Government greases the skids for America’s Greece-style meltdown

(PaulWatsonAlexJones) – The Obama administration’s move to update an executive order to allow the government to seize control of virtually every aspect of society in both emergency and non-emergency situations lays the groundwork for the future nationalization of the U.S. economy. Read the rest of this entry »

See Also: (HigginsBlog) – S&P 500 Breaks 1120 Resistance Point – Crash May Be About To Get Much Worse – Read More Here

Also: (HigginsBlog) – Global Financial Meltdown: Investors Dump Nearly Everything Admist Worldwide Market Crash – Read More Here

(HigginsBlog) – The Global Financial Meltdown has dramatically worsened as Corporations and China Jump Aboard The “Institutional” Global Bank Run As Banks Fall Apart As Their Seams.

Earlier today the world saw a global financial meltdown as investors dumped everything from stocks to commodities and literally everything in between. Read the rest of this entry »

In this Sunday edition, Alex brings you live updates on the emergency in Japan following the meltdown of one of its nuclear power plants and the aftermath of the devastating earthquake and tsunami. INFOWARS IS TRACKING the aftershocks, the risk of further plant failures, the fallout, radiation safety information and the unfolding crisis the island nation is struggling to contain. Read the rest of this entry »

(PaulWatson) – Administration spokesman Robert Gibbs’ angry retort that left-wing critics of President Obama ought to be “drug tested” because they are “crazy” marks a crucial benchmark in the accelerating evisceration of Obama’s public support, even amongst liberals who, having exalted Obama as some kind of savior, are now realizing that he is merely a servant to the banking elite.

Gibbs’ meltdown occurred during an interview with The Hill newspaper, in which he slammed the “professional left” for criticizing Obama for failing to live up to his ideological promises.

“I hear these people saying he’s like George Bush. Those people ought to be drug tested,” Gibbs said. “I mean, it’s crazy.”

While some of the criticism coming from the left is undoubtedly over side-issues like gay marriage or gays in the military, much of it centers around Obama’s continuation and indeed intensification of the wars in Iraq and Afghanistan, as well as his failure to close Guantanamo Bay, in addition to his cosying up to Wall Street while abandoning Main Street as the economic decline worsens. Read the rest of this entry »

(OfTwoMinds) – The explosion of Deepwater Horizon and the collapse of Lehman Brothers share similar characteristics of risk, denial and coverup. My good friend G.F.B. recently observed that the Deepwater Horizon catastrophe uncannily mirrors the global financial meltdown that was triggered by the September, 2008 collapse of Lehman Brothers.

G.F.B. suggested that the Deepwater Horizon fiasco mirrored the global financial meltdown, almost as if it were a physical manifestation of the same hubris, denial of risk, manipulation and misinformation which collapsed the global financial house of cards. Read the rest of this entry »

(ZeroHedge) – The WSJ’s Hit Piece On Gold – Tyler Durden – Read More Here

(GoldScents) – ENDING PHASE?

I have to wonder, are we entering the ending phase of this cyclical bull?

For sometime now I’ve noticed the similarities between the `02-`07 cyclical bull and what we’ve experienced since March of last year. The one difference is that this time we’ve truncated the middle phase of the bull. I suspect that was a direct result of the massive liquidity Bernanke … and all central banks have pumped into the system. Read More Here

(InterForecaster) – Deflationary Depression and Purging To Come – Bob Chapman

We believe an inflationary depression began in February of 2009, and little has changed. Since then factory output has increased, as have inventories and other outward signs, such as retail sales. We believe that one-year spurt is ending, unless a new stimulus program is put in place. This past week we saw a $78 billion addition to unemployment benefits and Larry Summers has said they need an additional $200 billion. In order to keep the economy going sideways a total of another $800 billion will be needed. Read More Here

(KUT) – State Business Tax Receipts Down

RJ DeSilva with the State Comptroller’s Office says new figures show a ten percent decline from last year. Read More Here

(TimesOnline) – UK Welfare State = Family Breakdown, Emasculated Men – Read More Here

(WSWS) – Europe’s media warn of global social unrest – Read More Here

(ClickOrlando) – Want Ad: Unemployed Need Not Apply

Job hunters are facing a new trend: businesses asking recruitment companies to keep unemployed people out of their job pools. Read More Here

REPOST – (RawStory) – Goldman Sachs sold $250 million of BP stock before spill

Firm’s stock sale nearly twice as large as any other institution; Represented 44 percent of total BP investment Read More Here

(CityWire) – Why Rothschilds is piling into gold – Read More Here

(Money&Markets) – RED ALERT: Get out of vulnerable stocks IMMEDIATELY!

