MSM: Nasa warns solar flares from ‘huge space storm’ will cause devastation

(Telegraph) – National power grids could overheat and air travel severely disrupted while electronic items, navigation devices and major satellites could stop working after the Sun reaches its maximum power in a few years.

Senior space agency scientists believe the Earth will be hit with unprecedented levels of magnetic energy from solar flares after the Sun wakes “from a deep slumber” sometime around 2013, The Daily Telegraph can disclose.

In a new warning, Nasa said the super storm would hit like “a bolt of lightning” and could cause catastrophic consequences for the world’s health, emergency services and national security unless precautions are taken. Read entire article

Economy

(CommitteeForAbolitionOfThirdWorldDebt) – Eurozone Economic Crisis: Call For a European Mobilisation Against the Dictatorship of the Creditors

Text of the La Marlagne Declaration Read More Here

(HuffingtonPost) – Tier 5: The Despair Of The 99ers

Hundreds of thousands of long-term unemployed people across the country are watching in despair as Congress limps toward a reauthorization of jobless aid programs that won’t even help them.

They are the 99ers, people who have exhausted the maximum 99 weeks of unemployment benefits available in some states. Read More Here

(MotherJones) – Soldier in Iraq Loses Home Over $800 Debt

Michael Clauer is a captain in the Army Reserve who commanded over 100 soldiers in Iraq. But while he was fighting for his country, a different kind of battle was brewing on the home front. Last September, Michael returned to Frisco, Texas, to find that his homeowners’ association had foreclosed on his $300,000 house—and sold it for $3,500. This is story illustrates the type of legal quagmire that can get out of hand while soldiers are serving abroad and their families are dealing with the stress of their deployment. And fixing the mess isn’t easy. Read More Here

(ZeroHedge) – Dollar to be Replaced with IMF’s SDR as Reserve Currency?

Jim O’Neill, who did not make any friends within the bear community earlier today, has written an interesting paper on the IMF’s Special Drawing Rights, and whether this hypernational currency can ever become a reserve currency as is, and/or with the CNY as a constituent member. Read More Here

(Globe&Mail) – Greece could set off bigger debt bomb

Let’s play a little game called Disaster. Imagine an event that could trigger a genuine, knock ’em down, worldwide catastrophe. Think of Pearl Harbor, multiplied by 10, or even 100. Read More Here

(BizJournals) – N.C. loses 1,800 more construction jobs

North Carolina lost 1,800 jobs in the construction industry in April, according to a report released Friday. But the study also shows the industry’s nationwide slowdown is beginning to wane. Read More Here

(Bloomberg) – Berlusconi Says $30 Billion of Budget Cuts Needed to Save Euro – Read More Here

(CNBC) – More Cities on Brink of Bankruptcy – Read More Here

(BizJournals) – Cincinnati State hikes tuition 3.5% – Read More Here

(HoweStreet) – Miami Commissioner Says Bankruptcy is City’s Best Hope; Chris Christie Says New Jersey Careens Towards Becoming Greece – Read More Here

(CNNMoney) – Youth jobless crisis could have lasting impact – Read More Here

(NBCMiami) – Video: Miami Budget Begging for Bankruptcy – Video Link Here

(WPost) – 100,000 teachers nationwide face layoffs – Read More Here

(AmericanThinker) – Folly Central: Obama Considers Another Stimulus

Another stimulus. That’s right. You read correctly. The U.K.’s Telegraph reports that dour President Obama and his cadre of thick-headed left-wing ideologues are weighing additional borrowing. This time to the tune of $200 billion. Paltry when stacked against the trillions in debt the nation is already massing? Can you say the “tyranny of compounding interest?” Read More Here

(BusinessInsider) – The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’

The negative take is that this crashing money supply will lead to both deflation and a double dip recession: Read More Here

(ABCNews) – National Debt Soars Past $13 Trillion – Read More Here

(EconomicPolicyJournal) – Subprime Goes to College: $300 Billion in Defaults Coming

Mike O’Rourke (Via ZeroHedge) has a nice summary of yesterday’s Ira Sohn Research Conference.

Of note was Frontpoint’s Steve Eisman, who has spotted another private sector industry that is in bed with government big time ,that is taking advantage of the poor, and will collapse. Here’s O’Rourke’s report on Eisman’s speech: Read More Here

(TaxProf) – Gird Your Loins: IRS ‘Wealth Squads’ Are on the Way

Newly created exam teams will scrub wealthy taxpayers’ hedge funds, trusts and foreign accounts. Read More Here

(DailyFinance) – BankWatch: TARP Investments Lead to Huge Losses for U.S. Treasury

As struggling banks get acquired or fail, the U.S. Treasury is shouldering a growing burden: Its investments in TARP are turning out to be a bust, leading to huge losses. And there are signs of more trouble ahead. Read More Here

(AmericanThinker) – Another Sham Stimulus Bill – Read More Here

(WashingtonPost) – 100,000 teachers nationwide face layoffs

Senior congressional Democrats and the Obama administration scrambled Wednesday to line up support for $23 billion in federal aid to avert an estimated 100,000 or more school layoffs in a brutal year for education budgets coast to coast. Read More Here

(InfoClearingHouse) – Credit Storm in Europe; Politics on Capital Hill – Mike Whitney

Credit market turmoil in the Eurozone has ignited frenzied trading on global markets. On Tuesday, shares tumbled nearly 300 points on the Dow Jones before launching an unconvincing 257-point late-day comeback. Wednesday the mayhem continued; all the major indexes seesawed wildly as positive news on durable goods was nixed by reports on wobbly EU banks. Read More Here

