Friday, May 30, 2008

More economic issues


Americans' Record $4 Gasoline Price Remains Bargain in Europe...
WAL-MART puts squeeze on food costs...
Workers shifting to 4-day week to save gasoline...
REGULATOR PROBES OIL PRICES...
Fed to make fresh batch of bank loans...

...banks likely to fail as bad loans soar

SEC CITES PROFESSOR OF FINANCE FOR INSIDER TRADING...

America's Money: Debt crush: Americans deep in debt are struggling more than ever amid the credit crisis and economic downturn.

Rising Prices Hit Home For Food Stamp Recipients: At a time when food prices are soaring, a growing number of Americans are struggling financially and local social service agencies are seeing record numbers of applicants, advocates are concerned that the purchasing power of food stamps has shrunk since 1996, when Congress recalculated benefit levels.

Food banks face high costs but feeding more people: Like nearly a third of the first 50 customers to arrive at the Emergency Food Bank of Stockton that morning, Hoffman was new to the pantry. But since she lost her sales job at a local newspaper in December, she has not found work in Stockton, which has the highest foreclosure rate in the country and a hurting job market.

Fed Assets Running Dry?

Surviving The Coming Inflationary Debacle

US Home Prices Fall Record 14.1% In 1st Q

US Housing Drops Further - Down 14.4% In March

Germany Joins Call For Oil Speculators BAN

UK House Prices Fall - Buyers /Go On Strike'

George Soros - Rocketing Oil Is A Bubble

EU Trade War With US Looms Over Biofuel

Thursday, May 29, 2008

98 Trillion unfunded DEBT on US Taxpayer - FedReserve Speech

Inflation, US Dollar - No combo of tax hikes & spending cuts, though, will change the total burden borne by current & future generations. For the existing unfunded liabilities (just SS & Medicare) to be covered...someone must pay $99.2 trillion more (68% tax rise) or receive $99.2 trillion less than currently promised. This is a cold, hard fact.

read more | digg story

More economic issues

British PM warns of global oil 'shock'...

OPEC says oil should be $60/$70 barrel...

America's Money: Debt crush: Americans deep in debt are struggling more than ever amid the credit crisis and economic downturn.

Rising Prices Hit Home For Food Stamp Recipients: At a time when food prices are soaring, a growing number of Americans are struggling financially and local social service agencies are seeing record numbers of applicants, advocates are concerned that the purchasing power of food stamps has shrunk since 1996, when Congress recalculated benefit levels.

Food banks face high costs but feeding more people: Like nearly a third of the first 50 customers to arrive at the Emergency Food Bank of Stockton that morning, Hoffman was new to the pantry. But since she lost her sales job at a local newspaper in December, she has not found work in Stockton, which has the highest foreclosure rate in the country and a hurting job market

Fed Assets Running Dry?

Surviving The Coming Inflationary Debacle

US Home Prices Fall Record 14.1% In 1st Q

US Housing Drops Further - Down 14.4% In March

Germany Joins Call For Oil Speculators BAN

UK House Prices Fall - Buyers /Go On Strike'

George Soros - Rocketing Oil Is A Bubble

EU Trade War With US Looms Over Biofuel

Wednesday, May 28, 2008

More Dollar problems

Housing Bailout Bill Creates National Fingerprint Registry

By Declan McCullagh

Buried in the text of the revised legislation, approved by the Senate Banking Committee by a 19-2 vote this week, is a plan to create a new national fingerprint registry. Continue

Germany in call for ban on oil speculation: German leaders are to propose a worldwide ban on oil trading by speculators, blaming the latest spike in crude prices on manipulation by hedge funds.

Time to do something about oil: The oil price rise of more than US$50 per barrel since the US Federal Reserve started cutting interest rates in September is beginning to get serious. Since the rise of oil import prices alone removes $170 billion from the US economy, more than 1% of gross domestic product, it is both inflationary and highly recession-producing, especially since it has been accompanied by similar rises in other commodity prices. Its full effects have not been seen yet but they're coming - don't worry!

Home prices tumbled in first quarter: Decline of 14.1 percent was largest in two decades

Fuel suppliers demand airlines pay cash in advance: Airlines are being forced to pay cash in advance for jet fuel as the major oil companies tighten the screws on an industry that is being crushed by an extraordinary surge in the price of crude oil.

US Home Prices Fall Record 14.1% In 1st Q

US Housing Drops Further - Down 14.4% In March

Germany Joins Call For Oil Speculators BAN

UK House Prices Fall - Buyers /Go On Strike'

George Soros - Rocketing Oil Is A Bubble

EU Trade War With US Looms Over Biofuel

Monday, May 26, 2008

More economic issues

Energy fears looming, new survivalists prepare...

