Thursday, December 18, 2008

More economic troubles.



...biggest one-day slide against euro

BUSH: 'I didn't compromise my soul to be a popular guy'...

...sacrificed free-market principles to save economy...

Federal spending soars 25% -- before bailout...

London Banker: "The market has failed, and officialdom is perpetuating that failure."

By Mike Whitney

It is now clear to me that policy makers in the West are determined to apply every available resource to underpinning failure, misallocation and executive excess. As this discourages the honest saver from parting with cash, policy makers are ensuring that deflation will wreak its havoc on the financial and real economies of the world. Continued

The Best and the Brightest Led America Off a Cliff

By Chris Hedges

The multiple failures that beset the country, from our mismanaged economy to our shredded constitutional rights to our lack of universal health care to our imperial debacles in the Middle East, can be laid at the feet of our elite universities. Harvard, Yale, Princeton and Stanford, along with most other elite schools, do a poor job educating students to think. Continue

At Last, A Date

By George Monbiot

For the first time, the International Energy Agency has produced a date for peak oil. And it’s not reassuring. Continue

Time To Wake Up And Smell the Economy

By Jon Ronnquist

For a time we were all kings, walking tall beneath the banner of imagined destiny. In the east the grateful poor toiled at our behest and sang songs of praise to their generous masters beyond the sea. Continue

Disgraced financier Bernie Madoff to be electronically tagged: The latest sensational twist in the mushrooming financial scandal came as 70-year-old Madoff fled his £6million New York apartment and went into hiding to escape furious creditors, many of them former friends and lifelong business associates.

Bernie Madoff's Victims: The List: Word on the identities of Bernie Madoff's clients / victimes continues to emerge. The total losses reported so far add up to about $30 billion.

Opec agrees record oil output cut: The reduction in output will mean that Opec is taking 4.2 million barrels of oil out of the global market per day compared to September levels.

Peak Oil: George Monbiot meets ... Fatih Birol: Britain's leading green commentator tackles the International Energy Authority's chief economist, who reveals for the first time a startling and worrying prediction for the date of peak oil. Read the peak oil feature and add your comment

Dollar No Longer Haven After Fed Moves Rate Near Zero: The world’s biggest currency-trading firms say the dollar’s appeal as a haven amid the financial crisis all but evaporated.

Chrysler Shuts For A Month and Chevy Volt Delayed: Chrysler LLC said Wednesday that it will shut down all its North American production for at least one month starting December 19.

'75% in US bear the brunt of recession': n almost one home in five (18 percent) someone has lost a job in recent months, and in more than a quarter (27 percent) a worker has had his or her pay cut or working hours reduced, the poll found.

Dollar's Drop Erases Months Of Solid Gains

30 Chrysler Plants To Close For A Month

The Talmud, Wall Street, & Bernie The Goniff

Stocks Drops - Fear Fed Is Out Of Tricks

Oil Falls Below $40 - First Time Since 2004

Obama's Foreign Policy 'Change' Mostly Cosmetic

Analysts - Fed Out Of Bullets After Rate Cut

Fears Behind The Cheers For The Fed

Fed Throws Out The Rulebook

UK Rates To Follow US To ZERO

Madoff Warnings 'Ignored For 10 Yrs' By SEC

SEC Official Married Into Madoff Family

Kiss The Dollar Rally Goodbye

Revealed - 40% Of All Pensions Funds Go To Fees

UK Bank Rescue Plan Is Just Not Enough

Richard Branson Says The 'Economy Is Fu**ed'

OPEC Agreed On Output Reduction

Helen Thomas - It's A Depression

'Bailout' Talk For Madoff's Victims!

Deflation Pounds Americans

IMF Chief Stark Warning Of Civil Violence

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