(Fox) – Judge Andrew Napolitano with Lou Dobbs, Walter Williams and Tom Palmer – Continue reading
Tag Archives: jobs
Why Cops Love the iPhone
(Infowars) – When Steve Jobs first announced the iPhone in January of 2007, the tech world was abuzz about what this single device could mean to the future of mobile communication. He told the crowd at Macworld that Apple was coming out with a communications device, internet browser and a media player. What police are discovering is that the iPhone is also a great tool for tracking and prosecuting their owners. It turns out that the iPhone stores a lot more information than you may think.
The Chicago Sun-Times published an article expanding on how police are using iPhones in their investigations. Continue reading
Video: “US largest criminal in world”
(RussiaToday) – As the economy has not rebounded and jobs continue to be scarce around the country, many US citizens are renouncing their citizenship and moving abroad. Mike Golguski says that the United States is the largest criminal in the world and he didn’t want to be a part of it. He also says that he is not anti-American but is anti-US government. Continue reading
Video: Peter Schif – Jobs, stimulus, dollar, more baliouts
(SchiffReport) – August 7, 2010 – Continue reading
Video: Oakland Approves Marijuana Farms
(MSNBC) – July 21, 2010 – Dylan Ratigan – Continue reading
Obama’s Summer of Misery and Hardship Tour Hits the Road
(KurtNimmo) – Let’s put Lindsay Lohan’s fear of jail aside for a moment and turn to Obama’s Summer Recovery Tour 2010. Obama’s apparatchiks “will fan out across the country over the next few days to spread the message to voters about how effective their $787 billion recovery plan has been,” The Hill reported earlier this week. “Obama and the White House take comfort the economy is moving in the right direction. They point out that the economy has added jobs in six of the last seven months and stress that when Obama took office the economy was losing 750,000 jobs a month.”
Has it really? Less than a month ago Joe Bite Me said jobs have gone away and they are never coming back. Biden said “there’s no possibility to restore 8 million jobs lost in the Great Recession” and folks should get used to it. “We inherited a godawful mess,” he said and glibly added that there was “no way to regenerate $3 trillion that was lost. Not misplaced, lost.”
It wasn’t lost and Joe knows it. It was stolen. Trillions went directly to the banksters. They defiantly refused to tell Congress and the American people where it all went. In December of 2008, as the engineered Greatest Depression was gaining steam, the Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of “emergency loans” billed to future generations of American debt slaves. Continue reading
Economy
(MarketOracle) – SULTANS OF SWAP: BP Collapse Potentially More Devastating than Lehman!
As horrific as the gulf environmental catastrophe is, an even more intractable and cataclysmic disaster may be looming. The yet unknowable costs associated with clean-up, litigation and compensation damages due to arguably the world’s worst environmental tragedy, may be in the process of triggering a credit event by British Petroleum (BP) that will be equally devastating to global over-the-counter (OTC) derivatives. The potential contagion may eventually show that Lehman Bros. and Bear Stearns were simply early warning signals of the devastation lurking and continuing to grow unchecked in the $615T OTC Derivatives market. Read More Here
(DailyFinance) – Wall Street Apocalypse: The World of the Doomsday Investors – Read More Here
(Guardian) – Graduates warned of record 70 applicants for every job
Class of 2010 told to consider flipping burgers or shelf stacking to build skills as they also compete with last year’s graduates Read More Here
(DetroitNews) – Foreclosures plague Metro area towns – Read More Here
(DailyFinance) – Facing a $7 Billion Shortfall, the U.S. Postal Service Proposes to Raise Rates – Read More Here
(MaineBiz) – Maine foreclosures still rising – Read More Here
(Telegraph) – Europe’s ‘toothless’ bank tests making matters worse
RBS and other City institutions have warned that Europe’s stress tests for banks are almost useless and may further damage confidence if they fail to cover the risk of large losses on sovereign defaults by Greece and other Club Med states. Read More Here
(HuffingtonPost) – Reps. Paul & Frank: Why We Must Reduce Military Spending
By far the single most important of these is our current initiative to include substantial reductions in the projected level of American military spending as part of future deficit reduction efforts. For decades, the subject of military expenditures has been glaringly absent from public debate. Yet the Pentagon budget for 2010 is $693 billion — more than all other discretionary spending programs combined. Even subtracting the cost of the wars in Iraq and Afghanistan, military spending still amounts to over 42% of total spending. Read More Here
(NewAmericanEmpire) – Debt Deflation: A Long Economic Winter Ahead – Prof. Rodrigue Tremblay
The bond market is telling us that there could be hard economic times ahead and that deflation, for the time being, is more of a threat than inflation. Leading indicators are also pointing to possible economic weakness ahead. Read More Here
(MikeWhitney) – More Red Flags for the Economy
Bonds are signaling that the recovery is in trouble. The yield on the 10-year Treasury (2.97 percent) has fallen to levels not seen since the peak of the crisis while the yield on the two-year note has dropped to historic lows. This is a sign of extreme pessimism. Read More Here
(NECN) – Video: Mass. town will charge to keep street lights on – Video Link Here
(CharlieVLog) – Video: REALITY IS CLOSING IN
See Also: (CharlieVLog) – Video: Fast Track To The Bottom – Video Link Here
(PuppetGov.coM) – Video: America’s Controlled Economic Implosion – Video Link Here
(July 5) – Video: Alex Jones – It Feels like It’s 1932
(Bloomberg) – Sovereign Default Risk Rose 30% as European Debt Crisis Deepened, CMA Says – Read More Here
(NewsWeek) – Worse Than Wall Street – How shaky European banks could tip the world back into recession. – Read More Here
(TheEconomicCollapse) – No Jobs
Everyone knows that the United States is bleeding jobs. According to one new study, the private sector in the United States has lost 10.5 million jobs since 2007. The U.S. economy lost 125,000 more jobs during the month of June. Approximately a million frustrated American workers have simply dropped out of the employment market altogether over the past two months. But the question not enough people are asking is why so many jobs are being lost. Read More Here
(LVRJ) – WAYNE ALLYN ROOT: Barack Obama: The great jobs killer
As former President Ronald Reagan might have said, “Obama, there you go again.”
The current occupant of the White House claims to know how to create jobs. He claims jobs have been created. But so far the score is Great Obama Depression 2.2 million lost jobs, Obama 0 — a blowout. Read More Here
(TheStar) – A stock market forecast that says ‘take cover’
With the stock market lurching again, plenty of investors are nervous, and some are downright bearish. Then there’s Robert Prechter, the market forecaster and social theorist, who is in another league entirely.
Prechter is convinced we have entered a market decline of staggering proportions – perhaps the biggest of the last 300 years. Read More Here
(SeekingAlpha) – Cecchini: U.S. Consumers in ‘Dire’ Credit Situation
Peter Cecchini, chief strategist at BGC Financial, talks to Pimm Fox about the U.S. economy and consumer credit on Bloomberg Television’s “Taking Stock.” He says that the 122% percent household debt to GDP ratio is well above the pre-1980 average of 60-80%. Just to get back to a 100% to GDP ratio, we need an additional $2 trillion of deleveraging. In the absence of income growth, you just aren’t going to get these numbers down without deleveraging. Read More Here
(RevoltOfThePlebs) – Government Math… FOR KIDS!
