(AdanSalazar) – ANZ, Australia’s fourth largest bank and the largest bank in New Zealand, has hinted at plans to incorporate retinal scanning technology in the near future for customer access and banking transactions. Read the rest of this entry »
(ZeroHedge) – Today’s move can be summarized in one word: euphoria. The same euphoria every previous instance of central planning intervention has engendered, only to fade days, weeks or months later. But for the time being it will suffice, and send the S&P to fresh post 2008 highs. In the meantime, below is the definitive note summarizing what has just happened, courtesy of Pierpont Securities via Bloomberg. Read the rest of this entry »
(ComedyCentral) – John Stewart takes a look at how the banks make money off bailouts, a Florida couple forecloses, and Bethany McLean and Joe Nocera talk finance. Read the rest of this entry »
(InternationalForecaster) – As quantitative easing again gets underway the failure of QE1 becomes more obvious. The crisis worsens and the illusion of any recovery is light years away. Over the past three years almost $13 trillion that we know about has been thrown down a rat hole to bail out banking, Wall Street, insurance and selected elitist entities. The dollar figure is probably much higher. We will never know, because the privately owned Federal Reserve makes its own rules. Everything they do is a state secret. Read the rest of this entry »
(Rense) – Czars were Russian tyrants. Gulags were Russian slave labor camps. Are gulags coming to America? We already have a growing corps of Czars.
The oligarchs of the International Monetary/Banking Cartel took a huge step towards the tyranny of their New World Order when they put their man Barack Obama into the White House.
Obama, who many Americans still consider to be their friend, has had the audacity the cheek, the arrogant insolence to have appointed a growing cadre of Czars, on top of a bloated bureaucracy that is already at least a thousand times too large and too intrusive.
This is “in your face” tyranny. The very word Czar is repugnant to any democracy. The very definition of the word Czar means, “king” or “emperor” or “autocrat” or “tyrant.” Read the rest of this entry »
On June 5th, 1933, Franklin Delano Roosevelt signed into law the Emergency Banking Act which declared America bankrupt and insolvent. Twenty years after the 1913 Federal Reserve Act authorized a private central bank to loan money to the government at interest, the country declared its bankruptcy. Twenty years after the Federal Reserve Act was passed, Congress enacted House Joint Resolution 192, to “Suspend the Gold Standard and Abrogate the Gold Clause” and the nation became insolvent. Just twenty years after the Federal Reserve Act became law, gold at twenty dollars an ounce was inflated by FDR to twenty-nine dollars an ounce, confiscated with the passing of the Gold Reserve Act in 1934, and then inflated again to thirty-five dollars an ounce. Read the rest of this entry »
(LATimes) – U.S. home foreclosures reach record high in second quarter
Bank repossessions increased 38% in the second quarter from the same period a year earlier for a record total of 269,952, according to data to be released Thursday by RealtyTrac. Read More Here
(CounterPunch) – How Bank of America Got Away With a Huge Swindle – Read More Here
(TechTicker) – The U.S. Middle Class Is Being Wiped Out: Here’s the Stats to Prove It
The 22 statistics detailed here prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America. Read More Here
(TheComingDepression) – World At Risk Of Folding In On Itself
The global economy is at risk of folding in on itself unless policy makers face up to the threat of inflation and exchange rate inflexibility, according to Arun Motianey, director of fixed income strategy at Roubini Global Economics. Read More Here
(TheComingDepression) – The Housing Depression – Read More Here
(EconomicCollapse) – The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Pissed Off And Frustrated – Read More Here
(AP) – Dollar slides after Greek debt auction bolsters confidence in Europe, while US data weak
The dollar has drifted lower after Greece successfully sold debt to investors while U.S. economic data remained weak. Read More Here
(MoneyNews) – Obama Panel Warns Governors: Debt Will Destroy US Like a Cancer – Read More Here
(InfoClearingHouse) – The Fed is Steering the Economy into Deflation – Mike Whitney – Read More Here
(12160Org) – Fear Index rises to 16-year high
The Fear Index has risen to a 16-year high. As of June 30th, the Fear Index is 2.35%, based on M3 data made available by shadowstats.com. Here is the formula and calculation for June 30th: Read More Here
Video: Alex Jones Tv: The Private Planetary Banking Cartel Designed This Depression!
Alex starts off the show with a strong message and a reminder of who is causing all of these global depressions and what they stand to gain if they succeed. Read the rest of this entry »
Federal Reserve officials, who are likely to reveal Wednesday a cut in their assessment of the growth outlook, are divided on how aggressively the central bank should act if the economy slows further. Read More Here
(ZeroHedge) – Why Watching CNBC Can Be Hazardous To Your Wealth – Read More Here
(ZeroHedge) – Bloomberg Poll Finds Americans No Longer Drinking Kool Aid, 71% See Economy “Mired In Recession” – Tyler Durden – Read More Here
(NYDaily) – Are the jobs gone for good? The facts about this downturn are very grim – Read More Here
(BuffaloNews) – Feeling crunch of a high jobless rate – Read More Here
(WashTime) – Both parties mull raising retirement age – Read More Here
(PoliticsDaily) – Cap-and-Trade Will Be Part of Senate Climate Change Bill
Senate Majority Leader Harry Reid confirmed Tuesday that the Senate will soon debate a bill to reduce pollution and that the legislation will include a scaled back version House-passed language to reduce carbon output by charging some polluters for emissions above a certain threshold. Read More Here
(Stateline) – Collapse in Living Standards in America: More Poverty By Any Measure
15 million unemployed, homelessness has increased by 50 percent in some cities Read More Here
(ABCNews) – Autos and Gasoline Drag Retail Sales Lower in June – Read More Here
(Examiner) – U.S. banks laundering Mexican cartels’ drug money – Read More Here
(Independent) – Britain’s debt: The untold story
The true scale of Britain’s national indebtedness was laid bare by the Office for National Statistics yesterday: almost £4 trillion, or £4,000bn, about four times higher than previously acknowledged. Read More Here
(RestoreTheRepublic) – Video: The Reality Report – Tom Woods on the Economic Meltdown!!! – Gary Franchi – Video Link Here
(InflationUS) – Video: Empty Store Shelves Coming to America
(RussiaToday) – Video: Webster Tarpley – ‘Obama, the Wall St. puppet’
The Obama administration could be nearing the finish line for financial reform legislation that has been a political football tossed back and forth between both parties. Will this bill change the way Washington and Wall Street work? Can it turn around the economic downturn?
