Saturday, August 30, 2008

more economic troubles.

IT'S FRIDAY... ANOTHER BANK FAILS

BANK OF NY MELLON data breach affects 12.5 million...

Super Imperialism

Mike Whitney Interviews Michael Hudson

"Dollar hegemony enables the US to own indirectly but essentially the entire global economy by requiring its wealth to be denominated in fiat dollars that the US can print at will with little in the way of monetary penalties. Continue


Bank of China flees Fannie-Freddie

By Saskia Scholtes in New York and James Politi in Washington

Bank of China has cut its portfolio of securities issued or guaranteed by troubled US mortgage financiers Fannie Mae and Freddie Mac by a quarter since the end of June. Continue

U.S., Europe, Japan Devised Plan to Prop Up Dollar, Nikkei Says: Finance officials from the U.S., Japan and Europe in mid-March drew up plans to strengthen the U.S. dollar following troubles at Bear Stearns Cos., Nikkei English News reported, citing unnamed sources.

FDIC announces 10th bank failure of the year: Georgia's Integrity Bank is closed by state regulators. FDIC is named receiver and branches will reopen as Regions Bank.

Another Friday, Another Bank Fails

UK Unemployment 2 Million By Christmas?

Credit Crunch - 'Just The End Of The Beginning'

Economic Depression - Who Will Suffer Least?

New Credit Hurdle Looms For Banks

World's Largest Gold Refiner Runs Out

Is Your Bank About To Implode?

FDIC Will Need Half A TRILLION Dollars

Surge In US Foreclosures Spreads Past Subprimes

ConocoPhillips Sells Its 600 Gasoline Stations

How Nixon 'Goldfingered' The World - Part 1

US Dems Should Read American Monetary Act

US War-Mongering In Georgia

Massive Gold Price Manipulation In The US?

Fannie PR - Moving The Deck Chairs On The Titanic

FDIC - 117 Banks In Trouble

US House Prices Fall Record 15%

The US Is The Next Argentina

Stagflation Becoming Economic Reality

UK Idiotic Tax Policy Demolishes Properties

UK Builder Takes $3B Loss As Values Slashed

FDIC Admits Short-Term Loans Might Be Needed

FHA Lending - Next Disaster...A Work In Progress

Laughable Efforts To Save Citi The Needed Billions?

Good News - Fannie, Freddie Safe Till Year End

Global Consensus On Trade Unravelling

UK Mrtge Approvals Down 65% In Year

Beijing Swells Dollar Reserves Thru Stealth

US $ Supply - Sharpest Contraction In Mod History

FBI/DoJ Saw Mtge Crisis Coming

Rapid Dollar Rise May Endanger US, World Econ

Gold - The Good News And The Bad

Buffett - 'Game Over For Freddie & Fannie

American Real Estate Crash - Slideshow

Gold Reserves More Important Than Ever

Friday, August 29, 2008

Deficit Grows Ever Larger

On July 28, White House Budget Director Jim Nussle announced that the expected deficit for Fiscal Year 2009 (it begins October 1, 2008) would be a whopping $482 billion. A record for red ink, the figure shatters the previous deficit of $413 billion set in 2004.

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more economic troubles.

U.K. Nationwide House Prices Drop Most Since 1990: U.K. house prices declined at the fastest annual pace in almost two decades in August after lower mortgage lending and the prospect of a recession discouraged home buyers, Nationwide Building Society said.

Bankruptcy Filings Surge 29%: Total filings rose to 967,831 from 751,056 a year earlier.

U.S. Says Banks on `Problem List' Rose 30% in Quarter: The U.S. Federal Deposit Insurance Corp. said its ``problem list'' of banks increased 30 percent in the second quarter to the highest total in five years as more commercial real-estate loans were overdue.

FDIC Is Broke? Report: FDIC May Borrow Money From Treasury: The Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported.

Analyst: FDIC Will Need Half A Trillon Dollars: Chris Whalen, managing director of Institutional Risk Analytics, in an interview on CNBC, said: They need about a half a trillion dollars in borrowing authority, and they need a vehicle to own these banks while we triage them and sell them.

New Credit Hurdle Looms For Banks

World's Largest Gold Refiner Runs Out

Is Your Bank About To Implode?

FDIC Will Need Half A TRILLION Dollars

Surge In US Foreclosures Spreads Past Subprimes

ConocoPhillips Sells Its 600 Gasoline Stations

How Nixon 'Goldfingered' The World - Part 1

US Dems Should Read American Monetary Act

US War-Mongering In Georgia

Massive Gold Price Manipulation In The US?

Fannie PR - Moving The Deck Chairs On The Titanic

FDIC - 117 Banks In Trouble

US House Prices Fall Record 15%

The US Is The Next Argentina

Stagflation Becoming Economic Reality

UK Idiotic Tax Policy Demolishes Properties

UK Builder Takes $3B Loss As Values Slashed

FDIC Admits Short-Term Loans Might Be Needed

FHA Lending - Next Disaster...A Work In Progress

Laughable Efforts To Save Citi The Needed Billions?

Good News - Fannie, Freddie Safe Till Year End

Global Consensus On Trade Unravelling

UK Mrtge Approvals Down 65% In Year

Beijing Swells Dollar Reserves Thru Stealth

US $ Supply - Sharpest Contraction In Mod History

FBI/DoJ Saw Mtge Crisis Coming

Rapid Dollar Rise May Endanger US, World Econ

Gold - The Good News And The Bad

Buffett - 'Game Over For Freddie & Fannie

American Real Estate Crash - Slideshow

Gold Reserves More Important Than Ever

Thursday, August 28, 2008

Bell Labs Kills Fundamental Physics Research

After six Nobel prizes, the invention of the transistor, laser and countless contributions to computer science and technology, it is the end of the road for Bell Labs' fundamental physics research lab.

