Thursday, June 04, 2009

More economic issues

1 of every 6 dollars of Americans' income is government check or voucher...

Bernanke Warns Long-Term Budget Deficits Threaten Financial Stability...

'Why Ben Bernanke is right to be worried'...

Bond Market Blowout

By Mike Whitney

Last week's ructions in the bond market, leave little doubt that the financial crisis has entered a new and more lethal phase. Continue


If You Are Stressed Now, Just Wait

Policymakers Have Created A Perfect Storm

By Paul Craig Roberts

The next shoe to drop will be the dollar’s loss of the reserve currency role. Then the US, an import-dependent country, will no longer be able to pay for its imports. Shortages will worsen price inflation and disrupt deliveries.
Continue

Russia hopes to get behind the wheel: Mr Putin met in Moscow with Siegfried Wolf, co-chief executive of Canada’s Magna International, and German Gref, head of Sberbank, whose groups are due to take a controlling interest in GM’s spun-off European Opel division in a deal to be negotiated in the coming weeks.

Germany Blasts 'Powers of the Fed': "I view with great skepticism the powers of the Fed, for example, and also how, within Europe, the Bank of England has carved out its own small line," Ms. Merkel said in a speech in Berlin.

U.S. bankruptcy filings up 37% last month: U.S. consumer bankruptcy filings soared 37 percent in May compared with the same period last year, according to figures released Tuesday by the American Bankruptcy Institute.

California will run out of cash in 14 days: The state wallet is empty. The bank closed. Credit has dried up, Gov. Arnold Schwarzenegger told lawmakers in a special Tuesday morning address at the Capitol.

State's unemployment fund short by billions: California is paying out so much for jobless benefits and collecting so little in payroll taxes that its unemployment insurance fund could be $17.8 billion in debt by the end of 2010

Draft Emergency Action Program For California

Panzner - Holes In The China Recovery Story

Roberts - As The Dollar Falls Off The Cliff...

Fed's AIG Role May Be GAO First Target

Ron Paul's Audit The Fed Bill Neutered

Banks Run The Country

A Myth Concerning Gold Confiscation

3 Huge US Missteps In GM, Chrysler Bailouts

Geithner Says China Backs US Stimulus

Sens Grill GM, Chrysler Execs Re Dumped Dealers

KKR Plunges To $1.2 Billion Loss

Citi To Halt Executive Severance Payments

Bank Of England's Medicine Is Not Working

UK Will Push Govt Spending 'To Soviet Levels'

Savvy Gulf Funds Question Global 'Rally'

Global Recession Makes World Less Safe

Bank Pays Staff To Take Five Years Off

Merkel Mauls Central Banks

Kroes Rips 'Obsolete' German Banking System

Where Is All US Exported Gold Coming From?

Asian Stocks Up For Fourth Day

Northwestern Mutual Makes First Gold Buy In 152 Yrs

Jim Willie CB - Quarterly $1 Trillion Monetization

Chinese Students Laugh At Geithner

California Will Run Out Of Cash In 14 Days

GM To Sell Hummer To Chinese

Toxic Assets A Bridge Too Far ­ Philly Fed Chief

China Backs US Dollar As Reserve Currency

Economic Recovery Is Wishful Thinking

Barclays Shares As Sheikh Sells Holdings

Geithner Assures China Its Dollar Assets Are Safe

Citigroup & GM Are Out In Revamp Of Dow Jones

Commodities And Oil Soar As Dollar Pounded

Sacrifices Needed To Save GM Says Obama

GM Bailout Only Delays The Inevitable Crash

Bad Design Driving Force Behind GM Malaise

GM - A Nostalgic Trip Down The Years

A History GM In Pictures

The 31 Yr Old In Charge Of Dismantling GM

Kidd - Boots On The Ground, County By County

Economic Crisis In Australia

Either Stocks Will Fall 37% Or Gold Will Rally 60%

US T Bonds In The Eye Of The Storm

Green Shoots? - Rail, Truck, Air Cargo Traffic Down

Did Bernanke And Paulson Commit Bank Fraud?

US Housing Bust, More Prime Mortgage Foreclosures

Palast - How Stevie The Rat Bankrupted GM

Michael Moore - Goodbye GM

GM Files For Bankruptcy

US Govt Takes 60% Of GM In Chapter 11 Bond Deal

Geithner To China - Deficit Will Be Tamed (Sure It Will)

Geithner Calls For New Ties With China

China's Manufacturing Expands In May

BoE Should Buy Toxic Assets Says IMF

UK Spending Higher Than In First World War

Tax Officials On Trail Of Hidden Wealth

South Korean Exports Dive 28%

Don't Write Off Deflation Danger Yet

The Big Collapse May Be Very Near

Chapman - Gold To Stand Against Big Devaluations

General Motors To File For Bankruptcy

Russian Oligarch Buys GM Europe

Why The Wheels Fell Off Germany's Economic Model

Pension Managers Lose $24B - Get $7M Bonuses

The Fed's Astonishing Runaway Theft Exposed - Vid

Peter Schiff - Weekly Summary - Vid

'Role-Play' Of Crisis At Norther Rock Years Ago

Ireland In Worst Loss Ever

US Bond Sell-Off Puts Pressure Elsewhere

US Economy Contracts 5.7%

Dollar No Longer Reserve Currency In Russia

Geithner Strikes Out In Beijing

Zoellick Warns Stimulus Just A 'Sugar High'

The Worst Is Yet To Come

'Unthinkable' U.S. Sales Tax Gets Fresh Look

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