The moratorium, which we now expect to continue because of Obama political calculus, will cost up to 200,000 higher-paying jobs in the oil drilling and oil service business and that the employment multiplier of 4.7 will put the total job loss at...
The information disclosed this week "indicates BP operated unsafely and failed to monitor and react to several critical warning signs during the drilling" the statement continued. "BP's behavior and actions likely represent gross negligence or...
BP's out-of-control well will go on spewing oil into the Gulf of Mexico for the next two years or more if all attempts to contain or plug the gusher fail, oil industry experts said today.
California’s fiscal hole is now so large that the state would have to liberate 168,000 prison inmates and permanently shutter 240 university and community college campuses to balance its budget in the fiscal year that begins July 1.
The economic downturn in the US is discussed with reference to the excessive debt and deficit spending and how that will affect the long term economic outlook.
I Refuse To Be Counted - Government Is Not Your Savior, Andrew Napolitano - Government Is a Cancer - The Angry Sea of Bankruptcy - Disrespect for Government - Why I Gave Up My US Citizenship - Harry Browne Was Right (Must be anti-Gov't Day :)
When one looks at the percentage of its market size, the naked short position in silver today is perhaps the largest short position in any precious metal in the history of all commodities.
Gold bullion came just short of its all-time high and U.S. gold futures ran up to their highest close ever on Thursday on both concern over Europe's credit problems and downbeat U.S. data which encouraged a fresh sweep into safe-haven assets.
Stocks were flat yesterday. Gold fell $3. The news was mixed. The big debate is between those who think the authorities are being too tight and those who think they are being too loose. Broadly, Europeans are on one side. Americans are on the other.
Philly Fed drops from 21.4 to 8, worst since August of 2009. Expected at 20. This means that the Fed will soon have its Congress OpCo legalize a) negative interest rates and b) make holding any cash in deposit or money market funds treason.
Stocks rallied yesterday. The Dow rose 213 points. Gold went up too – plus $9. So many people are buying gold coins that the storage vaults are getting crowded, says a Bloomberg report.
By the 22nd of August, 2010 ocean currents will have carried the oil from the Gulf of Mexico to the shores of Virginia. Tampa's desalination plant will be closed, along with many power plants before the end of July.
Latest HYCOM-GFS oilspill forecast shows a large stretch of oil approximately 15 miles south of the Florida Keys, near Marathon and Big Pine Key by this weekend.
More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.
The number: And the number is out at 472,000, which is way too high for comfort.
The magnitude and impact of this disaster will eclipse anything we have known in our life times if the worst or even near worst happens...
Fannie Mae and Freddie Mac ready to be 'Delisted 'from the NYSE Pete Kendall - is co-editor of The Elliott Wave Financial Forecast. www.ElliottWave.com / Scott Horton - www.antiwar.com - http://antiwar.com/radio
Leak estimates have gone from 1,000 barrels a day to 5,000 bbl to 25,000 bbl to 60,000 bbl. While many take this as evidence of a BP coverup, it could also be that the hole is getting bigger.
"So, as this disaster has been increasing in duration and in size, you are seeing an impact now into Mississipi banks, Florida banks, folks that are dependent on revenue out of that particular region."
Credit-rating agencies like Moody's and Standard & Poor's dodged a bullet on Tuesday as lawmakers decided to strip out a provision in the Wall Street reform bill that would have upended their business model.
Simmons refutes even the latest oil spill estimate of 45,000-60,000 barrels per day, and in quoting research by the Thomas Jefferson research vessel which was compiled late on Sunday, quantifies the leak at 120,000 bpd. What is scarier is that...
If this is indeed the case, it means that the amount of oil already having leaked could be as high a 3 million barrels, or 12 times the amount spilled in the Exxon Valdez.
He confidently predicts that the relief well will fail (due to structural problems with the pipe) and that unless we're content with having 100K+ barrels spill each day, then we have no choice to nuke the well.
Emergency planning sources in Florida have informed WMR that the state faces severe fresh water shortages and power blackouts if the thick crude oil from the Deepwater Horizon disaster clogs sea water intakes at the largest desalinisation...
This makes Katrina look like a grade school fire drill. Well I wonder how well they will do this time as they prepare to evacuate entire cities and states. Once the evacuations begin the markets will tank. Once people are forced to grasp what is...
These are all money printing means that will ultimately lead to inflation. It is, ultimately, the only tool the Fed has at its disposal and is a very good reason to own gold...
BP is also fitting out ships to serve as floating hotels that can be moored by imperiled marshes, saving time and sparing workers watery commutes of up to two hours from land. The "flotels" will cost about $200,000 a day to operate...
In his morning note, Gluskin-Sheff's David Rosenberg provides (without too much comment), these two economic growth charts. Note that both are year-over-year charts, so the latest results show growth flagging...
Default, Civil Unrest, WWIII? - Gerald Celente on what he sees ahead. A podcast with Lew Rockwell / The Criminal Legacy of Alan Greenspan - Ryan McMaken on the career of a panderer to power.
Washington, D.C. - House Conference Committee members, which will reconcile the House and Senate versions of the financial reform bill, have been announced. Congressman Paul is pleased to note that 15 out of 31 total conferees are cosponsors of HR 1