Archive for February, 2009

UK & World News: Home repossessions hit 12-year high (icNewcastle - Sunday Sun)
The human cost of the recession has been made clearer after figures showed a 54% jump in the number of people who lost their homes last year.

Iraq snapshot
Friday, February 13, 2009. Chaos and violence continue, Thomas E. Ricks tries to drag Americans to the grown ups table (no word on how successful the attempt was), Blackwater changes its name, at least 40 dead from a single bombing, and more. Today Alan Gomez ( USA Today ) reports Maj Gen Michael Oates declaring he has no idea why US troops are in southern Iraq and “that he believes recent security gains there are permanent — and that some of his troops are openly wondering why they’re

Banking’s Systemic Subprime Subterfuge
By Guest Author Nicholas Windrum We have always recognised that banks have to be trustworthy for the system of money to be able to function at all. This is because the banks completely control everything that happens, or can happen to money - how reliable it is and how freely it moves from person to person. Every time money moves from one person to another, it creates something useful and valuable: real wealth of some sort and employment, enabling workers to use their wages to eat and hou

New Labour Lies:Economic boom & bust under Gordon.
Ever wondered quite how we ended up in the mess we are in? Well Gordon knows and he is keeping quiet about the facts, oh yes he is blaming “global economics” or saying “it started in America”. Every time he speaks its another soundbite excuse. For years he has ignored so called real jobs instead focusing on the “Guardian” type public sector jobs, just the sort of thing any centre orientated state run, top down society needs. That’s jobs created and paid for from tax revenues. Instead

Metal, realty shares help Sensex reverse two-day losing streak
Key benchmark indices, reversed two-day falling trend, on buying in metal, realty and capital goods shares. However, profit taking capped gains. The BSE Sensex rose 168.91 points or 1.78%, off 60.85 points from the day’s high. Expectations of further rate cuts by the central bank and hopes of stimulus package for the economy in the interim general budget on Monday, 16 February 2009, lifted the bourses. Strong global cues further bolstered the sentiment.There expectations of a government stimulus

UK home repossessions hit 12-year high in ‘08 (Khaleej Times)
LONDON - The number of home repossessions in Britain leapt by half in the three months to December compared with the same period in 2007, taking the total for 2008 to the highest since 1996, the Council of Mortgage Lenders said.

(AFX UK Focus) 2009-02-18 17:20 TEXT-Obama speech on home mortgage crisis (Interactive Investor)
Feb 18 (Reuters) - The following is the full text of President Barack Obama’s speech on his plan to combat the U.S. home mortgage crisis as prepared for delivery at 12:15 EST/1715 GMT. “I’m here today to talk about a crisis unlike any we’ve ever known — but one that you know very well here in Mesa, and throughout the Valley. In Phoenix and its surrounding suburbs, the American Dream is being …