Did you know that you and I can create millions, billions and even trillions of numbers just as easily as the Federal Reserve? All you have to do is use your imagination. Let’s try it! Read More Here
(Infowars) – California Implodes
California is the wealthiest and most populous State in America, and Los Angeles County is the largest county in America, so both the State and LA County wield unbelievable power in Washington D.C. The corruption in California affects you directly.
• How would you feel if you knew your federal tax dollars were being used to finance California’s corruption?
• You may be surprised to learn that the California State Legislators and the LA County Supervisors went to Washington D.C. to obtain the maximum federal funding for their extensive welfare, medical and illegal alien imprisonment programs, in order to claim the federal tax payer money in an end run around the other states.
• Imagine the end of the democratic process through judicial corruption, like that in LA County, replicated in your community.
First Amendment suspended in the Gulf of Mexico as spill cover-up goes Orwellian – Mike Adams
(NaturalNews) – As CNN is now reporting, the U.S. government has issued a new rule that would make it a felony crime for any journalist, reporter, blogger or photographer to approach any oil cleanup operation, equipment or vessel in the Gulf of Mexico. Anyone caught is subject to arrest, a $40,000 fine and prosecution for a federal felony crime.
CNN reporter Anderson Cooper says, “A new law passed today, and back by the force of law and the threat of fines and felony charges, … will prevent reporters and photographers from getting anywhere close to booms and oil-soaked wildlife just about any place we need to be. By now you’re probably familiar with cleanup crews stiff-arming the media, private security blocking cameras, ordinary workers clamming up, some not even saying who they’re working for because they’re afraid of losing their jobs.” Continue reading
Economy
(GunsNButter) – Audio: On the Destructive Nature of the Global Economic System – Bonnie Faulkner Interviews Michel Chossudovsky – Audio Link Here
(NYTimes) – NY Times’ Krugman: We Are Entering The Third Depression
We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. Read More Here
(CNN) – Video: Clinton – U.S. Budget Is Broken – View Video Here
(LondonTelegraph) – RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve
As recovery starts to stall in the US and Europe with echoes of mid-1931, bond experts are once again dusting off a speech by Ben Bernanke given eight years ago as a freshman governor at the Federal Reserve. Read More Here
(LewRockwell) – Suiting Up for a Post-Dollar World
The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie’s choice between social unrest and bankruptcy. But with the “Club Med” economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated. Read More Here
(StarAdvertiser) – Huge tent city takes root
Homeless camps cover 50 acres, from Waipio Point, around Middle Loch to Pearl City Read More Here
REPOST – (WSWS) – Senate Democrats and Obama abandon the jobless
Senate Democrats gave up efforts to extend unemployment benefits for millions of jobless workers after the third vote on overcoming a Republican filibuster failed. The final vote Thursday was 57 to 41, three votes short of the 60 necessary to cut off debate, with one Democrat, Ben Nelson of Nebraska, joining a unanimous Republican opposition. Read More Here
(Bloomberg) – Merkel Warns European Crisis is Far From Over, Wall Street Journal Reports – Read More Here
(GlobalResearch) – BOOK LAUNCH: The Global Economic Crisis: The Great Depression of the XXI Century – Michel Chossudovsky and Andrew Gavin Marshall – Read More Here
(EurasiaReview) – Europe’s Fiscal Dystopia: The “New Austerity” Road – Michael Hudson
Europe is committing fiscal suicide – and will have little trouble finding allies at this weekend’s G-20 meetings in Toronto. Despite the deepening Great Recession threatening to bring on outright depression, European Central Bank (ECB) president Jean-Claude Trichet and prime ministers from Britain’s David Cameron to Greece’s George Papandreou (president of the Socialist International) and Canada’s host, Conservative Premier Stephen Harper, are calling for cutbacks in public spending. Read More Here
(BBC) – Romania plans big VAT rise to secure bail-out funds – Read More Here
(RegionalTimes) – IMF stops next tranche of loan to Pakistan till imposition of VAT Read More Here
Climategate
(LATimes) – Senate Democrats poised to start energy bill
With the gulf oil spill creating political opportunity, Senate Democrats will begin crafting a sweeping energy bill this week that could include a first-ever, though more modest, cap on global-warming pollution, believing they must act now despite differences within their ranks and political jitters in an election year.
(Guardian) – Gillard bids to revive Australia’s stalled carbon trading scheme
Australia’s new prime minister, Julia Gillard, today moved to revive a stalled carbon trading scheme, pledging more consultation with industry and voters to win support for an issue that has divided the nation. Read More Here
Mass Country Wide Closing and Layoffs
Here are closing stores, restaurants, layoffs etc just in the last few days! I’m sure the readers here are familiar with some of these businesses. Click on the links. Comments on “Green Shoots”?
Johnnie Walker’s Men Store in Milwaukee Wisconsin
Pipkin Cameras and Imaging Store in Oklahoma City
Allain Gallery in Richmond Virginia
Stone’s Throw Golf Course in Newton Ill
Glacier Ice Arena in Grand Junction Colo.
Maumee 18 Theater in Maumee Ohio
Eccentrix in Joplin MO
The White Pine Copper Refinery
3M to Close Ardmore Plant – 125 Jobs Lost
Provincetown High School in Mass.
B&G Golf in Brookfield
Update: Taylor Sawmill in Enfield ill
Pages New and Rare Bookstore Arizona
Select Medical Corp Manchester MO Facility – 66 layoffs
Caye Upholstery, Closing 2 NC Facilities – 160 Jobs Lost
Ripley County Fair NY
Blockbuster in Oak Ridge Tenn.
The Hubbard BMV in Ohio
The Golden Corral Buffet & Grill restaurant on Seminole Trail VA?
Update: Ken Lee’s Gallery 11 in Steamboat Springs
Hillsborough County FL – 200
Brown University Bookstore RI – 8
Lucas County Sheriff’s Office OH – 16
La. Department of Education – 31
Exempla Healthcare – 100 Position from Hospitals in Denver
Boeing – Lost of Constellation Funding Could = 180 Layoffs
City of Romulus – 32 Layoff Notices
Burke County Public Schools NC – 70
Middleboro School District – 30
Marian Community Hospital – 26
Cinram – 482
The Siena Hotel Spa Casino in Reno – Eliminating Table Games = 35 Layoffs
MSM: Antidepressant use rises as recession feeds wave of worry
(Guardian) – The number of antidepressants prescribed by the NHS has almost doubled in the last decade, and rose sharply last year as the recession bit, figures reveal.
The health service issued 39.1m prescriptions for drugs to tackle depression in England in 2009, compared with 20.1m in 1999 – a 95% jump. Doctors handed out 3.18m more prescriptions last year than in 2008, almost twice the annual rise seen in preceding years, according to previously unpublished statistics released by the NHS’s Business Services Authority.
