Warren Buffett Sees “Long, Deep” U.S. Recession

 Warren Buffett Sees “Long, Deep” U.S. Recession

Whenever we get in a jam, we turn to Nebraska for advice

The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday.

He said the United States was “already in recession” and added: “Perhaps not in the sense that economists would define it” with two consecutive quarters of negative growth.

“But the people are already feeling the effects,” said Buffett, the world’s richest man. “It will be deeper and last longer than many think.”

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A Rash of Bank Failures Coming

 A Rash of Bank Failures Coming

 Because of their customer-abusing practices, few tears will be shed when the banks fail

William Seidman is the former chairman of the Resolution Trust Corp., the agency Congress set up in the 1980s to clean up the savings-and-loan lending mess. He’s also a former chairman of the FDIC. Here he talks about the housing rescue plan taking shape in Congress and on the state of banking in the United States. The picture he paints isn’t pretty.

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The Cost of Greed – Speculators in the Global Food Crisis

 The Cost of Greed - Speculators in the Global Food Crisis

 Profiting off of peoples hunger is a ticking time bomb

Vast amounts of money are flooding the world’s commodities markets, driving up prices of staple foods like wheat and rice. Biofuels and droughts can’t fully explain the recent food crisis — hedge funds and small investors bear some responsibility for global hunger.

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Millionaire Households on the Rise

Millionaire Households on the Rise

Being a millionaire isn’t even cool anymore. This guy need someone to help him dress

Nearly 10 million households in the US have a net worth of at least $1 million, excluding their primary residences, according to TNS’s “Affluent Market Research Program.”

The research company said the number of millionaire households increased by 5.9% from June 2006 to June 2007. It was the sixth such increase in as many years.

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Building the World’s Largest Wind Farm

Building the World’s Largest Wind Farm

 T. Boone Pickens – Putting his money where his hot air is

Dallas oilman and investor Boone Pickens wants to build the world’s largest wind farm in the Texas Panhandle, a project that would put as many as 2,000 turbines on nearly 200,000 acres in four counties. Pickens’ Mesa Power presented its plans to about 250 landowners and their representatives Tuesday in Pampa, about 50 miles northeast of Amarillo, TX.

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Honeywell & Airbus Turn Algae Into Jet Fuel

Honeywell & Airbus To Turn Algae Into Jet Fuel

It took a lot of talking, and they turned down three bridges first, but Honeywell
finally bought into the idea that pond scum makes good jet fuel

Plane maker Airbus and diversified manufacturer Honeywell International Inc. on Thursday said they are developing a biofuel that by 2030 could satisfy nearly a third of the worldwide demand from commercial aircraft, without affecting food supplies.

Along with JetBlue Airways Corp. and International Aero Engines, they plan to produce fuel from vegetation and algae-based oils that do not compete with existing food production or land and water resources.

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Social Media Influencing Investment Decisions

Social Media Influencing Investment Decisions

Two-thirds of high-net-worth investors are influenced by online peer-generated content

An April 2008 Cogent Research survey found that US investors are highly engaged in social media, and their investment decisions are influenced accordingly.

The study found that 25% of US online adults are engaged in social media specifically related to personal finance and investing.

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