ONLY THE MOST RELEVANT NEWS TO HELP YOU STAY AHEAD

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EXCLUSIVE REPORTS:

1. 7 INVESTMENT IDEAS FOR THE WORST CASE SCENARIO

2. EXPERT ECONOMIC PREDICTIONS 2010

3. THE RETURN OF DEBTORS’ PRISONS

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Fears grow over global food supply

September 03, 2010: FT.com — Wheat prices rose further on Friday in the wake of Russia’s decision to extend its grain export ban by 12 months, raising fears about a return to the food shortages and riots of 2007-08.

‘Recovery Summer’ Ends With Economic Pothole

September 03, 2010: NPR.org — Whatever happened to recovery summer?  This was supposed to be the season the economy heated up, thanks to a wave of public works projects, funded by the government’s stimulus program. But summer is coming to an end, and the recovery has not taken root. Forecasters are expecting another gloomy employment report on Friday.

Unemployment rate rises in almost half of largest metro cities in July

September 02, 2010: (AP) — The unemployment rate rose in nearly half of the nation’s 372 largest metro areas in July, as the pace of hiring slowed from earlier this year.

Problem bank list climbs to 829

September 02, 2010: (CNNMoney.com) — The government’s list of troubled banks hit its highest level since 1993 during the second quarter, although the pace of growth continued to slow, according to a government report released Tuesday.

U.S. Auto Sales May Hit 28-Year Low as Discounts Flop

September 01, 2010: Bloomberg.com — U.S. auto sales in August probably were the slowest for the month in 28 years as model-year closeout deals failed to entice consumers concerned the economy is worsening and they may lose their jobs.

30 Statistics That Prove The Elite Are Getting Richer, The Poor Are Getting Poorer And The Middle Class Is Being Destroyed

September 01, 2010: TheEconomicCollapseBlog.com — Not everyone has been doing badly during the economic turmoil of the last few years.  In fact, there are some Americans that are doing really, really well.  While the vast majority of us struggle, there is one small segment of society that is seemingly doing better than ever.

Investors Spooked As Glitch Sends Gold To $3400

September 01, 2010: Prisonplanet.com — Investors were briefly panicked yesterday when the Yahoo Finance website indicated that gold had soared to over $3400 dollars an ounce, an instant jump of 175 per cent. Possible reasons for the shocking spike ranged from a simple mistake to a secret signal being communicated to insiders as to where the commodity was really heading.

The Death Of Cash? All Over The World Governments Are Banning Large Cash Transactions

August 31, 2010: TheEconomicCollapseblog.com — Are we witnessing the slow but certain death of cash in this generation?  Is a truly cashless society on the horizon?  Legislation currently pending in the Mexican legislature would ban a vast array of large cash transactions, but the truth is that Mexico is far from alone in trying to restrict cash.

US pay law branded ‘logistical nightmare’

August 31, 2010: FT.com — US companies face a “logistical nightmare” from a new rule forcing them to disclose the ratio between their chief executive’s pay package and that of the typical employee, lawyers have warned.

Broke Miami Breaking Employee Contracts

August 30, 2010: NBC – The city of Miami is so broke it’s forcing employees to take pay cuts, even though they’re under contract.  Mayor Tomas Regalado said he’s never seen a financial mess like this before, and his options are grim.  “It’s either that or we layoff 1,000 employees or we raise taxes to the max, and we’re not raising taxes to the max,” the mayor said.

Homelesssness up 50% In NYC

August 30, 2010: MYFOXNY.COM – If you think you’ve been seeing more people sleep on city streets, statistics back up the perception. The homeless population living on New York City streets has gone up 50 percent in the past year, according to city statistics reported by the HellsKitchenLife.com blog.

Mexico to ban payment in cash

August 29, 2010: PressTV.ir — President Felipe Calderon put forward the sweeping new measures Thursday to crack down on billions of dollars of the illicit money gained by the drug cartels and spent by them for more profit.   “This illicit money is vital for the criminal. That is what they seek, this money. It is also vital to finance their activities,” said Calderon, The Washington Post reported on Thursday.

Mortgage brokers are becoming a vanishing breed

August 28, 2010: USAToday.com — Most of the mortgage brokers that seemed to populate every office building and commercial street in cities nationwide just five years ago have vanished.

10 Leading Retailers Close Stores; Exodus of Small Retailers Amidst Signs of “Free Rent”; 700,000 Drop Cable TV Subscriptions

August 28, 2010: globaleconomicanalysis.blogspot.com — Signs of weak consumer discretionary spending are popping up in multiple places. For example Subscriber growth suddenly stops for cable TV industry

Scarcity of jobs puts more at risk of foreclosure

August 27, 2010: (AP) — The jobs crisis is putting more Americans at risk of losing their homes.  One in 10 households has missed at least one mortgage payment, and more than 2 million homes have been repossessed since the recession began. Few expect the outlook to improve until companies start to hire steadily again and layoffs ease.

Bancor: The Name Of The Global Currency That A Shocking IMF Report Is Proposing

August 26, 2010: TheEconomicCollapseBlog.com — Sometimes there are things that are so shocking that you just do not want to report them unless they can be completely and totally documented.  Over the past few years, there have been many rumors about a coming global currency, but at times it has been difficult to pin down evidence that plans for such a currency are actually in the works.  Not anymore.  A paper entitled “Reserve Accumulation and International Monetary Stability”

10 Practical Steps That You Can Take To Insulate Yourself (At Least Somewhat) From The Coming Economic Collapse

August 26, 2010: TheEconomicCollapseBlog.com — Most Americans are still operating under the delusion that this “recession” will end and that the “good times” will return soon, but a growing minority of Americans are starting to realize that things are fundamentally changing and that they better start preparing for what is ahead.

The trillion dollar bailout you didn’t hear about: Commercial Real Estate

August 25, 2010: MyBudget360.com — The latest data on existing home sales should tell you exactly where we are in this so called recovery.  Average Americans are unable to purchase big ticket items without massive government subsidies.  It is also the case that all the too big to fail banks are standing only because of the generous support of taxpayer money.

Economy Caught in Depression, Not Recession: Rosenberg

August 25, 2010: CNBC.com — Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday.

“Hinderburg Omen” Creator Exist Stock Market

August 25, 2010: WSJ.com — The Hindenburg Omen reared its ugly head late last week, signaling more doom and gloom as stocks plod along amid the dog days of summer.

Low prices and rates can’t slow fall in home sales

August 25, 2010: (AP) — Home prices in many parts of the country scream bargain, and mortgage rates haven’t been this low for decades. So why are houses across the nation sitting on the market for so long?

Americans Using Their Rainy Day Savings to Live

August 24, 2010: Blog.RebelTraders.net — Recently I commented on the outflow of money from mutual funds and the increase in 401K hardship withdraws.  Today the New York Times carries the story further by stating that investors have simply given up on the stock market. While this may indeed be true that investors simply don’t trust it anymore, and who could blame them, I contend that there is still a significant percentage of those pulling money from stocks who need the funds to live.

US Preparing to Seize Retirement Accounts via Auto IRA?

August 24, 2010: LewRockwell.com — First They Destroy Private Healthcare in America – Yes, the socialist Democrats won their first battle to destroy the private healthcare system in the US but the automatic IRA bill now in Congress is their next attack to also control, confiscate and destroy the private retirement system.

Towns block chain restaurants to save charm

August 18, 2010: USAToday.com — SPRINGDALE, Utah — Surrounded on three sides by the soaring red rock cliffs of Zion National Park, this town of about 500 has the kind of charm one would expect from a tiny tourist burg in a scenic location.

18 Signs That America Is Rotting Right In Front Of Our Eyes
August 18, 2010: theeconomiccollapseblog.com — Sometimes it isn’t necessary to quote facts and figures about government debt, unemployment and the trade deficit in order to convey how badly America is decaying.

US Says Bankruptcies Reach Nearly 5-Year High

August 18, 2010: CNBC.com — U.S. bankruptcy filings have reached the highest level since 2005, government data released on Tuesday show, as the economy slows and the unemployment rate hovers just below double digits.

Schools issue Expanded “Must-Bring” Lists

August 16, 2010: NYT — When Emily Cooper headed off to first grade in Moody, Ala., last week, she was prepared with all the stuff on her elementary school’s must-bring list: two double rolls of paper towels, three packages of Clorox wipes, three boxes of baby wipes, two boxes of garbage bags, liquid soap, Kleenex and Ziplocs.

Pension check may not be in the mail

August 16, 2010: ChicagoTribune.com — Illinois public employees who think the state constitution guarantees that they’ll get all their pension benefits may have another think coming.  Politicians’ and public labor unions’ assurances aside, there’s another, not-well-publicized school of thought that says if the pension funds go bust, the state has no obligation to step in to pay the benefits. This runs contrary to the popular view that the Illinois Constitution, on its face, guarantees that all public employee pension benefits will be fully paid.

The Hindenburg Omen Indicates Stock Market Crash is Coming

August 14, 2010: ActivistPost.com — On Thursday August 12, the US equities market triggered a confirmed technical indicator known as the “Hindenburg Omen.” This omen, as you may have guessed, suggests that a stock market crash is on the way. However, it doesn’t mean just any crash — according to Albert Edwards, a London-based strategist at Societe Generale SA, the indicator means “a savage equity downturn is imminent.”

Illinois Bank Fails; Total Reaches 110

August 14, 2010: (AP) — Regulators on Friday shut down a bank in Illinois, bringing to 110 the number of bank failures this year.

An Argentina-like Economic Crisis

August 13, 2010: AmericanThinker.com — The United States’ economic decline precariously resembles Argentina’s economic collapse, which started in 1998 and landed Argentina in a depression by the end of 2000.

Russia: Iran’s nuclear plant to get fuel next week

August 13, 2010: AP — Russia announced Friday it will begin the startup next week of Iran’s only atomic power plant, giving Tehran a boost as it struggles with international sanctions and highlighting differences between Moscow and Washington over pressuring the Islamic Republic to give up activities that could be used to make nuclear arms.

India eyes Google and Skype in security crackdown

August 13, 2010: USAToday.com — India may ask Google and Skype for greater access to encrypted information once it resolves security concerns with BlackBerrys, which are now under threat of a ban, according to a government document and two people familiar with the discussions.

Seven Reasons Not to Send Your Kids to College
August 13, 2010: DailyFinance.com — Imagine a retirement where you could have an extra $1million to $3 million in the bank with basically no effort. Now imagine telling your kids that you aren’t going to send them to college. And, you go on, you want them to immediately start a business or get to work as soon as they finish high school.

Report: Food Prices Already Starting to Skyrocket

August 12, 2010: MoneyNews.com — Experts warn that overall food-price inflation is inevitable, as Wal-Mart reportedly has already hiked prices amid a recent jump in wheat prices and the failure of the Russian harvest.  The most immediate impact will be felt in the price of bread and bakery products but other food items which make use of grain will also rise, according to analysis from Verdict research. This includes some meat products where grain is used as animal feed.

Youth Unemployment Hits Record High

August 12, 2010: CNBC.com — Global youth unemployment has hit a record high following the financial crisis and is likely to get worse later this year, the International Labor Organization (ILO) said Thursday.

Jobs picture dims as unemployment claims rise

August 12, 2010: (AP) — The employment picture is looking bleaker as applications for jobless benefits rose last week to the highest level in almost six months.

Obama Administration Clears $600M Against Foreclosures

August 12, 2010: (Dow Jones)–Five states hit hard by the housing bust can start using $600 million to help jobless homeowners avoid foreclosure, the Treasury Department said Wednesday.  Housing finance agencies in North Carolina, Ohio, Oregon, Rhode Island and South Carolina will receive the funds to carry out programs locally.

Student-Loan Debt Surpasses Credit Cards

August 12, 2010: WSJ — Consumers now owe more on their student loans than their credit cards.  Americans owe some $826.5 billion in revolving credit, according to June 2010 figures from the Federal Reserve. (Most of revolving credit is credit-card debt.) Student loans outstanding today — both federal and private — total some $829.785 billion, according to Mark Kantrowitz, publisher of FinAid.org and FastWeb.com.

Judge orders Wells Fargo to change overdraft policy, return $203 million in fees to customers

August 12, 2010: (AP) — A federal judge in California ordered Wells Fargo & Co. to change what he called “unfair and deceptive business practices” that led customers into paying multiple overdraft fees, and to pay $203 million back to customers.

Fed downgrades recovery outlook

August 11, 2010: FT.com — The US Federal Reserve on Tuesday took a first step toward extending its crisis-era monetary policy regime, as it downgraded its view of the economic outlook amid rising fears of a “double-dip” recession.

Florida AG proposes law against illegal immigrants

August 11, 2010: (Reuters) – Florida Attorney General Bill McCollum on Wednesday proposed legislation that would toughen law enforcement measures against illegal immigrants in the melting-pot southeastern U.S. state.

Thousands of online banking customers have accounts emptied by ‘most dangerous trojan virus ever created’

Iran Retaliates Against Sanctions: To Drop All Trade In “Filthy” Euro, Dollar

August 11, 2010: ZeroHedge.com — Yet another step in the escalation between Iran and the US came earlier today, this time in the form of some trade war shots, after the leading economic daily Doniye e-Ektesad quoted First Vice President Mohammad Reza Rahimi as saying that “We are going to remove dollar and euro from our foreign currency basket and replace them with (Iranian) rial and all other currencies of the countries which accept to cooperate with us.

When Will Financial Armageddon Begin?

August 10, 2010: USAWatchdog.com — Williams also predicted 2 years ago we would have a “hyperinflationary depression” within 10 years. Then, about a year ago, he revised his prediction and narrowed the window to “five years.” The day before last Friday’s dismal jobs report, Williams said, “. . . the timing of the looming U.S. financial Armageddon is coming into better focus, with increasingly high risk of it breaking within the next six months to a year.”

The Depression Of 2011? 23 Economic Warning Signs From Financial Authorities All Over The Globe

August 10, 2010: TheEconomicCollapseBlog.com — Could the world economy be headed for a depression in 2011?  As inconceivable as that may seem to a lot of people, the truth is that top economists and governmental authorities all over the globe say that the economic warning signs are there and that we need to start paying attention to them.

Rare Earth Elements: The World Is Rapidly Running Out And China Has Most Of The Remaining Supply

August 10, 2010: TheEconomicCollapseBlog.com — Most people have no idea what rare earth elements are, but a wide array of the technologies that we use every single day are dependent on them.  Without rare earth elements, we would have no hybrid car batteries, flat screen televisions, cell phones or iPods.  Without rare earth elements, the entire “green economy” would not be able to function, because almost all emerging green technologies use them.

JP Morgan Chase To Create Global Corporate Bank

August 09, 2010: Sueliz1.wordpress.com — JPMorgan Chase emerged from the financial crisis as one of the strongest banks on American soil. Now it wants to make up lost ground overseas, Eric Dash reports in The New York Times.

U.S. electricity blackouts skyrocketing

August 09, 2010: CNN.com — New York’s Staten Island was broiling under a life-threatening heat wave and borough President James Molinaro was seriously concerned about the area’s Little League baseball players.