You don’t have much time.

A Dow meltdown is imminent, and if you want to protect yourself from losses, it’s time to get out of the vulnerable stocks in your portfolio — immediately. In this special edition, I will explain why. Read More Here

(BizJournals) – Hawaii bankruptcy filings up 34.4% – Read More Here

(Telegraph) – EU plans green taxes to cut debt – Read More Here

(Wimp) – Video: Visualizing Obama’s budget cuts. – Video Link Here

(TheMarketGuardian) – Germany To Add To Goldman’s Headaches, Prepares To Sue Firm – Read More Here

(NorthJersey) – Foreclosures up 33% in new jersey, OUTPACING national rate

What’s new: Foreclosure filings in New Jersey rose 33 percent in the first quarter of 2010, compared with the same period in 2009, according to RealtyTrac, a California company that follows the foreclosure market. Read More Here

(DrHousingBubble) – California Underemployment Rate at 24 Percent – 100,000 Workers Will Lose their Unemployment Insurance. No Housing Recovery can be had without Employment Recovering Read More Here

(Examiner) – CMKM Diamonds and the $3.87 trillion lawsuit you didn’t hear about

As the United States continues to fracture in every way imaginable, most citizens are unable to keep up with the never-ending hodgepodge of government corruption. Each day, a new larger-than-life scandal emerges, and in the short mind span of news media, there is always a bigger and better story to chase. Right now, the hot button issue for mainstream news outlets is healthcare reform, and its myriad implications for our society; this doubtlessly ensures the aforementioned media will continue to overlook unprecedented accusations brought forth in a recent $3.87 trillion lawsuit against U.S. Securities and Exchange Commission Chairman Mary L. Shapiro, as well as several other current and former SEC commissioners, among others. Read More Here

(MyBudget360) – Stock Market Hustle – Three Ways Wall Street has Created a New American Serfdom. The Overly Expensive Mortgage Deduction, Wall Street Pseudo-Rally, and Attacking the Poor Read More Here

(ZeroHedge) – Step Aside Roubini – FX Concepts’ John Taylor Is The New Dr. Doom: “2011 Will Be Worse Than 2008″ – Read More Here

(JSMineSet) – The Weakness In Gold That Isn’t

Let no weakness in gold disturb you at this time. – Read More Here

(Reuters) – UPDATE 3-Germany, UK demand Goldman Sachs probe

Germany and the U.K. will seek details from the U.S. Securities and Exchange Commission (SEC) about the activities of Goldman Sachs Group Inc., (GS.N) as a prelude to potential legal steps following a U.S.-led fraud investigation. Read More Here

(Bloomberg) – EU’s Investigation of Goldman Will Be ‘Profound,’ Rehn Says

The European Union investigation into Goldman Sachs Group Inc.’s role in providing swaps to the Greek government to help reduce its budget deficit will be “profound and thorough,” EU Monetary Affairs Commissioner Olli Rehn said. Read More Here

(EconomicTimes) – British FSA launches probe into Goldman ops: Report

The British financial regulator FSA has started a probe into the London operations of Goldman Sachs, following the charges of fraud slapped by the US markets watchdog against the Wall Street giant. Read More Here

(WashingtonsBlog) – Even Clinton Slams Clinton Retreads: Summers and Rubin Must Go

Clinton told ABC that Rubin and Summers were wrong on derivatives:

On derivatives, yeah I think they were wrong and I think I was wrong to take [Summers and Rubin's advice] because the argument on derivatives was that these things are expensive and sophisticated and only a handful of investors will buy them and they don’t need any extra protection, and any extra transparency. The money they’re putting up guarantees them transparency.