The increase is thought to be due in part to improved diagnosis, reduced stigma around mental ill-health and rising worries about jobs and finances triggered by the economic downturn. Read More Here
Austerity Fascism Is Coming And It Will Be Brutal
(PaulWatson) – Welcome to the age of rage – riots and revolutions will be the reaction to the next stage of the new world order Continue reading
Economy
(EconomicPolicyJournal) – HOT: Curious Trading by Federal Reserve Advisor May Result in JPMorgan Chase $1.264 Billion Windfall – Read More Here
(NYTimes) – Home Owners Stop Paying Mortgages – Read More Here
(MiamiHerald) – Gulf shrimpers fear oil spill will put them out of business – Read More Here
(CNNMoney) – Three American cities on the brink of broke – Read More Here
(BizJournals) – Four more Ga. banks get consent orders – Read More Here
(NewsObserver) – Mental health group can pay only half wages – Read More Here
(Fox43) – Video: Thousands of job losses possible if federal funding expires – Read More Here
(HometownAnnapolis) – Cohen to unveil more budget cuts – Read More Here
(ZeroHedge) – Bank Of International Settlements Warns To Ignore Banker “Doomsday Scenario” Fearmongering And Racketeering – Tyler Durden
Over the past two years, the one strategy that has elicited the greatest amount of anger in the general population has been the traditional resolution to the “lowest common denominator” strategy of fearmongering or racketeering by the financial elite, any time it was faced with a status quo extinction event Read More Here
(TheEconomicCollapse) – Europe’s Coming Summer Of Discontent
The summer of 2010 promises to be the most tumultuous summer in the short history of the European Union. The sovereign debt crisis sweeping the continent threatens to cause economic and political instability on a scale not seen in Europe for decades. Read More Here
(Reuters) – China warns debt woes threaten global recovery
China warned on Monday that Europe’s struggle to contain ballooning debt posed a risk to global economic growth, raising the specter of a double-dip recession. Read More Here
(Reuters) – ECB warns of more bank loan losses
The European Central Bank warned on Monday that euro zone banks face up to 195 billion euros in a “second wave” of potential loan losses over the next 18 months due to the financial crisis, and disclosed it had increased purchases of euro zone government bonds. Read More Here
(PressTV) – Eurozone jobless rate hits record high
Unemployment rate in the Eurozone counties has jumped to a historic 10.1 percent — its highest since the introduction of Euro.
According to statistics released by the European Union, almost 16 million people living in the Eurozone countries are currently out of jobs. Read More Here
(ABCNews) – Hewlett-Packard to Cut 9K Jobs; See $1B in Charges
Hewlett-Packard Co. said Tuesday it will cut about 9,000 jobs and take $1 billion in charges over three years as it creates fully automated commercial data centers. Read More Here
(AP) – Video: Deep Cuts Looming for Nation’s Public School Kid
Budget crises across the nation are forcing thousands of teacher pink-slips, shuttering classrooms and cutting school programs. This is the first story in a 3-part AP investigation series. Continue reading
Small businesses threatened with 1099 tax form tyranny provision in health care bill – Mike Adams
(NaturalNews) – According to a recent report from CNNMoney.com, the massive U.S. health care system overhaul includes more than just a transition to government-run medicine. A small section hidden away in the 2,409-page bill requires all businesses to send 1099 tax forms to every company or individual from which they purchased more than $600 in services and goods throughout the tax year, beginning on January 1, 2012.
As you’ll see below, this new law threatens to cause a wave of paperwork chaos across the entire U.S. economy, stifling the operations of small businesses and driving more jobs overseas. Continue reading
Schama: Are the Guillotines Being Sharpened?
(NakedCapitalism) – Simon Schama tonight warns in the Financial Times that revolutionary rage is close to the boiling point in Europe and the US :
Historians will tell you there is often a time-lag between the onset of economic disaster and the accumulation of social fury. In act one, the shock of a crisis initially triggers fearful disorientation; the rush for political saviours; instinctive responses of self-protection, but not the organised mobilisation of outrage… Continue reading
Economy
(MSNBC) – Video: Obamacare Loophole Exposed – Michael Moore – Video Link Here
(ChartingStocks) – Warren Buffet Does Heavy Selling; 13-F Filings Reveal
Billionaire investor Warren Buffet did some heavy selling during the first quarter of 2010. According to the most recent 13-f filing, Mr. Buffett liquidated his entire position health insurers United Health (UNH) and WellPoint (WPT). He dumped his holdings in financial companies Travelers (TRV) and Sun Trust Banks (STI). Read More Here
(PressTV) – Greece blames US for snowballing debts
Greek Prime Minister George Papandreou says he is considering taking legal action against US investment banks for their alleged role in the snowballing Greek debt crisis. Read More Here
(MarketTicker) – The German Government Has Had Enough
If you thought the German government was going to be a lapdog for Sarcozy, or worse, was going to fellate Brussels and the ECB, you got a rude shock today. Read More Here
(MatterhornAsset) – ALEA IACTA EST
Yes this is it! We have crossed the Rubicon and events in the world economy are now likely to unfold in a totally uncontrollable fashion. Clueless governments still don’t understand that it is their ruinous actions that have created a credit infested and bankrupt world. They will continue to prescribe the same remedy that caused the problem in the first place, namely more credit and more printed money. The consequences are clear; we will have hyperinflation, economic and human misery as well as social unrest. Read More Here
(Bloomberg) – Conspiracy of Banks Rigging States Came With Crash
A telephone call between a financial adviser in Beverly Hills and a trader in New York was all it took to fleece taxpayers on a water-and-sewer financing deal in West Virginia. The secret conversation was part of a conspiracy stretching across the U.S. by Wall Street banks in the $2.8 trillion municipal bond market. Read More Here
(LondonTelegraph) – Congress blocks indiscriminate IMF aid for Europe
Europe may have to clean up its own mess after all. The US Senate has voted 94:0 to block use of taxpayers’ money for IMF rescues that make no economic sense or bail-outs for countries like Greece that far are beyond the point of no return.
“This amendment will help prevent American taxpayer dollars from underwriting dysfunctional governments abroad,” said Texas Senator John Cornyn, the chief sponsor. “American taxpayers have seen more bailouts than they can stomach, and the last thing they should have to worry about are their hard-earned tax dollars being used to rescue a foreign government. Greece is not by any stretch of the imagination too big to fail.” Read More Here
(GnosticMedia) – Audio: Hey Wall Street, Naked Short Sell This! An Interview with Dr. Patrick Byrne and co-host, Wall Street whistle blower, Richard Andrew Grove – Audio Link Here
(SeekingAlpha) – $3,000 Gold? Rosenberg Says That May Be Conservative
Although gold bullion is both a commodity and currency, it has lately become the world’s currency of choice, i.e. a vote of no confidence in fiat paper. This is evident in the fact that the gold price has not only just made an all-time high in U.S. dollar terms ($1,249 on Friday), but also in just about every other currency one cares to mention. I illustrated this in a post a few days ago, entitled “Meet the world’s new currency of choice”. Read More Here
(Telegraph) – Higher taxes for a million as George Osborne’s emergency Budget hits investors
More than a million people could be dragged into paying capital gains tax after George Osborne confirmed that he would use his emergency Budget to hit investors. Read More Here
(RawStory) – Bill for Afghan war could run into the trillions
The U.S. Senate is moving forward with a 59-billion-dollar spending bill, of which 33.5 billion dollars would be allocated for the war in Afghanistan.