Thousands May Lose Section 8 Rental Vouchers

August 09, 2010: NYTimes.com — Because of a $45 million budget gap, the New York City Housing Authority may have to revoke rental-assistance vouchers from more than 10,000 low-income tenants, a drastic move that could cause families to lose their apartments.

Castro returns with apocalyptic warnings

August 09, 2010: FT.com — The most recent UN sanctions on Iran would trigger a nuclear holocaust if the US inspected the country’s ships come September, as called for in the June resolution. Only world pressure on US President Barack Obamacould avert the conflagration that would bring all leading economies to a stand still, he warned.

U.S. Economy Grinds To Halt As Nation Realizes Money Just A Symbolic, Mutually Shared Illusion

August 07, 2010: TheOnion.com — The U.S. economy ceased to function this week after unexpected existential remarks by Federal Reserve chairman Ben Bernanke shocked Americans into realizing that money is, in fact, just a meaningless and intangible social construct.

2 sentenced in mortgage scam that took New York families’ homes

August 07, 2010: (AP) — A husband and wife who took part in a fake mortgage scheme have been sentenced to 2 to 6 years in prison.  Four Westchester County families lost their homes in the scam.

Consumers cut back on credit cards again in June

August 07, 2010: USAToday.com — Consumer borrowing fell in June for a fifth straight month as households keep cutting back on credit card use.  Borrowing dropped at an annual rate of $1.3 billion in June, the Federal Reserve reported Friday. That marked the 16th drop in overall credit in the past 17 months.

US national park faces sale

August 07, 2010: Guardian.co.uk — Some might call it blackmail. The governor of Wyoming calls it desperation.  Governor Dave Freudenthal is threatening to sell off a chunk of one of America’s most beautiful national parks unless the Obama administration comes up with more money to pay for education in the financially beleaguered state.

U.S. wheat, corn prices surge after Russia bans exports

August 06, 2010: USAToday.com — Russia, one of the world’s largest exporters of wheat, is facing a shrunken crop due to a severe drought. Its announcement Thursday that it will ban grain exports through the end of the year to control domestic prices raises the possibility of stronger-than-expected U.S. exports.  That caused a surge in the price of U.S. wheat, which in turn lifted corn and soybean prices.

IRS rule to end release of debt info threatens refund-anticipation loans

August 06, 2010: USAToday.com — The IRS said Thursday that it will no longer provide tax preparers and lenders with information that helps them decide whether to offer a taxpayer a refund-anticipation loan, a move that could sharply reduce the sale of the products.

Jobless claims raise doubts about economy

August 06, 2010: (Reuters) – New claims for unemployment benefits unexpectedly rose last week to the highest level since early April, highlighting a weak labor market and the fragile economic recovery.

Social Security in the red this year

August 05, 2010: WashingtonTimes.com — Social Security will pay out more this year than it gets in payroll taxes, marking the first time since the program will be in the red since it was overhauled in 1983, according to the annual authoritative report released Thursday by the program’s actuary.

US Postal Service loses $3.5 bln in third quarter

August 05, 2010: (Reuters) – The U.S. Postal Service reported a quarterly net loss of $3.5 billion on Thursday and said it will likely have a cash shortfall going into 2011.

And Scene: ICI Reports 13th Consecutive Week of Massive Domestic Equity Outflows As Banks Start To Panic

August 05, 2010: ZeroHedge.com — What more can we say here that we have not said for 12 times in a row already. Retail investors are dunzo. The latest update from ICI shows that the week ended July 28 saw a record 13th consecutive outflow from domestic mutual funds as stocks bloody surged.

Food stamp use hit record 40.8m in May

August 05, 2010: Boston.com — The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

The New Credit-Card Tricks

August 04, 2010: WSJ — Whomever President Barack Obama taps to head the new Bureau of Consumer Financial Protection could find it difficult to keep ahead of the credit-card industry.

Missouri voters approve challenge to federal healthcare law

August 04, 2010: TheIntelHub.com — Striking a largely symbolic blow at President Obama‘s healthcare overhaul, Missouri voters approved a ballot measure Tuesday challenging the new law’s requirement that Americans buy health insurance starting in 2014.

China Tells Banks to Stress Test for 60% Home-Price Drop

August 04, 2010: Bloomberg — China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60 percent in the hardest-hit markets, a person with knowledge of the matter said.

Countrywide agrees to pay $600M in largest subprime crisis settlement

August 03, 2010: (AP) — Countrywide Financial has agreed to pay $600 million to settle shareholder lawsuits in the largest payout so far from the mortgage meltdown.

Geithner: unemployment could rise

August 03, 2010: (Reuters) – Treasury Secretary Timothy Geithner said the U.S. unemployment rate could rise for two months before it drops, potentially deepening Democrats’ problems in the November congressional elections.

World oil prices approach $82

August 03, 2010: BreitBart — Oil prices stretched towards 82 dollars per barrel on Tuesday, on the back of buoyant market sentiment, the weak dollar and hurricane concerns in the US Gulf of Mexico, analysts said.

Americans who swap passports

August 03, 2010: FT.com — At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship, as they seek shelter from the Internal Revenue Service.

New Rules Could Erase Debt Settlement Industry

August 02, 2010: MoneyTalksNews.com –Unless you’ve been living in a cave for the last several years, you’ve seen and heard debt settlement ads – the ones that make is appear that eliminating credit card debt is as simple as paying “pennies on the dollar.”

Homeownership rate continues to slide

August 2, 2010: USAToday.com — Millions of houses on the verge of foreclosure threaten to send homeownership to its lowest level in 50 years, according to new industry estimates.

Are the American people obsolete?

August 2, 2010: Salon.com — The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate

Least and Most Expensive Cities For Living in the U.S.A.

August 2, 2010: Yahoo — It’s hard to beat the low cost of living in the South. Seven of the ten least expensive cities on our list are in Texas, Arkansas, Kentucky and Tennessee.

Regulators close banks in Fla., Ga., Ore., Wash.

July 31, 2010: (AP) — Regulators on Friday shut banks in Florida, Georgia, Oregon and Washington, lifting to 108 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession.

IMF Says U.S. Financial System May Need $76 Billion in Capital

July 31, 2010: Bloomberg — The U.S. financial system remains fragile and banks subjected to additional economic stress might need as much as $76 billion in capital, according to the results of International Monetary Fund stress tests.

Look What Surprises They Snuck Into The Financial Reform Bill

July 31, 2010: TheEconomicCollapseBlog.com — Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long.  But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.  In fact, the final version of the new financial reform law was over 2,300 pages.

Interactive Map of State Budget Gaps

July 30, 2010: WSJ — Most states have addressed or still face gaps in their budgets totaling $121 billion for fiscal year 2011.

NY AG announces probe of life insurance industry

July 30, 2010: (AP) — State Attorney General Andrew Cuomo said Thursday that he had opened a fraud investigation into how life insurers pay out benefits after policyholders die.

Record number of fake £1 coins could force reissue

July 30, 2010: Telegraph.co.uk –There are now so many fake £1 coins in circulation the Royal Mint could be forced to scrap all of the coins and reissue the entire denomination.

5 Reasons NOT to Pay Your Credit Cards

July 29, 2010: ActivistPost.com — We live in a matrix that goes to unspeakable expense to nurture us from the teat to be good consumers. You are issued a tax collection number at birth (SS#), another artificial number for your credit worthiness (FICO), and then you’re extended a certain amount of tokens to play “life” based on those numbers.  This virtual currency, not unlike your earned Farmville coins, only has value because you give it value.

New rule cracks down on debt settlement industry

July 29, 2010: (AP) — Companies that promise to reduce or eliminate credit card balances and other debt for customers will no longer be allowed to charge an upfront fee.  Since the start of the recession, the Better Business Bureau has received more than 3,500 complaints about debt settlement companies. Customers complained that they ended up deeper in debt or were sued by creditors after failing to make payments. The bureau did not separately track complaints against the industry prior to the recession.

Foreclosures boom among nation’s most creditworthy

July 29, 2010: USAToday.com — A record number of borrowers once judged the most creditworthy are heading into foreclosure as the job market leaves more homeowners unable to keep up with mortgage payments.

War it appears is imminent? Current drug shortages are telling the picture

July 29, 2010: TheIntelHub.com — Are we going to War?  It seems this may be true from the drug shortages which are listed on the FDA’s website. I see this as “the smoking gun”, that only stockpiling for war could explain the combination of shortages seen on their website. The government is citing increased demand as an explanation for shortages, but as usual, it is not being truthful. Only believing we are having tens of thousands more traumas than possible, along with executing every prisoner in the country, could even beset the feeblest of minds.

Schwarzenegger orders government worker furloughs

July 28, 2010: AP — Gov. Arnold Schwarzenegger on Wednesday brought back furloughs for thousands of state workers until California passes a budget that addresses a $19 billion deficit.

Judge blocks vital parts of Arizona immigration law

July 28, 2010: AZStarnet.com — A federal judge this morning blocked several critical provisions of Arizona’s new immigration law from taking effect, delivering a last-minute victory to opponents of the law that brought the state a flurry of mostly negative international attention.

Ahmadinejad says expects U.S. to attack MidEast soon

July 27, 2010: (Reuters) – Iran expects the United States to launch a military strike on “at least two countries” in the Middle East in the next three months, Iranian President Mahmoud Ahmadinejad told state-run Press TV.

Census: Moves because of evictions increase

July 27, 2010: USAToday.com — More Americans say they moved because they were evicted or wanted to spend less money and now live in a worse house with more people, new Census data show.

Oil spewing from well near Louisiana marsh

July 27, 2010: MSNBC.com — Adding insult to the Gulf’s injury, a wellhead hit by a tug boat is now spewing oil near a Louisiana marsh area, officials said Tuesday.  The oil is shooting up 20 feet into the air, the office of Plaquemines Parish President Billy Nungesser said.

As credit card holders play it safe, issuers increase non-penalty service fees

July 27, 2010: WashingtonPost.com — After the recession forced credit card companies to purge their rosters of the riskiest loans, the industry is facing a new problem: customers who are too good.

H.R. 5741 Slave bill now in Committee

July 26, 2010: Infowars — H.R. 5741 will give the president the authority “To require all persons in the United States between the ages of 18 and 42 to perform national service, either as a member of the uniformed services or in civilian service in furtherance of the national defense and homeland security, to authorize the induction of persons in the uniformed services during wartime to meet end-strength requirements of the uniformed services, and for other purposes.”

Cities View Homesteads as a Source of Income

July 26, 2010: NYTimes.com –Give away land to make money?  It hardly sounds like a prudent scheme. But in a bit of déjà vu, that is exactly what this small Nebraska city aims to do.

Goldman reveals where bailout cash went, Overseas!

July 26, 2010: USAToday.com –Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions, according to information made public Friday night.

Governor Jindal declares State of Emergency; Oil could “enter coastal homes”, evacuation orders expected today

July 24, 2010: FloridaOilSpillLaw.com — Gov. Bobby Jindal on Thursday declared a state of emergency… [The storm] was spending a lot of time over water, instead of land which would break it up. “It’s wise to prepare for a Category 1 hurricane, just in case,” the governor said…

Homelessness, conundrum for the new decade

July 24, 2010: Infowars.com — There has been an alarming increase in the number of homeless people living on the streets, in parking lots, parks and along waterways in our cities and towns over the last 12 to 18 months.

US bank failures in 2010 surpass 100

July 23, 2010: RealClearMarkets.com — The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults.

White House predicts record $1.47 trillion deficit

July 23, 2010: AP — New estimates from the White House on Friday predict the budget deficit will reach a record $1.47 trillion this year. The government is borrowing 41 cents of every dollar it spends.

U.S. credit card agreements unreadable to 4 out of 5 adults

July 23, 2010: CreditCards.com — Credit card agreements are written on average at a 12th grade reading level, making them not understandable to four out of five adults, according to a CreditCards.com analysis of all the agreements offered by major card issuers in the United States.

Bloomberg Mulling Charging For Garbage Pickup

July 23, 2010: CBS – Forget Your Taxes, Mayor Considering Additional ‘Pay As You Throw’ Fee To Help Cash-Strapped New York City.  Under Plan You Could Be Charged Based On How Much You Throw Away.

Congress approves unemployment extension

July 22, 2010: USAToday.com — A long-debated proposal to extend unemployment benefits through November won approval in the House of Representatives today – setting the stage for what is likely to become a top campaign issue as the November midterm election nears.

White House to Allow Tax Cuts for Wealthy to Expire

July 22, 2010: WSJ — Treasury Secretary Timothy Geithner said the Obama administration will allow tax cuts for the wealthiest Americans to expire on schedule despite calls from a small but increasingly vocal group of Democrats to delay any tax increases.

Teen barters phone for a Porsche convertible

July 22, 2010: (CNN) – Thanks to the age-old art of bartering, a California teenager became the envy of all his friends when he pulled into school in a Porsche convertible.

California city approves marijuana farming

June 22, 2010: (Reuters) – The city of Oakland, California on Tuesday legalized large-scale marijuana cultivation for medical use and will issue up to four permits for “industrial” cultivation starting next year.

Large China oil spill threatens sea life, water

June 22, 2010: AP — China’s largest reported oil spill emptied beaches along the Yellow Sea as its size doubled Wednesday, while cleanup efforts included straw mats and frazzled workers with little more than rubber gloves.

Rust Discovered On Bank Of Russia Issued 999 Gold Coins

June 21, 2010: Here’s a head scratcher: as everyone knows from elementary chemistry courses, gold is the most inert metal in the world – it  does not rust, nor corrode. Yet this is precisely what Russian commercial precious metal trading company, International Reserve Payment System, discovered on thousands of (allegedly) 999 gold coins “St George” (pictured insert) issued by the Central Russian Bank.

Senate expected to vote to restore unemployment benefits

June 21, 2010: USAToday.com — The Senate cleared the way for 2.5 million out-of-work Americans to start receiving unemployment checks again, breaking a Republican roadblock minutes after swearing in a new senator.

Gov’t watchdogs: mortgage program is not working

June 21, 2010: (AP) — Government watchdogs told a Senate panel Wednesday that the Obama administration’s effort to help homeowners avoid foreclosure isn’t working and that the Treasury Department has failed to fix the program.

Total US govt financial system support seen at $3.7 trln

June 21, 2010: (Reuters) – Increased housing commitments swelled U.S. taxpayers’ total support for the financial system by $700 billion in the past year to around $3.7 trillion, a government watchdog said on Wednesday.

Gold Coin Sellers Angered by New Tax Law

June 20, 2010: ABC.com — Those already outraged by the president’s health care legislation now have a new bone of contention — a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny.

U.S. Housing Starts Drop to Lowest Level Since October

July 20, 2010: Bloomberg.com — Housing starts fell in June to the lowest level in eight months after the expiration of a U.S. government tax incentive caused sales to slump.

Economic Meltdown: The Final Phase

July 19, 2010: Infowars — In the financial life of every culture built upon faulty monetary policy, there are points at which the thin thread of economic faith; the thread that ties the entire failing system together, the thread made tangible by the hopes (and sometimes ignorance) of the general populace, finally snaps.