“And the flaw in that argument was that first of all sometimes people with a lot of money make stupid decisions and make it without transparency. Read More Here

(RussiaToday) – Video: Gerald Celente – Economic recovery a cover up – Video Link Here

(MarketWatch) – Ashes of subprime volcano fall on Wall Street

It was mostly smooth sailing for stocks during the first week of earnings until Friday, when news of Goldman Sachs’ troubles with regulators cast over Wall Street a cloud of uncertainty almost as thick as the volcanic ash above Iceland. Read More Here

(MorningNewsBeat) – FMI Attacks New Swipe Fees Instituted By Visa

The Food Marketing Institute (FMI) has lambasted Visa’s plan to increase by nearly 30 percent the swipe fees retailers have to pay when customers use PIN debit cards, beginning today. Read More Here

(Guardian) – London Observer: Now we know the truth. The financial meltdown wasn’t a mistake – it was a con

Hiding behind the complexities of our financial system, banks and other institutions are being accused of fraud and deception, with Goldman Sachs just the latest in the spotlight. This has become the most pressing election issue of all. Read More Here

(MailOnline) – Proof speed cameras exist to rake in money as receipts finally fall

Motorists have been hit with speeding tickets worth almost £1billion under Labour, a report shows. Read More Here

(ReutersBlog) – Europeans won’t be amused by alleged Goldman scam

Europeans won’t be amused by the alleged Goldman Sachs scam. ABN Amro, and therefore ultimately Royal Bank of Scotland, ended up losing $841 million in the allegedly fraudulent collateralised debt obligation investment concocted by the investment bank. Meanwhile, IKB, the bust German bank, lost nearly $150 million. Read More Here

(Fox) – Video: Cap and Trade is NOT DEAD, What it Will Cost You? – Is Obama Trying to Destroy the U.S ?? - Read the rest of this entry »

(Youtube) – SHOCKING NEWS!! Recovery in Jeopardy! Stimulus Change propaganda losing steam – View Video Here

(Redress) – America and world economic meltdown – The mystery of the Afghanistan war

Christopher King argues that “a situation exists in which it may be in the interests of the United States to seek a ‘cold war’ situation with Russia and China as a pretext for defaulting on its external debt, attacking Iran, taking direct control of all Middle Eastern oilfields and effective control of Europe”. Read More Here

(AP) – Kansas tax collections decline by 27 percent for February

The Department of Revenue reported Friday that Kansas collected $71 million less in tax revenues than expected this month, leading one lawmaker to call for additional cuts to the current state budget. Read More Here

(Tennessean) – Property loans poised to fail

Like other apartments that have fallen into foreclosure in the Nashville area, Gateway is a reminder of a troubling and still growing problem for bankers — commercial real estate loans that have turned sour and could weigh on the economy for years. Read More Here

(Boston) – Foreclosure crisis hits affluent towns

Number of petitions to seize homes spikes in Norfolk, Middlesex counties Read More Here

(Vindy) – Foreclosure crisis deepens, despite earlier optimism

Local, state and national foreclosure statistics back up what many of us could sense about the number of homes falling to foreclosure last year: The problem got worse. Read More Here

(Bradenton) – Abandoned foreclosures a mounting crisis in Manatee (with video)

A mounting crisis created by the record number of foreclosures in Manatee County has hit Jeannette Traylor right where she lives: An abandoned foreclosed home has brought blight, crime and fear into her neighborhood. Read More Here

(MercuryNews) – Biz Break: Foreclosure wave ahead? Plus: ‘Bloom Box’ arrives

Today: Freddie Mac’s CEO expects a “potential large wave of foreclosures.” Silicon Valley startup Bloom Energy promises a new day for cheaper, cleaner power. Read More Here

(Bloomberg) – FDIC closes bank in Nevada for year’s 21st closure

The Federal Deposit Insurance Corp. is seeking bids for $610.5 million of unpaid loans it’s holding from failed U.S. lenders including IndyMac Bank, Silverton Bank and New Frontier Bank. Read More Here

(Video) – AIG needs another bailout after Exec bonuses – Peter Schiff – View Video Here

(CounterPunch) – Profiting From the Hysteria They Stoked – Make War on Goldman Sachs – Read More Here

(Video) – Fractional Banking and How it Affects the Economy! Depression? Recession? – View Video Here

(Video) – The Collapse of Crony Socialism and the War of Information – View Video Here

(Infowars) – In an effort to explain our escalating financial crisis, an American Nightmare (an Environmental Dream), the pundits are focusing their angst on the 44th POTUS, who might very well go down as the single most inept president in all of American history. (How to Squander the Presidency in One Year, David Michael Green) Read the rest of this entry »

