The committee to wreck the USA
• iTulipForget the Bush tax cuts. We need a $1 trillion per year post credit bubble debt cut, but we're not going to get one. That's why the gold price is going through the roof.
Contents Pages by Subject
Economy - Economics USA
Prechter: We're On The Verge Of The Biggest Bear Market In 300 Years
• Businessinsider.com/Yes, Britain’s “South Sea Bubble” in the early 1720s was the last time a bear market was comparable to what we may see unfolding now...
Household Net Worth Plunged By $1.5 Trillion in Q2 2010
• ZeroHedge.comHousehold net worth (assets less liabilities) in Q2 2010 plunged by $1.5 trillion, almost exclusively due to a plunge in Corporate Equities ($0.9 trillion) and Pension Fund holdings ($0.7 trillion). In other words, the net wealth of the US household.
Recession Indicator Was Buried Inside Yesterday's Philly Fed Survey
• Businessinsider.com/The percentage of companies reporting seeing a decrease in sales broke over 30%, and historically everytime that's happened, a new recession has followed closely thereafter...
Today on Lewrockwell.com - September 17th 2010
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Max Keiser Interviews Stoneleigh, and A Nation Under The Gutting Knife
• TheAutomaticEarth.blogspot.comThe way I see it it's imperative to realize the strong possibility of much fiercer currency wars in that race to the bottom.
Retirement on Hold: American Workers $6 Trillion Short
• CNBC.comThe $6.6 trillion figure is based on projections of retirement and income for American workers ages 32-64. The study's authors say they arrived at the amount using conservative assumptions, including a 3 percent rate of return on assets...
US homes lost to foreclosure up 25 pct on year
•US home repossessions spike in August to highest level since start of mortgage crisis
Today on LewRockwell.com - Sept. 16th 2010
• LewRockwell.comGlenn Beck Is a Socialist - Government Dominoes Topple - US Debt Is a Huge Problem - The Depth of Deceit in JFK's Murder - Badass Conspiracy Movies - How To Clean Like a Man - The Story of Silver
Small Business Spending Plans Spell Doom In The Next Year
• Businessinsider.com/In the name of Bob Farrell’s Rule #2, as it pertains to mean reversion, either NFIB surges from here or ... look out below with regard to the growth rate in industrial activity.
US Poverty Rate Highest Since 1994, 43.6 Million Living Below Poverty Line
• ZeroHedge.comIn 2009, 43.6 million people were in poverty, a 3.8 million increase from 39.8 million in 2008—the third consecutive annual increase in the number of people in poverty.
The Nightmare Details Behind The Ugly Philly Fed Miss
• Businessinsider.com/ & ZeroHedge.comWe have the details that indicate a prolonged slowdown right here, including hiring plans, capital expenditures, and new orders.
Unprecedented 19th Sequential Equity Outflow, $10 Billion In September
• ZeroHedge.comIt is beyond a joke now: This is the 19th sequential outflow from US stocks, and amounts to $65 billion in redemptions for the year.
States Cutting Benefits for Public-Sector Retirees
• APSince 2008, New Jersey and at least 19 other states from Wyoming to Rhode Island have rolled back pension benefits or seriously considered doing do — and not just for new hires, but for current employees and people already retired.
Gallup Confirms Consumer Confidence Deteriorates Substantially
• ZeroHedge.comIn recent weeks, 63% of consumers have said economic conditions are "getting worse." These future expectations for the economy are among the worst of 2010 and have deterioriated substantially from this point in 2009.
Today on LewRockwell.com - Wednesday September 15th 2010
• LewRockwell.comWill There Be Enough Food? - Investing in Gold - Why Libertarians Oppose War - Swiss Institutions Ask: Where's the Gold? - US Faces 'Explosion of Social Unrest' - Gold Confiscation? - Beware of Videotaping Cop Abuse - Why Carry a Gun?
Doomsday warnings of US apocalypse gain ground
• AFPEconomists peddling dire warnings that the world's number one economy is on the brink of collapse, amid high rates of unemployment and a spiraling public deficit, are flourishing here. The guru of this doomsday line of thinking may be economist No
Insider Selling Outpaces Buying By Over 650-To-1 In Past Week
• ZeroHedge.comAccording to Bloomberg, for the week ended September 10, corporate insiders bought $0.5MM in shares in 4 different companies. This was offset by sales of $332MM in 72 different companies, a ratio of 651 of sellers to buyers.
Who Is Telling You the Truth About Consumer Spending, CNBC or Gallup?
• Market-ticker.denninger.org/If these figures are in fact accurate or anything close to accurate then the so-called GDP numbers, along with "consumer spending" as reported by the government are absolute fictions.
Outlook Gloomy at Secret Billionaire Meeting
• CNBCThis year’s group, totaling fifty individuals and including more than 10 billionaires, was decidedly pessimistic on the U.S. economy, investment opportunities and the Obama administration.
U.S. Economy’s Missing Ingredient Can’t be Restored by Govenrment
• John HaywardThrow away the many charts, graphs and theories, there is one important element missing from the economy today. Until we find it again, all the stimulus in world won't help. What is it? John Hayward answers that question in today's Impertinent Ques
Americans Living In Poverty Soars Under Barack Obama
• RawStory.comThe number of people in the US who are in poverty is on track for a record increase on President Barack Obama's watch, with the ranks of working-age poor approaching 1960s levels that led to the national war on poverty.
Max Keiser: Middle Class, What Middle Class?
• Youtube.comListen till the end.
James Howard Kunstler: In The Headlights
• Kunstler.comIn the meantime, the managers of US polity, Mr. Barack Obama and Company, look to continue scattering goat innards on the new carpet in the Oval Office in their desperate seeking for a miraculous return to the non-stop celebration that was...
It is the Mortgages, Stupid!
• arcleinThe anger of wannabe consumers who no longer feel they have the wherewithal to feed that most important of American passions is what is fueling the widespread rage against elected officials. The Democrats, being the party in power, are the most popul
Pimping Youth: Student loan debt now surpasses total credit card debt
• MyBudget360.comPast and current students carry a stunning $829 billion in student loan debt. The cost of a college education has far outpaced the rate of inflation.
Economists cut U.S. growth forecast again
•Projected U.S. economic growth for the rest of this year and next was revised down for a third month in a row by a panel of about 50 economists.
Colleges Pimping Our Children to the Credit Card Companies
• Market-ticker.denninger.org/You mean to tell me that colleges have been getting a kickback on students going into debt on credit cards? So the deeper you go into debt and the more interest you pay, the more the college gets?
Deleveraging: Consumer Spending Declines Again In August
• Businessinsider.com/This is what happens when you have a gigantic debt pile weighing down your back. According to Gallup, consumer spending declined across the board in August.
The Middle Class in America Is Radically Shrinking.
• EconomicPolicyJournal.com• 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007. • 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
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