(NewAmericanRepublic) – Chinese rating agency strips Western nations of AAA status
China’s leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings, accusing Anglo-Saxon competitors of ideological bias in favour of the West. Read More Here
(Truthout) – How Brokers Became Bookies: The Insidious Transformation of Markets Into Casinos
“You all are the house, you’re the bookie. [Your clients] are booking their bets with you. I don’t know why we need to dress it up. It’s a bet.” – Sen. Claire McCaskill, Senate Subcommittee investigating Goldman Sachs (Washington Post, April 27, 2010) Read More Here
REPOST - (AspenDaily) – Historian warns of sudden collapse of American ‘empire’
Harvard professor and prolific author Niall Ferguson opened the 2010 Aspen Ideas Festival Monday with a stark warning about the increasing prospect of the American “empire” suddenly collapsing due to the country’s rising debt level. Read More Here
The Glass Steagall Act President Roosevelt signed into law was repealed. See who swept aside the banking firewall protections on the 12th of November 1999. Read the rest of this entry »
(July 5) – Alex covers the biggest scam to hit the financial market in years, and exposes how the fall of america is all by design to put america under control of the international mafia banking cartel of the Nwo. Alex also takes your calls for your solutions of how to get us out of this mess and any new intel people on the gulf coast have about a possible evac from those hard hit area’s. Read the rest of this entry »
(July 5) – Alex covers the biggest scam to hit the financial market in years, and exposes how the fall of america is all by design to put america under control of the international mafia banking cartel of the Nwo. Alex also takes your calls for your solutions of how to get us out of this mess and any new intel people on the gulf coast have about a possible evac from those hard hit area’s. Read the rest of this entry »
(InternationalForecaster) – Central Banking in Crisis: Some Twenty Countries on the Verge of Insolvency – Bob Chapman
Market Volatility as the Debt Implosion Continues Read More Here
(GlobalResearch) – Financial Crisis Conducive to Instability of Asia’s Currency Markets: South Korea Imposes Currency Controls – Read More Here
(GlobalResearch) – “Dying Detroit”:: The Impacts of Globalization. Social Decay and Destruction of an Entire Urban Area – Read More Here
(GlobalResearch) – The Gold Market: When Will the SEC Prosecute for Market Rigging? – Read More Here
(Telegraph) – Lord Rothschild fund joins World Gold Council to put £12.5m into BullionVault
Tim Levene of Augmentum Capital, a fund backed by Lord Rothschild’s RIT Capital Partners, said the investment was not a bet on the gold price but on “the future growth of the BullionVault platform”, which stores physical gold for private clients in London, New York and Zurich. RIT currently has 9pc of its assets in physical gold. Read More Here
(FoxBusiness) – New Home Sales Fall 33% in May to Record Low
The U.S. housing market is in crisis.
A day after a disappointing read on the market for existing homes, the government said Wednesday that sales of new homes fell to their lowest level on record last month, a potentially crushing blow for an economy that is still looking for its footing. Read More Here
(PragCap) – Russell: This is One of the Largest Tops in Stock Market History
Mr. Russell thinks we might be on the verge of a terrible collapse:
“We’re now in the process of building one of the largest tops in stock market history. The result, I think, will be the most disastrous bear market since the ‘30s, and maybe worse. Read More Here
(VoiceInTheWilderness) – Is America Destined to Starve?
Americans are no longer prepared to take care of their basic needs without the involvement of the federal government. The majority of Americans have relinquished the responsibility of their future survival to bureaucrats. How and when did we, as an intelligent and formerly self-reliant populace, decide to become wards of the state? Read More Here
REPOST – (LATimes) – Video: California city to lay off all city employees, dismantle Police Department – Video Link Here
A stock market rebound helped the world’s ranks of millionaires climb 17 percent to 10 million, while their collective wealth surged 19 percent to $39 trillion, nearly recouping losses from the financial crisis, according to the latest Merrill Lynch-Capgemini world wealth report. Read More Here
(DealBook) – Despite U.S. Plea, European Bank Pushes Austerity – Read More Here
Climategate
(RoySpencer) – The Global Warming Inquisition Has Begun – Read More Here
(FinancialTimes) – Obama to push climate change on back of BP spill
Barack Obama will on Wednesday make a renewed push to spur the US Senate into action on climate change, saying the BP oil spill underlines the urgency for the country to lessen its dependence on fossil fuels. Read More Here
(WeAreChangeUtah) – After the Senatorial Discussions event, members of We Are Change Utah decided to talk to Merrill Cook about 9/11 banking, and Bilderberg. Surprisingly he was very candid and forthcoming with us. Merill recognized a number of unanswered questions into 9/11, including WTC Building 7 and the FAA irregularities. Merill later compared the lack of truly thorough investigation with the JFK Assassination. Read the rest of this entry »
REPOST – (Examiner) – CAFR: US agencies have billions, trillions in investments while crying budget deficits
Gerald Klatt and Walter Burien are unrecognized heroes. These individuals are national leaders who have communicated how government agencies conceal American taxpayers’ money in surplus accounts that collectively total trillions of our dollars. The data is found in government agencies’ Comprehensive Annual Financial Reports (CAFRs).