Pay-Per-Cop

July 19, 2010: Revoltofthephlebs.wordpress.com —  Imagine coming home from a hard day’s work, only to find that your front door has been kicked in and your home ransacked.  You dial 9-1-1.  There is a recording at the other end of the line:  “…If you are reporting a crime in progress, press 1.  All other callers press 2.” “If you would like to speak with a dispatcher, a fee of $2.99 per minute will be generated on your telephone service account and will appear on your next statement as “police services.”  If you accept these charges, please press 1, or you can visit our website at:  www.yourlocapolicedepartment.com and file a report online.”

The End Game and The Illusory Gold Bubble

July 19, 2010: 321Gold.com – When the end-game began, gold was $35 per ounce. Today, gold is $1200. When the end-game is over, gold will be far higher. Midway through 2010 we are approaching the end of the end-game, the resolution of the monetary imbalances that began in 1971. For more than 2500 years, gold was money: but, in 1971 that changed. After 1971, money was no longer connected to gold. For the first time in history, money had no intrinsic value.

Competing currency being accepted across Mid-Michigan

July 19, 2010: ConnectMidMichigan.com — New types of money are popping up across Mid-Michigan and supporters say, it’s not counterfeit, but rather a competing currency.  Right now, you can buy a meal or visit a chiropractor without using actual U.S. legal tender.

The Jobless Effect: Is the Real Unemployment Rate 16.5%, 22%, or. . .?

Banks eye higher fees to boost declining revenue

July 17, 2010: USAToday.com — Big banks facing big drops in revenue are looking to Main Street to make up the difference.  Checking accounts, bank statements, even popping into your local bank branch could carry a hefty cost as the nation’s mega-banks scramble to offset expected damage from the sweeping financial overhaul. The uncertain future has overshadowed otherwise strong second-quarter earnings at JPMorgan Chase, Citigroup and Bank of America.

Regulators shut 6 more banks, making 96 failures for the year

July 17, 2010: USAToday.com — Regulators on Friday shut down three banks in Florida, two in South Carolina and one in Michigan, bringing to 96 the number of U.S. banks to succumb this year to the recession and mounting loan defaults.

The IRS’s vast new ObamaCare powers.

July 17, 2010: WSJ — If it seems as if the tax code was conceived by graphic artist M.C. Escher, wait until you meet the new and not improved Internal Revenue Service created by ObamaCare. What, you’re not already on a first-name basis with your local IRS agent?

Help! Teens Are Using Digital Drugs to Get High

July 16, 2010: Gizmondo.com — Kids around the country are getting high on the internet, thanks to MP3s that induce a state of ecstasy. And it could be a gateway drug leading teens to real world narcotics.

Goldman Sachs admits it misled investors, pays $550M fine

June 16, 2010: USAToday.com — Goldman Sachs (GS) ended one of the most painfully embarrassing episodes of its 141-year history on Thursday by striking a deal with the Securities and Exchange Commission to resolve its fraud complaint against the Wall Street power.

Dollar extends losses on US economy concerns

July 16, 2010: Breitbart.com — The dollar fell further on Friday, touching the lowest level so far this year against the yen, as weak US data fuelled concerns about the world’s biggest economy, analysts said.

Congress Passes Bankster Consolidation Bill

June 16, 2010: Infowars — Change has arrived. But it is not the sort of change imagined by the fawning mobs of 2008 at Obama’s campaign rallies. Obama and Congress have pulled a three-card Monte on the American people. It’s called “financial regulatory reform” and it hands unprecedented power over to the Federal Reserve.

Dow Drops Over 200; Apple Climbs

July 16, 2010: CNBC.com — Stocks skidded Friday after a report showed consumer sentiment dropped to its lowest level in nearly a year and as the latest batch of earnings disappointed.

Brief for 9 States backs Arizona Immigration Law

July 15, 2010: (AP) – States have the authority to enforce immigration laws and protect their borders, Michigan Attorney General Mike Cox said Wednesday in a legal brief on behalf of nine states supporting Arizona’s immigration law.

Witness: BP using dispersants so oil hits “beaches for 10 or 15 years” for amortization savings

July 2, 2010: Youtube.com — Watch Video

Flurry of negative economic reports dampen recovery hopes

July 2, 2010: (AP) — Fears that the economic recovery is fizzling grew Thursday after the government and private sector issued weak reports on a number of fronts.

Six Months to Go Until The Largest Tax Hikes in History
July 2, 2010: ATR.org — In just six months, the largest tax hikes in the history of America will take effect.  They will hit families and small businesses in three great waves on January 1, 2011:

Dollar Plunges After UN Call To Ditch Greenback

July 1, 2010: prisonplanet.com — The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund’s special drawing rights (SDRs).

New jobless claims rise in sign of weak job market

July 1, 2010: (AP) — Initial claims for unemployment benefits rose for the second time in three weeks last week. The potential rise in layoffs comes as Congress remains stuck at an impasse over extending federal jobless aid.

Huge tent city takes root

July 1, 2010: StarAdvertiser.com – Homeless camps cover 50 acres, from Waipio Point, around Middle Loch to Pearl City

May pending home sales tumble without tax credits

July 1, 2010: (AP) — The number of buyers who signed contracts to purchase homes tumbled in May, a sign the housing recovery can’t survive without government incentives.

10 Things Retirees Are Doing Without

June 30, 2010: Yahoo — Retirees have watched their nest eggs shrink over the past two years. Cutbacks in spending have been necessary and painful. Some 60 percent of retirees say they have reduced expenses since 2008, according to a recent Harris Interactive survey of 501 retirees underwritten by Principal Financial Group.

Wall Street falls and closes dismal quarter

June 30, 2010: (Reuters) – U.S. stocks staggered to the end of a dismal second quarter on Wednesday in another low volume session as investors found little reason to take on risk in light of conflicting data.

Time runs out for 1.2 million on unemployment

June 30, 2010: (CNN) – With her unemployment benefits coming to a halt, Miriam Cintron is forced to make a difficult choice between health insurance and daily expenses.

Dow Falls 268.22 to Slide Under 10000

June 29, 2010: WSJ.com — The second quarter’s biggest worries took an unwelcome curtain call on Tuesday, hitting global markets.

Citigroup Recoups Loss After Circuit Breaker Ends

June 29, 2010: Bloomberg.com — A 17 percent plunge in Citigroup Inc. today triggered a five-minute trading pause, making the bank the second company halted by the two-week-old circuit- breaker program created to prevent market panics.

Consumer Confidence Drops In June On Jobs Worries

June 29, 2010: AP — mericans, worried about jobs and the sluggish economic recovery, are having a relapse in confidence, causing a widely watched index to tumble in June and raising concerns about consumer spending in the critical months ahead.

Work-at-home job scams thrive on economic trouble

June 29, 2010: USAToday.com — Work-at-home opportunities were supposed to help Chester Mazzoni, Susan Reid and Terry Yeast make ends meet.  The only one who made money was Mazzoni — and that stopped when a court-appointed receiver shut him down. He used a work-at-home medical billing scam, EDI Healthclaims Network, to help fund his other businesses by persuading thousands of people to pay up to $6,000 for training and materials to start allegedly lucrative businesses.

The Third Depression

June 28, 2010: NYTimes.com — Recessions are common; depressions are rare. As far as I can tell, there were only two eras in economic history that were widely described as “depressions” at the time: the years of deflation and instability that followed the Panic of 1873 and the years of mass unemployment that followed the financial crisis of 1929-31.

RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve

June 28, 2010: Telegraph.co.uk — As recovery starts to stall in the US and Europe with echoes of mid-1931, bond experts are once again dusting off a speech by Ben Bernanke given eight years ago as a freshman governor at the Federal Reserve.

Silver Posting Best Streak Since Hunts as Economy no Impediment

June 28, 2010: (Bloomberg) — Silver, the precious metal most used in industry, is attracting investors betting on both faster and slower economic growth as prices extend the longest run of quarterly gains in three decades.

Europe feels the chill of a future built on metal

June 28, 2010: AMH.com.au — The European Commission, worried about supply, has produced a study of the resources it regards as critical.

Unemployment benefits extension nixed for nearly 1 million

June 28, 2010: (CNNMoney.com) — Nearly a million people have lost their unemployment benefits because the Senate failed for the third time Thursday to extend the deadline to file for this safety net.

Will the US Devalue the Dollar?

June 27, 2010: Beforeitsnews.com — The ability to wage war on credit gave the West an insurmountable advantage over the East. The West’s credit, however, has now turned to debt and the West has lost its advantage. But the return to parity will not be easy.

Oil washes onto Mississippi coast for first time

June 27, 2010: (Reuters) – Large patches of thick oil washed ashore in Mississippi on Sunday, the first time crude from the BP Plc <BP.L><BP.N> spill in the Gulf of Mexico has hit the state’s coast.

Destined to Fail – Magical Thinking at the G20

June 27, 2010: ZeroHedge.com — The G20 meeting has revealed two important things that tell us something about our combined economic future. First we learned that the US lost the battle to try to get everyone back on the Keynesian print-a-thon bandwagon. This tells us something about US leadership in these troubled times. Once-upon-a-time, the US could dictate such things, and those days are apparently over which deserves to be noted.

Panera to open more pay-what-you-wish restaurants

June 27, 2010: USAToday.com — As the first crowd of customers filed into Panera’s nonprofit restaurant here, only the honor system kept them from taking all the food they wanted for free.

Obama Internet kill switch plan approved by US Senate

June 26, 2010: News.Techworld.com — A US Senate committee has approved a wide-ranging cybersecurity bill that some critics have suggested would give the US president the authority to shut down parts of the Internet during a cyberattack.

They Keep Stealing – Why Keep Paying?

June 26, 2010: ZeroHedge.com — The dire straits of the middle class of America has made it near impossible for our politicians to keep up the pretense that our current government truly works for the “people.” Between the multiple overt and secretive bailouts, the massive bonuses and the circular use of our tax money to lobby for these continued handouts, you can no longer hide from the evidence.

States of Crisis for 46 Governments Facing Greek-Style Deficits

June 26, 2010: Bloomberg.com — Even as the U.S. appears to be on the mend — gross domestic product has climbed three straight quarters — finances in Arizona, Illinois, New Jersey, New York and other states show few signs of improvement. Forty-six states face budget shortfalls that add up to $112 billion for the fiscal year ending next June, according to the Center on Budget and Policy Priorities, a Washington research institution. State spending is 12 percent of U.S. GDP.

Regulators close banks in Fla., Ga., N.M.

June 26, 2010: AP) — Regulators on Friday shut down banks in Florida, Georgia and New Mexico, lifting to 86 the number of U.S. bank failures this year.

Mortgages, debit cards, more: You and the financial overhaul

June 25, 2010: USAToday.com — You’re not a bank president and you wouldn’t know a derivative if someone served you one for dinner. No matter. There are several provisions in the financial overhaul bill that could affect you, especially if you plan to buy a home.

Obama Can Shut Down Internet For 4 Months Under New Emergency Powers

June 25, 2010: Infowars.com — President Obama will be handed the power to shut down the Internet for at least four months without Congressional oversight if the Senate votes for the infamous Internet ‘kill switch’ bill, which was approved by a key Senate committee yesterday and now moves to the floor.

The Coming U.S. Real Estate Crash

June 25, 2010: TheEconomicCollapseblog.com — Right now the United States is heading for another real estate crash. The only thing that has been holding it back was the huge bribe (called a tax credit) that the U.S. government was giving people to buy houses. Now that the tax credit has expired, there is no artificial incentive to buy homes and the real estate market has fallen through the floor.

Iran on war alert over “US and Israeli concentrations” in Azerbaijan

June 24, 2010: DebkaFile.com — In a rare move, Iran has declared a state of war on its northwestern border, debkafile’s military and Iranian sources report. Iranian Revolutionary Guards Corps men and equipment units are being massed in the Caspian Sea region against what Tehran claims are US and Israeli forces concentrated on army and air bases in Azerbaijan ready to strike Iran’s nuclear facilities.

California welfare cards can be used in many casino ATMs

June 24, 2010: LATimes.com — Times review finds that in more than half of the state’s casinos and gaming rooms, welfare recipients can get cash from state-issued EBT cards. Officials say they’re moving to block such transactions.

Deutsche Bank: U.S. Financial Conditions Just Collapsed Back To Crisis Levels

Mortgage rates sink to record low, says Freddie Mac

June 24, 2010: USAToday.com — Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments on home purchases and refinancings.

State Budgets: Serious, Ridiculous, Ugly

June 24, 2010: Beforeitsnews.com — This week the focus shifted from Europe, where (apart from the French World Cup team) things are quiet, to the US, where state budget deadlines are forcing some tough, and occasionally bizarre, choices.

Government Insiders: Get Ready for the Gulf “Dead Zone”

June 24, 2010: Oilprice.com — Bad news concerning the Gulf oil disaster continues to come from WMR’s federal government sources in the Federal Emergency Management Agency (FEMA) and the US Army Corps of Engineers. Emergency planners are dealing with a prospective “dead zone” within a 200 mile radius from the Deepwater Horizon disaster datum in the Gulf.

Toxic Rain Falls in Louisiana

June 23, 2010: Infowars.com — It is now raining oil — and we can assume the highly toxic dispersant Corexit 9500 — in River Ridge, Louisiana.

New home sales at record low as tax credit expires

June 23, 2010: (Reuters) – Sales of new homes dropped a record 32.7 percent in May to the lowest level in at least four decades as the boost from a popular tax credit faded, adding to worries of a slowing economic recovery.

America’s New Budgetless Reality Is “Betrayal Of American Taxpayers”

June 23, 2010: ZeroHedge.com — Since the implementation of the 1974 Budget Act, the House has never failed to pass a budget resolution – until now. House Democratic leaders announced this morning that they will make no attempt to even propose a budget.

White House Budget Direction Orszag says he’s leaving as budget head in July

June 23, 2010: (AP) — White House Budget Director Peter Orszag says he’s stepping down next month, positioning him to be the first high-profile member of President Barack Obama’s team to depart the administration.

Judge overrules Obama’s ban on deep-water oil drilling

June 22, 2010: USAToday.com — A federal judge in New Orleans on Tuesday blocked President Obama’s six-month ban on new offshore oil drilling in deep water, calling the moratorium “blanket, generic, indeed punitive.”

Existing Home Sales Tumble Unexpectedly in May

June 22, 2010: CNBC.com — Sales of previously owned homes fell unexpectedly in May as delays in processing mortgage applications hampered the closing of contracts benefiting from a popular homebuyer tax credit, an industry group said on Tuesday.

Survey: Individual Health Insurance Premiums Jump

June 21, 2010: ABCNews.com — People who buy their own health insurance have been hit lately with premium hikes that far exceed increases in premiums for employer-sponsored coverage, according to a new survey from the Kaiser Family Foundation.

Borrowers exit troubled Obama mortgage program

June 21, 2010: (AP) — The Obama administration’s flagship effort to help people in danger of losing their homes is falling flat.

Meredith Whitney: “No Doubt We Have Entered A Double-Dip For Housing”

June 21, 2010: ZeroHedge.com — Highlights from an interview by Meredith Whitney currently on CNBC (full interview to be posted later): A double dip in housing is a certainty, State economies are plunging, and are $200 billion underwater, will lead to 2 million in state-level layoffs leading to a low-end impact; raising taxes at state level will impact the top-end, Retail sales… Read On.

