Archive for July 22nd, 2010

Congressional Approval Rating at 11%

July 22, 2010

From Gallup: Gallup’s 2010 Confidence in Institutions poll finds Congress ranking dead last out of the 16 institutions rated this year. Eleven percent of Americans say they have a great deal or quite a lot of confidence in Congress, down from 17% in 2009… The results of November could end up quite devastating for the [...]

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Loan Sharks and Ponzi Schemes in China

July 22, 2010

From Israel’s Financial Expert: …China’s real estate market is a huge ponzi scheme supported by shark loans. Ordinary Chinese pledge their houses to get low interest loans from the banks, then lend to local shark loan companies at high interest rates to speculate in the real estate market. Actually, at the later part of 2008, when [...]

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Posted in Economy, Foreign Affairs | 1 Comment »