Keyword: bondcollapse

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  • Will the Fed have to undo its rate hike?

    01/20/2016 8:49:58 AM PST · by Citizen Zed · 11 replies
    cnbc ^ | 1-19-2016 | Ron Insana
    Well, I guess we can rule out another rate hike in January. That's what economists are saying, not that anyone seriously believed that the Federal Reserve was going to engage in back-to-back hikes after promising that rates would go up only gradually in the months ahead. With Wall Street off to its worst annual start in history, stock prices have been but one indicator that the economy could slow in the weeks and months ahead. That should give the Fed pause. Stocks, of course, have not been the only market-based gauge to suggest that both the domestic, and global, economies...
  • In Fed Officials’2006 Meetings,No Deep Worry on Housing[Elegant as Eiffel Tower, Paris or Vegas]

    01/12/2012 5:56:10 PM PST · by fight_truth_decay · 6 replies · 2+ views
    NYTimes ^ | January 12, 2012 | BINYAMIN APPELBAUM
    WASHINGTON – The desperation of homebuilders was a running joke among top Federal Reserve officials during the waning phase of the housing bubble in 2006, according to transcripts released Thursday. They laughed about the cars that builders were giving to buyers. They laughed about efforts to make empty homes look occupied. They laughed at a report that one builder said inventory was rising “through the roof.”
  • Spending Bills Passed by GOP House Increased Debt $1 Trillion in 10 Months

    01/11/2012 5:54:58 PM PST · by tsowellfan · 9 replies
    ( - Federal spending bills approved by the Republican-controlled House of Representatives have increased the national debt by more than $1 trillion dollars in just 10 months. Republicans won a majority in the U.S. House of Representatives in the November 2010 elections and took control of the House on Jan. 5, 2011, when the chamber convened and elected Rep. John Boehner (R.-Ohio) as speaker. But the Republican-controlled House did not gain a veto power over federal spending until March 4, 2011. That was the expiration date of the continuing resolution (CR) that the lame-duck Democrat-controlled Congress approved in December 2010....
  • Add Bain to list of things we cannot discuss

    01/11/2012 1:45:23 PM PST · by Lakeshark · 114 replies
    Legall Insurrection ^ | 1/11/2012 | William Jacobson
    Politico has a story about Newt agreeing not to go after Romney any more about Bain, and Newt was just on Hannity’s radio show on the issue. (I’ll post the audio if I can get it.) Newt said there are three or four instances where the record is really bad and Romney needs to defend it. Newt said the challenge is not to the model but how Romney acted in specific instances, and how odd it is that Romney runs on his business record but doesn’t want to discuss the record. Newt made the point that it is impossible to...
  • Fedzilla is demanding I complete a 4-page survey ... about my garden! (vanity)

    01/06/2012 8:50:18 AM PST · by matt1234 · 147 replies
    me ^ | Jan. 6, 2012 | me
    Are you ready for the vegetable census? Yesterday I received the “2012 National Agricultural Classification Survey” from the US Dept. of Agriculture. It was accompanied by a cover letter stating (in large, bold font) that my response is required by law; and, if I do not reply, I “may be personally visited.” I am not and have never been a farmer or rancher. My land has never been farmed or ranched. I do, however, have a vegetable garden that I built in 2009. This garden is private and noncommercial. There is no illegal activity whatsoever on my property. The survey...
  • Vanity: National Agricultural Classification Survey - WTF?!