China lets yuan float, warns move won’t fix global economy

June 21, 2010: USAToday.com — China followed through Monday on Saturday’s pledge to allow greater flexibility in exchange rates, but said an appreciation in its currency alone could not rebalance world growth as it urged world leaders to carry out more fundamental reforms.

Canada’s economy is suddenly the envy of the world

June 21, 2010: AP — The 20 world leaders at an economic summit in Toronto next weekend will find themselves in a country that has avoided a banking crisis where others have floundered, and whose economy grew at a 6.1 percent annual rate in the first three months of this year. The housing market is hot and three-quarters of the 400,000 jobs lost during the recession have been recovered.

US, Israel Warships in Suez May Be Prelude to Faceoff with Iran

June 20, 2010: IsraelNationalNews.com — Egypt allowed at least one Israeli and 11 American warships to pass through the Suez Canal as an Iranian flotilla approaches Gaza. Egypt closed the canal to protect the ships with thousands of soldiers, according to the British-based Arabic language newspaper Al Quds al-Arabi.

China Officially Disses the Dollar (and Treasury Debt)

June 20, 2010: EconomicPolicyJournal.com — The Peoples Bank of China has announced that it will no longer fix its currency in terms of the dollar. Instead it will manage the yuan against a basket of currencies.

Gulf Oil Disaster: Cause For Mass Evacuation?

June 20, 2010: Youtube.com — Watch Video

Bank failure is 83rd in ’10; pace more than double last year’s

June 19, 2010: USAToday.com — The 83 closures so far this year is more than double the pace set in all of 2009, which was itself a brisk year for shutdowns. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks’ losses mount on loans made for commercial property and development.

Extreme Personal Finance: Eating Well on One Dollar a Day

June 19, 2010: GetRichSlowly.org — Because I love stories of extreme personal finance, and because I haven’t highlighted one in a long time, I decided to take a closer look; I spent an hour reading about his project. Holy cats! This fellow’s shopping abilities are insane.

Russia Will Lead Effort to Found `New World Economic Order,’ Medvedev Says

June 19, 2010: Bloomberg — Russia will help lead efforts to recast the global economic hierarchy as the world emerges from the financial crisis, President Dmitry Medvedev said.

Gulf oil full of methane, adding new concerns

June 18, 2010: AP — It is an overlooked danger in the oil spill crisis: The crude gushing from the well contains vast amounts of natural gas that could pose a serious threat to the Gulf of Mexico’s fragile ecosystem.

Fifty Years of Suppressing Silver

June 18, 2010: BullionBullsCanada.com — Sophisticated precious metals investors are well-aware of the rampant manipulation of the gold and silver markets. They are also generally aware of the reason for such manipulation. A rapid rise in the price of gold and silver is like an economic “warning siren” – alerting savers that their wealth (i.e. the purchasing power of their currency) is being rapidly eroded by the monetary depravity of bankers.

Greenspan Says U.S. May Soon Reach Borrowing Limit

June 18, 2010: Bloomberg- Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a “tectonic shift” in fiscal policy to contain borrowing.

Gold Surges on Haven Demand Amid U.S., Europe Concerns

June 18, 2010: Businessweek.com — (Bloomberg) — Gold futures rose to a record $1,260.90 an ounce on demand for a haven amid Europe’s fiscal woes and dimming prospects for the U.S. economy.

$7-a-gallon gas?

June 18, 2010: NYPost.com — President Obama has a solution to the Gulf oil spill: $7-a-gallon gas. That’s a Harvard University study’s estimate of the per-gallon price of the president’s global-warming agenda. And Obama made clear this week that this agenda is a part of his plan for addressing the Gulf mess.

Fresh economic worries trigger rush into gold

June 17, 2010: (Reuters) – Gold was set for its largest daily rise in a week on Thursday, as a combination of concern over the impact of the euro zone debt crisis and downbeat U.S. data encouraged a fresh sweep into safe-haven assets.

New claims for jobless benefits rise sharply

June 17, 2010: (AP) — The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.

Oil spill victims get a break on mortgage payments

June 17, 2010: (CNNMoney.com) — Mortgage borrowers hurt by the Gulf oil spill may qualify for temporary relief from paying their mortgages, without fear of losing their homes.

The 2010 Silver Buying Guide

June 17, 2010: ZeroHedge.com — Silver has been sizzling and causing lots of buzz in the industry. Investors are excited. Part of the hubbub is due to its current run. Since its February 8 low, silver has roared ahead 22.4% (through June 21) and has doubled from its November 2008 low.

More Than 90 Banks Miss TARP Payments

June 17, 2010: CNBC.com — More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.

Toxic Oil Spill Rains Warned Could Destroy North America

June 17, 2010: EUTimes.net — A dire report prepared for President Medvedev by Russia’s Ministry of Natural Resources is warning today that the British Petroleum (BP) oil and gas leak in the Gulf of Mexico is about to become the worst environmental catastrophe in all of human history threatening the entire eastern half of the North American continent with “total destruction”.

Mystery Crop Damage Threatens Hundreds Of Acres and ORGANIC FARMERS

June 16, 2010: Youtube.com – Watch Video

Silver could hit $21/oz on industrial recovery

June 16, 2010: (Reuters) – Silver prices could rise to $21 an ounce by the end of the year on the back of gold’s coattails and an industrial demand recovery, said Philip Newman, research director of respected precious metals consulting firm GFMS Ltd on Sunday.

Home construction sinks; wholesale price index drops

June 16, 2010: USAToday.com — Home construction plunged last month to the lowest level since December, and building permits fell as builders scaled back construction plans.

Families in homeless shelters increased 7% in ’09

June 16, 2010: USAToday.com — The recession continued to take its toll as more families with children became homeless for the second straight year, a U.S. government report shows.

Oil estimate raised to 35,000-60,000 barrels a day

June 15, 2010: (CNN) — Government officials Tuesday increased the estimate of oil flowing into the Gulf to between 35,000 and 60,000 barrels (1.5 million to 2.5 million gallons) per day, up to 50 percent more than previously estimated.

What if there’s no fix for high unemployment?

June 15, 2010: FORTUNE — There seems to be little doubt that unemployment is going to remain stubbornly high — quite possibly for years to come. There’s also mounting evidence that a good part of that unemployment is really structural in nature: The skills and capabilities of many experienced workers are simply no longer demanded by the market.

Moody’s Cuts Greece Government Ratings to Junk

June 15, 2010: Reuters — Moody’s on Monday downgraded Greece government bond ratings into junk territory, citing the risks in the euro zone/IMF rescue package for the debt-laden country.

Take Some Profits, Before the Tax Man Takes ‘Em

June 15, 2010: CNBC.com — As my old friend Art Laffer continually reminds us, the Tax Man is coming to town on January 1, 2011. Taxes are going up across-the-board. So investors should seriously consider selling into any stock market strength ahead of the tax deadline. Doing this will enable investors to lock in a lower capital-gains tax this year and beat next year’s higher rates.

Nasa warns solar flares from ‘huge space storm’ will cause devastation

June 15, 2010: Telegraph.co.uk — National power grids could overheat and air travel severely disrupted while electronic items, navigation devices and major satellites could stop working after the Sun reaches its maximum power in a few years.

MARTIAL LAW ALERT: Gulf Coast Evacuation Scenario Summer/Fall 2010

June 14, 2010: Meetup.com — We have withheld putting out information on the Gulf oil spill for a variety of reasons, but there is now enough evidence for us to put together a fairly clear picture of what really happened, what may result and to warn people who live in the area.

Obama pleads for $50 billion in state, local aid

June 14, 2010: WashingtonPost.com — President Obama urged reluctant lawmakers Saturday to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid “massive layoffs of teachers, police and firefighters” and to support the still-fragile economic recovery.

Employers to see 9% jump in 2011 medical costs

June 14, 2010: USAToday.com — Companies that offer employee health insurance expect another steep jump in medical costs next year, and more will ask workers to share a bigger chunk of the expense, according to a new PricewaterhouseCoopers report.

SPECIAL: Photo gallery of Ripple effects of the BP oil spill

June 13, 2010: Katu.com – (Click on date to view).

Silver to get more bullish than gold

June 12, 2010: GulfNews.com — As yellow metal gets expensive, investors will turn to alternative metals, expert says

$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies

June 12, 2010: ZeroHedge.com — 1) The intent of the Securities Exchange Act of 1934 as provided for in its preamble is being twisted and abused for the benefit of gamblers and to the detriment of investors. 2) The markets are not “fair and honest”…

Bank Failure #82: Washington First International Bank, Seattle, WA

June 12, 2010: CalculatedRiskBlog.com — As of March 31, 2010, Washington First International Bank had approximately $520.9 million in total assets and $441.4 million in total deposits. …

PR Push Against Strategic Defaulters Underway (Is There a Debtors’ Prison in Your Future?)

June 12, 2010: NakedCapitalism.com — A good Washington DC contacts told me that a public relations/media push to demonize those who decide to walk away from mortgages they can still afford to pay (aka “strategic defaulters”) is underway. Expect to see a good bit of moral fervor as those who choose to cut their losses are attacked as immoral, irresponsible, and abusive.

U.S. asset managers worried Obama could confiscate gold

June 11, 2010: MineWeb.com — Anecdotal evidence suggests some major U.S. asset managers prefer to hold gold outside the U.S. for fear of confiscation in an echo of Roosevelt’s 1933 decree.

Markets About to Turn Nasty, Buy Barbed Wire: Advisor

June 11, 2010: CNBC.com — Bond markets could get very nasty over the coming months, while stock investors could take a few months off and stop attempting to trade volatile swings in the markets, Anthony Fry, senior managing director at Evercore Partners, told CNBC Monday.

Bernanke: ‘Things Will Come Apart’ If Entitlements Are Not Reformed…

June 11, 2010: CNSNews.com — (CNSNews.com) – Federal Reserve Chairman Ben Bernanke delivered a frank assessment to Congress on the fate of the economy if entitlement programs are not restructured.

New Jersey Towns Raise Local Property Taxes Above Christie’s Proposed Cap

June 11, 2010: Bloomberg.com — Robbinsville, the central New Jersey town where Governor Chris Christie appeared last week to promote his plan to cap annual property-tax increases at 2.5 percent, won approval yesterday to raise its tax bills by 29 percent.

Chaos, Anarchy To Reign If Paterson Shuts Down NY

June 11, 2010: WCBSTV.com — Monday Could Be Doomsday If Budget Deal Can’t Be Reached. Shutdown Would Mean Closing Of State Parks, DMV, Courts, N.Y. Lottery

Oil Flow Estimates Are Significantly Boosted

June 11, 2010: WSJ.com — As many as 50,000 barrels of oil per day may have flowed into the Gulf before it was partly contained on June 3, the U.S. Geological Survey says.

BP shares plunge as estimate of leaking oil grows

June 10, 2010: AP — Investors dumped shares of BP Wednesday, as estimates of the amount of oil flowing from its blown-out well grew, along with concerns about its ability to pay for the spill in the Gulf.

Risks to global economy have ‘risen significantly’, top IMF official warns

June 10, 2010: Telegraph.co.uk — The risks to a robust global recovery have ‘risen significantly’ as many governments struggle with debt, a leading official from the International Monetary Fund has warned.

Bankruptcy filings are nearing the record 2 million of 2005

June 10, 2010: USAToday.com — Bankruptcy filings are nearing the record 2 million of 2005, when a new law took effect that was aimed at curbing abuse of the system. Filings could reach 1.7 million this year, says law professor Robert Lawless, but few experts believe that debtors are now gaming the system.

Wanted: 400,000 truck drivers

June 09, 2010: (CNNMoney.com) — Can’t find a job? Maybe it’s time to take your search on the road. The U.S. trucking industry will need to hire about 200,000 drivers by the end of this year, and will need to add another 200,000 by the end of 2011, according to the state of logistics report from the Council of Supply Chain Management Professionals.

If You Own A Home You May Lose It

June 09, 2010: Youtube.com — WATCH VIDEO (Purchase applications are now almost 40 percent below their level four weeks ago, while the refinance share, at 74 percent, is at its highest level since December,”)

Senator Nelson: The BP Well May Have Lost Structural Integrity Beneath the Sea Floor

June 09, 2010: WashingtonsBlog.com — Plugging the well is another challenge even after BP successfully intersects it, Robert Bea, a University of California Berkeley engineering professor, said. BP has said it believes the well bore to be damaged, which could hamper efforts to fill it with mud and set a concrete plug, Bea said.

U.S debt to rise to $19.6 trillion by 2015

June 09, 2010: (Reuters) – The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.

Teens Face Worst Summer Job Market in 41 Years

June 09, 2010: CNBC.com — Employment among 16-to 19-year olds in May grew by just 6,000, the smallest increase since 1969, when teen jobs fell by 14,000, according to government data analyzed by employment firm Challenger, Gray & Christmas.

Disturbing Job Ads: ‘The Unemployed will not be considered’

June 08, 2010: HuffingtonPost.com — Still waiting for a response to the 300 resumés you sent out last month? Bad news: Some companies are ignoring all unemployed applicants.

Debt-settlement companies draw increasing criticism

June 08, 2010: USAToday.com — The ads are ubiquitous, and for consumers awash in debt, nearly impossible to ignore: Reduce your credit card bills 50%! Avoid bankruptcy! The relief is real!…a growing group of lawmakers, regulators and consumer advocates say these companies exploit desperate borrowers, often leaving them deeper in debt.

Gold price hits new record as it breaks through $1,250

June 08, 2010: Telegrah.co.uk — The price of gold rose to an all-time high point above $1,250 an ounce on Tuesday, as investors nervous about the weak state of the global economy sought safety in the precious metal.

Marc Faber’s Must Watch 2010 Presentation

June 08, 2010: ZeroHedge.com — As someone once said, the only man who can tell a room full of people they are doomed and get a standing ovation, Marc Faber, gives a terrific hour long presentation to the Mises Circle in Manhattan on May 22, discussing the economy, interest rates, markets, etc…

Tax Hikes and the 2011 Economic Collapse

June 08, 2010: WSJ.com — It shouldn’t surprise anyone that the nine states without an income tax are growing far faster and attracting more people than are the nine states with the highest income tax rates. People and businesses change the location of income based on incentives.

Counting on Medicaid, States Face Shortfalls

June 08, 2010: NYTimes.com — Governors and state lawmakers, already facing some of the toughest budgets since the Great Depression, said the repercussions would extend far beyond health care, forcing them to make deep cuts to education, social services and public safety.

NASA Warns of Sun’s “Awakening”; Can cause damage to power grids, satellites, gps, communication

June 07, 2010: NASA — Earth and space are about to come into contact in a way that’s new to human history. To make preparations, authorities in Washington DC are holding a meeting: The Space Weather Enterprise Forum at the National Press Club on June 8th.

How financial overhaul stands to affect consumers

June 07, 2010: (AP) — If some lawmakers have their way, brokers will have to show they’re serving their customers’ financial interests. Debit cards could be cheaper to use. And homeowners would be less vulnerable to high-cost mortgages.

