Documenting America's decent into Fascism

Wednesday, April 01, 2009

What the IMF Would Tell The US, If It Could...

From 1945 until around 1980, the financial sector was one industry among many in the US, then something happened. The power of Wall Street grew exponentially, especially in Washington. One of the founder of this site, Simon Johnson, used to work at the IMF, he is warning us about the " Financial industry complex" and the oligarchs of Wall Street...

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G.M. About To Enter a Unique,

Fed government is seeking to ease GM into what it calls a “controlled” bankruptcy, in between a prepackaged bankruptcy and court chaos.

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US Banks Operating Without Reserve Requirements

Banks typically have 3% of their assets in cash in order to meet customer needs. Since 1960, banks have been allowed to use this “vault cash” to satisfy their reserve requirements. Today, bank reserve requirements have fallen to the point where they are now exceeded by vault cash......

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Ron Paul: GATA show me the Gold!

Mr Paul has so far attracted 21 co-sponsors for a Bill to conduct an independent audit of the Federal Reserve System - including its claims to Fort Knox gold - but an organization named the Gold Anti-Trust Action Committee (GATA) is taking a different approach.

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Tell Obama to end prohibition and legalize marijuana

Because: prohibition doesn't work; jails are full; prohibition fuels violent organized crime; the drug war wastes money; pot taxes could raise money; marijuana is medicine; small farmers need help; prohibition doesn't work.Tell President Obama to legalize and tax marijuana, just like alcohol.

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GM Bankruptcy? Tell Me Another

The president isn't serious about reform for Detroit. President Obama rightly says "sacrifices" must be made if GM is to emerge as a viable company. But there's one sacrifice he won't make: his re-election chances, by leaving the fate of the UAW truly up to a bankruptcy judge.

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More economic issues

FACE OFF: OBAMA HIGH-STAKES CHINA, RUSSIA MEETINGSStocks Rise to End First Quarter; Dow Loses 13% Overall in Period...

Workers say Obama treated autos worse than Wall St... New GM CEO says more plants could close... Video: Brawl over lost jobs... Angry workers besiege French tycoon Pinault in his car... Developing...USA TODAY Dealt New Losses; Publisher announces sudden retirement...

U-20: Will the Global Economy Resurface?

By Walden Bello

The Group of 20 (G20) is making a big show of getting together to come to grips with the global economic crisis. But here's the problem with the upcoming summit in London on April 2: It's all show. What the show masks is a very deep worry and fear among the global elite that it really doesn't know the direction in which the world economy is heading and the measures needed to stabilize it. Continue

Pentagon war spending hits $685.7 billion: GAO: The spending total equals about 85 percent of the $808 billion that Congress has appropriated for military operations in the global war on terrorism since the September 11 attacks on New York and Washington, the GAO said.

$296 Billion in Overruns in U.S. Weapons Programs: Nearly 70 percent of the Pentagon’s 96 largest weapons programs were over budget last year, for a combined total of $296 billion more than the original estimates, a Congressional auditing agency reported Monday.

Russia backs return to Gold Standard to solve financial crisis: Russia has become the first major country to call for a partial restoration of the Gold Standard to uphold discipline in the world financial system.

UK: Demonstrate at the G20 on 1 April: The leaders of the world’s big powers will meet at the G20 summit in London on 2 April. It is Barack Obama’s first visit to Britain. It is our chance to demand a change from Bush’s war policies.

Hundreds of French workers take bosses hostage: Hundreds of French workers, angry about proposed layoffs at a Caterpillar factory, were holding executives of the company hostage Tuesday, a spokesman for the workers said.

Home Prices in 20 U.S. Cities Fell by a Record 19%: The S&P/Case-Shiller index’s decrease was more than forecast and compares with an 18.6 percent decrease in December. The gauge has fallen every month since January 2007, and year- over-year records began in 2001.

Banks Starting to Walk Away on Foreclosures : Banks are quietly declining to take possession of properties at the end of the foreclosure process, most often because the cost of the ordeal — from legal fees to maintenance — exceeds the diminishing value of the real estate.

Government website now offers 'suicide warning signs' for victims of recession: When the government starts warning you not to commit suicide, you know things have gotten bad.

Judge Must Release Woman Sentenced to Jail for Being Poor, ACLU Says in Court Papers: The American Civil Liberties Union of Michigan asked for an emergency hearing today on behalf of an Escanaba woman sentenced to 30 days in jail because she is too poor to reimburse the court for her son’s stay in a juvenile detention facility.

China's Empty Dollar Threat

UK - No More Money To Put Into Economy

Rich Investors Sue Queen's Bankers

It's Time For Banks To Bow To Govt

BoE - Interest Rates To Soar

Banks Demand Homes As Biz Loan Security

Global Economy Set For Record Fall In 2009

Surge In Global Unemployment Due

Japanese Unemployment Hits 3 Year High

German Joblessness Rises Sharply In March

Crude Oil Price Collapse See Industry Consolidation

Japan Unveils New Stimulus Plans