    01/10/2012 7:54:43 PM PST · by dagogo redux · 39 replies
    1/10/12 | dagogo redux
    Well, here’s the totalitarian state, right before my eyes! Today in the mail came a largish envelop for me from The “National Agricultural Statistics Service”, postage and fees paid by USDA Permit No. G-38. A prominant blocked off area on the envelop front stated in large bold letters, “YOUR RESPONSE IS REQUIRED BY LAW.” Also on the envelop and several places inside I find Obama-style logos for the USDA, and one with “AGRICULTURE COUNTS” around the outside, and at the base of the rolling landscape “NASS,” which stands for National Agricultural Statistics Service. That’s right: now we have a National...
  • Twinkies Maker Preparing for Chapter 11 Filing

    01/10/2012 6:45:05 PM PST · by 6SJ7 · 56 replies
    The Wall Street Journal ^ | January 10, 2012 | Mike Spector and Julie Jargon
    Hostess Brands Inc. is preparing to file for Chapter 11 bankruptcy protection as soon as this week, said people familiar with the matter, a move that would mark the second significant court restructuring for the Twinkies and Wonder Bread baker in the past several years. The privately held Irving, Texas, company, which employs roughly 19,000 people and carries more than $860 million in debt, has been facing a cash squeeze amid high labor costs and rising prices for sugar, flour and other ingredients, according to people familiar with the matter. Those costs together have proved higher than the company's roughly...
  • Dear Americans, We Are Surrounded

    01/10/2012 3:55:29 PM PST · by JohnKinAK · 29 replies · 1+ views
    Economic Policy Journal ^ | 1-10-2012 | EPJ
    <p>Occasionally in the past, I have received emails from readers asking me if it was time to leave America because of some new infringement on our rights.</p> <p>In the past, I always responded to these emails by saying that it really depended on who the reader was. Anyone, I usually replied, who was in the securities-brokerage industry or the medical profession should start looking, because of how regulated those industries are. If on the other hand, a surfer dude just living for the next wave, would have little reason to be concerned.</p>
  • Goldman's Latest Boiler-Room Stock: America

    01/10/2012 3:51:03 PM PST · by khnyny · 6 replies
    Rolling Stone ^ | January 2, 2012 | Matt Taibbi
    Have a column on Iowa coming soon, but first, a quick but absurd note from the world of high finance. It seems Jim O'Neill, the head of Goldman's Asset Management department, is predicting that the United States stock market may go up "15 to 20 percent." O'Neill apparently believes Ben Bernanke and the Federal Reserve will resort to another round of money-printing, and finally green-light the long-awaited "Qe3," or third round of "Quantitative Easing." The QE programs involve the Fed printing hundreds of billions of dollars and pumping them into the marketplace, where they ostensibly stimulate the economy (although recent...
  • Obama: Republicans Want to Emulate China, Roll Back Minimum Wage, Prevent Unionization

    01/10/2012 10:51:06 AM PST · by Sub-Driver · 26 replies
    Obama: Republicans Want to Emulate China, Roll Back Minimum Wage, Prevent Unionization By Fred Lucas January 10, 2012 Subscribe to Fred Lucas's posts ( – President Barack Obama accused Republicans of wanting to make America more like China, of seeking to roll back the minimum wage and of wanting to prevent collective bargaining and said the GOP wants to “get rid” of clean air and water rules. Obama made the comments Monday at a campaign fundraiser at the Capital Hilton in Washington on the eve of the New Hampshire Republican presidential primary. “Republicans in Congress and these candidates, they think...
  • Turkey Holds Syria-Bound Iranian 'Military Cargo'

    01/10/2012 10:21:50 AM PST · by edpc · 5 replies
    JPost ^ | 10 Jan 2012 | Reuters
    ISTANBUL - Turkish customs officials intercepted four trucks on Tuesday suspected of carrying military equipment from Iran to Syria, a Turkish provincial governor. The governor of Kilis province said the trucks were confiscated at the Oncupinar border crossing into Syria after police received information about their cargo, according to Dogan news agency. "The four trucks were confiscated by customs. They are alleged to be carrying military equipment," Governor Yusuf Odabas said. He said experts were being sent from Ankara to examine the cargo.
  • How To Prepare For The Difficult Years Ahead

