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Posts Tagged ‘housing crisis’

China cracks down on call for ‘Jasmine Revolution’

February 19, 2011 Comments off

By CARA ANNA

The Associated Press
Saturday, February 19, 2011; 10:05 AM

BEIJING — Chinese authorities cracked down on activists as a call circulated for people to gather in more than a dozen cities Sunday for a “Jasmine Revolution.”

The source of the call was not known, but authorities moved to halt its spread online. Searches for the word “jasmine” were blocked Saturday on China’s largest Twitter-like microblog, and the website where the request first appeared said it was hit by an attack.

Activists seemed not to know what to make of the call to protest, even as they passed it on. They said they were unaware of any known group being involved in the request for citizens to gather in 13 cities and shout “We want food, we want work, we want Read more…

Stocks Up, Houses Down, And What This Means for Most Americans

February 5, 2011 1 comment

Put your ear to the ground and you can almost hear the bulls stampeding. The Dow closed above 12,000 Tuesday for the first time since June 2008. The Dow is up 4 percent this year after increasing 11 percent in 2010. The Standard & Poor 500 is also up 4 percent this year, and the Nasdaq index, up 3.7 percent.

“The U.S. economy is back!” says a prominent Wall Streeter.

Ummm. Not quite.

Corporate earnings remain strong (better-than-expected reports from UPS and Pfizer fueled Tuesday’s rally). The Fed’s continuing slush pump of money into the financial system is also lifting the animal spirits of Wall Street. Traders like nothing more than speculating with almost-free money. And tumult in the Middle East is pushing more foreign money into the relatively safe and reliable American equities market.

It’s simply wonderful, especially if you’re among the richest 1 percent of Americans who own more than half of all the shares of stock traded on Wall Street. Hey, you might feel chipper even if you’re among the next richest 9 percent, who own 40 percent.

But most Americans own a tiny sliver of Read more…