What CAFRs reveal is a communist-style policy whereby the US taxpayers surrender enormous assets to the state, who then “invest” these collective trillions that swell in these accounts. Concurrently, taxpayers are informed of budget deficits to either squeeze more taxes from them and/or cut public services. To add insult to injury, the state lies in omission by never reminding Americans of their hard-earned and withheld trillions as they eliminate jobs, reduce education, and attack the quality of our lives. Read More Here
(BusinessInsider) – Hugh Hendry’s Slams Economist Jeffrey Sachs: I Would Recommend You Stop Going Skiing And Panic
The European banking system is in crisis, says Hendry. “I would recommend you panic.”
The hedge fund manager of Eclectica Management went on BBC Newsnight last night to play pessimist against Jeffrey Sachs, an economist from Columbia University. Read More Here
(Consumerist) – Your Household’s Share Of The September 2008 Economic Collapse: $104,350
A recent report from the Pew Charitable Trusts tallies up each US household’s share in the economic collapse. Your household’s share? $104,350. That includes lost income, government bailouts, and both reduced home values and reduced stock values. Read More Here
(MyBudget360) – Most over valued region in San Francisco gets a taste of the commercial real estate bust. $3 trillion in loans starting to implode at a faster rate. Why commercial real estate will plunge FDIC insured banks into closure. Bought for $415,000 per apartment unit – Read More Here
(RollCall) – House Democrats Lack Votes for Extender Package
The tax and unemployment benefits extension bill appeared on the brink of collapse Thursday afternoon, with House Democratic leaders short of the votes they need to pass it and fiscally conservative Blue Dog Democrats defecting. Read More Here
(CNBC) – Video: Gold at $36,000 Not as Ridiculous as It Sounds?
Gold has reached record highs in recent weeks, but it will continue to rise, Ben Davies, CEO of Hinde Capital told CNBC Wednesday. View More Here
(OpenCongress) – Stimulus II — Big Vote Today, Here’s What’s in It
The Democrats have prepared a second, smaller stimulus bill of about $127 billion in new short-term spending called the American Jobs and Closing Tax Loopholes Act of 2010, and they are planning to hold a vote on it in the House on today. Late on Wednesday night, the bill was revised. Here’s what’s in the final bill. Read More Here
(InterForecaster) – Bob Chapman: They Want A Collapse, Its Deliberate
Europe is rescuing its economy in the same way that the Federal Reserve has attempted to same America’s financial system and economy. They have used an unprecedented aid and stimulus package to offset massive fiscal deficits. In the US a deflationary depression was avoided at least temporarily and that is what is now being attempted in Europe with the guidance of the Federal Reserve. Read More Here
(QBit) – Toll privatization scheme in Michigan HB 4961 amounts to a tax paid directly to private corporations, without representation
Michigan House Bill 4961 [pdf] boils down to Taxation without Representation – turning the State’s right to levy taxes over to private international corporations, essentially ceding sovereignty over critial infrastructure. The corporations will be able to levy highway tolls without oversight or regulation on US citizens, should this bill pass. Read More Here
(LondonTelegraph) – Paper: Financial Crisis Worse Than 2008
This financial crisis is worse than the sub-prime crash of 2008 because the sums are so much bigger and it is governments that are in dire straits. Edmund Conway explains the dangers. Read More Here
(PaulWatson) – Ron Paul: Inside Sources Told Me Fed Is Panicking At Mass Awakening
Appearing on The Alex Jones Show yesterday, Congressman Ron Paul revealed that through his inside sources he had learned that the people who control the Federal Reserve are panicking about the fact that Americans are waking up to the fact that the U.S. is controlled by the central bank. Read More Here
(KurtNimmo) – Fiat Money Supply Contracting at Great Depression Level
The bankster operative who helped destroy Glass-Steagall is back.
Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph. “We are nearly 8m jobs short of normal employment. For millions of Americans the economic emergency grinds on,” he said. Read More Here
(EconomicPolicyJournal) – The Hire, Fire, Hire Census Game, Or Why the Unemployment Numbers Are Improving
You know the old saying: “Everyone loves a charade.” Well, it seems that the Census Bureau may be playing games.
Last week, one of the millions of workers hired by Census 2010 to parade around the country counting Americans blew the whistle on some statistical tricks. Read More Here
(EconomicCollapseBlog) – Are We About To Witness The Greatest Banking Consolidation In U.S. History?
As the number of bank failures in the United States continues to accelerate, many analysts are warning that we could soon see unprecedented changes in the U.S. banking industry. In fact, there are some economists that are warning that we could be about to witness the greatest banking consolidation in U.S. history. Read More Here
(WashingtonsBlog) – Top Bond Vigilante: Fiscal Austerity May Not Work
Gross says in his latest investment outlook that austerity may not work to lower sovereign debt: Read More Here
(TheMessThatGreenspanMade) – In a Word, the Problem is “Debt”
Recent developments in the euro zone that increasingly look like they will lead to the restructuring (if not the collapse) of one of the world’s major currencies and the potential for this “contagion” to move first north to the U.K. and then west to the U.S. have many people wondering what’s gone wrong with the global monetary system.
