Gerald Celente Predicts "Crash of 2010"
• GlobalEconomicAnalysis.blogspot.comThe Federal Reserve or anybody else in the United States Congress isn't going to stop it from happening. They have Katrina quality rescue skills."
Contents Pages by Subject
Economy - Economics USA
Obama Pays More Than Buffett as U.S. Risks AAA Rating
• BloombergThe bond market is saying that it’s safer to lend to Warren Buffett than Barack Obama. 2-year notes sold by the billionaire’s Berkshire Hathaway in February yield 3.5 basis points less than Treasuries of similar maturity, according to data compiled
Obamacare and real hope, real change for handymen, medical profession, mechanics.
Found ZeroThe soon-to-be black market in goods and services may have a job for you. It might pay you in cash, it might allow you to get things you need, it might make a place for you in what I'm coming to think of as the "Post American Dream Economy" (PADE).
State of the Economy: Vehicle Miles Driven Decline in January
• CalculatedRiskBlog.comAs the DOT noted, miles driven in January 2010 were down -1.6% compared to January 2009, and miles driven have declined 2.9% compared to January 2008, and are down 4.7% compared to January 2007. This is a multi-year decline...
Underemployment At Record 20% According To Gallup
• ZeroHedge.comUnlike the Dept of Labor's arcane voodoo which lately is based more on executive confidential memos and snowfall observations, Gallup's underemployment measure is based on more than 20,000 phone interviews collected over a 30-day...
Chinese ETF Could Send Waves of Chinese Investors Into U.S. Stocks
• Businessinsider.com/Due to past investment restrictions, this ETF is sure to be a goldmine for the firm as it suddenly opens up the U.S. stock market to Chinese savings.
State and Local Governments: A Ruinous Fiscal Meltdown
• nytimes.com/In proportional terms, there has never been a drop in state revenues like we’re seeing now since people started to keep track of state revenues. We’re in unchartered territory when it comes to the magnitude of the impact.”
Black Hole of Debt: We Have Passed The Economic Event Horizon
• Market-ticker.denninger.net/We are risking severe civil unrest and the possible destruction of our republic by our continued refusal to face the mathematical facts, not just a "double dip" recession. What Greece and other nations are seeing now is nothing compared to what is..
Scariest Chart of 2010: Debt Saturation and Negative Return on New Debt
• economicedge.blogspot.com/This is because total income can no longer support total debt. In the third quarter of 2009 each dollar of debt added produced NEGATIVE 15 cents of productivity, and at the end of 2009, each dollar of new debt now SUBTRACTS 45 cents from GDP!
Nasty Surprise: Credit scores can drop after getting loan help
• By Alan Zibel, AP, Yahoo NewsWASHINGTON (AP) -- Some homeowners who sign up for the government's mortgage assistance program are getting a nasty surprise: Lower credit scores. For borrowers who are making their payments on time but are on the verge of default, the Obama admini
**Dow ADMITS MARKET RALLY JUST THE GOVERNMENT BUYING!!!**
• godlikeproductions.comThe Plunge Protection Team's job description is to prevent another 1987-like 'Black Monday' from occurring (the Dow fell 22.61% on 10-19-1987). How can that be done? According to John Crudele of the New York Post, Robert Heller, a former member
Declining Dollar to the Fed: Et Tu, Bernanke?
Bill BonnerStill on the road to moksha… Prices are rising in India – pushed up by the high cost of food. Thanks partly to a disastrous government policy of encouraging the over-use of chemical fertilizer, food prices are shooting up. In a poor country, food
Mish: High Tech Research Moves From U.S. To China
• GlobalEconomicAnalysis.blogspot.comIn addition to moving Mr. Pinto and his family to Beijing in January, Applied Materials, whose headquarters are in Santa Clara, Calif., has just built its newest and largest research labs here. Last week, it even held its annual shareholders’ meeting
Meredith Whitney: Housing Double Dip, Consumer Deteriorates, No Lending
• CNBC.comThe US housing market will face another retreat while mortgage-backed securities and Treasurys are likely to go through a "material" correction, Meredith Whitney, CEO of Meredith Whitney Advisory Group, told CNBC Tuesday.
