US Stocks: Stocks Hold Strong Gains After Fed Minutes - US Business News. Stocks eased off their highs in the final minutes of trading, but still finished the first trading day of 2012 with a bang, as Wall Street cheered a handful of better-than-expected economic reports from around the world.
The Dow Jones Industrial Average jumped 179.82 points, or 1.47 percent, to finish at 12,397.38, led by Alcoa and JPMorgan . McDonald's was the biggest laggard on the blue-chip index. The S&P 500 rallied 19.46 points, or 1.55 percent, to end at 1,277.06. The Nasdaq added 43.57 points, or 1.67 percent, to close at 2,648.72. The CBOE Volatility Index, widely considered the best gauge of fear in the market, finished below 23. 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. I just received the SECOND call on this from California this week. The question is, do banks have the right to deny you cash withdrawals? The answer is NO. They do not. 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. Today, is in some ways a departure from the default assumptions. In a paper titled "Why is Unemployment Duration so Long", a question which simply requires a brief jog outside of one's ivory tower to obtain the answer, Rob Valleta and Katherin Kuang, manage to actually surprise us.
Fed says expand Fannie, Freddie role to aid housing. 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. To me, it’s a PR piece for Dimon and JP Morgan. USA Today gave a sloppy wet kiss and a free pass to Dimon to say whatever makes the bank look good. 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. Kodak Preparing for Chapter 11 Filing. Kodak's Former Moment, A Lesson for You, Me and America. Companies / TechnologyJan 25, 2012 - 06:16 AM GMT By: Gary_North Kodak declared bankruptcy last week.
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. Nobody Understands Debt. Nobody Understands Debt. Decentralization Is The Only Plausible Economic Solution Left. When I first began the process of launching the Alternative Market Project, the idea and scope were rooted in analytical papers I had written years before on aspects of centralization versus decentralization, and globalization versus localization.
Back then, I saw these conflicting economic systems as mutually generative. That is to say, the further we as a society are pushed towards collectivist or feudalist economic structures, the more we naturally or unconsciously gravitate towards independent and open markets. The problem today is that independent markets have been artificially and quite deliberately removed from the public view. As I have said in the past, centralization is a powerful tool for elitists, because it allows them to remove all choice from a system until the only options left to the people are those that the establishment desires. 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. Homeschoolers React to State of the Union Education Demand.
Home School Legal Defense AssociationP.O. Box 3000, Purcellville, VA 20134 WASHINGTON, D.C. —Last night in his State of the Union address President Obama called on all states to raise their school compulsory attendance age to 18, unnecessarily adding to bureaucratic requirements for homeschoolers. » US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP Alex Jones. Why They Won't Say "Lets Ban Knives" Bureau Of Land Management Kills Thousands Of Endangered Desert Tortoises Is Cynthia McKinney Part Of the Klu Klux Klan? Out West People Are Tired Of Being Pushed Around By The Government Dramatic Rio Grande Bureau Of Land Management Stare Down. U.S. Savings Bonds Go Paperless. 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. American's Comfortably Numb on the Highway to Economic Collapse. 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.