Monday, October 06, 2008

more economic troubles.

Germany guarantees savings to avert panic...

Asian markets plunge on fears crisis is spreading...


Oil falls below $90...

MUSCLE: Dollar Reaches 13-Month High...

Month Away, Some Voters Can't Decide...

Al-Qaida: US economic crisis equals Muslim victory...

Bail-out leads to conflict of interest claims as

Wall Street Financiers Cash in on Crisis

By Tim Shipman

New questions have been raised about the $700 billion economic bail-out of the US economy as President George W. Bush warned that the world may have to wait weeks for the benefits of the rescue package to be felt. Continue

The Epoch of Imperialism

Did Vladimir Lenin Predict The Banking Disaster Of 2008?

By V. I. Lenin
The epoch of imperialism opens when the expansion of colonialism has covered the globe and no new colonies can be acquired by the great powers except by taking them from each other, and the concentration of capital has grown to a point where finance capital becomes dominant over industrial capital. Lenin enumerated the following five features characteristic of the epoch of imperialism: Continue

Food Stamp Participation Increases As Economy Slows: Almost a million more people participated in the federal government's food stamp program for the needy between April and July, according to the U.S. Department of Agriculture, which oversees the program.

Europe calls for global summit on bank crisis: Gordon Brown and other European Union leaders called last night for a global economic summit to 'rebuild the world's financial system'

Former IMF economist warns of global recession: Simon Johnson, the former chief economist of the International Monetary Fund, warned of a global recession as a result of the devastating financial crisis that has struck the United States and Europe.

The party's over for Iceland: Iceland is on the brink of collapse. Inflation and interest rates are raging upwards. The krona, Iceland's currency, is in freefall and is rated just above those of Zimbabwe and Turkmenistan

The new masters of the universe?: Chinese growth still at 8 or 9% - US consumer is 'toast, done, finished'

AIG draws down $61 billion of its Fed loan: The emergency loan was supposed to buy the company time to sell its assets in an orderly way. But the sell-off has not yet begun, and now the insurer faces the added pressure of trying to sell the businesses as potential buyers are having trouble borrowing money.

Officials Refuse to Provide Details on Secret Previous Bailout: Top government officials are refusing to provide details on a secretive deal it made to manage billions in assets from an earlier bailout.

Banks are hoarding cash, raising borrowing costs and slowing economies : Americans' lack of financial sophistication is a cause, not just a symptom, of the credit crunch, said James Bowers, managing director of the Center for Economic and Entrepreneurial Literacy, a nonprofit group in Washington.

Smoke, mirrors ... and how a handful of missed mortgage payments started the global financial crisis: How did a few dodgy sub-prime mortgages in American inner cities lead to what is beginning to look like the collapse of capitalism?

The Problem Is Still Falling House Prices: Because of the 20% fall in the price of homes since the bursting of the house-price bubble, there are now some 10 million homes with mortgages that exceed the value of the house.

Foreclosures: Did God Want You to Get That Mortgage?: Has the so-called Prosperity gospel turned its followers into some of the most willing participants — and hence, victims — of the current financial crisis? That's what a scholar of the fast-growing brand of Pentecostal Christianity believe

Why Paulson's Plan Is A Fraud

Lessons From The Collapse Of Wall Street

Beltway Terrorists Launch Economic 9/11

Euro Crisis Deepens - Officials Vow To Save Banks

Euro Unity Collapses - Every Country For Itself

Now Wall Street May Refuse The Bailout

Bailout Betrayal - The Death Of Democracy

Hawaii Rep A Liar - Betrays Constituency On Bailout

Bailout May Actually Run To $1.8 Trillion

Chapman - Bailout Black Hole To Suck Us All In

'Bailout' The Worst Bill Ever Passed In History

$400B Sent To Israel Ahead Of Lehman BK

JP Morgan Brought Down Lehman Brothers

Europe Calls For Global Summit On Bank Crisis

Another Huge Euro Bank Ready To Collapse

How US 'Bailout' Grew Bigger And Bigger

Next - The Mother Of All Bank Runs?

Schwarzenegger Wants His Own $7B Bailout!

'Asset Management' Teams To Manage 'Bailout'

Bailout Has Built-In Rollover Loophole

Employers Cut Most Jobs Since 2003

Well Fargo Buys Wachovia For $15B

$700 Billion Bailout Becomes $850B Rescue

US Banks Borrow Record Amount From Fed

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