Anger About the Economy Fuels Republican Advantage
• abcnews.go.comGOP More PO'ed About Economy, and More Likely to Vote
Contents Pages by Subject
Economy - Economics USA
The American Housing Market Is Headed for Total Destruction
• whiskeyandgunpowder.comThe issue with the recent robo-signing scandal is that clear title could disappear in the American mortgage market. Part of the outrage is that U.S. banks have been foreclosing on mortgages which they don’t even own.
The Greatest Swindle
• arcleinMaking loans to people who are uncreditworthy, because they’ll agree to pay you more, and that’s how you grow rapidly. You can grow really fast if you loan to people who can’t you pay you back
Behind federal government's lies: real economic numbers prove US in Great Depression
• Terrence AymThe US government has been playing with the economic numbers for years and now the statistics have become nothing more than a carnival shell game. John Williams of American Business Analytics & Research LLC, has meticulously compiled the real numbers
Doomsday Book: 18 Hedge Fund Managers Scared The World Is Doomed
• Businessinsider.com/A bunch of leading hedge fund managers has just published a collection of essays looking at the serious possibility that the recent financial unpleasantness was just an amuse-bouche for the main event – the really ghastly crash that awaits us...
Today on LewRockwell.com - Tuesday October 12th 2010
• LewRockwell.comWill There Be a Second Revolution? - When the Dollar Crashes, Ron Paul might run - Mandated Dollar Destruction, Peter Schiff on quantitative easing and November 3rd - Silver Chopsticks and Rice, Stock up, and you could be very rich in 5-10 years, Ji
Google Plans Alternative Inflation Index Using Web Data
• Financial TimesGoogle is using its vast database of web shopping data to construct the ‘Google Price Index’ – a daily measure of inflation that could provide an alternative to official statistics. Highlights how economic data can be gathered far more rapidly using
Economy: Our next stop, the twilight zone
• The PPJ GazetteEconomists and entrepreneurs deal with reality—and from what I’ve been reading lately, quite different realities. I’m too simple to grasp parallel universes, so I’ve got to pick one to believe. Do I trust an economist that has studied job creation, o
Today on LewRockwell.com - Monday Oct 11th 2010
• LewRockwell.comThe Killing and Reviving of the American Dream - The Federal Reserve Will Implode - You Are a Secret Conspiracy Theorist - Be Like the Chechens - QE2 Can Sink the Dollar - A Boot on Your Throat
Alcoa supports aluminum-backed exchange traded fund
• ReutersNoting RUSAL, the world's biggest aluminum producer, said it would supply aluminum as an underlying asset for an ETF, the analyst asked whether Alcoa would do the same. "Yes, we would definitely be willing to provide metal in here, and we have always
Pennsylvania's capital seeks bankruptcy attorneys
• ReutersThe City Council of Harrisburg, the cash-poor capital of Pennsylvania, advertised for attorneys who could advise it on whether to file for bankruptcy or enroll in the state "distressed cities" program. A City Councilman noted municipal bankruptcies a
Chart of The Day: Why Real Personal Income May Never Grow Again
• Businessinsider.com/Why? Because as the chart shows, more than ever, personal income is comprised of government transfer payments, not actually real income derived from the productive part of society.
The 11 U.S. States Most Likely To Default And Need A Federal Bailout
• Businessinsider.com/But just how bad are those debt problems? It could drive some states to default if conditions get worse or force a federal government bailout.
10 Things You Should Know About The Latest Economic Numbers
• TheEconomicCollapseBlog.com/2 - The seasonally-adjusted Alternate Unemployment Rate compiled by Shadow Government Statistics shows that the real unemployment rate in the United States is worse than it has been ever since the economic downturn began. (22%)
Paul Craig Roberts: America's Third World Economy
• CounterPunch.orgThe facts, issued monthly by the US Bureau of Labor Statistics, had no impact on the ”New Economy” propaganda. Economists continued to wax eloquently about how globalism was a boon for our future.
Gonzalo Lira: The Coming Middle-Class Anarchy
• LewRockwell.comIf a big enough proportion of the populace – not even a majority, just a largish chunk – decides that it’s just not worth following the rules anymore, then that society’s days are numbered: Not even a police-state with an armed Marine at every...
The Ugliest US Unemployment Chart Just Got A Sight Nastier
• CalculatedRiskBlog.comUsing the preliminary benchmark estimate, this means that payroll employment in March 2010 was 366,000 lower than originally estimated.
Stewart Takes On Big Banks For Accidental Foreclosures
• huffingtonpost.comVideo
BLS Overestimated Jobs By 366,000 For The Year Ending March 2010
• ZeroHedge.comThe BLS has issued its estimate of the benchmark revision,which confirms that the BLS is really just BS. According to the report, for the period ended March 2010, the BLS has overestimated jobs by 366,000 (0.3%), or just over 30K jobs per month.
Reconstruction Finance Corporation (It's just like the Greatest Depression )
• http://wikileaks.org/Impending operational collapse of some of the largest U.S. banks will serve as the catalyst for re‐creation of RFC‐type liquidation vehicle(s) to handle the operational task of finally deflating the subprime bubble. (so what is an RFC?)
It's Now Obvious That The Crucial Economic Problem Is State Governments
• Businessinsider.com/Meredith Whitney recently issued a huge report about how the states represent systemic risk, and she's absolutely right. They're emerging as the key economic problem.
September Jobs Report -95,000, As Public Sector Slashes Employment Massively
• Businessinsider.com/This is definitely weaker than expected. Massive cutting on the public sector level really was the culprit. The losses were split between census and non-census employees.
Food Stamps: A Staggering Year Over Year Comparison
• Ritholtz.comThe chart gives you a state by state breakdown of the increase in households enrolled in the Supplemental Nutrition Assistance Program (SNAP))
How to Slash the State
• Reason14 ways to dismantle a monstrous government, one program at a time
Meredith Whitney: Middle Class to Suffer Most From Bank Rules
• CNBC.com"The real problem that exists is people just having credit ripped from their wallet. That's a social adjustment that we're going to have to deal with," said Whitney. "If you had money and you don't have money anymore, that's a traumatic experience.
Wanted: More Fraud, Abuse in Government Spending
• The New Republic / Jonathan CohnA new government report says the stimulus was virtually free of waste, fraud, and abuse. This is supposed to be good news. [Cohn's] not so sure.
Meredith Whitney: Banks, One More Good Quarter Before Bottom Falls Out
• Businessinsider.com/ & CNBC.comThis is partially a retread of what she said last week, but Meredith Whitney on CNBC says the banks will have one more decent quarter before we start to see new deterioration of credit quality, thanks largely to declining home prices.
IMF admits that the West is stuck in near depression
• Telegraph.co.uk/Strip away the political correctness, Chapter 3 of the IMF's World Economic Outlook more or less condemns Southern Europe to death by slow suffocation and leaves little doubt that fiscal tightening will trap North Europe, Britain and America...
Consumer Bankruptcy Filings increase in September
• CalculatedRiskBlog.comFilings were up 11% over the first 9 months of the year compared to the first 9 months of 2009.
Consumer Metrics Institute: Collapse Of Consumer Worse Than 2008-2009
• Businessinsider.com/The 2010 decline had already exceeded the length of the complete 2008 contraction cycle — the combined contraction and recovery. Now it has exceeded the depth of the contraction as well. (The contraction is now 263 days long.)
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