(FinancialTimes) – US senator warns of ‘financial meltdown’ risk

The US is heading for a debt-driven “financial meltdown” within five to seven years, according to Judd Gregg, the outgoing Republican senator for New Hampshire. Read More Here

(SteveWatson) – Prominent Investor: Pound Could Collapse Within Weeks

Billionaire financier Jim Rogers has predicted that the British Pound could completely collapse within weeks, sending shockwaves throughout the global economy and heralding the beginning of a downturn that would make the recent economic crisis look tame in comparison. Read More Here

(WSJ) – The Euro’s Next Battleground: Spain

Greece set off the crisis rattling the euro zone. Spain could determine whether the 16-nation currency stands or falls. Read More Here

(DailyReckoning) – A Real Economic Phenomenon

The depression is alive and well, thank you. Read More Here

(CNN) – The secret lives of America’s debtors

Americans are loaded up with credit card debt. What’s worse is that some husbands, wives and even children hide those money woes from their families. The results are often devastating. Read More Here

(DetroitNews) – Detroit Mayor Bing emphasizes need to shrink city

Mayor says it’s not ‘an easy conversation,’ but people, services must be focused to save city Read More Here

(WashingtonTimes) – Bernanke delivers blunt warning on U.S. debt

Stage is set in U.S. for a Greek tragedy Read More Here

(Bloomberg) – Junk Debt ‘Wall’ to Trigger U.S. Defaults, Bank of America Says

A “wall” of junk debt maturing in the next four years will increase the risk of corporate defaults in the U.S., according to Bank of America Merrill Lynch. Read More Here

(HuffingtonPost) – Freddie Mac 4Q Results: Freddie Mac Posts $7.8 Billion Loss

Freddie Mac lost almost $26 billion last year, ominous news for taxpayers who are footing the bill to rescue the mortgage finance company and its sibling Fannie Mae. Read More Here

(DigitalJournal) – Jim Rogers: British Pound could collapse within weeks

Jim Rogers, Chairman of Rogers Holdings, has once again made a bold prediction and that is the British Pound could quite possibly collapse within the coming weeks. Read More Here

(DailyMail) – Man who broke the Bank of England George Soros ‘at centre of hedge funds betting against crisis-hit euro’

The man who broke the Bank of England in 1992 is said to be at the centre of a plot to cash in on the demise of the euro. Read More Here

(HuffingtonPost) – Jim Bunning Repeatedly Blocks Unemployment Benefits Extension, Tells Dem ‘Tough Shit’

Jim Bunning, a Republican from Kentucky, is single-handedly blocking Senate action needed to prevent an estimated 1.2 million American workers from prematurely losing their unemployment benefits next month. Read More Here

(SeekingAlpha) – Recent Stats Indicate U.S. Economic Recovery Was an Illusion

A number of economic reports in the last few days indicate that the U.S. economy has not only not failed to recover from the recession, but continues to fall deeper into a hole. Read More Here

(Truthout) – Documents Reveal Anthem Blue Cross Manipulated Data to Justify Massive Rate Hike

Internal documents show one of the country’s largest for-profit health insurers, in an effort to maintain profits, manipulated data to justify a rate increase on individual premiums in California this year by as much as 39 percent. Read More Here

(ConnexionFrance) – Seniors march in pensions protest

THOUSANDS of retired people have taken to the streets to call for changes to the way the state pension is calculated. Read More Here

(Cryptogon) – Banks Bet Greece Defaults on Debt They Helped Hide

But first, a quick walk down memory lane: Banks Bundled Bad Debt, Bet Against It and Won: Read More Here

Deutsche Bank chairman Josef Ackermann said “we will all be losers” if governments clamp down on markets too zealously: “The pendulum might have swung too far,” Ackermann warned. “Consistent and global rules, and a level playing field is absolutely key to the global economy.” Read the rest of this entry »

(Times) – A WARNING that climate change will melt most of the Himalayan glaciers by 2035 is likely to be retracted after a series of scientific blunders by the United Nations body that issued it. Read the rest of this entry »

(CNBC) – January 05, 2010 Read the rest of this entry »

The rally in gold prices has driven several bullion analysts to frenzied forecasts. Some say gold prices will reach $2,000 per ounce soon. Others are predicting big boom for the yellow metal, saying gold prices will zoom to $5,000 and eventually to even $15,000 per ounce in the years to come. Read the rest of this entry »

