COMPETING BILLS ON STIMULUS DIVIDE CONGRESS...
...battle not yet over
egulators shut banks in Ga., Calif...
BANK OF AMERICA CEO says nationalization 'absurd'...
UNEMPLOYMENT RISES TO 7.6%...
Gold Disconnects from USDollar
by Jim Willie
This is the biggest story in England not told, the gold breakout. True to form, the gold price has seen a powerful breakout in the nation whose financial foundation has been destroyed more rapidly than any other nation on the planet, except the Untied States of America. Continue
US Must 'Save Capitalism' From the Banks: Nassim Taleb
Author of 'The Black Swann' wants banks nationalizated—and bankers punished
By James Saft
"I want them poor and they deserve to be poor. You can't have capitalism without punishment." Continue
How to Lighten the Income Tax Load on the American Worker
Tax the Speculators!
By RALPH NADER
Let's start with a fairness point. Why should you pay a 5 to 6 percent sales tax for buying the necessities of life, when tomorrow, some speculator on Wall Street can buy $100 million worth of Exxon derivatives and not pay one penny in sales tax? Continue
Socialism Is Not a Dirty Word
By Bryan Friesen
In America, it is widely unpopular to associate oneself with a socialistic ideology. Americans use the word “socialism” to imply negative connotations to a political theory most know little about. Commonly categorized with Nazism and communism, the idea of socialism in America is derogative and unappealing. Continue
Will Obama Start the Next Trade War?
By Shamus Cooke
It is no exaggeration to say that the U.S.-China economic relationship, which is central to the functioning of the larger world economy, is already in tatters. This precarious partnership was dysfunctional from the beginning: China was to build the world’s products and lend money to the U.S. so that these products would then be purchased. Continue
UK: Record numbers are declared bankrupt as recession bites: The number of people being made bankrupt hit an all-time high during the last three months of 2008, as the country's worst recession in three decades left thousands of individuals unable to pay their debts.
Irish economy 'worst hit in eurozone': For 15 years, Ireland's economy boomed, but today it is the country most severely hit by recession in the Eurozone. Every five minutes, a job is lost.
Peter Schiff: Stimulus Bill Will Lead to "Unmitigated Disaster": Schiff scoffs at the notion the economic decline is starting to level off and concedes no government action means a "terrible" recession. But the path of increased government intervention will lead to "unmitigated disaster," says Schiff
84% of cities in money trouble: Some 84% of cities say they are facing financial difficulty, according to new survey. Things won't improve this year.
State can run out of money, but can't file for bankruptcy: Federal law permits individuals, businesses and local governments to file for bankruptcy reorganization and sometimes debt forgiveness. States are not covered by the law. No U.S. state has ever declared bankruptcy.
Feds Seize Two More Banks: Federal regulators shut down a bank in Southern California and another in the Atlanta area today, bringing the number of U.S. failures this year to eight in almost as many weeks. This is the 33rd collapse since the depression began.
Where Has The US Bailout Money Gone?
Bonuses To Bankers For Destroying Companies
Sarko Says Brown Ruined British Economy
Afraid To Face Real Causes Of Recession
38,000 UK Companies Expected To Die
German Industrial Output In Record Fall
Three More US Banks Shut By Regulators
The $4 Trillion Hallucination Driving Gold
The $1.8 Billion Fall Of Boaz Weinstein
Deutsche Bank In First Loss Since WWII
Bush Overpaid Banks In Bailout
Gross - US Must Spend To Avoid Mini Depression
Schiff - Stimulus Bill Will Lead To Unmitigated Disaster
Banks Sitting On Foreclosure Inventory Bomb
Lindorff - Gloomy Outlook From Business Experts
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