To Save Our Economy From Destruction
• Murray N. Rothbard via LewRockwell.comTo save our economy from destruction and from the eventual holocaust of run away inflation, we the people must take the money-supply function back from the government.
Contents Pages by Subject
Economy - Economics USA
William Black: Don't Trust Earnings New Accounting Rules, Stress Test is a SHAM!
• YoutubeWilliam Black, law and economics professor at the University of Missouri and a former U.S. bank regulator.
Chrysler Eliminates 789 Dealers, 25 Percent Of Total
• Zerohedge.blogspot.com/If you are a dealer and you are on the list below: tough luck - you may have a chance to appeal, but the process will likely be a moot point.
Peter Schiff Video Blog - May 12th, 2009
• Peter SchiffThe insanity continues
California Broke: Treasurer Says State Needs TARP Money
• CNBC.comThe California state treasurer called Wednesday on U.S. Treasury Secretary Timothy Geithner to extend debt guarantees through the Troubled Asset Relief Program to financially strapped states and local governments facing declining revenues.
Retail sales drop unexpectedly in April
• APRetail sales fell for a second straight month in April, a disappointing performance that raised doubts about whether consumers were regaining their desire to shop. A rebound in consumer demand is a necessary ingredient for ending the recession.
We are Rich
Written By:You, after reading that statement may think that I am some kind of nut. After you've paid your house payment, car payment, credit card, food, gas plus every other bill and have a lot of month left, may not agree with that state
Read Letter
Massive Inflation is on the Way - John Browne of Euro Pacific Capital on Fox News
• Revolutionary Politics
Meredith Whitney: Credit Contraction Accelerating
• Forbes.com"Credit card lines are being cut at an accelerating pace," Whitney said on Tuesday, "and this clearly does not bode well for consumer confidence or prospective consumer spending."
William Engdahl on US Economic Crisis: Russia Today interview
• AfterDowningStreet.orgWilliam Engdahl believes the US economy is about to enter 10 years of hell.
Retail Sales Decline in April
• CalculatedRiskblog.comThis shows that retail sales fell off a cliff in late 2008, and are still declining...
1000 GM Dealerships Forced Out May 15; Executives Dump Shares
• Michael Shedlock / MishThe largest U.S. automaker said last month it plans to shrink its dealer network to about 3,600 from the 6,200 outlets it operated at the end of last year as part of the restructuring plan it presented to the Obama administration.
GM to import China-made vehicles by 2011
• LeftLaneChinese automakers like Chery and BYD have been trying to break into the U.S. market for years, but General Motors could become the first automaker to sell China-made vehicles in America. A new document reveals GM is planning to sell China-made cars
Advanta’s Card-Lending Shutdown May Imperil Customers
• BloombergAdvanta Corp., the credit-card issuer for small businesses, may leave 1 million customers scrounging to find new lenders and debt holders facing losses of 35 percent after the company shut down accounts to preserve capital.
Recession Is Over According to Financial Experts
• ABCnews.go.com/Barry Knapp, a strategist at Barclays Capital, wrote recently that the economy appears "to be in the sweet spot of a recovery" and that the recession may have ended last month, according to Bloomberg News.
GM shares fall to 76-year low after execs dump stock
• ReutersGeneral Motors stock plunged more than 22% to a 76-year low, a day after a group of GM executives disclosed they had sold shares in the struggling automaker. GM executives disclosed they liquidated their remaining direct holdings in the automaker.
V-Shaped Recession: Krugman Says Rapid Recovery ‘Extremely Unlikely’
• Bloomberg.com“It looks to me now as if the markets are now pricing in a rapid recovery, that they’re pricing in a V-shaped recession, which I consider extremely unlikely,” Krugman, 56, said at a forum in Shanghai today.
GM CEO: Bankruptcy Likely; Firm May Leave Detroit
• CNBC.comGeneral Motors is open to considering moving its headquarters from Detroit, selling off U.S. plants and even renegotiating parts of its restructuring plan with its major union, the new chief executive said Monday.
Nephew Mentioned Rep. Murtha in Dealings as Contractor
• Washington PostRobert C. Murtha Jr. has made a sizable living for years working with companies that rely on Pentagon contracts over which his uncle, Rep. John P. Murtha (D-Pa.), holds considerable sway.
Five Economic Storms Raging Now!
• moneyandmarkets.com/The storms are not abating. Nor are they changing direction. Quite the contrary, what you see today is, at best, merely a deceptive calm before the next, even larger tempests. For investors who follow Wall Street, it could be fatal.
5/7/09 Ron Paul on Fox Business: Stress Test Propaganda
• YouTubeRon Paul appeared on Fox Business on May 7, 2009 to say that the stress tests are just propaganda and all the problems we face can be traced to the Federal Reserve.
The Worst Case Scenario (Someone Has to Say It)
• SeekingAlpha.comBy 2012, thousands of enclosed malls, strip malls, unfinished residential developments, motels, truck stops, distribution centers, middle-of-nowhere resorts and casinos, and small-city airports across America will turn into dilapidated, unwanted, and
Denninger: The Economic Tsunami Is Curling Over
• Market-ticker.denninger.net/The idea that we can have some sort of economic recovery while the sales tax receipts - which are a direct measurement of consumer activity - are down by half is pure insanity. Where is the economic activity that is going to create this "recove
White House forecasts higher U.S. budget deficit
• ReutersThe White House on Monday pushed up its forecast for the U.S. budget deficit for this year by $89 billion, reflecting the recession, a raft of new unemployment claims and corporate bailouts.
Private Sector Payroll Changes: Uncharted Territory
• Ritholtz.com/blogIt is approaching 6 million job losses per year. This is uncharted territory, an annual rate of change unprecedented for as long as the data has been tracked, going back to 1939:
White House: U.S. budget deficit Four Times Higher than 2008
• ReutersA fresh estimate of the deficit showed it coming in at $1.84 trillion -- representing a massive 12.9 percent of gross domestic product -- in the current 2009 fiscal year that ends on September 30.
U.S. risks "lost decade" due to half-steps: Krugman
• ReutersThe US risks a Japan-style lost decade of growth if it does not take aggressive action to stimulate its economy and clean up its banking system, Paul Krugman said. "We're doing half-measures that help the economy limp along without fully rec
24.7 Million Unemployed or Underemployed: 15.8 Percent Unemployment Rate
• www.mybudget360.com/In October of 1995 the BLS revised their way of collecting data for unemployment. So if we are at 15.8% with the U-6 data, does that make our current employment situation worse than the 1980s recession? Absolutely.
MSM Psyops: Evidence piling up that worst of recession is over
• AZCentral.comA better-than-expected unemployment report Friday - job losses declined to the lowest level in six months - capped a week of encouraging news, including firmer home sales, a revival in consumer spending and fresh optimism about the biggest U.S. banks
Mish: California Continues To Implode
• Michael Shedlock / MishThe State’s revenues continued to deteriorate in April. Total General Fund revenues were down $1.89 billion (-16%) from the latest estimates found in the 2009-10 Budget Act.
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