Video: 1 in 3 homeless are US Veterans – Adam Kokesh

(RussiaToday) – Too often many of the homeless in America are former US military personnel who have fell on hard times, are addicted to medication and drugs or simply just need some help. Joining RT’s Dina Gusovsky Iraq war veteran Adam Kokesh speaks about veterans’ homelessness and the reasons behind it.

Economy

(PressTV) – Goldman profited from market crash

A US Senate panel has revealed emails that show Goldman Sachs Group Inc profited massively by engaging in the sale of investments that were structured to fail. Read More Here

(1010Wins) – Hundreds Camp Out in Queens Hoping for Elevator Jobs

Hundreds of job seekers camped out over the weekend at a union office in Queens hoping to be first in line for a chance to apply for an internship in the field of elevator repair. Read More Here

(Sky) – Goldman’s Frankenstein Moment

If the knives were out for Goldman Sachs before today, they’re now hovering perilously close to the Wall Street bank’s throat – and Adair Turner, chairman of the Financial Services Authority, is likely to be paying particularly close interest. Read More Here

(PRNewsWire) – U.S. Food Inflation Spiraling Out of Control

The Bureau of Labor Statistics (BLS) today released their Producer Price Index (PPI) report for March 2010 and the latest numbers are shocking. Food prices for the month rose by 2.4%, its sixth consecutive monthly increase and the largest jump in over 26 years. NIA believes that a major breakout in food inflation could be imminent, similar to what is currently being experienced in India. Read More Here

(WSJBlog) – Number of the Week: 103 Months to Clear Housing Inventory

All this means that little can stop banks’ inventory of distressed homes from growing. Too many people owe too much more on their homes than they can afford. For the housing market, that could mean a long-lasting hangover. Read More Here

(Fox) – GM Used Bailout Money to Repay Loan

A top Senate Republican on Thursday accused the Obama administration of misleading taxpayers about General Motors’ loan repayment, saying the struggling auto giant was only able to repay its bailout money by dipping into a separate pot of bailout money. Read More Here

(GlobalResearch) – For $10 Billion of “Promises” Haiti Surrenders its Sovereignty

It was fitting that the Mar. 31 “International Donors Conference Towards a New Future for Haiti” was held in the Trusteeship Council at the United Nations headquarters in New York. At the event, Haitian President René Préval in effect turned over the keys to Haiti to a consortium of foreign banks and governments, which will decide how (to use the conference’s principal slogan) to “build back better” the country devastated by the Jan. 12 earthquake. Read More Here

(Technocrati) – Thousands Of Teachers To Be Laid Off – What Economic Recovery?

Thousands of teachers are about to lose jobs in many states. To manage massive budget deficits, several layoff notices were sent out to 22,000 teachers in California, 17,000 in Illinois, and 15,000 in New York. The numbers are expected only to increase in the coming months. Read More Here

(RawStory) – E-mails Show Goldman Execs Boasting as Housing Meltdown Unfolded

Goldman Sachs’ top executives were aware that the company made money by playing against the US housing market, according to internal e-mails released Saturday. Read More Here

(OpEdNews) – Profiling CEOs and Their Sociopathic Paychecks

One of the questions often asked when the subject of CEO pay comes up is, “What could a person such as William McGuire or Lee Raymond (the former CEOs of UnitedHealth and ExxonMobil, respectively) possibly do to justify a $1.7 billion paycheck or a $400 million retirement bonus?” Read More Here

Video: Gullible Nation – More False Hope

Very Good Reason to Believe Home Prices Will Collapse – Peter Schiff

The latest housing initiative announced today by the Obama Administration draws the U.S. government and, by proxy, all taxpaying Americans, further into the inescapable quagmire of a devastated real estate market.

Economy

(HousingDoom) – Housing Is Too Big To Fix, Not Too Big To Fail

The government, believing that a correction in house prices would be catastrophic, has tried to put a floor under the housing market. It’s not working: Read More Here

(DalasNews) – Dallas-Fort Worth commercial foreclosure filings top $1 billion

Commercial property foreclosure filings in the Dallas-Fort Worth area top $1 billion for the upcoming April sales. Read More Here

(Money&Markets) – Bernanke Running Amuck

Fed Chairman Bernanke is running amuck, and for the first time since the birth of the U.S. dollar, our government is egregiously abusing its power to print money. Read More Here

(Telegraph) – Has Germany just killed the dream of a European superstate?

