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

BACK TO 1997... State sends $1 food stamp checks to 250,000... Obama pledges to slash deficit - after increase... Rosy assumptions... CITI'S PARSONS SPOTTED AT WHITE HOUSEAIG Seeks More US Funds As Record Loss Looms...

AMERICAN EXPRESS paying card holders to close their accounts...SOROS: ECONOMIC TURBULENCE WORSE THAN GREAT DEPRESSION...Philadelphia newspapers' owner files for bankruptcy... Advisers readying bankruptcy financing for automakers...

The Economic Outlook: 2012 and Beyond

By Dr. Abbas Bakhtiar

The US government under Bush spent close to one trillion dollars, and now the Obama administration is promising to spend trillions in the years to come to stimulate the economy. With official US debt now close to 11 trillion dollars and climbing fast, the situation is becoming untenable. According to treasurydirect.gov, last year (2008) US government paid $451 billion dollars interest on its debt. Add to this the Medicare and social security obligations and suddenly things look a lot worse than they appear. Continue

Economic Freefall

A Blessing in Disguise

By Jon Ronnquist

One thing we should not overlook when taking in the impact of the current economic situation is that it is both inevitable and invaluable in equal measure. That there was no escaping the consequences we are now facing has been a well known fact among those in the know for many years. If anything, it is amazing that we have staved it off for so long. For this we have the hard working men and women of the real world to thank, who toiled on in the name of pride, dignity and responsibility until the burden of debt simply became to great to bear. Continue

Herbert Hoover Copycat

By Ismael Hossein-zadeh

How the Current Financial Rescue Schemes are Following the Failed Model of the Hoover Administration. Continue

As New Scammers Emerge, Is It Jailout Time Yet?

By Danny Schechter

The Right Mobilizes Against The Stimulus While We Sign Petitions: Continue

Obama pledges to halve US deficit: The Obama administration, which has just pushed through a $787 billion economic stimulus package, also announced more funding for ailing US banks on Monday amid a continuing economic crisis.

In Latest Plan for Banks, U.S. Could Demand Voting Stake: The Obama administration put the nation’s biggest banks on notice Monday that the government could become their biggest shareholder if regulators decide they are not strong enough to weather a deeper-than-expected downturn in the economy.

Get ready for a wave of bank failures: In less than two months, regulators have seized 14 banks. Experts think many more banks will collapse before the financial crisis is over.

Global Systemic Geopolitical Dislocation

Dow And SP At 1997 Lows

Orwellian Doublethink - 'Nationalize Banks'...'Free Markets'

Soros - No Bottom To World Financial Collapse

Is Madoff A Symbol Of Jewish Greed?

Lendman - The More They Do The Worse It Gets

China Losing Interest In Buying US Debt

World Financial System Is Insolvent

IMF Emergency Fund Doubled To $500 Billion

Slim Pickings If China Won't Buy Western Debt

China To Buy Up Foreign Oil Companies

Desperate Brown's Trillion Dollar Bank Gamble