Life the Universe and ....: More economic issues

Paris rejects 'Obama-style' stimulus program...Stimulus Package Set to Grow in Senate...Obama: Banks need more help; some may fail... Treasury Set to Detail Plan Next Week...Global financial crisis sparks unrest...

A Bankrupt and Discredited Country

The Era of American Leadership Is Over

By Paul Craig Roberts

With another swipe at America’s failed economic leadership, Putin said it is time to get rid of virtual money, false financial reports, and dubious credit ratings. Putin proposed a new reserve currency system to “replace the obsolete unipolar world concept.” Continue

It’s Not Going to Be OK

By Chris Hedges

The daily bleeding of thousands of jobs will soon turn our economic crisis into a political crisis. The street protests, strikes and riots that have rattled France, Turkey, Greece, Ukraine, Russia, Latvia, Lithuania, Bulgaria and Iceland will descend on us. Continue

A Stealth Bomb in Obama's Stimulus Bill

The Nuclear Industry's Latest Money Grab

By HARVEY WASSERMAN

The desperate, dangerous nuclear power industry has dropped a $50 billion stealth bomb meant to irradiate the Obama Stimulus Package. Continue

Mexico’s Peso Stuns UBS With Biggest Drop Since 1995 : After weakening 20 percent last year, the currency fell to a record low of 14.4484 per dollar today.

China: Up to 26 million rural migrants now jobless: The global economic crisis has taken hold deep in China's impoverished countryside, as millions of rural migrants are laid off from factory jobs and left to scratch a living from tiny landholdings — creating unsettling prospects for a government anxious to avoid social unrest.

More banks likely to fail, Obama warns: Mismanagement by the nation’s lending institutions was so extreme that the losses sustained by banks still cannot be calculated and more are likely to fail, President Barack Obama warned.

Let banks fail, says Nobel economist Joseph Stiglitz: The Government should allow every distressed bank to go bankrupt and set up a fresh banking system under temporary state control rather than cripple the country by propping up a corrupt edifice, according to Joseph Stiglitz, the Nobel Prize-winning economist.

U.S. Economy: Manufacturing Shrinks Further, Spending Falls: Manufacturing in the U.S. shrank again last month and consumer spending recorded an unprecedented sixth monthly decline in December, offering no sign the economy has hit bottom.

World stocks fall on poor earnings, banking woes: World markets fall as investors prepare for more bad earnings, deeper economic downturn

Macy's to cut 7,000 jobs, slash dividend: Joining the parade of companies laying off thousands, department-store chain Macy's Inc. said Monday it would make deep cuts in its workforce and slash its dividend by more than half.

46 Of 50 States Could File Bankruptcy In 2009-2010

How Much Bailout Is Going To Small Banks?

Nobel Prize Economist - Let The Banks Fail

UK Loses Billions To Tax Avoidance

Bulletproof Madoff

China Falls Into Budget Deficit

Oz In First Budget Deficit In 7 Years

Worse Than The Great Depression

Wars, Economic Failure Lead To One World Government

US-China Currency War Threatens World

China Warns US Over Protectionism

Russia, China Blame West For Economic Crisis