So after weeks of Euro-bluff it looks ever more like an IMF rescue for Greece after all, and hence for any other eurozone nation driven to ruin by the wrong monetary policy. Read More Here

The next big bailout is on the way. Prepare to get reamed! – Mike Whitney

(SmirkingChimp) – Housing is on the rocks and prices are headed lower. That’s not the consensus view, but it’s a reasonably safe assumption. Master illusionist Ben Bernanke managed to engineer a modest 7-month uptick in sales, but the fairydust will wear off later this month when the Fed stops purchasing mortgage-backed securities and long-term interest rates begin to creep higher. The objective of Bernanke’s $1.25 trillion program, which is called quantitative easing, was to transfer the banks “unsellable” MBS onto the Fed’s balance sheet. Having achieved that goal, Bernanke will now have to unload those same toxic assets onto Freddie and Fannie. (as soon as the public is no longer paying attention)

Video: Marc Faber on The Alex Jones Show – World Economy Is Doomed

Alex talks with contrarian investment analyst and entrepreneur Marc Faber. Faber publishes the monthly investment newsletter The Gloom Boom & Doom Report. On March 9 2009, he correctly predicted a U.S. stock market bottom.

Video: Peter Schiff On CNBC

Januray 4, 2010

Video: Keynesianism Delivers a Decade of Zero – Ron Paul

(C4L) – This past week we celebrated the end of what most people agree was a decade best forgotten. New York Times columnist and leading Keynesian economist Paul Krugman called it the Big Zero in a recent column. He wrote that “there was a whole lot of nothing going on in measures of economic progress or success” which is true. However, Krugman continues to misleadingly blame the free market and supposed lack of regulation for the economic chaos.

The Ponzi Decade: A Lost Decade in Stocks, Industrial Production, U.S. dollar, and Housing

(MyBudget360) – How we Managed to Inflate and Destroy the Biggest Financial Bubble of our Generation.

Video: Goldman Sachs Imploded The Housing Market

(Fox) – Treasury Department is covering up Goldman Sachs involvement in the housing market collapse..

Review of Financial Markets: The Call from Obama is for more Leverage and more Debt

(BobChapman) – Congressional appropriators agreed Tuesday night to give civilian federal employees a 2 percent pay increase — which includes a locality pay increase President Obama didn’t want.

MSM: U.S. Homeowners Lost $5.9 Trillion Since 2006 Peak

(Bloomberg) – U.S. homeowners have lost about $5.9 trillion in value since the housing market’s peak in March 2006 as mounting foreclosures and the recession weighed on prices, according to Zillow.com.

The Recipe for Disaster

Unemployment in the United States is now officially at 10.2%. Add in those individuals that no longer receive unemployment benefits, are no longer looking for a job, or for some other reason are not included in the above number and you are at 20% unemployment. Not a pretty figure.

Canada’s Sub-Prime Mortgage Time Bomb

What do the mid-recession housing boom and the Harper Conservatives’ rise in the polls have in common? Answer: the Canada Mortgage and Housing Corporation’s massive sub-prime mortgage scheme that is keeping up the appearance of an economic recovery.

Video: Greg Gordon on Alex Jones Tv – Goldman Sachs’s Little Secret!!

Greg Gordon, a reporter for McClatchy Newspapers, talks with Alex about Goldman Sachs Group peddling more than $40 billion in securities backed by at least 200,000 risky home mortgages and never telling the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.

How Goldman secretly bet on the U.S. housing crash

In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.

Video: Jerome Corsi – America for Sale

(Fox) – “The Giving away of the United States has never been greater than under Barack Obama” – Corsi

How a Crashing Dollar Hides Trends

Many Americans have a hard time wrapping their mind around a declining currency or the hidden tax that is inflation.  The U.S. Treasury and Federal Reserve understands this and for decades has exploited this issue to slowly siphon off the buying power of the U.S. dollar.

MSM: Foreclosures Force Ex-Homeowners to Turn to Shelters

(NYTimes) – The first night after she surrendered her house to foreclosure, Sheri West endured the darkness in her Hyundai sedan. She parked in her old driveway, with her flower-print dresses and hats piled in boxes on the back seat, and three cherished houseplants on the floor. She used her backyard as a restroom.

Twenty-Two Reasons Why this Recession is Different and Why it Will Endure

I find it surprising that I’m now getting inquiries from readers, asking if “we’ve reached bottom” in the current economic recession, and asking if the time has come to start buying stocks or residential real estate. It seems that the talking heads of mainstream media are using some sort of voodoo. How can anyone think that we’ve hit bottom, and an economic recovery is in progress? To dispel the myths from the CNBC Cheering Section, please consider the following. (And note that I’ve provided references for each assertion, just so you know that I’m not talking out of my camouflage hat.):

Video: Gerald Celente on Social Security

Russia Today – October 17th, 2009

Rich Uncle Pays Your Mortgage – Lew Rockwell

The economic meltdown has put the country on the fast track to socialism, but through a series of tiny steps. One need only to examine the supposed victories in the war on depression to see how this is happening. The latest is the claim that the Obama administration has successfully renegotiated many mortgage obligations in a way that allows people to keep their homes.

