Robert Fisk: The true story of free speech in America
Sami al-Arian is 49 but he stayed on hunger strike for 60 days to protest the government outrage committed against him, a burlesque of justice which has, of course, largely failed to rouse the sleeping dogs of American journalism in New York, Washington and Los Angeles.
All praise, then, to the journalist John Sugg from Tampa, Florida, who has been cataloguing al-Arian's little Golgotha for months, along with Alexander Cockburn of Counter Punch.
Spend twenty minutes per week browsing Investment Tools and you will be better informed than most financial experts!
Sunday, April 08, 2007
Saturday, April 07, 2007
Conservatives for the Constitution
Rejecting the suggestion that conservatives must remain silent because Bush is supposedly one of their own, Viguerie says, "Conservatives must not fail to oppose the massive expansion of presidential powers out of fear they will be aid and comfort to the Left. Concern about one branch of government acquiring excessive power should not be the providence of liberals, moderates, or conservatives. It must be the concern of all Americans who value liberty…"
Representatives okay Real ID ban Supporters of the ban said New Hampshire needs to send a clear statement that the federal government strayed too far.
"It is probably the worst piece of blackmail to come out of the federal government. This is pure, unadulterated blackmail," said. Rep. Sherman Packard, a Republican from Londonderry.
Friday, April 06, 2007
Quick Overview
- U.S. Unemployment rate improved from 4.5% to 4.4% in March with a net gain of 180,000 jobs, better than expected.
- U.S. Average hourly earnings were up 0.3% in March and up 4.0% YoY.
Climate change
The resulting document predicts the same sorts of consequences as its predecessor did in 2001, but with much greater confidence and precision, says Camille Parmesan, a professor at the University of Texas who vetted part of it. By her count, the chapter on current impacts alone rests on a review of over 1,000 academic studies, most of them already published—compared with about 100 last time around.
The resulting document predicts the same sorts of consequences as its predecessor did in 2001, but with much greater confidence and precision, says Camille Parmesan, a professor at the University of Texas who vetted part of it. By her count, the chapter on current impacts alone rests on a review of over 1,000 academic studies, most of them already published—compared with about 100 last time around.
Thursday, April 05, 2007
Quick Overview
- China today raised its reserve ratio by 0.5 points to 10.5%, which was the sixth hike in less than a year.
- The U.S. Labor Department said that jobless claims were up 11,000 last week to 321,000.
- The unemployment rate in Canada was unchanged at 6.1%.
- The Bank of England keep the interest rate unchanged at 5.25%.
- The U.S. Department of Energy said underground supplies of natural gas were up 58 billion cubic feet at 1.569 trillion cubic feet. Supplies are down 7% YoY.
Wednesday, April 04, 2007
Quick Overview
- The Institute of Supply Management's index of U.S. services dropped from 54.3 to 52.4 in March.
- Factory orders rose 1% in February following the biggest drop in six years, the Commerce Department said Wednesday
- An index of services in the U.K. increased from 57.4 to 57.6 in February, a sign of continued expansion.
- Eurostat said that retail trade volume in the Euro area was up 1.2% YoY.
- The U.S. Department of Energy (DOE) said that:
Supplies of crude oil were up 4.3 million barrels last week at 332.7 million barrels.
Supplies of gasoline were down 5.0 million barrels
Supplies of heating oil were down 200,000 barrels.
YoY gasoline demand was up 1.7% and distillate demand was down 1.9% YoY.
- GFMS Ltd. said world gold mine production was down 3% in 06, the lowest level in ten years.
Tuesday, April 03, 2007
The botched US raid that led to the hostage crisis
A failed American attempt to abduct two senior Iranian security officers on an official visit to northern Iraq was the starting pistol for a crisis that 10 weeks later led to Iranians seizing 15 British sailors and Marines.
Quick Overview
- The National Association of Realtors said U.S. pending home sales increased from 108.5 to 109.3 in February, more than expected.
