MSM: Circulation drops at U.S. newspapers as readers turn to online news sources

(LATimes) – The average circulation at about 400 daily newspapers falls more than 10% in the last six months as compared to a year ago. Smaller newspapers fare better. Continue reading

Bailed out insurance giant AIG plans $198 million in new bonuses

American International Group, which has received nearly $200 billion in bailout funds from the federal government, is slated to pay 400 employees in its financial products division another $198 million, according to a report published Wednesday by the Neil Barofsky, the special inspector general for the Troubled Asset Relief Program (TARP). Continue reading

MSM: Goldman Sachs’ Black Magic, Here’s How They Did It

(HuffingtonPost) – How did Goldman, Sachs & Co. — saved a year ago by the US taxpayer — magically make $3 billion in 3 months a year later?
This as the US dollar collapses, unemployment soars and foreclosures hit a record? Continue reading

Video: Elizabeth Warren On Too Big To Fail, Paulson’s Generous Taxpayer Gift, And The Death Of The Middle Class

Harvard professor Elizabeth Warren provides a much needed sober perspective of Bernanke’s Doctrine of Mandatory Global Moral Hazard, by discussing just how broken the banking system continues to be. Continue reading

Celente – People Should Brace For ‘Greatest Depression’ 2012 Forecast – Food Riots, Ghost Malls, Mob Rule, Terror

A trends forecaster says the current economic “rebound” from last winter’s Wall Street collapse of banks, insurance companies and automobile manufacturers is an artificial blip created by ‘phantom money printed out of thin air backed by nothing.” Continue reading

“Death Bonds”: Wall Street’s Shocking New Plan to Reap Billions Off Dying Americans

Now we know why America’s oligarchs are fighting to keep the rest of us stuck in the world’s worst health care system: the more we die, the more billions Wall Street will earn. Continue reading

This Depression is just beginning

Too bad Pulitzers aren’t handed out for blog-entries. This year’s award would go to Zero Hedge for its “The ‘Money on the Sidelines’ Fallacy” post. This short entry shows why the economy will continue its downward slide and why the US consumer will not get off the mat and resume spending as he has in the past. The fact is the Net Wealth of US Households has “declined from a peak of $22 trillion to just under $12 trillion in early March.” Continue reading

The Coming Economic Collapse

Today’s essay details the ongoing collapse of the US economy with a focus on why this coming fall will prove the “worst is over” crowd wrong yet again. Earlier this week, I detailed three major developments. Continue reading

What’s Good For General Motors – Is Now Good for China

I remember the hullaballoo in January 1953 when GM CEO Charles Wilson, President Eisenhower’s nominee for Secretary of Defense, was popularly quoted as saying that “What’s good for General Motors is good for the country.” Continue reading

Ten Questions For Everyone Who Supported Obama

1. How much change has Obama brought to America? Continue reading

Our Economy Is Going to Keep Tanking Until We Stop Shoveling Billions to Rich People

For the past eight months, we have been a nation focused on bailouts and bankruptcies. For the past ten years, we have been a nation ignoring massive wealth transfer and wealth concentration through a rigged Wall Street. Continue reading

Is California The Next GM?

With GM’s bankruptcy no longer hanging over Wall Street, perhaps now investors can get their minds right for some really bad news. We’re talking about the looming bankruptcy of California, of course, and of at least a few more big-budget states whose books are in equally disastrous shape, including New York, Arizona, New Jersey, Nevada, Rhode Island and Florida. Continue reading

Manipulation: How Financial Markets Really Work

Wall Street’s mantra is that markets move randomly and reflect the collective wisdom of investors. The truth is quite opposite. The government’s visible hand and insiders control markets and manipulate them up or down for profit – all of them, including stocks, bonds, commodities and currencies. Continue reading

Is This an Age of Financial Reform or Plunder without End?

Will the Financial Reforms lead to Change or just Prop up the Status Quo?
It is almost axiomatic to argue that renewal comes out of chaos. And reform and change are born in crisis. Continue reading

MSM: China warns Federal Reserve over ‘printing money’

China has warned a top member of the US Federal Reserve that it is increasingly disturbed by the Fed’s direct purchase of US Treasury bonds. Continue reading

Credit Default Swaps; The Poison in the Financial System

In a little more than a decade, Credit Default Swaps (CDS) have ballooned into a multi-billion dollar industry which has changed the fundamental character of the financial system and increased systemic risk by many orders of magnitude. Continue reading

America’s Nightmare: The Obama Dystopia – Manipulation, propaganda, imagery & PR wizardry

After 8 years of the Bush-Cheney nightmare during which we saw the wanton destruction of Afghanistan and Iraq, the cynical negation of centuries of Law designed to protect the most basic human rights and a foreign policy worthy of Genghis Khan, there came along the “Great Black Hope” in the persona of Barack Obama. The collective world consciousness turned uncritically to what was presented as a new era for peace, change and trust in Government. Continue reading

On Obama’s Chopping Block: It’s The Turn of General Motors

The greatest single attack on American workers since the Great Depression

The alarm bells should be ringing day and night about what’s being prepared at General Motors — the ripple effects could produce tidal waves. Continue reading

Diplomacy, Militarism and Imagery

President Obama’s greatest foreign policy successes are found in the reports of the mass media. His greatest failures go unreported, but are of great consequence. A survey of the major foreign policy priorities of the White House reveals a continuous series of major setbacks, which call into question the principal objectives and methods pursued by the Obama regime. Continue reading

