Jan 2012

Facebook Twitter
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. US Stocks: Stocks Hold Strong Gains After Fed Minutes - US Business News
The Sky May Be Falling, But it’s Only a Storm JG Vibes | There is no doubt that we are in the midst of a storm that has been raging for centuries, and the intensity of that storm is growing by the minute. For this, we have every reason to make any and all preparations that we deem to be necessary, but we should not be consumed by fear to the point where we are considering violence or nihilism. Senior Obama Admin Official: “We Are Going to Kill the Dollar” : Senior Obama Admin Official: “We Are Going to Kill the Dollar” :
Gerald Celente on Trend Forecasting and the Crisis of Western Civilization
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. ON BANKS REFUSING CASH WITHDRAWALS – Ann Barnhardt ON BANKS REFUSING CASH WITHDRAWALS – Ann Barnhardt
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. San Francisco Fed Admits Bernanke Powerless To Fix Unemployment Problem
Fed says expand Fannie, Freddie role to aid housing 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 … 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.
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. USA Today Gives JP Morgan Free Pass USA Today Gives JP Morgan Free Pass
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. Freddie Mac Betting Against Struggling Homeowners
Making Money On Poverty: JP Morgan Makes Bigger Profits When The Number Of Americans On Food Stamps Goes Up 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.
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 Preparing for Chapter 11 Filing Kodak Preparing for Chapter 11 Filing
Companies / TechnologyJan 25, 2012 - 06:16 AM GMT By: Gary_North Kodak declared bankruptcy last week. Kodak's Former Moment, A Lesson for You, Me and America
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. Breakout: S&P 500’s Highest Close Since July Could Fuel More Buying - Fast Money - CNBC
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. America’s Financial Leviathan - J. Bradford DeLong - Project Syndicate
Nobody Understands Debt
Nobody Understands Debt---Including Paul Krugman
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
Homeschoolers React to State of the Union Education Demand
» US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP Alex Jones
U.S. Savings Bonds Go Paperless
The Debt Supercycle Reaches Its Final Chapter | James J Puplava CFP
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' - TheHill.com
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
Jonathan Emord -- 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 | Arnold Bock
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” | Politics
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 | IGM Forum
» 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! | munKNEE.com
THE FALL OF AMERICA IS COMING
Everything You Need to Know About Wall Street, in One Brief Tale | Matt Taibbi | Rolling Stone
Silver Miners
The Global Elite Are Hiding 18 Trillion Dollars In Offshore Banks
47. The Shock of a New Paradigm
Economic Collapse -- 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