However, some experts here in Washington are raising concerns that the war may be unwinnable and that the money being spent on military operations in Afghanistan could be better spent. Read More Here
(DowJones) – Euro Plunges To 4-Year Low After German Trade Ban
The euro plummeted Tuesday to a fresh four-year low after Germany announced it would ban certain speculative investments, exacerbating the selling of the single currency as investors run out of alternatives to trade the sovereign debt crisis already roiling the euro zone. Read More Here
(CBC) – Canada comes out swinging against bank tax
Canada launched a full-court press against the idea of a global bank tax Tuesday, as the prime minister and four senior cabinet members came out strongly against a proposal that’s gathering global steam. Read More Here
(BusinessInsider) – Dow Theorist Richard Russell: Sell Everything Liquid, You Won’t Recognize America By The End Of The Year
Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him. Read More Here
(BusinessInsider) – A Look Back From 2013: How The Bailout Of Greece Caused The Split Of Europe
Last night we noted an interesting paragraph in an Ambrose Evans-Pritchard piece on the Telegraph, which cited an article in the major German newspaper Frankfurter Algemeine Zeitung, which described a future euro currency of strong nations that didn’t even include france. Read More Here
(Telegraph) – Banks dump Greek debt on the ECB as eurozone flashes credit warnings
Foreign holders of Greek and Portuguese debt have seized on emergency intervention by the European Central Bank to exit their positions, leaving eurozone taxpayers exposed to the credit risk. Read More Here
(Rense) – Congressional Climate Bills – Stealth Schemes To Raise Energy Prices And Enrich Wall Street – Stephen Lendman
On June 26, 2009, HR 2454: American Clean Energy and Security Act of 2009 (ACESA) passed, purportedly “To create clean energy jobs, achieve energy independence, reduce global warming pollution and transition to a clean energy economy.”
In fact, it lets energy polluters raise prices for huge windfall profits and gives Wall Street a bonanza through carbon trading derivatives speculation. Catherine Austin Fitts’ Solari.com blog explained it last July in her article titled, “The Next Really Scary Bubble” is coming, saying:
“If you think the housing and credit bubble diminished your financial security and your community, or the bailouts, or the rising gas prices did as well, hold on to your hat” for what’s ahead. “Carbon trading is gearing up to make the housing and derivative bubbles look like target practice,” or in other words, be the mother of all scams, courtesy of administration, House and Senate collaboration with Wall Street and the energy giants. Read More Here
(PaulWatson) – Video: Blanchflower – Europe Could Break Up, Another Bailout Inevitable
Former Bank of England policy maker says collapse of single currency unstoppable Continue reading
Arizona vs. Mexico: Crime and Illegal Aliens
(MoneyTeachers) – What exactly are the rights of those that come into the country illegally? Should they enjoy the same Constitutional Protections as Naturalized Citizens of the United States? Of course, we are talking about Civil Rights and Due Process, Miranda Rights, etc.
The answer of course, is that all human beings deserve to be treated with respect and dignity, but to enter into this country illegally is a violation of both Federal and State Statutes. Thus, illegal aliens are criminals because they are, well, illegal aliens. Continue reading
Economy
(RollingStone) – The Feds vs. Goldman
The government’s case against Goldman Sachs barely begins to target the depths of Wall Street’s criminal sleaze – Read More Here
(EconomicCollapseBlog) – Will The Gulf Of Mexico Oil Spill Be An Economic Disaster That The Gulf Coast Will Never Recover From? – Read More Here
(EconomicCollapseBlog) – How Is The U.S. Economy Supposed To Succeed When Our Politicians And The Big Banks Are Making Billions Of Dollars Betting Against It?
Most people around the globe think of America as a great “capitalist” economic machine, but the truth is that the U.S. financial system is essentially one massive betting parlor at this point. In fact, there has been a whole lot of easy money made in this betting parlor over the past several years by our politicians and by the big financial players down on Wall Street. So how did they make all of this money? They did it by betting against America. Read More Here
(GlobalResearch) – Covert Economic Agenda Beneath Immigration Reform – Shamus Cooke
How convenient for Goldman Sachs. Just as most working people were demanding that the Goldman bosses and other Wall Street criminals either be massively fined, jailed or worse, the nation’s attention is suddenly forced to react to the racist immigration law in Arizona. And although the two incidents are not directly related, they represent a trend that is likely to increase in the months and years ahead. Read More Here
(YahooFinance) – Video: Congress Refuses to Outlaw Insider Trading For Lawmakers
Even a cynic can find Washington’s hypocrisy shocking at times. The Wall Street Journal reports today a House bill that would force lawmakers to make greater disclosures on financial transactions and disallow them from trading on nonpublic information is going nowhere fast.
That’s right. Members of Congress are currently allowed to profit on insider trading! View Video Here
(WashingtonPost) – Illegal Immigrants cost feds more than $10 billion a year
A report that found that illegal immigrants in the United States cost the federal government more than $10 billion a year — a sum it estimated would almost triple if they were given amnesty — has drawn criticism from immigration advocacy groups. Read More Here
(WashingtonPost) – Effort to expand audits of Fed picks up steam in Senate
A contentious effort to expand audits of the Federal Reserve that sailed through the House despite heavy criticism appears to be picking up steam as the Senate considers broad new financial regulations. Read More Here
(GlobalResearch) – Cutting Public Debt: Economic Science or Class War?
In The Bullet no.345, Ingo Schmidt showed how the credit rating agencies have sparked an assault by international bondholders on the sovereign debt of Greece, where workers are being made to pay heavily for the fiscal crisis of the state. Read More Here
(WashingtonsBlog) – The Fed Must Be Audited: The Fraudulent Practices of the Federal Reserve
In March 2004, when Alan Greenspan was Fed chairman, he suppressed the opinions of those Fed officials who knew that there was a housing bubble.
Congressman Alan Grayson points out that – because the Fed unilaterally decided to hand out half a trillion to foreigners without any Congressional oversight, and that Bernanke testified that he didn’t know who got the loot – the Fed must be subject to an audit. Read More Here
(GlobalResearch) – Greece: Poverty and Social Implosion in the Wake of the Financial Bailout – Finian Cunningham
“This is not our debt, but we are being made to pay for it,” said one angry Greek worker, explaining why he like thousands of other Greeks are taking to the streets in protest at their country’s bail-out plan.
The so-called rescue package of €110 billion ($143 billion) facilitated by the European Union and International Monetary Fund (IMF) is not just aimed at shoring up Greece from total economic collapse. At stake too is the solvency of several other Eurozone countries – Belgium, Ireland, Italy, Portugal and Spain – and even the euro currency itself. Read More Here
(USAWatchdog) – Inflation and Bailouts Go Hand in Hand
Pick a financial fire and you can be sure the U.S. government will hose it down with gallons of money. AIG, General Motors, Chrysler, insolvent states, FDIC, Fannie, Freddie and all the banks are just a few of the blazes Uncle Sam has sprayed money on
Now, the Federal Reserve is printing up another $105 billion to send to Greece to help with its debt problem. Is the bailout cycle getting ready to take another turn bailing out the Banks? Read More Here
(CNBC) – European Union, Currency Are Headed for Collapse: Gartman
The current European debt crisis likely will not end until the euro collapses as a currency and takes the entire European Union with it, said Dennis Gartman, hedge fund manager and author of “The Gartman Letter.”
“I think the whole thing will go down to defeat, the whole thing will eventually unravel,” Gartman said in an interview with CNBC.com. Read More Here
(SmirkingChimp) – US Government Now 96.5% of the Mortgage Market Q1, 2010
If You Were NOT Paying for Your Neighbor’s Mortgage, How Many Home Sales Would There Be?
The US government IS the US housing market. Read More Here
(ABC30) – Video: City of Fresno Declares Fiscal Emergency
The city of Fresno is facing a $30.6 million budget shortfall and the mayor announced she wants to cut hundreds of city jobs. Video Link Here
If The U.S. Economy Is Experiencing A Recovery Why Does It Seem Like Things Keep Getting Worse?