    01/10/2012 11:28:44 AM PST · by blam · 77 replies · 1+ views
    TEC ^ | 1-10-2011 | Michael Snyder
    How To Prepare For The Difficult Years AheadMichael SnyderJanuary10, 2012 How should people prepare for the difficult years that are coming? I get asked about that a lot. Once people really examine the facts, it is not too hard to convince them that an economic collapse is coming. But once they accept that reality, most of them want to know what they can do to prepare themselves and their families for the hard times that are ahead. Well, the truth is that it does not have to be complicated. Many of the things discussed throughout this article are things that...
  • Obama to ask for increase to debt ceiling in a 'matter of days'

    01/10/2012 12:09:12 PM PST · by ColdOne · 13 replies · 1+ views
    The Hill ^ | 1/10/12 | Amie Parnes
    The Obama administration will be asking Congress to raise the debt limit in the coming days, White House press secretary Jay Carney said on Tuesday. "I'm confident it will be executed in a matter of days, not weeks," he told reporters. The notification by the administration — which had been scheduled for last month — was delayed because Congress has been holding only pro forma sessions.
  • 19 Facts About The Deindustrialization Of America That Will Make You Weep

    The United States is rapidly becoming the very first "post-industrial" nation on the globe. All great economic empires eventually become fat and lazy and squander the great wealth that their forefathers have left them, but the pace at which America is accomplishing this is absolutely amazing. It was America that was at the forefront of the industrial revolution. The United States has become a nation that consumes everything in sight and yet produces increasingly little.
  • Want a Job? Go to College, and Don’t Major in Architecture

    01/09/2012 7:49:35 PM PST · by SeekAndFind · 36 replies
    New York Times ^ | 01/09/2012 | By CATHERINE RAMPELL
    Say it with me, readers: College is worth it.For all the bellyaching about wasted degrees and the many indebted grads stuck on their parents’ couches, recent college graduates are still doing a lot better than their less-educated counterparts. Unemployment for new graduates is around 8.9 percent; the rate for workers with only a high school diploma is nearly three times as high, at 22.9 percent.That’s according to a new report [PDF] from Georgetown’s Center on Education and the Workforce. The report also had some fascinating statistics on earnings and jobless rates by college major, something we’ve written about before.The...
  • Nov. consumer credit surges by $20.4 billion

    01/09/2012 12:31:44 PM PST · by Nachum · 24 replies
    Market Watch ^ | 1/9/12 | Greg Robb
    WASHINGTON (MarketWatch) -- U.S. consumers increased their debt in November by a seasonally adjusted $20.4 billion, the largest increase since November 2001, the Federal Reserve reported Monday. Monthly debt rose at a 10% annual rate in November, a much faster pace than had been expected by Wall Street economists.
  • Global banking checks to begin early 2012

    01/08/2012 4:53:59 PM PST · by Olog-hai · 2 replies (AFP) ^ | 08 January 2012, 21:48 CET
    Checks of banks in the European Union, Japan and the United States are to beginning early in 2012 to see if they have put the globally agreed Basel rules into practice, central bank governors said Sunday. The Group of Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision (BCBS), announced the checks in a statement issued after a meeting. The group agreed that the results of the tests would be made public, the statement added. … The "Basel II" capital rules for the world's biggest banks are designed to prevent a repeat of...
  • Retiree costs loom large over St. Paul schools

    01/08/2012 4:57:17 PM PST · by WOBBLY BOB · 12 replies
    pioneer press ^ | 1-8-12 | Mila Koumpilova
    A $409 million tab projected for retiree benefit costs looms for the cash-strapped St. Paul Public Schools. Some on the school board are urging the district to tackle the liability more aggressively. But officials say there's little they can do to put a dent in the costs, which have bumped up tax bills and diverted money from the classroom. St. Paul recently started socking away money to help cover the benefits, slated to sunset in 2014. But the investment came later and started out smaller than planned, and recent market turmoil chipped away at it. "I feel we're throwing a...
  • Will Republicans Commit Romney-cide?