How could advanced Western economies have run into such trouble? Read More Here
(RussiaToday) – Video: Max Keiser – Big Banks Allocate Losing Trades to Clients, Keep Winning Trades for Themselves
Max Keiser – journalist, former Wall Street broker and options trader, and inventor of the software which is now being used for high frequency trading – claims that the big banks retroactively allocate losing trades to their clients, and keep the winning trades for their own proprietary trading desks: Read the rest of this entry »
(WSWS) – The US Senate’s passage of the Obama administration’s financial reform bill Thursday was hailed in the media and by official Washington as a landmark effort to curb the power of the big banks. But on Wall Street itself, the news was greeted with a mixture of dismissal and applause. Read the rest of this entry »
(C4L) – The spotlight remains on the Greek sovereign debt crisis as the riots continue. The terms of the Greek bailout from the IMF and Eurozone countries remain contentious with citizens on all sides. Europeans hate having their governments throw public money away as much as Americans do. The Greeks are not happy about having their taxes raised while their pensions and salaries are cut. Meanwhile, it is rumored by the Financial Times, AFP and others that Greece may spend more than it saves from austerity measures on arms deals with Germany, France and the US as a potential condition of receiving bailout funds. If true, it is certainly not unprecedented for the global military industrial complex to benefit from deals made by their friends in the central banking community. After all, war is the health of the state. The last thing big government proponents want is for peace to break out in the world. Read the rest of this entry »
The private, foreign International Monetary/Banking Cartel controls its puppets in Washington as it controls its oil company executives. And everything the Cartel does is anti-life, there are absolutely no exceptions; and their pretended Gulf oil clean-up is a glaring case in point.
Instead of cleaning up the unprecedented catastrophe created by the Cartel’s mega-corporations (Halliburton, Transocean, and British Petroleum), these very same companies are purposely killing our Gulf of Mexico, under the pretense of cleaning it up. Read the rest of this entry »
(OrangeCountyRegister) – Big Brother wants to watch you more closely. Especially how you spend your money.
His latest snooping plan comes from provisions in the banking bill being debated in the Senate. The bill is being pushed by Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee. Among other things, the bill is supposed to alert regulators to hazards in the industry to prevent another financial meltdown like the one that started in September 2008, and to make it easier to spot rip-off artists like Bernard Madoff.
The bill sets up two new supersnooping federal agencies to collect data on ordinary Americans: Read the rest of this entry »
“This is international fascism”
(May 7) – Alex & Bob talk about the latest Stock market collapse and who are the plunge protection team is. Will they jump in again or will they let it fall all the way next time. Bob breaks down how the International banking cartel are setting america up for it’s biggest economic fall yet. Read the rest of this entry »
“This is international fascism”
(May 7) – Alex & Bob talk about the latest Stock market collapse and who are the plunge protection team is. Will they jump in again or will they let it fall all the way next time. Bob breaks down how the International banking cartel are setting america up for it’s biggest economic fall yet. Read the rest of this entry »
(BusinessInsider) – Your Guide To All The Countries That Are One Riot Away From Becoming Greece
Here’s a snapshot taken from a Morgan Stanley report by Paolo Batori that shows how European financial systems have deteriorated during this crisis, and who’s most at risk of becoming the next Greece. Read More Here
(BusinessInsider) – Behind The Scenes, European Banks Freak Out About Lending To Each Other
Right now, markets are getting hammered as protests rock Athens and no one trusts Greece to get out of this crisis. Read More Here
(MSNBC) – Video: Dow Jones Crash Caused By Typo! – Video Link Here
(CNBC) – Video: Cramer Saves The Market? Sees Error In P&G Share Pricing
CNBC’s Jim Cramer notices the large drop in Procter & Gamble shares and shares his belief there must be an error. View Video Here
(Bloomberg) – Citigroup Finds ‘No Evidence’ Bank Involved in Erroneous Trades
Citigroup Inc. said it found “no evidence” that it was involved in erroneous trades after U.S. equity markets plunged today.
“We, along with the rest of the financial industry, are investigating to find the source of today’s market volatility,” bank spokesman Stephen Cohen said in a statement. “At this point, we have no evidence that Citi was involved in any erroneous transaction.” Read More Here – Update 2
(Reuters) – Many possible triggers for wider euro debt crisis
Europe may be months, conceivably weeks away from an expanded debt crisis that cuts more countries off from access to the markets and forces fresh emergency action by rich governments or the European Central Bank. Read More Here
(SteveWatson) – Audit The Fed Push Strengthened By Second Front In Senate
The push to audit the Federal Reserve was given a fresh injection yesterday with the introduction of another bipartisan amendment to the Wall Street reform bill in the Senate that would force the central bank to reveal where $2 trillion in public bailout money was spent. Read More Here
(CNBC) – Stock Market Falls Nearly 1000 Points
The Dow plunged Thursday amid buzz in the market that European banks have halted lending Read More Here
Stocks staged one of the most dramatic selloffs in market history Thursday as what may have been a trader error exacerbated losses in a market already jittery about the European debt crisis. Read More Here
(Business&MediaInstitute) – Video: CNBC’s Bartiromo – ‘This Really Sounds Like Market Manipulation to Me’
While everyone is scratching their heads and trying to figure out how the Dow Jones Industrial Average (DJIA) lost nearly 1,000 points before rallying back to lose only 347 points – it appears not to be limited to just one stock. Read More Here
(RussiaToday) – Video: Gerald Celente on Greece – People will rise against bank bailouts globally
After a day of unrest which saw three people killed, Greece’s parliament is preparing to vote on the controversial austerity package. Wednesday’s violence included a bank in the capital being set alight. Demonstrators clashed with police when protesters marched on the country’s parliament building. They are angry at government spending cuts aimed at securing a 110 billion euro rescue package from the EU and the IMF. Trend forecaster Gerald Celente says the Greek situation is going global.
