Nassim Nicholas Taleb Angry with Economists
• YouTubeNassim Nicholas Taleb angry with economists. The interviewer was just a journalist clueless about his ideas but he got them across anyway by ignoring her questions.
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Economy - Economics USA
Restaurant Performance Index at Record Low - After Falling for 17 Months
• CalculatedRisk.blogspot.com“A solid majority of restaurant operators reported negative same-store sales and traffic levels in November, while nearly one-half expect their sales in six months to be lower than the same period in the previous year.”
Paul Craig Roberts: Will There be a Recovery?
• CounterPunch.comOnly a government totally oblivious to reality would imagine that Russia’s Putin, whose nose is rubbed in excrement every day by the US government, will permit America to transit Russian territory to resupply US imperial legions in Afghanistan.
Analyst Predicts 40% Unemployment, No Recovery until 2015
• PrisonPlanet.comUnemployment nationally in the USA is now touching 16%. The officially posted number is somewhere near half of that. By the fall of 2009, American real unemployment will be near the all time 1930′S Great Depression high of 25% unemployed. Sadly
Predictions Justin Raimondo: Save your candles – the Dark Ages are coming
• Antiwar.com/justin/The trillions President-elect Obama plans on spending to "cure" our economic malaise will prove poisonous to the dollar, with hyperinflation an inevitability. Whether this reaches Weimar levels remains to be seen, but one can easily imagine
ADP Says U.S. Companies Cut 693,000 Jobs in December
• Bloomberg.comCompanies in the U.S. eliminated an estimated 693,000 jobs in December, the most since records began in 2001, a private report based on payroll data showed.
94th's richest person throws himself under train over debt
• BloombergMerckle, whose estimated $9.2 billion fortune put him 94th on Forbes’ list of the world’s richest people, was hurt by bets on Volkswagen AG, a drop in the value of HeidelbergCement stock and increasing debt. The family’s spiraling debt threatened hol
Banker Bailout Cost Exceeds All American Wars
• Accuracy in Media.org“The total value of the bailouts undertaken by the federal government in 2008 now exceeds the combined cost of every major war the United States has ever engaged in, according to a comparison of war costs calculated by the Congressional Research Serv
Ivy Zelman: "Expecting a Tsunami of Foreclosures Over The Next Several Years"
• CNBC.comIvy Zelman stated her opinion during this morning's interview that the housing market would be much worse in 2009 when compared to 2008
Its not my debt, the children Speak up about the national debt is the governments not theirs!
• youtube.comLet your kid tell the world on a nationally televised commercial that "It's not their debt!" This video brought to you by http://FreedomsPhoenix.com "It's not my debt"
Ron Paul at Madhoff hearing
• cspan.orgDr. Paul speaking at 28 minutes and 1:41 into hearing. Of course the CON-gressmen of the committee shows how they must improve legislation so that the investor CON-fidence is restored in the schemes. Dr. Paul mentions on the record that the biggest
The Manipulation of Gold and Silver Prices
• http://seekingalpha.com/Every time a geo-political event, or a serious economic happening, such as the collapse of Bear-Stearns, causes gold to rise, (as it would be expected to do since it has always been a ‘safe haven investment’), the price immediately gets trounced, and
Join the growing network of competing complementary private currencies
•By participating in the AOCS, you have immediate access to the thousands of participating merchants across the country, as well as the approved Mints that will craft your private currency. AOCS Merchants are enrolled to accept any AOCS-approved curre
Chrysler U.S. December sales drop 53%
• MarketWatch.comChrysler LLC said Monday that U.S. December sales fell 53% to 89,813 vehicles from 191,423 a year ago. From a year ago, U.S. December sales of Chrysler-branded vehicles dropped 60% to 19,453 vehicles, Jeep-branded vehicles fell 48% to 23,091...