    01/08/2012 5:57:08 PM PST · by ElIguana · 43 replies
    GrassTopsUSA ^ | 01/08/2012 | America's Conservative News
    Since 1976, every time the GOP has run a RINO for president, the party has suffered an ignominious defeat – against a peanut farmer in ’76, a serial lecher in ’92 and a Marxist in 2008. But Mitt Romney isn’t taking any chances. Should he secure the nomination, his primary campaign will ensure his defeat in November – 9% unemployment, a national debt hurtling toward the abyss, socialism and surrender notwithstanding.
  • Solar power failures adding up

    01/08/2012 6:05:28 PM PST · by Libloather · 14 replies
    OC Register ^ | December 27, 2011
    Solar failuresThe Orange County Register December 29, 2011 10:03 AM Sooner or later, the laws of economics prevail, even in heavily subsidized industries like solar power. The latest evidence that government manipulation cannot overcome economic reality is the decision by BP PLC, the giant British energy company, to leave the solar power business. BP has developed solar energy for 40 years and for more than a decade touted its “Beyond Petroleum” campaign. The Wall Street Journal suggested, however, that BP’s solar experiment was more gimmick than serious investment. BP spent millions trying to go green, but simultaneously spent billions on...
  • Rogue Obama Plans to Forgive Mortgages and We Can't Say the Country is Screwed?

    01/05/2012 11:58:11 AM PST · by Kaslin · 41 replies
    Rush ^ | January 5, 2012 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Oh, jeez. I just heard something. You know, I really like Dana Perino. Maybe I ought to stop there. Greetings, ladies and gentlemen, and welcome. It's Rush Limbaugh from high atop the EIB Building at the EIB Southern Command in a hidden location heavily fortified here in South Florida. The telephone number if you want to be on the program, 800-282-2882. The e-mail address, Well, she said she was listening to Huntsman yesterday, heard Huntsman say that the country is screwed. She said, (paraphrasing) "That's not presidential. That's not the way we want to talk, to...
  • The New American Dream: Rent, Don’t Buy

    01/04/2012 4:18:16 PM PST · by SeekAndFind · 14 replies
    Fiscal Times ^ | 01/04/2012 | By STEVE YODER
    Call it the Big Selloff—America is headed toward a future in which fewer people own the spaces they call home. The effective homeownership rate, which excludes borrowers whose homes are underwater, stands at 62 percent, down from 69 percent in 2006, according to a 2010 report by the New York Federal Reserve. As more people move from owning to renting, apartment vacancy rates have fallen fast, from 8 percent in 2009 to 5.6 percent in third quarter 2011. That’s pushed up rents in all markets by 2.5 percent, including apartments and single-family homes, to an average of $846 nationwide, according...
  • We’ve Been Impoverished and It’s Only Going to Get A Whole Lot Worse

    12/30/2011 11:40:39 AM PST · by JohnKinAK · 30 replies
    SHTFPlan ^ | 12/30/2011 | Mac Slavo
    The dollar is losing value, but this fact is not just some recent phenomenon. In case you missed the charts comparing the decline of the US dollar to the Roman silver denarius, what they show is that the US dollar has, over the course of the last one hundred years, experienced a steady decline amounting to about a 95% loss in purchasing power, closely mimicking the fall of the world’s reserve currency circa the 2nd and 3rd centuries. Every single day our central bank and the US government utilize the stealth tax known as inflation to make you poorer by...

    12/26/2011 5:12:30 PM PST · by dc27 · 11 replies
    youtube ^ | debtlimitusa
    Explanation of the debt limit

    12/21/2011 2:13:36 PM PST · by blam · 12 replies
    Pragmatic Capitalism ^ | 12-21-2011 | Cullen Roche
    HOISINGTON: NO WAY TO AVOID RECESSION IN 2012 21 December 2011 by Cullen Roche The great bond fund manager, Van Hoisington, is joining the growing list of those calling for recession in 2012. In a recent interview with Barrons he says 2012 is a year of global recession that the USA will not be immune to it: “Our expectation is that we are going to enter another recession next year, when we haven’t really fully recovered from the previous one. We think we are in what Niall Ferguson, a Harvard historian, recently termed a slight depression. This isn’t a normal...
  • Russia Ramps Up New 'Satan' Nuke After U.S. Talks Breakdown