On The Imminent US Debt To GDP Parity

June 07, 2010: ZeroHedge.com — Total US debt is currently just under $13.1 trillion, and is rising at a rate of about $150-200 billion per month, meaning that US GDP of about $14.4 trillion will soon hit parity with the Federal debt, likely in under one year.

Consumer issues still in play in financial overhaul talks

June 07, 2010: USAToday.com — House and Senate negotiators start crafting a final financial overhaul bill this week, and if some lawmakers have their way, brokers will have to show they’re serving their customers’ financial interests; debit cards could be cheaper to use; and homeowners would be less vulnerable to high-cost mortgages.

Emerging Jobs in Social Media

June 06, 2010: Yahoo.com — The world of marketing has changed with the rise of social media sites such as LinkedIn, Twitter, and Facebook. Now companies are seeking their customers’ attention with tweets, videos, blog posts, pictures–online content designed to create buzz and attract a following.

Growing ranks of long-term jobless face tough odds

June 06, 2010: (AP) — If you lose your job these days, it’s worth scrambling to find a new one — fast. After six months of unemployment, your chances of landing work dwindle.

Regulators shut banks in Neb., Miss., Ill.

June 06, 2010: (AP) — Regulators shut banks in Nebraska, Mississippi and Illinois; 81 bank failures so far in 2010

Census Worker Claims Job Numbers Being Inflated

June 06, 2010: Realclearpolitics.com — “What they do is hire you, they train you like a few weeks — 35, 40 hours of training and give you six hours of productive work and lay you off.”

BP chief Tony Hayward sold shares weeks before oil spill

June 06, 2010: Telegraph.co.uk — The chief executive of BP sold £1.4 million of his shares in the fuel giant weeks before the Gulf of Mexico oil spill caused its value to collapse.

Gold Holdings In GLD Surge To All Time Record

June 04, 2010: ZeroHedge.com — The total gold tonnage making up the GLD NAV has just hit an all time high, at 1,289.8 tonnes, even as the actual fixing price of both gold and of the the GLD ETF have been relatively flat after hitting an all time high on May 12, incidentally a day when GLD had 80 less tonnes in holdings than it does today.

5 Ways to Curb Bank Overdraft Fees

June 04, 2010: Yahoo.com — On July 1, new federal rules will require banks to ask customers to opt in for overdraft coverage — a line of credit that kicks in when account holders make purchases that exceed their available checking and debit account balances.

Laid-off workers retrain but end up in same spot: Jobless

June 04, 2010: USAToday.com — When Todd Wyman lost his job making parts for trucks and SUVs in June 2008, he started on a path trod by millions of unemployed workers in this recession: He retrained to do something else.

Secretive Bilderberg Club ready for protests

June 04, 2010: Timesonline.co.uk — Across the world, secretaries to the rich and the powerful have blocked out the next three days in their bosses’ calendars for their annual gathering, this time at the Dolce in Sitges, one of Spain’s most exclusive resorts.

US Mint Runs Out of Silver

June 03, 2010: GreenFaucet.com — And so the US joins the distinguished list of pretty much everyone else in the world in running out of silver and soon, gold. The US Mint has just announced it has run out of silver bullion blanks, and is suspending American Eagle Silver Proof coins, until further notice.

World currency unit intended to rival U.S. dollar for supremacy

June 03, 2010: FinancialPost.com — A new currency is intended to challenge the U.S. dollar as the world’s foremost reserve currency. The WOCU, short for world currency unit, was actually launched by London-based WDX Organization in September 2009, but only seems to be gaining recognition now.

Into the Abyss: The Cycle of Debt Deflation

June 03, 2010: Beforeitsnews.com — One of the most famous quotations of Austrian economist Ludwig von Mises is that “There is no means of avoiding the final collapse of a boom brought about by credit expansion.

BP Oil Leak May Last Until Christmas in Worst Case Scenario

June 03, 2010: (Bloomberg) — BP Plc’s failure since April to plug a Gulf of Mexico oil leak has prompted forecasts the crude may continue gushing into December in what President Barack Obama has called the greatest environmental disaster in U.S. history.

BP Oil Leak May Last Until Christmas in Worst Case Scenario

June 02, 2010: (Bloomberg) — BP Plc’s failure since April to plug a Gulf of Mexico oil leak has prompted forecasts the crude may continue gushing into December in what President Barack Obama has called the greatest environmental disaster in U.S. history.

Citigroup to close 330 branches in consumer finance reorganization

June 02, 2010: (AP) — Citigroup (C) is closing 330 branches of its U.S. consumer finance business as part of a restructuring aimed at finding a buyer for the unit, the bank said Tuesday.

Owners Stop Paying Mortgage … And Stop Fretting About It

June 02, 2010: NYTimes.com — For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but are in no hurry to get out of. Foreclosure has allowed them to stabilize the family business. Go to Outback occasionally for a steak. Take their gas-guzzling airboat out for the weekend. Visit the Hard Rock Casino.

BP stock tumbles as feds announce Criminal & Civil oil-spill probes

June 02, 2010: (AP) — BP’s stock plummeted and took much of the market down with it Tuesday as the federal government announced criminal and civil investigations into the Gulf of Mexico oil spill.

Euro hits new 4-year low against dollar

June 02, 2010: (AP) – The euro hit another four-year low against the dollar on Tuesday as worries that European banks could still face large loan losses next year added to concerns about the continent’s economic outlook.

Pay Your Card But Default on Your Mortgage?

June 01, 2010: wallstreetoasis.com — In a new report bound to disturb those hoping for a comeback in the real estate market this year, TransUnion reveals that Americans across the board are opting to keep their credit card payments up to date while allowing their mortgages to go into foreclosure. I can’t for the life of me understand the thinking behind this strategy,

Owners Stop Paying Mortgage … And Stop Fretting About It

June 01, 2010: NYTimes.com — For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but are in no hurry to get out of.

Americans abroad run into trouble using credit cards

June 01, 2010: USAToday.com — Americans are increasingly facing difficulty using their credit cards abroad. Chief culprit? Different technology standards.

Greece urged to give up euro

June 01, 2010: Timesonline.co.uk — THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy.

Gulf oil spill threat widens

June 01, 2010: (Reuters) – Oil from BP’s out-of-control Gulf of Mexico oil spill could threaten the Mississippi and Alabama coasts this week, U.S. forecasters said on Monday, as public anger surged over the country’s worst environmental disaster.

Summer of Full Flights and High Fares

June 01, 2010: NYTimes.com — This is not going to be a good summer for air travelers. They face a potential combination of crowded flights, high fares and labor disruptions. And that does not even consider the possibility of more canceled flights because of new penalties for airlines that encounter long tarmac delays or the potential of continued disruption in Europe from the volcano ash drifting from Iceland.

Poll finds debt-dogged Americans stressed out

May 31, 2010:(AP) – The economy trudges ahead yet debt dogs many Americans, stressing them out even as they firm up their own financial foundations.

BP, Obama face clamor to halt oil spill ‘crime’

May 31, 2010: (Reuters) – U.S. lawmakers and local residents clamored on Sunday for BP and the Obama administration to do more to save the Gulf Coast from an out-of-control oil spill that has become the biggest environmental catastrophe in the country’s history.

Camel maker Reynolds American to close 2 cigarette plants, expand smokeless ops

May 31, 2010: (AP) — Tobacco company Reynolds American Inc. said Friday it will close two cigarette plants — one in its headquarters city in Winston-Salem, N.C., and another in Puerto Rico — as it adjusts to declining demand for cigarettes.

New Home Sales Set to Plunge in Former Bubble Markets (Update1)

May 30, 2010: (Bloomberg) — New home sales in Phoenix and Las Vegas, two U.S. markets hardest hit by foreclosures, are set to plunge as a federal tax credit for homebuying expires, according to data from real estate researcher Metrostudy.

U.S. Stocks, Oil, Euro Tumble; Dow Ends Worst May Since 1940

May 30, 2010: (Bloomberg) — U.S. stocks slid, capping the worst May for the Dow Jones Industrial Average since 1940, while the euro slumped and Treasuries rose as a downgrade of Spain’s debt rating and escalating tensions on the Korean peninsula triggered a flight from riskier assets.

3 Fla. banks, 1 each in Nev., Calif. shut down

May 30, 2010: (AP) — Regulators on Friday shut down three banks in Florida and one each in Nevada and California, bringing the number of U.S. bank failures this year to 78.

BP Prepares to Take New Tack on Leak After ‘Top Kill’ Fails

May 30, 2010: NYTimes.com — In another serious setback in the effort to stem the flow of oil gushing from a well a mile beneath the Gulf of Mexico, BP engineers said Saturday that the “top kill” technique had failed and, after consultation with government officials, they had decided to move on to another strategy.

BP Oil Leak: Much Bigger Leak 5 to 6 Miles away.

May 28, 2010: YouTube.com Watch Video

Silver tipped to rise as industrial demand rises

May 28, 2010: Money.ninemsn.com — Silver prices are likely to hit $20 a troy ounce this year supported by “double-digit” growth in industrial consumption and strong investment demand, according to GFMS, the London-based metals consultancy.

Zero energy homes catch on in USA

May 28, 2010: USAToday.com — Homes are increasingly being built in the United States to use little or no energy, a trend that could help reduce U.S. dependence on oil and gas, according to a new book.

N.Y. Assembly Looks at Millionaire’s Tax

May 28, 2010: MYFOXNY.COM – New York Assembly Speaker Sheldon Silver is reportedly pitching a plan for an increased “millionaire’s tax” aimed at 75-85 thousand New Yorkers making $1 million or more a year.

Census workers can enter your apartment in your absence

May 27, 2010: blogs.ajc.com — What many Americans don’t realize, is that census workers — from the head of the Bureau and the Secretary of Commerce (its parent agency) down to the lowliest and newest Census employee — are empowered under federal law to actually demand access to any apartment or any other type of home or room that is rented out, in order to count persons in the abode and for “the collection of statistics.”

Setback Delays ‘Top Kill’ Effort to Seal Leaking Oil Well in Gulf (Live Video of Oil Spewing)

May 27, 2010: NYTimes.com — BP had to halt its ambitious effort to plug its stricken oil well in the Gulf of Mexico on Thursday afternoon when engineers saw that too much of the drilling fluid they were injecting into the well was escaping along with the leaking crude oil.

Greek Scramble For Physical Brings Gold Price To $1,700 Per Ounce

May 27, 2010: ZeroHedge.com — And there are those who wonder how Sprott’s PHYS could have traded at “ludicrous” NAV premium of over 20%. Coinupdate.com reports that prices at which the Greek Central Bank is selling one ounce gold equivalents are as high as $1,700 (40% over spot), and prices on the black markets are even higher.

Euro approaches 4-year low vs dollar

May 27, 2010: (Reuters) – U.S. Treasury Secretary Timothy Geithner and Italian Prime Minister Silvio Berlusconi sought to support the battered euro on Wednesday, but the currency extended its decline on a report that China was reviewing its euro holdings.

Two more Census workers blow the whistle

May 27, 2010: NYPost.com — The worker, Naomi Cohn, told The Post that she was hired and fired a number of times by Census. Each time she was hired back, it seems, Census was able to report the creation of a new job to the Labor Department.

US money supply plunges at 1930s pace as Obama eyes fresh stimulus

May 27, 2010: Telegraph.co.uk — The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.

Why silver could soon take off

May 26, 2010: Moneyweek.com — Silver remains the preserve of relatively few contrarian investors. The media and financial press rarely covers it, and yet it is in the intermediate stage of a bull market that may rival that of the 1970s.

Moody’s Reiterates U.S. Spending Risks Credit Rating

May 26, 2010: (Bloomberg) — The U.S. government’s Aaa bond rating will come under pressure in the future unless additional measures are taken to reduce projected record budget deficits, according to Moody’s Investors Service Inc.

Rattled world markets reflect global stressors

May 26, 2010: USAToday.com — Troubled Spanish banks and North Korean saber-rattling gave investors an unwelcome jolt Tuesday, leading to sharp losses in Asia and Europe and a roller-coaster day on Wall Street.

Dow dips below 10,000, then bounces back

May 25, 2010: (AP) — The Dow Jones industrials plunged below 10,000 to their lowest level of the year Tuesday before a late-day rebound that erased most of the losses if not lingering worries about Europe’s debt crisis.

Private pay shrinks to historic lows as gov’t payouts rise

May 25, 2010: USAToday.com — Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.

Dow falls below 10K

May 25, 2010: (AP) — The Dow Jones industrials plunged below 10,000 Tuesday after traders dumped stocks on expectations that the world economy will weaken in the coming months.

US state pensions becoming federal issue

May 25, 2010: FT.com — Estimates put the unfunded liabilities at between $1,000bn and $3,000bn after years of states promising benefits but not contributing enough in both good times and bad to cover them.

25 Questions To Ask Anyone Who Is Delusional Enough To Believe That This Economic Recovery Is Real

May 25, 2010: Blacklistednews.com — If you listen to the mainstream media long enough, you just might be tempted to believe that the United States has emerged from the recession and is now in the middle of a full-fledged economic recovery.

Oil tax increase would help pay to clean up spills

May 24, 2010: (AP) – Responding to the massive BP oil spill, Congress is getting ready to quadruple—to 32 cents a barrel—a tax on oil used to help finance cleanups. The increase would raise nearly $11 billion over the next decade.

Gold Rising as Euro Weakens Spurs More Speculation

May 24, 2010: (Bloomberg) — Speculators are buying gold faster than the world’s biggest producers can mine it as analysts forecast a 27 percent rally that may extend the longest run of annual gains since at least 1920.

BREAKING: U.S. military told to get ready in Korea standoff

May 24, 2010: MSNBC.com — The White House said Monday that President Barack Obama “fully supports” the South Korean president and his response to the torpedo attack by North Korea that sank a South Korean naval ship.

One false move in Europe could set off global chain reaction

May 24, 2010: Washingtonpost.com — If the trouble starts — and it remains an “if” — the trigger may well be obscure to the concerns of most Americans: a missed budget projection by the Spanish government, the failure of Greece to hit a deficit-reduction target, a drop in Ireland’s economic output.

Euro down sharply as banking concerns resurface

May 24, 2010: (AP) — The euro dropped sharply Monday after the weekend’s de facto nationalization of a regional bank in Spain reignited fears about the continent’s debt crisis and its impact on the banking system.

17 States Now Filing Versions of Arizona’s Immigration Bill SB 1070

May 23, 2010:(MMD Newswire) — One of America’s national organizations fighting against illegal immigration is announcing that 17 states are now filing versions of Arizona’s SB 1070 law which is designed to help local police enforce America’s existing immigration laws.

Manipulation of Precious-metals Market Under Fire

May 23, 2010: TheNewAmerican.com — The banking cartel’s manipulation of supposedly “free” markets is coming under increasing fire as a broad coalition of activists, legislators, and non-profit groups target the Federal Reserve System with lawsuits, investigations, criminal complaints, and federal transparency legislation.

