Economy

(BusinessInsider) – Greek Communists Say IMF-Imposed Austerity Means “Dachau Conditions For Life”

Greek communists are cranking up the rhetoric against IMF-imposed austerity measures, now calling for war against the Athens government. Read More Here

(TheStreet) – Gold Prices Top Record, Break $1,260 – Read More Here

(Bloomberg) – Greenspan Says U.S. May Soon Reach Borrowing Limit

Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a “tectonic shift” in fiscal policy to contain borrowing. Read More Here

(Fool) – The Coming Financial Meltdown

The problem is getting worse. Notional amounts of derivatives held by federally insured banks have risen to more than $200 trillion. Read More Here

(MyNews4) – Video: Nevada’s unemployment rate to reach No. 1 in U.S. – View Video Here

(PaulWatson) – Obama Plans To Sneak Through Carbon Tax By Stealth

Job killing, economy wrecking, middle class destroying consumption tax to be added in lame duck session after November elections Read More Here

(WebOfDebt) – Hyperinflation or Deflation? Dramatic Fiscal Austerity Measures: “Deficit Terrorists” Strike in the UK — The USA is Next – Ellen Brown

Last week, England’s new government said it would abandon the previous government’s stimulus program and introduce the austerity measures required to pay down its estimated $1 trillion in debts. That means cutting public spending, laying off workers, reducing consumption, and increasing unemployment and bankruptcies. It also means shrinking the money supply, since virtually all “money” today originates as loans or debt. Reducing the outstanding debt will reduce the amount of money available to pay workers and buy goods, precipitating depression and further economic pain. Read More Here

(Reuters) – Philly Fed Factory Activity Index Plummets in June

Factory activity growth plummeted in the Mid-Atlantic region in June, a survey showed on Thursday, adding to worries that the short and tepid U.S. economic recovery is now fizzling. Read More Here

(StarTribune) – Video: In jail for being in debt

You committed no crime, but an officer is knocking on your door. More Minnesotans are surprised to find themselves being locked up over debts. Read More Here

(EconomicPolicyJournal) – Swiss Legislators Sell American Tax Evaders Down the River to Bailout Big Bank

The legislators have approved a law that clears the way for the government to hand over the names of thousands of alleged U.S. tax evaders to the Internal Revenue Service, dodging the risk that the U.S. would reopen a bruising tax case against Swiss bank UBS AG, according to WSJ. Read More Here

(RawStory) – US jobless claims in surprise rise

New claims for jobless insurance benefits in the United States rose unexpectedly for the second straight week, the government said Thursday on concerns unemployment may derail the economic recovery. Read More Here

(NBCSandiego) – New Wave of Cuts at Union-Tribune: Sources

The San Diego Union Tribune told employees Thursday the company is cutting close to 40 newsroom positions, according to sources. Read More Here

(Bloomberg) – Illinois Debt-Default Insurance Climbs to Record High (Update1)

“If the spread is the widest, it says the problem is bigger than it’s ever been before,” said Peter Hayes, who oversees $106 billion of municipal bonds for New York-based BlackRock Inc. “It’s a reaction to the inability to pass a budget. We’ve seen a greater unwillingness from Illinois and the market is reacting to that.” Read More Here

BREAKING – (SCMLA) – Video: Banks In Oaxaca, Mexico No Longer Accept American Dollars

SoCal Martial Law Alerts (SCMLA) interviewed Lee, an American who discovered while on a recent (Christian) mission trip to Oaxaca, Mexico, that Mexican banks will no longer exchange American dollars for Mexican pesos.

Lee said that, when he first arrived in Oaxaca two weeks ago, the banks would still exchange American dollars for Mexican pesos, but then when he accompanied a friend to a Mexican bank approximately one week ago, that’s when he discovered the policy change regarding dollar-to-peso currency exchanges. Continue reading

MSM: The image Microsoft doesn’t want you to see – Too tired to stay awake, the Chinese workers earning just 34p an hour

(DailyMail) – Showing Chinese sweatshop workers slumped over their desks with exhaustion, it is an image that Microsoft won’t want the world to see.

