Economy

(CSPAN) – Video: Ron Paul – Bailing out foreign governments – View Video Here

(Sky) – Video: Chinese dumping worthless DOLLARS AND EUROS for Gold

(BusinessWeek) – Video: What Good Are Economists Anyway?

Why they failed to predict the global economic crisis—and why their help is still crucial to a recovery Read More Here

(ZeroHedge) – The correction is coming and it will be a bloodbath

The correction, soon to be crash, is here: the market had a bigger relative open to close move today than it did on May 6. We closed at the day’s lows on massive volume, despite definitive central bank intervention, regardless whether it was the SNB, the ECB, or the Fed. The central planners have lost control of the market, and all thanks to the inevitable collapse of hyper capitalist Keynesianism coming out of the formerly most communist country in the world. Read More Here

(LeMonde) – The Greek People are the Victims of a Carefully Engineered Financial Extortion Racket

What is happening in Greece concerns all of us. The people are paying for a crisis and a debt that are not their own. Today it is the Greeks, tomorrow it will be others, for the same causes will produce the same effects if we allow it. Read More Here

(TimesOnline) – Euro in danger: Germans trigger panic over future of single currency – Read More Here

(ZeroHedge) – Pan-European Bank Run Is Now On: Capital Flight From UK To Switzerland, As GBPCHF Intervention Strikes Next – Read More Here

(Reuters) – Wall Street slumps on euro-zone fears

Stocks dropped on Thursday, with all major indexes sliding more than 3 percent on growing fears that the euro zone’s handling of its sovereign debt crisis could jeopardize the global economic recovery. Read More Here

(RussiaToday) – Video: Euro Collapse Looms? Engdahl on Naked Short Selling Ban

Germany’s Chancellor Angela Merkel says the Euro currency is at risk and that Europe faces its greatest challenge since the EU was formed. It comes as stock markets in Europe and Asia tumbled on the surprise news that Berlin was banning types of ’short selling’ where investors profit by betting that shares will drop in value.

Economic Headline Doom News With Links

Financial Reforms ‘Cosmetic’ , Wont Stop More Crisis : Roubini
Report: Increase in Payroll Taxes Needed for Social Security
Home Building Gains Likely to Fade with Tax Credit
Texas Doctors Opting Out of Medicare at Alarming Rate
Oklahoma : $200 Million in Delinquent Taxes Uncollectible
Hawaii Foreclosures Filing Soar 115% in April
Gov. Paterson NY Threatens Cutting 10,000 Jobs
More Store Closing Hit Grand Avenue Downtown Milwaukee Shopping Center
Small Businesses not hiring
Video: The Growing Gap Between Rich and Poor
Oyster Industry Takes Hit From Oil Spill
Why Greece Should Consider Default
Mayor Bell: Announces City of Birmingham 10% Cut in Workers Pay
Yonkers School District NY, Trying to Close $43 Million Deficit
Investors Should Avoid Banks at all Cost: Meredith Whitney

(HousingWire) – FBI Mortgage Fraud Investigations Jump 400% in Five Years

FBI investigations of mortgage fraud increased 400% in 2009, compared with five years earlier, according to an Office of Thrift Supervision (OTS) report on fraud and insider abuse (download here). Read More Here

(Bloomberg) – Jobless Claims in U.S. Unexpectedly Increase as Dismissals Remain Elevated

More Americans unexpectedly filed applications for unemployment benefits last week, showing firings remain elevated even as employment climbs. Read More Here

(Reuters) – Greek strikers march on parliament against austerity

Thousands of striking Greeks marched peacefully to parliament on Thursday in a protest against government austerity measures that was much smaller than a huge rally that led to rioting on May 5. Read More Here

(WebsterTarpley) – Tentative First Steps in Europe’s Self-Defense Against Zombie Bankers and Hedge Fund Hyenas

Germany and Europe have now made some promising initial steps in the direction of their necessary self-defense against the depredations of those zombie banks and hedge fund hyenas who have been organizing a massive speculative attack on Greece, Spain, Portugal, and Italy with a view to destabilizing the euro and perpetuating the world hegemony of the troubled US dollar. Read More Here

