Economy

(ABC) – Factory Orders Drop More Than Expected – Read More Here

(CNNMoney) – Job recovery hits a wall – Read More Here

(Independent) – Johann Hari: How Goldman gambled on starvation

Speculators set up a casino where the chips were the stomachs of millions. What does it say about our system that we can so casually inflict so much pain? Read More Here

(ATR) – Six Months to Go Until The Largest Tax Hikes in History

Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below Read More Here

(ABCNews) – Walmart CEO Pay: More in an Hour Than Workers Get All Year? – Read More Here

(Telegraph) – Middle class families face a triple whammy

You don’t usually expect radical neo-Marxism from the International Monetary Fund – the last great bastion of capitalism, spreading the gospel about the free market to the furthest reaches of the world. And yet, hidden away in an obscure IMF report a few years back is a short sentence that explains precisely the problems that Britain, and the rest of the Western world, have been sleepwalking towards for years.

The claim made by the IMF’s Financial Stability Report in 2005, in a seemingly throwaway remark, was that households had become the financial system’s “shock absorber of last resort”. In other words, whereas in previous eras, much of the pain of recession and financial crisis was borne by businesses or governments, with families afforded some degree of protection by the pensions system or welfare state, it was now households who were far more likely to face the music. Read More Here

(HuffingtonPost) – Expired Unemployment Benefits Causing Panic, Desperation: ‘I’m Drowning Fast’

Debra Rousey of Gainesville, Georgia, says that she received an unemployment check of $194 last week, half the usual amount she receives, along with a letter announcing that this check would be her last. She is now in a complete panic over what to do next. Read More Here

(DailyCrux) – Doug Casey: Going to these colleges serves no useful purpose whatsoever

There is no point at all in going to a college today, unless you’re looking to learn a trade. Or, perhaps, because the people you meet in college might be of some future benefit to you. In other words, it’s pointless unless it’s Harvard, Princeton, Yale, or the like. Because of the classes? No. It’s because the kids that go to such schools are the most intelligent and ambitious “up and comers” – so the connections you make and the patina you get at these places can open a lot of doors. Read More Here

(FoxNews) – Pelosi: Unemployment Checks Fastest Way to Create Jobs“It creates jobs faster than almost any other initiative you can name.” Read More Here

(July 1) – Video: Alex Jones Tv – Dollar Plunges After UN Call To Ditch Greenback! – Video Link Here

(July 1) – Video: Ron Paul – 114 Flip Flop on Audit The Fed Causing Bill to Fail 229 – 198

(AFP) – US jobless claims surge more than expected – Read More Here

(Bloomberg) – Goldman Sachs Pressed By Born for Derivatives Data

Goldman Sachs Group Inc. refused a request from the Financial Crisis Inquiry Commission to reveal how much it makes trading derivatives, saying the bank doesn’t separate the figure from other businesses. Read More Here

(CNNMoney) – House passes unemployment benefits extension

After a failed attempt earlier this week, the House voted to extend the deadline to file for federal jobless benefits Thursday. But the bill will be stuck in limbo as Congress takes a weeklong summer break.

The bill would extend the deadline to file for extended unemployment benefits through November, and would retroactively pay out claims to those who saw their benefits expire in May. Read More Here

(LRCBlog) – Audit-the-Fed Goes Down, 229-198

This is no surprise. Neither party wants to audit the counterfeiting enterprise that is at the dark heart of the regime. Read More Here

(EconomicCollapseBlog) – Mortgage Horror Stories: The U.S. Housing Industry Will Never Recover If Qualified People Can’t Get A Home Loan – Read More Here

(IrishTimes) – One million protest against Italy’s austerity cuts

About 100,000 people, according to union estimates, demonstrated in the central city of Bologna, capital of a traditionally leftist area with a strong labour movement. Read More Here

(TheHill) – Top Republican: Raise Social Security’s retirement age to 70

Boehner, the top Republican lawmaker in the House, said raising the retirement age by five years, indexing benefits to the rate of inflation and means-testing benefits would make the massive entitlement program more solvent. Read More Here

(USAToday) – National debt soars to highest level since WWII

The federal debt will represent 62% of the nation’s economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget outlook released today by the non-partisan Congressional Budget Office. Read More Here

Climategate

(WattsUpWithThat) – New Zealand’s Prime Minister: Climate Change bill a “load of rubbish” and “hoax”

Via Andrew Bolt in email, some surprising revelations about New Zealand’s Prime minister and his previous opinion of the ETS. It appears he has done a complete about face from his very strong opinions of 2005. Read More Here

(WattsUpWithThat) – Climate Craziness of the Week: The AGU peddles a mammoth climate change theory – Read More Here

Video

(RawStory) – Video: MSNBC’s Ratigan – Stock market an ‘obviously corrupt’ fraud

On his afternoon show Tuesday, MSNBC host Dylan Ratigan explained why he believes the usual explanations given in the media for why the stock market went up or down on a given day are nonsense.

“Seventy percent of the volume [of trades on the stock market] is computers that are run by the banks playing ping pong with stocks for 10 seconds at at time,” Ratigan said. Continue reading

Daniel Ellsberg fears a US hit on Wikileaks founder Julian Assange

(RawStory) – Daniel Ellsberg, who gained fame when he leaked the Pentagon Papers in 1971 in hopes of ending the Vietnam War, told MSNBC’s Dylan Ratigan on Friday that he not only sees a parallel between himself and the person who recently leaked a video of an assault by US forces on Iraqi civilians but also fears for the safety of Wikileaks founder Julian Assange, who published the video. Continue reading

Government by dicts: my comprehensive resources to prove US fascism and rigged-casino economics

(Examiner) – Fellow Americans: literally for the love of God, it’s time.

It’s time to recognize the overwhelming evidence of unlawful and lie-based US Wars of Aggression, rigged-casino economics, and a complicit corporate media that echoes propaganda for our lying sacks of spin “leaders” who operate above and in contempt of US law.
It’s time to recognize “leadership” of both parties are the Left and Right arms of one oligarchic political body. The proper academic label for this government, not even close to a constitutional repubulic, is fascism.
The US government is run by dicts, as in dictatorship; doing whatever they dictate and unlimited by rule of law.
It’s time to see what’s right in front of us: documentation from government itself brazenly admitting they lord over TRILLIONS of our dollars in investments while cutting essential services and refusing to enact obvious economic solutions. Just a fraction of one percent of these investments restore public services; but our “leaders” hope we’re too stupid to notice and too weak to demand policy that benefits the public rather than the oligarchy. The largest transfer of wealth in human history is happening before us: taxpaying masses being parasitized by banksters. Continue reading