(EndOfTheAmericanDream) – The talking heads on all the major news shows keep telling us that the U.S. economy is experiencing a recovery. Usually the term “recovery” is accompanied by a qualifier such as “jobless”, but they continue to use the word recovery anyway. We are told that the greatest financial crisis since the Great Depression is behind us and that the great American economic machine is roaring back to life and everything will be back to normal soon. So why does it seem like things keep getting worse? Why does it seem like the American Dream is out of reach for more Americans than ever? Why does it seem like economic pain is spreading to more families and more businesses?
Well, maybe it is because things are getting worse. Continue reading
Economy
(AlethoNews) – U.S. Banks Hid Risk by Lowering Debt Before Reporting, WSJ Says
U.S. banks masked their true risk levels by temporarily lowering debt before reporting it, the Wall Street Journal said, citing data provided by the Federal Reserve Bank of New York. Read More Here
(AP) – 42nd US bank failure in ’10 is South Carolina bank
Regulators on Friday shut down a bank in South Carolina, marking 42 bank failures in the U.S. so far this year amid mounting loan defaults, especially in commercial real estate. Read More Here
(GlobalEconomicAnalysis) – Food Stamp Usage Hits Record 39 Million, 14th Consecutive Monthly Increase – Read More Here
(Yahoo) – Nearly half of US households escape fed income tax – Read More Here
(ABCNews) – Hoarding, Not Hiring – Corporations Stockpile Mountain of Cash
Reluctant to Spend or Expand, U.S. Companies Are Sitting on a Record $1.6 Trillion Read More Here
(LATimes) – L.A. city employees make impassioned pleas against layoffs – Read More Here
(Bloomberg) – Job Openings in U.S. Decrease to 2.72 Million – Read More Here
(WSJ) – Investors Playing Defense Heighten Greek Debt Woes
The market pummeling of Greece continued Wednesday, and many European politicians are quick to blame “traders and speculators,” as Greek Prime Minister George Papandreou recently put it. Read More Here
(NYTimes) – As Greek Bond Rates Soar, Bankruptcy Looms
As interest rates on Greek debt spiral upward again, the question facing Europe is no longer whether Athens has the political will to cut spending and raise taxes to curb its gaping budget deficit, but whether Greece will run out of money before it gets the chance to do so. Read More Here
(RawStory) – US banks understate debt, masking risk: report
Major US banks have been masking the size of their debt, and thereby their risk levels, by temporarily lowering it just before reporting it to the public, the Wall Street Journal reported Friday. Read More Here
(InfoClearingHouse) – The Coming European Debt Wars – Michael Hudson
EU Countries sinking into Depression Read More Here
(GlobalResearch) – “Job Creation”–Stupid Is as Stupid Does – Richard C. Cook – Read More Here
(YahooFinance) – Video: Recovery?!? There’s No Recovery! The U.S. Is Completely Screwed! – Video Link Here
(CNNMoney) – 33 states out of money to fund jobless benefits
With unemployment still at a severe high, a majority of states have drained their jobless benefit funds, forcing them to borrow billions from the federal government to help out-of-work Americans. Read More Here
(DailyCaller) – Debt denial
The sovereign debt crisis has crossed a threshold. It’s no longer about economics. It’s about math and a complex system whose dynamics tell us there is little time to avoid catastrophe and almost no exit. Going forward, elections and policies will matter less as the debt plague takes hold and dictates hard outcomes. Read More Here
(TheDailyCrux) – Sales of silver coins are soaring
The U.S. Mint just reported another record, but this time it wasn’t for gold. The Mint sold more Silver Eagles in March and in the first quarter of the year than ever before. A total of 9,023,500 American Silver Eagles were purchased in Q110, the highest amount since the coin debuted in 1986. Read More Here
(YahooFinance) – Video: Lowenstein – Thanks to Greenspan and Bernanke, The Next Crisis Could Be “Even Scarier” – View Video Here
(YahooFinance) – A Financial 9/11: How the Wall Street Crash Changed America Forever
In The End of Wall Street, noted author and financial journalist Roger Lowenstein argues the crisis of 2008 marked more than just the end of Lehman Brothers, Bear Stearns, Washington Mutual and a host of other firms. Read More Here
(ZeroHedge) – The Greatest Shell Game Ever Continues As The Whole World Is Now Insolvent; Updated Thoughts From Chris Martenson On The Upcoming US Funding Crisis Read More Here
(ZeroHedge) – Consumer Credit Plunges $10.5 Billion, Expectation Was $0.5 Billion, Consumer Credit Back To June 2007 Levels Read More Here
The Bright Side of Hyperinflation
(LewRockwell) – Despite encouraging words from politicians and the establishment media’s talking heads, it is clear to me, and I believe most Americans who do not live in a regime ivory tower, that we are not coming out of the recession. In fact, things appear to be getting worse as unemployment continues to rise and businesses cut salaries or shut down. The fears that this recession could turn into another Great Depression are very real, as we have lost so much of our capacity to create wealth and the federal government seems determined to use up any remaining capital fighting endless wars, funding endless entitlement programs, and spending trillions of dollars on non-wealth-creating “stimulus” programs while handing out even more trillions to their bankster buddies and corporate cronies. However, another 1930s-style depression is not what keeps me up at night with worry. Continue reading
What Do the New Unemployment Numbers Mean?
(WashingtonsBlog) – What do the new BLS numbers – 162,000 nonfarm jobs added in March – mean?
Barry Ritholtz provides a very useful summary: Continue reading
Economy
(IND) – China’s gold rush ‘will be stampede by 2020’ – Read More Here
(NYTimes) – Stocks Soar, but Many Analysts Ask Why
The unemployment rate remains locked in a range that recalls the economic doldrums of the early 1980s. Housing is stuck in a ditch, with foreclosures rising. And consumers are still reluctant to part with the little cash they do have. Read More Here
(NorthJersey) – Cash-strapped states using income audits to get funds
State audits on income and sales taxes for the smallest businesses as well as out-of-state inquiries on operations in other states are on the rise, accountants say. Read More Here
(BusinessInsider) – There Are No New Taxes Coming In America…. Except The Massive One That Will Sock The Economy In The Gut – Read More Here
(ContrCostaTimes) – Chiang: Worst yet to come for California budget crisis
State Controller John Chiang said Monday the worst of California’s budget crisis is still to come. Read More Here
(NYTimes) – State Debt Woes Grow Too Big to Camouflage
California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink — budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies of retired public workers who are counting on benefits that are proving harder and harder to pay. Read More Here
(InfoClearingHouse) – Eighteen Million, Out in the Road
How cold and callous can we become? When, as a society and as a nation, we can undergo a massive earthquake under our very feet and before our very eyes, how can we just ignore its victims? Read More Here
