Financial crisis
Ron Paul: Be prepared for the worst
Be Prepared for the Worst by Ron Paul Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to 4%. Many of these are... »
The Coming Financial Time Bomb
From 2000 until its collapse, former Lehman Brothers CEO Richard Fuld received approximately $350 million in total compensation. In part, he was rewarded for growing the company’s earnings at an annual rate of 18% over that time frame … except that those returns were produced using 30-to-1 leverage on top of a shoddy asset... »
Is Social Security a Giant Ponzi Scheme?
Jim Cramer has called Social Security the largest Ponzi scheme in history. To an extent, he’s making a valid comparison. Like a Ponzi scheme, Social Security pays its benefits out of new contributions, rather than out of investment returns. read the full article at fool.com »
Dollar Falls Against Other Currencies
More than simply losing its cumulative value, the dollar has reached its lowest level of volatility since September 2008. Low interest rates have turned the dollar into a “funding currency,” whereby investors borrow dollars and buy a foreign currency like the euro, and use that currency to purchase to buy that foreign currency’s bond,... »
GM raises production as “clunker” sales rise
DETROIT (Reuters) – General Motors Co said on Tuesday it is increasing production for the second half of 2009 after a surge in sales ignited by the U.S. government’s “Cash for Clunkers” incentives program. GM is increasing overtime and has ordered an additional 60,000 more cars for the 3rd and 4th quarters of this year. It’s... »
Saying no to CIT a big gamble for Team Obama
In leaving CIT Group Inc to sink or swim on its own, U.S. officials are gambling that financial markets and the economy are now strong enough to withstand the possibility a big lender collapses BACKGROUNDER: CIT GROUP CIT Group, Inc. (NYSE: CIT) is a large commercial and consumer finance company, founded in 1908. The company is... »
Foreclosures at record high in first half 2009 despite aid
U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated. CLOSEUP: WHAT IS FORECLOSURE? Foreclosure is the legal and professional proceeding in which a mortgagee, or other lien holder, usually a lender, obtains a court ordered termination of a mortgagor’s... »
Graphing the Mancession
Eighty percent of job losses in the last two years were among men, said AEI scholar Christina Hoff Summers, and it could get worse. »
Obama: My Plan Makes Electricity Rates Skyrocket
Obama admits planning to create hardship. Wants forced submission. »
House Democrats Pass Bill to Damage American Economy
Bill based on global warming hoax has passed in the House. Rep. Chet Edwards, D-Waco, Texas, said his office received “several thousand calls” from constituents who were “overwhelmingly, 8 or 9 to 1,” against the bill. Rep. Joe Barton, R-Arlington, Texas, said the bill would “make us a second-rate economic power”. »
Out-of-work bachelors struggle in dating game
“To speak plainly, chicks don’t dig a broke guy,” said the Dallas resident, now a part-time consultant. So he came up with a strategy: “I don’t bring it up.” Men have been hit much harder than women by this recession. Close to 80 percent of the job losses since December 2007 were jobs held by... »
Sirius XM Prepares for Possible Bankruptcy
A bankruptcy would make Sirius XM one of the largest casualties of the credit squeeze. With over $5 billion in assets, it would be the second-largest Chapter 11 filing so far this year, according to Capital IQ. The filing by Smurfit-Stone, with assets of $7 billion, has been the year’s biggest to date. »
Animation: The Credit Crisis Made Easy
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo. »
Fed sees economy sliding further
Federal Reserve policy-makers, faced with bleaker forecasts for a rapidly worsening recession, decided to buy a “substantial” amount of U.S. Treasury and mortgage debt to halt the slide, minutes of their most recent meeting showed on Wednesday. »
IC: April 15th Tea Party Protests Must Demand Geithner Resignation
The April 15th Tea Party protests are ramping up to send a powerful message to Congress and President Obama about the government’s runaway spending and bailouts. »
Daily Show Video: Jim Cramer Unedited Interview (Pt. 3)
