Archive for June 7th, 2010

The IMF has warned euro nations that without more centralised control they risk sinking back into recession. Phillip Inman Guardian.co.uk Monday 7 June 2010 The IMF today accused eurozone governments of relying on “crisis management” to get through their troubles and warned they needed to move quickly to centralise economic decision making or risk... »

Police have launched an operation to protect the family of Tony Hayward, BP’s British boss, after they received hate mail and threatening phone calls. By Alex Spillius TelegraphUK The chief executive’s wife Maureen said the material had made her and her two children feel “rather uncomfortable” at their home in Kent. The family has... »

FarNews.com 2010-06-07 TEHRAN (FNA)- Iranian President Mahmoud Ahmadinejad on Monday called for cooperation among world states to forge a new world order. “The conditions we are experiencing today need planning for new orders in the world and (our) cooperation and co-thinking for organizing the conditions,” Ahmadinejad told reporters before departing for Istanbul, Turkey to... »

Fracking, Oil Sands, and Deep-Water Drilling By Daniel Gross TheBigMoney.com Monday, June 7, 2010 The ongoing debacle in the Gulf of Mexico is a sign of many things: the incompetence of BP, poor oversight, and an industry that places too much emphasis on production technology and too little on safety technology. But it also... »

By Oilflorida June 7th, 2010 Senator Bill Nelson was interviewed by Andrea Mitchell this morning on MSNBC and confirmed reports of oil seeping up from additional leak points on the seafloor. Senator Bill Nelson (D-FL): Andrea we’re looking into something new right now, that there’s reports of oil that’s seeping up from the seabed…... »

By John Couwels CNN.com June 7, 2010 St. Petersburg, Florida (CNN) — As if the pictures of birds, fish and animals killed by floating oil in the Gulf of Mexico are not disturbing enough, scientists now say they have found evidence of another danger lurking underwater. The University of South Florida recently discovered a... »

by Tyler Durden ZeroHedge.com 06/07/2010 We get a glimpse into the latest leading unemployment indicators courtesy of Fox Biz’ which notifies that Morgan Stanley in addition to previously reported job cuts, will also be shutting another 300 branch offices and cutting as many as 1,200 jobs over the next year in an attempt to... »

by Tyler Durden ZeroHedge.com 06/07/2010 One of the once again widely accepted market certainties is that the economy has now openly reentered a deflationary phase. Nothing surprising here, and it is consistent with huge demand for UST paper, as every incremental auction demonstrates, an outcome that will eventually confirm yet again that credit is... »

by Ron Paul (R), Congressman FinancialSense.com June 7, 2010 This past week several emerging and ongoing crises took attention away from the ongoing sovereign debt problems in Greece. The bailouts are merely kicking the can down the road and making things worse for taxpaying citizens, here and abroad. Greece is unfortunately not unique in... »

by Paul J. Lamont FinancialSense.com June 7, 2010 Back in February we stated: “As the chart of the Crash of 1987 below demonstrates, the 3rd wave of a market decline is usually the most distinct.” With the third wave now underway, the Wall Street Journal is reporting on the parallels between the Crash of... »