(SteveWatson) – Audit The Fed Push Strengthened By Second Front In Senate
Dorgan, Grassley introduce another amendment for spending transparency Read More Here
(HuffingtonPost) – Long-Term Unemployment: 80 Percent Of People Jobless Last Summer Still Out Of Work
Just one in five people who were out of work last summer have found jobs since then. Read More Here
(ZeroHedge) – John Taylor: “Dead Man Walking…The Euro Is Finished” – Tyler Durden
One of the incidents that I remember from my youth was the first time I saw a chicken slaughtered and running around headless for quite a few minutes before it keeled over and died. The euro is at that stage. Its life is finished, but it will be around for some time before it becomes a subject of historical analysis. Read More Here
(Reuters) – Freddie Mac posts loss, sees need for state funds
Freddie Mac (FRE.N), the second-largest provider of residential mortgage funds, on Wednesday said it lost $8.0 billion in the first quarter and warned that it would continue to need government funds because the housing market remains fragile. Read the rest of this entry Read More Here
(RussiaToday) – Video: Alex Jones On Russia Today: Greece Riots Coming To America?
As protests turned into riots in Greece amidst the financial crisis, the big question remains, what will happen to the global financial market after this bailout? This crisis has been spreading globally and many people are saying that the economy is getting worse. Alex Jones says he believes that China will go bankrupt in the next few years. Alex Jones also speaks about the recent advertisement that shows the government invading our homes. Read the rest of this entry »
(Cato@Liberty) – Costly IRS Mandate Slipped into Health Bill
A few wording changes to the tax code’s section 6041 regarding 1099 reporting were slipped into the 2000-page health legislation. The changes will force millions of businesses to issue hundreds of millions, perhaps billions, of additional IRS Form 1099s every year. It appears to be a costly, anti-business nightmare. Read More Here
(DailyMail) – Greek police and protesters clash as fury over economic chaos spills on to streets – Read More Here
(NYTimesBlog) – Where All That Money Went
“We’ve lost almost $11 trillion of household wealth in the last 17 or 18 months,” lamented Senator Christopher J. Dodd, the Connecticut Democrat, on last Sunday’s “Meet the Press,” as he urged Congress to proceed with speedy deliberations on a finance reform bill.
Eleven trillion dollars! That’s over three-quarters of our current gross domestic product. Read More Here
(BusinessInsider) – Here’s Why US GDP Growth Is Unsustainable
The US turned in a fairly robust quarter in Q1 2010, with real GDP growth meeting expectations at 3.2% annualized. This comes on the back of a very robust annualized 5.6% growth in the previous quarter. This is the best growth two-quarter growth we have seen since 2003.
However, when one digs deeper, it is obvious this growth is unsustainable because it is predicated on a reduction in savings rates and a releveraging of the household sector. As a result, I expect weak GDP growth in the second half of 2010. Read More Here
(HuffingtonPost) – Goldman Sachs Reveals it Shorted Gulf of Mexico (SATIRE)
In what is looming as another public relations predicament for Goldman Sachs, the banking giant admitted today that it made “a substantial financial bet against the Gulf of Mexico” one day before the sinking of an oil rig in that body of water. Read More Here
(HoweStreet) – The Welfare State Meets Mathematics
The simple matter is that many nations have been living beyond their means and investors are beginning to doubt governments are good credit risks. That’s saying something, when governments can simply confiscate from the public the money needed to pay bond holders. But debt-to-GDP levels are now so high across the Western world that bond investors (and ratings agencies) are having serious doubts. Read More Here
(ZeroHedge) – With $2 Trillion In 3 Year Funding Needs By the PIIGS, The IMF Is Helpless To Do Anything But Sit Back And Watch
Total PIIGS funding needs (defined as the sum of debt maturities and budget deficits) over the next 3 years amount to $2 trillion. Total PIIGS funding needs in 2010 alone amount to $600 billion. Total IMF bail out capacity: around $700 billion. Sorry – it simply does not compute.
Below is a table summarizing the funding needs of just the PIIGS. Read More Here
(WashingtonsBlog) – If We Broke Up Standard Oil, We Can Break Up the Giant Banks – Read More Here
(BizJournals) – Honolulu foreclosures soar 123% in Q1 – Read More Here
(CNBC) – Spain Jobless Rate Surpasses 20%
Spain’s jobless rate has surpassed 20 percent for the first time since 1997, the government said Friday as it offered more dismal news for a recession-plagued economy that is being dragged into Europe’s debt crisis. Read More Here
(BizJournals) – Florida has highest private student loan delinquency rate – Read More Here
(MercuryNews) – San Jose council cuts its own pay 10 percent
The city is trying to close a record $116 million operating deficit for the upcoming budget year and hundreds of layoffs are anticipated. Read More Here
(BizJournals) – Report: Tech industry dumps 246,000 jobs in 2009
The job losses likely will be much higher in the 2011 report (which will have 2009 state stats) reflecting the full weight of the recession. Read More Here
(knightNews) – UCF Tuition and Fees Could Soar 23% Combined Under Legislative Deal
State lawmakers gave the greenlight for the University of Central Florida and other state schools to hike fees by 15 percent and raise tuition by another 8 percent — while at the same time slashing funding for the Bright Futures scholarship program. Read More Here
(BizJournals) – Report: Alabama manufacturing jobs down 7% in last year – Read More Here
(AP) – Mortgage fraud incidents rise 7 pct last year
Incidents of residential mortgage fraud increased last year, a sign that scammers are still targeting the industry despite more diligent efforts to find and report such activity. Read More Here
(CSpan) – Video: Ron Paul On Foregoing Congressional Pay Raise
Congressman Paul speaks on the House floor in support of a bill that stops the automatic payraise for Members of Congress. View Video Here
(SteveWatson) – Goldman “Sideshow” Hyped To Push Through Obama Banking Reform
Financial experts are in agreement that the Goldman Sachs fraud revelations are being artificially hyped in Washington in order to force through president Obama’s financial regulatory reform measures, proposals that will not punish bigger banks like Goldman and will not protect the American people from the banking cartels at the centre of the economic meltdown. Read More Here
(Bloomberg) – Pennsylvania Capital Told to Consider Bankruptcy Protection
Harrisburg, Pennsylvania, which has missed $6 million in debt payments since Jan. 1, should consider Chapter 9 bankruptcy protection, City Controller Dan Miller told a three-hour special committee hearing today. Read More Here
(BusinessInsider) – Why Today’s Gold Spike Is Important And Could Mark The Start Of Something Big
Gold has been rallying for awhile — nearing all time highs in the dollar, even while breaking all-time highs in the euro — but the metal’s action hasn’t been all that noteworthy. Read More Here
(MSNBC) – Goldman to Congress: We didn’t mislead clients
Top Goldman Sachs officials defended their conduct in the financial crisis on Tuesday, flatly disputing the government’s fraud allegations against the giant financial house. “I did not mislead” investors, insisted a trading executive at the heart of the government’s case. Video Link Here
(SteveWatson) – Goldman “Sideshow” Hyped To Push Through Obama Banking Reform
Financial experts are in agreement that the Goldman Sachs fraud revelations are being artificially hyped in Washington in order to force through president Obama’s financial regulatory reform measures, proposals that will not punish bigger banks like Goldman and will not protect the American people from the banking cartels at the centre of the economic meltdown. Read More Here
(NewsWeek) – Video: Levin to Goldman Sachs – ‘You Knew It Was a S–tty Deal!’
