Federal Reserve Economists Warn About Municipal Bond Market

Posted on by Freedomwat.ch Staff

“Although not coming out with a full warning about the municipal bond market, some New York Fed economists come pretty close to warning just that. It’s probably as far as these economists could go without getting fired. What’s most intriguing is that these economists show the graph which displays that 75% of municipal bonds are held either directly or through muni bond funds by individuals. Could they be suggesting that if muni defaults pick up there could be a run out of the muni bond market?”

http://www.economicpolicyjournal.com/2012/08/federal-reserve-economists-warn-about.html

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Laffer: The Real ‘Stimulus’ Record

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Policy makers in Washington and other capitals around the world are debating whether to implement another round of stimulus spending to combat high unemployment and sputtering growth rates. But before they leap, they should take a good hard look at how that worked the first time around. It worked miserably, as indicated by the table nearby, which shows increases in government spending from 2007 to 2009 and subsequent changes in GDP growth rates. Of the 34 OECD nations, those with the largest spending spurts from 2007 to 2009 saw the least growth in GDP rates before and after the stimulus.”

http://online.wsj.com/article/SB10000872396390444873204577537244225685010.html

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Britain on course for more economic stimulus

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“Minutes from the BoE’s meeting at the start of August revealed that all of its nine policymakers voted to keep the central bank’s main interest rate at a record-low 0.50 percent. They also voted unanimously to keep the central bank’s quantitative easing (QE) cash stimulus programme at a level of £375 billion ($584 billion, 476 billion euros).”

http://www.rawstory.com/rs/2012/08/15/britain-on-course-for-more-economic-stimulus/

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The World’s Richest Country

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“Yet another wealth report has put tiny Singapore on the top of its charts – this time, as the wealthiest nation in the world by GDP per capita, beating out Norway, the U.S., Hong Kong and Switzerland. The report also predicts that Singapore will hold its place as the world’s most affluent country in 2050 (by GDP per capita), followed closely by Hong Kong, Taiwan and South Korea who will displace Norway and Switzerland as the world’s richest places. Singapore will see a 67% increase in centa-millionaires over the next four years – an über-wealthy class with over US$100 million in disposable wealth.”

http://blogs.wsj.com/searealtime/2012/08/15/singapore-home-to-the-worlds-richest-people/

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Asian economies most at risk for natural disaster crisis

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“The list is headed by Bangladesh and the Philippines, which along with Myanmar are considered to be at ‘extreme’ risk. Only one other country, the Caribbean state of Dominican Republic, falls into this category. The other countries in the top 10 were India, Vietnam, Honduras, Laos, Haiti and Nicaragua. The ‘Natural Hazards Risk Atlas’ looks at the impact of natural disasters on a country relative to its economy, taking into account preparedness to deal with such events and social ability to rebound. If a country’s infrastructure is weak and its governance is poor, the economic consequences are that much greater.” [Kleptocracy is the common factor]

http://www.rawstory.com/rs/2012/08/15/research-asian-economies-most-at-risk-for-natural-disaster-crisis/

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U.S. Postal Service loses $5.2 billion, warns of low cash

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“The U.S. Postal Service’s net loss widened to $5.2 billion during the April through June period, and the cash-strapped agency warned on Thursday that without help from the U.S. Congress it will face low cash and be unable to borrow money this fall. The mail agency defaulted last week on a legally required $5.5 billion payment for future retiree health benefits, and its inspector general said the Postal Service could face a $100 million cash shortfall in mid-October. Officials called on Congress to pass postal legislation that would overhaul the mail agency’s business model and offer some relief from its dire financial situation.”

http://news.yahoo.com/u-postal-loses-5-2-billion-warns-low-144822348–sector.html

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Indian rail is world’s largest ‘open toilet’

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“A top Indian minister has proposed projects worth $130 million project to rid India of the scourge of open defecation and clean up a rail system he described as the world’s ‘largest open toilet’. Rural Development Minister Jairam Ramesh said that India, where 130 million households are without a latrine, accounted for 60 percent of the global volume of open defecation. He proposed a 5.0 billion rupee project to replace the open-hole toilets on the 50,000 coaches that ply India’s vast railway network with bio-toilets over the next five years.” [If you really want to destroy something useful, put the government in charge of it.]

http://www.rawstory.com/rs/2012/07/27/indian-rail-is-worlds-largest-open-toilet/

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Powerless and clueless: 684 million Indians without power

Posted on by Freedomwat.ch Staff

“It was a Terrible Tuesday that 684 million Indians are not going to forget in a hurry. In the world’s biggest blackout that affected one-tenth of the global population, 21 states and Union Territories went on the blink after three arterial power lines collapsed at 1 pm. Who triggered the collapse? Fingers were pointed at Uttar Pradesh, Haryana and Punjab for overdrawing power. All three states stoutly denied the charge. PowerGrid chairman A M Nayak could not give a reason for Tuesday’s grid collapse.” [If you really want to destroy something useful, put the government in charge of it.]

http://articles.timesofindia.indiatimes.com/2012-08-01/india/32980528_1_grid-collapse-north-eastern-grids-outage

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Zimbabwe power cuts to persist for 10 years

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“Energy-starved Zimbabwe will suffer longer and more frequent power shortages for the next 10 years, a senior official said Friday. The country’s power utility will extend blackouts until it can boost capacity. Due to ageing equipment, power generation is often disrupted following breakdowns. In most cases, the generators operate below capacity. In recent months, Zimbabwe could only afford to import 25 megawatts from nearby countries after major electricity suppliers in the region turned off the switches over non-payment of dues.” [If you really want to destroy something useful, put the government in charge of it.]

http://news.yahoo.com/zimbabwe-power-cuts-persist-10-years-official-131032119.html

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Canadians among top buyers, sellers on Silk Road, the new eBay for illegal drugs

Posted on by Freedomwat.ch Staff

“The currency used on the site is called Bitcoin — a digital currency that makes it nearly impossible for authorities to follow the money trail. One Bitcoin currently converts to just over C$11. Christin suggested in his study that destabilizing the digital currency may be one of the only ways to take down the website. ‘It’s the only currency that is used there and it’s already fairly volatile,’ he said. ‘This is the type of thing that could potentially be an impediment to transactions taking place on the Silk Road.'” [Sorry, boys, but such coup d’état & financial manipulation tactics are so 20th Century…]

http://www.montrealgazette.com/news/national/Canadians+among+buyers+sellers+Silk+Road+eBay+illegal+drugs/7095668/story.html

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The Freedom Watch

International Intelligence for the Resistance

Monthly Archives: August 2012

Federal Reserve Economists Warn About Municipal Bond Market

Laffer: The Real ‘Stimulus’ Record

Britain on course for more economic stimulus

The World’s Richest Country

Asian economies most at risk for natural disaster crisis

U.S. Postal Service loses $5.2 billion, warns of low cash

Indian rail is world’s largest ‘open toilet’

Powerless and clueless: 684 million Indians without power

Zimbabwe power cuts to persist for 10 years

Canadians among top buyers, sellers on Silk Road, the new eBay for illegal drugs