Whenever I hold my two-year old grandson, Grant, in my arms I wonder what this world will look like six decades from now, when he is my age. I know that if we “stay the course” it will be ugly. The current economic meltdown is a harbinger. Read the rest of this entry »

In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. Read the rest of this entry »

I.O.U.S.A. boldly examines the rapidly growing national debt and its consequences for the United States and its citizens. Burdened with an ever-expanding government and military, increased international competition, overextended entitlement programs, and debts to foreign countries that are becoming impossible to honor, America must mend its spendthrift ways or face an economic disaster of epic proportions. Read the rest of this entry »

I.O.U.S.A. boldly examines the rapidly growing national debt and its consequences for the United States and its citizens. Burdened with an ever-expanding government and military, increased international competition, overextended entitlement programs, and debts to foreign countries that are becoming impossible to honor, America must mend its spendthrift ways or face an economic disaster of epic proportions. Read the rest of this entry »

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

Fall Of The Republic exposes the vultures of global corporatism whose continued existence depends wholly upon their ability to trigger and manipulate financial meltdown as and when they choose. Read the rest of this entry »

The economic meltdown has put the country on the fast track to socialism, but through a series of tiny steps. One need only to examine the supposed victories in the war on depression to see how this is happening. The latest is the claim that the Obama administration has successfully renegotiated many mortgage obligations in a way that allows people to keep their homes. Read the rest of this entry »

(C4L) – Is the answer to an economic hangover to get more drunk? Read the rest of this entry »

A new world order is emerging at the G-20 Summit in Pittsburgh with a decision by the group to become the premier coordinating body on economic issues. Read the rest of this entry »

(September 14th, 2009) – Gerald Celente – the most trusted name in trends – sits down for an exclusive interview with RT’s Anastasia Churkina to talk about what the future holds for America during and after the Great Recession, gives advice to Obama, and forecasts the unexpected. Read the rest of this entry »

The man who saw the meltdown coming had another troubling insight: it will happen again Read the rest of this entry »

Eerie coincidence or coded Wall Street tribute?
FDR famously said, “In politics, nothing happens by accident. If it happens, you can bet it was planned that way.”
Whether or not that mantra extends to business, everyday life or the ‘free’ market is up for debate, and perhaps subject to one’s personal convictions. Read the rest of this entry »

The business of death and destruction is booming for weapons manufacturers operating in the United States of America. Read the rest of this entry »

(Dprogram Exclusive) – Maybe it’s the smoke from Mt. Vesuvius that keeps Arianna Huffington and the financial community from seeing that the economic collapse has nothing to do with the Fed “missing” the warning signs leading up to the October meltdown. Read the rest of this entry »

Which is your favorite apocalyptic scenario? If you really had to choose would it be the intergalactic stand-off? Zombie plague? Read the rest of this entry »

Thanks to Obama’s unique style of breaking promises a new series of columns must be added to our fact-checker’s notebooks. Instead of just listing the promised policies with a yes or no blank to be filled in with the date-we must add some other columns: “Retracted,” “Withdrawn,” “Reconfigured” and Reversed. Read the rest of this entry »

“Since 1945, the US dollar has been the world reserve currency. As its value depreciates, countries holding huge dollar reserves begin to worry. China in particular has expressed grave concerns since it holds nearly $2 trillion in US currency reserves, mostly in the form of US treasury bonds. According to some reports, it is drawing down its dollar reserves by purchasing gold and stocks of raw materials and energy.” Read the rest of this entry »

Yes, I still am on sabbatical, but I just had to interrupt my sojourn with the following observations, which simply cannot wait. Allow me to skip my normal sarcasm and vitriol and simply cut to the chase: Read the rest of this entry »

Six months since taking the reins, the Barack Obama administration has met its primary objective. It has swiftly ramped up the murderous imperial agenda inherited from Bush-Cheney while the masses, pacified and deceived by the appeal of the Obama image, pay no attention to realities. Read the rest of this entry »

(C-SPAN) – Paper money has had the effect to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice. – George Washington Read the rest of this entry »

(RawStory) – More than 50 heads of state from the developing world met Wednesday in Egypt to tackle the fallout from the global economic meltdown, with calls for a “new world order” to prevent a repeat of the crisis. Read the rest of this entry »

You would think that causing the worst financial crisis since the Great Depression might have repercussions. You would think being a major factor in the destruction of around 40 percent of the world’s wealth might get you in trouble. You would think being the cause of the worst housing crisis in history — with millions of people losing their homes because of you — might force a restructuring of how Wall Street does things. Read the rest of this entry »

Since the global financial meltdown seems to be the main concern with our corporate world, let’s begin with this topic. Read the rest of this entry »

(C4L) – What started as an intervention of gargantuan proportions has now led to permanent changes in government policy that ushers in a new era of public-private partnerships, or what some call fascism. Read the rest of this entry »

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. Read the rest of this entry »

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. Read the rest of this entry »

Describes what needs to be done regarding the Financial Meltdown. Put the financial system in its proper place and bring Health to the Economy. All based on the Argentine experience of having suffered systemic collapses, hrperinflation and the gross corruption of wanton speculation. Read the rest of this entry »

Describes what needs to be done regarding the Financial Meltdown. Put the financial system in its proper place and bring Health to the Economy. All based on the Argentine experience of having suffered systemic collapses, hrperinflation and the gross corruption of wanton speculation. Read the rest of this entry »

The 2009 Henry Hazlitt Memorial Lecture, presented by Peter Schiff. Recorded at the annual Austrian Scholars Conference, Ludwig von Mises Institute, 13 March 2009. Read the rest of this entry »

For the financial crisis that has wiped out trillions in wealth, many have felt the lash of public outrage. Read the rest of this entry »

If the G20 meeting of world leaders this week results in nothing but more hot air, billionaire George Soros says all bets are off – the global economy is heading for a huge meltdown. Read the rest of this entry »

As the financial collapse gathers steam, gold and silver oracles who have been predicting for years the launch of the price of silver to the moon will see their prophecy fulfilled, but a celebration is not in order. Being wealthy during the last 60 years of unprecedented prosperity at the expense of the Third World and the environment is one thing, but profiting from silver when millions are starving is quite another. Read the rest of this entry »

Legislation to Establish Internment Camps on US Military Bases Read the rest of this entry »

Greedy Wall St Execs are flotsam jetsam compared to global banking elites Read the rest of this entry »

Greedy Wall St Execs are flotsam jetsam compared to global banking elites Read the rest of this entry »

The sharp downward spiral of oil prices has prompted economists to predict that Tehran is facing severe financial hardship within the space of a few months. Read the rest of this entry »

Banking collapse has already happened; Crisis is worst ever; Financial system has effectively disintegrated; Mass social insurrection likely Read the rest of this entry »

The worst economic turmoil since the Great Depression is not a natural phenomenon but a man-made disaster in which we all played a part. In the second part of a week-long series looking behind the slump, Guardian City editor Julia Finch picks out the individuals who have led us into the current crisis. Read the rest of this entry »

The market is heavily manipulated. The driving force behind the meltdown is speculative trade. The system of  “private regulation” serves the interests of the speculators.

While most individual investors loose when the market falls, the institutional speculator makes money when there is a financial collapse.

In fact, triggering market collapse can be a very profitable undertaking. Read the rest of this entry »

TOKYO (AP) — A meltdown in confidence strangled Asian stock markets Wednesday on accelerating fears that the widening financial crisis could spawn a global recession.

After a miserable day on Wall Street when the Dow Jones industrials lost more than 500 points, investors from Tokyo to Mumbai, Seoul to Sydney dumped shares in a broad regional sell-off.

Anxious investors in Tokyo sent shares into a free-fall, with the benchmark Nikkei 225 stock average plunging 9.4 percent — its biggest drop in 21 years — to 9,203.32, a five-year low. Read the rest of this entry »

Failing banks? Endless war? Call Homeland Security.

“Raw capitalism is dead.” — Henry Paulson, U.S. Treasury secretary

“Can’t we just all go out and say things are OK?” — President Bush, to congressional leaders during bailout negotiations

I’m not much of an Army Times reader, but after reading that a brigade was shipping from Iraq in October to serve as “an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks” in the homeland right before the election, my antennae perked up. Same as they did when I read that an electoral college doomsday scenario exists in which Dick Cheney casts the deciding vote that gives McCain-Palin the White House. Read the rest of this entry »