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Zimbabwe declares, “Banks, including those in the USA and the UK, are now not just talking of, but also actually implementing flexible and pragmatic central bank support programmes where these are deemed necessary in their national interests.
On a monthly basis, retail sales decreased 1.1% from February to March (seasonally adjusted), but sales are off 10.7% from March 2008 (retail and food services decreased 9.4%).
We think it is cute to use the TV to amuse our toddlers. Do you think it is any different for 75 per cent of the American public?
Merrill Lynch 'performance' bonus' totaled $3.6 billion...isn't socialism fun?
To put it in perspective, as of year end, the San Francisco bank had $481 billion of assets and shareholders equity of $45 billion. Thus if the losses forecast in the supposed downside scenario materialize, Wells is insolvent beyond any shadow of a d
The unemployment rate is at the peak level of the 1982 recession - the highest since record keeping started in 1947. The unemployment rate is increasing rapidly, and the rate of increase appears to be accelerating.
The Treasury Department is moving closer to naming Fannie Mae chief executive Herbert M. Allison Jr. to run its financial recovery program, according to people familiar with the matter. Allison, who has led Fannie Mae since the government
"The prescription of massive debt, of money printing, of releveraging the economy, is exactly what engendered the depression of 2008, and all of the remedies are the same virus that killed us," says Michael Pento, chief economists at Delta
Mesa is joining a growing list of cities around the country that are printing their own brand of money in hard economic times. It's not legal tender, and it's not good anywhere outside of Mesa. For that matter, right now it's not even
The P/E ratio for the end of the second quarter is 1944. The losses of the 4th quarter wipe out almost all earnings for the 12 months ending June 30. But by the end of the 3rd quarter, the estimated P/E ratio has dropped to a (negative) -467. That ha
Hey Ernie: I see that the Fed's believe that they can 'stress test' the banksters, conceal such vital info from the public (http://www.freedomsphoenix.com/Find-Freedom.htm?EdNo=001&At=048448) and somehow prevent them from collapsing
Read Letter
Does the state improve our lives by more efficiently delivering certain goods and services than we could expect from unregulated market? The market’s answer to that question is an unqualified “no.”
The U.S. Treasury Department is asking banks not to mention the regulatory "stress tests" as part of their first-quarter earnings results. Many of the top 19 U.S. banks who are undergoing regulatory stress tests have already completed inter
Rumor has it that times are tough for Manhattan’s “girlfriend elite.”
This is a much grander-scale disaster than anything that happened in 1929-33. Worse, it dwarfs the abuses of debt, finance and financialization that brought down previous leading world economic powers like Britain and Holland (back when New York was
Moody's Investors Service cut its credit ratings on Berkshire Hathaway Inc from AAA, the top rating, saying the recession and investment losses at insurance operations of investor Warren Buffett's holding company reduced its ability to suppor
As part of its sweeping plan to purge banks of troublesome assets, these investments would give ordinary Americans a chance to profit from the bailouts that are being financed by their tax dollars.
Many life insurers offer consumers variable annuities that pay a guaranteed return, regardless of whether bulls or bears are running the stock market. Although the obligations require payment years off, the financial markets are in such turmoil that
Unemployment (U-6) is well on its way to 20%. These are depression conditions.
Chrysler is working around the clock to complete an alliance with Italy's Fiat that would also result in a new board for the U.S. automaker, Vice Chairman Jim Press said. Chrysler, about 80% controlled by Cerberus Capital Management, was given un
Govt. May Spend More than $4 Trillion but Economy Faces 'Prolonged Weakness.' These were the findings released in a report today by the Congressional Oversight Panel, charged with overseeing the government's Troubled Asset Relief P
CNBC's Jim Cramer has another feud on his hands. Just weeks after "The Daily Show" host Jon Stewart took Cramer to task for trying to turn finance reporting into a "game," famous bear economist Nouriel Roubini criticized Crame
There's still bad news ahead for the U.S. economy and the bear market for stocks is not over yet, according to a prominent economist who foretold much of the current turmoil. Nouriel Roubini, a professor at New York University's Stern School
In Whitney's narrative financial firms will relive the worst struggles of 2008 because housing prices in the major markets will fall much further than expected.
If the plan goes through, the new GM would be expected to assume some previous creditor debt from bankruptcy proceedings, such as secured debt, said the second source, adding that GM bondholders were likely to lose substantial value in bankruptcy.
U.S. President Barack Obama needs to convince Americans to spend now and save later in order to get the U.S. economy back on solid footing. With consumers fearful of losing their jobs and retirement nest eggs, this is no small task at home or abro
The U.S. Treasury Department plans to extend the Troubled Asset Relief Program to certain life insurers. The Treasury is expected to announce within the next several days the inclusion of life insurers that are bank
Judge Andrew Napolitano's Great new show called Freedom Watch airing every Wednesday from 2pm - 3pm EST. Regular freedom loving guests include Ron Paul, Peter Schiff, Lew Rockwell, Cody Willard, etc.
"The recovery will look like an inverted square root sign," he said. "You hit bottom and you automatically rebound some, but then you don't come out of it in a V-shaped recovery or anything like that. You settle down, step down.
Businesses and individuals form a network to print currency. Shoppers buy it at a discount — say, 95 cents for $1 value — and spend the full value at stores that accept the currency.