How the Finance Bill Affects Consumers

May 23, 2010: Yahoo.com — For consumers trying to figure out what the financial overhaul bill means for them, the legislation the Senate passed Thursday offers some tantalizing possibilities.

The Giant Banks, Federal Reserve and Treasury Have All Blackmailed America

May 23, 2010: WashingtonsBlog.com — Congressmen Brad Sherman and Paul Kanjorski and Senator James Inhofe all say that the government warned of martial law if Tarp wasn’t passed. And Rahm Emanuel famously said…

Regulators shut small Minnesota bank

May 23, 2010: (AP) — Regulators on Friday shut down a small bank in Minnesota, bringing the number of U.S. bank failures this year to 73.

FDIC Insurance Fund Still $20 Billion in the Hole

May 22, 2010: USAWatchdog.com — While the stock market was beginning its 376 point plunge yesterday, the Federal Deposit Insurance Corporation was quietly putting the best face it could on a banking system in serious trouble.

April mass layoffs rise led by manufacturing

May 22, 2010: (Reuters) – The number of mass layoffs by U.S. employers rose in April led by manufacturers who shed workers even as the economy began to recover.

FDIC: ‘Problem’ Banks at 775

May 22, 2010: WSJ.com — A total of 775 banks, or one-tenth of all U.S. banks, were on the Federal Deposit Insurance Corp.’s list of “problem” institutions in the first quarter, as bad loans in the commercial real-estate market weighed on bank balance sheets.

32 States Have Borrowed from the Federal Government to Make Unemployment Payments; California Has Borrowed $7 Billion

May 22, 2010: EconomicPolicyJournal.com has learned that 32 states have run out funds to make unemployment benefit payments and that the federal governmant has been supplying these states with funds so that they can make their payments to the unemployed. In some cases, states have borrowed billions.

Consumers Beware: Applying for Credit Can Torpedo a Credit Score

May 21, 2010: Yahoo.com — Without even realizing that they are doing anything wrong, millions of Americans each year inadvertently sink their credit scores by a significant amount just by applying for credit cards and loans.

Stealth IRS changes mean millions of new tax forms

May 21, 2010: (CNNMoney.com) — The massive expansion of requirements for businesses to file 1099 tax forms that was hidden in the 2,409-page health reform bill took many by surprise when it came to light last month. But it’s just one piece of a years-long legislative stealth campaign to create ways for the federal government to track down unreported income.

Whatever Germany does, the euro as we know it is dead

May 21, 2010: Telegraph.co.uk — In one respect, Mrs Merkel is right: “The euro is in danger… if the euro fails, then Europe fails.” What she has not yet admitted publicly is that the main cause of the single currency’s peril appears beyond her control and therefore her impetuous response to its crisis of confidence is doomed to fail.

US state pensions becoming federal issue

May 21, 2010: FT.com — Illinois used to have a plan to pay off the gaping shortfall in the pension funds that pay retired teachers, university employees, state workers, judges and politicians, Dan Long recalls.

A Time To Speak Out

May 21, 2010: ZeroHedge.com — I wasn’t going to write this week so this will be extremely brief. The entire charade that has been propagated on humanity is coming completely unglued and there is absolutely no stopping it. I have only one request to those that are reading this. If you know of specific incidences of corruption or serious wrong-doing come forth and tell everyone now. This is your last chance.

US Begins Massive Military Build Up Around Iran, Sending Up To 4 New Carrier Groups In Region

May 21, 2010: ZeroHedge.com — With just one aircraft carrier in proximity to Iran, the Nobel peace prize winner has decided to send a clear message that peace will no longer be tolerated, and has decided to increase the US aircraft carrier presence in the region by a 400-500% CAGR.

Senate passes massive Wall Street regulation bill

May 21, 2010: (AP) — Prodded by national anger at Wall Street, the Senate on Thursday passed the most far-reaching restraints on big banks since the Great Depression. In its broad sweep, the massive bill would touch Wall Street CEOs and first-time home buyers, high-flying traders and small town lenders.

TD Ameritrade clients unable to log in, trade

May 20, 2010: (AP) — Some clients of online brokerage T.D. Ameritrade Holding Corp. were unable to log into their accounts during Thursday’s market slide.

Pan-European Bank Run Is Now On

May 20, 2010: ZeroHedge.com — A quick look at the trading pattern of the GBPCHF shows that it is now UK depositors who are panicking and shifting their money to unnamed (not so much anymore) Zurich bank vaults.

James Turk sees gold at $1800-$2000 this year, silver at $30

May 20, 2010: Proactiveinvestors.co.uk — When asked at the end of his talk where he felt the gold price would be at the end of the current year, he reckoned around $1,800 to $2,000 – and also predicted that the more volatile silver price would achieve a level of $30 this year.

Small businesses’ credit card rates now 13.7% higher

May 20, 2010: USAToday.com — New evidence that banks have sharply increased rates for small-business credit cards has rekindled calls for Congress to intervene.

Stocks tumble as euro drops, jobless claims rise

May 20, 2010: (AP) — Stocks are tumbling after another drop in the euro and disappointing U.S. employment news have added to investors’ already bleak view of the world economy.

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year

May 19, 2010: Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him.

Stocks slide as mortgage delinquencies hit record

May 19, 2010: (AP) — Stocks resumed their slide Wednesday after investors looked past a rising euro to concerns about the U.S. economy. The Dow Jones industrial average fell about 115 points in morning trading.

Panera cafe says pay what you want

May 19, 2010: MSNBC.com –The national bakery and restaurant chain launched a new nonprofit store here this week that has the same menu as its other 1,400 locations. But the prices are a little different — there aren’t any. Customers are told to donate what they want for a meal, whether it’s the full suggested price, a penny or $100.

Short-run tax hikes being used to fill gaps

May 19, 2010: USAToday.com — Many states and cities coping with hard times are asking residents to open their wallets for the latest fashion in taxation — the temporary tax.

SEC proposes new rules for avoiding market plunges

May 19, 2010: (AP) — U.S. stock exchanges would briefly halt trading of some stocks that have big prices swings under new trading rules proposed Tuesday that are aimed at avoiding market plunges like the one that stunned Wall Street earlier this month.

German regulator issues naked short-selling ban

May 19, 2010: USAToday.com — Germany‘s market regulator announced a ban Tuesday on so-called naked short-selling of eurozone government debt and shares of major financial companies, a move that came as European officials seek to strengthen control of markets.

Senate Bill S510 Makes it illegal to Grow Food

May 18, 2010: Foodfreedom.wordpress.com — “If accepted [S 510] would preclude the public’s right to grow, own, trade, transport, share, feed and eat each and every food that nature makes.

Washington pushes for free credit scores

May 18, 2010: (CNNMoney.com) — People who are denied credit or a job because of their credit history may soon be able to get their credit score free of charge, thanks to an amendment passed by the Senate Monday evening.

Banks return to charging credit card, checking account fees

May 18, 2010: USAToday.com — Amid new limits on some of the industry’s most profitable practices, banks are turning back to familiar money-making strategies: annual credit card fees, monthly checking account fees and product bundling.

Credit card overhaul cuts bank fees by $5B

May 18, 2010: USAToday.com — New credit card and overdraft restrictions will save U.S. consumers from being charged at least $5 billion in fees this year alone at the largest U.S. retail banks and credit card companies, a USA TODAY analysis reveals.

Gold & Silver shops in Europe out of stock due to panic buying

May 17, 2010: uk.ibtimes.com — It is increasingly difficult to get physical gold or silver in Germany, where the biggest buying stampede ever registered is taking place. Especially smaller online shops for precious metals didn´t have enough stock to cope with the demand, but even the biggest retailers warn of long waiting times and shortages.

The following experts have said that the economic crisis could be worse than the Great Depression…

May 17, 2010: Washingtonsblog.com — Click here to see the list.

Venezuela’s Chavez orders takeover of iron-makers

May 17, 2010: Businessweek.com — President Hugo Chavez announced Saturday the expropriation of a group of iron, aluminum and transportation companies in Venezuela’s mining region.

BP Reports Some Success in Capturing Leaking Oil

May 17, 2010: NYTimes.com — After more than three weeks of repeated efforts to stop a gushing oil leak in the Gulf of Mexico, BP engineers achieved some success this weekend when they used a mile-long pipe to capture some of the oil flow and to divert it to a drill ship on the surface some 5,000 feet above the wellhead, company officials said on Sunday.

Greece Considering Legal Action Against U.S. Banks for Crisis

May 16, 2010: (Bloomberg) — Greece is considering taking legal action against U.S. investment banks that might have contributed to the country’s debt crisis, Prime Minister George Papandreou said.

Euro Falls to Lowest Since Lehman as Breakup Concern Increases

May 16, 2010: (Bloomberg) — The euro fell to its lowest level since the collapse of Lehman Brothers Holdings Inc. on concern that the 16-nation currency may be headed for disintegration.

Trichet: economy in deepest crisis since WWII

May 16, 2010: (AP) — The President of the European Central Bank was quoted Saturday as saying that he still sees Europe’s economy in its deepest crisis since World War II, or even World War I.

Eight banks face US investigation

May 16, 2010: BBC — New York Attorney General Andrew Cuomo is looking at whether the relationship between the banks and credit rating agencies was manipulated to gain a better ratings for risky securities.

College for all? Experts say not necessarily

May 16, 2010: (AP) — In a town dominated by the University of Missouri’s flagship campus and two smaller colleges, higher education is practically a birthright for high school seniors like Kate Hodges.

Regulators shut banks in Georgia, Illinois, Michigan, Missouri; makes 72 US failures this year

May 15, 2010: (AP) — Regulators on Friday shut down Midwest Bank and Trust Company in Elmwood Park, Ill., as well as three smaller banks in Georgia, Michigan and Missouri to bring the number of U.S. bank failures this year to 72.

Thousands of nonprofits may lose tax-exempt status

May 15, 2010: AP — More than 200,000 small nonprofits across the nation are days away from losing their tax-exempt status because they haven’t filed a new form with the Internal Revenue Service.

US faces one of biggest budget crunches in world – IMF

May 15, 2010: Telegraph.co.uk — Earlier this week, the Bank of England Governor, Mervyn King, irked US authorities by pointing out that even the world’s economic superpower has a major fiscal problem -“even the United States, the world’s largest economy, has a very large fiscal deficit” were his words.

State to Close 55 Parks and Historic Sites Monday

May 15, 2010: NBC.com — Starting Monday, 41 parks and 14 historic sites will be shut down and their gates locked.

Property Taxes UP, Soda Tax Out in Philly

May 14, 2010: NBC.com — New $3.9 billion budget will leave city with only $40 million surplus, concerning the mayor.

Republicans introduce bill to prevent Euro bailout

May 14, 2010: WashingtonPost.com — After a week of preemptive attacks on a possible IMF bailout of Greece, Rep. Mike Pence (R-Ind.) introduces the European Bailout Protection Act, aimed at preventing taxpayer dollars from going to a rescue plan.

The Panic Is On!

May 14, 2010: As the Great Depression of the 1930’s was getting underway, President Herbert Hoover refused to acknowledge it. In the weeks following the events of Black Tuesday, Hoover called the economy “fundamentally sound.” Months later, he still insisted that the strength of the American economy was “unimpaired.” However, by 1931 he could no longer hide the truth.

Senate votes to make credit card firms cut debit card transaction

May 14, 2010: USAToday.com — Striking at a lucrative bank business, the Senate on Thursday voted to force credit card companies to reduce fees for debit card transactions and permit merchants to offer customer discounts based on their payment method.

Andrew Cuomo digs into Wall Street ratings relationships

May 14, 2010: USAToday.com — New York Attorney General Andrew Cuomo sent subpoenas to eight large banks and three ratings firms late Wednesday — part of an investigation into whether banks figured out formulas to ensure that risky securities could get strong recommendations — according to a person with firsthand knowledge of the matter.

New 2,000-page Banking bill sets up new SuperSnooping Agencies

May 13, 2010: The bill sets up two new supersnooping federal agencies to collect data on ordinary Americans.

US faces same problems as Greece, says Bank of England

May 13, 2010: Telegraph.co.uk — Mervyn King, Governor of the Bank of England, fears that America shares many of the same fiscal problems currently haunting Europe.

Gold at all-time high and gold and silver bullion scarcity in Europe

May 13, 2010: Coinupdate.com — The COMEX closed at $1,220 for gold and $19.27 for silver on May 11, breaking the former gold high set early last December. Today, gold closed at $1,243 and silver at $19.66, the highest price since mid-March 2008!

U.S. posts 19th straight monthly budget deficit

May 13, 2010: (Reuters) – The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.

Bankers jailed, sued as Iceland seeks culprits for crisis

May 13, 2010: BreitBart.com — More than a year and a half after Iceland’s major banks failed, all but sinking the country’s economy, police have begun rounding up a number of top bankers while other former executives and owners face a two-billion-dollar lawsuit.

Bankers jailed, sued as Iceland seeks culprits for crisis

May 12, 2010: BreitBart.com — More than a year and a half after Iceland’s major banks failed, all but sinking the country’s economy, police have begun rounding up a number of top bankers while other former executives and owners face a two-billion-dollar lawsuit.

Fed Audit Under Fire

May 12, 2010: Campaignforliberty.com –It doesn’t come as too much of a surprise that the measure to audit the Federal Reserve is coming under continuous fire from the central bank and its cronies. For the first time since the Federal Reserve was created nearly a century ago, they have hired an actual lobbyist to pound the pavement on Capitol Hill.

Investor Demand for Silver Is Projected to Remain Strong—CPM Silver Yearbook 2010

May 12, 2010: (Kitco News) –Strong investor demand pushed silver prices higher in 2009 and that trend is likely to continue in 2010, CPM Group said Tuesday in its Silver Yearbook 2010.

SEC suspects it knows what didn’t cause Dow’s ‘flash crash’

May 12, 2010: USAToday.com — Securities and Exchange Commission Chairman Mary Schapiro said Tuesday that the cause of last week’s market mayhem is still unknown, but she practically ruled out a couple of popular theories.

Senate votes to examine Federal Reserve lending

May 12, 2010: (AP) — The Senate voted unanimously to peer into Federal Reserve decision-making Tuesday, authorizing an examination of the central bank’s emergency lending to financial institutions in the months surrounding the 2008 financial crisis.

High Frequency Terrorism: How the Big Banks and Federal Reserve Maintained Their Death Grip Over the United States

May 11, 2010: Ampedstatus.com –In the aftermath of Goldman Sachs’ public flogging before the world in Congress, and while under investigation, on the very day that Congress was voting on the “break up the too big to fail banks” amendment and cutting behind the scenes deals to gut the audit of the Federal Reserve, the stock market had its greatest sudden drop in history, plummeting 700 points in ten minutes – shades of September 29, 2008 all over again.

New Millennium Bank agrees to stop issuing credit cards

May 11, 2010: USAToday.com — A small New Jersey bank that specializes in credit cards for people with damaged credit histories has shut down its card program because of regulatory problems.

Food-stamp tally nears 40 million, sets record

May 11, 2010: (Reuters) – Nearly 40 million Americans received food stamps — the latest in an ever-higher string of record enrollment that dates from December 2008 and the U.S. recession, according to a government update.

