Thursday, October 09, 2008

More Dollar issues

Feds consider ownership stakes in banks...


'Bail-out plan to save the world'...

'New Order'...

'The USA will lose its superpower status'...

Aussies joke - and hope - that China can save capitalism...
NYC National Debt Clock runs out of digits...
Sheriff in Chicago won't evict in foreclosures...

"To the Bunkers!":

Central banks slash rates in emergency "midnight" meeting

By Mike Whitney

The United States is headed into another Great Depression and has probably dragged the rest of the world along with it. The global financial system will look very different by the time we reach the other end of the tunnel. Continue

Thousands of Troops Are Deployed on U.S. Streets

Ready to Carry Out "Crowd Control"

By Naomi Wolf

Members of Congress were told they could face martial law if they didn't pass the bailout bill. This will not be the last time. Continue

The Debate That Made No Difference

By Timothy V. Gatto

If what happened last night is any indication of what is in the future for America, we may as well brace for it. There was no mention of civil liberties being returned to Americans, no lessoning of the military budget that brought us into this debt, along with the declining housing market. Continue

The Financial Crisis Could be the Euro's Death Knell ...

and even end the shambolic EU

By Christopher Booker

The truth is that this massive banking crisis has exposed the hollowness, the impotence and the hypocrisy of the European Union like nothing before in its history. Continue

Brazil, Argentina abandon US dollar: Brazil and Argentina have launched a new payment system in their bilateral trade, doing away with the US dollar as a medium of exchange.

IMF: World economy to slow sharply, led by US: "The world economy is now entering a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s," the IMF said in its report.

Russian stock exchanges shut down until Friday as prices plummet: The RTS and MICEX stock exchanges halted trading until Friday after opening for barely more than half an hour on Wednesday as prices plummeted in tune with the overall situation in the world's stock markets and falling oil prices.

FTSE falls 2.6 percent on commodities;: Britain's top share index slid 2.6 percent by midday on Wednesday as recession fears stemming from a credit crisis battered commodity stocks

Central banks cut interest rates: The US Federal Reserve on Wednesday cut its key interest rate by half a percentage point, as did the European Central Bank, Bank of England and Swiss, Canadian and Swedish central banks.

Bush to America: Hang in there: President Bush on Tuesday told a country engulfed by dire economic news that it should not expect a sudden recovery, but rather a gradual rebound that will test people's patience.

'Economic 9/11' exacting grim psychological toll in US: The murder-suicide of a Los Angeles financial manager who shot dead five members of his family before killing himself has highlighted the psychological toll of the economic meltdown.

Retirement accounts have lost $2 trillion so far: Americans' retirement plans have lost as much as $2 trillion in the past 15 months — about 20 percent of their value — Congress' top budget analyst estimated Tuesday as lawmakers began investigating how turmoil in the financial industry is whittling away workers' nest eggs.

The Fed Now Owns AIG - But Who Owns the Fed?"

Surprise (Not) $85B AIG Bailout Jumps To $122B

MetLife Tanks 26% - BofA Falls After Offering Priced

US Sept Sales Warn Of 'Lump Of Coal' Christmas

ECB Cash Flood - More Cuts Possible

German 'FDIC' May Not Cover UK Depositors

The Quickening Economic Crisis

ECB Sees Crisis Of 'Enormous Proportions'

Asian Markets Plunge To New Low

China's Billionaires Lose One Third Of Wealth

Spain Announces Emergency Fund

Severe Bull Market for Gold

Gold Prices Drop - Real Value Soars

Fed Drops Rate To 1.5% - More Cuts Expected

US Banking Losses Est At $1.4 Trillion

Fed, ECB, BoE Emergency 0.5% Rate Cuts

Stocks Not Swayed By Rate Cuts

Fed Unveils Radical Plan To Boost Banks

UK Taxpayers Stuck For $1 Trillion Bankster Bailout

UK Bank 'Bailout' - The Key Points

Global Markets Dive Despite UK Bank 'Rescue' Plan

AIG Spa Trip Fuels Fury on Hill

Asian Stocks Fall Again

Dow Dives 508 - S&P Falls 60 - Worst Since 1937

Brown Orders Massive UK Bank Rescue

All Fall Down

Iceland Gets $8B Russian Loan As Banks Fold

Troubled BofA To Raise $10B In Capital

Thursday is D-Day - D For Derivatives

UK Bank Shares Dive Again As Panic Spreads

Smaller Banks Still Making Loans

Fed May Buy Companies, Unsecured Debt

The 75 Minute US Stock Market Rescue

LIBOR OIS Spread Signals Credit Earthquake

UK Govt Takes $100B Stake In Top Banks

Euro Govts Panic Triggers Stock Market Crash

Credit Crisis Risk Collapse Of Euro Monetary Union

Pakistan Facing Bankruptcy

Pope - World Financial System 'Built On Sand'

The Day The Earth Stood Still

US Economy Collapsing - Vid

Crude Oil Down 40% - Gas ONLY Down 15%

Oil Drops 6% To Below $88

BofA Profits Drop 68%

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