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AT&T Throws Exclusive Party For Dems Who Helped Get Immunity

The telecommunications giant AT&T is “virtually everywhere” at the Democratic convention this week, “wining and feeding delegates and members of Congress with a relentless schedule of luncheons and evening celebrations.” The Texas-based company threw a special party outside the Mile High Station for its biggest supporters

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McCain and Obama Miss Filing Deadline in Texas (Seriously!)

Richard Winger’s Ballot Access News reports that Democrats and Republicans have missed the August 26th deadline to place a presidential candidate on the ballot in Texas. According to the Texas Secretary of State website, Bob Barr and Wayne Allyn Root are the only candidates for president and vice-president that will appear on the ballot in Texas

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FDIC may borrow money from Treasury: report

(Reuters) - Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported. The borrowing could be needed to cover short-term...

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ABC Reporter Arrested in Denver Tracing the Money Trail

DNC and their lobbyist circumvent the "People's right to Know" who is giving what favors to whom?

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Yellowstone's Ancient Supervolcano: Only Lukewarm?

The geysers of Yellowstone National Park owe their existence to the "Yellowstone hotspot"--a region of molten rock buried deep beneath Yellowstone, geologists have found. But how hot is this "hotspot," and what's causing it?

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More economic issues

Oil rises above $119...

Brazil seeks billions in trade sanctions from US: Brazil plans to ask the World Trade Organization to impose punitive sanctions worth billions of dollars against the United States for handing out illegal cotton subsidies, its foreign minister said Wednesday.

US War-Mongering In Georgia

Massive Gold Price Manipulation In The US?

Fannie PR - Moving The Deck Chairs On The Titanic

FDIC - 117 Banks In Trouble

US House Prices Fall Record 15%

The US Is The Next Argentina

Stagflation Becoming Economic Reality

UK Idiotic Tax Policy Demolishes Properties

UK Builder Takes $3B Loss As Values Slashed

FDIC Admits Short-Term Loans Might Be Needed

FHA Lending - Next Disaster...A Work In Progress

Laughable Efforts To Save Citi The Needed Billions?

Good News - Fannie, Freddie Safe Till Year End

Global Consensus On Trade Unravelling

UK Mrtge Approvals Down 65% In Year

Beijing Swells Dollar Reserves Thru Stealth

US $ Supply - Sharpest Contraction In Mod History

FBI/DoJ Saw Mtge Crisis Coming

Rapid Dollar Rise May Endanger US, World Econ

Gold - The Good News And The Bad

Buffett - 'Game Over For Freddie & Fannie

American Real Estate Crash - Slideshow

Gold Reserves More Important Than Ever

Wednesday, August 27, 2008

Ron Paul was right again!!! Maybe we should have listened!!!

Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported.

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Financial Crisis Absent From Agendas of Parties, Candidates

Aug. 27 (Bloomberg) -- The U.S. is facing the worst financial crisis since the Depression. You would never know that from the Democrats' platform in Denver or its Republican counterpart, or from listening to Barack Obama or John McCain.

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FDIC may run out of money, overwhelmed by bank failures.

Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported.

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With Wall Street Slowing, Uncertainty Descends - NY Times

The city comptroller, William C. Thompson Jr., had been forecasting a general slowdown this year after three years of steady growth. But now Frank Braconi, the chief economist in the comptroller’s office, says he is not yet sure whether the troubles in the financial markets will turn into “something worse than we were predicting.”

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Bank Details of 1 Million Customers Sold on eBay

Personal details of more than 1 million customers of Royal Bank of Scotland, American Express and NatWest are found on a computer sold on auction site eBay.

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White House Cannot Delay In Complying With Subpoenas

WASHINGTON — A federal judge who ruled last month that top White House advisers must comply with congressional subpoenas refused to put that ruling on hold Tuesday while the Bush administration appeals.

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More economic issues

TIGHT: CITIGROUP Will Ban Off-Site Meetings, Limit Color Photocopies to Cut Costs...

Home prices drop by sharpest rate ever...

Rich Countries Once Used Gunboats to Seize Food.

Now They Use Trade Deals

By George Monbiot

The world's hungriest are the losers as an old colonialism returns to govern relations between wealthy and poor nations Continue

Home prices drop by record amount in 2Q: The 20-city index fell by 15.9 percent in June compared with a year ago, the largest drop since its inception in 2000. The 10-city index plunged 17 percent, its biggest decline in its 21-year history.

FHA Lending - Next Disaster...A Work In Progress

Laughable Efforts To Save Citi The Needed Billions?

Good News - Fannie, Freddie Safe Till Year End

Global Consensus On Trade Unravelling

UK Mrtge Approvals Down 65% In Year

Beijing Swells Dollar Reserves Thru Stealth

US $ Supply - Sharpest Contraction In Mod History

FBI/DoJ Saw Mtge Crisis Coming

Rapid Dollar Rise May Endanger US, World Econ

Gold - The Good News And The Bad

Buffett - 'Game Over For Freddie & Fannie

American Real Estate Crash - Slideshow

Gold Reserves More Important Than Ever



Tuesday, August 26, 2008

McCain's Bold Stand Against Global Cooperation

"Why would a man running to be Leader of the Free World publicly reject the notion of international cooperation on global challenges?"

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Mushroom Clouds in Our Future

Paul Craig Roberts - Unless Americans can turn out the imbecilic Republicans and hold the neoconservatives accountable for their crimes against humanity, a neocon U.S. government will provoke nuclear war with Russia.The neoconservatives represent the greatest danger ever faced by the United States and the world. Humanity has no greater enemy.

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Fannie, Freddie Failure Would Be World 'Catastrophe'

A failure of U.S. mortgage finance companies Fannie Mae and Freddie Mac could be a catastrophe for the global financial system, said Yu Yongding, a former adviser to China's central bank. "If the U.S. government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic," Yu s

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More economic issues

Home prices drop by sharpest rate ever...
TIGHT: CITIGROUP Will Ban Off-Site Meetings, Limit Color Photocopies to Cut Costs...
Oil Soars Above $117 As Gustav Strengthens...
China buys up dollars - on the quiet...

Log from Blammo

More economic issues

UK: Banks 'use credit crunch to milk borrowers of £3bn': Banks were accused of 'milking' nearly £3billion extra cash from homeowners and blaming the credit crunch.

Lone accountant takes on IRS and wins: It took seven years, but Charles Ulrich did something many people dream about, but few succeed at: He beat the IRS in a tax dispute. Not only that, but tax experts say potentially millions of other taxpayers could benefit from his victory.

Auto industry seeks $50B in loans from Congress: Low interest loans would be used to help them modernize the industry's assembly plants and develop next-generation fuel-efficient vehicles.

The big secret in U.S. housing : Taxpayers need answers if billions are to be required in a potential crisis or if Congress and Treasury plan to maintain Fannie and Freddie in their present form. Yet debate in the campaign is negligible.

US $ Supply - Sharpest Contraction In Mod History

FBI/DoJ Saw Mtge Crisis Coming

Rapid Dollar Rise May Endanger US, World Econ

Gold - The Good News And The Bad

Buffett - 'Game Over For Freddie & Fannie

American Real Estate Crash - Slideshow

Gold Reserves More Important Than Ever

Monday, August 25, 2008

Include Barr, Nader in presidential debates

Among independents, sentiment for a third or fourth point of view in the televised debates runs strong: 69% say Barr should share the stage with McCain and Obama. The younger the voter, the more support there is for hearing what Bob Barr has to say.

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Biden dislikes File Sharing, Net Neutrality and Encryption!!

Maybe you don't care about the doings in Washington, but you may want to know that Biden considers a lot of what you do care about criminal activity.

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The Trillion Dollar Meltdown

The subprime crisis was purely a Wall Street invention. Nobody seemed to care that most of them could never be repaid; the focus was just on the fees. It’s not much different from what happened with the infamous “investment trusts” that National City and other big banks were flogging in the late 1920s.

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Bob Barr: No war for Georgia

President Bush is sending U.S. soldiers to Georgia under the banner of providing humanitarian assistance, placing American forces in an unsettled war zone that clearly risks involving the U.S. in a confrontation with Russia. He also continues to press for Georgia's membership in NATO, thereby waiving a red flag in Moscow's face.

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Ron Paul: Government Can't Protect People From Themselves

Imagine McCain or Obama fielding these sorts of questions from a reporter. I think they would be liable to storm out of the room and become visibly upset with the very notion of legalized drugs or prostitution. Instead, Ron delivers a reasonable and measured approach that includes some function of useful government - such as protecting children.

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George Bush Jr. and WMDs in IRAQ

An analysis of applied ethical standards in government communication. A good read, yet scholarly approach to the Bush administrations communication regarding WMDs in Iraq prior to the invasion of Iraq.

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Quantum Weirdness: Two Times Zero Doesn't Always Equal Zero

Researchers think they can extract quantum information from two noisy channels that are individually useless

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More Dollar issues

Feds close bank in Kansas; ninth collapse this year...

HSBC continues recovery after computer problem...

The Great Consumer Crash of 2009

By James Quinn

For the last seven years the American consumer has carried the weight of the world on its shoulders. This has been a heavy burden, but when you take steroids it doesn’t seem so heavy. The steroid of choice for the American consumer has been debt. We have utilized home equity loans, cash out refinancing, credit card debt, and auto loans to live above our means. It has been a fun ride, but the ride is over. We can’t get steroids from our dealer (banks) anymore. Continue

Immigrants Returning to Mexico in Record Numbers: Immigrants are returning home to Mexico in numbers not seen for decades — and the Mexican government may have to deal with a crush on its social services and lower wages once the immigrants arrive.

The Great Consumer Crash of 2009: For the last seven years the American consumer has carried the weight of the world on its shoulders. This has been a heavy burden, but when you take steroids it doesn’t seem so heavy. The steroid of choice for the American consumer has been debt. We have utilized home equity loans, cash out refinancing, credit card debt, and auto loans to live above our means. It has been a fun ride, but the ride is over. We can’t get steroids from our dealer (banks) anymore.

US regulators shut Columbian Bank in Kansas: The FDIC said the bank's deposits will be assumed by Citizens Bank and Trust of Chillicothe, Mo. Its nine offices will reopen Monday as branches of Citizens Bank. Depositors of Columbian Bank will continue to have full access to their deposits, the agency said. It was the ninth failure this year of an FDIC-insured bank.

Freddie, Fannie Failure Could Be World `Catastrophe,' Yu Says: A failure of U.S. mortgage finance companies Fannie Mae and Freddie Mac could be a catastrophe for the global financial system, said Yu Yongding, a former adviser to China's central bank. ``If the U.S. government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic,''

What Will Mac ’n’ Mae Cost You and Me?: These government-sponsored entities guarantee or hold $5.2 trillion in mortgages and have been hammered by defaults across the nation. Fannie Mae’s shares closed on Friday at $5, down from almost $70 a year ago. Freddie Mac fell to $2.61, which is down from about $65. Their heavily leveraged balance sheets magnify even a small rise in delinquencies.

Buffett - 'Game Over For Freddie & Fannie

American Real Estate Crash - Slideshow

Gold Reserves More Important Than Ever

Imminent Bank Failures- Worst Yet Come

Lehman, Treasury, Fed Lose Control

The Real US Dollar Crisis Is Ahead

Another Friday, Another Bank Closing

Buffett - For Fannie/Freddie `Game Is Over'

End Of Intl Financial System If Freddie/Fannie Fail

The Great Consumer Crash Of 2009

Recession Fear For Half The Planet - Goldman Sachs

Sunday, August 24, 2008

Regulators close Kansas bank

State and Federal regulators shut down Colombian Bank and Trust of Topeka, Kan. -- the ninth bank to fail so far this year and the fifth since mid-July.

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John McCain's Secretive Plan to "Kill the UN"

Does John McCain have a "hidden agenda" to "kill the UN?" That's what the man who devised McCain's big set-piece foreign policy proposal says -- and he's delighted it is sailing silently through the presidential election campaign towards success.

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U.S Veteran Placed on Terror List for Converting to Islam

Scherfen served in the U.S. military for 13 years, as an Army infantryman in the first Gulf War and then as a helicopter pilot in the National Guard. Scherfen is a convert to Islam. His wife emigrated from Pakistan when she was 17 and is now a U.S. citizen. As a result of their Muslim faith, he was placed on a U.S terror watch list.

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US ship in Georgia - A war in the making ? Hope not

US Navy ship arrives in Georgia - Explanation: "Humanitarian Aid". Could this turn into an ally power and ultimately a new disagreement? Hope not.

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more economic troubles.

Feds close bank in Kansas; ninth collapse this year...
HSBC continues recovery after computer problem...



Criminals dumping weak US dollar for euro...

The Great Consumer Crash of 2009

By James Quinn

For the last seven years the American consumer has carried the weight of the world on its shoulders. This has been a heavy burden, but when you take steroids it doesn’t seem so heavy. The steroid of choice for the American consumer has been debt. We have utilized home equity loans, cash out refinancing, credit card debt, and auto loans to live above our means. It has been a fun ride, but the ride is over. We can’t get steroids from our dealer (banks) anymore. Continue

The Great Consumer Crash of 2009: For the last seven years the American consumer has carried the weight of the world on its shoulders. This has been a heavy burden, but when you take steroids it doesn’t seem so heavy. The steroid of choice for the American consumer has been debt. We have utilized home equity loans, cash out refinancing, credit card debt, and auto loans to live above our means. It has been a fun ride, but the ride is over. We can’t get steroids from our dealer (banks) anymore.

US regulators shut Columbian Bank in Kansas: The FDIC said the bank's deposits will be assumed by Citizens Bank and Trust of Chillicothe, Mo. Its nine offices will reopen Monday as branches of Citizens Bank. Depositors of Columbian Bank will continue to have full access to their deposits, the agency said. It was the ninth failure this year of an FDIC-insured bank.

Freddie, Fannie Failure Could Be World `Catastrophe,' Yu Says: A failure of U.S. mortgage finance companies Fannie Mae and Freddie Mac could be a catastrophe for the global financial system, said Yu Yongding, a former adviser to China's central bank. ``If the U.S. government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic,''

What Will Mac ’n’ Mae Cost You and Me?: These government-sponsored entities guarantee or hold $5.2 trillion in mortgages and have been hammered by defaults across the nation. Fannie Mae’s shares closed on Friday at $5, down from almost $70 a year ago. Freddie Mac fell to $2.61, which is down from about $65. Their heavily leveraged balance sheets magnify even a small rise in delinquencies.

Gold Reserves More Important Than Ever

Imminent Bank Failures- Worst Yet Come

Lehman, Treasury, Fed Lose Control

The Real US Dollar Crisis Is Ahead

Another Friday, Another Bank Closing

Buffett - For Fannie/Freddie `Game Is Over'

End Of Intl Financial System If Freddie/Fannie Fail

The Great Consumer Crash Of 2009

Recession Fear For Half The Planet - Goldman Sachs

Friday, August 22, 2008

The Great Consumer Crash of 2009

I hate to tell you, but the storm has reached your location and it is a Category 5 hurricane. The levees are leaking. Ignore it at your own peril. The 6,000 sq ft McMansion buying, BMW leasing, $5 Starbucks latte drinking, granite countertop upgrading, home equity borrowing days are coming to an end.

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FEC gives McCain a free pass to break the laws of the land.

The Beach Banter goes off on the FEC allowing McCain to break a bunch of election laws in his bid for the nomination of the Republican party for 2008.

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More Dollar issues

Bernanke says 'financial storm' not yet subsided...

...most challenging 'in memory'

YOU can Recover White House Email (and maybe put Bush away!)

