Census: Housing bust worst since Great Depression. Greece Adopts New Property Tax. Tom Woods - Is Ron Paul Wrong on Money and the Constitution. EUROZONE PREPARES FOR MASSIVE JOLT: INSOLVENT BANKS SET TO TUMBLE « Case About Bird Flu. Janet Daley writing in the Telegraph expresses well the sense of apocalypse currently gripping the eurozone as insolvent banks and insolvent states come tumbling down. The stark figures of the bank balance sheets show why a bank crash is now inevitable and underline the urgent need to set up a new financial system by the end of the year or the beginning of next year at the latest. If nothing is done to reset Europe’s financial button, the result could be an economic depression far worse than the 1930s as banks go bust and jobs are lost.
The 91 largest eurozone banks in the eurozone need about €4000 billion or four trillion euros to roll over their debt or funding in the next year alone , according to the FT. The total GDP of the eurozone is about 12 trillion euros. That means, the largest banks need one third of the total GDP of the eurozone to remain solvent for just one more year. ECB Praises Irish Central Bank Reform Plans. 20 September 2011 0Google + 0Delicious 0Reddit The Central Bank of Ireland (CBI) will see its supervisory and enforcement abilities enhanced under new legislation, the European Central Bank (ECB) has said, welcoming this latest stage in the government’s overhaul of the banking system.
The Central Bank (Supervision and Enforcement) Bill 2011 was published at the end of July by Finance Minister Michael Noonan. As the ECB notes, the bill is intended to enhance the CBI’s powers to supervise regulated financial services providers and enforce financial services legislation. Skilled person reports. The general observation made by the ECB is that the bill will enhance the supervisory and enforcement tools available to the Central Bank of Ireland. Commenting on the ECB’s statements, Noonan said: “I welcome the publication of the ECB’s opinion on the Central Bank (Supervision and Enforcement) Bill 2011.
Bernanke Tolerating Inflation to Revive Economy. Inflation flashing red may be less of a green light for higher interest rates as global growth falters. Some Federal Reserve policy makers favor keeping their benchmark rate close to zero until price increases reach a level Vincent Reinhart, a former top official, says could be 3 percent. The Bank of England has held its key rate at a record low even as U.K. inflation breached its 2 percent target for 21 months. Brazil executed a surprise cut Aug. 31 to safeguard its economy even after inflation quickened to a six-year high. Policy makers such as Fed Chairman Ben S. Bernanke and Bank of England Governor Mervyn King may be challenging central-bank orthodoxy to replenish depleted toolkits and support recoveries at risk of sliding back into recession.
“There’s a hint of desperation here,” said Kochan, who helps manage $216 billion in Menomonee Falls, Wisconsin. Mervyn King, governor of the Bank of England, left, and Ben S. Mervyn King, governor of the Bank of England, left, and Ben S. Close. Goodbye Euro, Hello Drachma. A few months ago, when Zero Hedge first broke the news that the Drachma is trading at several major banks on a "when issued" basis at the client's request, it was promptly dismissed. Alas, it may be time to dismiss the dismissal, after Spiegel reports that as one of the scenarios considered for a Greek default, Germany anticipates the reintroduction of the drachma by the pathological liars at the Greek parliament. Yes: the currency that Greece was so happy to jettison 10 years ago when after the assistance of Goldman to hide its bloated debt, to much pomp and circumstance it entered the soon to be defunct Eurozone, is coming baaaaack.
From Spiegel, with the article recreated in its entirety as the implications for the EUR, the eurozone, and crony communism as massive: As for what happens to all the trillions in other interconnected debt, should all Euro bills have to white out the Greek text on then, we imagine the word "prayer" is key. World in ‘Dangerous’ Period With Europe Turmoil: Zoellick. World Bank President Robert Zoellick indicated that risks to the global economy are intensifying, with the euro region’s outlook dependent on European leaders making the right decisions.
