Video: We Got One That Can See: Former Obamanoid Reveals Truth on Fox News

(KurtNimmo) – It was a remarkable moment in the annals of corporate media television. During a Fox News segment on the staggering unemployment rate among the young, a former Obamanoid manages to sneak in the truth — there is no difference between Clinton, Bush and Obama, they are all puppets for elite bankers.

Economy

(Reuters) – Moody’s Cuts Greece Government Ratings to Junk

Moody’s on Monday downgraded Greece government bond ratings into junk territory, citing the risks in the euro zone/IMF rescue package for the debt-laden country. Read More Here

(InfoClearingHouse) – Bulging Inventory Signals Next Leg Down in Housing – Mike Whitney

Did the Federal Reserve collude with the big banks to hold millions of houses off the market until the Fed finished adding $1.25 trillion to the banks reserves? Did the Fed do this to make it appear that its bond purchasing plan (quantitative easing) was stabilizing prices when, in fact, it was the reduction in supply that stopped prices from plunging? It sure looks that way. This is from Bloomberg News: Read More Here

(HuffingtonPost) – “Dr. Death Says The U.S. Is Really, Really Sick.”

According to Roubini, for the US, the second half of 2010 will be worse than the first. US industrial capacity has fallen from 70 to 65%. Restocking depleted inventories is complete.

The United States, 25% of the global economy, can’t rein in its spending or cut debt. President George Bush inherited a surplus and went on to create the biggest deficit in US history (excepting WWII). Now, President Barack Obama is making matters worse by piling on more unsustainable debt. Read More Here

(DailyBell) – Doug Casey Revisits the Greater Depression and Explains the Realities of Investing in the 21st Century – Read More Here

(MoneyNews) – Volcker Warns: We Are Running Out Of Time

America is running out of time to fix its huge economic and fiscal problems, warns former Fed chair Paul Volcker, who now heads a financial advisory board to President Obama.

“Restoring our fiscal position . . . sorting out a reasonable approach toward limiting carbon omissions, and producing domestic energy without unacceptable environmental risks all take time,” Volcker writes in The New York Review of Books. Read More Here

(MarketWatch) – Bearish Schultz says hyperinflation may happen suddenly

Commentary: Crash-predicting letter says recovery might not come until 2028 Read More Here

(WPost) – Obama pleads for $50 billion in state, local aid

President Obama urged reluctant lawmakers Saturday to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid “massive layoffs of teachers, police and firefighters” and to support the still-fragile economic recovery. Read More Here

(Bloomberg) – Economy in U.S. Slows as States Lose Federal Stimulus Funds – Read More Here

(PaulWatson) – Central Bank Hid Housing Market Crash Forecast

New revelations concerning how the Irish Central Bank hid data in a 2006 report indicating that a housing market crash was imminent underscores once again how financial elites covered-up signs of the coming economic turmoil in order to exploit the crisis at the expense of the people.

Months before the Irish housing market started to crumble in early 2007, which was followed by a wider collapse in the UK property market, the Irish Central Bank buried data from a crucial report which suggested that a 15 per cent fall in house prices was around the corner.

Economy

(LewRockwell) – Beware the Recent Situation in Greece: It Will Happen Here! – Gary D. Barnett – Read More Here

(WashingtonsBlog) – Mervyn King: “World’s Worst Financial Crisis Ever”

Bank of England Governor Mervyn King says: “We are still halfway through the world’s worst financial crisis ever.” He is in good company.

The following experts have said that the economic crisis could be worse than the Great Depression: Read More Here

(CalculatedRisk) – California: “Absolutely terrible” budget cuts to be announced at 4 PM ET – Read More Here

(YahooFinance) – Video: TechTicker – Dow Tumbles as “Disintegration” Fears Haunt Europe

Hopes that a massive $1 trillion bailout for Europe would hold the financial markets together came unglued Friday. Stocks tumbled around the world and the U.S. followed suit. Heading into the close, the Dow was down more than 230 points. – Video Link Here

(GeorgeWashingtonBlog) – The Bailout of Big American Banks Has Cost Trillions More Than We’ve Been Told

Granted, the $700 billion dollar TARP bailout was a massive bait-and-switch. The government said it was doing it to soak up toxic assets, and then switched to saying it was needed to free up lending. It didn’t do that either. Indeed, the Fed doesn’t want the banks to lend.

