Get Far Away From USA … Its Collapse Will Be Messy: Jeff Berwick (Nervous Nelly)
The Dollar Vigilante’s Jeff Berwick is back chatting about a myriad of economic and stock market-related issues with Cambridge House Live’s anchor, Bridgitte Anderson.
US judge orders Google to turn over data to FBI (Arthur Robey)
The judge put the Google ruling on hold until the 9th U.S. Circuit Court of Appeals can decide the matter. Until then, she said, the company would have to comply with the letters unless it shows the FBI didn’t follow proper procedures in making its demands for customer data in the 19 letters Google is challenging.
But the agency’s record is a little spottier when it comes to the other two key pieces of legislation, the Investment Advisers Act of 1940 and theInvestment Company Act of 1940. These are the agency’s main tools for prosecuting fraud and malfeasance involving people who manage other people’s money – mutual funds, hedge funds, investment managers. Somebody like Bernie Madoff, who took billions from investors and simply stole the money instead of investing, would largely be regulated under the latter two acts.
The High Cost Of Unemployment (jdargis)
Unemployment is a product of capitalism: People who are no longer needed are simply made redundant. On the traditional family farm, there was no unemployment. Austerity exposes the modern economy’s lack of interpersonal connectedness and the morale costs that this implies.
For the moment, though, there is little prospect of major additional stimulus. The central bank remains reluctant to undertake more radical measures like those used by the Federal Reserve in the United States or the Bank of England. The E.C.B. benchmark interest rate is already at a record low of 0.5 percent, and it is unlikely that a further cut would do much to relieve a credit squeeze in countries like Italy.
Main Street in Henryetta was a swift-moving river on Saturday morning, with water rising to the tops of the tires of stranded cars, setting garbage cans and other debris afloat and seeping into a Walmart store, gas stations and other businesses.
By all accounts, oilmen and farmers — often shortened to “oil and ag” here — have coexisted peacefully for decades in this conservative, business friendly part of California about 110 miles northwest of Los Angeles. But oil’s push into new areas and its increasing reliance on fracking, which uses vast amounts of water and chemicals that critics say could contaminate groundwater, are testing that relationship and complicating the continuing debate over how to regulate fracking in California.
Gold & Silver
Provided daily by the Peak Prosperity Gold & Silver Group
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