Economy

(Alternet) – Poverty: It’s Not Just for Black Urbanites Anymore! – And of course it never was. – Read More Here

(NYDailyNews) -Japanese PM Naoto Kan warns of Greece-level ‘collapse’ under debt pile – Read More Here

(Money&Markets) – Debt Facade Cracking in U.K. as Sovereign Contagion Spreads – Read More Here

REPOST – (MarketOracle) – Debt Can Never Be Repaid, By Bankster Design

You really have to hand it to the banksters. As was painstakingly detailed in the book Creature from Jekyll Island, the banking elite devised a brilliant plan in November of 1910 on Jekyll Island in which to take over control of the United States, steal the wealth from the taxpayers and the resources from the country. Read More Here

(EconomicPolicyJournal) – Analyst to Money Managers: Take Your Cell Phones with You on Vacation; Greece Could Default in August

Greece will eventually default on its debt because the country is highly indebted, Carl Weinberg, chief economist at High Frequency Economics, said on CNBC this morning. Read More Here

(MailOnline) – Doomed Labour’s £1.3 TRILLION last spending spree revealed: As the economy nosedived, your millions were wasted on grandiose schemes – Read More Here

(InfoClearingHouse) – One Bank Ruled Them All; Trichet’s Powergrab – Mike Whitney – Read More Here

(BusinessInsider) – The Stunning Crash And Burn Of Las Vegas

There are quite a few U.S. cities that are complete and utter economic disaster zones in 2010 (Detroit for example), but there is something about the demise of Las Vegas that is absolutely stunning. Read More Here

(MineWeb) – U.S. asset managers worried Obama could confiscate gold

Speaking at the FT Silver conference in London yesterday, lead-off speaker John Levin, HSBC Bank’s Managing Director, Global Metals and Trading (HSBC is one of the world’s top precious metals traders and its vaults in the U.S. and Europe hold huge holdings of gold and silver bullion) recounted conversations with some of the U.S.’s top asset managers controlling massive amounts of capital asking if HSBC had the capacity in its vaults to store major gold purchases. On being told that the bank’s U.S. vaults had sufficient space available he was told that they did not want their gold stored in the U.S.A. but preferably in Europe because they feared that at some stage the U.S. Administration might follow the path set by Franklin D. Roosevelt in 1933 and confiscate all U.S. gold holdings as part of the country’s strategy in dealing with the nation’s economic problems. Read More Here

(NYDaily) – Gov. Paterson: Shutdown over budget would cause ‘unimaginable chaos,’ crime in New York

Gov. Paterson went into full doomsday mode Thursday, warning of chaos and anarchy in the streets if the government shuts down.
“It would create unimaginable chaos around the state and the greater metropolitan area,” Paterson said on WCBS Radio 880 this morning. Read More Here

(AP) – Retail sales drop 1.2 percent in May

Retail sales plunged 1.2 percent last month, the Commerce Department said Friday. It was the largest decline in eight months. Read More Here

(BusinessInsider) – Social Security Payouts Are Already Crippling The Government This Year

There is enough published information from the Social Security Trust Fund to make some observations for the first six months of 2010. The data on FICA/SECA tax receipts and benefit payments: (all amounts in $billions) Read More Here

(PakAlert) – Warning Signs Of Full Spectrum Collapse Are Everywhere

The sovereign debt crisis in Greece and many other European nations has, at least for the moment, opened a gap in the wash of financial disinformation that has prevailed in the mainstream media for the past year. The average American is now more aware of the terrible costs of living in an artificially driven and widely manipulated “global economy”, and has also been exposed (at least for the moment) to the very real frailties in our own markets, which have been hidden or downplayed by the government as well as disingenuous establishment economists. Events in the EU, however, are only a glimpse of the greater and more imminent threats we face in the near future. In this article we will look at some of the latest and most disturbing moves by governments and financial institutions, as well as tell-tale signs in our own local cities, which signal that a full-spectrum collapse of world markets and possibly our own currency is not only in progress, but nearing completion.