    12/20/2011 3:01:34 PM PST · by Just4Him · 37 replies
    AOL ^ | 12/19/2011 | Carlo Munoz
    This new intercontinental ballistic missile, nicknamed "Satan" by Western analysts, will sport a 100-ton warhead and replace the Voevoda-class missile in the Russian nuclear arsenal, according to recent news reports. This massive ICBM will take its place alongside the Yars, Topol-M and Bulava-class ballistic missiles sometime in 2015, according to Sergei Karakaev, head of Russia's Strategic Missile Forces. Development of the new ICBM will coincide with plans to revamp the country's missile silo complexes over the next decade, Karakaev told Russian media. Moscow's decision to accelerate work on the new "Satan"-class ICBM was directly tied to recently failed missile defense...
  • Austerity, This Is Not Moving beyond the Budget Control Act

    12/20/2011 3:18:02 PM PST · by LucianOfSamasota · 3 replies
    National Review ^ | December 20, 2011 | Andrew Stiles
    Given a lot of the rhetoric coming out of Washington and mainstream media outlets these days, one could be forgiven for believing that the United States has entered a new age of unprecedented austerity. This is hardly the case. Indeed, despite the best efforts of an insurgent Republican majority in the House of Representatives — elected in 2010 as a rebuke to Democratic fiscal recklessness — federal spending continues to rise.
  • Berenson barred from leaving Peru

    12/17/2011 6:54:11 PM PST · by Free ThinkerNY · 16 replies
    Associated Press ^ | Dec. 17, 2011 | FRANK BAJAK
    LIMA, Peru (AP) -- Peru's government abused its authority by barring paroled U.S. activist Lori Berenson and her 31-month-old son from leaving the country to spend the holidays in New York City with her family, her lawyer charged Saturday. "Administratively, you can't block a court order," Anibal Apari said after Berenson told The Associated Press that she and her son Salvador were prevented from boarding a flight Friday night despite being granted permission in court.
  • More Upside For Gold As Government Spending Continues Unabated

    12/16/2011 4:51:46 PM PST · by blam · 7 replies
    The Daily Reckoning ^ | Bill Bonner
    More Upside For Gold As Government Spending Continues Unabated By Bill Bonner 12/16/11 Baltimore, Maryland – Have yourself a merry little depression. Dow up 45 points. Gold down $9. We’re still waiting for a major correction in the gold market. Each time one begins, it seems to run out of steam before doing any real damage. At yesterday’s closing price, $1,577, gold is still solidly ahead for the year. So, where’s the soft spot? Where’s the test? Where will it come from? When? Don’t worry, dear reader, Mr. Market will test us. He’ll throw his curve ball. We have to...
  • Fitch Downgrades a Bunch of Banks, Including Bank of America and Goldman

    12/15/2011 1:35:12 PM PST · by tcrlaf · 9 replies
    WSJ ^ | 12-15-11 | Mark Gongloff
    Fitch just downgraded a bunch of global banks, including Bank of America and Goldman Sachs. Fitch cited “increased challenges the financial markets face,” including a rocky economy and regulatory risk.
  • Barack Obama on economic crisis: 'We didn't know how bad it was'

    12/13/2011 5:24:27 PM PST · by ColdOne · 62 replies
    Politico44 ^ | 12/13/11 | JENNIFER EPSTEIN
    President Barack Obama said Tuesday he wishes he knew the full extent of the economic crisis when he took office, if only so he could have let Americans know just how tough the coming years would be. "I think we understood that it was bad, but we didn’t know how bad it was,” Obama said in an interview with KIRO in Seattle. "I think I could have prepared the American people for how bad this was going to be, had we had a sense of that." Obama’s comments came as he sat down with a string of local TV reporters...
  • California cuts to affect students, poor, disabled