After two years of hemming and hawing in Washington about the real culprits on Wall Street, Sen. Carl Levin’s Permanent Subcommittee on Investigations finally got to the heart of the matter this morning. Drawing on a voluminous collection of internal Goldman e-mails and other exhibits, Levin and the ranking acting co-chair, Sen. Susan Collins of Maine, tore into an array of current and former Goldman mortgage traders, including the recently indicted Fabrice “Fabulous Fab” Tourre, over the one fundamental question hanging over the whole financial catastrophe. Was Goldman honest with its clients about what was happening in the markets? Read the rest of this entry »
(NaturalNews) – Billions of dollars from the illegal drug business was the only thing that kept the global financial system from collapsing at the height of the banking crisis just over a year ago, according to the head of the U.N. Office on Drugs and Crime.
“In many instances, the money from drugs was the only liquid investment capital,” Antonio Maria Costa said. “In the second half of 2008, liquidity was the banking system’s main problem and hence liquid capital became an important factor.”Read the rest of this entry »
(EUTimes) – The global banking elite are preparing to assault Americans with two huge new tax increases as President Obama contradicts the assurances of White House aides and his own campaign trail promise by asserting that a VAT tax is still on the table, as the IMF outlines a new tax on financial transactions that is being hailed as a blow to the banks yet represents another stealth tax on the people.
“President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days,” reports the Associated Press. – Read More Here
(AlterNet) – Sleep sweating? Here are some new ways the pharmaceutical plans to make money.
Since direct-to-consumer drug advertising debuted in 1997, pharma’s credo has been When The Medication Is Ready, The Disease (and Patients) Will Appear. Who knew so many people suffered from restless legs? Read More Here
Video: Jason Bermas Recalls G20 Ordeal on The Alex Jones Show – View Video Here
Video: Alex Jones – Ruled by The Banking Family Crime Syndicate – View Video Here
Video: Peter Dale Scott Reveals Secret Order within U.S. Gov. on Alex Jones Tv Hosted by Jason Bermas
Peter Dale Scott, a former Canadian diplomat and English Professor at the University of California, Berkeley, is a poet, writer, and researcher. He was born in Montreal in 1929, the only son of the poet F.R. Scott and the painter Marian Scott. He is married to Ronna Kabatznick; and he has three children, Cassie, Mika, and John Scott, by a previous marriage to Maylie Marshall. His prose books include The War Conspiracy (1972), The Assassinations: Dallas and Beyond (in collaboration, 1976), Crime and Cover-Up: The CIA, the Mafia, and the Dallas-Watergate Connection (1977), The Iran-Contra Connection (in collaboration, 1987), Cocaine Politics: Drugs, Armies, and the CIA in Central America (in collaboration, 1991, 1998), Deep Politics and the Death of JFK (1993, 1996), Deep Politics Two (1994, 1995, 2006), Drugs Oil and War (Lanham, MD: Rowman and Littlefield, March 2003), The Road to 9/11 (Berkeley: University of California Press, 2007), and The War Conspiracy: JFK, 9/11, and the Deep Politics of War (Ipswich, MA: Mary Ferrell Foundation Press, 2008). Read the rest of this entry »
Health care spending accounts for approximately 17% of GDP in the USA. Until last week about 50 cents of every health care dollar was being spent by the government with the remaining 50 cents so being spent in the private sector. Until last week about 11% of the healthcare industry was controlled by government monopoly in the form of Medicare, Medicaid, Indian Health Care, Veterans Health Care, and other entities (all failing with trillions of dollars in unfunded liabilities). The 6% remaining in the private sector is subject to heavy government intervention (i.e. largely a political capitalism, not free market capitalism). With the passage of Obamacare the remaining 6% of the health care industry will soon fall under the complete control of the federal government. Experience and the laws of economics tell us that a government monopoly on health care means costs will spiral out of control, taxes will skyrocket, innovation will be curtailed, the brightest minds will flee the health care industry, shortages, waiting lines, and unnecessary mortality will result. Welcome to the tyranny of socialized medicine. Read the rest of this entry »
Alex talks with regular guest Bob Chapman. Mr. Chapman publishes The International Forecaster, a newsletter of timely and in-depth coverage on the economy and world economic events. Chapman became a stockbroker in 1960 and retired in 1988. He owned and wrote the Gary Allen Report, which had 30,000 subscribers. From 1976 to present he has spoke and given workshops at over 200 business conferences worldwide, and has been on radio and TV hundreds of times. Read the rest of this entry »
(WashingtonsBlog) – Most people think that banks lend solely from their base of deposits. Some also know that with fractional reserve banking, they can loan out many times more than they actually have in reserves. Read the rest of this entry »
Alex welcomes back to the show film-maker, broadcaster and former broker and options trader, Max Keiser. Keiser is the host of On the Edge, a program of news and analysis hosted by Iran’s Press TV, and he also hosts Keiser Report, a financial tabloid, that broadcasts on Russia Today. Keiser correctly predicted the sub-prime mortgage-backed securities crisis would result in recession and also predicted the break-down of Iceland’s economy in 2008. Read the rest of this entry »
(C4L) - President Obama likes to portray himself as a man of the people. But a look behind the veil shows this to be a deception. Take the financial regulatory overhaul brewing in Washington. Read the rest of this entry »
