Economy

(FinancialTimes) – US senator warns of ‘financial meltdown’ risk

The US is heading for a debt-driven “financial meltdown” within five to seven years, according to Judd Gregg, the outgoing Republican senator for New Hampshire. Read More Here

(SteveWatson) – Prominent Investor: Pound Could Collapse Within Weeks

Billionaire financier Jim Rogers has predicted that the British Pound could completely collapse within weeks, sending shockwaves throughout the global economy and heralding the beginning of a downturn that would make the recent economic crisis look tame in comparison. Read More Here

(WSJ) – The Euro’s Next Battleground: Spain

Greece set off the crisis rattling the euro zone. Spain could determine whether the 16-nation currency stands or falls. Read More Here

(DailyReckoning) – A Real Economic Phenomenon

The depression is alive and well, thank you. Read More Here

(CNN) – The secret lives of America’s debtors

Americans are loaded up with credit card debt. What’s worse is that some husbands, wives and even children hide those money woes from their families. The results are often devastating. Read More Here

(DetroitNews) – Detroit Mayor Bing emphasizes need to shrink city

Mayor says it’s not ‘an easy conversation,’ but people, services must be focused to save city Read More Here

(WashingtonTimes) – Bernanke delivers blunt warning on U.S. debt

Stage is set in U.S. for a Greek tragedy Read More Here

(Bloomberg) – Junk Debt ‘Wall’ to Trigger U.S. Defaults, Bank of America Says

A “wall” of junk debt maturing in the next four years will increase the risk of corporate defaults in the U.S., according to Bank of America Merrill Lynch. Read More Here

(HuffingtonPost) – Freddie Mac 4Q Results: Freddie Mac Posts $7.8 Billion Loss

Freddie Mac lost almost $26 billion last year, ominous news for taxpayers who are footing the bill to rescue the mortgage finance company and its sibling Fannie Mae. Read More Here

(DigitalJournal) – Jim Rogers: British Pound could collapse within weeks

Jim Rogers, Chairman of Rogers Holdings, has once again made a bold prediction and that is the British Pound could quite possibly collapse within the coming weeks. Read More Here

(DailyMail) – Man who broke the Bank of England George Soros ‘at centre of hedge funds betting against crisis-hit euro’

The man who broke the Bank of England in 1992 is said to be at the centre of a plot to cash in on the demise of the euro. Read More Here

(HuffingtonPost) – Jim Bunning Repeatedly Blocks Unemployment Benefits Extension, Tells Dem ‘Tough Shit’

Jim Bunning, a Republican from Kentucky, is single-handedly blocking Senate action needed to prevent an estimated 1.2 million American workers from prematurely losing their unemployment benefits next month. Read More Here

(SeekingAlpha) – Recent Stats Indicate U.S. Economic Recovery Was an Illusion

A number of economic reports in the last few days indicate that the U.S. economy has not only not failed to recover from the recession, but continues to fall deeper into a hole. Read More Here

(Truthout) – Documents Reveal Anthem Blue Cross Manipulated Data to Justify Massive Rate Hike

Internal documents show one of the country’s largest for-profit health insurers, in an effort to maintain profits, manipulated data to justify a rate increase on individual premiums in California this year by as much as 39 percent. Read More Here

(ConnexionFrance) – Seniors march in pensions protest

THOUSANDS of retired people have taken to the streets to call for changes to the way the state pension is calculated. Read More Here

(Cryptogon) – Banks Bet Greece Defaults on Debt They Helped Hide

But first, a quick walk down memory lane: Banks Bundled Bad Debt, Bet Against It and Won: Read More Here