Toyota, Honda, Ford Say U.S. December Sales Fell More Than 30%
• Bloomberg.com“If consumer confidence doesn’t snap back soon, it’s going to be difficult for the automakers,” said John Wolkonowicz, an analyst with IHS Global Insight. “It isn’t just GM, Ford, Chrysler that are suffering from this. It is the entire auto industry
44 States Face Huge Budget Shortfalls
• Michael Shedlock / MishThe California 2010 deficit is now projected to be $25 billion, a whopping 24.8% of the Fiscal Year 2009 General Budget. However, how can anyone have any confidence in the numbers when the projected deficit is revised higher every month?
Obama considering expanding jobless benefits
• NY TimesPresident-elect Barack Obama and Congressional Democrats are considering a major expansion of government-assisted health care insurance and unemployment benefits as part of a two-year economic recovery program.
2008 Job Losses Probably Worst Since 1945: U.S.
• Bloomberg.comThe U.S. economy probably lost more jobs in 2008 than in any year since the end of World War II as firings rippled from homebuilders and automakers to banks and retailers, a government report may show this week.
SEC chief claims regret over short-selling ban
• Blog of BileThe SEC imposed the temporary ban under intense pressure from the Federal Reserve and Treasury Department which insisted it was crucial to the short-term survival of these institutions, Cox said. A few weeks after the temporary ban was lifted, global
Nassim N. Taleb: America in Most Difficult Situation Since the American Revolution
• YouTube.comIn this nine minute interview Nassim N. Taleb and his mentor Benoit Mandlebrot discuss the seriousness of America's financial situation and how little we understand of its possible outcome. Video interview from 12-21-08.
Martin Feldstein: Economy May Be Worse A Year From Now - Wants Mortgage Firewall?
• CNBC.com"We are facing an economic downturn that is worse than anything I have seen in the post-war period," Feldstein said. "American households have lost more than $10 trillion of net worth in the stock market and housing prices. Watch the v
Remember the week before Blagojevich's wire tapping?
•Blagojavich stood up to the Bank...I think everyone knows the rest of the story.
Dr. Larry Parks of FAME condemns fraudulent monetary system, presents moral and Constitutional remed
• Lawrence Parks, Ph.D.Dr. Parks is the Executive Director of the Foundation for the Advancement of Monetary Education (FAME), whose Board of Advisors includes Ron Paul, Lew Rockwell, Edwin Vieira. He wrote the highly acclaimed book "What Does Mr. Greenspan Really Th
States seeking $1 trillion 'Federal Bailout' to 'keep afloat'
• politico.com/news/A group of Democratic governors warned Friday that without as much as $1 trillion in federal assistance, many states will not be able to pay their bills in the next year.
'Financial 9/11' struck over $6.9 trillion from US economy during 2008
• Rawstory2008 saw the greatest financial losses in generations, as $6.9 trillion poured from investors' coffers in the worst series of cascading disasters since the Great Depression. The resulting panic was met with equally drastic action by the US Treasu
Congress to get one week to consider economic package
• Washington Post[buried] Obama aides said the president-elect will make an all-out push to convince Americans the government must spend $1 trillion to create jobs, provide cash for spending and shore up the finances of the state governments.
Paulson blames crisis on imbalance
• Financial TimesGlobal economic imbalances helped to foster the credit crisis by pushing down global interest rates and driving investors towards riskier assets, outgoing US Treasury Secretary Hank Paulson told the Financial Times. In a valedictory interview, Mr
SEC Said to Probe More Ponzi Schemes After Madoff Disclosures
• BloombergU.S. regulators working to untangle Bernard Madoff’s alleged $50 billion Ponzi scheme are probing other money managers suspected of using similar tactics, two people with knowledge of the inquiries said.
Manufacturing Shrinks as Orders Hit 60-Year Low
• BloombergThe decline in U.S. manufacturing deepened in December as demand for such products as cars, appliances and furniture reached the lowest level since at least 1948, signaling further cutbacks in factory jobs and production this year.
Some people may not wait for the gangster banksters' leftovers
• AFPNew York's police chief warned Wednesday that banks need to beef up security as thieves respond to the recession with a wave of heists. "We have seen an up tick in bank robberies," Commissioner Raymond Kelly told CNN.
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