclein
The ambitious project, known as Desertec, is expected to cost $555.3 billion. It would generate inexhaustible and affordable quantities of energy across the Mediterranean -- and even on a global scale if necessary.
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Reported by
Robert Klein
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News Link Economy
Nassim Taleb: 'We're in the Middle of a Crash'
07-02-2009
CNBC.com
"What makes me very pessimistic in not seeing any leadership or awareness on parts of government on what has to be done, which is deleverage $40-to-$70 trillion," Taleb said.
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Reported by
Jack Gregson
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News Link Economy
Unemployment Measures; Job Losses (%) Post-WWII Recessions
07-02-2009
Ritholtz.com/blog
These charts provide a little clarity on the unemployment rate.
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Reported by
Jack Gregson
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News Link Economy
California To Begin Issuing IOUs: Gov. Declares Fiscal Emergency
07-02-2009
californiahealthline.org
Gov. Arnold Schwarzenegger (R) now projects the total shortfall at $26.3 billion.
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Reported by
Jack Gregson
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News Link Federal Reserve
Federal Reserve: The Enemy Within!
07-02-2009
Rense.com
"June 26, 2009 Federal Reserve chairman Ben Bernanke unleashed an alarming veiled threat of financial terrorism when he was questioned about Ron Paul's H.R. 1207 bill to audit the Federal Reserve.
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Reported by
Jack Gregson
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News Link Economy
Auto Sales "Remain Ugly" Are Fantastic!
07-02-2009
Ritholtz.com/blog
Chrysler Group 42% decline;
General Motors slipped by 33.4%
Toyota Motor reported a 32% drop;
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Reported by
Jack Gregson
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News Link Housing
Freddie, Fannie Provide 125% LTV Mortgages, Worse Than Subprime Frenzy
07-02-2009
NakedCapitalism.com
Yves here. Huh? This is beyond Orwell, it's patently silly. The intent is to prop up prices by keeping stressed borrowers from selling their houses...
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Reported by
Jack Gregson
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News Link Economy
Non Farm Payroll Data Dissection: Hours worked falls to 45 year low
07-02-2009
Ritholtz.com/blog
Birth Death Adjustment contributed 185k in June 2009 (versus 165k in June 08) Hours worked fell 0.8%, bringing the average workweek down 0.1 hours to 33; This is a record low going back to 1964;
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Reported by
Jack Gregson
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News Link WAR!!!
US Marines launch major offensive in Afghanistan
07-02-2009
AP
Thousands of U.S. Marines poured from helicopters and armored
vehicles into Taliban-controlled villages in southern Afghanistan on
Thursday in the first major operation under President Barack Obama's
strategy to stabilize the country.
The offensive was launched shortly after 1 a.m. Thursday local time
(4:30 p.m. EDT Wednesday, 2030 GMT Wednesday) in Helmand province, a
Taliban stronghold and the world's largest opium poppy-producing area.
The goal is to clear insurgents from the hotly contested region before
the nation's Aug. 20 presidential election.
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Reported by
Powell Gammill
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News Link Economy
467K jobs cut in June; jobless rate at 9.5 percent
07-02-2009
AP
Employers cut a larger-than-expected 467,000 jobs in June, driving the
unemployment rate up to a 26-year high of 9.5 percent, suggesting that
the economy's road to recovery will be bumpy.
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Powell Gammill
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News Link Political Theory
The Dumbing Down of America
07-02-2009
Just a Girl in Short Shorts
Americans are getting dumber and dumber and it is resulting in the misuse, abuse and abdication of political power.
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Reported by
Becky Chandler
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News Link World News
Fuel tax could be replaced with by-the-mile road tax
07-02-2009
McClatchy
The year is 2020 and the gasoline tax is history. In its place you get
a monthly tax bill based on each mile you drove tracked by a Global
Positioning System device in your car and uploaded to a billing center.
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Reported by
Jim Stachowiak
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News Link Bailouts
How a Loophole Benefits GE in Bank Rescue
6/29/09
Washington Post
General Electric, the world's largest industrial company, has quietly become the biggest beneficiary of one of the government's key rescue programs for banks. At the same time, GE has avoided many of the restrictions facing other financial giants getting help from the government.
The company did not initially qualify for the program, under which the government sought to unfreeze credit markets by guaranteeing debt sold by banking firms. But regulators soon loosened the eligibility requirements, in part because of behind-the-scenes appeals from GE.
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Reported by
Anonymous Watchman
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News Link TERRORISM
Pipe bomb blast destroys car in Oregon
07-02-2009
The Creswell Chronicle
A pipe bomb exploded inside a 1990 Geo Storm in Lane County Oregon.
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Reported by
Jim Stachowiak
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