US Stocks: Stocks Hold Strong Gains After Fed Minutes - US Business News. Senior Obama Admin Official: “We Are Going to Kill the Dollar” : Gerald Celente on Trend Forecasting and the Crisis of Western Civilization. ON BANKS REFUSING CASH WITHDRAWALS – Ann Barnhardt. I have received enough calls and emails on this within the last few weeks to A.) cause concern and B.) merit a post.
People are having difficulty withdrawing cash from banks. San Francisco Fed Admits Bernanke Powerless To Fix Unemployment Problem. That the fine economists at the San Fran Fed are known to spend good taxpayer money in order to solve such challenging white paper conundrums as whether water is wet, or whether a pound of air is heavier than a pound of lead (see here and here) has long been known.
Furthermore, since the fine economists at said central planning establishment happen to, well, be economists, they without fail frame each problem in such a goal-seeked way that only allows for one explanation: typically the one that economics textbooks would prescribe as having been the explanation to begin with. Fed says expand Fannie, Freddie role to aid housing. WASHINGTON (Reuters) - The U.S. government-run mortgage finance firms Fannie Mae and Freddie Mac could play a bigger role in turning around the battered U.S. housing market, the Federal Reserve told Congress, a call that looks set to run into stiff political opposition.
The Fed, in a paper sent to lawmakers on Wednesday, outlined an array of steps that could be taken to help the housing sector, including allowing Fannie and Freddie to provide cheaper mortgages to a broader pool of homeowners. The two companies, the biggest sources of U.S. mortgage funding, were seized by the government in 2008 when they were on the brink of collapse. They have been propped up by $169 billion in taxpayer aid since then, making them a target of many on Capitol Hill. Even the Obama administration, in a trio of alternatives laid out early last year to reform the U.S. mortgage finance system, supported reducing the government's role in housing finance. Psychopaths Caused the Financial Crisis … And They Will Do It Again and Again Unless They Are Removed From Power. Psychopaths Caused the Financial Crisis Bloomberg notes: The “corporate psychopaths” at the helm of our financial institutions are to blame [for the financial crisis].Clive R.
USA Today Gives JP Morgan Free Pass. By Greg Hunter’s USAWatchdog.com Last week, I saw an interview in USA Today with JP Morgan Chase CEO Jamie Dimon.
Maria Bartiromo of CNBC was the reporter; so, I am not surprised to see a very soft ball story. I don’t know what you would call this kind of reporting, but it’s not journalism. Freddie Mac Betting Against Struggling Homeowners. Hide caption Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.
Pablo Martinez Monsivais/AP Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage. But Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom. These investments, while legal, raise concerns about a conflict of interest within Freddie Mac. Making Money On Poverty: JP Morgan Makes Bigger Profits When The Number Of Americans On Food Stamps Goes Up. How would you feel if someone told you that one of the largest banks on Wall Street makes more money whenever the number of Americans on food stamps goes up?
Unfortunately, this is something that is actually true. In the United States today, one out of every seven Americans is on food stamps. In fact, the number of Americans on food stamps has increased by a whopping 14 million since Barack Obama entered the White House. All of this makes JP Morgan very happy, because JP Morgan has been making money by the boatload on food stamps. Right now, JP Morgan Chase issues food stamp debit cards in 26 U.S. states and the District of Columbia. Kodak Preparing for Chapter 11 Filing. Eastman Kodak Co. is preparing to seek bankruptcy protection in the coming weeks, people familiar with the matter said, a move that would cap a stunning comedown for a company that once ranked among America's corporate titans.
The 131-year-old company is still making last-ditch efforts to sell off some of its patent portfolio and could avoid Chapter 11 if it succeeds, one of the people said. But the company has started making preparations for a filing in case those efforts fail, including talking to banks about some $1 billion in financing to keep it afloat during bankruptcy proceedings, the people said. A Kodak spokesman said the company "does not comment on market rumor or speculation. " A filing could come as soon as this month or early February, one of the people familiar with the matter said. Kodak would continue to pay its bills and operate normally while under bankruptcy protection, the people said.
Kodak's Former Moment, A Lesson for You, Me and America. Companies / TechnologyJan 25, 2012 - 06:16 AM GMT By: Gary_North.
Breakout: S&P 500’s Highest Close Since July Could Fuel More Buying - Fast Money. The S&P 500 closed above its closing high hit last October, a technical breakout that could spark more buying, chart analysts and traders said. How much buying, though, is subject to debate. It could go “a lot higher,” said Dennis Gartman, whose The Gartman Letter is usually filled with analysis of charts. “I’d like to see a bit more volume, but I’ll take what I can get.” Now at the highest since July, the benchmark leaves behind a 2 ½ month trading range it was trapped in as concerns about the European financial crisis continued to push it down.
The market is pricing in an improvement in the U.S. economy and good results in the upcoming earnings season, traders said. America’s Financial Leviathan - J. Bradford DeLong. Exit from comment view mode. Click to hide this space BERKELEY – In 1950, finance and insurance in the United States accounted for 2.8% of GDP, according to US Department of Commerce estimates. By 1960, that share had grown to 3.8% of GDP, and reached 6% of GDP in 1990. Today, it is 8.4% of GDP, and it is not shrinking. The Wall Street Journal’s Justin Lahart reports that the 2010 share was higher than the previous peak share in 2006. Lahart goes on to say that growth in the finance-and-insurance share of the economy has “not, by and large, been a bad thing....Deploying capital to the places where it can be best used helps the economy grow...” Nobody Understands Debt. Nobody Understands Debt. Decentralization Is The Only Plausible Economic Solution Left. Is college worth the money and debt? The cost of college has increased by 11x since 1980 while inflation overall has increased by 3x. Diluting education with for-profits. and saddling millions with debt.
