Saturday, January 30, 2010

$3.8 Trillion Budget; JP Morgan v. Goldman Sachs

From Jenna Orkin

Quote of the day:

"It is interesting to contemplate an entangled bank, clothed with many plants of many kinds, with birds singing on the bushes, with various insects flitting about, and with worms crawling through the damp earth, and to reflect that these elaborately constructed forms, so different from each other, and dependent on each other in so complex a manner, have all been produced by laws acting around us." - Charles Darwin, On the Origin of Species by Means of Natural Selection

Economy
Obama to propose $3.8 trillion 2011 budget: report
The Battle of the Titans: JPMorgan vs. Goldman Sachs
Recall this: Goldman Ousts JPMorgan as World's Best Broker as Speed Shakes Up Trading
China warns U.S. Taiwan arms sales threaten cooperation
European Parliament to Reject Bank Data Agreement with US
Secret Banking Cabal Emerges From AIG Shadows (from Vantage Point who comments:)
The real news here is where this article was published.
We Are So Screwed
So, How Do You Think This Movie Will End? (From Rice Farmer)
Interview with James Galbraith
Signs Of The Apocalypse: Large Multinationals Layoff Over 60,000 In January (from Vantage Point)
Top African Banker Defends Investment from China
Paulson: Crazy Putin Pushed China To Dump Fannie Bonds And Crush The U.S. Financial System (from Rice Farmer)
British Airways heading for a £1bn loss
In what could be its worst financial year ever, the airline is facing losses 50% greater than it suffered in 2008
South Korea poised to be among top economies
H.W. Bush visits Obama at White House

US Benevolence
Doctor: Haitians will die without U.S. airlifts
U.S. suspends medical evacuations from Haiti
Call for breast milk donations in Haiti goes bust
Snappy headline.
Desperation, no violence seen in Haiti
Desperate Haitians offer children for good homes
Haiti has sunk to 'below zero' - UN
Haiti's 'Little hospital that could'

Intelligence/War/Canada
Seized North Korea arms were bound for Iran: Thailand
U.S. speeds up arms buildup with Gulf allies
Survey of Executives Finds a Growing Fear of Cyberattacks
“Remarkably, two-fifths of these I.T. executives expected a major cybersecurity incident (one causing an outage of ‘at least 24 hours, loss of life or ... failure of a company’) in their sector within the next year,” the report said. “All but 20 percent expected such an incident within five years."
'We Are Prepared to Cooperate'
Russia says it will support the West in Aghanistan, but it is also pleading for a more energetic fight against drugs. Dmitry Rogozin, Moscow's ambassador to NATO, tells SPIEGEL ONLINE why Russia feels the threat of Afghan heroin is greater than the one posed by the Taliban.
China bugs and burgles Britain, MI5 says
Gangster used Facebook to run empire from jail
America's Secret Afghan Prisons (from Vantage Point) Senate OKs sanctions on Iran (from Vantage Point)
Al Qaeda Behind Recent Bombing in Afghan Capital
NORAD Not Ruling Out Force at Olympics (Canadian links from Lisa)
Terrorist Who Plotted To Kill Canadian PM Walks Away Free
Public Spending on Tickets Under Scrutiny
As Olympics Near, People in Vancouver Are Dreading Games
Military Guarding Against Terror Attack at Vancouver Olympics (archive)
Canada's DNA data bank samples surge (from Rice Farmer)
Canadians Are Losers in Move To Prorogue Parliament for Games
Olympics a Smokescreen for Cancelled Surgeries: BC NDP
Airport Style Security at Olympics
BC's Privacy Office Frozen, Leaked Letter Says

Science/Health
Rabies outbreak in Central Park
Depletion of Key Resources: Facts at Your Fingertips (From Rice Farmer who comments: 'or, "Why you are going to need a heckuva lot more than a victory garden to get by")
World Nuclear Power 2009-2014 (from Jon Noel)
China denies miscarriages linked to swine flu jab

8 comments:

eyeballs said...

I doubt there's a major rift in the financial elite, between JP Morgan and Goldman Sachs. If Goldman's microtrading and other empowering practices are giving it unfair advantage over Morgan, some balance of power deal may be in the works. It's in the interest of the existing oligarchy to not shrink its membership too dramatically, too fast.

But this does not mean that Volker is really trying to knock Geithner off his horse and crash Goldman. These guys are all performers (admittedly intelligent and informed in their own right) misrepresenting the real business of financial regulation -- which has nothing to do with giving "the market" (in the sense of small investors) an even break.

If we were seeking some rift in the Dark Powers, which we could exploit to empower the rest of us, I doubt this would qualify.

Jeff said...

This is a good article in the NYT,those not believing in the "collective" may want to check it out.
http://www.nytimes.com/2010/01/31/magazine/31ecopsych-t.html?hpw

hyperlocavore.com said...

Just saw Collapse... Hoping Mr Ruppert is doing ok.

I wanted to let you know about what were doing. please visit hyperlocavore.com - we are trying to build lifeboats at the neighborhood level...

be well and thank you.

gamedog said...

I find it striking the Davos shpeel talks about a "new peak" in oil supply, but goes on to say...

"Mr Hayward’s comments were supported by Peter Voser, the chief executive of Shell, who said that the industry would have to find up to $27trn of investment over the next 20 years to meet demand."

Thats $1.35trn per year, for 20 years just to tread water - as if even treading water were possible!

Is it not plainly obvious supply will never meet demand ever again, unless demand is continually crippled.
********************

on that JPMorgan vs. Goldman Sachs: piece - when I read it at Ellen Browns "web of debt" site, I felt sure the next days US headline should have been "smackdown". The "battle of the titans" argument has about as much credibility as wrestling too LOL

********************

Stu - I'd say pay off all debt first, then invest in "homesteading stuff" & food/water storage, then invest in practical skills (permaculture/workshop/DIY)
Think about buying some land for food production, insulation/woodstove for the house etc. If you still have a substantial sum left, I'd say 1/3 cash, 1/3 guilts, 1/3 PM (physical not paper) but skills & preps are your best hedge IMO. HTH. Do you read George Ure's "urbansurvival" site? A lot of personal financial protection stuff is covered from someone who "gets it", I find the subscription articles well worth the $40 per year and thats from someone in the UK, even tho most of his advice is US centric, the site archive would answer most of your questions IMO.

gaelicgirl said...

Lovely quote, Jenna!

Jeff said...

The groundwork and propaganda for Iran is gaining speed.
http://www.msnbc.msn.com/id/35161735/ns/world_news-washington_post/

tony said...

Why Soros Is Probably Buying Gold Now
http://seekingalpha.com/article/185447-why-soros-is-probably-buying-gold-now?source=email

v said...

Review shows dramatic shift in Pentagon's war strategy

AHMADINEJAD: 'Iran will deliver telling blow to global powers on Feb. 11'...

Royal Dutch Shell shuts 3 oil stations in Nigeria's Niger Delta after confirming leak was caused by sabotage

GrTz,

V