How the Masters of the Universe Ran Amok and Cost us the Earth Bank of America, Merrill Bailout Disguised as Buyout? US Economy: Rudderless and Reeling From Direct Hits Fed Funds Spread Signals Crash Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act In Case You Missed It Federal Corruption and Meaningless Elections
By Bill Jamieson
SLAM. Slam. Slam. Slam. Like a scene from a gathering of Mafia dons, the doors of 30 black Lincolns slammed shut as their besuited occupants stepped out into a Manhattan downpour – and into a global financial storm.
That storm broke yesterday, with stock markets tumbling around the world. In London, the FTSE 100 plunged almost 4 per cent to 5204.2. - In the US, the Dow Jones industrial average suffered its biggest fall since 9/11. Continue
By: Mike Stathis
It appears as if we are witnessing government bailouts using taxpayer money that are being deceitfully disguised as buyouts. Not just with the Merrill buyout but also this newly established $70 billion emergency bank fund, set aside to help out banks with future problems. Where do you think this money is coming from? Continue
A raid on private pensions?
By Paul Craig Roberts
Most Americans, including the presidential candidates and the media, are unaware that the US government today, now at this minute, is unable to finance its day to operations and must rely on foreigners to purchase its bonds. The government pays the interest to foreigners by selling more bonds, and when the bonds come due, the government redeems the bonds by selling new bonds. The day the foreigners do not buy is the day the American people and their government are brought to reality. Continue
By iTulip Administrator
The Fed tries to manage the economy and inflation by influencing short term interest rates. It does that by buying and selling government bonds in the bond market in what are called "open market operations." They set a target rate, such as 2%, then buy or sell bonds as needed until the effective rate in the bond market matches the target rate objective. Problem is, this process does not always work in times of crisis because the bond markets themselves may be dis-functional, as is the case today. Continue
By Aaron Task
Americans are justified to be worried, says Nouriel Roubini, of NYU's Stern School and RGE Monitor, who notes there is already a "slow-motion run on retail banks" occurring nationwide.Continue
The Pentagon Strangles Our Economy:
Why the U.S. Has Gone Broke
By Chalmers Johnson
The neoconservatives in the White House and the Pentagon outsmarted themselves. They failed even to address the problem of how to finance their schemes of imperialist wars and global domination. Continue
By Timothy V. Gatto
The United States is much like the Titanic, listing to one side and ready to take the long dive to the bottom. We have a 9.5 Trillion Dollar deficit that is being held by foreign countries. The biggest part of our economy, home ownership that makes up approximately half of the assets of our country in mortgages sold to trust funds, retirement plans and government bonds and other investment vehicles is quickly going “bottom up”. Continue
Wednesday, 17 September 2008
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