"GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner," said John Smith, vice-president of corporate planning and alliances.
A couple of years ago, we used to get such a kick out of making fun of the financial industry. Its pretensions were absurd and shocking. Its delusions were breathtaking. Its leaders were lunkheads and grifters.
On the heels of the surprise discount window rate hike late last week, and on the eve of Bernanke’s Congressional testimony, speculation abounds as to the when and where of the next round of tightening. We need look no further than the US Treasury p
Forget about hedging inside your 401k and IRA against inflation. Sooner than you think, you will not be allowed to own gold ETF's, gold mining stocks or gold related mutual funds in your 401k or IRA.
Munger uses the form of a parable to explain how Wall Street’s love affair with gambling has destroyed America’s Main Street.
Our economy wasn't ruined by accident. These crimes of economic activity were every bit as destructive, if not more so, than the bank robber, rapist or even murderer is. These economic offenses have literally dispossessed millions of Americans...
In findings that appear to paint a darker employment picture than official U.S. data, Gallup estimated that about 30 million Americans are underemployed, meaning either jobless or able to find only part-time work
State tax revenues declined by 4.1 percent nationwide during the final quarter of calendar 2009, the fifth consecutive quarter of reduced collections, according to a report issued today by the Rockefeller Institute of Government.
The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash.
As you can see, this measure is still falling like a knife -- a bad sign for the ongoing health of the economy. (And also not what we were promised when we bailed out the banks.)
Decreasing values also reduce the amount of tax revenue and fees to state and local governments, which in turn impacts the amount of funding for public services such as education and law enforcement.
In a rare demonstration of efficiency in government, the White House offered an excuse well in advance of unemployment rate increases.
The economic slump, however, is forcing debt-laden cities, towns and smaller taxing districts throughout the U.S. to consider using Chapter 9. As their revenue declines faster than expenses, some public entities are scrambling...
Today’s labor department job report shows initial claims for unemployment benefits increased 31,000 to 473,000. There are now approximately 14,577,800 officially unemployed Americans. That is almost 9 million jobs lost since mid 2007. Further ag
Total revenues were down from $25.0 billion in fiscal 2008 to $22.0 billion in fiscal 2009. Gambling was off 12.7%, room revenue off 16.6% (hotels are getting crushed everywhere), but beverage sales were flat!
We can’t make a real revolution on an unseaworthy vessel. No matter how many times we let ourselves be conned into floating this kind of slave ship, the ending will remain the same and the next chapter will read just like the previous one.
Judge Napolitano interviews famous Gerald Celente and he gives us his views on the Greece financial default, as well as the ultimate fate of the European Union, as well as the fate of the United States.
Seen on a recent Citibank (C) statement: "Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts.
Professor Bowles makes the point that 24 percent of the US workforce is engaged at some level in the enforcement of an Elite ruled police state.
People also avoid having bank accounts because they are vulnerable to asset seizure, judgments, levies, etc. Increasingly, bankers and others who provide financial services are forced by governments to spy and snitch on their own customers
The family in the early 1970s had more discretionary income than the family in the early 2000s even with a dual income. Yet if you look around, it isn’t immediately apparent because of the massive debt bubble financed by the banking sector.
South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.
Simon Property Group, the nation's largest shopping mall owner, announced Tuesday a hostile $10 billion bid for General Growth Properties. (Worthless Commercial Real Estate comp. buying more worthless real estate????)
What Message is China Sending with a $34 Billion Drop in it Holdings of US Government Debt? A lesson needs to be learned about what happens when the government get in the practice of doing favors....
This is a 45 second video on modern day debt slavery.
In the week ending Feb. 13, the advance figure for seasonally adjusted initial claims was 473,000, an increase of 31,000 from the previous week's revised figure of 442,000.
If there is one month to fear this coming year, it would have to be July. The financial sector is very unstable and all hell could break loose at anytime, but July has special problems.
Toyota suddenly becomes the target of a government-led witch hunt? Toyota’s U.S. operations are extremely successful, not saturated by inefficient union monopolies, and are in direct competition with the now government-owned General Motors.
Homelessness in rural and suburban America is straining shelters this winter as the economy founders and joblessness hovers near double digits—a "perfect storm of foreclosures, unemployment and a shortage of affordable housing," in one official's eye
Is this a 'set up' to separate the public from even more of their own money, using their own money? Perhaps.