Economy

(FoxBusiness) – Video: Ready for Triple-Digit Oil Prices? – View Video Here

(ThinkProgress) – ExxonMobil paid no federal income tax in 2009.

Last week, Forbes magazine published what the top U.S. corporations paid in taxes last year. “Most egregious,” Forbes notes, is General Electric, which “generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion.” Big Oil giant Exxon Mobil, which last year reported a record $45.2 billion profit, paid the most taxes of any corporation, but none of it went to the IRS: Read More Here

(Forbes) – What The Top U.S. Companies Pay In Taxes Read More Here

(WND) – America’s future? U.S. cities going bust – Jerome Corsi

In what may be the beginning of an explosion of city insolvency across the U.S., the city of Vallejo, Calif., with a population of 117,000 in the San Francisco Bay area, has filed bankruptcy, Jerome Corsi’s Red Alert reports. Read More Here

(OpEd) – The SCAM behind NAIS – “Our Land: Collateral for the National Debt” – Read More Here

(Reuters) – Special Report:Holy bubble! Churches struck down by foreclosures Read More Here

(WSJ) – Shortfall Awaits California’s Big Pension Funds

A study released Monday by Stanford University estimates that California’s three largest state-operated, public-employee pension funds—the California Public Employees’ Retirement System, California State Teachers’ Retirement System and University of California Retirement System—currently face a total shortfall of more than $500 billion. Read More Here

(MoneyNews) – Report: Panicky Investors Pull Cash Out of Greek Banks

Greek banks are being hit by a wave of redemptions as rich citizens and companies look to move their money to big global banks or offshore as the country’s debt crisis rages, the Telegraph newspaper reported on its Web site. Read More Here

(SicSempterTyrannis) – Video: Is the U.S. on its way toward a Debt Disaster? – Video Link Here

(BusinessInsider) – Meet The 26 Members Of George Soros’s Secret Team To Rewrite Economics – Read More Here

(MyBudget360) – What does it mean to be Middle Class in 2010? Beholden to the Banking Elite – Read More Here

(Telegraph) – Public sector pension black hole to cost taxpayers an extra £330 a year

Workers will have to pay an extra £330 a year each in tax to help plug the growing black hole in the cost of public sector pensions, business leaders warned last night. Read More Here

(RussiaToday) – Video: William Engdahl – US won’t recover for at least 15 years – View Video Here

(LATimes) – L.A. controller warns that city could exhaust general fund next month [Updated]

Los Angeles Controller Wendy Greuel on Monday said she expects the city’s general fund “will be out of money” by May 5 and that L.A. will likely deplete its reserve funds and be in the red by June 30. Read More Here

Video: Gerald Celente on the Regular Guys Show – April 1, 2010 – Video Link Here

(WashingtonsBlog) – Proof that Regulators Knew of and Allowed Debt-Hiding Accounting Tricks Like Lehman’s Repo 105

Regulators like the Fed and SEC have said they didn’t know about Lehman’s use of Repo 105s to hide its mountain of debt. Read More Here

(LegislativeGazette) – Paterson delays school aid for a second time

One day before state school aid was set to be paid to local districts, Gov. David A. Paterson decided that due to a shortfall in the state’s cash flow, the aid will be delayed by up to two months. Read More Here

(TheComingDepression) – FDIC wants your retirement cash to save banks: Bloomberg

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work with all investors.”

It should be very very obvious that all future money will be in the hands of the globalist elites who will rob and plunder the worlds economies into their privately owned and ruled banks who will dump all of the nations accumilated wealth into their coffers. Gone will be all social security and 401Ks and all pensions as they will take everything that people own and steal it for their own use (like paying interest on loans that can never be repaid). Read More Here

(SFGate) – National debt seen heading for crisis level

Health care may have been the last big bang of the Obama presidency. Read More Here

(OrlandoSentinel) – Foreclosures’ coming wave: Commercial properties – Read More Here