Number Of Unsold Houses Rise To 23-Year High: For single-family homes alone, the inventory rose to 10.7 months’ supply, the highest since 1985. For condos, the inventory of 14.2 months is the highest ever.

UN: Food costs hitting world's poor : Food import costs to the world's poorest nations are set to rise by 40 per cent in 2008 on the previous year, a report by the UN's Food and Agriculture Organisation (FAO) says.

Oil Rises Above $135 After Unexpected Drop in U.S. Inventories: Crude oil rose to a record above $135 a barrel in New York on concern that supplies are inadequate after U.S. stockpiles unexpectedly dropped last week.

Oil execs defend huge profits before Senate: The executives, whose companies reported $36 billion in profits during the first three months of the year, wanted to talk about tight supplies and growing global demand.


US Banking Crisis - Why Banks Are Not Lending

Alaska Drilling Would Only Save 75 Cents A Barrel!

Buffett Sees Long, Deep US Recession

Credit Crisis Hits US Small Businesses

'Safe' Investments Swallowed By Cash Purgatory

US Inflation Understated

Fuel Costs May Force 4-Day Work Week In Long Island -Vid

Friday, May 23, 2008

More Dollar problems

OPEC 'unhappy' with oil price surge...

Chicago Gas Taxes Total Whopping 20%!

High gas prices force cops to walk the beat more...


Oil prices now set for downturn??

FORD cuts truck, SUV production...

UN: Food costs hitting world's poor : Food import costs to the world's poorest nations are set to rise by 40 per cent in 2008 on the previous year, a report by the UN's Food and Agriculture Organisation (FAO) says.

Oil Rises Above $135 After Unexpected Drop in U.S. Inventories: Crude oil rose to a record above $135 a barrel in New York on concern that supplies are inadequate after U.S. stockpiles unexpectedly dropped last week.

Oil execs defend huge profits before Senate: The executives, whose companies reported $36 billion in profits during the first three months of the year, wanted to talk about tight supplies and growing global demand.

Energy Boss Sees Future Scarred By Oil Wars

UK Gas Stations Use 'Stingers' To Combat Theft

Credit Crunch Will Cause Ethnic Violence

Price Of Fuel To Stay High For 8 Years

EU May Curb Citizens Rights To Invest In Markets

Thursday, May 22, 2008

Oil Hits $135 a Barrel Amid Supply Concerns

Oil prices rose above $135 a barrel for the first time Thursday, with supply worries, global demand and an ever weakening U.S dollar driving crude futures up.

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More economic issues

$12 GALLON GAS 'INEVITABLE'...

SUPER SPIKE: OIL $135...

OIL EXECS DEFEND...

AMERICAN to begin charging for first checked bag...

High gas prices drive farmers -- back to mules!

Oil prices now set for downturn??

Top banks call for relaxed writedown rules...

Paying for War at the Pump

By Robert Scheer

McCain’s strategy is clearly that of distracting attention from the calamitous economy by sounding the demagogue’s alarm about enemies at the gate.Continue

$531,472 Per Household: Taxpayers' bill leaps by trillions: "We're running deficits in the trillions of dollars, not the hundreds of billions of dollars we're being told," says Sheila Weinberg, chief executive of the Institute for Truth in Accounting of Chicago.

Fed Lowers Growth Rates - Raises Inflation

Stocks Tumble 227 Points On $133 Oil

Housing Crash May Be Worse Than Great Depression


China Now Exporting Inflation Abroad



Wednesday, May 21, 2008

Do you believe the US government, or your lying eyes?

They can cover up a tremendous amount of shit, but they have gone too far this time. Even people who don't have internet are starting to figure out they're being shafted. Even people who get all their news from Fox are figuring it out. Even people who don't read, watch, or listen to news are figuring it out!

read more | digg story

More Dollar problems


OIL EXECS DEFEND

SPIKE: OIL $132...

Why U.S Gas Prices Went From 90 cents to $4 a Gallon

It's hard to imagine now, but in 1999 gasoline sold for 90 cents a gallon. How'd we get from there to $4 a gallon? There is no short answer - many things happened, and together they formed a chain of events from cheap gas to $100 tankfuls. Prices have surged over the past four years - and there's a bunch of reasons why.

read more | digg story

More economic issues

OIL FUTURES PASS $130 AS FEARS OF SHORTAGES WITHIN FIVE YEARS GROW...

