Monday, August 18, 2008

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



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