What collapsing empire looks like – Glenn Greenwald

(Salon) – As we enter our ninth year of the War in Afghanistan with an escalated force, and continue to occupy Iraq indefinitely, and feed an endlessly growing Surveillance State, reports are emerging of the Deficit Commission hard at work planning how to cut Social Security, Medicare, and now even to freeze military pay. But a new New York Times article today illustrates as vividly as anything else what a collapsing empire looks like, as it profiles just a few of the budget cuts which cities around the country are being forced to make. This is a sampling of what one finds: Read More Here

Video: Alex Jones Tv – Youtube Caught yet Again Messing with ChangeDaChannel’s Account!

Alex talks with Kenneth Web of ChangeDaChannel about youtube messing with his account causing a pay per-view notice to be posted before you could even watch the video. Continue reading

Economy

(CNN) – U.S. declares fisheries disaster in oily Gulf

Fishing is a $2.4 billion industry in the Gulf states. Louisiana Gov. Bobby Jindal and Mississippi Gov. Haley Barbour requested the declaration, “based on the loss of access to many commercial fisheries and the existing and anticipated environmental damage from this unprecedented event,” the statement said. Read More Here

(OftWoMinds) – Going Long, Going Deep, Going Broke: ZIRP and the Imploding Speculative Economy

A slow-growth real economy has been replaced with a credit-based speculative financial economy dependent on low interest rates and systemic fraud to survive. It is now imploding on a global scale. Read More Here

(DailyBail) – SPECIAL TREATMENT: Bailout Of Bank With Obama Ties Raises Eyebrows; Citi, Goldman, Taxpayers To Rescue

Sources said Tuesday that after overnight meetings, a group of Wall Street giants and some Chicago banks agreed to provide ShoreBank $125 million to $140 million. The saviors range from Goldman Sachs Group Inc. and Citigroup Inc. to Chicago’s Northern Trust Corp. and PrivateBancorp Inc., sources said. A new infusion of about $20 million from GE Capital pushed ShoreBank over the top, they said. Read More Here

(C4L) – More Blank Checks to the Military Industrial Complex – Ron Paul

Congress, with its insatiable appetite for spending, is set to pass yet another “supplemental” appropriations bill in the next two weeks. So-called supplemental bills allow Congress to spend beyond even the 13 annual appropriations bills that fund the federal government. These are akin to a family that consistently outspends its budget, and therefore needs to use a credit card to make it through the end of the month. Read More Here

(EuroNews) – Romanians protest wage and pension cuts

In one of the largest mass protests since the fall of communism, around 50,000 Romanians took to the streets of Bucharest on Wednesday.

They are furious at drastic cuts to state wages and pensions proposed by the government to reduce the country’s ballooning budget deficit. Read More Here

(Reuters) – IMF: Spain must make wide ranging reforms, weak recovery

Spain must make far reaching, comprehensive reforms, including to the labour market, while its economic recovery remains fragile, The International Monetary Fund said on Monday. “The challenges are severe: a dysfunctional labor market, the deflating property bubble, a large fiscal deficit, heavy private sector and external indebtedness, anemic productivity growth, weak competitiveness, and a banking sector with pockets of weakness,” the IMF said in an annual report on Spain. Read More Here

(Bloomberg) – Gold Rising as Euro Weakens Spurs More Speculation

Speculators are buying gold faster than the world’s biggest producers can mine it as analysts forecast a 27 percent rally that may extend the longest run of annual gains since at least 1920. Read More Here

(USAToday) – Private pay shrinks to historic lows

Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds. Read More Here

(TheEconomicCollapse) – 25 Questions To Ask Anyone Who Is Delusional Enough To Believe That This Economic Recovery Is Real

If you listen to the mainstream media long enough, you just might be tempted to believe that the United States has emerged from the recession and is now in the middle of a full-fledged economic recovery. In fact, according to Obama administration officials, the great American economic machine has roared back to life, stronger and more vibrant than ever before. But is that really the case? Read More Here

(WND) – Obama to snatch up to 75% of your income – Jerome Corsi

Federal government could confiscate more than half of everything earned Read More Here

(MarketWatch) – Warning: Crash Dead Ahead. Sell. Get Liquid. Now

Commentary: ‘Game’s in the refrigerator.’ Power’s turning off. Dow sinking below 6,470 Read More Here

(Bloomberg) – Video: Marc Faber – Greece Is Just a Write-off – Video Link Here

(CNBC) – Video: Peter Schiff on CNBC – is US The Next Greece or Japan? Continue reading

MSM: The Bank Showing ‘Restraint’…With A 48% Rise in Bonuses

(Express) – GREEDY bankers are still paying themselves huge bonuses in an arrogant disregard of the anger felt by millions of people who are battling to survive the recession. Continue reading

MSM: Millions face new pay freeze in 2010

(Times) – Millions of people face a second year of pay freezes or salary cuts next year, dashing hopes that the end of the recession will ease the squeeze on family budgets. Continue reading

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

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

Obama Allies Want New Tax To Pay For Cost Of Protecting Afghan Opium Fields, Bribing Taliban

(PaulWatson) – Not content with savaging American taxpayers with two huge new financial burdens during an economic recession, in the form of health care reform and cap and trade, close allies of Barack Obama have proposed a new war surtax that will force Americans to foot the bill for the cost of protecting opium fields in Afghanistan, paying off drug lords, and bribing the Taliban. Continue reading

Obama set to unveil ‘too big to fail’ plans

The Obama administration plans to unveil on Monday a new plan for dealing with troubled financial giants, said a senior U.S. lawmaker, who also mentioned potentially big changes for the insurance industry. Continue reading

The Widening Gap In America’s Two Tiered Society

Americans, particularly ones from the middle class, need to realize that there are no core entitlements imparted by their government representatives, nor any other sources. They have none and should adjust their expectations accordingly. Continue reading

Mind The Gap – The Widening, Worsening Pay Gap Between the CEO and the American Worker

According to the Institute for Policy Studies (www.ips-dc.org) which has been tracking executive pay since 1994, there’s a widening compensation gap between U.S. CEOs and American workers, and there’s no end in sight. Continue reading

MSM: The Real Reason Americans Are Angry – It’s The Big Government, Stupid

(NYPost) – It’s been a hilarious August, watching media supporters of President Obama’s health care package puzzle over the obscure motivations of the noncompliant Americans rallying against it. Continue reading

Searching for the Depression and Finding It

(DannySchechter) – Economic Stress Is Hidden, But It’s There in a Recovery That Isn’t. Continue reading

Weimar Germany’s Hyperinflation Was Nothing Compared to Other Countries

(WashingtonsBlog) – You’ve heard how bad things were in the Weimar Republic, when people would rush straight to stores to buy food after receiving a pay check because their money would buy much less the next day. Continue reading

MSM: £27,000 swine flu bonus for GPs (who already earn £107,000)

(DailyMail) – Family doctors could see their salaries soar by £27,000 once a swine flu vaccination programme is in place, the Daily Mail can reveal. Continue reading

MSM: Banks Paid $32.6 Billion in Bonuses Amid U.S. Bailout

(Bloomberg) – Citigroup Inc., Merrill Lynch & Co. and seven other U.S. banks paid $32.6 billion in bonuses in 2008 while receiving $175 billion in taxpayer funds, according to a report by New York Attorney General Andrew Cuomo. Continue reading

USA Today report: Workers face worst conditions since the Great Depression

Even as US unemployment rolls soar to their highest levels in post-war history, employed workers face the worst conditions since the Great Depression, according to a front-page article in Friday’s USA Today. Continue reading