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Monday, March 23, 2009

China Afraid of Loss of Value of $2 Trillion of Reserves / Politics / US Bonds

By: Pravda

Dominick L. Auci writes: Chinese Premier Wen Jiabao is worried. His country keeps over $2 trillion of its foreign reserves in U.S. Treasuries. He's afraid that Obama's big spending plans will weaken the dollar and erode the value of those enormous assets. Given the dismal financial state of the rest of the world, that's a pretty high-class problem, especially for a devout communist. Jiaboa called on the United States to “honor its word, stay a credible nation and ensure the safety of Chinese assets”.

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Monday, March 23, 2009

Diverse Economy Comes After Communism and Capitalism / Politics / Global Economy

By: Pravda

In 1991 communism failed. In 2008 capitalism failed us. In the space of 17 years, two great economic systems based upon very elaborate and self-convinced ideologies collapsed. Two great peoples, American and Russian, are stunned and wandering in a vacuous period of human history, in a great pause between ages.

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Monday, March 23, 2009

Geithner's Financial System Plan, a Gigantic Confidence Game / Politics / Credit Crisis Bailouts

By: Mike_Shedlock

In case you missed this weekend's top story about Geithner's much anticipated plan to save the financial world via smoke and mirrors, please consider Toxic Asset Plan Foresees Big Subsidies for Investors

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Sunday, March 22, 2009

How Citigroup Incompetence Squanders U.S. Taxpayers Money / Politics / Credit Crisis Bailouts

By: Mike_Shedlock

Inquiring minds are reading Banks Selling Properties in Bulk for Cheap .
Mar. 19--Lenders have become so overwhelmed by the foreclosure crisis that they are starting to unload properties in bulk to investor groups at steep discounts. Investors then flip the properties for a profit without necessarily improving the home.

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Sunday, March 22, 2009

An American Outrage: Bernie, AIG, and Us / Politics / US Politics

By: Walter_Brasch

There have now been more than 4,000 deaths and 30,000 casualties of American military in the war in Iraq. More than 100,000 Iraqis and others, most of them civilian, have also been killed in what is now known to be an unnecessary war. But, we as a nation are not outraged.

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Sunday, March 22, 2009

U.S. Dollar as the World’s Only Reserve Currency is illegal / Politics / US Dollar

By: Pravda

A new world currency must be created under the aegis of the United Nations Organization, Kazakhstan's President Nursultan Nazarbayev stated during his speech at the 21 st Congress of the Eurasian Association of Universities in Astana.

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Sunday, March 22, 2009

Global Warming, CO2 and Carbon Communism / Politics / Climate Change

By: Pravda

Gregory Fegel writes: I think that the CO2-caused Global Warming theory is false and unproven junk science.

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Sunday, March 22, 2009

Fraudulent Ponzi Scheme Bailed Out Bank Executives Should All be Fired! / Politics / Credit Crisis Bailouts

By: Submissions

Keith Olbermann in his strong "Special Comment" calls on tighter regulation of the banks that have been fraudulently bailed out to the tune of trillions of tax payer dollars in the biggest ponzi scam in history. He also states that the crooked, lying thieving bank executives should ALL be fired, the conmen pretend to atone for their atrocities against America but instead the damn liars continue to defraud the tax payer.

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Sunday, March 22, 2009

Why We Should Own the Bailed out Banks / Politics / Credit Crisis Bailouts

By: Submissions

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.” -- Thomas Jefferson, 1802

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Sunday, March 22, 2009

Failure of Capitalism, Didn't We All See This Coming? / Politics / Credit Crisis 2009

By: Submissions

Timothy V. Gatto writes: The country is coming to conclusions that a year ago would be unthinkable. The current turmoil on Wall Street has convinced many Americans of something that has been said for years, but nobody really believed…entirely. That something was that lawyers and bankers cannot be trusted. The American people know by now that the advice is largely true, they can't be trusted. Neither can politicians, stockbrokers and financial advisors. In fact, people are starting to realize the entire concept of capitalism can't be trusted, not just for the average Joe, but for the entire country.

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Saturday, March 21, 2009

Ridiculous Whining at Citigroup, Bank of America Over Bonuses / Politics / Credit Crisis Bailouts

By: Mike_Shedlock

It's going to be interesting to see how quickly Congress and the administration caves in to banks and Wall Street after expressing so much indignation about bonuses over the last week.

Here is the backdrop.