.cc_box a:hover .cc_home{background:url('http://www.comedycentral.com/comedycentral/video/assets/syndicated-logo-over.png') !important;}.cc_links a{color:#b9b9b9;text-decoration:none;}.cc_show a{color:#707070;text-decoration:none;}.cc_title a{color:#868686;text-decoration:none;}.cc_links a:hover{color:#67bee2;text-decoration:underline;} The Daily Show With Jon StewartM – Th 11p / 10c Jim Cramer Unedited Interview Pt. 3 Daily Show Full EpisodesImportant Things w/ Demetri Martin Political HumorJim Cramer »
Daily Show Video: Jim Cramer Unedited Interview (Pt. 2)
.cc_box a:hover .cc_home{background:url('http://www.comedycentral.com/comedycentral/video/assets/syndicated-logo-over.png') !important;}.cc_links a{color:#b9b9b9;text-decoration:none;}.cc_show a{color:#707070;text-decoration:none;}.cc_title a{color:#868686;text-decoration:none;}.cc_links a:hover{color:#67bee2;text-decoration:underline;} The Daily Show With Jon StewartM – Th 11p / 10c Jim Cramer Unedited Interview Pt. 2 Daily Show Full EpisodesImportant Things w/ Demetri Martin Political HumorJim Cramer »
Daily Show Video: Jim Cramer Unedited Interview (Pt. 1)
The Daily Show With Jon StewartM – Th 11p / 10c Jim Cramer Unedited Interview Pt. 1 Daily Show Full Episodes Important Things w/ Demetri Martin Political Humor Jim Cramer »
Buffett: crisis is an economic Pearl Harbor
The comments from the Berkshire Hathaway chairman formed part of a wide ranging interview on CNBC. In the interview he also recommended the toxic assets held by banks as a good pick and urged consumers not to condemn executives who use corporate jets. The financial sector, he forecast, would not return to health for... »
Forbes: Laissez-Faire Capitalism Has Failed
It is now clear that this is the worst financial crisis since the Great Depression and the worst economic crisis in the last 60 years. While we are already in a severe and protracted U-shaped recession (the deluded hope of a short and shallow V-shaped contraction has evaporated), there is now a rising risk... »
CNBC: Introducing ‘Ganjanomics’
“To heck with the pharmaceuticals, what the market needs now is medical marijuana – we need a bong break, the whole country needs a bong break.” »
U.S. GDP Shrank 3.8% Last Quarter, Most Since 1982
The 3.8 percent annual pace of contraction in the final three months of last year was less than forecast, with a buildup of unsold goods cushioning the blow. Without the jump in inventories, the decline would have been 5.1 percent, the Commerce Department said today in Washington. »
Housing Prices Keep Dropping. And They’re Not Done Yet
The median sales price of existing homes fell to $175,400 in December, down 15.3% from a year earlier, according to the National Association of Realtors (NAR). And the S&P/Case-Shiller index shows that home prices in 20 cities fell 18.2% in November compared with the year before. Both measures make houses about as expensive as... »
Britain on the brink of an economic depression, say experts
Britain’s economy shrank by 1.5 per cent in the last quarter of 2008, largest GDP fall since 1980; British Pound drops to $1.3688, while the Bank of England edges interest rates to zero. »
Deflation threat: Inflation slows to half-century low in 2008
Inflation slowed to a half-century low this past year and industrial output fell for the first time since 2002, data showed on Friday, as the recession deepened toward year-end, raising the specter of deflation. »
U.S. Lost Over Half Million Jobs in November
The figures suggest the year-old recession will approach or even exceed the 1981-1982 downturn in severity and support expectations that Federal Reserve officials will soon lower interest rates to levels not seen in a half century. »
Recession: When the money goes, so does the toxic wife
‘You loser!” screamed Katie, aiming a vase at her husband. “You’ve destroyed my life,” she continued, hurling it. “Just look at my hair, look at my nails! You loser, you jerk, you nobody.” (Warning: ad audio begins on page load.) »
4 new reports reveal battered economy
To revive the economy, President-elect Barack Obama has said a top priority will be working with Congress to enact a stimulus package with the goal of creating 2.5 million new jobs over the next two years. »
Obama promotes fiscal restraint, big spending
The dual images — big spender and disciplined budget watcher — were designed to give both political and economic assurances to the public, the Congress and the financial markets. »
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