House passes bill to sue OPEC over prices...

The Old Titans All Collapsed. Is the U.S. Next?

By Kevin Phillips

The United States of 2008 is the world's leading debtor, has by far the largest current-account deficit and is the leading importer, at great expense, of both manufactured goods and oil. The potential damage if the world soon undergoes the greatest financial crisis since the 1930s is incalculable. The loss of global economic leadership that overtook Britain and Holland seems to be looming on our own horizon. Continue

Wolfowitz takes helm of US-Taiwan Business Council: He was forced to resign the top World Bank job last June after an internal probe found he violated rules by arranging a lucrative pay-and-promotion package for his girlfriend, a bank employee.

As homes foreclose in U.S., squatters move in: - They enter through a broken first-floor window each night to sleep on a moldy bed in the abandoned four-family house at 827 Main Street, part of a new generation of squatters emboldened by America's housing foreclosure crisis.

Pawn shops busy during hard economic time: Lean economic times mean a steady stream of customers for some businesses. Pawn shops are seeing more and more people who need cash and are willing to part with cherished items to get it.

House passes bill to sue OPEC over oil prices: The House of Representatives overwhelmingly approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices, but the White House threatened to veto the measure.

Iraq May Have World's LARGEST Oil Reserves (Bush Knew)

Bank Of Japan Strikes Pessimistic Note

Oil Crisis Stagflation Spiral Special

American Financial Armageddon

BoE Warns The 'Nice Decade Is Behind Us'

ECB Warns Of 'Very Significant Market Correction'

UK Debt Advice Centers Business Up 500%

Higher '09 Mortgage Rates = Housing Recovery DOA

Oil Sets Record Near $128 - Pump Prices Soar

Tuesday, May 20, 2008

A Secret List of U.S Citizens to Detain Under Martial Law

According to a senior government official who served with high-level security clearances in five administrations, "There exists a database of Americans, who..are considered unfriendly, and who, in a time of panic might be incarcerated. The database can identify and locate perceived 'enemies of the state' almost instantaneously."

read more | digg story

More economic issues

Opec says oil could hit $200...

USA begins to break foreign oil 'addiction'; First major cut to imports since 1977...

For Profit

By Malcolm Martin

The US government has been hollowed out during the rise to absolute power of the corporations. Elections have become an elaborate “reality show” that plays out on corporate television for viewers entertainment. Continue



US-Led Capitalist System Headed for Collapse?
Syed Rashid Husain

As much as 60 percent of today’s crude oil price is pure speculation driven by large trader banks and hedge funds. It has nothing to do with the convenient myths of Peak Oil. It has to do with control of oil and its price.
Continue

UK: House price crash warning: Mr Miles, chief UK economist for investment bank Morgan Stanley, believes that more than half of the rise in house prices has been fuelled by the speculation that prices would continue to rise rapidly.

What’s next for the economy? Look at California: Tough times in world's seventh largest ecomomy: consumer spending down, unemployment up, municipalities going bust

BoE Warns The 'Nice Decade Is Behind Us'

ECB Warns Of 'Very Significant Market Correction'

UK Debt Advice Centers Business Up 500%

Higher '09 Mortgage Rates = Housing Recovery DOA

Oil Sets Record Near $128 - Pump Prices Soar

Monday, May 19, 2008

Bush Would Be First President To Veto Benefits for Troops

No president in history has vetoed a benefits bill for those who served. … The Republican party is on the block here, to clearly demonstrate that they value military service or suffer the consequences of losing the support of people who’ve served. … The president has a choice here to show how much he values military service.

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More economic issues

Bush warns Arab Leaders: You're running out of oil...

Congress approves $290bn farm bill: Despite pleas from humanitarian groups to focus on the global food crisis, the US Congress today approved a $290bn bill that gives lucrative subsidies to farmers and cuts international aid programmes

Bill ignores global food crisis: A five-year farm bill in Congress this week does little to address the growing global food crisis. Instead diverts money that could be spent feeding poor children abroad to give more subsidies to U.S. farmers enjoying record-high crop prices and incomes, critics say.

Solving the food crisis: A comprehensive global plan is needed to tackle the high cost of food that threatens the lives of the world's poorest and most vulnerable people


UK Debt Advice Centers Business Up 500%

Higher '09 Mortgage Rates = Housing Recovery DOA


Oil Sets Record Near $128 - Pump Prices Soar


Friday, May 16, 2008

Denver Lights This weekend.

Sometime this weekend there will be unexplained light over Denver. Look for them!!!

