Documenting America's decent into Fascism: More economic issues

Thursday, September 18, 2008

FED ANNOUNCES $180B CASH FLOOD TO FIGHT CRISIS... RAW NERVES... INVESTOR ANXIETIES INTENSIFY... FEAR STALKS THE BANKS... Bloomberg warns of possible 'next wave' crisis... PUMP: BANK OF JAPAN injects 1,500,000,000,000 yen...

Gold posts biggest 1-day gain ever... Moscow suspends trading... Three-Month Bill Rates Plunge to Lowest Level Since 1950s... McCain says government 'forced' to bail out AIG... Palin says she's disappointed by another bailout...Israel Lobby’s US Treasury Follies Hurt

By Grant F. Smith

According to the Jerusalem Post, the US Department of Treasury’s new Terrorism and Financial Intelligence (TFI) unit is going after the Islamic Republic of Iran Shipping Lines. - Trade with Iran and the rest of the Middle East is based on real comparative advantages. US workers, many facing home foreclosures due to junk mortgages, will be the unknowing victims of the latest US Treasury gambit. Continue

Military Industrial Complex 2.0

Cubicle Mercenaries, Subcontracting Warriors, and Other Phenomena of a Privatizing Pentagon

By Frida Berrigan

In fiscal year 2005 (the last year for which full data is available), the Pentagon spent more contracting for services with private companies than on supplies and equipment -- including major weapons systems. Continue

The Wall Street Crisis and the Failure of American Capitalism

By Barry Grey

A sea change is unfolding in the US and world economy that portends a catastrophe of dimensions not seen since the Great Depression of the 1930s. Continue

McCain Blasts Wall Street Failure, Neglects To Mention His Adviser Helped Cause It: If McCain wants to hold someone accountable for the failure in transparency and accountability that led to the current calamity, he should turn to his good friend and adviser, Phil Gramm.

Senior advisor disses McCain on economy: A senior economic advisor to the Republican Party says neither John McCain nor his running mate is capable of running a large business.

Financial turmoil accelerates in Russia: Russian financial turmoil accelerated Wednesday as trading on the country's major exchanges was halted for a second day and the finance ministry announced plans to loan the country's three largest banks up to $44 billion.

US government rescues insurer AIG: AIG will get an $85bn loan, in return for an 80% "public" stake in the firm.

Rush to cancel AIG policies; The Singapore office of insurance giant AIG has been besieged by people desperate to cancel their policies.

Regulators gauging other banks' interests in WaMu: Shares of Washington Mutual have plummeted in recent weeks amid continued concerns about mounting losses in the bank's lending portfolios. In early trading Wednesday, they rose 6 cents, or 2.6 percent, to $2.38.

Is the U.S. going overboard on bailouts?: Industry and government officials say the handouts are cheaper in the long run than doing nothing. But critics say they encourage bad behavior by removing the consequences.

Housing starts at 17-1/2-year low: Construction starts on new homes plunged to a 17-1/2-year low during August as builders scaled back sharply to try to cope with the worst slump in U.S. housing since the Great Depression.

U.S. current account trade deficit rises to $183.1 billion: The U.S. Commerce Department says the current account trade deficit increased by 4.3 per cent to US$183.1 billion in the April-June quarter, compared to a revised deficit of $175.6 billion in the first quarter. The deficit represents the amount of money the country is borrowing from foreigners.

The Final Destruction Of The Middle Class

3 Mo T-Bill Rates Lowest Since World War II

Gold Skyrockets On Global Uncertainty

Stocks Plunge $449 On AIG Takeover & FEAR

Treasury To Sell Notes To Help FED's Balance Sheet!

SEC Bans Naked Shorting For All Securities

Lehman Riddle - $5B Goes From London To NY

AIG Bailout Fail To End Wall St Panic

Brown Brokers HBOS Deal

Merrill Lynch Top Brass To Split $200M

Dodd - The Fed Can Screw Taxpayers

Mystery JPM Pmts Made To Lehman Post-Bankruptcy