The Crimes of Wall Street: The Scam and Sleaze at the Top

So many of us know in detail about all the false warnings and exaggerated claims that were used to justify the war in Iraq. By now, six years later, and after many books, reports, news stories and films, we see the pattern of lies and deception. We realize what a fraud was committed against the American people and what its consequences have been for the people of this country, Iraq and Afghanistan. Continue reading

Obama’s Health Care Fascism

In October 1939, Nazi Leader Adolf Hitler issued an order, written in his own hand, ordering the extermination of those who were considered “unworthy of life.” The order, entitled “The Destruction of Lives Unworthy of Life,” stated that patients “considered incurable according to the best available human judgment of their state of health, be accorded a mercy death.” Continue reading

Democrats Are Fast-Tracking Nearly 1,000-Page ‘Cap-and-Trade’ Bill That Would Increase Electricity Bills

Democrats on the House Energy and Commerce Committee put their cap and trade global warming bill–that would increase U.S. energy prices, including electricity bills–on the fast track Monday. Continue reading

Who, Me? Yes You! – Peter Schiff

When, during the invasion of Iraq, the United States Government issued its famous deck of playing cards with the 52 arch villains of the Iraqi police state, Saddam Hussein’s face adorned the Ace of Spades. If the Obama Administration wanted to engage in a similar public relations campaign for the real estate crisis, the top card should be reserved for Alan Greenspan. Continue reading

Closures of US auto dealerships will cost tens of thousands of jobs

US auto manufacturers Chrysler and General Motors, encouraged by the Obama administration and top Wall Street circles, announced plans Thursday and Friday to close a combined 1,900 dealerships. These closures will result in the loss of some 100,000 jobs and produce economic devastation in many communities across the country. Continue reading

Video: Ron Paul On Morning Joe – 5/15/09

On Friday, Dr. Paul was interviewed on MSNBC’s “Morning Joe,” where host Joe Scarborough praised Dr. Paul for his 2003 warning about the current economic crisis. Continue reading

US ’sham’ bank bail-outs enrich speculators

The US Treasury’s effort to stabilise the banking system through the TARP programme is a hopelessly ill-conceived policy that enriches speculators at public expense, according to the buy-out firm supposed to be pioneering the joint public-private bank rescues. Continue reading

The Secrets of the Federal Reserve

The Federal Reserve Act was legislated in 1913 to end recessions, panics and depression. Over that almost 100-year period they have been eminently no more successful then their predecessors. Continue reading

New York Fed: Most Powerful Financial Institution You’ve Never Heard Of

The kerfuffle about current New York Federal Reserve Bank Chairman Stephen Friedman’s purchase of some Goldman stock while the Fed was involved in reviewing major decisions about Goldman’s future—well-covered by the Wall Street Journal here and here—raises a fundamental question about Wall Street’s corruption. Continue reading

MSM: Mystery group in the driving seat

If the Finance Minister really wants to know the depth of this “global economic firestorm”, all he has to do is to ask the people who created it. Continue reading

Wall Street rallies as unemployment rate soars – US shed another half-million jobs in April

The official US unemployment rate jumped by 0.4 percentage points to reach 8.9 percent last month, according to figures released Friday by the Labor Department. The economy lost another 539,000 jobs in April, as total job losses reached 5.7 million since the start of the recession in December 2007. Continue reading

MSM: Global Crisis ‘Vastly Worse’ Than 1930s, Taleb Says

(Bloomberg) – The current global crisis is “vastly worse” than the 1930s because financial systems and economies worldwide have become more interdependent, “Black Swan” author Nassim Nicholas Taleb said. Continue reading

“They Frankly Own the Place”

“And the banks – hard to believe in a time when we’re facing a banking crisis that many of the banks created – are still the most powerful lobby on Capitol Hill. And they frankly own the place.” – Illinois Sen. Richard Durbin Continue reading

Green Shoots Or Greatest Depression? – Gerald Celente

“Benito Mussolini described Fascism as ‘The merger of state and corporate power.’ He suggested that, more appropriately, it should be called ‘Corporatism.’ By whatever name, Corporatism or Fascism, what it’s not is Free Market Capitalism, much less Democracy,” Celente said. Continue reading

“Web of Debt”: The Inner Workings of the Monetary System

This is the first of several 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.” Given today’s global economic crisis, it’s an appropriate time to review it and urge readers to digest the entire work, easily gotten through Amazon or Brown’s webofdebt.com site. Her book is a remarkable achievement – in its scope, depth, and importance. Continue reading

Nobel prize-winning economist described the root of the financial crisis in 1993

Nobel prize-winning economist George Akerlof co-wrote a paper in 1993 describing the causes of the S&L crisis and other financial meltdowns. As summarized by the New York Times: Continue reading

Federal Troops Deployed Against Influenza Protesters in Mexico City

D. H. Williams of the Daily Newscaster links to a YouTube video showing large numbers of federal troops in Mexico City deployed to stop protests against the government in Mexico City. Continue reading

The Clock Ticks Towards Financial Judgement Day

America is no longer a republic. It has degenerated into a system where the rich run the country by having purchased all of our political institutions. As a result Americans have become sheeple who are being terrorized by the ruling illuminist class. Continue reading