Monday, June 01, 2009

More Dollar issues

Fed puzzled by yield curve steepening...
Geithner to Tell China No One More Concerned About Deficit Than Obama...


World Bank President Calls Stimulus Measures 'Sugar High,' Says Unemployment Will Rise...

FDIC restricts interest rates at weak banks...

GM prepares for bankruptcy announcement... GM begins to emerge...

ROMNEY TO OBAMA: Give GM Back To The People...

Ireland Set To Go Bust, Claims Economic Historian

By The Belfast Telegraph

His chosen prime candidate to go bust is "Ireland, followed by Italy and Belgium, and UK is not too far behind". Argentina is top of his list of shaky countries but "the argument that it can't happen in major western economies is nonsense".

Chinese economists deem huge holding of US bonds "risky," : On the first day of U.S. treasury secretary Timothy Geithner's visit to China, the Beijing-based Global Times published a survey of 23 famous Chinese economists on Sunday, saying that the majority of them deemed the vast holding of U.S. bonds "risky."

Leap in U.S. debt hits taxpayers with 12% more red ink: Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits, the national debt and other government promises, a USA TODAY analysis shows.

Deep Cuts Threaten to Reshape California: . The cuts Mr. Schwarzenegger has proposed, if enacted by the Legislature, would turn California into a place that in some ways would be unrecognizable in modern America: poor children would have no health insurance, prisoners would be released by the thousands and state parks would be closed.

Hidden city under L.A. : A raid in Los Angeles County, California, has uncovered a hidden world beneath a busy freeway..

Ohio Food Stamp Participation Rates Soaring: Figures show than one in seven people in Cuyahoga County, Ohio's most populous county, received food stamps in February, an 8 percent increase from one year ago.

U.S. mortgage rate rise threatens housing recovery: A dizzying rise in U.S. mortgage rates this week has left homeowners worried about the government's ability to revive the housing market as a means to economic recovery.

Unemployment in U.S. Probably Surpassed 9% in May: Unemployment in the U.S. probably surpassed 9 percent in May for the first time in more than 25 years, underscoring forecasts that the economy will be slow to pull out of the worst recession in half a century, economists said before a report this week.

US Govt Takes 60% Of GM In Chapter 11 Bond Deal

Geithner To China - Deficit Will Be Tamed (Sure It Will)

Geithner Calls For New Ties With China

China's Manufacturing Expands In May

BoE Should Buy Toxic Assets Says IMF

UK Spending Higher Than In First World War

Tax Officials On Trail Of Hidden Wealth

South Korean Exports Dive 28%

Don't Write Off Deflation Danger Yet

The Big Collapse May Be Very Near

Chapman - Gold To Stand Against Big Devaluations

General Motors To File For Bankruptcy

Russian Oligarch Buys GM Europe

Why The Wheels Fell Off Germany's Economic Model

Pension Managers Lose $24B - Get $7M Bonuses

The Fed's Astonishing Runaway Theft Exposed - Vid

Peter Schiff - Weekly Summary - Vid

'Role-Play' Of Crisis At Norther Rock Years Ago

Ireland In Worst Loss Ever

US Bond Sell-Off Puts Pressure Elsewhere

US Economy Contracts 5.7%

Dollar No Longer Reserve Currency In Russia

Geithner Strikes Out In Beijing

Zoellick Warns Stimulus Just A 'Sugar High'

The Worst Is Yet To Come

'Unthinkable' U.S. Sales Tax Gets Fresh Look

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