    12/13/2011 5:36:24 PM PST · by SmithL · 29 replies
    AP via SFGate ^ | 12/13/11 | JUDY LIN, Associated Press
    Gov. Jerry Brown on Tuesday ordered $1 billion in midyear cuts to California's budget that will result in pain for students who rely on school buses to get to class, mothers who depend on child care subsidies to keep working and support programs for the developmentally disabled. Brown, a Democrat, said that the state's revenues will fall about $2.2 billion below the $88.4 billion he and state lawmakers had hoped for when they passed the budget last summer. The announcement was not surprising and could have been worse. The state's legislative analyst had predicted revenues would fall $3.7 billion below...
  • Hendry's 'China Short' Fund Makes Big Returns

    12/12/2011 6:52:12 PM PST · by TigerLikesRooster · 6 replies
    CNBC ^ | 12/12/11 | Sam Jones
    Hendry's 'China Short' Fund Makes Big Returns Published: Monday, 12 Dec 2011 | 9:08 PM ET By: Sam Jones, Hedge Fund Correspondent Shorting the credit of companies positioned to do badly from a Chinese slowdown has proved to be one of the hedge fund industry’s most successful trades of 2011. Hugh Hendry, the outspoken U.K. hedge fund manager known for his bearish, often contrarian views on the global economy, has seen his ‘China short’ fund rack up gains of more than 52 percent so far this year, investors have told the Financial Times. The gains compare to a loss for...
  • U.K. to Eurozone Nations: We're Out, Good Luck

    12/08/2011 10:56:08 PM PST · by tcrlaf · 145 replies
    CBS NEWS ^ | 12-9-11 | CBS/AP
    The 17 eurozone states and six other EU countries agreed early Friday to create a new treaty that will allow them to introduce stricter fiscal rules in the hope of containing a worsening debt crisis, but Britain's prime minister immediately threatened to block the new accord. The failure to get agreement among all 27 members of the European Union at a summit meeting in Brussels reflected in large part a deep split between France and Germany on the one hand and Britain on the other. France and Germany are the two largest economies in the eurozone; Britain does not use...
  • 6 Awesome Math Tricks That Will Make Your Life So Much Easier (Very useful for investors)

    12/06/2011 12:08:26 PM PST · by SeekAndFind · 34 replies
    Business Insider ^ | 12/06/2011 | Eric Platt
    You're on the trading floor, trying to price out if a 15-year bond issued by General Electric will generate the returns needed to placate your investors. Bad news, your calculator is dead and the trader from Cantor Fitzgerald is readying to signal his buy. What to do? Well, if all you need to do is double the investment in five-years, you're in luck. That's probably not the case, and GE probably isn't issuing 15-year debt. But we compiled a list of six math tricks that might just come in handy. If you have a math trick you'd like us to...
  • Fox Rejects Anti-Obama/ Bernanke Ads Advocating Gold & Silver As Protection Against Inflation

    12/03/2011 6:13:56 PM PST · by Comparative Advantage · 58 replies
    SilverDoctors ^ | December 3, 2011
    Major news networks have all rejected two animated television spots developed by Phoenix-based Swiss America Trading Corp. depicting Ben Bernanke and President Obama printing money with abandon, and promoting ownership of gold and silver as protection against this policy. The ads have been rejected by Fox, Fox Business, CNBC, NBC, MSNBC, ABC, CBS, CNN, & the Discovery Channel.
  • Fiddling as the euro burns

    12/03/2011 5:20:54 PM PST · by bruinbirdman · 10 replies
    The Telegraph ^ | 12/3/2011 | Andrew Gilligan
    It is, said the foreign minister whose country holds the EU presidency, "the edge of a precipice the scariest moment of my ministerial life." The chief executives of Shell, Unilever and Phillips called it "one minute to midnight." Even the EU's own financial affairs commissioner, Olli Rehn, says Europe only has ten days to stop the euro falling apart. By this coming Friday, the ninth of those ten days, the continent's leaders are supposed to have agreed a plan that satisfies the markets and gives their tottering currency a future. They have tried, and failed, three times this year already....
  • Eurozone debt crisis: it's fiscal union or bust, says Pimco