Employed for gruelling 15-hour shifts, in appalling conditions and 86f heat, many fall asleep on their stations during their meagre ten-minute breaks. Continue reading

How Big Pharma Profits From Fear

With Big Pharma raking in billions off swine flu fears, the last thing they need is a government handout.
Yet Uncle Sam is busy playing Daddy Warbucks with YOUR lunch money, helping Swiss drugmaker Novartis open a new vaccine plant in North Carolina. You’ve generously contributed around $700 million to help Novartis build their shiny new drug factory — $220 million three years ago, and $486 million this year. Continue reading

America’s Warfare State – Lining the pockets of Pentagon contractors

“On my last day in Iraq,” veteran McClatchy News correspondent Leila Fadel wrote August 9th, “as on my first day in Iraq, I couldn’t see what the United States and its allies had accomplished. …I couldn’t understand what thousands of American soldiers had died for and why hundreds of thousands of Iraqis had been killed.” Continue reading

American apocalypse – 5 likeliest scenarios to topple the US

Which is your favorite apocalyptic scenario? If you really had to choose would it be the intergalactic stand-off? Zombie plague? Continue reading

Americans are Victims of Undeclared War that Makes Universal Healthcare Unaffordable

(NaturalNews) – As all the pushing and shoving over universal health care coverage moves into high gear, one thing remains indisputable. If Americans were healthy the costs of insuring them would be a whole lot less, and coverage could easily be provided for all without breaking a sweat. Continue reading

FDA Seeks Power to Dictate Farming Practices Nationally

House Resolution 2749 (read it here) is a bill which would give the power to a Food and Drug Administration official to decide what can and can’t be done in farming.  It allows for perpetrators of a basically unnamed offense to be prosecuted and receive up to ten years in prison and be assessed $100,000 fines.  Per offense. Continue reading

Estrogen Linked To Lowered Immunity In Fish

Exposure to estrogen reduces production of immune-related proteins in fish. This suggests that certain compounds, known as endocrine disruptors, may make fish more susceptible to disease. Continue reading

Venezuela: ‘When the working class roars, capitalists tremble’

Addressing the 400-strong May 21 workshop with workers from the industrial heartland of Guayana, dedicated to the “socialist transformation of basic industry”, Venezuelan President Hugo Chavez noted with satisfaction the outcomes of discussions: “I can see, sense and feel the roar of the working class.” Continue reading

MSM: North Korea to move intercontinental missile: report

(Reuters) – North Korea is preparing to move an intercontinental ballistic missile from a factory near Pyongyang to a launch site on the east coast, a South Korean newspaper quoted a source in Washington as saying on Saturday. Continue reading

WHO takes a page from a Michael Crichton Novel

As the late great American poet Yogi Berra might have put it, ‘this just gets absurder and absurder.’ The international agencies supposedly responsible for monitoring worldwide dangers of new pandemic threats, the WHO and CDC are acting like the directors of a Hollywood ‘B’ grade sci-fi movie or the author of a copycat version of Michael Crichton’s Andromeda Strain novel. Continue reading

MSM: GM to cut 21,000 US factory jobs, shed Pontiac

General Motors Corp. could be majority owned by the federal government under a massive restructuring plan laid out Monday that will cut 21,000 U.S. factory jobs by next year and phase out the storied Pontiac brand. Continue reading

Does the US Make Anything Anymore?

It may seem like the country that used to make everything is on the brink of making nothing.

In January, 207,000 U.S. manufacturing jobs vanished in the largest one-month drop since October 1982. Factory activity is hovering at a 28-year low. Even before the recession, plants were hemorrhaging work to foreign competitors with cheap labor. And some companies were moving production overseas. Continue reading

GM to temporarily close 20 plants to slash output

General Motors Corp. said Friday it will temporarily close 20 factories across North America and make sweeping cuts to its vehicle production as it tries to adjust to dramatically weaker automobile demand.

GM said it will cut 250,000 vehicles from its production schedule for the first quarter of 2009, which includes a cut of 60,000 vehicles announced last week. Normal production would be around 750,000 cars and trucks for the quarter, spokesman Tony Sapienza said. Continue reading