Economy

(OregonLive) – Portland lemonade stand runs into health inspectors, needs $120 license to operate – Read More Here

(CharlieVLog) – Video: More Extend and Pretend – View Video Here

(WSJ) – Do the Rich Need the Rest of America?

As stocks boomed, the wealthy bounced back. And while the Main Street economy was wracked by high unemployment and the real-estate crash, the wealthy–whose financial fates were more tied to capital markets than jobs and houses– picked themselves up, brushed themselves off and started buying luxury goods again. Read More Here

(AntiFascistCalling) – Financial Fraud, The Laundering of Drug Money and the CIA – Tom Burghardt

Last year, when a federal court in Texas handed down indictments charging Stanford International Bank (SIB) and its officers with “orchestrating a fraudulent, multibillion dollar investment scheme,” I wondered: was there more to the story?

Indeed there was. Read More Here

(MotherJones) – EXCLUSIVE: Fannie and Freddie’s Foreclosure Barons

How the federal housing agencies—and some of the biggest bailed-out banks—are helping shady lawyers make millions by pushing families out of their homes. Read More Here

(WebOfDebt) – Escaping the Sovereign Debt Trap: The Remarkable Model of the Commonwealth Bank of Australia – Ellen Brown

The current credit crisis is basically a capital crisis: at a time when banks are already short of the capital needed to back their loans, capital requirements are being raised. Nearly a century ago, the Commonwealth Bank of Australia demonstrated that banks do not actually need capital to make loans – so long as their credit is backed by the government. Denison Miller, the Bank’s first Governor, was fond of saying that the Bank did not need capital because “it is backed by the entire wealth and credit of the whole of Australia.” With nothing but this national credit power, the Commonwealth Bank funded both massive infrastructure projects and the country’s participation in World War I. Read More Here
(Boston) – Food stamp use hit record 40.8m in May

Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 19 percent from a year earlier and increased 0.9 percent from April, the US Department of Agriculture said in a statement on its website.

Participation has set records for 18 straight months. Read More Here

(Bloomberg) – Secret Banking Cabal Emerges From AIG Shadows: David Reilly

The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all. Read More Here

(WPost) – EPA left to pick up where Congress left off — ‘Will soon begin regulating greenhouse gases factory by factory, power plant by power plant’

The Obama administration told Congress to find a way to regulate greenhouse gases — or else.

Last month, Congress refused: Democratic leaders in the Senate declined to take up climate legislation before their August break, which means it looks effectively dead for this session.

Now the White House is stuck with “or else.” Read More Here

(USAToday) – Golf clubs suffer in recession as membership dwindles – Read More Here

(DowJones) – UPDATE: General Motors To Invest $500M In Mexico Plant

U.S. automobile giant General Motors Co. said Tuesday it plans to invest close to $500 million in its Ramos Arizpe plant in northern Mexico … Read More Here

(VPR) – Budget Crunch Hits Atlantic City Hard – Read More Here

(InfoWeek) – U.S. To Train 3,000 Offshore IT Workers

$22 million, federally-backed program aims to help outsourcers in South Asia become more fluent in areas like Java programming—and the English language. Read More Here

(Bloomberg) – Secret Banking Cabal Emerges From AIG Shadows: David Reilly

The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.

Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials. Read More Here

(DailyFinance) – Seven Reasons Not to Send Your Kids to College

In my view, the entire college degree industry is a scam, a self-perpetuating Ponzi scheme that needs to stop right now. Read More Here

Video: Ed Schultz – Wall Street Treats American Workers Like Roadkill –

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