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Economy - Economics USA
Asian Markets Mixed After Wall Street Slips
• APAsian stock markets were mixed in sluggish, year-end trade Wednesday, following a lackluster session on Wall Street as many investors held back after this year's global rally.
Renminbi set to replace US dollar for trade in Asia Pacific
• risk.netThe Chinese renminbi is taking on an increased role in the Asia-Pacific region, and is expected over time to replace traditionally dominant currencies such as the US dollar and the euro for certain transactions.
Exponential Money
• arcleinIt is this: Our monetary system must continually expand, forever. The US/world monetary system was designed and implemented at a time when the earth’s resources seemed limitless, so few gave much critical thought to the implications that every singl
Number of homeless students rising in E.V.
• East Valley TribuneThe population of homeless students in East Valley school districts continues to grow week after week. Through the federal McKinney-Vento program, students displaced from a permanent place of residence — who are now living with other family members,
Stocks higher? Famed investor says don't bet on it
• APHomes are selling at their fastest clip in nearly 3 years, the unemployment rate is falling and stocks are up 66% since their March lows — the best performance since the 1930s. What's not to like? Plenty, according to the CEO of Pimco.
Federal spending rose 4 percent, despite Obama pledge
• McClatchy News"For all the talk about the need to get spending under control, I don't see any of that," said Robert Bixby, executive director of the Concord Coalition, a budget watchdog group.
Central Problem: the Central Bank
• Barrons OnlineHow many more crises must we endure until we realize the root cause of the problem? By fostering the booms and triggering the busts, the real villain is the institution of central banking itself.
Rusmussen: Plurality of American Now Believe Stimulus Bill Hurt
• Mondo FrazierThere is hope that Americans are not totally economically illiterate, despite the best efforts of the New York Times' Paul Krugman. Acording to Rasmussen, for the first time, a plurality of Americans believe the stimulus bill hurt the economy.
Obama's unending credit line for Fannie, Freddie
• ReutersThe Obama administration pledged on Thursday to back beleaguered mortgage finance giants Fannie Mae and Freddie Mac no matter how big their losses may be in the next three years.
OFFICIALS AND EXPERTS WARN OF CRASH-INDUCED UNREST
• godlikeproductions.com****pay close attention to what the Army War College and Director of National Intelligence have to say as well as what Zbigniew Brzezinski (Obama's Adviser) has to say about what is coming. Links to other predictions and forecasts by many notables a
Congress raises debt ceiling to $12.4 trillion
• APThe Senate voted Thursday to raise the ceiling on the government debt to $12.4 trillion, a massive increase over the current limit and a political problem that President Barack Obama has promised to address next year.
Charles Goyette on CNBC: Outlook for the US Dollar
• CNBCCharles Goyette, author of The Dollar Meltdown, on CNBC discusses the economy and the dollar.
U.S. local government pension costs exceeds $530 billion
• ReutersU.S. state and local governments face more than $530 billion in unfunded public pension liabilities and most do not have funds set aside to pay for them, a government report showed.
Gerald Celente's top 10 predictions for 2010
• Financial SenseTrends Research founder and one of the stars of The Obama Deception, Gerald Celente has an excellent track record of predicting trends. Here's what he sees for next year in this fascinating mp3 interview.
While You Were Sleeping… The Economy Collapsed ..
Written By:By Giordano Bruno Neithercorp Press - 12/21/2009 One of the most powerful forces in human psychology is the force of habit. Consistency, apathetic comfort, ties men to the ocean bottom to squeeze every ounce of oxygen from their last b
Read Letter
Understanding Your Gold Value and Inflation
Barry HessI remember the first time I read a specific quote credited to, Henry Ford, the automobile magnate. It wasn’t so much that the quote itself struck me as worthy of using it in my own repertoire, as it was that the subject seemed very misplaced from a
What’s Next for the Stock Market?
Bill Bonner“A nightmare decade for stocks,” says a headline in The Wall Street Journal. “Investors would have been better off investing in pretty much anything else, from bonds to gold or even just stuffing money under a mattress. Since the end of 1999, stoc
Recovery not as strong as previously thought
• APThe economy grew at a 2.2% pace in the third quarter, as the recovery got off to a weaker start than previously thought. The Commerce Department's new reading on gross domestic product for the July-to-September quarter was slower than the 2.8 percent
Banks with political ties got bailouts, study shows
• ReutersBanks that spent more money on lobbying were more likely to get government bailout money. Banks whose executives served on Federal Reserve boards were more likely to receive government bailout funds from Troubled Asset Relief Program.
MYTHS ABOUT MONEY by The Dollar Meltdown author Charles Goyette
Charles GoyetteMyths About Money: For generations America's governing classes have perpetuated myths about the nature of money, credit ans wealth; myths that have enabled them to bring America to the brink of financial collapse! More from Charles Goyette, autho
More bailed-out community banks failing to pay U.S. dividends
• Washington PostA growing number of community banks that got federal bailouts are failing to pay quarterly dividends they owe to the government, including 2 banks that got aid after congressional intervention on their behalf, according to data released Monday by the
Regulators shutter 2 big Calif. banks, 5 others
• APRegulators on Friday shut down two big California banks, as well as banks in Alabama, Florida, Georgia, Michigan and Illinois, bringing to 140 the number of U.S. banks brought down this year by the weak economy and mounting loan defaults.
US lawmakers push tough new 'Buy American' bill
• AFPUS lawmakers have introduced legislation to tighten "Buy American" rules that often anger major US trading partners by requiring that public sector projects rely on domestic goods and services.
Credit card's newest trick: 79.9% interest
• APIt's no mistake. This credit card's interest rate is 79.9%. The bloated APR is how First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry. It's a strategy other subprime ca
Obama: Tax hikes, spending cuts wrong for economy
• ReutersPresident Barack Obama said on Wednesday raising taxes or cutting spending would be the "wrong thing to do" next year when the U.S. economy is still fragile and this would be reflected in his budget plan and State of the Union speech.
Gulf Petro-Powers to Launch Currency in Latest Threat to Dollar Hegemony
• LewRockwell.comThe Arab states of the Gulf region have agreed to launch a single currency modelled on the euro, hoping to blaze a trail towards a pan-Arab monetary union swelling to the ancient borders of the Ummayad Caliphate.
Congresswoman Bachmann outs Barney Frank's bill to give President power to bailout w/o Congress
• breitbart.com"We're the beacons. We're it. If the US goes down, where do we go? What other nation do we go to? This is it."
China central banker: Harder for govt's. to buy U.S. Treasuries
• ReutersIt is getting harder for governments to buy U.S. Treasuries because the United States' shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said. Chinese officials generally are very careful about
China welcomes U.S. climate cash offer
• ReutersChina said on Thursday a U.S. pledge to mobilize $100 billion a year in climate funds was a "good step," and signaled Beijing was seeking compromise with Washington on its demand for checks on Chinese emissions curbs.
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