Fed: Housing Will Fall to Long Term Mean... 23 Percent Drop or Greater
• Market-ticker.orgFederal Reserve statement: In fact, home prices still must fall 23 percent if they are to revert to their long-term mean (Chart 1).
Contents Pages by Subject
Economy - Economics USA
Congress keeps government running another 10 weeks
• AFPThe US Congress approved a temporary spending bill that will fund the federal government for another 10 weeks through March 4 in order to avoid a government shutdown. The Senate adopted the stopgap measure 79-16 followed by the House of Representa
Alabama Town’s Failed Pension Is a Warning
• NY TimesThis struggling small city on the outskirts of Mobile was warned for years that if it did nothing, its pension fund would run out of money by 2009. Right on schedule, its fund ran dry. Then Prichard did something that pension experts say they have ne
Down Argentine Way
• LewRockwell.comThere are many ominous parallels between Argentina and the U.S. and the question often asked is can America avoid the economic consequences that Argentina suffered from a fascist government combined with government debt and currency collapse? I belie
When the gold market tops…
• sovereignman.comAt this point, everyone will want to own gold, and the signs will change from “WE BUY GOLD” to “WE SELL GOLD”… and they’ll be everywhere.
Today on LewRockwell.com - Weds. December 22nd 2010
• LewRockwellWho Predicted the Housing Bubble? - Defend Bradley Manning - The Evil Paul Krugman - Mountains of Debt, No Jobs, 16 shocking facts about the college education bubble - Municipal Meltdown Dead Ahead, 100 US city governments could collapse in 2011, say
Confirmed: WikiLeaks’ next target is Bank of America, Assange says
• RawStoryShares in Bank of America have fallen amid speculation that it was a WikiLeaks target.
Government liabilities rose $2 trillion in FY 2010: Treasury
• ReutersThe U.S. government fell deeper into the red in fiscal 2010 with net liabilities swelling more than $2 trillion as commitments on government debt and federal benefits rose. The Financial Report of the United States, which applies corporate-style acc
Foreclosures Poised to Take Down the U.S. Banking System & Entire Economy
• mandelman.ml-implode.com/Chris Whalen of Institutional Risk Analytic’s presentation at a conference in early October of 2010, showed those in attendance a terrifying picture of where our too-big-to-fail banks are headed in 2011…
Foreclosures Poised to Take Down the U.S. Banking System & Entire Economy
• mandelman.ml-implode.com/Chris Whalen of Institutional Risk Analytic’s presentation at a conference in early October of 2010, showed those in attendance a terrifying picture of where our too-big-to-fail banks are headed in 2011… they’re headed towards failing...
Meredith Whitney on CNBC: The Muni Meltdown
• EconomicPolicyJournal.com & CNBC.comMeredith Whitney appeared on CNBC today defending her important call about the very real problems in the muni bond sector.
Host:
Ernest Hancock
Ernest Hancock - Off Grid Living
Program Date:Ernest Hancock - Off Grid Living
Budget Cuts To Darken SoCal City Street Lights
• APTo trim $9 million from their budget, Vista officials say they will shut off half of the city’s residential street lights in March unless property owners agree to pay higher lighting fees.
Prospect of WikiLeaks Dump Poses Problems for Regulators
• NY Times“Tens of thousands of its internal documents will be exposed on Wikileaks.org with no polite requests for executives’ response or other forewarnings.” That was according to Forbes magazine, which interviewed Julian Assange, the founder of WikiLeak
Host:
Ernest Hancock
Municipal Bond Crises / Ethan Lee Vita LOT Hitchhiker - Nick Barnett - Wallet Voting
Program Date:Municipal Bond Crises / Ethan Lee Vita - In Studio - Liberty On Tour Hitchhiker - Nick Barnett - Wallet Voting
Host:
Ernest Hancock
Municipal Bond Crises / Ethan Lee Vita LOT Hitchhiker - Nick Barnett - Wallet Voting
Program Date:Municipal Bond Crises / Ethan Lee Vita - In Studio - Liberty On Tour Hitchhiker - Nick Barnett - Wallet Voting
Exclusive: US empire could collapse at any time, Pulitzer winner tells Raw Story
• RawStory.comAmerica's military and economic empire could collapse at any time, but predicting the precise day, week or month of its potential demise is unattainable, according to a former New York Times war correspondent who spoke with Raw Story.
Unintended Consequences
• YouTube - http://inflation.usPreparing America for Hyperinflation
Today on LewRockwell.com - Monday Dec 20th 2010
• LewRockwell.comPolice State USA - Beltway 'Libertarians' Are Anti-WikiLeaks, This issue is the touchstone, says Justin Raimondo - Is the US the ‘Sick Man’ of the Globe? - Is the US the ‘Sick Man’ of the Globe? - The First Rule of Survival, How to stay dry…and alive
Regulators close banks in Ga., Fla., Ark., Minn.
• APRegulators on Friday shuttered three small banks in Georgia and one each in Florida, Arkansas and Minnesota, raising to 157 the number of U.S. banks brought down this year by the struggling economy and soured loans.
Payrolls Drop in 28 U.S. States, Joblessness Up in 21
• Bloomberg.comPayrolls decreased in 28 U.S. states and the unemployment rate climbed in 21, showing most parts of the world’s largest economy took part in the November labor- market setback.
Weekend Assignment
• Declare Your IndependenceIntroducing Porter Stansberry - Most Important Day in 50 years
Phoenix: Bankruptcy filings in Valley hit all-time record
• AZcentral.comMetro Phoenix bankruptcy filings have hit an all-time record this year, with another month of filings still to go.
There Has Been No Economic Recovery In California
• BusinessInsider.com/If we take a look at California employment, for example, we see that there is in fact no economic recovery taking place in the nation’s largest state. None of the jobs lost in the financial crisis and recession have been replaced.
Bailout Prize Patrol
•Taxpayers Clearing House Prize Patrol delivers large checks to Citibank and Amtrak, gets them signed by Sen. Snow, Sen. Schumer, confronts Tim Geithner with wads of cash and delivers invoices to taxpayers.
Karl Denninger: System Was Insolvent In 2008 (And Still Is)
• Market-ticker.orgDateline 17 March 2008. SUBJECT: BANKING CRISIS NOW ONE OF SOLVENCY NOT LIQUIDITY SAYS BANK OF ENGLAND GOVERNOR From The Guardian, one of the Wikileaks cables....
Boy, I Say Boy: Slow, Slow Down The Shipments From China
• ZeroHedge.comWe have understood that Chinese cargo ships have been told to proceed at 'wind speed', because of a collapse in US import demand - this is partly visible in the activity amongst Long Beaches shoremen...
The First Stage of Inflation Has Already Hit, Next Up Is the Currency Collapse
• Seeking AlphaOne of the biggest misconceptions about inflation is that the US Dollar needs to collapse in order for inflation to occur. While a currency collapse often accompanies periods of heightened inflation, this is not necessarily true.
Oil prices rise to nearly 92 dollars
• www.breitbart.comWorld oil prices rose on Friday as the dollar fell against the euro amid improving demand for crude, analysts said.
DHS Implementing No Work List: Citizens Must Get Government Approval to Work in Private Sector Jobs
• infowars.comYou’ve heard of no fly and no buy lists – get ready for no work lists. Millions of workers now must apply to the DHS and prove they are not terrorists in order to be granted permission by the government to work.
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