Markets Suffer Global Turmoil
Financial Times
August 18, 2011 7:07 pm
By Richard Milne in London
Benchmark US borrowing costs fell below 2 per cent for the first time in at least 60 years as markets took fright at increasing signs of global economic weakness.
US 10-year Treasury bonds, the linchpin of the global financial system used to price many assets around the world, yielded as little as 1.97 per cent on Thursday, their lowest since April 1950, according to Global Financial Data.
There were also savage falls for German and British borrowing costs, which hit record lows.
“It is a moment. Why can’t Treasury yields have a 1 per cent handle given where growth is?” said Steven Major, global head of fixed income research at HSBC.
The catalyst for the latest bout of risk aversion – which saw stock markets plunge globally and gold hit another record high – was weaker-than-expected US manufacturing and unemployment data. That came on top of a slew of bad growth numbers from Europe as well as rising fears about the funding of European banks.
New Bill Gives Obama ‘Kill Switch’ To Shut Down The Internet
PrisonPlanet.com
Government would have “absolute power” to seize control of the world wide web under Lieberman legislation…
(SAY NO! IT’S WRONG AND AGAINST THE CONSTITUTION OF THE UNITED STATES)
Paul Joseph Watson
Prison Planet.com
Wednesday, June 16, 2010
The federal government would have “absolute power” to shut down the Internet under the terms of a new US Senate bill being pushed by Joe Lieberman, legislation which would hand President Obama a figurative “kill switch” to seize control of the world wide web in response to a Homeland Security directive.
Lieberman has been pushing for government regulation of the Internet for years under the guise of cybersecurity, but this new bill goes even further in handing emergency powers over to the feds which could be used to silence free speech under the pretext of a national emergency.
“The legislation says that companies such as broadband providers, search engines or software firms that the US Government selects “shall immediately comply with any emergency measure or action developed” by the Department of Homeland Security. Anyone failing to comply would be fined,” reports ZDNet’s Declan McCullagh.
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