(ZeroHedge) – Video: Live Feed From Athens As 100,000 Greeks Go On Strike, Consider Storming Parliament Again

The last time Greeks were shown to be storming their parliament on live TV, we got a 1,000 point drop on the Dow Jones. Today, another 100,000 protesters of austerity are expected to hit the streets as the entire country is essentially shut down. View Live Here

(BusinessInsider) – MARKETS CRUSHED: FLASH CRASH THURSDAY 2.0? – Read More Here

Video: Celente – 2010 Year of the Bubble

Trends forecaster predicts the complete collapse of the dollar. – Video Link Here

(GoldScents) – FOCUS ON WHAT MATTERS

I know this is hard to do, especially when one is weathering draw downs. And of course a liberal dose of gloating from the bears during these times doesn’t help either. But let’s not get sidetracked by the little things and let’s face it, the haters are going to show up every time gold corrects. We really should be used to that by now. They’ve been doing it for 10 years. Read More Here

(TheLoomingDoom) – Superhyperinflation Just Around The Corner

The Looming Doom has learned leading experts are advising the Obama Administration that the U.S. is poised to experience the most painful economic cycle of all: the Super-Hyper-Inflation Trauma (SHIT). While there is yet slight division amongst the experts as to whether the U.S. is already in SHIT or not, once the U.S. is fully in deep SHIT, there is no quick fix. Furthermore, if the SHIT is too deep, the economy may never recover. Continue reading

Economy

(LewRockwell) – Beware the Recent Situation in Greece: It Will Happen Here! – Gary D. Barnett – Read More Here

(WashingtonsBlog) – Mervyn King: “World’s Worst Financial Crisis Ever”

Bank of England Governor Mervyn King says: “We are still halfway through the world’s worst financial crisis ever.” He is in good company.

The following experts have said that the economic crisis could be worse than the Great Depression: Read More Here

(CalculatedRisk) – California: “Absolutely terrible” budget cuts to be announced at 4 PM ET – Read More Here

(YahooFinance) – Video: TechTicker – Dow Tumbles as “Disintegration” Fears Haunt Europe

Hopes that a massive $1 trillion bailout for Europe would hold the financial markets together came unglued Friday. Stocks tumbled around the world and the U.S. followed suit. Heading into the close, the Dow was down more than 230 points. – Video Link Here

(GeorgeWashingtonBlog) – The Bailout of Big American Banks Has Cost Trillions More Than We’ve Been Told

Granted, the $700 billion dollar TARP bailout was a massive bait-and-switch. The government said it was doing it to soak up toxic assets, and then switched to saying it was needed to free up lending. It didn’t do that either. Indeed, the Fed doesn’t want the banks to lend.

True, as I wrote in March 2009: Read More Here

(MarketWatch) – The second debt storm

The debt mountain that brought down some of the world’s biggest banks and dragged the international financial system to the brink of disaster has simply shifted to governments. Now it’s threatening countries around the globe — and, if left unchecked, could rip the very fabric of Europe’s economic system and wreck economic recoveries in the U.S., China and Latin America. Read More Here

(USAWatchdog) – Is the Financial System Corrupt?

Recent headlines coming out of the financial world have been jaw dropping. Here are a few: Read More Here

(WSWS) – US media demands Greek-style austerity for American workers

In recent days, the US media—led by the standard bearer of American liberalism, the New York Times—has insisted that workers in the US, like their brethren in Greece, have been living the good life for far too long and must accept a drastic and permanent reduction in their living standards. Read More Here

(CNBC) – Video: The Economy & Your Portfolio with Rick Santelli ‘This European Crisis Should Be A Wake Up Call’

A look at the big issues facing the economy and how investors are playing them, with Michael Pento, of Delta Global, and Jordan Kimmel, of National Securities. Video Link Here

FLASHBACK – (WashingtonExaminer) – In 2005, U.S. intelligence warned of Euro econ crisis and EU’s demise unless welfare states downsized

In 2005, the National Intelligence Council prepared a prescient report warning that overextended welfare states could lead to economic crisis and possibly the collapse of the European Union sometime in the next 15 years: Read More Here