More economic issues

Fed's Direct Loans to Banks Climb to Record Level...

Senators Warn Global Warming Bill Could Spike Gas $1.50 to $5 a Gallon...

Congress to Saudis: Give Us Oil or No Guns: A group of Democratic senators wants to make a massive arms sale to Saudi Arabia contingent on getting cheaper oil, reports AFP. "We are saying to the Saudis that, if you don't help us, why should we be helping you?" says Chuck Schumer, a Democratic senator from New York.

Thursday, May 15, 2008

More economic issues

FEEL NO PAIN: INFLATION 'EASES' AS FOOD PRICES JUMP MOST IN 18 YEARS...

Student Loans Crunch Starves Greedy Colleges

By Ted Rall

Student loans are a big segment of the banking industry, amounting to about $85 billion last year. Until recently, they were also hugely profitable. But the credit crunch has caused some lenders to pull out of the federal program. As a result, the pool of money for college loans available has fallen 13 percent. Continue



'The Bread You Possess Belongs to the Hungry'

By St. Basil
Bishop of Caesarea in the 4th century

They first took possession of the common property, and then they keep it as their own because they were the first to take it. If one had taken what is necessary to cover one’s needs and had left the rest to those who are in need, no one would be rich, no one would be poor, no one would be in need. Continue

US ; Foreclosures Climb 65%: U.S. foreclosure filings climbed 65 percent and bank seizures more than doubled in April from a year earlier as mortgage industry efforts to modify loans fell short.

Inflation Data Show Food Prices Soaring: The Consumer Price Index increased at an annualized rate of 7.2% in April, before seasonal adjustments, the Labor Department is reporting. However, food prices climbed at annualized rate of 10.8% in the month of April.

US Foreclosure Filings Surge 65% In April

Did Bear Stearns Fall...Or Was It Pushed?

CitiGroup Is BEYOND REPAIR - New York Post

US Heading For Double-Digit Inflation

UK Expects Homes To Drop 5-10% In 2008

UK Fuel Costs Soar - Inflation Up 3%

Americans Sell Personal Possessions For Cash

UK Mortgage Lending Worst In 30 Years

Royal Dutch Shell Pulls Out Of $10B Iran Project

Wednesday, May 14, 2008

Charts from the FED.

fedcharton fedcharttw

More economic issues

UPDATE: Home Prices Decline in Two-Thirds of Cities; Foreclosures Increase...

UK: Housing market worst for 30 years: Confidence in Britain's housing market has sunk to its lowest level for more than 30 years, figures to be published today will reveal, as property prices continue to fall and mortgage lenders restrict home loan finance.

JPMorgan Chase CEO: Recession Just Beginning: JPMorgan Chase & Co.'s chief executive said Monday that while the crisis in the credit markets appears to be three-quarters over, he believes a U.S. recession is just beginning.


US Heading For Double-Digit Inflation

UK Expects Homes To Drop 5-10% In 2008

UK Fuel Costs Soar - Inflation Up 3%

Americans Sell Personal Possessions For Cash

UK Mortgage Lending Worst In 30 Years


Royal Dutch Shell Pulls Out Of $10B Iran Project



FEEL NO PAIN: INFLATION 'EASES' AS FOOD PRICES JUMP MOST IN 18 YEARS...

Oil steady after record near $127...




Monday, May 12, 2008

JPMorgan Chase CEO: recession is just beginning

JPMorgan Chase & Co.'s chief executive said Monday that while the crisis in the credit markets appears to be three-quarters over, he believes a U.S. recession is just beginning. ..... said CEO James Dimon, whose bank saw its first-quarter profit fall by half due to the recent collapse of the U.S. mortgage market. "The recession just started."

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More economic issues

MONDAY: Oil steady above $126...

BANK ORDERED CLOSED IN BENTONVILLE...

Ecuador president has 'no confidence' in World Bank arbitration arm: Ecuador handed over its sovereignty when it signed international accords binding it to the bank's International Center for Settlement of Investment Disputes, Correa said during his weekly radio address.

Wal-Mart Cuts Way Back - Arkansas Bank Fails

Oil Passes $126 - Gas Surges To $3.67

Oil And Corn Hit Record Highs

Wednesday, May 07, 2008

The Fed has Sold Half of all US Gold to Suppress Gold Prices

"the gold price suppression scheme was the cornerstone of Secretary Treasury Robert Rubin's 'strong dollar' policy", and "Treasury Secretary Paulson, a key member of the President's Working Group on Financial Markets (popularly known as the Plunge Protection Team)" who chillingly said, "The United States will do what it takes to calm markets"

read more | digg story

More economic issues

$200 OIL PREDICTION ROCKS MARKET...

