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Date Sent: 2009-09-09
Freedom's Phoenix Global Edition for Wednesday, September 9, 2009 PM edition
 
Taxpayers face heavy losses on auto bailout -- Dollar Slumps to Lowest Level in Almost a Year

Buyers of Huge Manhattan Complex Face Default Risk -- Murtha's Earmarking Not Unusual Among Subcommittee Members -- Court Conservatives Concerned About Campaign Spending Limits -- How she CURED her young son of autism -- How The Federal Reserve Bought The Economics Profession -- U.S. to Embrace OpenID -- The Boomers are Out of Time...And Out of Money - by Bill Bonner -- Government Servitude - by  Nick Bravo -- Iraqi shoe thrower Muntazer al-Zaidi inundated with offers and gifts -- A year after financial crisis, a new world order emerges -- Conclusive Evidence on Global Warming?

 

Taxpayers face heavy losses on auto bailout News Link  •  TAXES: Federal
Taxpayers face heavy losses on auto bailout
09-09-2009  •  SFGate 
Taxpayers face losses on a significant portion of the $81 billion in government aid provided to the auto industry, an oversight panel said in a report to be released Wednesday. "I think they drove a very hard bargain," said Elizabeth Warren, the panel's chairwoman and a law professor at Harvard University, referring to the Obama administration's Treasury Department. "But it may not be enough." The prospect of recovering the government's assistance to GM and Chrysler is heavily dependent on shares of the two companies rising to unprecedented levels, the report said. The government owns 10 percent of Chrysler and 61 percent of GM. The two companies are currently private but are expected to issue stock, in GM's case by next year. The shares "will have to appreciate sharply" for taxpayers to get their money back, the report said. For example, GM's market value would have to reach $67.6 billion, the report said, a "highly opti  Read Full Story
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Dollar Slumps to Lowest Level in Almost a Year News Link  •  Economy - Economics USA
Dollar Slumps to Lowest Level in Almost a Year
09-09-2009  •  Wall Street Journal (via Slate) 
The dollar fell against most major currencies and is at the same level as it was before it became a safe haven for investors who became jittery after Lehman Bros. collapsed. The dollar is "falling victim to a kind of double whammy" that was the result of the government's efforts to pump more dollars into the economy. Investors seem to be convinced that the efforts had the desired effect and the global economy will soon get out of recession, so they're willing to take on more risk. When combined with the high supply of dollars and low interest rates, that has made the dollar quite unattractive. Instead of dollar-based securities, investors are snapping up gold and other commodities.
 
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Reported by: Ernest Hancock
Buyers of Huge Manhattan Complex Face Default Risk News Link  •  Housing
Buyers of Huge Manhattan Complex Face Default Risk
09-09-2009  •  NY Times 

Now the buyers are running out of time and money. Paid $5.4 billion and an additional $890 million set aside for apartment renovations, landscaping and interest payments. Rents are down 25 percent from their peak.

Real estate analysts say that the partnership’s money will run out as soon as December and that the owners are at “high risk” of default on $4.4 billion in loans.
 
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Reported by: Powell Gammill
Refurbished Hubble Shows Stunning Images News Link  •  Space Travel and Exploration
Refurbished Hubble Shows Stunning Images
09-09-2009  •  Wasington Post 
NASA's Hubble Space Telescope, rebuilt by astronauts, has demonstrated its new powers with a stunning set of images of exploding stars, a stellar nursery, colliding galaxies and the lensing effect of a galactic cluster nearly halfway across the universe.
 
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Reported by: Powell Gammill
One in 33 Female Worshipers Is Target of Sexual Advances by Clergy Member News Link  •  Religion: Believers
One in 33 Female Worshipers Is Target of Sexual Advances by Clergy Member
09-09-2009  •  WasingtonPost 
One in every 33 women who attend worship services regularly has been the target of sexual advances by a religious leader, according to a survey.
 