True, as I wrote in March 2009: Read More Here

(MarketWatch) – The second debt storm

The debt mountain that brought down some of the world’s biggest banks and dragged the international financial system to the brink of disaster has simply shifted to governments. Now it’s threatening countries around the globe — and, if left unchecked, could rip the very fabric of Europe’s economic system and wreck economic recoveries in the U.S., China and Latin America. Read More Here

(USAWatchdog) – Is the Financial System Corrupt?

Recent headlines coming out of the financial world have been jaw dropping. Here are a few: Read More Here

(WSWS) – US media demands Greek-style austerity for American workers

In recent days, the US media—led by the standard bearer of American liberalism, the New York Times—has insisted that workers in the US, like their brethren in Greece, have been living the good life for far too long and must accept a drastic and permanent reduction in their living standards. Read More Here

(CNBC) – Video: The Economy & Your Portfolio with Rick Santelli ‘This European Crisis Should Be A Wake Up Call’

A look at the big issues facing the economy and how investors are playing them, with Michael Pento, of Delta Global, and Jordan Kimmel, of National Securities. Video Link Here

FLASHBACK – (WashingtonExaminer) – In 2005, U.S. intelligence warned of Euro econ crisis and EU’s demise unless welfare states downsized

In 2005, the National Intelligence Council prepared a prescient report warning that overextended welfare states could lead to economic crisis and possibly the collapse of the European Union sometime in the next 15 years: Read More Here

(FinanceMarkets) – US banks under investigation

Eight Wall Street banks are facing an investigation following allegations that they provided misleading information to several ratings agencies in order to gain a better rating for mortgage securities. Read More Here

(ChartingStocks) – Dollar Jump Resembles ‘08 Crash

On Wednesday, I wrote about the troubling signal given by the Volatility Index (VIX) as it surged in a manner which resembled the 2008 crash. Today we can add another market indicator to the “trouble” list – The US Dollar. Read More Here

(AlethoNews) – New Iran sanctions bill to kill 20,000 US jobs each year

Major US firms are warning Congress against passing legislation to impose new sanctions against Iran, saying such sanctions will further damage the US economy.

Boeing Co. and Exxon Mobil Corp. are lobbying to fend off tightened sanctions against Iran that business groups say will cut US exports. Read More Here

Video: The New World Order Currency Crisis

(Kitco) – Five Facts You Need to Know About the Financial System

Let’s connect the dots on the ENTIRE financial system right now. Read More Here

(LondonTelegraph) – US faces same problems as Greece, says Bank of England

Mervyn King, Governor of the Bank of England, fears that America shares many of the same fiscal problems currently haunting Europe. He also believes that European Union must become a federalised fiscal union (in other words with central power to tax and spend) if it is to survive. Just two of the nuggets from one of the most extraordinary press conferences I have been to at the Bank. Read More Here

(LondonGuardian) – Nicolas Sarkozy threatened to pull France out of the euro

French president Nicolas Sarkozy threatened to pull his country out of the euro if other EU countries, especially Germany, did not agree to help rescue debt-laden Greece. Read More Here

(Bloomberg) – Volcker Sees Euro ‘Disintegration’ Risk From Greece

Former Federal Reserve Chairman Paul Volcker said he’s concerned that the euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region’s members. Read More Here

(InfoClearingHouse) – Financial Chaos And The Smell Of Napalm In The Morning

What in God’s name should we make of it all? On Thursday, the New York Stock Exchange had its most severe plunge in history – nearly 1000 points, before it recovered minutes later. On Monday, it shot up 400 points, one of the biggest spikes in memory. All told, the variance was around 1400 points over the period of a couple of days.

The context for this, of course, is the financial turmoil that has spread from Greece and is sweeping across Europe, threatening the very existence of the European Union and the Euro as a common currency. Last week alone, it is estimated that global stock markets lost $3.7 trillion of their value as a result of this crisis (1). According to the Canadian finance minister Jim Flaherty, not even the Canadian economy is immune from the financial contagion. Read More Here

(EconomicPolicyJournal) – Geithner Briefs Super Power Elite, Friday Afternoon

In addition to Rockefeller and Lady de Rothschild, on Friday afternoon, Treasury Secretary Geithner will also meet with the other members of the Board of Directors of the Peter G. Peterson Institute for International Economics to discuss the Administration’s agenda for economic growth and strengthening the global financial system.

Here’s the hefty list of the Institute’s Board of Directors: Read More Here

(HomeSolutionCounselors) – You are not in default. Freddie Mac is making your payments!

Yes it is true. I have seen it with my own eyes and IN WRITING. In our office we have on record a statement from Freddie Mac, which they submitted to the courts, that “Freddie Mac has made all relevant and required payments to the investors on behalf of the borrowers.” Did you catch that?!?!