(HuffingtonPost) – The Cult of Subprime Central Bankers

The world is suffering from the worst downturn since the Great Depression. The crisis has left tens of millions unemployed in the U.S., Europe, and elsewhere. The huge baby boomer generation in the United States, now on the edge of retirement, has seen much of its wealth destroyed with the collapse of the housing bubble. Read More Here

(WSJ) – Banks Trim Debt, Obscuring Risks

Three big banks—Bank of America Corp., Deutsche Bank AG and Citigroup Inc.—are among the most active at temporarily shedding debt just before reporting their finances to the public, a Wall Street Journal analysis shows. Read More Here

(Fox) – Video: Freedom Watch – Reigning in National Debt

May 26 – What role did supply-side economics play in creating U.S. deficit? Continue reading

BP Oil Volcano

(DigitalJournal) – The Bush Adminstration’s Department of Justice Sheltered BP Executives From Criminal Probe

EPA criminal investigator Scott West spent thousands of hours investigating alleged crimes committed by BP — that would have resulted in felony charges — but President Bush’s DoJ abruptly shut his investigation down, sheltering BP executives from prison Read More Here

(WashingtonsBlog) – The Big Picture: Why Was Deepwater Drilling Allowed in the Gulf, And Why Is It So Hard to Stop the Oil Gusher? – Read More Here

(PressTV) – Senator wants corporate welfare for BP

US Senate Energy and Natural Resources Committee member Lisa Murkowski has urged Congress not to overreact legislatively to the Gulf of Mexico oil spill.

On May 13, Murkowski and other Republicans blocked Senate Democratic attempts to pass the “Big Oil Bailout Prevention Liability Act” which would cap BP’s liability at $10 billion, even if damages from the Gulf of Mexico oil spill surpass that figure. The company already estimates that the spill will cost $450 million to clean up. Read More Here

(Heidilore) – We Are Witnessing A Marine Life Mass-Murder

80,000 barrels of oil a day?!?!
And every second this continues to go on, our President and our media are desperately scrambling to continue a full-fledged blackout on any shred of truly accurate information. Read More Here

(Discovery) – First Endangered Turtles Found Slathered In Oil

The Kemp’s ridley sea turtle has been on the the Louisiana endangered species list since 1989. “In recent years, the Kemp’s population has slowly started to recover, so we hope to mitigate any decline in this species due to the oil spill,” reported Secretary Robert Barham from the Louisiana Department of Wildlife and Fisheries (LDWF). Read More Here

(CalgaryHerald) – British Petroleum Accused Of Lies Over Oil Geyser

Mounting frustration and accusations of lying are forcing BP to begin coming clean on what it knows about the severity of the oil geyser which it created. Yesterday the company claimed it was doing everything it could to contain the month-old well leak which is spewing oil into the Gulf of Mexico.

Scientists have claimed all along that BP is trying to hide what many believe is the worst oil spill in U.S. history. The disaster is becoming what some are saying as the most severe environmental and economic catastrophe for the Gulf Coast. Read More Here

(USAToday) – Hurricane season may make spill worse

As hurricane season looms, forecasters, scientists and residents along the Gulf Coast worry that a major storm could make the oil spill worse. The National Oceanic and Atmospheric Administration says a hurricane, or a succession of them, may bring oil… Read More Here

(ABCNews) – EPA May Not Force BP to Change Dispersants

A day after the Environmental Protection Agency gave BP 72 hours to start using a “less toxic” dispersant to help control the massive oil leak in the Gulf of Mexico, the agency told ABC News today it may allow BP to keep using the same chemicals. Read More Here

Apocalypse tomorrow?

(Infowars) –  The advent of Chile’s shattering earthquake, magnitude-8.8, 3 A.M. Saturday, 2/27/10, is the worst in 50 years and comes only seven weeks after the 6.9 earthquake in Haiti. We now have a warning from National Public Radio (NPR) that seems like a sick joke, that Solar Storms Could Be Earth’s Next Katrina. Yet, too often today’s sick joke turns out to be tomorrow’s apocalypse. How come? Continue reading

Pensions: the Next Casualty of Wall Street

Nobody wants to admit it, but the next casualty of the Wall Street meltdown will probably be your golden years. For years corporations have been trying to choke the life out of traditional pensions, working hard to get out from under the risk—and the cost—of providing for their retirees. Between last year’s credit crunch and changes to federal pension laws, they may get their wish. Continue reading

‘Green Jobs Czar’ Van Jones resigns

WND’s 5-month series of exposés leads to White House’s 1st casualty Continue reading

Using New Laws for Swine Flu May Create a Perfect Storm

1. The US government is using laws designed for dealing with a very deadly pandemic or bioterrorism to bring in a mass vaccination program for swine flu, specifically the Public Readiness and Emergency Preparedness Act of 2006. Continue reading

If You Are Stressed Now, Just Wait – Policymakers Have Created A Perfect Storm

(Paul Craig Roberts) – Economic news remains focused on banks and housing, while the threat mounts to the US dollar from massive federal budget deficits in fiscal years 2009 and 2010. Continue reading

New Solar Cycle Prediction

An international panel of experts led by NOAA and sponsored by NASA has released a new prediction for the next solar cycle. Solar Cycle 24 will peak, they say, in May 2013 with a below-average number of sunspots. Continue reading

The Financial Storm – Reviewing Ellen Brown’s “Web of Debt:” Part III

This is the fourth in a series of articles on Ellen Brown’s superb 2007 book titled “Web of Debt,” now updated in a December 2008 third edition. It tells “the shocking truth about our money system, (how it) trapped us in debt, and how we can break free.” This article focuses on America’s “web of debt” entrapment. Continue reading

Snowiest Winter Ever Recorded in North Dakota

Snow, wind, and cold have assaulted North Dakota yet again in the past 24 hours. In Bismarck Friday morning the temperature was 12 below zero with a new inch or two of snow expected following Thursday’s more significant storm. Continue reading