America's "Houdini Recovery" under IMF-Type Austerity
Stephen LendmanThe big lie about an economic recovery
Mish: States Beg Congress For More Money - Will They Get It?
• GlobalEconomicAnalysis.blogspot.comStrapped states, facing up to $180 billion in budget deficits in the next fiscal year, are going hat in hand to Washington.
Recovery: Caterpillar Ask - What Recovery!
• Market-ticker.denninger.net/Caterpillar Inc Reports 3 month dealer statistics; North America February 2010 DOWN 30%, January 2010 DOWN 40%, December 2009 DOWN 46%
Moody's fears social unrest as AAA states implement austerity plans
• By Ambrose Evans-Pritchard, telegraph.co.ukThe world's five biggest AAA-rated states are all at risk of soaring debt costs and will have to implement austerity plans that threaten "social cohnesion", according to a report on sovereign debt by Moody's. The US rating agency said the US, t
CONNECTING THE DOTS
DETROIT, MICHIGAN: A TALE OF TWO CITIES IN 21ST CENTURY AMERICA
Frosty Wooldridge“The French Revolution is a very interesting subject at this point and time and could well hold some hints to our future history as it may apply to the American peasant’s actions when they finally get their fill of modern aristocracy."
California's Budget Crisis: 22,000 Teachers to Lose Their Jobs
• BlackListedNews.comState school districts had issued 21,905 pink slips to teachers and other school employees by Monday, the legal deadline for districts to send preliminary layoff notices.
James Howard Kunstler: Where Have We Been; Where Are We Going?
• Kunstler.comThis disintegrating nation is woefully distracted by Web 2.0, iPads, Avatar movies, Facebook, and the idiot celebrity spectacles of TV, not to mention the disasters of job loss, foreclosure, medical extortion, bankruptcy, corporate loot-ocracy...
Chart of the Day: The Consumer is Already Rolling Over into Double Dip
• Businessinsider.com/Yet if their transactions data is a dependable leading indicator, then we could be in for a tumble. That's because their Daily Growth Index just crashed, which means that U.S. GDP growth could be about to slump as well.
U.S. suffers net capital outflow in January
• ReutersForeign investors, led by central banks, were net sellers of all U.S. securities in January but continued to buy U.S. Treasuries. China remained the largest single holder of U.S. government debt, with $889 billion in hand in January, down from $894.8
U.S., U.K. Move Closer to Losing Rating, Moody’s Says
• BloombergThe US and UK have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rises. Both economies must balance bringing down their debt burdens without damaging growth by removing fiscal stimulus too quickly
Financial Contraction Phase II
• arcleinThe American consumer is in a position to walk away from the lenders and this is bullish for Main Street. Those same consumers will be buying all that foreclosed housing and restoring their balance sheets. This is all bullish news. A massive amoun
Findings on Lehman Take Even Experts by Surprise
• NY TimesFor the year that it took the court-appointed examiner to complete his report on the demise of Lehman Brothers, officials from Wall Street to Washington were anticipating it as the definitive account of the largest bankruptcy in American history.
7 Questions about public banking
• George Washington's BlogThe questions and supporting evidence supplied in this fascinating essay may make your head swim because everything we have been taught about banking, even in the last few enlightenment years, is incomplete.
Debunking The Myth Of US Retail Sales Improvement
• ZeroHedge.comHad January been unrevised, February retail data would have been a drop of 0.1% instead of a rise of 0.3%. We fully anticipate yet another downward revision to February numbers once March data comes out, to make the March increase even bigger.
Slowly, Americans are regaining their lost wealth
• APAmericans are recovering their shrunken wealth - gradually. Household net worth rose last quarter, mainly because the healing economy boosted stock portfolios. But the gain was slight. And it was less than in the previous two quarters.
43 Percent Have Less Than $10k for Retirement
• money.cnn.com/The percentage of workers who said they have less than $10,000 in savings grew to 43% in 2010, from 39% in 2009, according to the Employee Benefit Research Institute's annual Survey. That excludes the value of primary homes and defined-benefit pensi
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