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Sure looks like a huricane! But this one is in Alaska. “A massive storm system is buffeting the state of Alaska, the latest in a string of storms to strike the state so far this fall. The storm, // intensified at an extraordinarily rapid rate on Sept. 26. According to the National Weather Service’s Ocean Prediction Center, the low pressure deepened 42 mb in just 24 hours, which would be unusual [...] For a year, Julio Benitez, 61, has complained to his landlord about the unpatched walls, leaky bathtub and broken electrical outlets in his apartment. Down the hall, where Paul Fisette, 28, moved in a month ago, everything is new, from the paint to the appliances. When the garbage disposal broke recently, the landlord replaced it by 11 a.m. the next day. Welcome to the New Hampshire, where the underprivileged and upscale [...] by Charles Hugh-Smith of Of Two Minds blog, Peak Housing reflects not just a credit bubble but Peak Fraud and Peak Suburbia. Once again pundits are claiming that housing is “finally recovering.” But they’re overlooking three peaks: Peak Housing, Peak Financial Fraud, and Peak Suburbia, all of which suggest years of stagnation and decline, not “recovery.” Here is the latest Case-Shiller index, which has traced out a nearly textbook bubble and a return to [...] Greek banks continue to hemorrhage deposits: ECB data FRANKFURT (Reuters) – Firms and consumers continued to pull their money out of Greek banks at a rapid rate in January, European Central Bank data showed on Monday, underscoring the ongoing lack of trust the country’s banking system faces. Private sector deposits in Greek banks fell by almost 3 percent in January after a slight increase in December, with [...] McDonald’s and Wal Mart Warn of Inflation Because Big Banks Use Trillions of Taxpayer Money as Gambling Chips for Speculative Commodities Plays McDonald’s is warning of inflation in food prices: McDonald’s Corp forecast higher prices for beef, dairy and other items and said it would cautiously raise prices to keep attracting diners, who are grappling with higher grocery and gas bills. *** McDonald’s and other restaurant operators are getting [...] The extent of the inflation depends on what share of the total final cost chain these resources comprise. Consumer inflation of daily essentials( including food, transportation, heating and cooking oils, petrochemical based consumer goods) is now both manifest and accelerating. Depending on the good or service high single digit to teens inflation is now highly likely. Consumer inflation is the single biggest economic threat to the American [...] U.S. consumers face “serious” inflation in the months ahead for clothing, food and other products, the head of Wal-Mart’s U.S. operations warned Wednesday. The world’s largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors. Still, inflation is “going to be serious,” Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY’s editorial board. [...] Every 1 cent increase in gasoline decreases U.S. consumer disposable income by about $600 million per year. LONDON (AP) — Mounting concerns over Libya’s violent crisis battered stocks once again Tuesday and sent oil prices surging, while the earthquake in the New Zealand city of Christchurch pushed the country’s currency sharply lower. With deep rifts opening up in Moammar Gadhafi’s regime, air force pilots defecting and a [...] |
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