Bush Says Budget Is Sound...
George Bush Delivers The Horse's Head
By Mike Whitney
In the last two weeks, the Gulf leaders have watched nervously while the Federal Reserve has slashed rates by a whopping 125 basis points. The cuts are steadily eroding the $1 trillion of capital they have invested in US Treasuries and securities. Indeed, the price of friendship is quite high. Continue
Bankers Gone Bonkers
Global Finance and the Insanity Defense
By Pam Martens
With Wall Street capital disappearing as fast as foreclosures are climbing, one foreign head of state had an epiphany. French President Nicholas Sarkozy advanced the idea recently that the global financial system is "out of its mind." Continue
UAE likely to revalue dollar-pegged currency: Since May, when Kuwait dropped its dollar peg and adopted a basket of currencies, there has been constant speculation that the UAE and Qatar would follow suit or revalue their currencies.
Bush proposes 3.1 trillion-dollar budget: Bush's spending plan, sent to Congress for the fiscal year starting October 1, forecasts heavy deficits for the government -- 410 billion dollars for the current year and 407 billion for the coming fiscal year.
'It's going to be much worse': Famed investor Jim Rogers sees hard times ahead for the United States - and a big opportunity looming in China.
House Of Cards : 60 Minutes Video Report: Steve Kroft reports on how the U.S. sub-prime mortgage meltdown, in which risky loans drove a housing boom that went bust, is now roiling capital markets worldwide.
Iran's Oil Bourse Could Topple The Dollar
Dozens Of US Banks Will Fail Within 2 Years
No Private Funding For Bond Ins - Risk Too Great
Even Prime Borrowers Took On Too Much Debt
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