The White House is missing as many as 225 days of e-mail dating back to 2003. The nine-page outline of the White House's e-mail problems invites companies to bid on a project to recover the missing electronic messages.

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Ruling protects mann who sells "Bush Lied-They Died" shirts

Using the law to prosecute Dan Frazier would violate the Flagstaff man's First Amendment rights because his "Bush Lied — They Died" shirts are "core political speech."

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4 Things That We Can Do to Fix Our National Debt

We the people have a responsibility to ourselves and to our future to fix our country's current financial inadequacies now, while the possibility to do so remains realistic. It's not a Republican thing or a Democrat thing, it's our thing. Here is what you and I can actually do...

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More economic issues

'America's Outrageous War Economy!'

Pentagon can't find $2.3 trillion, wasting trillions on 'national defense'

By Paul B. Farrell

Yes, America's economy is a war economy. Not a "manufacturing" economy. Not an "agricultural" economy. Nor a "service" economy. Not even a "consumer" economy. Continue

Depression Two - Not Goimg Exactly As Planned

Russia Comments On Its Fannie/Freddie Holdings

Lehman Cash Call 'Shunned' By China, Korea

China Passes US As Japan's Biggest Customer

Fannie And Freddie Hit On Bailout Fears

UK House Builder Profits Slump 64%

Brits Demand 20% House Discounts As Market Sinks

Goodyear To Close 92 Stores, Cut Jobs

World Markets Fall Sharply Amid More Fears

Goldman Sachs Wants To Cannibalize Citigroup

US Factory Prices Rise Fastest In 27 years

US Money Supply And Bond Market Black Hole

US M3 Points To Deflation

Thursday, August 21, 2008

McCain's Secretive Plot to 'Kill the UN' by Krauthammer

Charles Krauthammer, the conservative Wash Post writer, who invented the plan, says: "What I like about it is, it's got a hidden agenda. It looks as if it's about listening and joining with allies... except the idea here, which McCain can't say but I can, is to essentially kill the UN to create an alternative to legitimize Military actions."

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Fed. agency: 'New phenomenon' caused WTC 7 collapse

Metal expanding due to heat -- aka "thermal expansion" -- is a "new phenomenon," according to the National Institute of Standards and Technology. Yet their report on how World Trade Center 7 mysteriously collapsed is drawing criticism from a large group of professional architects and engineers, who want to know what the agency is covering up.

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"Whether Obama wins or McCain wins, policies won't change."

"Paul has not endorsed another candidate and says his supporters "should do whatever they want." But at a party the night before a recent rally in Washington, he said, "The contest is to get as many votes as we can to not support the two major candidates." Electing a third-party candidate "would be the best thing for the country," Paul said.

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Banks May Have Lost $500 Billion In Credit Crisis

Remember when everyone gasped in astonishment when Fed Chairman Ben Bernanke said that total losses from the credit crisis could eventually sum to a whopping $100 billion? Sadly, those were the good old days.

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Ron Paul: physical opposition to gov may become necessary

Paul says physical action such as nonviolent protest may become necessary to preserve the republic.

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U.S. economy hit by surging inflation

Wholesale inflation soared in July, leaving U.S. prices rising at the fastest pace in nearly three decades. While recent declines in oil and other commodity prices raise hopes inflation may have peaked, some economists worry about the widespread nature of the July price surge and caution it will take more time for that pressure to ease on Wall St.

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Political outrage! Bob Barr wants in on the debates

Diversity of opinion? In America? Next thing they'll want to count every vote too

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More economic issues

Healthcare and Bankruptcy

Harvard Law Professor Elizabeth Warren discussing the statistical links between health care and bankruptcy.

6 Minute Video

75% of the families who ended up in bankruptcy in the aftermath of a serious medical problem had health insurance at the onset of the illness. Continue

Large U.S. Bank Collapse Seen Ahead

By Jan Dahinten

The worst of the global financial crisis is yet to come and a large U.S. bank will fail in the next few months as the world's biggest economy hits further troubles, former IMF chief economist Kenneth Rogoff said on Tuesday. Continue


Exclusive Interview:

Jim Rogers Predicts Bigger Financial Shocks Loom

Fueling a Malaise That May Last for Years

By Keith Fitz-Gerald

Rogers talked extensively about the ill-advised bailouts of Bear Stearns, Fannie Mae and Freddie Mac, and the potentially ruinous fallout from the financial “Super Crash” that’s about to engulf the U.S. market. Continue


The Greenback Blues:

Something's Gotta Give

By Mike Whitney

Don't be fooled, most paper money is steadily losing value due to the wild expansion of credit which started at the Federal Reserve. Continue

Wholesale inflation surged in July: Prices for past year rising at fastest pace in 27 years

Fannie Mae, Freddie Mac Are Pounded: Share prices of Fannie Mae and Freddie Mac plunged Monday amid growing fears that the two largest providers of funding for U.S. home mortgages won't be able to avoid a government bailout.

Families forced to let homes they cannot sell: The seizure in the housing market is forcing families who cannot sell their properties to let them and move to rented accommodation, a new survey suggests.