(HuffingtonPost) – More Than 200,000 Could Lose Unemployment Benefits This Week

Thanks to congressional inaction, more than 200,000 laid-off workers could lose access to unemployment benefits this week, and no flood insurance policies will be renewed or issued until Congress returns on April 12 — despite record long-term joblessness and record rainfall. Read More Here

Video: Comex can easily go bankrupt – get physical gold & silver! – Peter Schiff – Video Link Here

(KingWorldNews) – Video: Gerald Celente, Prepare for new-survivalism

Economy

(WSJ) – Economists Say Fed Saved the U.S. Economy

The $787 billion stimulus package was a good for the economy, but the Federal Reserve played the biggest role in rescuing the U.S. economy from the financial crisis, according to the majority of economists in the latest Wall Street Journal forecasting survey. Read More Here

(InternationalForecaster) – Pondering Our Collapse While We Watch Others Fall – Bob Chapman

Every important factor we see is working against the dollar and we believe that trend is irreversible. That means the present dollar rally probably cannot endure and it could well be the time to short the USDX. Read More Here

(AFP) – Police battle demonstrators in strike-hit Greece

Greek police battled demonstrators on Thursday as the country ground to a halt in the latest protest strike against government austerity measures aiming to end a crippling debt crisis. Read More Here

(EUObserver) – EU wants answers on Wall Street role in Greek debt

The European Commission has said it is seeking answers following allegations that Wall Street investment banks helped Greece hide the extent of its debt. Read More Here

(Reuters) – Strike Paralyzes Greece; Protests Turn Violent

Greek public and private sector workers went on strike on Thursday, grounding flights, shutting schools and halting public transport in the second nationwide walkout in two weeks in protest against austerity plans. Read More Here

(CrainsNY) – Gov: Budget failure could cause NY depression

Gov. David Paterson attempts a town hall meeting about the state’s budget issues in Brooklyn amid rumors on his political future. Some humor emerges amid the defiance. Read More Here

(WSJ) – School Crisis Rattles Missouri

The Kansas City Missouri School Board voted Wednesday night to shutter nearly half of its schools in an effort to avoid going broke. Read More Here

(MSNBC) – Fannie, Freddie’s $125 billion tab still growing

Sixteen months after being seized, the firms remain wards of the state Read More Here

(NYTimes) – 972 Foreclosure Filings in Hawaii in February – Read More Here

(AP) – City Closes Public Schools, Stops Bankruptcy

The school board narrowly approved the plan Wednesday night to close 29 of the district’s 61 schools to try to stave off bankruptcy. The closures have angered many parents, students and teachers, but administrators say they had no choice. View Video Here

(ZeroHedge) – It’s Going To Implode: Buy Physical Gold – NOW

Evidence seems to be mounting that we are headed towards some sort of implosion in the paper Gold market, and perhaps the currency/bond markets in general. Let’s take a look: Read More Here

MSM: National Guard For NY Airport Security

(Fox40) – Governor David A. Paterson today advised passengers traveling into or out of New York airports to allow extra time to check in and continue through security screenings prior to their flights. As these measures will add time to standard pre-flight procedures, travelers should arrive an additional hour earlier to mitigate delays.

MSM: Paterson – ‘New York Has Run Out Of Cash’

Gov. David Paterson said Wednesday that New York has run out of cash and he’s directing budget officials to reduce state aid payments to schools, local governments and nonprofit service providers until things improve.

MSM: New York Gov declares a state emergency to deal with the swine flu

(NYDaily) – Gov. Paterson has declared a state emergency to deal with the swine flu.
The declaration allows health care professionals including pharmacists, dentists and midwives to administer vaccinations for the H1N1 virus so long as they receive proper training.

Nonprofits land security money without proving real danger

In the past four years, the federal government has given $64 million in grants to nonprofit groups it considers at risk of attack from international terrorists.

But is that the best use of the nation’s Homeland Security money?

Taxpayers Furious With Budget Cuts Take Frustration To Streets Of NYC

Thousands of New Yorkers marched on City Hall on Friday to protest the proposed budget cuts in a self-described “Rally For New York.”