The Obama administration will make about $500 million available to Chrysler LLC through the end of this month as it seeks to reach an alliance with Fiat, and up to $5 billion through May to help General Motors Corp restructure outside of bankruptcy,
President Barack Obama Monday proposed a $100 billion U.S. loan to the International Monetary Fund to boost the IMF's war chest and urged a bigger stake in the IMF for emerging powers like China and India.
Accounting gains shenanigans magically turned another Citigroup loss into a $1.6 billion gain and Wells Fargo's earnings report was so full of holes the CEO ought to be under investigation for signing it.
Do you see glimmers of hope?
This article reveals that need is forcing the creation of a fresh fiat currency system, and ultimately a fresh fiat credit system. That established institutions are stepping into the breach is more an indication of the need to fill the vacuum and mus
Economic Crisis Debate held at Phoenix College, Phoenix, Arizona, March 10, 2009 / Debate Question: Can Government Spending Stabilize Our Economy?
Profits fell from $645 billion in profits in 2007, to just $98.9 billion - an 84.7% decline;
Demand for bills is rising [to zero] again because investors including foreign central banks are snapping up the shortest- term US securities as the Federal Reserve buys Treasuries to drive down borrowing costs in a policy of so-called quantitative e
Stock markets slumped more than 2 percent this morning after several major firms released first-quarter earnings and cautioned that the recession continues to weigh on consumers.
President Barack Obama convenes his first formal Cabinet meeting Monday and will ask department and agency chiefs to look for ways over the next 90 days to cut $100 million out of the federal budget. [laugh or cry?]
A fascinating new book by George Mason University Professor, Peter Leeson--"The Invisible Hook" (a play on Adam Smith's "Invisible Hand") demonstrates how the pirates' greedy self interest resulted in internally desirable
Celente takes an in-depth look at what AIG and Goldman Sachs really are and the people behind them; explains the policies of Obama’s administration, and the moral basis for a forthcoming new American Revolution.
President Obama’s top economic advisers have determined that they can shore up the nation’s banking system without having to ask Congress for more money any time soon. Critics would consider it a back door to nationalization, since the government cou
The chief economist for California's finance department, Howard Roth, said the state's unemployment rate hasn't been this high since reaching 11.7% in January 1941. The highest level on record in California is 14.7% in October 1940, he sa
In fact, his forecasting abilities and imprisonment have made him a cult figure among conspiracy theorists. He claimed to have developed a 32,000-variable super-computer based on his economic model, with "perhaps the largest economic database i
When you understand that the BIS pulls the strings of the world’s monetary system, you then understand that they have the ability to create a financial boom or bust in a country.
With his 401(k) in ruins, our correspondent visits investment gurus, hedge fund managers, and a freakish Arizona survivalist with one question in mind: How can the ordinary investor recover?
Wall Street's stunning 6-week rally has been fed by traders looking to take advantage of quick swings in the market than investors with a long-term view, NYSE Euronext CEO Duncan Niederauer said. The rally likely is to run out of steam
The United States and most of the world’s trading nations find themselves in a self-imposed, suicidal feedback loop. It must be changed to a sustainable one.
Henry Ford never diversified, Bill Gates didn't diversify. The way to get rich is to put your eggs in one basket, but watch that basket very carefully. And make sure you have the right basket.
I read with horror this morning that over 1,500 farmers in India committed suicide after being driven to debt by crop failure.
U.S. foreclosure activity leaped 46 percent in March from a year earlier, hitting a record high as programs stunting the torrid pace of failing mortgages expired
The number of people receiving jobless benefits exceeded 6 million for the first time, the government reported Thursday, and housing construction unexpectedly plunged to its second-lowest level on record — fresh evidence that the recession is far fro
“If we didn't do this, literally the state shuts down,” Martin said. “It's lights out.”
Continued claims are now at 6.02 million - the all time record.
Ending months of speculation, General Growth, along with 158 of its more than 200 U.S. malls, filed for Chapter 11 protection from creditors while it tries to restructure some of its debt
Initial data for the first quarter of 2009 showed 41 states reporting that overall tax collections were down 12.8% in January and February versus the same two months in 2008, the report said.
Michelle Muccio, the self-proclaimed Rebel Economist, is hot, sexy and smart--and a rising Libertarian Star.
As the Obama administration works to complete its stress tests for gauging the health of major banks, it could confront another problem: how to pay for shoring up any weaknesses the tests reveal.
Explain to me where the money to buy bad loans came from. Explain who is going to pay the principal on this money. Explain who is going to pay the interest on the principal. Explain why the banks could not fail? Explain why we are told to spend aRead Letter