Landscapers find workers choosing jobless pay

May 11, 2010: Detnews.com — In a state with the nation’s highest jobless rate, landscaping companies are finding some job applicants are rejecting work offers so they can continue collecting unemployment benefits.

Criminal Investigations Launched Against Chase for Precious Metal Manipulation

May 10, 2010: NYPost.com — Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market, The Post has learned.

DEBORCHGRAVE: Stock market time bomb?

May 10, 2010: WashingtonTimes.com — Even the world’s most savvy stock-market giants (e.g., Warren E. Buffett) have warned over the past decade that derivatives are the fiscal equivalent of a weapon of mass destruction (WMD) – potentially lethal.

U.S. Debt Shock May Hit As Soon As 2013: Moody’s

May 10, 2010: Investors.com — Spiraling debt is Uncle Sam’s shock collar, and its jolt may await like an invisible pet fence.

America has good reason to worry about Greece

May 10, 2010: FT.com — At the end of last week, the US looked hard at Greece and was scared. So tiny an economy should not be bringing all of Europe low and even threatening to explode the euro, but it is.

Oil spill grows to 3.5M gallons as BP scrambles

May 09, 2010: (AP) – A growing collection of crippled equipment littered the ocean floor Sunday near a ruptured oil well gushing crude into the Gulf of Mexico, the remnants of a massive rig that exploded weeks ago and the failed efforts since to cap the leak.

IMF board approves nearly $40 billion Greece loan

May 09, 2010: AP — The International Monetary Fund has put up nearly $40 billion to help bail out Greece and appease investors’ fears of a spreading European debt crisis.

4 Biggest Lies in Real Estate

May 09, 2010: Yahoo.com — Anyone gearing up to buy or sell a house this spring, however, has to bring a bit more skepticism to the process.

Illinois Budget Woes Come to a Boil

May 08, 2010: WSJ –Illinois lawmakers were in disarray Thursday as they groped for stopgap measures to address a $13 billion deficit equaling nearly half of the state’s general-fund revenue.

Minnesota Governor orders planning for halt in state services

May 08, 2010: AP –Pawlenty’s cabinet was to meet later in the day to discuss the plans for temporarily shutting down parts of government.

High-End Homeowners Falling Into Foreclosure Trap

May 08, 2010: CNBC.com –Heated pools, ocean views and media rooms are not what most people would expect to find in a foreclosed property, but more high-end homes—priced over a million dollars—have been falling into the hands of banks this year.

Opinion: Industry and investment will see silver do better than gold

May 08, 2010: Mineweb.com — Silver is the bipolar metal, as I refer to it occasionally, because it’s both an industrial metal and a monetary metal. If you look at the industrial side, it’s very bullish even in these recessionary times, meaning that silver needs to be used in all kinds of industrial applications.

FDIC shuts banks in Fla., Minn., Ariz., Calif.; 68 closed this year

May 08, 2010: (AP) — Regulators on Friday shut down banks in Florida, Minnesota, Arizona and California, bringing the number of U.S. bank failures to 68 this year.

New York Judges Resist Claims by Debt Collectors

May 07, 2010: NYT.com — As New Yorkers have tumbled into credit-card debt during the Great Recession, bill collectors have turned to the courts to get what they say is due, and the courts have in turn issued hundreds of thousands of orders against residents.

Iceland volcano to emit large new cloud: meteorologists

May 07, 2010: Breitbart.com — An Icelandic volcano which caused havoc to European aviation after erupting last month is to emit a large new ash cloud after surging back to life, meteorologists said Thursday.

‘That is Ridiculous. This Really Sounds Like Market Manipulation to Me’

May 07, 2010: Businessandmedia.org — Network reports 8 stocks went to one penny or zero, which contributed to freefall and drawing ire of ‘Closing Bell’ anchor.

U.S. Food Prices ‘Spiraling Out of Control’

May 07, 2010: Standeyo.com — U.S. food prices jumped by 2.4% in March 2010 in the largest monthly leap in more than 26 years, and the sixth consecutive monthly increase.

BREAKING: Dow Plunges Amid Europe Lending Worries

May 06, 2010: CNBC.com — The Dow was down about 400 points, or 4 percent, in the final hour of trading, after being down more than 900 points earlier.

Retail Sales Confirm That Wall Street Got WAY Too Optimistic About The Recovery

May 06, 2010: Business Insider — After March same store retail sales (SSS) rose by a 9.1% year over year thanks to an early Easter, analysts had far more subdued expectations of 1.7% growth for April according to Reuters.

FCC to impose some new regulations on broadband

May 06, 2010: USAToday.com — Federal regulators plan to impose some additional rules on broadband providers to ensure the government has authority to move ahead with a sweeping plan to bring high-speed connections to all Americans.

Bank bill could help feds snoop, GOP warns

May 06, 2010: WashingtonTimes.com — Fights over derivatives and bailouts are getting more attention, but Senate Republicans are planning a battle over two federal agencies created by Senate Democrats’ financial-regulation bill, warning that the proposed agencies give the government new ways to tap into consumers’ personal information.

UK budget deficit ‘to surpass Greece’s as worst in EU’

May 06, 2010: Guardian.co.uk — European commission’s spring forecasts put UK budget deficit this year at 12% of GDP – the highest in the European Union and worse than Treasury estimates

Republicans Relent, Allow Debate On Financial Overhaul To Begin

May 05, 2010: personalliberty.com — After voting for three consecutive days to block financial reform legislation from reaching the floor, Senate Republicans finally relented last week and agreed to allow floor deliberations to begin.

Toledo Man Streams Foreclosure Occupation Over Internet

May 05, 2010: Infowars — Keith Sadler is a victim of the Greatest Bankster Heist in History. He lost his UAW job thanks to the premeditated de-industrialization of America and now the bank wants to take his home through foreclosure. On Monday, he was to be evicted from his home in Toledo, Ohio, but he has vowed to resist.

States may ban credit checks on job applicants

May 4, 2010: (AP) — It’s hard enough to find a job in this economy, and now some people are facing another hurdle: Potential employers are holding their credit histories against them.

Why Do So Many Bad Things Keep Happening To The United States?

May 04, 2010: theeconomiccollapseblog.com — At a time when the American economy is already reeling like a drunken sailor, the United States is being hit by what seems like an endless parade of horrible disasters that threaten to push the fragile financial system over the edge.

US consumer inflation up two percent

May 04, 2010: BreitBart — Americans saw prices rise two percent in the year to March according to the Commerce Department’s personal consumption expenditures index published on Monday.

Gulf oil slick threatens $100 billion tourism industry

May 04, 2010: USAToday.com — As the Gulf Coast braces for a sprawling slick from a damaged oil well to hit its shores, the financial impact is already seeping into the region’s $100 billion-plus tourism industry, from New Orleans seafood restaurants to Florida vacation rentals.

Chinese automakers still can’t lick quality problems

May 03, 2010: USAToday.com — If you think Chinese small cars will inundate the U.S. the way that Japanese cars took the country by storm in the 1960s and 1970s, well, rest easy. Ain’t going to happen anytime soon. That’s because there is every indication that the Chinese are not only failing to lick their quality problems — but the cars may actually be getting worse.

Greece Gets $146 Billion Rescue on EU, IMF Austerity

May 03, 2010: (Bloomberg) — Euro region ministers agreed to a 110 billion-euro ($146 billion) rescue package for Greece to prevent a default and stop the worst crisis in the currency’s 11-year history from spreading through the rest of the bloc.

Oil spill disaster ‘out of control’

May 03, 2010: Timesonline.co.uk — THE Gulf of Mexico oil spill may be growing five times faster than previously estimated and is in danger of accelerating out of control, it was claimed yesterday.

The Silver Price Spiral, Part II: paper “inventories”

May 01, 2010: Benzinga.com — In Part I of this series, I suggested to investors that the price of silver will explode in an upward spiral – reaching levels even unimaginable to most silver bulls. A three-digit price for silver is guaranteed, while a four-digit price cannot be completely ruled out.

Bank failure total rises to 64

May 01, 2010: (AP) — Regulators on Friday shut down three banks in Puerto Rico, two in Missouri, and one each in Michigan and Washington, bringing the number of U.S. bank failures this year to 64.

China Remains Biggest Holder of U.S. Debt

May 01, 2010: WSJ.com — The verdict is in: China is still the top holder of U.S. government debt, the Treasury said in a report on Friday.

Why Are Silver Sales Soaring?

April 30, 2010: Minesite.com — The U.S. Mint just reported another record, but this time it wasn’t for gold. The Mint sold more Silver Eagles in March and in the first quarter of the year than ever before. A total of 9,023,500 American Silver Eagles were purchased in Q110, the highest amount since the coin debuted in 1986.

Oil Spill’s Blow to BP’s Image May Eclipse Costs

April 30, 2010: Yahoo.com — BP says that the offshore drilling accident that is spewing thousands of barrels of oil a day into the Gulf of Mexico could cost the company several hundred million dollars.

Criminal probe of Goldman Sachs opened, AP source says

April 30, 2010: (AP) — Stepping up the pressure on Goldman Sachs two days after its executives were grilled and publicly rebuked by lawmakers, the Justice Department has opened a criminal investigation of the Wall Street powerhouse over mortgage securities deals it arranged.

Spain jobless rate tops 20%, adds to debt worries

April 30, 2010: (AFP) – Spain’s jobless rate topped 20 percent in the first quarter, national statistics institute INE said Friday, fueling fears over the country’s public finances which have rattled global financial markets.

Protesters enter NYC bank buildings before rally

April 29, 2010: AP — Noisy protesters with signs took over two bank building lobbies on Thursday in a prelude to a Wall Street rally by workers and union leaders angry over lost jobs, the taxpayer-funded bailout of financial institutions and questionable lending practices by big banks.

Debt Contagion Getting Worse

April 29, 2010: WSJ.com — Spreads between the debt of fiscally troubled countries — Portugal, Ireland, Italy, Greece, Spain — are continuing to widen versus German debt, a sign of growing stress. The blowout in Greek vs. German spreads is getting downright comical.

In 2014, IRS will become health insurance enforcer

April 29, 2010: USAToday.com — The IRS processed more than 230 million tax returns last year, paid 127 million refunds and received about 68 million phone calls. The agency is responsible for enforcing a tax code that, at 71,000 pages, makes Anna Karenina look like a comic book.

Spain downgraded, Europe debt crisis widens

April 28, 2010: (AP) — Europe’s debt crisis mushroomed Wednesday as Spain saw its credit rating lowered, just as Germany sought to reassure nervous investors that Greece would not be allowed to go under, saying Berlin’s share of a key aid package could be approved in the next few days.

Europe debt crisis spreads to Portugal

April 28, 2010: (AP) — Greece was pushed to the brink of a financial abyss and started dragging another eurozone country — Portugal — down with it Tuesday, fueling fears of a continent-wide debt meltdown.

Gold rallies on mounting fear over eurozone debt crisis

April 28, 2010: english.people.com.cn — Gold futures on the COMEX Division of the New York Mercantile Exchange ended higher on Tuesday, lifted by escalating concerns that the sovereignty debt crisis is mushrooming to other debt-plagued eurozone countries. Silver and platinum both closed sharply lower.

Greece downgraded as Europe’s debt crisis worsens

April 27, 2010: (AP) — Europe’s government debt crisis worsened ominously Tuesday when Greece’s credit rating was downgraded to junk status and Portugal’s debt was lowered on fears the trouble could spread. Stocks slid on the news.

Harrisburg, Pennsylvania, Council Told to Consider Bankruptcy

April 27, 2010: (Bloomberg) — Harrisburg, Pennsylvania, which has missed $6 million in debt payments since Jan. 1, should consider seeking Chapter 9 bankruptcy protection, City Controller Dan Miller told a three-hour special committee hearing.

Special army unit ready to be deployed on American soil just before Nov. elections

April 27, 2010: Blacklistednews.com — In October of this year, one month prior to the November midterm elections, a special army unit known as ‘Consequence Management Response Force’ will be ready for deployment on American soil if so ordered by the President.

Wal-Mart may face giant class-action gender bias suit

April 26, 2010: USAToday.com — A divided federal appeals court on Monday exposed Wal-Mart to billions of dollars in legal damages when it ruled a massive class-action lawsuit alleging gender discrimination over pay for female workers can go to trial.

Hundreds Camp Out For Job Opps In Queens

April 26, 2010: CBS — Desperate times call for desperate measures – even if it means camping out in the rain for a chance at a job application.

Texas town vows fight to keep illegal immigrants from renting houses

April 26, 2010: McClathyDC.com — As the national debate over illegal immigration reignites, Farmers Branch remains in the middle of the battle as city leaders refuse to accept the unconstitutionality of rules they put in place to prevent illegal immigrants from renting homes.

More American Expatriates Give Up Citizenship

April 26, 2010: The New York Times — Amid mounting frustration over taxation and banking problems, small but growing numbers of overseas Americans are taking the weighty step of renouncing their citizenship.

How to turn your electronics into cash

April 24, 2010: Yahoo.com — If you’re like most Americans, you probably have a stockpile of old cell phones, laptops, or other electronics taking up valuable space in your home. It’s hard to know what to do with working gadgets you no longer need.

Gold could hit $1,600/oz but silver, pgms will likely outperform

April 24, 2010: Mineweb.net — In analysis published Thursday, Melek said, “Silver, platinum and palladium are expected to outperform gold, benefiting from their quasi-money properties and high use in industrial applications.”

Greece seeks bailout from IMF, European Union

April 24, 2010: (AP) — Hobbled by exorbitant borrowing costs, Greece triggered an emergency aid plan Friday to draw cash from the International Monetary Fund and countries that use the euro — the first test of whether the EU is prepared to bail out one of its members.

Regulators shut down 7 banks in Illinois; 57 closures for the year

April 24, 2010: (AP) — Regulators on Friday shut down seven banks in Illinois, putting the number of U.S. bank failures this year at 57.

Wholesale prices rise in March as food costs jump

April 22, 2010: (AP) — Wholesale prices rose more than expected last month as food prices surged by the most in 26 years.

California Underemployment Rate at 24 Percent

April 22, 2010: puppetgov.com — As the bubble burst so has the economy. Yet the current strategy seems to rely on real estate recovering again instead of building up jobs in other industries. If we look at the underemployment rate we are quickly approaching 24 percent.

Millions face tax increases under Dems budget plan

April 22, 2010: (AP) — President Barack Obama’s Democratic allies in the Senate promise to cut the deficit by almost two-thirds over the next five years, but their budget plan could threaten about 30 million people with tax increases averaging $3,700 in 2012 and after because of the alternative minimum tax.

America’s New $100 Bill Might as Well Be a Euro

April 22, 2010: VanityFair.com — How much socialism, rounded to the nearest thousand, is suggested by this country’s new $100 bill?

Obama suggests value-added tax may be an option

April 22, 2010: (AP) — President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days.

Google discloses demands for censorship, user data

April 21, 2010: (AP) — Google Inc. has set up a new tool to show where it’s facing the most government pressure to censor material and turn over personal information about its users.

Airports Reopen, Safety Debate Lingers

April 21, 2010: WSJ — Planes took to the skies again across much of Europe on Tuesday, despite nagging questions about the safety of flying through a cloud of volcanic ash that left planes grounded for five days.