(InfoClearingHouse) – Video: Tent Slums Spring Up in America
Concentrations of homeless people are nothing new in America, but recent BBC and Los Angeles Times reports depict a rising trend of shanty slums, such as a “city” of newly homeless people living in tents near the Ontario airport in Los Angeles. View Video Here
(InfoClearingHouse) – Workhouse Nation – The Plight of Mass Unemployment in America. What are the Causes? Read More Here
(WickedLocal) – Bay State foreclosures up 13.8 percent
Completed foreclosures in Massachusetts fell 19.6 percent in February, compared to January, but were 10.4 percent higher than in February 2009, according to data released Thursday morning. Also, foreclosure deeds jumped 13.8 percent to 2,058 in the first two months of the year from 1,809 during the same period in 2009, the Warren Group reported. Read More Here
(CBS2Chicago) – Report: 20,000 Illinois Teachers Could Lose Jobs
9,800 Teachers Are Already Out, Many More Layoffs Are Planned Read More Here
(AP) – IN could see new wave of foreclosures
The number of Indiana mortgages that were 90 days or more overdue jumped to its highest level in more than a year in January, a statistic that has many fearing a surge of home foreclosures in 2010. Read More Here
(FortWorthBP) – Commercial real estate to see ‘storm’ of foreclosures
The 2010 Tarrant County commercial real estate market looks to be similar to 2009 with one big difference according to local foreclosure expert George Roddy Sr.: a ‘closing window of opportunity.’ Read More Here
Economy
(ZeroHedge) – Video: ECU Group’s Philip Manduca “We Are At A Tipping Point” And The Only Thing That May Save The Euro Is A Collapse Of The US
For once, some actually good insight from a CNBC guest. Philip Manduca, Head of Investment of the ECU Group, discusses Greece and the very severe implications of what the final outcome will look like. “Trichet said the Greeks are crooks, and they’ve been lying about the numbers. There is a deeply embedded corruption within the Eurozone. Combined with the endemic European socialism and there is just no way you are going to get spending cuts and tax raises and maintain a GDP that makes any sense of the percentage aspect of debt to GDP. So the whole show is wrong. This is an intractable situation, this is going to continue on and on. The onle hope for the Eurozone, and the Euro as a currency, is that sameone takes the spotlight soon, and that may be the United States.” Watch the rest as Philip’s perspective is spot on…Not to mention that he sees gold as the only alternative to the fiat bonfire soon to engulf the western world. – Video Link Here
(MarketWatch) – Goldman Sachs’ Hu may join China central bank
Fred Hu, an investment banker with Goldman Sachs Group Inc. is likely to take up a senior post at China’s central bank after formally stepping down from the Wall Street firm in April, the state-run China Daily said Friday, citing people familiar with the matter. Read More Here
(SeattleTimes) – Columbia Center misses mortgage payment
The owner of the Northwest’s tallest building, the 76-story Columbia Center, missed a mortgage payment this month, providing fresh evidence of the troubles facing downtown Seattle office landlords. Read More Here
(WTNH) – Marlin Firearms closing, 265 laid off
Employees at Marlin Firearms in North Haven just got word late Thursday afternoon that they will be losing their jobs in the next 18 months. Read More Here
(MailOnline) – Economic power grab by EU: Plan to control Britain’s economy as Europe bails out Greece
European leaders have launched an audacious bid to create an ‘economic government of the EU’ – even as they were forced to go cap in hand to the International Monetary Fund for a £20 billion bailout of debt-stricken Greece. Read More Here
(SunSentinel) – Florida unemployment hit record 12.2 percent in February
Florida’s unemployment hit 12.2 percent in February, the highest rate on record, soaring past even the rates recorded in the 1973-1975 recession, the state work force agency said Friday Read More Here
(SJ-R) – State Police plan massive layoffs, HQ closures
The Illinois State Police will lay off more than 460 troopers and close five regional headquarters by this fall, acting State Police director Jonathon Monken said Tuesday. Read More Here
Economy
(WSJ) – U.S. Is Riskier Than Euro Zone; So Says CDS Market
Something troubling has occurred in the market for default protection on the debt of the world’s biggest borrower. Read More Here
(WSJ) – Treasurys Sink After Poor Sale
Treasury prices fell hard after a poor five-year auction that escalated concerns about the government’s ability to sell its massive amounts of debt. Read More Here
(KCTV5) – Folger’s To Close KC Coffee Plant
The J.M. Smucker Company announced Wednesday it will close its Kansas City Folger’s Coffee plant in the summer of 2012. Read More Here
(RussiaToday) – Video: Lehman Brothers: Warehouse for junk loans – View Video Here
(TheSun) – CHANCELLOR Alistair Darling has delivered his last crucial budget — and plunged the country further into debt. – Read More Here
(BusinessInsider) – JP Morgan Paid $1.9 Billion For Washington Mutual And Now It Wants A $1.4 Billion Tax Refund
JPMorgan Chase is negotiating with the FDIC for a tax refund related to its acquisition of Washington Mutual that could amount to $1.4 billion, The Wall Street Journal is reporting this morning Read More Here
(DailyTelegraph) – Gordon Brown told to explain why he sold Britain’s gold reserves
Gordon Brown has been ordered to release information before the general election about his controversial decision to sell Britain’s gold reserves. Read More Here
(Bloomberg) – Poll Reveals Americans Hate Wall Street
Americans are leery about creating a new federal agency to make consumer-protection rules for mortgages and credit cards and would prefer to enhance the existing powers of banking regulators. Read More Here
(Bloomberg) – States Sue Over Overhaul That Will Bust State Budgets
President Barack Obama faces a fight over the health-care overhaul from states that sued today because the legislation’s expansion of Medicaid imposes a fiscal strain on their cash-strapped budgets. Read More Here
(WallStreetJournal) – Economic Stimulus Bill May Give J.P. Morgan a Tax Refund of $1.4 Billion
J.P. Morgan Chase & Co. is nearing a deal that would allow it to benefit from a tax refund of as much as $1.4 billion, becoming the latest company to tap a little-noticed plank in an economic stimulus bill. Read More Here
(GlobalResearch) – Social Inequality in America: Widening Income Disparities
The “aristocracy of our moneyed incorporations” has never conceded a thing, not even to suppress a revolt. This “opulent minority” does not “give” what it does not intend to begin to claw back with its cold, non-living corporate “hand” before the ink is dry on the signatures on treaties, the Fourteenth Amendment, even the New Deal, perhaps the greatest bowl of gruel ever cooked up by an oligarchy. Read More Here
(EpochTimes) – Most Japanese Airports in Debt, Face Closure
The majority of Japanese airports are facing serious financial problems and may be forced to close unless they attract more passengers, according to a Japanese Ministry of Transport survey, reports the Japan Times. Read More Here
(FinancialArmageddon) – Is the stock market being manipulated?
