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Economy - Economics USA
Bailout passes $8 trillion
• PoliticoAs the holiday season commences, it’s worth taking stock of the last gift that President George W. Bush and the 110th Congress have left for U.S. taxpayers. It’s a package of about $8.7 trillion dollars’ worth of potential taxpayer commitments for lo
Ron Paul Interview
• HuffPoHis campaigns was based on Republican ideals, with a special emphasis on constitutionalist and libertarian values. In 2008, Paul was the only Republican candidate for President who opposed the Iraq War and other interventionist policies.
Fed Cuts Rate to Zero-0.25%, Signals Asset Buying as Next Step
• Bloomberg.comThe Federal Reserve cut the main U.S. interest rate to “a target range” of between zero and 0.25 percent and said it will do whatever is needed to end the longest recession in a quarter-century and revive credit.
U.S. Economy : The Philosopher's Stone
• YouTube - Peter Schiff & Ron Paul"When one gets in bed with government, one must expect the diseases it spreads." - Congressman Ron Paul M.D.
The Greater Depression: Drop in consumer prices is most since 1932
• MarketWatch.com"This is scary stuff," said Mike Schenk, an economist for Credit Union National Association. "We are teetering on the brink of a massive downward spiral. Deflation is a threat."
Economic Downturn Spurs "Survival Panic" For Some
• Reuters.com/"People start seeing their economic situation change, and it stimulates a sort of survival panic," said Gaetano Vaccaro, deputy clinical director of Moonview Sanctuary...
Are You Zombie Or American?
• Rense.comMuch of this $7 trillion bailout - with NO oversight - is composed of direct cash payments to foreign capital sources to keep them from filing the lawsuit of the millennium against Wall Street and Washington, DC for FRAUD.
Fascist Powers: U.S. May Give Car Czar Power to Force Bankruptcies
• Bloomberg.comThe U.S. Treasury may adopt a plan that would let a car czar or the Treasury secretary force General Motors Corp. and Chrysler LLC into bankruptcy...
SEC Didn't Act on Madoff Tips
• Washington PostFinancial analysts raised concerns about Madoff's practices repeatedly over the past decade, including a 1999 letter to the SEC that accused Madoff of running a Ponzi scheme. But the agency did not conduct even a routine examination of the invest
Third of Hedge Funds Face ‘Wipe Out’
• Bloomerg.com“The failure rate is going to go up, the closure rate is going up, and the merger rate is going up,” IGS Chief Executive Officer John Godden said in an interview in London. “It’s going to be a 30 percent wipe out.”
Arena Football to cancel 2009 season-reports
• ReutersThe owner of the Cleveland Gladiators told the Times that AFL executives and team owners moved to suspend the 2009 season, pending approval by the players' union, so the league could fix its economic model.
Fed expected to cut US rates to 0.5%
• guardian.co.ukThe Federal Reserve is tonight expected to step up its battle to revive the recession-hit US economy when it cuts interest rates to a record low of 0.5% and announces measures first tried in the Great Depression
GM plans to slash production 60% next quarter
• ReutersGeneral Motors Corp is slashing its first-quarter North American production by 60 percent compared with the same period this year, in response to a collapse in U.S. vehicle demand.
Option Arm Mortgages: The Second Wave of Home Foreclosures
• IMPORTANT VIDEOThis 60 Minute interview covers the deadly nature of "Option ARM Mortgage" where between 50 to 70 percent of the homes will end up in foreclosure. This tsunami will hit the middle class hard between 2009 and 2011.
Economic Freedom or Socialist Intervention?<br>by Ron Paul
Powell GammillThe freedom to fail is an essential part of freedom. Government provided financial security necessitates relinquishing the very essence of freedom. Last week, the big 3 American automakers came back to Capitol Hill with their hands out
Americans Rich and Poor Pawn More to Pay Bills
• Reuters.com/"Banks aren't lending so people are coming here for short-term loans against collateral like diamonds, watches and other jewelry," said Jordan Tabach-Bank, CEO of Beverly Loan Co, self-described "pawnbroker to the stars."
30 States: Running Out of Unemployment Funds
• NakedCapitalism.comThirty states are at risk of having the funds that pay out unemployment benefits become insolvent over the next few months, according to the National Association of State Workforce Agencies. Funds in two states, Indiana and Michigan, have already dri
As Rates Race to Zero, Federal Reserve Printing Presses Gear Up
• PrisonPlanet.com & CNBC.com“Rates will fall close to zero. Everywhere,” Hugh Hendry, chief investment officer and partner, Eclectica, told CNBC.com. “The central banks will be forced to take them to zero because of the widespread disruption in society, for job losses.”
Foreclosure Tsunami: The Second Wave is Here
• HousingDoom.comThose who jumped back in during 2007 badly mistimed the bottom. Phoenix prices are down 20 percent this year, according to the (NAR). The result? That second wave of speculation has resulted in scads of newly trapped homeowners.
U.S. homes lose $2 trillion in value during 2008
• money.cnn.com/Some 11.7 million Americans are now "underwater," owing more on their mortgage balances than their homes are worth.
This is what a really bad recession looks like
• MarketWatch.comWhat exactly is "quantitative easing"? Simply put, it's an attempt by the Fed to flood the financial system with so much cash that some of it will have to be lent out. The Fed would do that by "purchasing long-term Treasuries and a
Bush Reviews Auto Finances Before Writing Check
• ABC"The White House has indicated that it will step up and use the authority that they have had all along," Sen. Debbie Stabenow, D-Mich., told ABC News. [proving that congress is purely ceremonial]
A conversation about economics with Nassim Taleb
• CharlieRose.comThis 20 minute interview with Nassim Taleb is very good because he has a way of describing our current economic condition in an entertaining fashion.
You’re smart and I’m stupid, so please explain something to me
Menckens GhostThe Wall Street Journal said Bernard Madoff's $50 Billion Ponzi scheme could prove to be history’s largest financial scam. With all due respect to the Journal, it is not the largest financial scam--not by a long shot.
For those who have everything and those who have none.
Found ZeroIt relies on one simple observation: in coming times, the man who has much might need help securing it. And along with this observation comes it's corollary, in coming times, those given access to resources necessary to procure survival will figh
Deflationary geniuses abound.
Found ZeroA slew of economists, researchers and brainiacs are talking about deflation as if it's the ultimate indicator of whatever we're going through.
Congressman Ron Paul on Bailing Out the Auto Industry
• Ron Paul YouTubeAt the time of filming the House had passed the legislation. Later this evening, the Senate rejected it.
Madoff's alleged $50 billion fraud hits other investors
• ReutersInvestors scrambled to assess potential losses from an alleged $50 billion fraud by Bernard Madoff, a day after the arrest of the prominent Wall Street trader. (do you even know where your managed money is invested?)
Detroit Downpayment Deal Dissolves
Brock LorberIn a surprise (to me) move, Senate Republicans go union-busting and hand complete control of the government to the incoming Obama administration.
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