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Reported by: Powell Gammill
Murtha's Earmarking Not Unusual Among Subcommittee Members News Link  •  Corruption
Murtha's Earmarking Not Unusual Among Subcommittee Members
09-09-2009  •  Wasington Post 
A senior congressman's controversial pattern of steering lucrative defense contracts to firms represented by his close friends and former staffers is a common practice among his fellow members on a powerful appropriations subcommittee, according to a new analysis by a watchdog group.
 
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Reported by: Powell Gammill
The Government's Effort Has Failed News Link  •  Government
The Government's Effort Has Failed
09-09-2009  •  The Market Ticker 
The Federal Reserve's latest (through July) G19 update is out, showing consumer credit. To say that these figures are ugly would be an understatement. In fact, there is simply no way you can spin this - while this contraction in credit has to happen it has horrifying implications if our Washington policymakers don't get on the stick and deal with the underlying issues here and now instead of pretending that everything is ok or worse, try to "borrow our way to prosperity." Now let's add to the misery: The Social Security Trust Fund reported an August net deficit of $5.865 Billion. This is the largest monthly deficit in nineteen years. The problem here is twofold - the long-term financial shortfall for Social Security sounds awful, and it is. But its a "kick the can and turn your head" thing and has been for more than 20 years. This problem is more acute - the long-term deficit incurred by the $6 billion that had to be borrowed is some $17  Read Full Story
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Court Conservatives Concerned About Campaign Spending Limits News Link  •  Voting and Elections
Court Conservatives Concerned About Campaign Spending Limits
09-09-2009  •  WasingtonPost 

Conservative members of the Supreme Court indicated they were extremely uncomfortable with restrictions that government has placed on the role of corporate spending on candidate elections and might rule broadly to strike what has been a long-standing fixture of campaign finance laws.

 
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Reported by: Powell Gammill
How she CURED her young son of autism News Link  •  Healthcare
How she CURED her young son of autism
09-09-2009  •  HealthNews 
mp3 interview of a woman who spent a ton of effort, time, money, frustration, and faith slowly curing her son of autism.  She details her 10-step process, and the long-term health benefits her entire family enjoyed as a result.  Read Full Story
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Reported by: Trouser Chili
HOT: How The Federal Reserve Bought The Economics Profession News Link  •  Federal Reserve
HOT: How The Federal Reserve Bought The Economics Profession
09-09-2009  •  Economic Policy Journal 
The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of the profession, an investigation by the Huffington Post has found. This dominance helps explain how, even after the Fed failed to foresee the greatest economic collapse since the Great Depression, the central bank has largely escaped criticism from academic economists. In the Fed's thrall, the economists missed it, too. "The Fed has a lock on the economics world," says Joshua Rosner, a Wall Street analyst who correctly called the meltdown. "There is no room for other views, which I guess is why economists got it so wrong."...   Read Full Story
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Uncle Sam Could Risk AAA Status As Early As 2012 News Link  •  Government
Uncle Sam Could Risk AAA Status As Early As 2012
09-09-2009  •  The Business Insider 
What does it take to risk losing your triple-A status? For Moody's, your AAA-rating starts to become an issue once interest payments reach 10% of your revenue. Unfortunately, given rising debts and falling tax revenues, the US could hit this level as soon as 2012. While Moody's has recently stated that America's AAA isn't at risk, they have definitely started to give the US some polite nudging. WSJ: In its report Wednesday, Moody's singled out the U.S. and the U.K. as two countries that "have lost altitude" among those with triple-A ratings, but noted they remain in the group of "resilient" economies, better placed to keep their ratings intact than Spain, which it called "vulnerable."  Read Full Story
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Is the Fun for Gold Just Beginning? Opinion  •  Casey Research Articles
Is the Fun for Gold Just Beginning?
09-09-2009
Jeff Clark
   Jeff Clark, Senior Editor, Casey’s Gold & Resource Report

You likely heard that the Central Bank Gold Agreement was extended by the signatory banks last month. This is the agreement where central banks around the world agree to limit sales and to do so in an orderly fashion so as to not disrupt prices.