World Markets Fall Sharply Amid More Fears

Goldman Sachs Wants To Cannibalize Citigroup

US Factory Prices Rise Fastest In 27 years

US Money Supply And Bond Market Black Hole

US M3 Points To Deflation

Stagflation A Weapon Of Mass Wealth Destruction

Germany Acts To Halt Sovereign Wealth Funds

German Goods Rise Fastest Since 1974

Ex-IMF Chief - 'The Worst Is Yet to Come'

'Large' US Bank May Fail Soon

Jim Rogers - Bigger Financial Shocks Ahead

World Markets Brace For Further Hits

Bush's Dirty Little Medicare Secret

Dollar Surge Won't Stop US From Crunch

Lehman Bros Portfolio Value Is A Mystery

Endgame Nears For Fannie And Freddie

The Next Wave Of Mortgage Defaults

Chinese Banks Eye US Locations

Four Reasons To Buy Gold Now

Morgan Stanley Says Financial Crisis Will Last

US Mint Suspends Gold Coin Sales


Wednesday, August 20, 2008

Stagflation is Here, and It is a Weapon of Mass Destruction

Thus with inflation now running at close to ten percent, we have entered a period of stagflation potentially worse than the 1970s. And stagflation is nothing less than a weapon of mass destruction aimed at the livelihoods not only of the elderly and those on fixed incomes, but also on students, the unemployed, families, and almost everyone who has

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The Disconnect Between Supply and Demand in Gold

By refusing to extend lines of credit, the big bullion banks are essentially rationing a very thin supply. Most physical silver, for example, is being reserved for industrial and fabrication use, and investors are simply not able to get any, without waiting for months. Investor oriented shops are bare, and the U.S. Mint has suspended coin product

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FDA knew about problem peppers months before outbreak.

just what it says...

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Federal Surveillance: The Threat to Americans' Security

The more information government gathers on people, the more power it will have over them. The more power it has to monitor their peaceful activities, the more intimidated Americans will become. Regardless of the Bush administration’s intentions in its war on terrorism, the new federal powers threaten the rights and personal security of American cit

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5 Great Depression Economic Strategies That Won't Work Now

To this day, the Bush administration still refuses to consider America's current economic situation as a depression. For the realistic among us, here are five solutions that worked (sort of) in the Great Depression don't fly anymore.

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More economic issues

Oil jumps above $114...

China and Iraq ready to sign $1.2 billion oil deal...

Ex-IMF chief says a large US bank to go under...

Large U.S. Bank Collapse Seen Ahead

By Jan Dahinten

The worst of the global financial crisis is yet to come and a large U.S. bank will fail in the next few months as the world's biggest economy hits further troubles, former IMF chief economist Kenneth Rogoff said on Tuesday. Continue


Exclusive Interview:

Jim Rogers Predicts Bigger Financial Shocks Loom

Fueling a Malaise That May Last for Years

By Keith Fitz-Gerald

Rogers talked extensively about the ill-advised bailouts of Bear Stearns, Fannie Mae and Freddie Mac, and the potentially ruinous fallout from the financial “Super Crash” that’s about to engulf the U.S. market. Continue


The Greenback Blues:

Something's Gotta Give

By Mike Whitney

Don't be fooled, most paper money is steadily losing value due to the wild expansion of credit which started at the Federal Reserve. Continue

Wholesale inflation surged in July: Prices for past year rising at fastest pace in 27 years

Fannie Mae, Freddie Mac Are Pounded: Share prices of Fannie Mae and Freddie Mac plunged Monday amid growing fears that the two largest providers of funding for U.S. home mortgages won't be able to avoid a government bailout.

Families forced to let homes they cannot sell: The seizure in the housing market is forcing families who cannot sell their properties to let them and move to rented accommodation, a new survey suggests.

Ex-IMF Chief - 'The Worst Is Yet to Come'

'Large' US Bank May Fail Soon

Jim Rogers - Bigger Financial Shocks Ahead

World Markets Brace For Further Hits

Bush's Dirty Little Medicare Secret

Dollar Surge Won't Stop US From Crunch

Lehman Bros Portfolio Value Is A Mystery

Endgame Nears For Fannie And Freddie

The Next Wave Of Mortgage Defaults

Chinese Banks Eye US Locations

Four Reasons To Buy Gold Now

Morgan Stanley Says Financial Crisis Will Last

US Mint Suspends Gold Coin Sales

How To Conceal Massive Economic Collapse

Tuesday, August 19, 2008

Goldman Sachs or Morgan Stanley - who goes bankrupt first?

Former IMF chief announced today that "the worst is yet to come" and said, "we're going to see a whopper - one of the big investment banks" go under.Now, how come anyone still has any money in either of these two financial institutions? If you are a Goldman Sachs or Morgan Stanley patron - GET OUT NOW!

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Beer Run

Should you sign Google's 'white space' petition?

Google announced this morning a new Web site called FreetheAirWaves.com, which promotes the non-exclusive use of frequencies in the range traditionally designated for TV channels. Google executives call it "Wi-Fi on steroids." But should you sign the petition?

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U.S. likely to recapitalize Fannie, Freddie

If the government-sponsored enterprises fail to raise fresh capital, the administration is likely to mount its own recapitalization, with Treasury infusing taxpayer money into the agencies, according to the Barron's source.

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More economic issues

Ex-IMF chief says big US bank to go under...

Oil prices slide close to $111...

Dollar hits six-month Euro High...

The perfect storm leading to a global recession: . Recent developments suggest that all G7 economies are already in recession or close to tipping into one. Other advanced economies or emerging markets (the rest of the eurozone; New Zealand, Iceland, Estonia, Latvia, and some Southeast European economies) are also nearing a recessionary hard landing. When they reach it, there will be a sharp slowdown in the BRICs (Brazil, Russia, India, and China) and other emerging markets.

