The damage to the economy is already 3% worse than in 2008, and the 2010 contraction has lasted 28% longer than the entire 2008 event without yet starting to recover... (The 2010 economic contraction is over 280 days long.)
What We Can Learn From the Middle Ages / Judgment Days / Infuriated at Getting a Little of What It's Dishing Out / Default or Hyperinflation... etc
Podcasted show from godlikeproductions.com. Total doomage.
I am going to start my analysis by listing what we know. Then I am going to proceed to the key survival+ question of cui bono--to whose benefit? Why does answering this question matter?
For more and more seniors, retirement doesn’t mean a debt-free life of leisure. An increasing number of Americans aged 65 and older are declaring bankruptcy. Those aged 65 and older represented 7% of bankruptcy filers in 2007, a mind-boggling jump
The Fed will need to print $4 trillion in new money to close the Taylor gap.
The Fed has had stocks and gold spiking up since early September, and the dollar plunging, first on hints that it might consider providing another round of quantitative easing if the economic recovery continued to worsen, and then practically promisi
Congressman Ron Paul discusses tax policy and the economy with David Asman on FOX Business.
This report was on 60 Minutes this evening, and it portrays the stark reality of unemployment in Silicon Valley. These Baby Boomers will never recover more than a portion of their former lifestyles.
Deck Chair Politics on the USS Titanic - Not Only Does the State Bring Out the Worst in Human Beings It cultivates and promotes it, says Karen Kwiatkowski - The Tea Parties Are Worse Than Useless Karl Denninger on how Republicans made the TPs part of
Alan Greenspan expanded the money supply after the dot-com bust, dropped interest rates to 1%, encouraged a credit-driven boom, and created a gigantic housing bubble. By the time the Fed realized they had created a bubble, it was too late.
The only mortgages being traded are those 100% guaranteed by the U.S. government: in effect, the risks intrinsic to a corrupted market have been shifted to the taxpayers, while the criminals who profited from the fraud and embezzlement got away...
Regulators shut down 7 banks in Florida, Georgia, Illinois, Kansas and Arizona, lifting to 139 the number of US banks that have fallen this year as soured loans have mounted and the economy has sputtered. The Federal Deposit Insurance Corp. took over
NJ Governor Christie will examine a report on an $8.7 billion rail tunnel after the federal government urged him to reconsider his cancellation of the project. The tunnel between NJ and Manhattan would be the largest US public-works project and has b
The two companies mostly impacted by this announcement are Bank of America Corporation and Citigroup, Inc. This is due to the fact that both entities’, and their related subsidiaries’, Issuer Default Ratings (IDRs) and their respective senior debt...
All across the world, the kids are OK! And so are their investments!
Why I Do Not Vote - Butler Shaffer on another government trick / The Fascist on the Dime - Lew Rockwell on the mystery of FDR unraveled / The 'Good,' the Bad, and the Ugly - Doug Casey on US presidents
Treasury Secretary Timothy Geithner said he would use weekend meetings of G-20 finance ministers to advance efforts to "rebalance" the world economy so it is less reliant on U.S. consumers, to move toward establishing "norms" on exchange-rate policy,
We estimate that every one percentage point decline in the real trade-weighted dollar translates into a $6 per barrel increase in oil prices. Every $6 dollar increase in oil prices is worth three cents more on retail gasoline prices.
The federal bailout for Fannie Mae and Freddie Mac could nearly double in size during the next 3 years, according to projections from the companies' federal regulator. Fannie and Freddie, the federally controlled mortgage finance giants, will need as
"Buying American" used to be a popular political gesture. But these days it's becoming impossible.
The "Summer of Recovery" is now in our rear view mirror, so lets see what is happening in the real world with the US demand for oil. Oh, it's collapsing....
"This is cancer, this isn't a sudden crisis event thats going to erupt out of the ground like some monster and trying to eat us, this is a slow wasting process, and if we don't understand that that is the nature of deflation" Chris Whalen
Treasury Secretary Timothy Geithner suggested that he sees no reason for the dollar to sink further against the euro and the yen, saying these major currencies are "roughly in alignment," the Wall Street Journal reported
With 86% of the U.S. workforce in the service industry, introducing tariffs on imported goods and devaluing the dollar will further put the squeeze on the American middle class who already have been systematically screwed by the ruling elite...
By around 2012 or 2013, the three major state pensions’ obligations will be more than five times as large as total state tax revenue.
Though suburban areas are now home to one-third of America's poor, large cities have not been immune to the effects of the recession. Residents of cities like New York, Los Angeles and Miami have seen some of the biggest drops in...
In Tracy R. Twyman's latest massive essay at Liberty Cap Press, she explains the religio-mystical concepts of child sacrifice, slavery, and bathing in blood, particularly in relation to the metaphors of alchemy. She describes how these ideas lie at
By 2010, over a quarter of the total population in 239 counties was receiving food stamps. Most of these are small rural counties, but they also include major urban areas like Philadelphia and New York.
ETF dropped 9.6% and lost $7.9 billion — but, wait, it was another glitch