whatever it takes
Archive for January, 2008
Global Economic Crisis Unfolding
Jan 22nd
As I am writing this, there is an economic bloodbath in the Asian stock markets as a result of the plunge yesterday in the US markets. One of the most troubling developments is the impending demise of the two main Bond Insurers, Ambac and MBIA. These two companies underwrite a large number of corporate and municipal bonds in the US market.
Just last Friday, Ambac lost its AAA rating, and it is expected that there will be further downward adjustments. In short, this will mean a loss of about $45 trillion in value in the credit derivative market in the coming days. Read the story here and do what you can to protect yourself from the coming collapse.
Kucinich Demands Recount in New Hampshire
Jan 12th
Democratic presidential candidate Dennis Kucinich has sent a letter to the New Hampshire Secretary of State demanding a hand recount of all of the votes cast in the state’s primary. It seems that only 20% of the votes were counted manually, with the remaining 80% being tallied by the Diebold voting machines that were used. It seems that the results from the 20% that were hand-counted agreed with the exit polls, while the 80% differed considerably. Kucinich cites the need for voter confidence to be restored in the election process as his reason for making the request. Read the full article here.