“We are moving into a dangerous period,” Zoellick said in an interview with Bloomberg Television in Singapore today. While the U.S. is likely to avoid a return to recession, escaping with slow growth, the euro zone is facing a “particularly sensitive time,” he said. Zoellick’s comments add pressure to European officials who have yet to contain a sovereign debt crisis that threatens to engulf Italy, whose government bonds in euros have tumbled for a record 11 straight days. Finland has sown division among policy makers by seeking collateral for loans to Greece, the first of the three euro-region nations to receive bailouts so far. Asian stocks and U.S. futures fell and the euro slid for a fifth day against the Swiss franc on concern Europe’s debt crisis is worsening. ‘Stall Speed’ European Meeting. Ministry of Finance - Economic Overview of Israel. This page contains brief and general information on the Israeli economy, with links to more detailed publications. Some of the Israeli government publications in this page are not Ministry of Finance publications.
For these, the relevant governmental source will be mentioned. Introduction Established in 1948, Israel is the world's only Jewish state, and the sole democracy in its vicinity. Israel is made up of more than seventy different nationalities and cultures and is home to religious and ethnic minority populations such as Muslim Arabs, Christians, and Druze. Jerusalem is the nation's capital, seat of government, and its largest city. Israel Innovation (by AIPAC) The Israeli economy is a diverse open market economy. Israel is known for its unique entrepreneurial and innovative spirit, and excels in: Research and development Human capital Entrepreneurship Venture capital availability Utility patents per million population Did you know Israel is?... Did You Know?... Israel in Figures. Record Silver Coin Sales at Perth Mint is the Top Story On Bloomberg Right Now. WETHEPEOPLE #Economy #Obama #MiltonFriedman Rocks, #Keynesian s are dumber than a box of Rocks #Edu.
Changing Tides: Research Center Under Fire for 'Adjusted' Sea-Level Data - FoxNews.com. In a NASA "what-if" animation, light-blue areas in southern Florida and Louisiana indicate regions that may be underwater should sea levels rise dramatically.NASA Is climate change raising sea levels, as Al Gore has argued -- or are climate scientists doctoring the data? The University of Colorado’s Sea Level Research Group decided in May to add 0.3 millimeters -- or about the thickness of a fingernail -- every year to its actual measurements of sea levels, sparking criticism from experts who called it an attempt to exaggerate the effects of global warming. "Gatekeepers of our sea level data are manufacturing a fictitious sea level rise that is not occurring," said James M.
Taylor, a lawyer who focuses on environmental issues for the Heartland Institute. "We have to account for the fact that the ocean basins are actually getting slightly bigger... water volume is expanding," he said, a phenomenon they call glacial isostatic adjustment (GIA). Taylor calls it tomfoolery. Taylor agreed. Obama's "hope & change" schtick vs. unemployment reality #economy #tcot #tlot #teaparty. Revisiting Unemployment Predictions | e21 - Economic Policies for the 21st Century. Conspicuous Correlation: Retail Sales May 2011. Today, the U.S. Census Bureau released its latest nominal read of retail sales showing an decline of 0.2% since April bringing the total increase since last year to 7.7% on an aggregate of all items including food, fuel and healthcare services. Nominal discretionary retail sales including home furnishings, home garden and building materials, consumer electronics and department store sales increased 0.01% from April increasing 3.13% above the level seen in May 2010 while, adjusting for inflation, “real” discretionary retail sales actually declined 0.43% over the same period.
On a “nominal” basis, there had appeared to be “rough correlation” between strong home value appreciation and strong retail spending preceding the housing bust and an even stronger correlation when home values started to decline. Labels: economy, retail sales. Rosenberg Sees '99% Chance' of US Recession by 2012. Hawaii’s Mauna Kea summit blanketed with 3 inches of snow. The Extinction Protocol Geologic and Earthchange News events Skip to content ← NASA finds turbulent sea of magnetic bubbles at the edge of the solar system Rumblings along New Madrid: 4.2 magnitude earthquake rattles E.
