Gallup poll finds record support for legalizing marijuana
• Digital JournalA new study by Gallup shows almost half of Americans -- a record number -- are in support of legalizing and taxing marijuana for recreational use by adults.
Contents Pages by Subject
Economy - Economics USA
They're Destroying the Dollar!
• Charles Goyette from TheStreet.comIf a cheap dollar doesn't produce prosperity, could the gnomes in the Treasury and at the Federal Reserve have other reasons to opt for the devaluation of the dollar? They go about their subterranean toil, undermining the dollar seemingly heedless of
The “Dis-Savings” Glut
Bill BonnerLook at the price of oil – over $79. And the price of gold – over $1050. Compared to each other – oil and gold – prices are stable. But against the dollar both are rising. In other words, people with dollars are trading them for oil and gold.
Higher jobless rates: The new normal
• APEven with an economic revival, many US jobs lost during the recession may be gone forever and a weak employment market could linger for years. That could add up to a "new normal" of higher joblessness and lower standards of living for many Americans,
Revised formula puts 1 in 6 Americans in poverty
• APThe level of poverty in America is even worse than first believed. A revised formula for calculating medical costs and geographic variations show that approximately 47.4 million Americans last year lived in poverty, 7 million more than the government
Black Gold... Green Oil
Marin KatusaThis summer, there's been a flurry of new green announcements from the world's major oil firms. ExxonMobil, Chevron, Valero, Statoil, Marathon, and Sunoco have all thrown their hats into the green ring.
U.S. charges billionaire Rajaratnam with record insider trading
• ReutersBillionaire hedge fund founder Raj Rajaratnam and executives from some of the most prestigious U.S. companies were charged with the largest hedge fund insider-trading scheme ever. Investigators said they used court-approved telephone wire taps for th
Real Estate Collapse Entering New Phase: Banks Refusing to Repossess Abandoned Homes, or Even File F
• CryptogenNot only are there no bids in some markets, the accumulation of property taxes means that some properties have negative valuations, like a derivative trade that’s gone bad.
FDIC Bankrupt? Uh Huh Again
• The Market TickerGee, who saw this one? Anyway, the point stands. The FDIC is clearly out of money, and this is nothing more than yet another legalized accounting fraud game, where they'll get "the money" now but allow the banks to "recognize" that "charge" over
Restarting the Job Machine Why Stimulus 2.0 might backfire
• News WeekWhat can government do to crank up America's creaky job machine? We'll be arguing ferociously about that in coming months, and the answer, frankly, isn't clear. Diehard Keynesians insist that only more government spending and tax cuts will accelerate
CONNECTING THE DOTS
MADE IN CHINA: IMPORTING AMERICA TO ITS OWN DEATH
Frosty WooldridgeDuring the Bolshevik Revolution that led to communist Russia, Comrade Vladimir Lenin said, “Sell the capitalists enough rope and they will hang themselves!”
Freedom Lives:
Linda HunnicuttEven with all the problems caused by those that like to do this we have managed to succeed with our project and it is now up and running with people on the ground proceeding with the construction of Freedom Project.
U.S. must live within its means: Geithner
• Reuters"It is very important that Americans understand that we need to do everything possible to sustain confidence in our ability to keep inflation low and stable over time and to make sure we're getting our fiscal house in order," Geithner said.
Corporate America worried about sinking dollar
• ReutersChief executives from the biggest U.S. corporations worry that the slumping dollar could sap U.S. credibility around the globe, spur inflation and ultimately undermine the economy. The dollar has fallen to a 14-month low; and while a weaker dollar ma
Debt Spiral Financial Holocaust Fiat Currencies Zero Bound, the Next Down Leg
• MarketOracleThe demise of the G7 financial systems, currencies and economies continues to march along as incomes collapse. The social welfare states and their banking system’s Ponzi finance-based economies are BROKE, their obligations and promises irredeemable
Stephen Colbert's Stock Market Erotica
• The Business InsiderThe Colbert Report reminds us just how exciting a bull market can be. Check out "The Money Shot"
Bloomie's Broken Window Blooper
• Economic Policy JournalThis ain't the 'Broken Window' theory championed by Rudy, Billy and Howie in NYC in the early 90's. No, this is the 'Broken Window fallacy' of French economist Frederic Bastiast of the 50's (the 1850's, that is), and NYC mayor Mike Bloomberg is all o
Black Swan Chronicles: Are Job Losses Actually Worse Than Expected?
• Rebel TraderBTE (Better Than Expected) has been the norm these last times… Pushing the market always higher. Now, how about some WTE (Worse Than Expected)?
The Greatest Depression Is Coming
• Seeking AlphaGood times will not be returning any time soon. We continue to lose jobs month over month. And, while the statistics being released are showing a slow down, this is basically a fabrication. There are thousands of people falling off of unemployment
The FHA Is A Looming Disaster
• The Business InsiderIncompetence plus ideology equals bankruptcy. The FHA still backs toxic mortgages The FHA's mission is political: it is still trying to "expand home ownership.The discredited ideology of home ownership is the most toxic ideologogy since communism.
Bank failures near 100 for year
• MarketwatchThis year is shaping up to be the first since 1992 to see the failure of at least 100 banks, and experts suggest we could be no more than 10% of the way through this cycle of bank collapses, which is sure to be the worst run of closures since the Gre
Bailout Helps Revive Banks, and Bonuses
• NY TimesOne of the most powerful forces driving the resurgence on Wall Street is not the banks but Washington. Many of the steps policy makers took to stabilize the financial system helped set the stage for this new era of Wall Street wealth.
Max Keiser - Face Off - "Is the Crisis Over?" (1/2)
• You Tube
Death of Petro-Dollar, Told Ya So
• Golden JackassThe story hit like a thief in the night, even bearing Biblical proportions. The end of the exlusive sale of MidEast oil in US Dollars, the rise of Russian and Chinese influence in the Persian Gulf, the rise in importance for the IMF basket of curren
U.S. Budget Deficit Widened to $1.42 Trillion in 2009 (Update1)
• BloombergThe shortfall for the 12 months ended Sept. 30 was more than triple the $455 billion record set a year earlier, the Treasury Department said today in Washington.
Recession Will Be 'Full-Blown Depression': Strategist
• CNBC (HT Newspundit)This global recession will turn into a "full-blown depression," Nicu Harajchi, CEO of N1 Asset Management, said Friday, adding that global stimulus hasn't come down to Main Street.
Tougher US warning says China not manipulating yuan
• AFPThe United States toughened its warning on China for "lack of flexibility" of its yuan currency and for rapidly building up its foreign reserves, but stopped short of branding Beijing a currency manipulator. "Both the rigidity of the renminbi and
Stocks tumble on Bank of America, GE earnings
• BreitbartStocks are falling sharply after a bigger-than-expected loss at Bank of America and a weak report from General Electric.
The JP Morgan Effect
Bill BonnerYesterday, the Dow soared over they 10,000 mark. If it keeps going at this rate – up 144 points yesterday – it will soon equal the post-’29 bounce. All we need is two more days and we’re there.
The Dollar in Your Wallet Is Only Worth 18¢
Jeff ClarkIt was the mid-‘70s. I was helping my Dad build a dirt road to our barn and he wasn’t happy. Not about the hard work or humidity, but from what was happening to the dollar. Inflation was starting to kick into high gear, grabbing headlines that even a
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