Economy

(TheStar) – European debt fears batter TSX

Fears that the effects of a government debt crisis could push Europe into a severe economic downturn sent the Toronto stock market tumbling Monday. Read More Here

(ComedyCentral) – Video: The Daily Show with John Stewart on Hoarders – Video Link Here

U.S. Debt Clock – View Clock Here

(ChartingStocks) – Why Gold And The Dollar Are BOTH Rising

An unusual dynamic has taken shape over the last few months – Both the US Dollar and Gold have been rising together. Normally, such a movement would seem counter intuitive as Gold is a commodity and commodities tend to move in the opposite direction of the US dollar. Read More Here

(FT) – Financial Crises Getting Worse Worldwide

The pace and severity of financial crises has taken an ominous turn for the worse. Over the past 30 years, a crisis has occurred, on average, every three years. Yet, now, only 18 months after the meltdown of late 2008, Europe’s sovereign debt crisis has hit with full force. With one crisis seemingly begetting another, and the fuse between crises now getting shorter and shorter, the world economy is on a very treacherous course. Read More Here

(Reuters) – Sears and Kmart to offer cash-for-gold service

Sears Holdings Corp (SHLD.O), which expanded its layaway program to help cash-strapped consumers pay for purchases during the recession, is now helping its customers exchange their jewelry for cash as gold prices soar. Read More Here

(Bloomberg) – `There’s No Money Left,’ U.K. Minister Learns From Predecessor

Arriving for work at the U.K. Treasury last week, the incoming chief secretary, David Laws, found a note from his predecessor, Liam Byrne, offering advice on the job.
“Dear Chief Secretary, I’m afraid to tell you there’s no money left,” Laws cited it as saying. Read More Here

Implode-O-Meter: Vicious Cycle – View Meter Here

(Bloomberg) – ‘There’s No Money Left,’ U.K. Minister Learns

Arriving for work at the U.K. Treasury last week, the incoming chief secretary, David Laws, found a note from his predecessor, Liam Byrne, offering advice on the job.

“Dear Chief Secretary, I’m afraid to tell you there’s no money left,” Laws cited it as saying.

“Which was honest,” Laws, whose position is the No. 2 in the Treasury after the chancellor of the exchequer, told a press conference in London today. “But slightly less than I was expecting.”

The note underscores the task facing Britain’s Conservative-Liberal Democrat coalition as it seeks to reconcile demand for improved health and education services with promises to reduce the largest budget deficit since World War II. Read More Here

(May 16) – Video: Alex Breaks Down “Death of The Middle Class” on Alex Jones Tv Sunday Editon

Alex breaks down the international banking cartels continued plunder of the middle class here in america and how far they will go. – Part 1 Here Part 2 Here

(TimesOnline) – Germans lose faith in EU

The multi-billion-euro payout for Greece, followed by an even more expensive rescue package for the threatened single currency, has created the greatest political climate change in a generation. Read More Here

(Bloomberg) – Stocks, Euro Plunge on Concern Austerity Plans to Curb Recovery

Asian stocks fell the most in almost six months, led by the Shanghai Composite Index’s 5 percent plunge, the euro dropped to its lowest against the dollar since 2006 and the cost of insuring bonds from default jumped on concern European austerity measures will derail the recovery. Read More Here

(PaulWatson) – Financial Terrorists Want Global Currency, Global Central Bank

During a recent speech at a conference of elitists in Zurich Switzerland, IMF chief Dominique Strauss-Kahn called for the introduction of a global currency backed by a global central bank which would act as the “lender of last resort” in the event of a severe economic crisis, which would represent another lurch towards fascist centralization of power by financial terrorists busy exploiting the fiscal chaos they created in order to impose world government.

Stating that “crisis is an opportunity,” Strauss-Kahn said that globalists should exploit the financial chaos plaguing the world in order to push for “a new global currency issued by a global central bank”. Read More Here

(BusinessInsider) – Germans Fantasize About New Rich-Nation Currency Bloc That Doesn’t Even Include France

Tonight’s must-read comes from Ambrose-Evans Pritchard at The Telegraph who offers some clear views on why the EU’s big shock & awe rescue plan is not having its desired result — why it hasn’t fully instilled confidence. Read More Here

(EconomicCollapseBlog) – The Extreme Frustration Of Unemployed Americans

When Barack Obama visited Buffalo recently, he was greeted by a billboard advertisement with a very pointed message about unemployment. In just a few words it summarized the frustrations of an entire region. The billboard along I-190 had this very simple message for Obama: ”Dear Mr. President, I need a freakin job. Period. Sincerely, inafj.org.” As word about this billboard got out, it quickly made headlines all over the United States. Why? Well, the truth is that millions of hard working Americans are extremely frustrated about their lack of work right now. When you don’t have a job and you can’t provide for your family, very little else seems to matter. In fact, according to a recent Gallup poll, unemployment is now the second most important issue to American voters. The number one issue is the economy. Read More Here

(AFP) – Euro rescue package ‘just buys time’: Merkel

A trillion-dollar package to shore up ailing eurozone economies merely buys time until the deficits of certain members of the 16-member zone are cleaned up, German Chancellor Angela Merkel said Sunday. Read More Here

(SilverBearCafe) – Rigging the Markets – How They Do It

While the rest of the financial world struggles, it might seem strange that four of the largest US banks have made record profits this past quarter – and not just on average, but every single trading day. Too good to be true? Indeed. Read More Here

(HuffingtonPost) – Detroit’s Unemployment Rate Is Nearly 50%, According to the Detroit News

As many have noted, the Bureau of Labor Statistics, which culls federal unemployment data, does not account for all of the jobless in its widely-quoted national unemployment figures. Among those omitted: part-time workers who are looking for full-time jobs and frustrated job seekers who abandon their job search altogether. Read More Here

(BeverlyHillsCourier) – Flood Of Calif. Businesses Abandon State

Numerous California businesses are packing up their bags and trading in the blue skies and hot weather to head east.