(Infowars) – From planned financial meltdowns, to engineered economic collapses, to increased taxes and inflation, to social upheavals, laboratory concocted viruses, deadly vaccines, state sponsored terrorist attacks, and more wars, the Controllers of the International Monetary/Banking Cartel are bringing their end-game to a climax, which is their imperious One-World Government. Read the rest of this entry »
(Infowars) – Citibank’s recent announcement that it may require seven days notice prior to honoring withdrawals is just the latest small brushstroke on a much larger canvas being painted by the banking system and the US government. The broader picture is shocking for those watching as it comes into view. Americans must heed Martin Luther King’s warning, “today our very survival depends on our ability to stay awake.” Read the rest of this entry »
(PaulWatson) – The recent controversy surrounding Citibank’s advisory to its customers reserving the right to impose a 7 day restriction on withdrawals from their accounts is a stark reminder of the vulnerability of the fractional reserve banking system and the FDIC’s shaky guarantee that it can insure deposits in the event of a bank run. Read the rest of this entry »
(Infowars) – Our knee-jerk, tunnel-visioned, democratic and republican voters must develop some peripheral vision, or they will be taught some lessons of life that could more more easily be learned by viewing outside of the central areas of corporate media focus. And perhaps, the best place to begin seeing on the edges of one’s usual visual field is the corporate media itself. Read the rest of this entry »
(ZeroHedge) – And so the tragicomic becomes surreal. Yesterday’s news about the departure of the head of the debt management agency, Spyros Papanicolaou, was somewhat of a yawner, until we realized that his replacement would be none other than Petros Christodoulou, who until today was head of Private Banking and Group Treasury at the National Bank of Greece (reporting directly to the CEO of the NBG Tamvakakis), as can be seen on the org chart below. Yet was is oddest, is that Mr. Christodoulou worked not only as head of derivatives at JP Morgan but also held comparable posts at Credit Suisse, and… wait for it, Goldman Sachs… Uh, say what? Read More Here
(RussiaToday) – With the global economic climate still gloomy, what exactly are American financiers doing to tackle the problem? In 17 episode of the Keiser Report, Max Keiser gives a dramatic example of what’s going on in the banking sector and who is to blame. Read the rest of this entry »
“They were terribly cynical people who felt that the war would end as all wars do and they would go back to business as usual.”
It is ironic that the video below – “Banking with Hitler” – begins with a mechanism for the payment of reparations by Germany to the victors of the “War To End All Wars” – the Bank for International Settlements (BIS). Somehow this international banking mechanism became the enabler for the next worldwide bloodbath – World War 2. I suspect the same is occuring today. Read More Here
Global stocks were mixed Friday, with European shares paring earlier gains after preliminary data showed the euro zone economy’s recovery faltered in the fourth quarter, on top of investors still uncertain as to what will happen to Greece. Read More Here
(Fox) – After Rare Bipartisan Deal, Reid Slashes Jobs Bill
Senate Majority Leader Harry Reid abruptly announced Thursday that he had drastically slimmed down the bill from $85 billion to just $15 billion, tossing out key priorities of both Republicans and Democrats. Read More Here
(WaIndep) – Credit Suisse Declares the U.S. a Riskier Investment Than Indonesia
Amid fears that Switzerland might come to an agreement with the United States on banking privacy and tax evasion disclosures, Credit Suisse issued a report identifying those countries it determined to have the highest risks of default on their sovereign debts. Number 16 on the list was the United States, based primarily on its 2009 budget deficits and government debt. Read More Here
(Reuters) – German halt, Italian reverse hit euro zone recovery
Europe’s post-recession recovery hit a roadblock on Friday as German economic growth unexpectedly halted and Italy went into reverse in the final quarter of 2009, knocking total euro zone GDP growth almost flat. Read More Here
(HindustanTimes) – India’s food inflation inching to 18 per cent
Even as Prime Minister Manmohan Singh stressed last week that the worst was over on rising prices of essential items, India’s annual food inflation based on wholesale prices rose to 17.94 per cent for the week ended Jan 30. Read More Here
(Fox) – Obama Signs Bill Lifting Federal Debt Limit to $14.3 Trillion
President Obama has signed legislation lifting the cap on government borrowing to $14.3 trillion. Read More Here
(Bloomberg) – Beijing Seen Vacant for 50% as Chanos Predicts Crash
Jack Rodman, who has made a career of selling soured property loans from Los Angeles to Tokyo, sees a crash looming in China. He keeps a slide show on his computer of empty office buildings in Beijing, his home since 2002. The tally: 55, with another dozen candidates. Read More Here
Stick a Fork in it, The Dollar is Done
News junkies, currency buffs, and economists of an Austrian tilt have been having quite an entertaining few weeks. Between massive blizzards from Virginia to New England, another baseless Dollar rally, and the hilarious notion that a little Greek debt could unwind the Euro, there certainly has been plenty to talk about. Read More Here
(Aletho) – New Phase, Not Just Another Recession
It is becoming increasingly clear that the financial meltdown of 2008 and the subsequent economic contraction that continues to this day represent more than just another recessionary cycle. More importantly, they represent a structural change, a new phase, the phase of the dominance of “finance capital,” as the late Austro-German political economist Rudolf Hilferding put it. Read More Here
(Portfolio) – Danger Ahead for Small Banks