While most writers focused on the fact that the agreement set a lower limit (400 tonnes per year, down from 500) " clearly a bullish indicator " I think there’s a more obvious fact many are overlooking that’s even more bullish.

In the first two 5-year agreements, CBGA signatories sold 4,000 tonnes of gold, or approximately 141 million ounces. This is an incredible amount of gold to dump on the market; it’s equivalent to almost two entire years of global production. Based on an average gold selling price over those 10 years of $600, this equals approximately $84.6 billion of gold.

This amount of sales should’ve had a hugely depres

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U.S. to Embrace OpenID Courtesy of Google, Yahoo, PayPal, et al News Link  •  Secret Government Projects
U.S. to Embrace OpenID Courtesy of Google, Yahoo, PayPal, et al
09-09-2009  •  Seeking Alpha 
During the video interview with OpenID evangelist Chris Messina about the state of OpenID, he expressed his wish that the Obama administration would soon start to embrace the decentralized, single sign-on method as a way for citizens to engage with the U.S. government online. Four months later, it looks like his dreams are becoming reality.  Read Full Story
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Reported by: Justin Tyme
Radio/TV Show  •  Declare Your Independence with Ernest Hancock - Radio
Host: Ernest Hancock
"Declare Your Independence with Ernest Hancock" September 9th, 2009
   FreedomsPhoenix Senior Editor Powell Gammill breaks the story of the "Notice of Claim" regarding the suing of Phoenix Police Chief & others for their role in the deaths of Phoenix Residents involving the "Baseline Killer" case.   
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Phoenix Police Brass Let Serial Killer Rampage to Protect Turf Feature Article  •  Arizona's Top News
Phoenix Police Brass Let Serial Killer Rampage to Protect Turf
Powell Gammill
   The beginnings of a multi-million dollar law suit is underway against the Phoenix Police Department alleging deliberate blocking of evidence testing led to the murders of 7 people.
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The Boomers are Out of Time Feature Article  •  Economy - Economics USA
The Boomers are Out of Time " And Out of Money
Bill Bonner
   Clowns to the left of us…jokers to the right…   The Simpleton’s Analysis: Consumers cut back. The economy sank.   Now, government must take action. It must help people out and take up the slack. 
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Obama Pitched Universal Health Care to Students in Meeting Prior to His Speech on Education News Link  •  Obama Administration
Obama Pitched Universal Health Care to Students in Meeting Prior to His Speech on Education
09-09-2009  •  cns 
Second-graders at French Run Elementary in Reynoldsburg (Ohio) eat lunch as President Obama's speech is projected onto a large screen (not visible in this photo) from a live C-SPAN feed. Prior to his nationally broadcast speech to students on Tuesday, President Barack Obama made a pitch for health care reform in a discussion with 40 freshmen at Wakefield High School in Arlington, Va. Although the president avoided controversial topics in his speech, he did promote health care reform in a face-to-face discussion at Wakefield High School  Read Full Story
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EXCLUSIVE: Federal program rejects 'card 
Democrats still back union strategy for private secto News Link  •  Obama Administration
EXCLUSIVE: Federal program rejects 'card Democrats still back union strategy for private secto
09-09-2009  •  Washington Times 