The Courier obtained a copy of the businesses leaving California this year. They are: Read More Here

(SKOptionsTrading) – Where next for Gold?

So far in 2010, all eyes in the gold market have been looking up at $1225 wondering whether gold get back to that all time high? Now that question has been answered yet another arises, where next for gold? Read More Here

(SteveWatson) – Video: Ron Paul – Those Who Voted Against Audit The Fed Will Pay The Price

Texas Congressman Ron Paul appeared on CNBC’s Squawk Box earlier today to discuss the financial crisis and his ongoing effort to audit the Federal Reserve.

Paul, speaking publicly for the first time since the Senate passed a watered down version of his HR1207 amendment to fully audit the Fed, said that those who had essentially voted for more Fed power would see repercussions. Continue reading

‘Greece being forced to buy arms’

(PressTV) – A leading European parliamentarian has accused France and Germany of forcing Greece to buy billions of euros in arms in exchange for their bailout money.

France and Germany, while publicly urging Greece to make harsh public spending cuts, bullied its government to confirm billions of euros in arms deals, Franco-German lawmaker Daniel Cohn-Bendit alleged on Friday. Continue reading

Europeans Reject Swine Flu Vaccine

Danes, Finns, Germans, French, Spanish, Belgians, Dutch all refusing to roll sleeves up despite government, media pressure Continue reading

German Chancellor, Ministers Get Special Vaccine Without Soft Kill Ingredients

Spiegel Online is reporting that German Chancellor Angela Merkel and government ministers will receive a special, additive-free H1N1 vaccine. “The Vakzin [vaccine] does not contain disputed additives — contrary to the vaccine for the remainder of the population,” reports the newspaper. Continue reading

UN Calls For Bank Of The World, New Global Currency

Proposals for a new centralized economic world order outlined in globalist report Continue reading

World Prepares to Dump the Dollar

American economists think the world can’t afford to let go of the dollar’s reserve currency status. The world is about to teach them differently. Continue reading

MSM: Obama says climate bill just the beginning

(WTimes) – President Obama on Friday said the global warming bill the House is debating today is only a start, not the end of efforts to control greenhouse gas emissions. Continue reading

Are You Ready for War with a Demonized Iran?

(Paul Craig Robers) – How much attention do elections in Japan, India, Argentina, or any other country, get from the U.S. media? How many Americans and American journalists even know who is in political office in other countries besides England, France, and Germany? Who can name the political leaders of Switzerland, Holland, Brazil, Japan, or even China? Continue reading

MSM: The depression quietly deepens

(Telegraph) – Those of us who still question whether the world has purged its toxins are reduced to the same tiny band of moaning Druids from early 2007, when we shook our heads in disbelief as the carry trade swept Iceland to fresh madness and bankers laughed off sub-prime rot at Bear Stearns. Continue reading

MSM: Germany Blasts ‘Powers of the Fed’

(WSJ) – German Chancellor Angela Merkel, in a rare public rebuke of central banks, suggested the European Central Bank and its counterparts in the U.S. and Britain have gone too far in fighting the financial crisis and may be laying the groundwork for another financial blowup. Continue reading

“The True Story of the Bilderberg Group” and What They May Be Planning Now

A Review of Daniel Estulin’s book

For over 14 years, Daniel Estulin has investigated and researched the Bilderberg Group’s far-reaching influence on business and finance, global politics, war and peace, and control of the world’s resources and its money. Continue reading

MSM: Analysis – Crisis may lead to new world order

(CNN) – Can this G-20 summit prove to be anything more than group therapy for a bunch of fingernail-gnawing, troubled individuals? Continue reading

Obama Denounces Global Currency While Creating The Very Means For Its Introduction

Obama, Geithner and Bernanke yesterday publicly defended the dollar and denounced proposals by China and Russia to supplant the greenback with a new global currency, and yet the very policies of the Obama administration, the Treasury and the Federal Reserve are creating the perfect storm for the dollar’s death and its replacement with a new international reserve currency. Continue reading

China Voices Support For New Global Currency To Replace Dollar

China has expressed support for Russia’s proposal to hand the IMF the power to create a new supra-national global currency in response to the call for an alternative to the U.S. dollar as the world reserve currency.

Continue reading

German Chancellor Merkel Calling for Raids on Homes

Today, German Chancellor Angela Merkel demanded even tougher gun control measures relating to storage of firearms and ammunition in Germany. With an audacity that defies belief the former East German communist also called for unannounced raids on homes and offices of registered firearm owners. Continue reading

MSM: Germany to spend stimulus funds on defense

The German government is to spend part of its €50bn economic stimulus package on supplies for its armed forces, possibly including submachine guns, military vehicles and underwater mine detectors. Continue reading

MSM: World is facing most challenging financial crisis since 1920s – Angela Merkel

German chancellor Angela Merkel warned on Wednesday that the world was facing its worst financial crisis since the 1920s, but nearly three-quarters of Germans remained unworried about the safety of their bank savings in a survey.

“We must prepare ourselves for a weakening of growth in Germany,” Merkel said in a speech in parliament as she hoped to shore up support for the government’s €480 billion rescue package announced Monday. Continue reading