Missouri → Hawaii’s Mauna Kea summit blanketed with 3 inches of snow Posted on June 7, 2011 by The Extinction Protocol June 7, 2011 – HAWAII – Snow on the summit of Mauna Kea: it’s not exactly a rare sight during a Hawaiian winter. About these ads Share this: Share Like this: Related Winter storm warning issued for summits of Hawaii's Big Island In "Climate unraveling" Snow in the forecast for Hawaii's upper elevations In "Earth Changes" Hawaii's weather takes 'unprecedented' turn towards the bizarre In "2012" This entry was posted in Climate unraveling, Earth Changes, Earth Watch, Extreme Weather Event.
One Response to Hawaii’s Mauna Kea summit blanketed with 3 inches of snow Normando Montfort says: June 9, 2011 at 12:18 am It is incredible for June almost summer. =) Reply Follow. Max Keiser: Financial Terrorists are "Raping Everybody...Revolt Now or Be a Debt Slave" (Video) The great global warming swindle - Full version USAGodG20 \ #France #US exchange rates G2O Building #economic #NWO o.
France, US call for flexible exchange rates at G20 9% Unemployment, $14 Trillion In Debt, & No Budget… It’s Bonus Time! | The Blaze. Let’s role play a little situation. (Try not to make the obvious comparisons to Congress.) Your company is hemorrhaging cash, falling deeper into debt than even your accountants can imagine.You choose to INCREASE spending, claiming “ya gotta spend money to make money.”You are also so busy arguing with middle management that you can’t find time to make a budget that might get you back on track.It appears that your job is about to be eliminated.There is only one thing left to do – give bonuses to as many employees as possible!
Here’s the assignment — explain your actions to shareholders. They are especially interested in hearing your thought process on the bonuses. If the exercise seems to be too far removed from reality and you might argue that it is a waste of time, think again. This is exactly what happened in Congress last year. Richard Simon of the Los Angeles Times reports: Representatives contacted for the story vigorously defended the payment of bonuses, some with curious logic.
Forum - Blog Archive » Do Farmers and Ranchers have a Place in Winning the Future? If you listen to those in the mainstream media, you would think that all of America’s resources should be devoted to urban centers. Even very serious people often question the relevance of lesser industrialized communities (LIC). It could make you wonder if they have ever spent any time talking with family farmers or ranchers. Unlike people who spend their time wondering if America still has what it takes to compete in the post-Globalization marketplace, farmers and ranchers know what it takes to win the future. Their businesses aren’t blessed with the potential for instant success. Rather than question the relevance of their existence, we at the ebTDesign Forum suggest that farmers and ranchers are the foundation of enduring success. The impact of hydrogen convergence will be greatest where it supports family farmers and ranchers.
Zachary Alexander. States Cut Money Sent To Cities, Counties. BRIC Nations Drive Auto Sales. In Europe, Rifts Widen Over Greece. Spain’s Icelandic Revolt; Protests Spread to Italy. A protest movement that started in Spain has now spread to Italy. The Spanish government has banned protests, but that has only encouraged more protests. I picked the story up two days ago in Protests Mount in Spain; Sovereign Debt Crisis to Follow Acting on a tip, the New York Times picked up the story a day later in Protesters Rally in Madrid Despite Ban.
Protest Images Here are a few protest images by Juan Luis Sanchez on Yfrog. Spain’s Icelandic revolt Protests in Iceland helped bring down the Icelandic government and stopped the bailouts of banks at the expense of Icelandic taxpayers. Please consider Spain’s Icelandic revolt After passively submitting to the crisis, young Spaniards have finally taken to the street. Protests have now spread to Italy and beyond. Protest Camps Green tents are current protest camps. My friend Bran who lives in Spain writes … ‘Revolution’ jumps from Spain to Italy Watch Italian and Spanish Government Bonds Most eyes remain focused on Greece. Comments comments. As Firms Rev Up, the Slack. China Becomes World's 2nd Largest Economy (Because It Owns American Debt) Resource Based Economy - The Game. Analysis: Good jobs, bad jobs, but not enough of either.
The United States Is In Deep Doodoo! Imagine for a moment that someone inherits a farm. Let's say that the farm has good topsoil, a good well, good breeding stock, good seed, and excellent farm equipment in good repair. Prior to passing into the control of the present owner the farm did a good business selling vegetables, meat, and dairy products to the local market, and it made a small profit. But let us suppose for a moment that the present owner of the farm doesn't understand farming, or isn't even really interested in learning.