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Saturday, March 21, 2009

Barack Obama and the Altar of Greed / Politics / US Politics

By: Submissions

David Michael Green writes: Barack Obama is dumber than a bag of hammers. I never thought I'd say that about the guy. I thought he would probably disappoint me with many of his policies. I thought he would probably fail to be bold enough for his times. I thought he might miss opportunities to do great things because of his seeming desire to be Mr. Rogers, complete with cardigan. But I never expected him to be really dumb.

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Saturday, March 21, 2009

Ron Paul: United States on the Verge of a Major Crisis / Politics / Credit Crisis Bailouts

By: Submissions

Ron Paul discusses the Stimulus bill and the AIG bonus controversy and how congress passes bills without reading them as congress as a tendency to react to events emotionally rather than look at the root of the problems.

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Saturday, March 21, 2009

United States Can Save Economy By Debt Default or Declare War / Politics / US Debt

By: Pravda

The United States is the largest borrower in the world. The US national debt has already exceeded the level of 11 trillion dollars as of the beginning of 2009 and continues to grow like an avalanche. Experts say that the USA has only two ways to solve the problem: to either declare default or trigger off a war.

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Saturday, March 21, 2009

America's Next Catastrophe is Brewing In Mexico / Politics / Mexico

By: Pravda

As if there were not enough things to worry about for the US, what with a dying economy, a spend happy neo-Marxist government in power, a stalemated war in Iraq and a loosing war in Afghanistan, here comes one more issue and the one that may create the final perfect storm: Mexico. As I predicted , dear readers, Mexico is in the process of total collapse. The drug war violence has spun out of control so quickly that it is now a civil war and unlike the small time civil war with Mexico's southern Indians the Zapatistas, this one has the potential to topple the state government in very short order.

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Friday, March 20, 2009

Was the TARP and the AIG Bailout Itself a Scam? / Politics / Credit Crisis Bailouts

By: Submissions

Paul Craig Roberts writes: Professor Michael Hudson (CounterPunch, March 18 ) is correct that the orchestrated  outrage over the $165 million AIG bonuses is a diversion from the thousand times greater theft from taxpayers of the approximately $200 billion "bailout" of AIG.  Nevertheless, it is a diversion that serves an important purpose.  It has taught an inattentive American public that the elites run the government in their own private interests.

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Friday, March 20, 2009

Big Business Fights Against Unionisation, Employee Free Choice Act / Politics / US Politics

By: Mike_Whitney

Big business has launched a no-holds-barred propaganda blitz against the Employee Free Choice Act. Their goal is to scare people into believing that if the bill passes it will trigger higher unemployment and a deeper recession. According to opponents, there's even the threat of creeping socialism. The truth, of course, is far less dramatic. The Employee Free Choice Act or so called "card check" simply makes it easier for unions to organize. Here's a short summary of the bill posted on the Change To Win web site:

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Thursday, March 19, 2009

Bailout Madness, Bonus Bonanza Bingo a Blessing In Disguise / Politics / Credit Crisis Bailouts

By: Mike_Shedlock

The name of the game is "Bonus Bonanza Bingo". The idea is to set the bonus as high as possible without having the masses scream bloody murder or Congress changing the rules. AIG took its turn and failed badly. Now Fannie Mae is at it.

Please consider Fannie Is Handing Out Its Own Sizable Retention Payouts .

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Thursday, March 19, 2009

China Sends Obama a Clear Message on U.S. Debt / Politics / US Bonds

By: Money_and_Markets

Tony Sagami writes: What would happen if your boss cut your salary, you had no savings, and none of the banks or credit card companies would lend you any money? You'd be in some deep doo-doo, wouldn't you?

Well … that's exactly the situation the U.S. is potentially staring at if foreign governments decide they don't want to loan us any more money by buying U.S. Treasury and other government-backed bonds.

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Wednesday, March 18, 2009

Credit Crisis Biggest Victims Get No Bailout / Politics / Credit Crisis 2009

By: Submissions

Amy Goodman writes: Taxpayers' bailout money for AIG bonuses has rightfully provoked a massive backlash against AIG, Wall Street, President Barack Obama and his economic advisers, Treasury Secretary Timothy Geithner and Larry Summers. The U.S. public now owns 80 percent of AIG. The outrage is bipartisan: Iowa Republican Sen. Charles Grassley even suggested that AIG executives "resign or go commit suicide." New York State Attorney General Andrew Cuomo just released details on the bonuses, exposing AIG's ridiculous claim that they are "retention bonuses" aimed at keeping key employees, since 11 of those who received bonuses of $1 million or more are no longer employed by AIG.

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