(FinanceMarkets) – US banks under investigation

Eight Wall Street banks are facing an investigation following allegations that they provided misleading information to several ratings agencies in order to gain a better rating for mortgage securities. Read More Here

(ChartingStocks) – Dollar Jump Resembles ‘08 Crash

On Wednesday, I wrote about the troubling signal given by the Volatility Index (VIX) as it surged in a manner which resembled the 2008 crash. Today we can add another market indicator to the “trouble” list – The US Dollar. Read More Here

(AlethoNews) – New Iran sanctions bill to kill 20,000 US jobs each year

Major US firms are warning Congress against passing legislation to impose new sanctions against Iran, saying such sanctions will further damage the US economy.

Boeing Co. and Exxon Mobil Corp. are lobbying to fend off tightened sanctions against Iran that business groups say will cut US exports. Read More Here

Video: The New World Order Currency Crisis

(Kitco) – Five Facts You Need to Know About the Financial System

Let’s connect the dots on the ENTIRE financial system right now. Read More Here

(LondonTelegraph) – US faces same problems as Greece, says Bank of England

Mervyn King, Governor of the Bank of England, fears that America shares many of the same fiscal problems currently haunting Europe. He also believes that European Union must become a federalised fiscal union (in other words with central power to tax and spend) if it is to survive. Just two of the nuggets from one of the most extraordinary press conferences I have been to at the Bank. Read More Here

(LondonGuardian) – Nicolas Sarkozy threatened to pull France out of the euro

French president Nicolas Sarkozy threatened to pull his country out of the euro if other EU countries, especially Germany, did not agree to help rescue debt-laden Greece. Read More Here

(Bloomberg) – Volcker Sees Euro ‘Disintegration’ Risk From Greece

Former Federal Reserve Chairman Paul Volcker said he’s concerned that the euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region’s members. Read More Here

(InfoClearingHouse) – Financial Chaos And The Smell Of Napalm In The Morning

What in God’s name should we make of it all? On Thursday, the New York Stock Exchange had its most severe plunge in history – nearly 1000 points, before it recovered minutes later. On Monday, it shot up 400 points, one of the biggest spikes in memory. All told, the variance was around 1400 points over the period of a couple of days.

The context for this, of course, is the financial turmoil that has spread from Greece and is sweeping across Europe, threatening the very existence of the European Union and the Euro as a common currency. Last week alone, it is estimated that global stock markets lost $3.7 trillion of their value as a result of this crisis (1). According to the Canadian finance minister Jim Flaherty, not even the Canadian economy is immune from the financial contagion. Read More Here

(EconomicPolicyJournal) – Geithner Briefs Super Power Elite, Friday Afternoon

In addition to Rockefeller and Lady de Rothschild, on Friday afternoon, Treasury Secretary Geithner will also meet with the other members of the Board of Directors of the Peter G. Peterson Institute for International Economics to discuss the Administration’s agenda for economic growth and strengthening the global financial system.

Here’s the hefty list of the Institute’s Board of Directors: Read More Here

(HomeSolutionCounselors) – You are not in default. Freddie Mac is making your payments!

Yes it is true. I have seen it with my own eyes and IN WRITING. In our office we have on record a statement from Freddie Mac, which they submitted to the courts, that “Freddie Mac has made all relevant and required payments to the investors on behalf of the borrowers.” Did you catch that?!?!

Yes, Freddie Mac acting as the Master Servicer, has been making payments to the debt owners of a mortgage. How can the borrower be in default? Read More Here

(Bloomberg) – Euro Breakup Talk Increases as Germany Loses Its Currency Proxy

What was conceived as a club for Europe’s strongest economies was expanded for political reasons, leaving the currency union with minimal powers to police deficit spending and no safety net for dealing with countries, like Greece, that veer toward default.