    12/03/2011 4:10:09 PM PST · by bruinbirdman · 7 replies
    The Telegraph ^ | 12/3/2011 | Richard Blackden and Rachel Cooper
    European governments must rapidly commit to fiscal union or a partial break-up of the euro to prevent a "fundamental erosion" in demand for the region's debt, Pimco, the world's biggest bond investor, has warned. "They can't continue to muddle through," said Andrew Balls, who runs Pimco's European investments. "They'll either have to signal their position or you'll get a continued disengagement by investors from the eurozone." The stark assessment comes ahead of a gathering of European leaders in Brussels that has been billed as a summit that cannot afford to fail. A crisis that began in Greece almost two years...
  • Foreclosed homes, empty lots are next 'Occupy' targets

    12/02/2011 3:35:25 PM PST · by ColdOne · 16 replies ^ | 12/2/11 | Miranda Leitsinger
    ‘Occupy’ protesters and housing rights activists are planning to help families resist eviction from foreclosed homes and take control of vacant properties in some 25 U.S. cities on Tuesday, an effort aimed at focusing attention on the ongoing housing crisis and giving the movement a new focus after the dismantling of many of its encampments. The protesters have been crafting proposals – often quietly to prevent police from learning about their intentions beforehand -- to defend families facing eviction or return others home. In Minneapolis, for example, they plan to help a Vietnam War veteran stay in his home, in...
  • Have You Heard About The $16T Bailout The Federal Reserve Handed To The Too Big To Fail Banks?

    12/02/2011 8:59:01 AM PST · by SeekAndFind · 35 replies · 1+ views
    The Economic Collapse ^ | 12/01/2011 | Michael Snyder
    What you are about to read should absolutely astound you. During the last financial crisis, the Federal Reserve secretly conducted the biggest bailout in the history of the world, and the Fed fought in court for several years to keep it a secret. Do you remember the TARP bailout? The American people were absolutely outraged that the federal government spent 700 billion dollars bailing out the "too big to fail" banks. Well, that bailout was pocket change compared to what the Federal Reserve did. As you will see documented below, the Federal Reserve actually handed more than 16 trillion dollars...
  • Contagion Catastrophe: Europe is closer than you think to bringing down the American Economy

    12/02/2011 9:02:26 AM PST · by SeekAndFind · 19 replies
    National Journal ^ | 12/02/2011 | By Jim Tankersley
    This is the worst-case scenario from Europe, and it just might come true: Italy defaults on its debts. Every major Italian bank collapses. Recession grips the eurozone. Sovereign defaults and bank failures ripple across the Continent. Saddled with bad loans to nations and lenders in Europe, American banks hemorrhage cash. Credit freezes in the United States. Multinational companies, unable to raise money, curb U.S. investment and hiring. Wall Street demands, but fails to get, new bailouts. The entire developed world plummets into recession and, quite possibly, depression. This, in contrast, is the placid warning that President Obama gave Americans about...
  • US to backdoor Euro bailout through new IMF credit facility

    11/28/2011 4:17:44 PM PST · by Qbert · 21 replies
    Examiner ^ | November 22, 2011 | Kenneth Schortgen Jr, Finance Examiner
    In 2008, the United States government and Federal Reserve helped bailout European banks to the tune of trillions of dollars.  The reactions to this by Congress and the public ensured that any future bailouts would have to be performed through the use of a proxy institution. It appears that this proxy institution has been found, as the IMF on November 22nd just opened a new credit facility with the primary purpose of providing liquidity to sovereign nations, especially those currently in the Euro Zone. IMF talking points on new credit facility * IMF APPROVES CREDIT LINE PROGRAM CHANGES TO PROVIDE...
  • Five Budgets for a Broke-Down and Busted Amerika (By gold )