- Industrial consumption of silver, used in film, batteries and medical devices, grew 11 percent to a record 409.3 million ounces in 2005, GFMS Ltd. said.
- Arrivals of cocoa beans from the Ivory Coast's, were around 920,500 metric tons, down by 2.3% between Oct. 1 and March 31.
Monday, April 02, 2007
Quick Overview
- Federal Reserve Bank of St. Louis President William Poole said the U.S. central bank's main concern remains inflation and he could be inclined to raise interest rates if price pressures did not ease.
- New Century Financial Corp. filed for bankruptcy Monday amid a surge in homeowner defaults, the biggest mortgage lender to collapse in the U.S. housing market.
- The Supreme Court Monday ordered the federal government to take a new look at regulating carbon dioxide emissions from vehicles, in a rebuke to the Bush administration’s policy on global warming, the Associated Press reported.
- The Institute of Supply Management's index of manufacturing dropped from 52.3 to 50.9 in March, slightly weaker than expected.
- Australia's retail sales were up 0.9% in February, better than expected.
- Japan's index of business sentiment, dropped 25 in December to 23 in March.
- Manufacturing index in the U.K. fell from 55.4 to 54.4 in March, more than expected.
- The USDA' said rain is badly needed in most Florida OJ areas.
Friday, March 30, 2007
Quick Overview
- U.S. Personal income was up 0.6% in February and U.S. consumer spending rose 0.6%.
U.S. Core rate of personal consumption expenditures rose 0.3% in February and 2.4% YoY.
The University of Michigan's consumer sentiment index fell from 91.3 to 88.4 MoM.
The Chicago purchasing managers index rose from 47.9 to 61.7 MoM, more than expected.
U.S. Construction spending rose 0.3% MoM.
The U.S. said it will impose duties on imports of coated paper from China, raising fears of protectionism.
- Japans unemployment rate was 4.0% in February, the lowest in over eight years.
Japans household spending in Japan was up 1.3% in February, stronger than expected.
Japans Industrial production was down 0.2% in February, stronger than expected.
YoY Japans consumer prices were down 0.2% in February.
- Canada's real GDP increased 0.1% in January and 2.0% YoY.
Canada’s Industrial Product Price was up 4.4% YoY.
- Inflation in the euro 13 region will probably reach 1.9 percent in March, the European Union said Friday.
The unemployment rate in the Euro area fell from 7.4% to 7.3% in February.
Business sentiment in the Euro area rose from 109.7 to 111.2 MoM.
- The unemployment rate in France fell from 8.5% to 8.4% MoM, the lowest in 24 years.
- GDP in New Zealand rose 1.5% YoY.
- India's central bank raised interest rates to 7.75%.
- The USDA's Prospective Plantings report expects:
90.45 million acres of corn planted this spring, up from 78.3 million acres a year ago. (The biggest corn plantings since 1944) (est. 87.98)
67.14 million acres of soybeans, down from 75.5 million acres a year ago. (est. 69.17)
60.30 million acres of wheat, up from 57.3 million acres a year ago.
12.15 million acres of cotton, down from 15.27 million acres a year ago.
- The USDA said that on March 1, 07 there were:
6.07 billion bushels of corn stocks, down 13% YoY.
1.78 billion bushels of soybean stocks, up 7% YoY.
856 million bushels of wheat stocks, down 12% YoY.
Tuesday, March 27, 2007
Quick Overview
- The Conference Board index of U.S. consumer confidence dropped from 111.2 to 107.2 in March, weaker than expected.
- German business confidence rose from 107.0 to 107.7 in March, stronger than expected.
- The U.S. military denied reports that Iran fired a missile at a U.S. ship in the Persian Gulf. The rumors sent oil prices up more than 8 percent in after-hours trading.
Monday, March 26, 2007
Quick Overview
- U.S. New home sales were weaker than expected down 3.9% from January's pace. This # is dimming hopes for a rebound in the housing market and increasing worries about the health of the economy
Thursday, March 22, 2007
Quick Overview
- U.S. Leading indicators were down 0.5% in February, six of ten indicators showing a decline.