Is a college degree worth it?
Since the debt bubble burst spectacularly in 2007 many more prospective students are questioning the worth of a college degree. For so many decades it was simply taken at face value that getting a college degree, any college degree would be worth it. LIVEBLOG: President Obama in Ann Arbor - January 27, 2012. Hello, Michigan! (Applause.) Oh, it is good to be back in Ann Arbor. (Applause.) Thank you, Christina, for that introduction. I also want to thank your president, Mary Sue Coleman. AUDIENCE MEMBER: I love you, President Obama! THE PRESIDENT: I love you back. Homeschoolers React to State of the Union Education Demand. Home School Legal Defense AssociationP.O. » US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP Alex Jones. U.S. Savings Bonds Go Paperless. Get Breaking News First. The Debt Supercycle Reaches Its Final Chapter. America overcomes the debt crisis as Britain sinks deeper into the swamp.
ELI5: What happens to America when it can no longer pay off its debts? : explainlikeimfive. When Times Get Tough, The Tough Get A Backbone. Insight: Recovery at risk as Americans raid savings. 2011 GDP: 1.7% U.S. Recovery Slowly Gained Speed in Late ’11, Data Show. CBO: Taxes Will ‘Shoot Up by More Than 30 Percent’ Over Next 2 Years. President Barack Obama, House Minority Leader Nancy Pelosi and Senate Majority Leader Harry Reid. (AP Photo/J. American's Comfortably Numb on the Highway to Economic Collapse. Politics / Great Depression IINov 27, 2011 - 02:36 PM GMT.
40 Hard Questions That The American People Should Be Asking Right Now. Breaking News Ellis Martin Report with Jim Sinclair. Jobs Number Should Be Good but Is It Downhill From Here? - US Business News Blog. Unemployment Drop Masks Ongoing Decline. Fed to Weigh Further Easing Amid Doubts About Recovery - US Business News. BofA told Fed it could sell branches in emergency: source. Big Banks Must Show Break-up Plans Under New Rule. JP Morgan Chase Continues PR Blitz. Michael Hudson: Banks Weren’t Meant to Be Like This. The Worst Economic Recovery Since The Great Depression. Fed: Benchmark Rate Will Stay Low Until ’14. Fed to Maintain Rates Near Zero Through Late 2014. If The Economy Is Improving…. The Fed Just Telegraphed: Buy Silver And Gold Now. Congressional Budget Office reports another $1 trillion deficit - David Rogers.
White House ‘Can’t Wait’ To Help Young People Get Summer Jobs. Obama to ask for increase to debt ceiling in a 'matter of days' Nation's debt passes grim milestone. Size of U.S. debt is now the same as its entire economy: $15.23 TRILLION. Obama asks Congress for debt limit hike - 44. Obama calls for debt-limit hike. Obama Flunks His Own Test. Taxpayers still owed $132.9B from bailout: report. Treasury ups auto bailout loss estimate.
Obama hopes to ride auto bailout to reelection. CBO: Taxes Will ‘Shoot Up by More Than 30 Percent’ Over Next 2 Years. Obama wants export agency, closing of Commerce Department. U.S. Debt Nears $15.194 Trillion Ceiling - Washington Wire. Obama on Pace to Borrow $6.2T in One Term—More Than All Presidents from Washington Through Clinton Combined. Gold advances/Ted Butler/Greece/Iran/USA now asks to raise debt ceiling officially. My Blog. Governments Will Want Much, Much Higher Gold Prices Soon! Here’s Why. My Blog. Under Obama, Price of Gas Has Jumped 83 Percent, Ground Beef 24 Percent, Bacon 22 Percent. Foreigners Sell Record $85 Billion In Treasurys In 6 Consecutive Weeks - Time To Get Concerned?
America's labour market: Hollowing out. Joseph Stiglitz: “A Banking System is Supposed to Serve Society, Not the Other Way Around” The Magazine - The Myth of American Productivity. Evans Says Jobless Rate May Rise as Progress ‘Transitory’ Harder for Americans to Rise From Lower Rungs. Did The Rich Get Rich From Hard Work or “Connections” ? - The Wealth Report. How to Save the Global Economy: Raise the Minimum Wage. A Lot. - by James K. Galbraith. The Middle Class Disappears, Rise of the Praetorian Class.
Is Obama Creating A Nation Of Dependents? Nearly Half Now Get Government Benefits. State of the Union: President Obama’s muddled plan to boost employment by hindering trade. Apple, America and a Squeezed Middle Class. The Great Skills Mismatch of Today's Economy [Infographic] - Crisp360. Latest Congressional Budget Outlook For 2012-2022 Released, Says Real Unemployment Rate Is 10%
Poll Results. » US Economic Forecast for 2012 and the Election Year Cycle Alex Jones. The Number One Catastrophic Event That Americans Worry About: Economic Collapse. 34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger. Economic System a Legal Ponzi Scheme on the Verge of Collapse! THE FALL OF AMERICA IS COMING. Everything You Need to Know About Wall Street, in One Brief Tale. Silver Miners. The Global Elite Are Hiding 18 Trillion Dollars In Offshore Banks. 47. The Shock of a New Paradigm. Why It Won't Be Stopped. Warning Signs That We Should Prepare For The Worst. Subculture of Americans prepares for civilization's collapse. Getting out of Dodge.