The Crack of Doom – Week of October 1, 2007

Maybe Winston Smith’s thought-a-day pad turned up "Don’t be Evil." Doomer V sends that this sensitive story [1] has been Google-search embargoed. Well, news-search comes up empty, and general search hits but the single intrepid commenter SoupDogs on a WSJ board. (Your mileage may vary, those are the results as of Sunday afternoon, Phoenix time.) Meanwhile, Bloomberg’s own search engine works just fine.

To be fair, it’s not just Google. We get similar results for MSN news & web, Yahoo news & web, and AOL news & web.

Doom noticed a similar thing happening a while ago with the regular Thursday Reuters summaries of foreign central bank net purchases / sales of US debt obligation. Just when that series started getting really interesting, the summaries just sort of disappeared. But then it turned out we could find them after all with the Reuters internal search, it was just the Google news search that was failing. Last week, searches like |"agency debt"| started picking up the Thursday summary on Google news again, though. Curious.

So is there an "allow Google" box to check on the release screen for the editors at Reuters and Bloomberg before they send stories like those into the wild? Maybe outside agencies and interests have some sort of authority on what Google and their competitors index in their news databases. On the other hand, it could just be an innocent side-effect of Barclay’s Bank’s totally random computer glitch the other day. Ouch! this tinfoil helmet is giving me a wicked headache :(

In any case, should you find any interesting tidbits under the fold as it were, let us know. Igor is ready to feed on any of the bits and pieces those famous pigeons may have missed. The internet is designed to work around damage — make it so.

________________________

Notes and References

[1]: "U.S. August Budget Deficit Swells to $117 Billion", by John Brinsley, Bloomberg, September 13, 2007. My emphasis.

The U.S. budget deficit widened more than forecast in August as increased military spending outpaced tax receipts and some government payments usually made this month shifted.

The $117 billion shortfall, a record for August, compares with a $64.7 billion deficit for the same month last year, the Treasury said today in Washington. Total spending last month increased 30 percent to an all-time high for any month, while revenue gained 8.2 percent.

 

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15 Comments for this entry

  1. twist says:

    Jan-Martin-

    I hope the bond market is wrong about that rate cut- the dollar is shrinking fast enough as it is!

  2. BigBird says:

    Housing blogs like this one have been an excellent tool in exposing the bubble and all of the greed and slime beneath it but I feel like they’re usefulness is waning. What the US really needs is some action on the part of it’s people to save their country and themselves from the greed of their corrupt banks and government. I think housing blogs could transform and conglomerate to be an important part of such a movement.

    I’m actually not even an American so all I can offer is a few ideas. Perhaps the loyal visitors to these housing blogs could stop sitting back in gawking in amazement as the US economic train wreck unwinds in slow motion and rather become leaders in a movement to educate the US and organize people to change the system.

    To start, everyone who is angry at what is happening should rally to inform and educate everyone they know with excellent material like:

    Money As Debt

    http://video.google.com/videoplay?docid=-9050474362583451279

    Maxed Out

    http://housingdoom.com/2007/09/30/debt-and-lots-of-it/

    Try to get your friends and family interested in these blogs and the economy in general.

    Start lobbying the media (in an organised way). Bombard Oprah, 60 Minutes, 20/20 and Dateline with your views and make them understand that this is the biggest news story of the age.

    Lobbying the government would be great too but let’s face it. Unless your lobbying in overwhelming numbers this is pretty pointless. What needs to be done is making democracy in the US work the way it’s supposed to. We have this wonderful tool called the Internet at our disposal. The internet should be improving democracy in the US but instead powerful corporations are corrupting every level of democracy. The root of this evil is of course, money.

    Stop campaign contributions!
    Destroy the fiat money system!
    Vote Ron Paul!
    Educate everyone you know!
    Use the internet and get organised!

    Don’t just sit back and watch your country turn into a banana republic.

  3. John M. says:

    BigBird -

    To a certain extent you may well be right, at least with regard to what I was writing about last year (and by the way I’m not a US citizen either). There’s a lot to be said for the rooster who crows at crack of dawn to help the farm prepare for daylight, but continuing to crow at 9:30AM is a less valuable exercise. There are a few subsidiary battles still worth fighting, though, like informing folks of the dangerous trends in net buys by foreign central banks of treasuries and agencies, plus the underestimated risks of the gigantic off-balance-sheet deals associated with the retained portfolios of the big GSEs. As well, twist’s trademark trend-line stats for SW US cities are still very valuable.

    I’m uncomfortable about Ron Paul (and thank goodness it’s not Lyndon LaRouche!) and see more problems than answers in the monetary crisis (a $1.0087 loonie is not funny)

    Information is coming at us with breakneck speed, and it’s hard to separate out the important bits. The MSM is more engaged than it used to be, as well. Everyone is hanging by their fingernails, and we’re no exception.

  4. twist says:

    NVMike-

    The article says:


    The fate of the world economy hinges on what happens to house prices in America and that may not be a good thing, former Federal Reserve chairman Alan Greenspan said on Monday.

    There are those who claim that it was the media and blogs “trash talking” housing that brought the housing market down.

    Do you suppose then they’ll blame us for taking out the world economy next?

  5. BigBird says:

    Thanks John M. I didn’t mean to say housing blogs are completely irrelevant. I guess what I mean to say is that we’re fast approaching another election and if people don’t start taking action now it will be too late. The internet is a great communication tool for democracy but unless that communication is transformed into action it’s useless.

    I don’t understand why people have reservations about Ron Paul. I’m far more alarmed by the short-term bandaid solutions that the other candidates have presented.

    If anyone does want to support Ron Paul they’ve got less than 96 days to do so. Get active, tell your friends and family and register as a Republican so you can vote for your nomination.

  6. wcvarones says:

    San Francisco Countrywide employees get a memo from Mozilo.

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