Morgan Stanley Says Financial Crisis Will Last: Report: "We will likely see more insolvencies among small U.S. regional banks that have focused on mortgage business,"

Lehman Brothers in talks over sale of $40bn real estate assets: Lehman Brothers, the Wall Street investment bank, is understood to be in talks to sell its entire $40 billion (£21.5 billion) real estate portfolio in a move to stem losses incurred during one of the worst property slumps since the Great Depression.

Lehman Bros Portfolio Value Is A Mystery

Endgame Nears For Fannie And Freddie

The Next Wave Of Mortgage Defaults

Chinese Banks Eye US Locations

Four Reasons To Buy Gold Now

Morgan Stanley Says Financial Crisis Will Last

US Mint Suspends Gold Coin Sales

Monday, August 18, 2008

U.S. mint suspends gold coin sales

The U.S. Mint has suspended sales of American eagle gold coins and is refusing orders from dealers, two coin and bullion dealers confirmed Thursday.The mint’s suspension of gold coin sales follows its tight rationing of sales of silver eagle coins, begun in May, when sales to the public were terminated and sales to the mint’s 13 authorized dealer

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More economic issues

Oil rises on worries Storm Fay may disrupt supply...

Surge for the dollar as global fears rise...

Oil Nears $113...

Wag the Dog

How To Conceal Massive Economic Collapse

By Ellen Brown

What to do? War and threats of war have been used historically to distract the population and deflect public scrutiny from economic calamity. Continue


This Time, Wage Slaves Can't Revolt

By Colin Barr

The Fed is banking on a weak labor market to keep employees from demanding wage hikes that could boost inflation. But consumers are feeling pinched. Continue

ECB slammed as Europe crumbles: The economies of Germany, France and Italy all contracted in the first quarter and may now be in full recession, shattering assumptions that Europe would prove able to shrug off the effects of the credit crunch.

U.S. banking giant switches billions in debt to Britain to avoid paying corporation tax for 60 years: Merrill Lynch might not pay any corporation tax for the next 60 years, it emerged today. Accountants say that the move, which is set to spark anger among ordinary taxpayers, is legal but unusual.

U.S. Inflation Hits 17-Year High: As Increases Move Beyond Food, Oil: U.S. inflation soared to a 17-year-high annual rate in July, a government report showed, led by gains in food, energy, airline fares and apparel.

Home foreclosure filings up 55 percent in July: U.S. foreclosure activity in July rose 55 percent from a year earlier as a slump in once-sizzling housing markets forced yet more borrowers to default on their mortgages, according to a monthly report.

The outrage in your credit card's fine print: Americans have now racked up nearly $1 trillion in credit-card debt. As housing equity shrinks and costs rise, agencies such as Moody's report swelling numbers of accounts with balances three or more payments past due. Reinforced by abusive industry practices, the plastic safety net is becoming a permanent cage.


The Next Wave Of Mortgage Defaults

Chinese Banks Eye US Locations

Four Reasons To Buy Gold Now

Morgan Stanley Says Financial Crisis Will Last

US Mint Suspends Gold Coin Sales

US Inflation Hits 17 Yr High - Foreclosures Up 55%

Western Oil Demand Set For Biggest Fall In 25 Yrs

Spain's Economy Collapses

UK Home Repos Up 24%

Gold Fell In Dollars, Not In Euros And Pounds

Global Oil, Food And Water - Economic Tipping Points

Big Changes As Global Economy Heads For Recession

How To Conceal Massive Economic Collapse



Saturday, August 16, 2008

more economic troubles.

Surge for the dollar as global fears rise...

Oil Nears $113...

ECB slammed as Europe crumbles: The economies of Germany, France and Italy all contracted in the first quarter and may now be in full recession, shattering assumptions that Europe would prove able to shrug off the effects of the credit crunch.

U.S. banking giant switches billions in debt to Britain to avoid paying corporation tax for 60 years: Merrill Lynch might not pay any corporation tax for the next 60 years, it emerged today. Accountants say that the move, which is set to spark anger among ordinary taxpayers, is legal but unusual.

US Inflation Hits 17 Yr High - Foreclosures Up 55%

Western Oil Demand Set For Biggest Fall In 25 Yrs

Spain's Economy Collapses

UK Home Repos Up 24%

Gold Fell In Dollars, Not In Euros And Pounds

Global Oil, Food And Water - Economic Tipping Points

Big Changes As Global Economy Heads For Recession

How To Conceal Massive Economic Collapse

Friday, August 15, 2008

I-25 In Denver To Close During The One's Speech !

Interstate 25 will be closed through downtown Denver while presidential candidate Barack Obama speaks at Invesco Field at Mile High on Aug. 28, officials said Friday. A five-mile stretch of the freeway between U.S. 6 and Interstate 70 will close at about 5:30 p.m. for the evening, so that all will be able to listen to his important speech!

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Dr. Ron Paul will be on the Colbert Report Again!

Dr. Paul will be on The Colbert Report on September 4th, right after the Rally for the Republic (and during the McCain coronation at the RNC).These type of popular shows are such a great way to spread our message. We should all mark our calendars!

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Bob Barr Calls for Commission on Wasteful Government

Controlling and reining in federal finances will not be easy. The primary problem is one of political will. Whatever elected officials say publicly, everyone in Washington knows that government spending is out of control and a tsunami of unfunded liabilities threatens to wreck the federal budget and drown taxpayers; however, legislators must be con

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John McCain Forgets We Invaded Iraq and Afghanistan

If Obama made half of the mistakes McCain has made on the foreign policy front, the press would have jumped down his throat as unfit to lead. How many passes is John McCain going to get?