    11/22/2011 2:35:12 PM PST · by Hojczyk · 1 replies ^ | November 22,2011 | Nick Gillespie
    President Obama wants to spend $3.7 trillion next year and $5.7 trillion in 2021. Rep. Paul Ryan (R-Wis.) wants to spend $3.6 trillion next year and $4.7 trillion in 2021. The Republican Study Committee (RSC) wants to spend $3.6 trillion next year and $4.2 trillion in 2021. Rand Paul wants to spend $3.7 trillion next year and $3.4 trillion in 2016. The Congressional Progressive Caucus (CPC) has a "People's Budget" outline that, in keeping with representing a math-averse nation, doesn't include anything as straightforward as a series of annual-outlay numbers, though it does promise that outlays and revenues in 2021...
  • Very slow growth 2012 then long bear to 2020

    11/22/2011 12:53:21 PM PST · by 1010RD · 18 replies
    Marketwatch ^ | Nov. 22, 2011 | Paul B. Farrell
    SAN LUIS OBISPO, Calif. (MarketWatch) — “Top advisers see very slow growth in 2012.” That headline is screaming at Americans in “InvestmentNews: The Leading News Source for Financial Advisers” and most trusted. Get it? Not just “slow growth,” but “very slow growth in 2012.” Another even predicted “very slow, measured growth for two, three years.” Actually it’s far worse. Folks, this is not some worried bull hyping naďve investors, not a Wall Street bank analyst, a Washington politician covering his butt, nor one of Mad Money’s market mavericks. No, this comes from the most respected news source reporting to America’s...
  • BILL FLECKENSTEIN: The Money Printing Era Will Implode In One Or Two Years

    11/01/2011 1:55:28 PM PDT · by blam · 8 replies
    TBI ^ | 11-1-2011 | Gus Lubin
    BILL FLECKENSTEIN: The Money Printing Era Will Implode In One Or Two Years Gus Lubin Nov. 1, 2011, 3:39 PM Bill Fleckenstein recommends gold above all as a hedge against money printing from the Fed and the ECB. In one or two years you'll be thankful, he tells King World News: Tomorrow the Fed is probably going to bring QE3 and meanwhile Europe is in a state of disarray. All of that will sort itself out bullishly for gold even if were to decline for the next couple of days. The Japanese, the British, the Swiss, the Americans are all...
  • Analysis: Wild market may send investors home early in 2011

    11/01/2011 2:39:05 PM PDT · by markomalley · 1 replies
    Reuters ^ | Nov 1, 2011 | Steven C. Johnson
    So much for euphoria. Having soared just days ago on a pledge by European leaders to prop up euro zone banks and stem the spread of a festering debt crisis, world stock markets and the euro came crashing back to earth this week as Greece's government hovered near collapse. The decision by Greece's prime minister to subject a just-agreed bailout to referendum was the last thing markets wanted to hear. A defeat by Greek voters could see Greece ejected from the euro zone and thrust into default, a scenario investors fear could spark a run on banks that have lent...
  • Pelosi Supports Occupy Wall Street Movement

    10/09/2011 1:30:07 PM PDT · by Borough Park · 38 replies
    By JESSICA DESVARIEUX WASHINGTON, Oct. 9, 2011 House Democratic Leader Rep. Nancy Pelosi, D-Calif., said she supports the growing nationwide Occupy Wall Street movement, which began on the streets of downtown New York City in mid-September. "I support the message to the establishment, whether it's Wall Street or the political establishment and the rest, that change has to happen," said Pelosi in an exclusive interview with ABC News "This Week" anchor Christiane Amanpour. "We cannot continue in a way this is not relevant to their lives." Pelosi sees the protestors' anger stemming from unemployment, which remains above 9 percent.
  • US Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative

    08/05/2011 6:52:37 PM PDT · by NoLibZone · 128 replies
    Standard & Poor's ^ | August 5 2011 | S & P
    We have lowered our long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term rating.We have also removed both the short- and long-term ratings from CreditWatch negative.The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics.More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges...