Life the Universe and ....

Geithner - Recession Will End In Months (Letter To Santa)

Wednesday, July 15, 2009

More economic issues

Obama sees jobless rate ticking up in months ahead...SAYS SOME AUTO JOBS 'NOT COMING BACK'...

UK: House prices will stay in the doldrums for years, report predicts: Britain's housing market will stay in the doldrums until the middle of the next decade, and there is a 30% chance that prices will take until 2020 to return to their peak before the crash, a consultancy firm predicts.

Goldman Sachs bank profits soar: The bumper profits at Goldman Sachs come just nine months after $125bn was given to US banks

Goldman Sachs execs sold $700m of stock: report: Most of the sales, worth 431 million pounds or 500 million euros, occurred when the firm enjoyed the support of 10 billion dollars in US government capital injections, the London-based newspaper said.

Uncle Sam is $1 trillion in the hole: Federal budget deficit rises by $94.3 billion in June, pushing the total shortfall for the current fiscal year to $1.09 trillion.

US invites Gulf Arab investment: Speaking in the Saudi port city of Jeddah on Tuesday, Timothy Geithner invited greater Arab investment in the US economy, saying that previous blocks to such investment were now no longer an issue.

Obama's Stimulus Plan: Failing by Its Own Measure: When Barack Obama was still President-elect, two of his chief economic advisers — leading proponents of a stimulus bill — predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn't quite worked out that way. Last month, the jobless rate in the U.S. hit 9.5%, the highest level it has reached since 1983.

Goldman Sachs Head To Best Profits Since 2007

Goldman Executives Dumped $700m Of Stock

Madoff Moving To North Carolina Jail

UK Cost Of Living Biggest Drop Since 1948

Britain Finds Itself In Debtors' Prison

BoE Double-Dip Recession Fears

12,000 UK Postal Workers To Strike

Banksters Raise Rates In Mortgage Rip-Off Sheme

US Jobless Rise Hits Migrants Home Countries

Iraq Offers Half Of Nabucco Pipeline Gas

China Widens Rio Spy Probe

McDonald's Euro Head Office To Switzerland

China And Markets Play Inflationary Chicken

Federal Deficit Tops $1 Trillion, $2 Trillion By Fall

CA Bankruptcy May Give US Big Trouble

Barky May Tax Rich To Pay For Healthcare

CA Poised To Shut Down Parks

Goldman Results May Signal Return Of Big Pay

Europe Digs Its Economic Grave

Pensions Experts Predict 'Horrific News' On Funds

UK Govt Has Lost £10.9b On RBS And Lloyds

£1,000 Loss Per Household For Bank Bailouts

Britons To Be Poorer In Coming Decades

Federal Deficit Tops $1 Trillion, $2 Trillion By Fall

Tuesday, July 14, 2009

More economic issues

Budget deficit tops $1 trillion for first time... June budget gap $94.32 billion...

Feds mulling mortgage aid for unemployed...

ZUCKERMAN: The Economy Is Even Worse Than You Think...GOLDMAN executives sold $700m of stock; Selling surge came amid bailout...

Congressman Mark Kirk: China to Buy $80 Billion Worth of Gold

Video

Congressman Mark Kirk explains in detail China's behind the scenes thinking about the dollar. Hint: They are going to buy two Forth Knox's worth of gold. Continue

Crystal Ball Gazing
The Future Is Deflation

By Mike Whitney

The US consumer, long considered an inexhaustible resource, is tapped out. Without job security and access to easy credit; consumer spending will slow, prices will fall, demand will flag and the economy will tank. There won't be a recovery. Continue

"We're The Counterfeiters Of The World"

By Ron Paul - Video

The dollar now is worth 4 cents in comparison to what it was worth in 1913 when the FED was established. Continue

Geithner to Reassure Gulf Allies on Dollar Assets: - Treasury Secretary Timothy Geithner will seek to reassure Gulf Arab states this week that U.S. dollar assets they hold in large quantities remain a strong investment.

CA Bankruptcy May Give US Big Trouble

Barky May Tax Rich To Pay For Healthcare

CA Poised To Shut Down Parks

Goldman Results May Signal Return Of Big Pay

Europe Digs Its Economic Grave

Pensions Experts Predict 'Horrific News' On Funds

UK Govt Has Lost £10.9b On RBS And Lloyds

£1,000 Loss Per Household For Bank Bailouts

Britons To Be Poorer In Coming Decades

Monday, July 13, 2009

More economic issues

This $17 Trillion Divorce Won’t Be a Pretty One: “China is beginning to cancel Congress’s credit card,” he told Fox News on June 10. It “doesn’t want to lend much more money to the United States and especially is worried about the Fed’s policy of printing money to buy new debt.”

Hundreds of Thousands of Workers Will Lose Unemployment Benefits Soon: Workers laid off early in the downturn are soon to be left without the basic sustenance of an unemployment check.

Mortgage defaults spread as even 'safe' borrowers falter: No longer is the real estate bust simply the result of exotic, subprime loans that doubled payments and blew up in homeowners' faces.

Credit Losses Rising Anywhere and Everywhere: The delinquency rate on U.S. mortgages surged to a record 9.12 percent in the first quarter of this year. Late payments rose in ALL categories, including prime fixed-rate loans, the absolute “cream of the crop” in the mortgage world.

AIG Seeks Clearance For More Bonuses: Officials at AIG, whose federal rescue package stands at $180 billion, have been reluctant to move forward without political cover from the government.

Jim Hightower: Big Bankers Mounting Sneak Attack on Consumers: . In June, for example, Bank of America abruptly raised its fee for a basic checking account by 50 percent. Citibank jacked up the interest rate on some of its cards to 29.99 percent. And JPMorgan Chase more than doubled the required minimum payment on its cards.

GM carmaker emerges from bankruptcy: GM has slashed its work force, closed 40 per cent of its dealerships and shed a number of brands.