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Charity Engine, a U.K. cloud computing startup that donates a portion of its revenues to non-profit causes, has called Facebook a “scam” that is “allowing click-fraud on a massive scale,” and has vowed not to use the social network any more.
The company has had a longtime beef with Facebook over the way Facebook allows — or doesn’t allow — a company with an official Facebook Page to talk to its followers and [...] Andrew Haldane said protestors were correct to focus on inequality as the chief reason for 2008 economic crash The Occupy Movement has found an unlikely ally in a senior Bank of England official, Andrew Haldane, who has praised protesters for their role in triggering an overhaul of the financial services sector. Haldane, who oversees the City for the central bank, said Occupy acted as a lever on policymakers despite criticism that its aims were too vague. [...] Headlines generated by some promising statements from European Central Bank President Mario Draghi late last week have stirred investor belief that European leaders—and in particular the ECB—are about to announce some game-changing crisis-averting measures.
Such action could happen as early as Thursday, when the ECB makes its latest monetary policy decision. Draghi told reporters in London that the ECB would “do whatever it takes to preserve the euro,” qualifying that the central bank was [...] In its case against 26 major record labels at British Columbia Supreme Court in Canada, BitTorrent index isoHunt has submitted a response to the copyright infringement allegations. The BitTorrent site argues that not only do they pose no threat to the music industry, it’s the copyright industry itself that’s threatening the freedom of expression of millions of people on the Internet. File-sharing site The Pirate Bay must be blocked by UK internet service providers, the High Court has ruled. The Swedish website hosts links to download mostly pirated free music and video. Sky, Everything Everywhere, TalkTalk, O2 and Virgin Media must all prevent their users from accessing the site. “Sites like The Pirate Bay destroy jobs in the UK and undermine investment in new British artists,” the British Phonographic Industry (BPI) said. A sixth [...] The point is often made that we will face a liquid fuels crunch long before an electricity crunch. So I bought a Nissan Leaf which, as everyone knows, runs on electricity. Voila! Problem solved. I drive about 30 miles a day average and it costs around $20 a month to charge. It cost $40,000 to buy and over the lifetime of the batteries, say 10 years before needing replacement, I am [...] The 236% growth rate in the Fed’s balance sheet is staggering enough, but that’s a stock figure. The flow figure was (acc. to the GAO’s audit and Bloomberg’s FOIA) $16 trillion, plus another $10 T in CB swap facilities. That’s an enormous amount of churn for very little net gain…as the host and hostesses of Bloomberg TV indicated, the S&P was down 10%. Then they quickly retorted, “well can you [...] During a presentation today at the Adam Smith Institute, economist Kevin Dowd, a visiting professor at the Pensions Institute, Cass Business School in London, told his audience: “Fiat money is entering its death spiral… Banks use crooked accounting methods to hide losses and enrich employees with bonuses. It’s another form of looting… At least 46 out of 50 US states are insolvent.” What’s behind Dowd’s thinking? He wrote this last December: “Sooner rather than later, [...] By Matthew Lynn WASHINGTON (MarketWatch) — Italy is wobbling. Spain is facing a fresh crisis. Even France doesn’t look like it is a secure member of the euro zone anymore. The storms swirling around Europe’s beleaguered single currency are growing by the day as the crisis moves in from the periphery into what can only be regarded as core Europe. The markets remain poised on a [...] by Charles Hugh Smith from Of Two Minds Mr. Bernanke’s Manipulation Nation Our directorates of Central Planning have reduced us to Manipulation Nation. Manipulation is the beating heart of Federal Reserve and Central State policies. The centrally planned economy has failed to respond as expected, and so the response is to put more cocaine-laced pellets in the feedbox and encourage the poor starved rat inside the cage to press [...] By Greg McCoach China is panicking. Rampant inflation is driving Chinese consumers to buy gold on a massive scale… In fact China is already set to buy almost half of all the gold that’ll be mined this year. You read that right: The Chinese may buy nearly 50% of total world gold production in 2011. This incredible demand will no doubt put significant strain on global supplies. Today I want to talk about how this soaring [...] By Greg McCoach China is panicking. Rampant inflation is driving Chinese consumers to buy gold on a massive scale… In fact China is already set to buy almost half of all the gold that’ll be mined this year. You read that right: The Chinese may buy nearly 50% of total world gold production in 2011. This incredible demand will no doubt put significant strain on global supplies. Today I want to talk about how this soaring [...] How can so large of a statistical discrepancy exist, and how is it that holiday shopping malls are so crowded in a depression? The true devastation is hidden by essentially placing the job losses inside three different “boxes”: the official unemployment box, the true full unemployment box, and most importantly, the staggering and persistent private sector job loss box that has been temporarily covered over by a fantastic level of [...] Read the below. Just picked this up fresh online at ZeroHedge.com Today’s POMO of bonds maturing between 2021 and 2040, pretty much everything that still has any yield, has begun. 1) The administration continually warns the world how fragile the recovery is. 2) Reportedly, the Fed is debating resumption of QE on a massive scale. 3) Consumer confidence is edging up but is at levels normally endured during recessions. 4) First quarter growth was down to 2.7% with 70% of the growth coming from rebuilding of inventories. 5) Stimulus will wane in the second half. 6) Based upon April and May personal consumption expenditures, spending [...] So the government decided instead to support the housing market by creating an artificial mortgage market, where almost all the originations of the most common types of residential mortgages were purchased by the Federal Reserve as soon as the mortgages were converted to mortgage-backed securities. The Federal Reserve had to buy the mortgage security, because the mortgage rates were well below those that would have been available in a free [...] |
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