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Clinton's Name to be Placed in Nomination at Dem. Convention

Obama agrees to place Clinton's name in nomination! From a joint Obama/Clinton statement: Senators Obama and Clinton have been working together to ensure a Democratic victory this November. To honor and celebrate these voices and votes, both Senator Obama's and Senator Clinton's names will be placed in nomination.

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What Banks And The Government Are Not Telling Us About 2009

The Next Shoes You Hear Drop May Be Very Loud Ones - It is time for some straight talk about what America is being told about our financial institutions. First: listen to the words or our most esteemed financial leaders.

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More economic issues

Gold Declines to Less Than $800...



Sales of Existing Homes Decline to 10-Year Low; Median Price Tumbles...

Foreclosure filings surge 55%...

Banks borrow more from the Fed...

U.S. Inflation Hits 17-Year High: As Increases Move Beyond Food, Oil: U.S. inflation soared to a 17-year-high annual rate in July, a government report showed, led by gains in food, energy, airline fares and apparel.

Home foreclosure filings up 55 percent in July: U.S. foreclosure activity in July rose 55 percent from a year earlier as a slump in once-sizzling housing markets forced yet more borrowers to default on their mortgages, according to a monthly report.

The outrage in your credit card's fine print: Americans have now racked up nearly $1 trillion in credit-card debt. As housing equity shrinks and costs rise, agencies such as Moody's report swelling numbers of accounts with balances three or more payments past due. Reinforced by abusive industry practices, the plastic safety net is becoming a permanent cage.

How To Conceal Massive Economic Collapse

LA House Prices Down 30% From 2007

Pound Sterling Slumps To 12 Year Low

UK House Building Reservations Down 45%

Eurozone Economy Shrinks First Time Since 90s

Sharp Rise In US Foreclosures

20,000 More UK Jobs Vanish In One Month

Wall Street Banks Hit By Downgrades

Merrill - Credit Crisis Is 'Broad, Deep, & Global'

Subprime Losses Top $500B - Much More Ahead

US Losing More Than Oil With Georgia Debacle

Banks Subprime Losses Exceed $500 Billion

Fed Auctions Another $25 Billion In Loans

Foreign Investors Weary Of US Junk Paper

UBS Writes Down Another $10 Billion

UK Inflation Surges To 15 Year High




Thursday, August 14, 2008

So Much For The Oil Crash

Oil is on the rise again

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Gold, Platinum Hit 8-Month Low On $US

The precious metal is down more than 20 per cent since hitting a record high of $1,030.80 on March 17.

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Bush orders U.S. military to help Georgian civilians

President Bush said Wednesday he is dispatching U.S. military personnel to Georgia in a "vigorous and ongoing" mission to provide humanitarian aid to victims of the fighting between Russian and Georgian troops.

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Bush & Cheney's Lawbreaking Enabled Putin to Invade Georgia

Indeed, despite George W. Bush & Dick Cheney's howls of outrage at Russian aggression in Georgia and the disputed province of South Ossetia, the Bush administration set a deep precedent for Moscow's actions -- with its own systematic assault on international law over the past seven years. Now, their condemnations of Russia ring hollow.

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Suspicious: Who Made 270 million On Collapse of Bear Stearns

Suspicion over the collapse of Bear Stearns is centring on a massive options trade, less than two weeks before the historic investment bank went under in March, by which a single investor made a profit of more than $270m (£141m) on a bet against the company's share price.

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Spaceship Could Fly Faster Than Light

The idea involves manipulating dark energy – the mysterious force behind the universe's ongoing expansion – to propel a spaceship forward without breaking the laws of physics. "Think of it like a surfer riding a wave," said Gerald Cleaver, a physicist at Baylor University. "The ship would be pushed by the spatial bubble and the bubble would

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More Dollar issues

Foreclosure Of 88-Year-Old Leads to Police Standoff...

Wall Street Banks Hit By Downgrades

Merrill - Credit Crisis Is 'Broad, Deep, & Global'

Subprime Losses Top $500B - Much More Ahead

US Losing More Than Oil With Georgia Debacle

Banks Subprime Losses Exceed $500 Billion

Fed Auctions Another $25 Billion In Loans

Foreign Investors Weary Of US Junk Paper

UBS Writes Down Another $10 Billion

UK Inflation Surges To 15 Year High

Wednesday, August 13, 2008

Credit Crisis Reached $500,000,000,000 Yesterday.

That’s $500 billion in financial write-downs since the start of the credit crunch. Enough cash to buy Exxon Mobil outright and still have $100 billion left over. Or you could pick up Wal-Mart and Microsoft. Hell, for half a trillion, banks of the world could have taken a pass on those mortgage-backed securities and bought themselves Belgium… or at

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Mukasey Refuses To Prosecute Corrupt DOJ Officials

In a speech today before the American Bar Association (ABA), Mukasey was more explicit in his rejection of any sort of review or prosecution, saying that the “negative publicity” the people who politicizing the Justice Department’s internship and Honors programs faced was enough

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Bush doesnt want veterans voting. I wonder why

So let me get this straight: We ask these brave young men and women to risk their lives in order to protect our rights and freedoms — most important of which is the right to vote — and then we make it harder for them to exercise that right when they return? Why is Bush so afraid to have our veterans register and vote?

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