Obama wins Nobel Peace Prize! Hell freezes over!

Obama has won the 2009 Nobel Peace Prize, having been nominated for it just two weeks into his Presidency.
Let’s take a look at some of the reaction.

Second Stimulus or Hair of the Dog?

(C4L) – Is the answer to an economic hangover to get more drunk?

Congresswoman Kaptur: There Has Been a Financial Coup D’Etat

In Michael Moore’s new film Capitalism: A Love Story, Congresswoman Kaptur says there has been a financial coup d’etat, and that Wall Street – rather than Congress – is in charge.

Wall Street Titans Use Aliases to Foreclose on Families While Partnering With a Federal Agency

A federal agency tasked with expanding the American dream of home ownership and affordable housing free from discrimination to people of modest means has been quietly moving a chunk of that role to Wall Street since 2002.

Commercial Real Estate: The Shoe Dropped In California

(BusinessInsider) – More proof that the commercial real estate
crash is coming: hotel foreclosures in California have more than tripled in the first nine months of this year, according to Bloomberg.

U.S. Suffering Permanent Destruction of Jobs

America is suffering a permanent destruction of jobs.
JPMorgan Chase’s Chief Economist Bruce Kasman told Bloomberg:

[We’ve had a] permanent destruction of hundreds of thousands of jobs in industries from housing to finance.

Video: Marc Faber and Nouriel Roubini

(CNBC) – Squawk Box – October 1st, 2009

Video: Ron Paul – “The Federal Reserve is There to Accommodate the Politicians”

(Bloomberg) – On Wednesday, Congressman Paul appeared on Bloomberg TV to discuss the Fed’s role in creating the financial crisis, how it has destroyed our economy, and the alternative presented by a free market.

Video: You Can’t Solve an Existing Bubble by Creating a New One! – Ron Paul

(MSNBC) – Congressman Paul discusses the failures of Keynesian economics, the true cause of the financial crisis, and the need to end the Fed

Poverty hits 1 in 8 Americans

About 2.5 million Americans slipped below the poverty line as recession and layoffs hammered the economy last year, driving poverty to its highest level since 1998, the U.S. Census Bureau reported Thursday.

Want to Fight Deflation? Give a Worker a Raise

The slight rebound in housing looks a lot different when one considers how much the Fed is meddling in the market. Fed chair Ben Bernanke has purchased $240 billion in US Treasuries to keep long-term interest rates artificially low while–at the same time–buying $740 billion in Fannie Mae and Freddie Mac mortgage-backed securities (MBS) to provide the financing for new home buyers. It’s the double-whammy; and that’s not all.

The U.S. Invades and Occupies Pakistan

We are watching it happen in the streets. The recurring nightmare has become a grim, new reality for the people of Pakistan. After watching the horrors of the U.S. invasions and occupations of Iraq and neighboring Afhanistan for 8 years, the “war on terror” has finally arrived in The Land of the Pure.

Growing Poverty and Despair in America

In 1962, Michael Harrington’s “The Other America” exposed the nation’s dark underside enough for John Kennedy to ask his Council of Economic Advisor chairman, Walter Heller, to look into the problem and for Lyndon Johnson to say (on January 8, 1964) that his administration “today, here and now, declares unconditional war on poverty in America.”

2008 Financial Collapse: An Inside Job – Robert Singer

(Dprogram Exclusive) – Maybe it’s the smoke from Mt. Vesuvius that keeps Arianna Huffington and the financial community from seeing that the economic collapse has nothing to do with the Fed “missing” the warning signs leading up to the October meltdown.

The Economy is in Deep, Deep Trouble…

Booyah. It’s morning in America. The jobless numbers are stabilizing, the stock market is sizzling, quarterly earnings came in better than expected, traders have turned bullish, housing is showing signs of life, and clunker-swaps have given Detroit a well-needed boost of adrenalin. Even Cassandra economists –like Paul Krugman and Nouriel Roubini–have been uncharacteristically optimistic. Is is true; did we avoid a Second Great Depression? Is the worst really behind us?

MSM: Fannie Mae seeks $10.7B in US aid after 2Q loss

(AP) – Fannie Mae plans to tap $11 billion in new government aid after posting another massive quarterly loss as the taxpayer bill from the housing market bust keeps growing.

Video: Entering the Greatest Depression in History

While there is much talk of a recovery on the horizon, commentators are forgetting some crucial aspects of the financial crisis. The crisis is not simply composed of one bubble, the housing real estate bubble, which has already burst. The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008.

Money printing, debt growth and deficits don’t create prosperity, says Marc Faber

Marc Faber the Swiss fund manager and Gloom Boom & Doom editor said the US Federal Reserve managed, through stimulus, to do something that had never before been done – create a worldwide bubble in just about everything -stocks, bonds , housing and art.