Life the Universe and ....: More economic issues

WASHINGTON MUTUAL TUMBLES 30% TO 17-YEAR LOW... LEHMAN PLANS ASSET SALES... PENNY STOCK: SIRIUSXM FALLS ON WARNING...Dollar Rises to Strongest in Year Against Euro...

Temporary Respites from Permanent Decline

By Paul Craig Roberts

The US is dependent on foreigners to finance its $600 billion annual government budget deficit and its $800 billion annual trade deficit. The US government relies on foreigners to recycle their $800 billion trade surplus dollars to buy US Treasury bonds and mortgage debt. Continue

Federal Shortfall To Double This Year: Next President To Inherit Deficit Of $500 Billion: A weak economy and a sharp increase in government spending will drive the federal budget deficit to a near-record $407 billion when the budget year ends later this month, and the next president is likely to face a shortfall in January of well over $500 billion, congressional budget analysts said yesterday.

In case you missed it: The War On Waste: Defense Department Cannot Account For 25% Of Funds — $2.3 Trillion

Lehman losses hit world stocks: World stocks have slipped after Lehman Brothers, the fourth largest US investment bank, reported a massive third-quarter loss of about $4 billion.

OPEC Production Cut Surprises the Market: In a slap to Saudi Arabia, the cartel's hawks hope a return to 2007 output targets will stabilize oil's price at around $100 a barrel

UAL Shares Fall 75% After Google Posts Old BK Story

Fitts - US Problem Is Not Economic, It's Political

Lehman Brothers Worth A Big Fat ZERO?

Fannie, Freddie Bailout Doomed

OPEC Cuts Output To Keep Oil Above $100

Enter The Dragon - China Ready To Shake World

Lehman Stocks Dive Catastrophic 45% In One Day

Fannie, Freddie Got Free Passes By Buying Congress

Fannie, Freddie Bailout To Fail As US Debt Doubles

Fannie, Freddie Bailout Just The Beginning

Paulson's Actions Herald The Financial Collapse Of US

Dollar Dumping Extends Beyond Oil Trading