- U.K. Retail sales were up 1.4% in February, more than expected and the biggest jump in two years after
- The Fed said its holdings of Treasury and agency debt kept for overseas central banks rose $10.79 billion in the week ended March 21, to $1.882 trillion.
- Japans land prices increased 0.1% in 2006, the first increase in 16 years. Commercial land prices increased 2.3% and land in metropolitan areas increased more.
- The USDA said there were 483.6 million pounds of frozen pork in storage on February 28, 2007, down 8% YoY.
- The USDA said there were 732 million pounds of frozen orange juice concentrate in U.S. cold storage, down 32% YoY.
- The U.S. Department of Energy said that underground supplies of natural gas were up 17 billion cubic feet last week at 1.533 trillion cubic feet.
Wednesday, March 21, 2007
Agrifood Giant Nearly Rivals Carmakers On Emissions
Producing one kilo of cut veal produces as much greenhouse gas emissions as travelling 220 kilometres (137 miles) by car. However, meat from non ruminants turns out to be more environmentally friendly. One kilo of pork is equivalent to a car journey of just 20 kilometres, while a kilogramme of chicken is worth just 10 kilometres.
Quick Overview
- The Federal Reserve kept the federal funds rate unchanged at 5.25%.
- The Mortgage Bankers Association said its index of mortgage application dropped 2.7% to 672.1.
- The U.S. Department of Energy (DOE) said that:
Supplies of crude oil were up 4.0 million barrels last week to 329.3 million barrels.
Supplies of gasoline were down 3.4 million barrels
Supplies of heating oil were down 300,000 barrels.
YoY Gasoline demand was up 2.1%
YoY distillate demand was up 3.0%.
Tuesday, March 20, 2007
Quick Overview
Monday, March 19, 2007
Chart of the day
The Percent of ETF's (Exchange Traded Funds) on our list of 317 funds that are up in the last 20 days.
The Percent of ETF's (Exchange Traded Funds) on our list of 317 funds that are up in the last 20 days.
Quick Overview
- The National Association of Home Builders index of homebuilders' sentiment dropped from 39 to 36 in March.
- China's central bank raised it's one year lending rate 0.27% to 6.39% Sunday, the 3rd hike in 11 months.
- (AP)--The Yangtze River gets more than half of China's industrial waste and sewage. Europe's Danube has lost most of its surrounding wetlands. And the Rio Grande has become so shallow that salt water is seeping in, bringing ocean fish that threaten freshwater species.
Saturday, March 17, 2007
Quick Overview
- YoY U.S. consumer prices rose 2.4% in February, more than expected.
- The U.S. Federal Reserve said that industrial output increased 1.0% in February, the biggest monthly gain in over a year.
- The University of Michigan's consumer sentiment index dropped from 91.3 to 88.8 in March, a six month low.
- Informa estimates 2007-08 U.S. planted corn acreage at 87.834 million acres, above last year's 78.3 million acres.
Thursday, March 15, 2007
Quick Overview
- The producer price index rose 1.3% in February, while the core rate rose 0.4%, the Labor Department reported.
- The U.S. Treasury said that foreign investors bought $115.0 billion of U.S. securities in January while U.S. investors bought $17.6 billion of foreign securities.
- The New York Federal Reserve's index of manufacturing dropped from 24.4 to 1.9 in March.
- The Philadelphia Federal Reserve's regional index of manufacturing dropped from 0.6 to 0.2 in March.
- ExFederal Reserve Chairman Alan Greenspan said on Thursday there was a risk that rising defaults in subprime mortgage markets could spill over into other economic sectors.
- Australia's unemployment rate increased from 4.5% to 4.6% in February.
- YoY Consumer prices in the Euro area were up 1.8% in February
- The Swiss National Bank increased its key interest rate from 2.00% to 2.25%.