Larry Doyle, a long-time Wall Street veteran and publisher of the Sense on Cents blog, hosts a Sunday night show, “No Quarter Radio’s Sense on Cents with Larry Doyle,” on Blog Talk Radio. In this week’s edition, which features an interview with Phil Davis of Phil’s Stock World, Larry raises a question that a few of us, who are amazed at and unsettled by the willingness of investors to throw caution to the wind and repeat the mistakes of the past (see “Back Buying the Same Kind of Crap” for one example), have occasionally wondered about ourselves: Read More Here
(MyBudget360) – How the Middle Class Slowly Evaporated in the Last 40 Years
Loss of Manufacturing, Bank Deregulation, Hyper Consumption, and Short-term Profit Seeking from Wall Street Read More Here
(DailyBell) – Global Economy Spins Out of Control? – Read More Here
(Spiegel) – German Shipping Faces Wave of Financing Problems
As recently as 2008, container ships were transporting record amounts of products across the world’s oceans. Now, many German shipping companies are struggling to pay for the vessels they ordered during the boom. Their banks could be in trouble, too. Read More Here
(CSPAN) – Video: Ron Paul Vs Tiny Tim Geithner-You Got Us In A Bigger Mess – View Video Here
Economy
(Bloomberg) – Obama Pays More Than Buffett as U.S. Risks AAA Rating (Update3)
The bond market is saying that it’s safer to lend to Warren Buffett than Barack Obama. Read More Here
(ZeroHedge) – Underemployment At Record 20% According To Gallup
Just in case anyone needed confirmation that the DOL data is just a little, how should we say it, cooked, here comes Gallup with their March 15 undermployment number, which just hit a 2010, and series, high of 20%. Read More Here
(NYTimes) – A Ruinous Meltdown
A story that is not getting nearly enough attention is the ruinous fiscal meltdown occurring in state after state, all across the country. Read More Here
Video: Gerald Celente Interview by Helen Skopis of Athens International Radio – Audio Link Here
(ZeroHedge) – “Passage Of The Healthcare Bill Means The Double-Dip Is Coming” – Market Insight From Permabull Jim Cramer Who Just Turned Bearish – Tyler Durden
Jim Cramer may be in hot water with the SEC over his theStreet.com, and he may be a mouthpiece for the biggest ponzi enabling organization the developed world has ever seen, however, he did have some interesting and spot-on observations on the just passed health care bill. In a nutshell, and for once we agree with Cramer, if futures are not limit down right now, it is because of the same bidding hand that has kept the market going straight up at a 30 degree angle for the past year. Read More Here
EU Meddling With Health Food Stores Puts 4,000 Jobs at Risk
(Express) – NEW curbs on vitamin and mineral pills by Brussels are threatening to push hundreds of UK health food stores out of business with the loss of up to 4,000 jobs. Read More Here
Economy
(Bloomberg) – House Approves $18 Billion Job Bill, Returns It to U.S. Senate
The U.S. House approved an $18 billion measure that aims to help create jobs by offering a temporary tax break to companies that hire people who have been out of work at least 60 days. Read More Here
(MaxWellLucas) – Greece – News Update
Clashes have broken out in front of the Greek parliament Friday, with one labour leader being injured, as demonstrators protested against cuts aimed at containing the country’s debt crisis. The president of the GSEE union, Giannis Panagopoulos was injured after demonstrators started attacking him with bottles and sticks, according to media reports. Riot police have used tear gas to disperse the protesters during the clashes. Read More Here
(DailyMail) – Gordon Brown ‘blunders cost every family £50,000’: PM to blame for ruining the economy, say Tories
The party says Mr Brown is personally responsible for a series of mistakes that have shattered the economy. Read More Here
(HuffingtonPost) – Senators to Obama: Stop Sending Clean Energy Jobs Abroad
Four Democratic Senators want to ensure that tax dollars are creating clean energy manufacturing jobs in America, not China. Now, they are under vigorous attack by the Obama Administration and multinational companies, many of whom have heavily subsidized operations in Europe and Asia. Read More Here
(LATimes) – Long lines at theme parks are for jobs
White-collar workers are among thousands flooding amusement parks with applications. Job fairs are superfluous. Read More Here
(LATimes) – America, the fragile empire
Here today, gone tomorrow — could the United States fall that fast? Read More Here
(Telegraph) – EU draws up plans for first direct tax with fuel levy
The European Union is drawing up plans for its first direct tax with a “green” levy on petrol, coal and natural gas that could cost British consumers up to £3 billion. Read More Here
(BusinessJournal) – Jobless rates rose in every state in ‘09
All 50 states were hit with increases of more than one percentage point in their unemployment rates last year, according to the U.S. Bureau of Labor Statistics. Read More Here
(SFExaminer) – Newsom asks dept. heads to take 10% pay cut
The City is sending out 15,000 layoff notices Friday under Mayor Gavin Newsom’s plan to rehire workers as part-timers for a savings of $50 million. He is also asking department heads to give up 10 percent of their pay and is in talks with Police and Fire employees to give up pay raises. Read More Here
(Tallahassee) – Florida’s budget gap could be as high as $3.2 billion
House Speaker Larry Cretul formally started the state budgeting process today by telling legislative money managers there will be no new taxes or fee hikes — and that they should use Florida’s shrinking revenue pot to fund education, health services and public safety above everything else. Read More Here
(TriangleBusinessJournal) – North Carolina tax collections down $35M as consumers cut spending
State revenue collections were off by $35 million through the first seven months of the government’s fiscal year as consumers continued to sit on the sidelines, a new General Assembly economic forecast says. Read More Here
(NashuaTelegraph) – Jan. foreclosures near record high
In terms of home foreclosures, Scrooge took a holiday in December, but in January, he came back strong. Read More Here
(KPVI) – Idaho tax revenue is $41M behind estimates
Idaho has missed its tax revenue forecasts by a combined $41 million since December. Read More Here
(EconomicPolicyJournal) – Iceland’s Voters About to Tell Global Banksters to Shove It
A vote is set for Saturday in Iceland on a referendum that would require Iceland to pay funds to the U.K. and the Netherlands based on U.K. and Netherlands investors who lost money because of the collapse of an Icelandic bank. Read More Here
(Guardian) – HSBC chief gets £800,000 rise – Read More Here
(Money&Markets) – Brits Pounded As Debts, Deficits Hit Home. Next Up: Us! – Read More Here
(Truthdig) – Video: ‘Colbert Report’: Greece, Frightening – View Video Here
Video: Housing Is “In a Precarious State,” Yale’s Robert Shiller Says – View Video Here
(AlexJones) – Video: Bob Chapman’s Latest Greece Banking Meltdown News on The Alex Jones Show
Part 1 – Here – Part 2 – Here – Part 3 – Soon – Part 4 – Soon
Obama’s assault on public education
(WSWS) – President Obama’s public support for the mass firing of teachers at a Rhode Island high school is a declaration of war on all teachers and on the working class as a whole. Continue reading
Obama’s Budget Revealed: Money for Wars and Weapons, While More Americans Face Joblessness and Hunger
(TomDispatch) – Send up a flare! The 2011 federal budget has sprung some leaks in the midst of a storm. Not sure there’s enough money for life rafts! Forget women and children first!
Buffeted by economic hard times, the 2,585-page, $3.8 trillion document is already taking on water, though this won’t be obvious to you if you’re reading the mainstream media. Let’s start with the absolute basics: 59% of the budget’s spending is dedicated to mandatory programs like Medicaid, Medicare, Unemployment Insurance, Social Security, and now Pell Grants; 34% is to be spent on “discretionary programs,” including education, transportation, housing, and the military; 7% will be used to service the national debt.
