Friday, November 14, 2008

More economic troubles.



Bush Warns Against 'Too Much' Government In Markets...
Defends Capitalism...
Boehner Assails Auto Bailout Proposal...


BOOMERANG!!

Paulson the Bungler

By Mike Whitney

There's more pain to come, but the suffering can be mitigated by sound decision-making and Keynesian policies. That means public work programs, bankruptcy reform, and extensions on unemployment. Nobel prize winner Paul Krugman recommends a stimulus package of $600 billion. That's a good start, but it will take much more than that. Continue


Crisis Is Beyond The Reach of Traditional Solutions

By Paul Craig Roberts

I cannot predict the future. However, I can explain what the problems are, how they differ from past times of troubles, and why traditional remedies, such as the public works programs that Reich proposes, are unlikely to succeed in reviving the U.S. economy. Continue


A Credit Crisis or a Collapsing Ponzi Scheme?

The Two Trillion Dollar Black Hole

By PAM MARTENS

Bloomberg News reporter, Mark Pittman, filed a Freedom of Information Act request (FOIA) with the Federal Reserve asking for detailed information relevant to whom the central bank was giving these massive loans and precisely what securities these firms were posting as collateral. Continue


Who Got Bailout Money So Far?

By Reuters

The Troubled Asset Relief Program (TARP) has so far committed the following funding: Continue


U.S. Military Fails To Learn An Ancient Military Lesson

No Industrial Economy Equals No Army

By Richard McCormack

It wasn't long ago that the world watched the collapse of the Soviet Empire. At the time, the USSR had a mighty military force that was overextended throughout the world and was bogged down in Afghanistan. Within a flash in 1989, the Soviet Union came tumbling down, not because it could not produce tanks and nuclear warheads, but because it couldn't produce bread. The collapse happened so rapidly it even surprised the U.S. intelligence community. Continue

Germany falls into recession: The figures indicate that Germany is in its worst recession for at least 12 years as the global financial problems curb exports and spending.

U.S. Foreclosure Filings Rose as Home Prices Fell: More than a quarter million U.S. households received a foreclosure filing in October even as state laws designed to protect property owners from losing their homes slowed the pace of defaults, RealtyTrac Inc. said.

85,000 homes lost to foreclosure in October: As government and industry scrambled to stem the housing crisis, another 84,868 homes were lost to foreclosure in October, according to a report released Thursday.

Soros says deep recession inevitable, depression possible: Said hedge funds will be "decimated" by the current financial crisis and forced to shrink their portfolios by 50-75 percent.

Bush defends free market amid 'awful' US jobless figures: More than 500,000 Americans lost their jobs last week, representing the fastest rise in US unemployment since the terrorist attacks of 2001.

Obama Transition Members Fannie Ties

Stocks Big Rally - Stay Above 8,000

Paulson Adds To AIG Folly

Soros - Recession Inevitable - Depression Possible

So, Who's Going To Bail Out The Fed?

Any 'Recovery' Will Be Short-Lived

Paulson Gives $700B Bailout To Rich Pals

Paulson Bank U-Turn Sends US Markets Down

Paulson's Big Con - Bailout Lie Exposed

BoE - Difficult Times Ahead

UK On Brink Of Total Meltdown

Hedge Funds Lose $100B In Oct Alone

Abandon All Hope Once Deflation Begins

US Jobless Claims At 7 Year High

Japan To Offer $100 Billion To IMF

Oil Falls To $50 A Barrel

Darling Admits UK In Recession

Germany Officially Falls Into Recession

British Telecom Slashes 10,000 Jobs

Christmas 'Cancelled' For Many In UK

Great Depression Lessons Go Unlearned

World Markets Slide On More Gloom


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