Thursday, April 24, 2008

More economic issues



OIL NEARS $120...

DELTA/NORTHWEST report combined $10.5B loss on fuel costs...

House GOP Challenges Pelosi for Gas Price Plan...

Comptroller Of Currency Worried About Bank Failures...

PAPER: Americans hoard food...

Grocery Shoppers In Silicon Valley Asked To Limit Rice Purchases...

ERA OF CHEAP FOOD ENDS AS PRICES SURGE...

The New Face Of Hunger

UN Cuts School Children's Meals

By Jeremy Lovell in London

A "SILENT tsunami" unleashed by costlier food is threatening 100 million people, the United Nations has warned, revealing that its World Food Program has begun cutting the provision of school meals to some of the world's poorest children as the global food-price crisis worsens. Continue



The Great Silence

Our Gilded Age and Theirs

By Steve Fraser

The myth of the "ownership society" confronts the reality of the "foreclosure society." The great silence of the second Gilded Age may give way to the great noise of the first. Continue

Food price rises are "mass murder"-UN envoy: Global food price rises are leading to "silent mass murder" and commodities markets have brought "horror" to the world, the United Nations' food envoy told an Austrian newspaper on Sunday.

Chavez says food prices "massacre" of world's poor: Soaring food prices are a "massacre" of the world's poor and are creating a global nutritional crisis, Venezuelan President Hugo Chavez said on Tuesday, calling it a sign that capitalism is in decline.

The new face of hunger: Last year wheat prices rose 77% and rice 16% (see chart 1). These were some of the sharpest rises in food prices ever. But this year the speed of change has accelerated.

Bolivia's president says biofuels hurting food prices: Bolivian President Evo Morales says biofuels are causing higher food prices in his country and could cause serious problems around the world.

Americans hoard food as industry seeks regs: Farmers and food executives appealed fruitlessly to federal officials yesterday for regulatory steps to limit speculative buying that is helping to drive food prices higher. Meanwhile, some Americans are stocking up on staples such as rice, flour and oil in anticipation of high prices and shortages spreading from overseas.

This is the most dangerous period in more than 40 years : Navy Adm: Mullen, the chairman of the Joint Chiefs of Staff, said the threats of extremism and changes happening around the world associated with energy and resources make the present day “the most uncertain and potentially the most dangerous time since I’ve been serving,”

California foreclosure "surge": Up 327% from '07 levels: The number of California homes lost to foreclosure in the first quarter surged 327% from year-ago levels -- reaching an average of more than 500 foreclosures per day -- DataQuick said in a report, warning that the widening foreclosure problem could "spread beyond the current categories of dicey mortgages, and into mainstream home loans."

Gold Extends Losses On 'Stable' Dollar

US Regulator Fear Waves Of Ban Failures

Oil Price Surges Warns Of Global Recession

UK Mortgage Approvals Hit Record Low

Era Of Cheap Food Ends As Prices Surge

BoE $100B Bailout Fails To Unlock Money Markets

In The Eye Of The Housing Hurricane

Saudis Put Oil Production Increase On Hold

No Help Yet For Most Subprime Borrowers

JP Morgan Sees $75B Gap In Big 4 UK banks

RBS Unveils $24B Fundraising Plan

Mortgage Rates Stay High After BoE $100B Rescue

Credit Crisis Turns Into Credit Armageddon

Gas Hits Record $3.50 - Oil Rockets Over $117

77% First Quarter Bank Of America Profit Drop

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