Tuesday, May 20, 2008

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.

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

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