Yes, Freddie Mac acting as the Master Servicer, has been making payments to the debt owners of a mortgage. How can the borrower be in default? Read More Here

(Bloomberg) – Euro Breakup Talk Increases as Germany Loses Its Currency Proxy

What was conceived as a club for Europe’s strongest economies was expanded for political reasons, leaving the currency union with minimal powers to police deficit spending and no safety net for dealing with countries, like Greece, that veer toward default.

German officials are already debating what was unthinkable to the euro’s architects: that a currency union designed in its founding treaty to be “irrevocable” might not be. Finance Minister Wolfgang Schaeuble said March 12 that expulsion from the euro may be the ultimate penalty for serial violators of debt rules. Read More Here

Bernanke: We Must Raise Taxes and Cut Services • Sane People: No, We Need to Stop Endless Bail Outs, Imperial Adventures and Fraudulent Schemes

(WashingtonsBlog) – This week, both Bernanke and Volcker called for tax increases. Bernanke has also raised the possibility of reductions in entitlements such as Medicare and Social Security.

Economy

(EconomicPolicyJournal) – Goldman Sachs Continues to Receive Enormous Assistance from Taxpayers Read More Here

(Examiner) – Schwarzenegger axes low-cost auto insurance program as state & feds fleece impoverished public Read More Here

(BusinessInsider) – Goldman Again Tries To Dispel Notion That It Bets Against Its Clients Read More Here

(BobChapman) – The US dollar is vulnerable because of a staggering public debt

Almost every day in almost any currency your purchasing power in terms of gold is less and less. Thus, these currencies in which you save the fruits of your labor are cheating you out of your savings. Read More Here

(GlobalResearch) – Shadow Banking: Going After the Banksters. Then and Now Read More Here

(GlobalResearch) – Billions of Dollars of Stolen Money; Key Findings on the Wall Street Bank Bailout Tally Read More Here

(KurtNimmo) – Former Fed Mob Boss Calls for VAT and Carbon Taxes

One thing is certain. If Obama and his “economic advisers” have their way, you will be paying significantly higher taxes directly to the banksters. Since payroll taxes are already egregiously high, the preferred method is either a sales tax or a so-called value added tax, also known as VAT. Glenn Beck is a fan of this form of government fleecing while his “conservative” counterpart Bill O’Reilly prefers a straight sales tax to pay down the national debt. Read More Here

(CNNMoney) – Fed Says “Recovery” May Lose Steam

Federal Reserve policymakers are worried that the economic recovery may lose steam going forward, despite recent moderate improvements, according to minutes from their recent policy meeting released Tuesday. Read More Here

(AFP) – Murdoch Says “People Will Start Paying” for His Newsites “When They Have Nowhere Else to Go”

Mr Murdoch, in an interview with journalist Marvin Kalb for The Kalb Report on Tuesday, also said he believed most US newspapers would eventually end up charging readers online, like he does with The Wall Street Journal and plans to do with his other properties beginning with The Times of London. Read More Here

(WSJ) – Bernanke Says Americans Must Pay Off “Public” Debt

The U.S. must start to prepare for challenges posed by an aging population with a credible plan to gradually reduce a soaring public debt, Federal Reserve Chairman Ben Bernanke said Wednesday. Read More Here

(ZeroHedge) – The Latest Gold Fraud Bombshell: Canada’s Only Bullion Bank Gold Vault Is Practically Empty Read More Here

(DailyCaller) – IRS chief: Buy health insurance or lose your tax refund

Individuals who don’t purchase health insurance may lose their tax refunds according to IRS Commissioner Doug Shulman. After acknowledging the recently passed health-care bill limits the agency’s options for enforcing the individual mandate, Shulman told reporters that the most likely way to penalize individuals that don’t comply is by reducing or confiscating their tax refunds. Read More Here

(MailOnline) – How £300 million was squandered on swine flu jabs that we didn’t need Read More Here

(Reuters) – Volcker: Taxes likely to rise eventually to tame deficit

The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday. Read More Here

(NYTimes) – Automaker Pensions Underfunded by $17 Billion

The pension plans at General Motors and Chrysler are underfunded by a total of $17 billion and could fail if the automakers do not return to profitability, according to a government report released Tuesday. Read More Here

