Prostitution, Drugs and Heists are up in the Down Economy.
The Rest is Up to You…
Michael Porfirio Mason
AKA The Peoples Champ
AKA Your favorite International Playboy on the Rise’s favorite International Playboy on the Rise
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As the body count in a deadly battle between feuding drug gangs grew Wednesday – nine bodies were found between Tijuana and Rosarito Beach – Baja California’s governor announced that federal forces, including the Mexican army, will increase their presence in the state.
Officials said they were still working to identify the bodies and determine how they died. They suspect the slayings are part of the ongoing battle between rival drug gangs that has seen bunches of bodies appear throughout the state in the last few weeks, mostly in Tijuana. The most dramatic episode was a running gunbattle that saw hundreds of bullets fired on one of the city’s main streets.
The violence seems to be spreading across the state with the killing Tuesday of two state police officers in Mexicali, the state capital, according to the attorney general’s office.
This volcanic island near the Arctic Circle is on the brink of becoming the first “national bankruptcy” of the global financial meltdown.
Home to just 320,000 people on a territory the size of Kentucky, Iceland has formidable international reach because of an outsized banking sector that set out with Viking confidence to conquer swaths of the British economy — from fashion retailers to top soccer teams.
The strategy gave Icelanders one of the world’s highest per capita incomes. But now they are watching helplessly as their economy implodes — their currency losing almost half its value, and their heavily exposed banks collapsing under the weight of debts incurred by lending in the boom times.
A full-blown collapse of Iceland’s financial system would send shock waves across Europe, given the heavy investment by Icelandic banks and companies across the continent.
Famous for its cod fishing industry, Super Fly Girls, geysers, moonscape and the Blue Lagoon, Iceland was the site of the Cold War showdown in which Bobby Fischer of the United States defeated Boris Spassky of the Soviet Union in 1972 for the world chess championship. Last year, Iceland won the U.N.’s “best country to live in” poll, with its residents deemed the most contented in the world.
The krona is suffering in part from a withdrawal by a falloff in what are called carry trades — where investors borrow cheaply in a country with low rates, such as Japan, and invest in a country where returns, and often risks, are higher.
The Federal Reserve Bank of New York will meet tomorrow with banks and investors in credit-default swaps to gauge progress on an initiative to create a clearinghouse to curb risks in the market, a spokesman said.
The group in July set an end-of-year deadline to have a central system in place to absorb a failure in the $54.6 trillion market in which banks and investors privately negotiate contracts that protect against losses on fixed-income securities.
The Fed will hold a meeting with “a small number of banks and buy-side firms” to discuss progress being made on creating a central counterparty, said a New York Fed spokesman who declined to be identified.
Seth Petruzelli walked into EliteXC’s Saturday Night Fights expecting to fight on the undercard, but walked out with a brutal TKO win over one of the sports biggest celebrities — Kevin “Kimbo Slice” Ferguson — on national television.