A serious look at this budget document reveals some “leaks” — two in actual spending practices and two in the basic assumptions that undergird the budget itself. Ship-shape as it may look on the surface, this is a budget perilously close to an iceberg, and it’s not clear whether the captain of the ship will heed the obvious warning signs. Read More Here
Economy
(CNN) – Jobless claims up 12% in past 2 weeks
The number of Americans filing for initial unemployment insurance surged to just below the 500,000 level last week, and have climbed more than 12% over the past two weeks, the government said Thursday. Read More Here
(HuffingtonPost) – The IMF Destroys Iceland and Latvia
The International Monetary Fund operates primarily as a banker bailout machine. They cajole and tempt and confuse and threaten the leaders of governments worldwide to pay off the failed bets of the big bankers using the taxpayer funds of their countries. This has been going on a long time, at least since the early 1980s. Read More Here
(Fox) – New Jobless Claims Jumped to 496,000 as Heavy Snow Caused Rise in Layoffs
In addition, many state agencies in the mid-Atlantic and New England regions that process the claims were closed due to the storms and are now clearing out backlogs, a Labor Department analyst said. Read More Here
(SeekingAlpha) – Something Very Strange Is Happening With Treasuries
There are times in life when one witnesses something so outside the scope of normal experience, that at first you don’t see it. Read More Here
(SydneyMorningHerald) – British lender RBS plans huge bonuses despite losses
Losses at Royal Bank of Scotland narrowed sharply last year, the state-rescued lender said Thursday as it prepared to dish out bonuses reportedly totalling 1.6 billion pounds (1.8 billion euros, 2.4 billion US dollars). Read More Here
(Reuters) – EMU could collapse if one member defaults -Germany
A debt default by one euro zone member could end the single currency union but this is unlikely, the head of the German debt management agency said on Thursday. Read More Here
(Reuters) – Tax officials caught over unpaid fines
There were some embarrassed faces at Bulgaria’s tax office on Thursday after an investigation found more than 400 tax inspectors had failed to pay their traffic fines. Read More Here
Wall Street Oligarchy and American Empire
(Infowars) – Citibank’s recent announcement that it may require seven days notice prior to honoring withdrawals is just the latest small brushstroke on a much larger canvas being painted by the banking system and the US government. The broader picture is shocking for those watching as it comes into view. Americans must heed Martin Luther King’s warning, “today our very survival depends on our ability to stay awake.” Continue reading
MSM: New U.S. senator helps Democrats advance jobs bill
(Reuters) – A modest job-creation bill advanced in the U.S. Senate on Monday as the chamber’s newest Republican bucked his party and sided with Democrats on a $15 billion package of tax cuts and highway spending. Continue reading
Video: Paul Criag Roberts on Alex Jones Tv – Outsourcing American Jobs to The Lowest Bidder!
Alex welcomes back to the show Paul Craig Roberts, economist and a nationally syndicated columnist who served as an Assistant Secretary of the Treasury in the Reagan Administration earning fame as the “Father of Reaganomics.” He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. Roberts is the author of The Tyranny of Good Intentions: How Prosecutors and Bureaucrats Are Trampling the Constitution in the Name of Justice, and How the Economy Was Lost: The War of the Worlds. Continue reading
Economy
(WSJ) – German Economic Expectations Deteriorate
German economic expectations deteriorated in February, indicating the economic recovery isn’t gaining any significant momentum. Read More Here
(MSNBC) – China cuts holdings in U.S. treasuries
The government said Tuesday that foreign demand for U.S. Treasury securities fell by the largest amount on record in December with China reducing its holdings by $34.2 billion. Read More Here
(NewsWithViews) – Congress Refuses to Bring Home Millions of Jobs
I was in Denver recently. As I refuse to fly commercial, I drive. From Big Spring, Texas, where I live, to Denver and back, the number one subject of discussion is jobs. People are very afraid; you can see it in their eyes and hear it in their voice as they say, “I thought we were in a recovery.” Read More Here
(ABC) – Food Stamps Create Jobs… in India
Several States With High Unemployment Are Outsourcing Food Stamp Services Read More Here
(FinancialTimes) – Lone voice warns of debt threat to Fed
The US must fix its growing debt problems or risk a new financial crisis, Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, warned on Tuesday, adding a mounting deficit could spur inflation. Read More Here
(MSNBC) – Rising tide of suburban homeless across U.S.
Homelessness in rural and suburban America is straining shelters this winter as the economy founders and joblessness hovers near double digits — a “perfect storm of foreclosures, unemployment and a shortage of affordable housing,” in one official’s eyes. Read More Here
(MailOnline) – One in ten ‘underemployed’ as record 2.8m workers are trapped in part-time jobs
A record 2.8million workers are trapped in unsatisfying or lowly paid part-time jobs. Read More Here
(GoldSeek) – All Roads Lead to Goldman Sachs – Read More Here
Crash Babies
Wow, I think I woke up on a different planet this morning. There has been economic crashes, rumors of crashes, but damn man some huge players are saying “IT IS GOING TO CRASH.” One heavy weight to check in is Barton Biggs, former head of Morgan Stanley who says here and I quote “Insure yourself against war and disaster by buying a remote farm or ranch and stocking it with “seed, fertilizer, canned food, wine, medicine, clothes, etc. because tshtf is coming.” Read More Here
(AP) – Report: Hawaii hotels lost $741M last year
A new report says hotels in Hawaii lost $741 million last year, $1.1 billion since the tourism slump began in 2008 Read More Here
(RawStory) – China’s holding of US Treasuries tumbles
China’s holding of US Treasury bonds has tumbled, according to US Treasury data released Tuesday, after Beijing expressed concern over the swelling US deficit and amid new US-China tensions. Read More Here
(AP) – Foreigners cut Treasury stakes; rates could rise
A record drop in foreign holdings of U.S. Treasury bills in December sent a reminder that the government might have to pay higher interest rates on its debt to continue to attract investors. Read More Here
Economy
(MoneyNMarkets) – RED ALERT: Next debt crisis near!
One year and five months ago — armed with a 92-page white paper and 59,000 petitions — we warned Congress about the grave danger of government bailouts Read More Here
(GlobalResearch) – White House Projects Long-Term Mass Unemployment
The White House Council of Economic Advisers released its Economic Report to the President on Thursday, outlining the administration’s economic projections and policies. The report shows that the White House is expecting mass unemployment to continue for years, with only minor decreases from the current rate of nearly 10 percent through 2012. Read More Here
Exclusive: Sweetheart Mortgage Deals for Billionaires that will Make Your Blood Boil
It all started with a phone call I received in early May/2009. The caller sounded troubled, as so many are these days. He told me he had spent several days researching his options. Read More Here
(KoreaTimes) – Fed Plans to Wind Down $2.2 Tril. Stake
The Federal Reserve Board faces a delicate task. Having pumped $2.2 trillion into the economy to fight the recession, it must start pulling that money back. It would have to sop up over half of that liquidity to get back to pre-recession levels. Read More Here
(NYTimes) – The Making of a Euromess
Lately, financial news has been dominated by reports from Greece and other nations on the European periphery. And rightly so. Read More Here
Five Million Workers to Exhaust Unemployment Benefits by June
Back in December, the qualification dates for existing tiers of unemployment benefits were extended for an additional two months. Time is up at the end of February. Read More Here
Video: (Frontline) – Tax me if you can – The Great American Tax Dodge – View Video Here
(TheAtlantic) – Unemployed? Your Banking May Have Just Become More Expensive
When you lose your job, the last thing you need is for your expenses to increase. Yet, at some banks, that’s exactly what can happen with your checking account. A friend of mine recently learned this lesson the hard way with Bank of America. I thought her experience might be worth sharing. Read More Here
Euroland, the Horror Movie
An Olympian game of musical chairs in global finance heads for a climax in the days ahead as so many eyes are diverted to alternate festivities in British Columbia, where grown men compete for gold by riding things that look like cafeteria trays down icy mountainsides — is this the moment that comes every four years when you wonder why you didn’t get your kid a luge for Christmas? Read More Here
(BBC) – Cut working week to 21 hours, urges think tank
The working week should be cut to 21 hours to help boost the economy and improve quality of life, a left-wing think tank has said. Read More Here
Video: Gerald Celente on ‘Grim’ Economic Report
“This is the beginning of a financial war” – Celente
(RussiaToday) – The annual Economic Report of the President was released yesterday and it’s pretty gloomy – predicting slow employment growth this year and next. It basically says that the US economy will add an average of 95,000 jobs a month this year, but that’s not enough to make much of a dent in unemployment. The unemployment rate is projected to come down quite slowly after that, averaging 8.2 percent in 2012, when Obama will be up for reelection. Continue reading
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