The present owner has no objection to standing around looking good, so he stays at the farm, standing in front of it, looking good to passers by. Of course, the bills still come in, so our farmer puts them on his credit card. Well, the bills still come in. Now at this point, our farmer thinks everything is okay. Of course, you know better. Poor, dumb, stupid farmer. That farmer is our government, and our business leaders. By 1987, the only remaining American TV company was Zenith. "Mr. John F. U.S. Incomes Rise, Spending Slows. Paul Revere Radio - 25 signs US is in economic decline. A Skeptical Survivalist, Price increases of up to 7% on commodities such as toilet paper, diapers, baby wipes, garbage bags. Forum - Blog Archive » What will the lack of Hydrogen Convergence Jobs mean to AFL-CIO? At a time when union jobs are at a premium, why is the Obama Administration trying to destroy the hydrogen convergence movement in America?
Secretary Chu and the confounders at the Department of Energy (DOE) seemed reasonable in saying that commercialization of hydrogen fuel cell vehicles was too far in the future before Mercedes-Benz opened its Northern American Manufacturing Plant in Vancouver, Canada. We at the ebTDesign Forum would suggest that someone at the AFL-CIO take a look at the number of union jobs that America stands to lose. Obviously, there are those in the auto industry who will be displaced. But there are also those members who work in construction who would have been employed to retrofit existing gas stations and the electricians who could have modified homes for vehicle-to-grid (V2G) applications. Who benefits from delaying the creation of new hydrogen convergence jobs? So, who really benefits from any increase in the number of EVs on the road? Zachary Alexander. Forum - Blog Archive » Reengaging on the Dangers of Radical Oil Price Increases. Energy saving light bulbs 'contain cancer causing chemicals'
Feared Migration Hasn't Happened: UN Embarrassed by Forecast on Climate Refugees - SPIEGEL ONLINE - News - International. Home Resales Tick Up, but Prices Slip. Time To Sue GE? Mercury Laden CFL Light Bulbs Discovered To Emit Cancer-Causing Fumes. Last-Minute Deal Averts Shutdown. Legal disclaimers: Spare us the e-mail yada-yada. Unions Rally, Linking Their Cause to Dr. King. 1. Former George Soros Trader Victor Sperandeo Discusses in Detail the Potential for Hyperinflation.
US Declares Financial War On World.mp4. Markets Close Out a Good Week on a High Note. FinanceIsrael End of trade in Tel Aviv Stock Exchange for today, see: #Isra. TASE Site - Daily Review. Heard on the Street: China's Rebalancing Act. 2f.ly. Higher Grain Prices Start Pinching Consumers; USDA Expects Food Prices to Jump. » 21 Signs That The Once Great U.S. Economy Is Being Gutted Alex Jones.
» Engineered Economic Collapse Approaching Alex Jones. G-20 to Address Hot Money. What Are Social-Impact Bonds? George Carlin - Saving the Planet. An atlas of pollution: The world in carbon dioxide emissions | Environment. Tom Nelson. FlotillaGo RT @WRH_Mike_Rivero Salary triples for Goldman CEO Blankfein # Salary triples for Goldman CEO Blankfein | Raw Story. News of Interest -- Homeless People Freezing to Death, Tipis and more...
Brazil Joblessness Hits Record Low. 5 Signs the End is Near for the Criminal Banks. European Bank Debt Still Appeals to Funds. F.D.I.C. Says Hundreds of Small Lenders Remain at Risk. FinanceIsrael Need #Israeli #economic #laws & #regulations in English? We'll upload an econo. Elections: The midterms. Economics focus: Drowning or waiving. Crop Shocker Ripples Through Markets. Bernanke: Fed to take dramatic steps if economy deteriorates more than expected. Untitled. FDIC flashes SOS – 1,000 bank failures before recession is over – FDIC not too far away from tapping into U.S. Treasury $500 billion taxpayer lifeline. Georgia leads the pack with 40 bank failures since 2008. Economics & Politics.