Economy

(C-SPAN) – Ron Paul: Restore a Full Audit of the Fed! – Video Link Here

(AsiaTimes) – Part 1 of 2 – THE POST-CRISIS OUTLOOK: Part 10 – The trillion-dollar failure – Read More Here

(CNNMoney) – Hello Chinese exports, good-bye U.S. jobs – Read More Here

(WRNGNews) – NY Government Shutdown Possible

The state budget is more than two months late. Since April, the government has been kept running on a week-to-week basis by temporary spending bills, or extenders. Read More Here

(ABCNews) – 2 million public servants on strike in Spain

Nearly 2 million Spanish state employees have stopped work in anger over government spending cuts that will see them lose about 5 per cent of their salary. Read More Here

(PressTV) – UK unemployment could reach 3 mn – Read More Here

(CNBC) – Debt Spreading ‘Like a Cancer’: Black Swan Author

The economic situation today is drastically worse than a couple years ago, and the euro is doomed as a concept, Nassim Taleb, professor and author of the bestselling book “The Black Swan,” told CNBC on Thursday.

“We had less debt cumulatively (two years ago), and more people employed. Today, we have more risk in the system, and a smaller tax base,” Taleb said. Read More Here

(USAToday) – Only a fraction of those in need file for bankruptcy – Read More Here

(Bloomberg) – Soros Says ‘We Have Just Entered Act II’ of Crisis

Billionaire investor George Soros said “we have just entered Act II” of the crisis as Europe’s fiscal woes worsen and governments are pressured to curb budget deficits that may push the global economy back into recession.

“The collapse of the financial system as we know it is real, and the crisis is far from over,” Soros said today at a conference in Vienna. “Indeed, we have just entered Act II of the drama.” Read More Here

(CNSNews) – Bernanke: ‘Things Will Come Apart’ If Entitlements Are Not Reformed and Spending Controlled

Federal Reserve Chairman Ben Bernanke delivered a frank assessment to Congress on the fate of the economy if entitlement programs are not restructured. On Wednesday, Bernanke warned that “things will come apart” if Congress allows the federal entitlement programs and the deficit spending they cause to continue on their unsustainable path. Read More Here

(MailOnline) – U.S. facing debt ‘super cycle’: $13trillion black hole to overtake country’s GDP ‘within two years’

Forecasters predict the U.S. debt will grow to surpass gross domestic product in 2012, based on data from the International Monetary Fund. Read More Here

(EconomicCollapse) – More Than 1 In 5 American Children Are Now Living Below The Poverty Line

Perhaps the greatest victims of the economic nightmare that is unfolding right in front of our eyes are our children. The overall economic numbers are really bad, but when you examine the impact that this economy is having on children things get really horrifying. Read More Here

(CNBC) – Gold’s ‘Real Move’ to $7,000 Coming: Asset Manager

The “real move” in gold is to come, predicted Egon von Gruyerz, founder of precious metals investment and storage company GoldSwitzerland.com, on Monday. Read More Here

(PressTV) – UK’s welfare system targeted for cuts

UK Chancellor George Osborne discloses that the government has targeted welfare benefits, tax credits and public sector pensions for spending cuts. Read More Here

(Chron) – Radiohead frontman: Music industry on verge of collapse

Radiohead frontman Thom Yorke is warning the music industry is on the brink of collapse, insisting young musicians should resist signing record deals because the major labels will “completely fold” within months. Read More Here

(Telegraph) – CGT: investors rush into gold coins to beat tax rise

Britain’s bullion dealers are struggling to source enough gold sovereign and Britannia coins to keep up with surging demand ahead of an expected rise in capital gains tax (CGT) in the emergency budget. Read More Here

(June 10) – Video: Gerald Celente Breaks Down The Troubled Financial World Markets on Alex Jones TV

Alex talks with Gerald Celente, renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.

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Part 2 of 7

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Part 7 of 7

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