Wednesday, March 14, 2007
Quick Overview
- The Mortgage Bankers Association said that its index of mortgage application increased 2.8% last week, the highest level this year.
- Consumer confidence in Australia increased to 115.5 in March, the highest score in over a year.
- YoY China's retail sales in the first two months rose a strong 14.7 %.
- Industrial production in the Euro area was down 0.2% in January and up 3.7% YoY.
- Asian soybean rust was found in a bin of soybeans that came from southeast Iowa last fall.
- The U.S. Energy Department (DOE) said that:
Supplies of crude oil supplies were up 1.1 million barrels to 325.3 million barrels.
Supplies of gasoline were down 2.5 million barrels.
Supplies of heating oil were down 2.1 million barrels.
Gasoline demand was up 2.8% YoY.
Distillate demand was up 5.5% YoY.
- The Shanghai Futures Exchange is set to start zinc trading later this month.
- The Brazilian government may boost the amount of ethanol it blends with gasoline to 25%.
Tuesday, March 13, 2007
Quick Overview
- U.S. Retail sales rose 0.1% in February, the Commerce Department reported Tuesday.
- The International Coffee Organization increased its estimate of the 2007-2008 world coffee crop from 110.5 to 112.0 million bags. It reduced its estimate of 2007 world consumption from 118 to 117.5 million bags.
- YoY China's consumer prices were up 2.7% in February.
- Question marks continue to hang over the US mortgage market. The Securities & Exchange Commission is investigating troubled subprime mortgage lender New Century, the firm has revealed.
- Special Report: Phantom Shares
Bloomberg Television premieres a half hour Special Report called "Phantom Shares" on Tuesday, March 13, 2007 at 7:00pm, 9:00pm, and 10:00pm ET.
Monday, March 12, 2007
Quick Overview
Japan changed its economic growth figures for the fourth quarter to an annual pace of 5.5 %, the strongest growth in three years.
U.S. Senator John Thune, R-S.D., has urged federal officials to consider a proposal for using a 20% blend of ethanol in vehicles.
The U.S. government posted at $120 billion deficit in February, slightly larger than the deficit a year ago. For the first five months of the new fiscal year, the deficit is $162.2 billion, down 25% YoY.
U.S. Senator John Thune, R-S.D., has urged federal officials to consider a proposal for using a 20% blend of ethanol in vehicles.
The U.S. government posted at $120 billion deficit in February, slightly larger than the deficit a year ago. For the first five months of the new fiscal year, the deficit is $162.2 billion, down 25% YoY.
Thursday, March 08, 2007
The Coming Entitlement Meltdown
The National Taxpayers Union reports that Medicare will consume nearly 40% of the nation's GDP after several decades because of the new drug benefit. That's not 40% of federal revenues, or 40% of federal spending, but rather 40 % of the nation's entire private sector output!
Quick Overview
- Japans machinery orders rose 3.9 percent.
- U.S. Initial jobless claims fell by 10,000 last week, following the previous week’s gain to a 14-month high, the Labor Department said Thursday.
- The European Central Bank raised its interest rate from 3.50% to 3.75%.
The European Central Bank expects real GDP growth of 2.5% in 2007 and 2.4% in 2008.
- The Bank of England left its interest rate unchanged at 5.25%.
- Available power reserve margins may fall below required levels in four to six U.S. regions by 2009, Merrill Lynch analyst Elizabeth Parrella wrote in a recent research report.
Wednesday, March 07, 2007
Quick Overview
- The Federal Reserve said consumer credit increased at an annual rate of 3.2% in January to $2.41 trillion.
- Australia's GDP rose 1.0% QoQ, and 2.8% YoY.
- The U.S. Department of Energy said that:
Supplies of crude oil were down 4.8 million barrels last week,
Supplies of gasoline were down 3.8 million barrels
Supplies of heating oil were down 1.5 million barrels.
Gasoline demand was up 3.3% YoY
Distillate demand was up 7.8% YoY
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