Thursday, May 28, 2009

More economic issues


Obama Fundraising Trips Leave Taxpayers With Hefty Tab...

Bondholders Push GM To Brink of Chapter 11...

Anger over German role...

POLL: Obama car involvement gets mixed grade...

GOVERNMENT WILL OWN 'UP TO 69% OF GM'...

TREASURY SELLOFF SPIKING INTEREST RATES...
Roubini: U.S. economy may dip again next year...

California wants federal government to back its loans...

Cities Face Bankruptcy Curbs...

Faber: Inflation to 'Approach Zimbabwe Level'...

OPEC SETS SIGHTS ON $80 OIL...

...prices hit six-month high near

Chevron, Shell and the True Cost of Oil

By Amy Goodman

The economy is a shambles, unemployment is soaring, the auto industry is collapsing. But profits are higher than ever at oil companies Chevron and Shell. Yet across the globe, from the Ecuadorian jungle, to the Niger Delta in Nigeria, to the courtrooms and streets of New York and San Ramon, Calif., people are fighting back against the world's oil giants. Continue


China warns Federal Reserve Over 'Printing Money'

By Ambrose Evans-Pritchard

China has warned a top member of the US Federal Reserve that it is increasingly disturbed by the Fed's direct purchase of US Treasury bonds. Continue


Exploding Debt Threatens America

By John Taylor

Standard and Poor’s decision to downgrade its outlook for British sovereign debt from “stable” to “negative” should be a wake-up call for the US Congress and administration. Let us hope they wake up. Continue

China Is Now in Firm Control of U.S. Debt Market: It is hilarious listening to the propagandists try to “spin” the events in bond and currency markets to make it sound like the U.S. government is still operating from a position of strength.

GM bankruptcy 'inevitable': General Motors, the US car manufacturer, is facing bankruptcy after creditors rejected a proposal to swap $27bn in debt for 10 per cent of the company's stock.

Home prices fall at record pace in first quarter: The Standard & Poor’s/Case-Shiller National Home Price index reported home prices tumbled by 19.1 percent in the first quarter compared to the first quarter last year, the largest drop in its 21-year history. Home prices have fallen 32.2 percent since peaking in the second quarter of 2006.

China Now Firmly Controls US Debt Markets

Dow Sinks 173 As Treasury Bond Prices Fall

Dallas Federal Reserve - $99T In Unfunded Liabilities!

PetroChina Now World's Biggest Firm

US Glutton Must Crawl To World Economic Table

Oil Price Hits Six Month High

China In Race To Buy GM Euro Operations

Shell Restructuring Puts 24,000 Jobs At Risk

Asian Shares Buoyed By US Consumer Confidence

Exploding Debt Threatens America

US Stocks Up On Confidence Boost

Sterling Breaks $1.60 Mark

Why 'Too Big To Fail' Is Too Much To Take

Thousands Of Brits Rely On Food Handouts

Treasury Warns Of £70B Hole In Budget Forecasts

Banks Accused Of Exploiting Mortgage Customers

Russian Gold Output Up 38% Jan-Apr '09

US Bonds Sales Finding Market Resistance

CA's Day Of Reckoning Is Warning For Europe

Tumbling Towards A Sovereign Debt Crisis?

British Banks Revolt Against Obama Tax Plan

Record Rate Of Decline In Economic Growth

70% 1st Buyers Lose Hope Of Ever Having Home

Beware False Dawns - Downturn Still Early

Saudi Warn Of $150 Oil Within 3 Years

Tokyo Aims To Halt 'Farmland Grabbing'

Porsche On The Financial Brink

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