World's cheapest car is launched
• BBCCosting just 100,000 rupees ($1,979; £1,366), the Nano will now go on sale across India next month, with deliveries starting in July.
Contents Pages by Subject
Economy - Economics USA
Ron Paul predicts 15-year depression
• FT.com“People will start to abandon the dollar as current and past economic policies create a steep rise in interest rates,” Mr Paul says.
Spring Bull Rising
• arcleina major rebound in the energy industry in particular, led by the oils. We have entered the greatest industrial retooling since the Second World War. Everyone now knows that the USA must lead the world in shifting out of the oil paradigm to the alte
Foreign Firms Eye Stimulus Dollars
• Washington PostSpain's Prince Felipe and his wife, Princess Letizia, visited New York and Washington on an unusual mission for one of Europe's most glamorous celebrity couples: to drum up business for Spanish companies from the U.S. economic stimulus packag
Obama's cabinet pick says Obama budget will bankrupt US
• CNNEven though he was almost a member of the new Obama administration, Sen. Gregg (R-NH) slammed President Obama’s approach to handling the country’s fiscal outlook. “The practical implications of this is bankruptcy for the United States,” Gregg said
Orlando 'Tea Party' rally draws more than 4,000
• Orlando SentinelSinger Lloyd Marcus told the crowd assembled in Lake Eola Park he was going to give them his take on the first days of the Obama administration. Then he shrieked. That pretty much summed up the mood in the park Saturday afternoon, when more than 4,00
Abuse Begets Abuse
• Strike-the-Root blogMost people would agree that the government giving gifts to a small number of corporations is wrong. It falls outside the powers and thus the rights of the US federal government, and thus it is also unconstitutional, for those who think there’s any v
Why South Carolina Doesn't Want 'Stimulus'<br>by Gov. Mark Sanford
• Wall Street JournalBefore the stimulus bill passed, I asked for states not to be bailed out. After it was signed into law, I said that a state bailout would create more problems than it solved, and that we shouldn't spend money we don't have. That debate was lo
More women needing cash go from jobless to topless
• APAs a bartender and trainer at a national restaurant chain, Rebecca Brown earned a couple thousand dollars in a really good week. Now, as a dancer at Chicago's Pink Monkey gentleman's club, she makes almost that much in one good night.
US Rep. Frank wants Fannie, Freddie bonuses halted
• ReutersA key US House committee chair said employee bonus programs at Fannie Mae and Freddie Mac should be halted, while the regulator who oversees the 2 government-controlled housing finance companies defended the programs.
WaMu Holding Company Sues FDIC Over Bank Seizure
• APWashington Mutual's holding company is suing federal regulators for billions of dollars, saying the firesale of the bank's assets to JPMorgan Chase violated its rights.
Toxic Asset Plan Foresees Big Subsidies for Investors
• NY TimesThe Treasury Department is expected to unveil early next week its long-delayed plan to buy as much as $1 trillion in troubled mortgages and related assets from financial institutions, according to people close to the talks.
2 corporate credit unions taken over by government
• Yahoo FinanceWASHINGTON (AP) -- Federal regulators on Friday seized control of two large institutions that provide wholesale financing for U.S. credit unions, a move they say was needed to stabilize the credit union system.
Bernanke says Fed has exit strategy from credit policy
• ReutersFederal Reserve Chairman Ben Bernanke said the Fed's buying of longer-dated U.S. Treasuries would "taper off" when the economy no longer needed help, allowing the Fed to cease its emergency support. [nice]
Greenspan says U.S. banks need large capital infusions
• ReutersFormer U.S. Federal Reserve Chairman Alan Greenspan said U.S. bank lending will not return to normal without a big injection of public or private capital. "The restoration of normal bank lending by U.S. banks will require a very large capital in
California economy worsens, unemployment at 10.5%
• ReutersCalifornia's unemployment rate increased to 10.5% in February from 10.1% in January as the most populous state's economy worsened, official data showed. California's February jobless rate far exceeded both the state's 6.2% rate a year
Bernanke Says Exec Compensation Must Be Monitored
• APBanking regulators have observed that "poorly designed compensation policies can create perverse incentives that can ultimately jeopardize the health of the banking organization," Bernanke told a meeting of smaller "community" ban
Bernanke tries to soothe small banks' bailout anger
• ReutersThe United States needs a safer way to shut down large nonbank financial firms without destabilizing the entire financial system, Federal Reserve Chairman Ben Bernanke said.
Why the Meltdown Should Have Surprised No One
• Ludwig von Mises Institute76-minute video of keynote speech by Peter Schiff at the 2009 annual Austrian Scholars Conference at the Ludwig von Mises Institute in Auburn, Alabama.
Is Gold Really the Safest Investment?
• Time MagazineMainstream hit piece trying to convince you that paper dollars are better.
US deficit forecast to hit $1.8 trillion this year
• APThe US budget deficit for the current year will top $1.8 trillion under the latest estimates produced by congressional economists. The latest figures would shatter the previous record for a federal shortfall of $459 billion, set just last year.
Montanans Gain Foothold on Sound Money Bill, Coalition Releases Video
• MontanaSoundMoney.org / DailyPaul.comThe purpose Montana House Bill 639 is to begin to reassert Article I Section 10 of the United States Constitution: “No State shall... coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts”.
Dodd introduced AIG Bonus provision into Bailout Law
• PoliticoJust re-elected Sen. Chris Dodd (D-CN) admitted on CNN that he inserted a loophole in the stimulus legislation that allowed million-dollar bonuses to insurance giant AIG to go forward – after previously denying any involvement in writing the provisio
Unemployment Claims: Continued Claims at 5.5 Million
• CalculatedRiskblog.comContinued claims are now at 5.473 million - the all time record...
Forget the bonuses: AIG can't repay its loans, GAO says
• McClatchy NewsLost in the shouting over the $165 million in bonuses paid to executives of insurer American International Group was this sober message delivered to Congress by a government watchdog: AIG's inability repay its $170 billion in loans
Need a Quality Used Truck? U-Haul Has 13,000 for Sale
• www.msnbc.msn.com"These moving vans represent a solid value," O'Loughlin noted. "U-Haul trucks feature lightweight, rust-resistant van bodies and were designed to securely hold and transport precious cargo."
U.S. mortgage applications spike on refinance demand
• ReutersU.S. mortgage applications surged in the latest week, driven by a spike in demand for refinancing as the average rate on 30-year fixed-rate home loans fell, the Mortgage Bankers Association said. Refinancing applications jumped 30 percent in the week
Consumer Prices Rise by Largest Amount in 7 Months
• APConsumer prices rose in February by the largest amount in seven months as gasoline prices surged again and clothing costs jumped the most in nearly two decades. The recession was expected to dampen any inflation pressures for at least the rest of thi
AIG's Critical Mistake - Using the Wrong Label
Brock LorberWhy all the sudden outrage over bonuses paid with taxpayer dollars? Here's a list of federal employee bonuses, they just call them “awards”.
Freddie Mac: The Government's Next Black Hole?
• TimeMortgage giant Freddie Mac lost $50 billion in 2008 alone. A look at the company's books suggests the government will have to spend at least triple that much to save the financial firm from collapse. If the housing market worsens, the tab could b
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