Barrel hits $123...

NEW RECORD HIGH...

Frustrated drivers try to sell their gas-guzzlers...


Mortgage crisis 'threat to economy' : Ben Bernanke, chairman of the US central bank, has said that the rising cases of late mortgage payments and home foreclosures pose considerable dangers to the US economy.

Government would take control of refinanced loans under Democrats' housing bills: The House of Representatives will take up legislation Wednesday that would broadly address the nation's housing crisis and could have the government assume control of up to $300 billion in refinanced home loans to be given to distressed homeowners.


US Housing Woes Deepen

Fannie Registers Bigger Loss Than Expected

UBS To Cut 5,500 Jobs After $11 Billion Loss

Has Europe Declared War On The Dollar?

Oil Hits $121 As Goldman Warns Of $200 peak

UK Repossessions Set For Dramatic Rise

Buffett Backs Fed Over Bear Stearns

Anger As Diesel Hits $11.30 On Scottish Island


Central Banks Pump $82B More Into Banking System


Tuesday, May 06, 2008

More economic issues

$200 OIL PREDICTION ROCKS MARKET

Swiss Bank UBS reports $11 billion loss...

Bernanke urges more action to stem home foreclosure crisis...

Oil hits $122...

NEW RECORD HIGH...

Frustrated drivers try to sell their gas-guzzlers...

Gambling revenues, hotel occupancy down in Vegas...

Casino operator TROPICANA files for bankruptcy protection...


Oil MUST of the Market - No more traiding Oil

The time has come to remove Oil from the Market, there is just to much Speculations, about 50-60$ is just speculations with no reasons. The Oil Companies love it.

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200 Economists Denounce Clinton/McCain Gas Tax Plan

That Clinton would engage in this type of pure political pandering is not surprising. It’s just another last-ditch effort that exemplifies the kind of same old Washington gamesmanship that we need to change. This may well be the most irresponsible policy idea of the year. How stupid do they think we are?

read more | digg story

More economic issues

Bernanke urges more action to stem home foreclosure crisis...

ClintonMcCain Gasoline-Tax Plans Denounced by More Than 200 Economists...
Oil nears $121 barrel...

NEW RECORD HIGH...

Gambling revenues, hotel occupancy down in Vegas...

PAPER: Casino operator TROPICANA expected to file for bankruptcy protection...

RED INK: Chief executive of RANDOM HOUSE to step down...

UK Repossessions Set For Dramatic Rise

Buffett Backs Fed Over Bear Stearns

Anger As Diesel Hits $11.30 On Scottish Island


Central Banks Pump $82B More Into Banking System


Monday, May 05, 2008

Wall Street, Lenders Face New Subprime Probe: WSJ

The Fed is forcing BAC to buy CFC to protect the financial markets.

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More economic issues

Buffett Says Worst of Crisis Over for Wall Street, Individuals May Suffer...

US Federal Reserve and European Central Bank pump an extra $82bn into banking system: The Fed and the ECB lined up with the Swiss National Bank (SNB) to mount a third phase of joint operations to curb the transatlantic credit squeeze endangering the world economy

Chevron Posts $5.17 Billion Profit : Chevron Corp.'s first-quarter earnings echoed a theme set earlier this week by other international oil companies: soaring crude prices are pumping up profits to astronomical levels.

$150 Billion and Counting: Federal Reserve Announces Another Increase In Its Treasury Auction Facility: The housing finance bailout continues. - Here’s the global angle to the junk buying binge:.

UK Repossessions Set For Dramatic Rise

Buffett Backs Fed Over Bear Stearns

Anger As Diesel Hits $11.30 On Scottish Island

Central Banks Pump $82B More Into Banking System

Fed Joins With EU Banks To Battle Credit Crisis

BoE 'Too Upbeat' On Credit Crisis - Citigroup

UK House Values Dropping $1000 A Week

UK Truckers Blockage Oil Refinery In Protest

Illuminati - More Chaos Than Order?

$6 TRILLION In US Housing Wealth Lost So Far

Goldman - Credit Crash Will Hit UK Worst

Sleepwalking Toward The Oil Chasm

US Housing Prices Post Record Declines - Chart

UK House Prices 1st Annual Fall In 12 Years

US Woes 'Pushing UK Into Spiral Of Decline'

Citi Seeks An Extra $3 Billion


BoE Chief - Banks Paying Price For Greed