German officials are already debating what was unthinkable to the euro’s architects: that a currency union designed in its founding treaty to be “irrevocable” might not be. Finance Minister Wolfgang Schaeuble said March 12 that expulsion from the euro may be the ultimate penalty for serial violators of debt rules. Read More Here

Video: Max Keiser Reveals 1000 Point Plunge was Digital Financial Terrorism on Alex Jones

(May 10) – Alex talks about the recent plunge of the Dow and other financial issues with film-maker, broadcaster and former broker and options trader Max Keiser. Max is the host of On the Edge and the financial tabloid the Keiser Report. Keiser formerly hosted The Oracle with Max Keiser on BBC World News. Continue reading

One CT Scan Can Equal Up To 1,000 Chest X-Rays: 29,000 New Cancers From CT Scans? – J. Speer-Williams

Many years ago, I was in the coal-mining business, in West Virginia. It was there that I had an interesting conversation with a grizzled old coal-miner, who had once been trapped deep underground, after a cave-in.

“When I heard the rumblings of that cave-in getting closer to me,” he said, “well … that put me to thinking.”

When suddenly assaulted by an intemperate crisis, most of us are thrown into a state of fear, which inhibits any thinking. But perhaps, the old miner was simply calling the fear he must have felt – “thinking.”

Today, historic dangers are at hand for Americans, from almost every quarter, from our federal government to the pharmaceutical/medical combine, throwing some of us into a paralytic fear, with still fewer of us able to give our precarious situation much thought at all. The despotic triumvirate of the federal government, international banks, and multi-national corporations have made life much like trying to transverse a mine-field, without many of us knowing where the land mines are, and many more not even knowing they are in a mine field; such is their desire to avoid being fearful or inconvenienced with thinking. Continue reading

60 Aerospace Engineers Call for New 9/11 Investigation

As the number of verified architect and engineer petitioners at AE911Truth passes 1,000, the number describing themselves as aerospace engineers, or as engineers who have contributed professionally to the aerospace field, exceed sixty. These sixty-plus engineers were motivated to place their names on the public record as a matter of professional and social responsibility. While the skills necessary to conduct professional forensic analysis of destroyed buildings is largely distinct from those experienced in aerospace engineering, the basic physical laws involved in an analysis of the speed, symmetry, and energy input/output balance of the World Trade Center’s destruction involve only high school physics and chemistry, some lookups regarding the energy necessary to crush concrete, and basic arithmetic. Continue reading

Video: Webster Tarpley – Say Hello to Jingle Mail

Webster describes what the meaning of Jingle Mail as the retail – commercial and real estate market is on the verge of collapse.. Continue reading

Video: $1000 Per Day Fine And 30 Days In Jail For Refusing The Swine Flu Vaccine In Massachusetts?

A new law just passed in Massachusetts imposes fines of up to $1000 per day and up to a 30 day jail sentence for not obeying authorities during a public health emergency. So if you are instructed to take the swine flu vaccine in Massachusetts and you refuse, you could be facing fines that will bankrupt you and a prison sentence on top of that. Continue reading

Florida Candidate For Mayor Wants 1,000-Strong Youth Spy Force

Falconer proposes swarms of citizen informers casing neighborhoods looking for suspicious behavior Continue reading

Video: We Need Sunlight to Disinfect the Legislative Process! – Ron Paul

(C4L) – During August recess, many legislators have heard an unexpected amount of discontent from their constituents about what is happening on Capitol Hill, particularly regarding healthcare. Some people are justifiably terrified at what the government could do to healthcare, should it get its claws even further into it. Continue reading

MSM: Drug to combat swine flu leaves ‘1,000 patients in suffering’

(Ind) – Health officials yesterday defended the Government’s policy of giving the antiviral drug Tamiflu to everyone claiming to be suffering from the symptoms of swine flu despite more than 400 reports of adverse drug reactions since the start of the outbreak. Continue reading

Obama Health Plan’s Dirty, Tyrannical, Hidden Secrets

Hidden in the over 1,000 pages of Obama’s dictatorial health plan… Continue reading

MSM: Senate bill fines people refusing health coverage

(Washington) – Americans who refuse to buy affordable medical coverage could be hit with fines of more than $1,000 under a health care overhaul bill unveiled Thursday by key Senate Democrats looking to fulfill President Barack Obama’s top domestic priority. Continue reading