(AP) – Atlantic City casinos struggling with economy Read More Here

(Globe&Mail) – GM posts $4.3-billion loss Read More Here

(MarketOracle) – Protect Your Wealth From Exploding Debt as States Implode

The world is breathing a sigh of relief now that the financial crisis in Greece is “over.” Yeah, right. Greece’s financial misdeeds — the country has racked up a lot of debts it can’t pay — will probably come back to haunt Europe, and soon. Read More Here

(MarketWatch) – ‘Wall Street’ sequel is an omen of U.S. collapse

Yes, Oliver Stone is suddenly America’s hottest market timer, as well as the voice of the inner “American Soul,” warning investors of a collapse. Remember the Crash of 1987? One-day 23% drop. Happened just before his 1987 “Wall Street” film hit the theaters. 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

(Telegraph) – Fed boss Greenspan says no one saw the crisis coming. Really?

Only in America. Only in America would it be possible to spawn a financial crisis so devastating that it would collapse the entire world economy. Read More Here

MSM: Volcker Says New Taxes Not an “Unreasonable Response” to Federal Banker Bailout

(CNN) – Former Federal Reserve Chairman Paul Volcker said Thursday that more needs to be done to regulate the financial system before the lessons of the recent crisis are forgotten.

Government Is Trying to Make Bailouts for the Giant Banks PERMANENT

(WashingtonsBlog) – On September 25th, I wrote:

Paul Volcker and senior Harvard economist Jeffrey Miron both testified to Congress this week that the government is trying to make bailouts for the giant banks permanent.

Greenback Gases, Gold & the Coming Shift

Bankers in charge of our economies makes as much sense as candy makers being in charge of our diets

Video: Obama Pushes Banker Takeover Plan at Federal Hall

Obama delivered one of his famous teleprompter speeches today at Federal Hall in New York on the one-year anniversary of the Lehman Brothers scam. It was a cynical move, considering Obama spoke from the building where the country’s founders once argued over how much the government should control the national economy.

Stiglitz Says MSM: Banking Problems Are Now Bigger Than Pre-Lehman

(Bloomberg) — Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.

The Federal Reserve Must Die

“Paper money eventually returns to its intrinsic value —- zero.” – Voltaire
I’ve read and witnessed various pundits during the Presidential campaign describe Ron Paul as crazy. The corrupt tax and spenders in Congress know their days would be numbered if they followed his vision of government. After reading his tremendously sane rebuke of Ben Bernanke and the policies of his Federal Reserve, I’m reminded of a classic scene from Seinfeld.

As jobless claims rise, Wall Street celebrates corporate profit reports

The number of Americans filing new claims for jobless benefits rose by 30,000 in the week ended July 18, the Labor Department reported Thursday. The total for the week was 554,000.

Obama’s Czars “R” US!

The definition of a Czar in Merriam Webster’s dictionary is the following: “One having great power and authority.” [18].  According to Wikipedia,  the title Czar (derived from Caesar) meant Emperor in the European medieval sense of the term, that is, a ruler who claims the same rank as a Roman emperor, with the approval of another emperor or a supreme ecclesiastical official (the Pope or the Ecumenical Patriarch). [13].

An Economy in free fall, Why is the ANWR in this picture?

Skyrocketing gas prices and $142 for a barrel of oil was the price it took for Americans to cry “uncle” and give up their last Arctic Wilderness. It was long gas lines in 1973 (the Oil Embargo) when Americans authorized the 800 miles of Trans-Alaska Pipeline through some of the most pristine country in Alaska.

Putting aside common sense and the environmental alternatives, drilling to reduce the price and our dependence on foreign oil ignored the published estimates of the impacts of new oil from the ANWR.

“I had a dream.” It was 2008 and Barack Obama was elected the 44th President of the United States – Robert Singer

The world is engulfed in a global economic crisis of staggering ferocity rivaling four other financial meltdowns—which all began in the month of October. [1]

VP Biden and former Fed Chairman Paul Volcker don’t remember any time when things went down quite so fast, quite so uniformly around the world. The current crisis looks more like the collapse of the Soviet Union, on October 18, 1991, when Gorbachev signed an agreement forming a new economic community.

America is Being Looted

I have long been a cynic of the bailouts, and, unfortunately, I cannot detect even the slightest sliver of daylight between the prior and current administrations. The reason, I fear, is captured by this quote from Simon Johnson, the former Chief Economist at the IMF and current professor at MIT’s Sloan School of Management:

The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government

The Smooth Criminal Transition from Bush/Cheney to Obama

Corrupt new administration deepens and expands systemic criminalization and war agenda

MSM: Soros sees no bottom for world financial “collapse”

(Reuters) – Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.