The small banks that do much of the lending to small business face a crisis in the near future that could force thousands of them to cut back on loans. Read More Here
(StarTribune) – Foreclosure numbers may foretell delinquency surge
The number of U.S. households facing foreclosure in January increased 15 percent from the same month last year, and a surge in cash-strapped homeowners who’ve fallen behind on mortgages could be on the way. Read More Here
(AJC) – Metro Atlanta foreclosures skyrocket this month – Read More Here
(ABC15) – Report: Valley foreclosures not slowing down – Read More Here
(DallasBiz) – Dallas/Fort Worth quarterly foreclosure postings jump 22% – Read More Here
(NYDaily) – Number of New Yorkers at risk of losing their home to foreclosure surges, new statistics show – Read More Here
(MarketTicker) – 30 Year Auction – A Solid ‘F’ – Read More Here
(DailyMail) – Welcome to boarded-up Britain: One in eight shops now stand empty as recession hits high streets
The number of empty shops blighting our high streets has trebled since the start of the credit crunch, it was revealed yesterday. Read More Here
(MailOnline) – Did Goldman Sachs rig the bank-tax vote? Foul play suspected in Richard Curtis internet campaign – Read More Here
(DailyExpress) – Housing Minister: It’s Ok to Lose Your Home
LABOUR’S housing minister yesterday insulted millions struggling to survive the recession by claiming that having their homes repossessed might be their “best option”. Read More Here
(DailyExpress) – Labour’s ‘100 %’ Death Tax
MILLIONS of people could lose almost every penny of their assets under a new “death tax” being considered by Labour to fund care for the elderly. Read More Here
Kill ‘em all, and let God sort ‘em out – Anonymous
As the drums beat against the backdrop of a U.S. military buildup in the Persian Gulf, war with Iran seems more inevitable than it does likely. But does Iran pose a real threat to our national security or are they being used as a convenient scapegoat to divert the American people’s attention away from an impending financial collapse here at home? Read the rest of this entry »
(CNN) – New York Attorney General Andrew Cuomo unveiled a major legal action against senior Bank of America executives Thursday over its controversial purchase of Merrill Lynch, including bringing civil charges against its former CEO Ken Lewis. Read the rest of this entry »
About to lose your home? Have you lost your home? Can you make the interest payments on your credit cards? Can you afford to maintain your car, your family’s incidental needs, your children’s health, or even buy enough food, gasoline or heating fuel? Read the rest of this entry »
Readers ask if the financial crisis is over, if the recovery is for real and, if not, what are Americans’ prospects. The short answer is that the financial crisis is not over, the recovery is not real, and the U.S. faces a far worse crisis than the financial one. Here is the situation as I understand it: Read the rest of this entry »
Readers ask if the financial crisis is over, if the recovery is for real and, if not, what are Americans’ prospects. The short answer is that the financial crisis is not over, the recovery is not real, and the U.S. faces a far worse crisis than the financial one. Here is the situation as I understand it: Read the rest of this entry »
(FinancialTimes) – Some of the world’s most prominent bankers have come out in favour of a global bank wind-down fund, a concession from the industry after weeks of fighting proposals for new taxes in the US and Europe. Read the rest of this entry »
(Infowars) – The ever exploding twin towers of US debt and trade deficits are to be expected from a country that’s engaged in two foreign invasions, maintains over 170 military bases overseas, gives trillions of dollars to foreign bankers, yet produces nothing anyone in the world wants or can use. Read the rest of this entry »
In another measure of how what the establishment labels “conspiracy theory” is quickly becoming mainstream, Bloomberg News carries a story today acknowledging that those derided as “crazy” for warning that the world is run by a secret banking cabal have largely been proven right in light of the AIG cover-up. Read the rest of this entry »
Few professionals are yet willing to admit we have been in a depression for the last year.
You have to understand the position that economists and analysts are in. They work for corporations, insurance, Wall Street, banking and government and if they thought we were in a depression and they publicly announced that all chances for advancement would be lost or they would be squeezed out of the firm or simply fired. Read the rest of this entry »
(MisesBlog) – President Obama announced on Thursday, January 21 his intention to push for banking reform and new legislation to limit the size of banks to prevent the existence of banks that are “too big to fail,” and to have new regulations instituted that control the type and degree of risks banks can undertake in their investment decisions. Read the rest of this entry »
(MoneyAndMarkets) – Washington has so thoroughly botched its supervision of the banking industry that 200 banks are likely to fail this year — easily surpassing last year’s 140 bank failures … inevitably involving the greatest bank losses in history … and already costing the FDIC ten times more than the great S&L and banking crisis of the 1980s did. Read the rest of this entry »
(NewsWithViews) – While a bit unusual, this column is going to be audio. Events are happening at hyper speed and I want to talk to you as we go through these items one by one so we can all see the bigger picture.
The Internet has literally been melting down the past week over the second, dangerous Executive Order issued by Marxist Barack Obama. Below are links to the documents I wish to bring to your attention. Not only are these Executive Orders an in your face blueprint for tyranny, the timing is what should concern everyone. Read the rest of this entry »
