Productive Vs. Unproductive: Manufacturing Vs. Financialization
• OfTwoMinds.com/blogThe Status Quo heavily rewards financialized profiteering and resource extraction while penalizing productive capital investments in manufacturing.
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Economy - Economics USA
If Yemen Falls, so Does the Dollar Reserve?
• dailybell.chHow is it that the world's fortunes hang on the life or death of a murderous thug that the US has been supporting for 30 years? And why, in fact, if Yemen's President Ali Abdullah Saleh is so important, isn't it common knowledge?
Bank Shares Take a Beating, and It May Not Be Over Yet
• NY TimesBank stocks took another tumble late last week after Moody’s, the credit rating firm, warned it might downgrade the debt of giants like Bank of America, Citigroup and Wells Fargo as the government eases back on support for the sector. Even as the mar
Wall Street pro: US on 'verge of great, great depression'
• Terrence AymPeter Yastrow, market strategist for Yastrow Origer has peered into the future. What the Wall Street guru sees ahead is little short of disaster. Recently, during a CNBC interview the market maven declared, "We’re on the verge of a great, great depr
Political Myopia and America’s Manufacturing Decline
• OfTwoMinds.com/blogIs the decline of manufacturing and our status as the world’s biggest debtor nation coincidental? Hardly.
This is Just a Warm Up For What’s Coming Our Way
• ZeroHedge.comAgain, the same upheaval happening in Europe will come to these shores. It’s only a matter of time. Which is why the wise thing to do is prepare in advance of this. This means getting some food, water, and bullion on hand.
American Workers Share of National Income Falls To Lowest Level in 66 Years
• ZeroHedge.comLike Rosie, Zero Hedge is not a marxist blog: quite the opposite, but like him we come to the same troubling conclusion: "extremes like this, unfortunately, never seem to lead us to a very stable place."
Unemployment in The Great Depression vs 2011: Waking Up To The Truth
• ZeroHedge.comThere are Depression-level statistics in some states. For example, official Bureau of Labor Statistics numbers put U-6 above 20% in several states: California: 22.0, Nevada: 23.7, Michigan 20.3 and LA County has 24.1% unemployment...
10 Year Real Wage Gains Lower Than During Depression
• NakedCapitalism.com/To put that in perspective, since the Great Depression, 10-year gains in real private wages had always exceeded 25% with one exception: the period ended in 1982-83, when the jobless rate spiked above 10% and wage gains briefly decelerated to 16%.
The Birth/Death Adjustment for May Was 206,000
• ZeroHedge.comTake away the Birth/Death adjustment of 206,000 and the Real NFP is: -150,000. This is the biggest monthly B/D adjustment in over a year.
May Non-Farm Payrolls 54,000; Unemployment Rate 9.1%
• ZeroHedge.comMassive collapse in the American employment situation: May NFP at 54K, down from 244K, and not only below consensus of 165K, but below the lowest economist prediction of 65K. Private payrolls increased just 83K on expectations of...
Hail Caesar
• http://lewrockwell.com/Although the financial press speculates about a downgrade of the US government's credit rating and default if political impasse prevents the debt ceiling from being raised in time, I doubt anyone really believes that the debt ceiling will not be rais
Contraction Begins: May Same Store Sale Summary - 12 Misses, 5 Beats
• ZeroHedge.comWhatever you do don't short the ultra luxury retailers. Those will be doing very good, courtesy of all their shoppers having the Amex Discount Window credit card. Everyone else: better luck next time.
Moody's may cut BofA, Citi, Wells ratings
• ReutersMoody's Investors Service said it may downgrade the debt ratings of Bank of America Corp, Citigroup Inc and Wells Fargo & Co, citing concerns about waning U.S. political willingness to offer support for the largest banks. The sweeping Dodd-Frank f
Fed Ready to Print More Funny Money on QE3 Rumors
• http://www.prisonplanet.com/Simon Maughn, co-head of European equities at MF Global, has told CNBC that a third round of so-called quantitative easing is in the works. The private Federal Reserve will again become the marginal buyer of bonds.
Strategist: World On The Verge Of Great, Great Depression And The Fed Knows It
• http://www.prisonplanet.com/A notable market strategist has told CNBC that the world is on the verge of the largest financial meltdown in history, warning that Wall Street is at a loss as to what to do regarding the ailing economy.
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Goldman Sachs Said to Get Subpoena From New York Prosecutor
• www.bloomberg.comGoldman Sachs Group Inc. (GS), the fifth- biggest U.S. bank by assets, received a subpoena from the Manhattan District Attorney’s office seeking information on the firm’s activities leading into the credit crisis
Govt to lose $14B of auto bailout funds
• http://news.yahoo.com/WASHINGTON – The Obama administration said Wednesday that the government will lose about $14 billion in taxpayer funds from the bailout of the U.S. auto industry.
Wall Street Baffled by Slowing Economy, Low Yields: Trader
• http://www.cnbc.com/Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC.
Horror for US Economy as Data Falls off Cliff
• http://www.cnbc.com/The last month has been a horror show for the U.S. economy, with economic data falling off a cliff, according to Mike Riddell, a fund manager at M&G Investments in London.
422,000 File Initial Claims For The Week, 1,700,000 Per Month
• ZeroHedge.comAnother day, another disappointment in the economic front, where over the past week there has not been one consensus beat. Either tomorrow's NFP number will be the biggest headfake, and the Birth Death adjustment will blow the hinges off...
“We Are on the Verge of a Great, Great Depression”
• NakedCapitalism.com/But this is not news to anyone who has been paying attention.
Wall Street Baffled by Slowing Economy, Low Yields: Trader
• CNBCWall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC. "What we’ve got right now is almost near panic goin
Stocks Plunge Amid Global Recovery Fears
• http://www.cnbc.com/Stocks sank more than 2 percent Wednesday, following several economic reports that confirmed a struggling recovery and after Moody's downgraded Greece's bond ratings deeper into junk status.
Prepare for More Money Printing: Analyst
• http://www.cnbc.com/Investors should prepare themselves for a third round of quantitative easing, Simon Maughn, co-head of European equities at MF Global, told CNBC Wednesday.
States Harming People Most in Need
Stephen Lendmanfinancial terrorism
Jim Quinn: Outlaw Josey Wales - Part Four
• ZeroHedge.com“Now remember, when things look bad and it looks like you’re not gonna make it, then you gotta get mean. I mean plumb, mad-dog mean. ‘Cause if you lose your head and you give up then you neither live nor win. That’s just the way it is.” – Josey Wales
Sheer Panic On Wall Street As The Heroin Addicts Demand QE3 Now
• ZeroHedge.comHatzius just cut his Friday NFP forecast to 100,000. Just like last August when the horrendous NFP number set off QE2, so Wall Street is in full panic mode, as it tries to find a way to crush stocks enough to give Bernanke validation for QE3...
ISM Index Plunges Into Troubled Waters
• ZeroHedge.comYesterday we had the biggest monthly drop in the Chicago PMI since the Lehman collapse. Today, the Lehman bankruptcy is invoked again, after the critical ISM Manufacturing index plunges to 53.5, far below expectations of 57.1, and from 60.4...
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