GOP seeks SEC records on Goldman

April 21, 2010: Politico.com — Rep. Darrell Issa, the top Republican on the House Oversight committee, is demanding a slew of documents from the Securities and Exchange Commission, asserting that the timing of civil charges against Goldman Sachs raises “serious questions about the commission’s independence and impartiality.”

New speed cameras trap motorists from space

April 20, 2010: Telegraph.co.uk — A new type of speed cameras which can use satellites to measure average speed over long distances are being tested in Britain.

Medical marijuana business is on fire

April 20, 2010: USAToday.com –

Medical marijuana dispensaries are springing up in Colorado’s major cities like coffee shops, nail parlors, tanning salons or taco shops. It’s been 10 years since Colorado voted

Government Borrowing Is Rising Risk to World Financial System

April 20, 2010: IMF — The global financial system and the world economy are slowly regaining their health, thanks in large part to unprecedented interventions by governments, but the sharp rise in government debt during the economic crisis from already elevated levels helped create what the IMF says is the newest threat to the financial system: growing sovereign risk.

Cracking the Code

April 20, 2010: Inc.com –No one likes a bill, especially one filled with cryptic codes and indecipherable jargon. That’s a pretty good description of a statement from a credit card processor.

Wall Street suspects Goldman charges ‘not coincidental’ to financial reform effort

April 19, 2010: NYPost.com — Wall Street is more than a little suspicious of today’s charges by the Securities and Exchange Commission, which has accused Goldman Sachs of lying to investors about who was really behind junk mortgages securities it sold to clients.

US strike could delay Iran nuclear program-Mullen

April 19, 2010: (Reuters) – The nation’s top military officer said on Sunday that a U.S. strike against Iran would go “a long way” to delaying its nuclear program but that he considered doing so his “last option” right now.

Economy impact to rise sharply if Volcano ash cloud lingers

April 19, 2010: Yahoo.com — The economic impact of the volcanic cloud halting flights across Europe will increase sharply the longer disruption continues, forcing holiday cancellations, delaying deliveries and reducing jet fuel demand.

There is an established legal principle that people should not have to repay their government’s debt

April 17, 2010: WashingtonsBlog.com — There is an established legal principle that people should not have to repay their government’s debt to the extent that it is incurred to launch aggressive wars or to oppress the people. These “odious debts” are considered to be the personal debts of the tyrants who incurred them, rather than the country’s debt.

Precious metals prove white-hot for investors

April 17, 2010: Telegraph.co.uk — Gold has always been a favourite, but platinum, palladium and silver are also shining.

California jobless rate swells to 12.6 percent

April 17, 2010: (AP) – California’s unemployment rate hit a modern record of 12.6 percent in March, though it rose only a fraction over the previous month, the state Employment Development Department reported Friday.

Regulators shut 5 banks in Fla., Mass., Mich.

April 17, 2010: (AP) – Regulators have shut down five banks based in Florida, Massachusetts and Michigan, putting the number of U.S. bank failures this year at 47.

SEC accuses Goldman Sachs of civil fraud

April 16, 2010: (AP) — The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering.

$18 billion jobless benefits bill clears House, goes to Obama

April 16, 2010: USAToday.com — (AP) — Congress is sending President Barack Obama an $18 billion bill to restore unemployment benefits for people who have been out of a job for months and resume full Medicare payments to doctors threatened by a 21% cut.

US Senate climate bill to be unveiled April 26

April 16, 2010: (Reuters) – A long-awaited compromise bill to reduce U.S. emissions of carbon dioxide and other gases blamed for global warming will be unveiled by a group of senators on April 26, sources said on Thursday.

Foreclosure rates surge, biggest jump in 5 years

April 16, 2010: (AP) — A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.

Paper Records: What to Toss, What to Keep

April 15, 2010: Yahoo.com – The most important documents to hang on to are your annual tax returns. You should keep the actual returns forever, but you can get rid of the supporting documents after three years.

Camden Tent City Residents Get A Reprieve

April 15, 2010: (AP) ― Homeless people who built a community of campground tents just a few blocks from downtown Camden got a reprieve Thursday, allowing them to remain, at least for now, at the self-governing settlement in one of the nation’s poorest cities.

Silver, palladium rise to multi-month highs

April 15, 2010: (MarketWatch) — Silver and palladium broke new ground Wednesday, a strong day for commodities.

Markets could be derailed again, warns Soros

April 15, 2010: Reuters — Railway porter-turned-billionaire financier George Soros delivered a stark warning last night that the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis.

Beef price surges following harsh US winter

April 15, 2010: FT.com — Beef prices are soaring after cattle failed to fatten up during the harsh US winter and cash-strapped ranchers culled herds to cope with the recession.

Defaults Rise in Loan Modification Program

April 15, 2010: NYTimes.com — The number of homeowners who defaulted on their mortgages even after securing cheaper terms through the government’s modification program nearly doubled in March, continuing a trend that could undermine the entire program.

IMF Prepares For Global Cataclysm

April 14, 2010: ZeroHedge.com — The IMF has just announced that it is expanding its New Arrangement to Borrow (NAB) multilateral facility from its existing $50 billion by a whopping $500 billion (SDR333.5 billion), to $550 billion.

Healthcare overhaul won’t stop premium increases

April 14, 2010: LATimes.com — The new law doesn’t prevent rate hikes such as Anthem Blue Cross’ double-digit increase last year.

Many Filers Confused by Stimulus Tax Credit

April 14, 2010: TheNewYorkTimes – As the deadline approaches for filing tax returns, the process of claiming a tax break created by the stimulus package has proved to be more work than millions of people had bargained for.

Argentina seizes pension funds to pay debts. Who’s next?

April 13, 2010: blogs.telegraph.co.uk — Here is a warning to us all. The Argentine state is taking control of the country’s privately-managed pension funds in a drastic move to raise cash.

Homeowners making sacrifices in tough economy

April 13, 2010: (AP) — More than two thirds of Americans who’ve been unable to sell their home and buy one that better fits their needs have cut back on household expenses such as food, entertainment and clothing in order to pay their mortgage, a survey released Tuesday shows.

Depressed about our future

April 13, 2010: DiamonBackOnline.com — America is broke. We Americans have spent the last 15 years borrowing money for consumption instead of investment.

Senate finds fraud in Washington Mutual mortgage lending

April 13, 2010: USAToday.com — (AP) — Senate investigators say they found that the mortgage lending operations of Washington Mutual, the biggest U.S. bank ever to fail, were threaded through with fraud.

Silver Manipulation Whistleblower News picked up by Mass Media

April 12, 2010: NYPost.com — There is no silver lining to the activities of JPMorgan Chase and HSBC in the precious-metals market here and in London, says a 40-year veteran of the metal pits.

The Dow’s up but trades are scarce, worrying bulls

April 12, 2010: (AP) – Think Dow 11,000 is a big deal? Think again.

Income tax season spawns Internet spammer scams

April 12, 2010: USAToday.com — A wave of tax-related cyberscams is hitting the Internet.

42nd US bank failure in ’10 is South Carolina bank

April 10, 2010: (AP) — Regulators on Friday shut down a bank in South Carolina, marking 42 bank failures in the U.S. so far this year amid mounting loan defaults, especially in commercial real estate.

MSNBC’s Ratigan Remarkably Tells Truth About Bankster Scam

April 10, 2010: Infowars.com — Video

Foreclosures Hit Rich and Famous

April 10, 2010: WSJ — The rich and famous now have something in common with hundreds of thousands of middle and lower-class Americans: The bank is about to take their homes.

Dow may hit 11,000, but drop could follow ‘anchor’ point

April 09, 2010: USAToday.com — Fixated on Dow 11,000? Feel as if that psychological level is really important? Figure it’s a done deal that the iconic stock index will cross that big round number any day now? If so, you could be one of countless investors suffering from a mental malady that behavioral finance pros call “anchoring.”

Major U.S. Banks Masked Risk Levels: Report

April 09, 2010: (Reuters) — Major U.S. banks temporarily lowered their debt levels just before reporting in the past five quarters, making it appear their balance sheets were less risky, the Wall Street Journal said, citing data from the Federal Reserve Bank of New York.

Greece sinks deeper as loan costs hit record highs

April 09, 2010: (AFP) – Greece sank deeper into the financial mire as its borrowing costs soared to new heights on Thursday despite the government and European Central Bank insisting it did not need immediate help.

U.S. initial jobless claims up 18,000 to 460,000

April 09, 2010: (MarketWatch) — The number of people applying for unemployment benefits rose 18,000 to a seasonally adjusted 460,000 in the week ended April 3, the Labor Department reported Thursday.

DEP Sends Notices for Water Service Terminations to Homeowners

April 08, 2010: NYC – Environmental Protection Commissioner Cas Holloway announced that DEP today sent 18,545 notices to single-family homeowners for overdue water and sewer bills. This is the first of a series of notifications to homeowners owing $500 or more for six months or longer in an effort to prevent water service terminations.

7 Retirement Risks You Need to Prepare For

[Schedule A Survival Planning Consultation]

April 08, 2010: USNews.com — There are many things that could go wrong with even a carefully planned retirement. Inflation, running out of money, and future stock market slumps are possibilities that all retirement savers need to prepare for.

Florida says challenge to healthcare reform widens

April 08, 2010: (Reuters) – Five more states are joining a Florida-led group of states in a lawsuit challenging President Barack Obama’s overhaul of the U.S. healthcare system, Florida’s attorney general said on Wednesday.

College Grads’ Outlook Grim

April 08, 2010: WSJ — Despite signs of life in the job market, the outlook for newly minted college graduates remains grim and many are trying new strategies for landing positions.

Man Billed ‘Crash Tax’ For Emergency Response

April 07, 2010: CBS — If you get into a car accident and 911 is called, you may get billed for the emergency response.

IRS Launches New Global Program to Target ‘High Wealth Individuals’

April 07, 2010: - CNSNews.com — The Internal Revenue Service has launched a new global program to target what it calls “high wealth individuals,” IRS Commissioner Douglas Shulman said Monday.

Volcker: Taxes likely to rise eventually to tame deficit

April 07, 2010: (Reuters) – The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

IRS could tap refunds for health insurance penalties

April 07, 2010: (Reuters) – The Internal Revenue Service could tap individual tax returns to collect fines against people who fail to buy health insurance as required under recently enacted healthcare legislation, the U.S. tax commissioner said on Monday.

Leibovitz accused anew of not paying her bills

[freetoprosper.com strategic planning is meant to prevent such disasters]

April 06, 2010: (AP) – Photographer Annie Leibovitz is facing new accusations of balking at bills, less than a month after she struck a deal intended to resolve financial problems that had risked her rights to some of pop culture’s most famous images.

Chase expects credit card law to mean $750M cut

April 06, 2010: (AP) — JPMorgan Chase & Co. expects its credit card income to drop by up to $750 million because of recent regulations — and a lot of customers will get cut off as a result.

How the Credit CARD Act Will Affect Types of Credit Cards

April 06, 2010: creditcards.com — How will the CARD act affect you? That depends in part on which type of credit card you’ve got in your wallet.

Santelli: $4 Gas, $150 Oil Coming This Summer

April 06, 2010: NewsBusters.org — With summer driving season upon us, it’s important to note that there’s a traditional jump in gas prices. But will this seasonal adjustment benefit commodities, specifically oil and make the price of gasoline even higher? That could happen if those forms of energy lure investment from what seems to be an over-valued equities market, brought on by what some claim is cheap money.

Demand for gold stays high as precious metal’s lure endures

April 06, 2010: GulfNews.com — This strength in demand was achieved despite the average 12 per cent increase in prices over 2008.

Unemployment benefits expire for thousands

April 05, 2010: CNN — Extended unemployment benefits will temporarily expire for thousands of Americans on Monday because the Senate went on its spring recess without approving a one-month deadline extension.

Bank of Mom and Dad Shuts Amid White-Collar Struggle

April 05, 2010: WSJ — When Maurice Johnson was laid off a year ago from his six-figure salary as a managing director at GE Capital, it wasn’t his future he was worried about. It was his children’s.

Inflation warning etched in steel

April 05, 2010: MSN — Pretend it’s 1933, as so many in the deflation camp think it is or soon will be (at least from the price-of-everything standpoint). If last Wednesday you reached for a copy of that day’s Financial Times, would you have expected to see the following headline — “Steel prices set to soar: Everyday goods will cost more” — in large print above the fold?

Taxes on hotel rooms are rising

April 05, 2010: USAToday.com — More cities, counties and states are looking to raise taxes on hotel rooms as they battle budget shortfalls and cuts in services. Among those increasing taxes or considering it: Baltimore; Scottsdale, Ariz.; Santa Clara, Calif.; and Connecticut.

Obama to Crush Economy with Massive CO2 Taxes as Early as Next Week

April 03, 2010: CanadaFreePress.com — bandoning all loyalty to the democratic processes this nation holds dear, President Obama has made the decision that getting energy tax legislation through Congress with the approval of the American people is just too much of a pain to bother with. Instead he will have the EPA declare as early as next week that CO2 is a dangerous global warming gas and will start regulating its emissions immediately.

A Brave, New World for Precious Metals

April 03, 2010: BullionBullsCanada.com — My apologies to regular readers for being one of the last to get to the explosive developments in the precious metals market. I’ve been making final preparations for a speaking engagement, and had just begun a three-part series on U.S. markets when this news “broke”. I see these events as nothing less than THE biggest “news” in this sector since the world went off of a gold standard.

Florida Budget action sets up fight over health care, schools, roads

April 02, 2010: OrlandoSentinel.com — The Florida House on Thursday approved a $67.2 billion state budget on a party-line 74-44 vote, setting the stage for a month of hard bargaining with the Senate over funding for health care, schools, road building and state workers.

Prozac Pilots May Fly as FAA Drops Ban on Medicines

April 02, 2010: (Bloomberg) — Pilots taking Prozac will be permitted to fly as U.S. regulators drop a decades-old ban on four antidepressants including the Eli Lilly and Co. drug.

The Fed Admits To Breaking The Law

April 02, 2010: (Bloomberg) — After months of litigation and political scrutiny, the Federal Reserve yesterday ended a policy of secrecy over its Bear Stearns Cos. bailout.

The coming inflation wave

April 01, 2010: (Fortune) — Whether the American economy is in an inflationary or deflationary environment sounds like it should be a fundamental and settled question. But due to the unprecedented financial crisis, the answer is actually subject to intense debate among economists.

Sell-off in US Treasuries raises sovereign debt fears

April 01, 2010: Telegraph.co.uk — Investors are braced for a further sell-off in US Treasuries after dramatic moves last week raised fears that the surfeit of US government debt is starting to saturate bond markets.

ADP Says U.S. Companies Unexpectedly Cut Payrolls

April 01, 2010: (Bloomberg) — Companies in the U.S. unexpectedly cut payrolls in March, according to data from a private report based on payrolls.

Debt collectors: On the Rise

April 01, 2010: Money.com — Hoping to stamp out the problem, the city council recently contracted with an outside collection agency, hoping to recoup some of the outstanding debt.