While the Obama administration and its Democratic allies in Congress press to allow private-sector workers to unionize by signing authorization cards instead of voting by secret ballot, the government's legal-aid program for the poor has declared the so-called "card check" strategy "unreliable" and rejected an effort by some of its own workers to organize that way. The Legal Services Corp., a congressionally chartered, taxpayer-funded entity, even hired a law firm to rebuff the efforts of workers in its oversight offices to gain union representation by the International Federation of Professional and Technical Engineers (IFPTE), forcing the workers to conduct a vote by secret ballot later this week. The LSC's decision has prompted concerns on Capitol Hill that the government may be trying to impose a solution on private businesses that its own agencies and panels are reluctant to follow.  Read Full Story
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Jericho, Arkansas: Pay Your Ticket Or Get Shot News Link  •  Law Enforcers or Peace Officers
Jericho, Arkansas: Pay Your Ticket Or Get Shot
09-09-2009  •  National Motorists Association 
There are many small-town speed traps across the country, but Jericho, Arkansas may be one of the most outrageous speed traps out there. A big reason why speed trap towns are able to stay in business for years is that they generally leave the locals alone. After all, if the tickets are going to out-of-towners, there’s no reason for the local citizens to be upset.  Read Full Story
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Reported by: Justin Tyme
Government Servitude Opinion  •  Government
Government Servitude
09-09-2009
Nick Bravo
    Government was created to serve the people. Unfortunately government has gotten so big it thinks its the one calling the shots.
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News Link  •  Intelligence: Use and Abuse
CIA Recruited?
09-09-2009  •  Cannonfire.blogspot via Uruknet via Rense.com 
If you are emotionally invested in Obama, then no amount of proof will ever suffice -- except, perhaps, for a signed note by CIA director Panetta, saying "Yes, he worked for us."   Read Full Story
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Reported by: Ed Vallejo
Video Shows Florida Deputy Misusing Taser News Link  •  Law Enforcers or Peace Officers
Video Shows Florida Deputy Misusing Taser
09-09-2009  •  Officer.com 
A Volusia County deputy is the subject of an internal investigation after WESH 2 News showed a video to the sheriff that allegedly shows a deputy using his Taser gun on a friend for fun.  Read Full Story
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Reported by: Justin Tyme
News Link  •  Healthcare Industry
"Doctors Told Me It Was Against the Rules to Save My Premature Baby"
09-09-2009  •  Dailymail.co.uk via Drudgereport.com 
 She told how she begged one paediatrician, 'You have got to help', only for the man to respond: 'No we don't.'   Read Full Story
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Reported by: Ed Vallejo
Radio/TV Show  •  Declare Your Independence with Ernest Hancock - Radio
Host: Ernest Hancock
"Declare Your Independence with Ernest Hancock" September 9th, 2009
   FreedomsPhoenix Senior Editor Powell Gammill breaks the story of the "Notice of Claim" regarding the suing of Phoenix Police Chief & others for their role in the deaths of Phoenix Residents involving the "Baseline Killer" case.   
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Iraqi shoe thrower Muntazer al-Zaidi innundated with offers and gifts (VIDEO) News Link  •  Bush Administration
Iraqi shoe thrower Muntazer al-Zaidi innundated with offers and gifts (VIDEO)
09-09-2009  •  www.guardian.co.uk 
Muntazer al-Zaidi, who threw his shoes at George Bush, will be set free on 14 September. Martin Chulov meets the family of a man who who became a symbol of resistance to the US Link to this video

