(WashingtonPost) – All new cars would have to be equipped with “black boxes” that record performance data and federal safety regulators would be granted the authority to order immediate recalls under newly proposed auto-safety legislation being considered by Congress. Read the rest of this entry »

(WashingtonExaminer) – Three years ago, the Republican establishment piled scorn on the presidential candidacy of Ron Paul.

Today, he is in a statistical tie with President Obama in 2012 polling. His son, an ophthalmologist who has never run for elective office, is well ahead of not only the GOP’s handpicked candidate for Senate in Kentucky but also both Democratic contenders — all statewide officeholders.

What happened? Did America suddenly develop an insatiable appetite for 74-year-old, cranky congressmen from Texas? Is the gold standard catching on? Read the rest of this entry »

(EVMeme) – The buzz so far this week has been about the new EPA (Ever Pretending Aristocrats) and NHTSA (The Roadblockers) standards, which were signed into being Monday. The new rules set emissions standards for both vehicle engine emissions and for the emissions of a manufacturer’s entire fleet (called the CAFE standard). The new rules also set up a cap and trade scheme for CO2 credits within the total fleet of each manufacturer in the U.S. Read the rest of this entry »

(Fox) – Rep. Paul Ryan (R-Wis.) argues Americans are more worried about getting material support from government than their own liberties. Video Link Here

(DetroitNews) – The Obama administration will tell Congress Wednesday that it expects to lose about $30 billion of the $82 billion government bailout of the auto industry. Read the rest of this entry »

Consumer credit is falling fast. In July, consumer credit plunged by $19 billion, followed by an August drop of $12 billion, a 5.8 percent annual rate. Credit card spending decreased by nearly $10 billion in August, while non-revolving debt, including auto loans, fell by $2 billion. Credit has shrunk for 7 consecutive months, the longest period of decline since 1991. Read the rest of this entry »

(Robert Singer) – Having trouble understanding the events since the October 2008 financial crisis?
Any of this sound familiar:
* · Banks hoarding their TARP funds
* · Gas prices going up when they should be going down
* · Automobile dealerships closed without regard to profitability
* · Health Care reform: The Kevorkian is out of jail early Read the rest of this entry »

Webster describes what the meaning of Jingle Mail as the retail – commercial and real estate market is on the verge of collapse.. Read the rest of this entry »

(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. Read the rest of this entry »

(Reuters) – Long after President Barack Obama’s first term ends in 2013, millions of U.S. families will still be paying the price for the recession. Read the rest of this entry »

(RawStory) – Weeds have not had time to overtake factories shuttered in the wake of recent bankruptcies at General Motors, Chrysler and a host of suppliers, but the signs of shattered lives are spreading as the economically devastated region, dubbed “the rust belt” after its steel industry, fails to absorb the collapse of the auto industry. Read the rest of this entry »

America’s extreme left tricked American moderates into supporting their candidate last November by campaigning on post-partisan cooperation and transparency in government. Six months after the election of a freshman senator with a blank résumé, a laundry list of evil associates and a life more secret than your average CIA agent, Obama’s entire history remains a mystery and his administration is the most hardcore partisan dictatorship ever experienced in the USA. Read the rest of this entry »

The bankruptcy of General Motors, and the organization of a “new” auto company in its place, is being carried out at the expense of tens of thousands of active and retired auto workers, along with dealerships, other small businesses, and entire communities. Read the rest of this entry »

(WashTimes) – The turmoil ravaging General Motors and Chrysler generated big jumps in joblessness last month throughout the Midwest, sending Michigan’s unemployment rate above 14 percent and pushing three nearby states into double digits. Read the rest of this entry »

Last week, General Motors finally declared bankruptcy. Many in government thought $20 billion in taxpayer dollars would save the company, but as predicted, it only postponed the inevitable. Read the rest of this entry »

(Telegraph) – Britain sold arms to Sri Lanka worth over £13.6 million in the last three years of the conflict with the Tamil Tigers, according to reports. Read the rest of this entry »

They may be crying about General Motors’ bankruptcy today. But dumping 40,000 of the last 60,000 union jobs into a mass grave won’t spoil Jamie Dimon’s day. Read the rest of this entry »

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. Read the rest of this entry »

US car giant Chrysler is to file for bankruptcy after talks on its future broke down. Read the rest of this entry »

Robert Bobb, the emergency financial manager of the Detroit Public Schools, followed through on threats to carry out drastic cuts, naming 23 schools targeted for closure. In a separate announcement, the school finance chief said layoff notices are going out for 600 teachers. Read the rest of this entry »

General Motors today warned it would go bust within 30 days unless the US treasury gives it a further multi-billion dollar loan. Read the rest of this entry »

Social action begins with concerns, which may include anger or outrage at injustice. But effective strategy must also take account of the power, positions, and possibilities of the various social forces and social classes involved. A number of such factors must be considered when mobilizing around the interests of ordinary people during the emerging world economic crisis.

Read the rest of this entry »

HONG KONG — Nissan Motor joined Toyota, Mazda and Mitsubishi on Monday in forecasting a loss for the current financial year, and announced it was cutting 20,000 workers in one of the most aggressive cutbacks so far by a Japanese company since the start of the global downturn. Read the rest of this entry »