As his size 10s spun through the air towards George W Bush, Muntazer al-Zaidi " the man the world now knows as the shoe-thrower " was bracing for an American bullet.

"He thought the secret service was going to shoot him," says Zaidi's younger brother, Maitham. "He expected that, and he was not afraid to die."

Zaidi's actions during the former US president's swansong visit to Iraq last December have not stopped reverberating in the nine months since.

Next Monday, when the journalist walks out of prison, his 10 raging seconds, which came to define his country's last six miserable years, are set to take on a new life even more dramatic than the opening act.

Across Iraq and in every corner of the Arab world, Zaid  Read Full Story
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Reported by: Ernest Hancock
Biden’s Stimulus Speech: A Context Check News Link  •  Propaganda
Biden’s Stimulus Speech: A Context Check
09-09-2009  •  BlueLoriBlogSpot 
This is from ProPublica the stimulous watchdog now even if we were to accept slip of the lip Joes assessment I just wanted to point out wouldn't that be about $1 Million of your tax dollars per job created.? Hey Joe someone on your staff should give you a reality check the job outlook has hit the WORSE-EVER level. If you put lipstick on a pig it is still a PIG! The rest is worth reading to see how your money is spent. Vice President Joe Biden marked the 200-day point of the stimulus package today with a speech at the Brookings Institution, where he spent nearly an hour ticking off its achievements so far. Among other things, Biden said some economists had given the $787 billion stimulus bill credit for creating 500,000 to 750,000 jobs and boosting the gross domestic product in the two most recent quarters.  Read Full Story
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Members of Congress ‘Bribed, Blackmailed News Link  •  Whistleblowers
Members of Congress ‘Bribed, Blackmailed
09-09-2009  •  Brad Friedman 
It has now been over a week since the video tape and transcript from the remarkable 8/8/09 deposition of former FBI translator-turned-whistleblower Sibel Edmonds was publicly released. Previously, the Bush Administration invoked the so-called “state secrets privilege” in order to gag Edmonds, in attempting to keep such information from becoming public.    Read Full Story
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Reported by: Jim Stachowiak
Reviewing David Swanson's Daybreak Feature Article  •  Police State
Reviewing David Swanson's Daybreak
Stephen Lendman
   An in-depth review of Swanson's important new book
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A year after financial crisis, a new world order emerges News Link  •  Economy - Economics USA
A year after financial crisis, a new world order emerges
09-09-2009  •  Kevin G. Hall, McClatchy Newspapers 
[looks like they are getting us warmed up to the NWO ED] One year after the near collapse of the global financial system, this much is clear: The financial world as we knew it is over, and something new is rising from its ashes.

Historians will look to September 2008 as a watershed for the U.S. economy. [notice no explanation of the CAUSE ED]

On Sept. 7 , the government seized mortgage titans Fannie Mae and Freddie Mac . Eight days later, investment bank Lehman Brothers filed for bankruptcy, sparking a global financial panic that threatened to topple blue-chip financial institutions around the world. In the several months that followed, governments from Washington to Beijing responded with unprecedented intervention into financial markets and across their economies, seeking to stop the wreckage and stem the damage.

One year later, the easy-money system that financed the boom era from the 1980s until a year ago is smashed. Once-ravenous U.S. consum  Read Full Story
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Reported by: Morpheus Titania
Red Flag Alert - H1N1 Cases in the schools on the rise why? News Link  •  Pandemic
Red Flag Alert - H1N1 Cases in the schools on the rise why?
09-09-2009  •  Freedom Fighter Radio.net 
Is anyone asking why it seems like many of the recent cases of H1N1 cases are in the public schools? This phenomena is not isolated to the United States. A pattern seems to be developing as reflected in the recent outbreaks at public schools and Universities.   Read Full Story
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Reported by: Jim Stachowiak
The Minimum Wage News Link  •  Economy - Economics USA
The Minimum Wage
09-09-2009  •  arclein 
The Card-Krueger work is essentially correct: the minimum wage at levels observed in the United States has had little or no effect on employment. At the minimum, the book has changed the burden of proof in debates over the minimum, from those who stressed the potential distributional benefits of the minimum to those who stress the potential employment losses."--Richard B. Freeman, Journal of Economic Perspectives  Read Full Story
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Reported by: Robert Klein
Conclusive Evidence on GW? News Link  •  Climate Change
Conclusive Evidence on GW?
09-09-2009  •  arclein 
Nobody disputes the two hundred year rise in temperature, except that it is better explained as a rebound from the little ice age. This leaves us exactly nowhere when is comes to current interpretation. We must wait for follow up to this little bit. This item may be the recent rehash of the Mann report that is just as flawed but has been going the rounds. (that was the report that floated the famous hockey stick) The recent effort got panned for the same reasons.  Read Full Story
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Reported by: Robert Klein
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