Who Will Rescue Us? A Banana Republic By 2012? Is A Major War A Possibility In 2009? UK: The 1.3 trillion pound bank job: The furore over Sir Fred Goodwin's massive pension worked as an effective smokescreen for far worse financial news that the Government was happy to keep out of the public eye. David Randall and Margareta Pagano report U.S. readies another $30B as AIG debt problems mount: Insurance giant American International Group (AIG) on Sunday moved toward another restructuring of its massive debt, marking a further widening of the historic federal bailout of financial markets. Mortgage Delinquencies Jump 50 Percent: More U.S. consumers are filing for personal bankruptcy or relying on credit cards as the recession deepens and unemployment rises, a top credit bureau executive told Reuters Buffett: Economy will remain in 'shambles': Profit fell 96 percent, the fifth straight quarterly decline, and Berkshire's net worth tumbled $10.9 billion in the year's final three months. 16 US banks collapse in just two months: With the financial meltdown continuing unabated, US has already seen the collapse of 16 banks in the last two months -- which is more Pension bombs going off: Exploding pension fund shortfalls are blowing billion-dollar holes in the balance sheets of some of the Chicago area's biggest companies, forcing them to make huge contributions to retirement plans at a time when cash flow and credit are already under stress. Right-Wing 'Tea Party' Movement Was Planned Months Ago by GOP Billionaires: Bloggers reveal how the latest so-called "populist" revolt against the federal government was a pre-planned PR stunt.
No One Seems To Know Or Be Willing To Say How Bad Things Are
By Danny Schechter
Does anyone even know how bad the economy is, or how much worse it will get? Continue
Change for the Worse
By Paul Craig Roberts
President Obama has presented the most irresponsible budget in US history. His fiscal year 2010 budget projects federal spending of $3.5 trillion and a federal deficit of $1.75 trillion. In other words, 50 percent of the government’s budget consists of red ink. Continue
The Historical Antecedents
By Dr. Frederic F. Clairmont
The goal of US imperialism, conflated with that of Israel , is the destruction of Iran , the ally of both Hamas and Hezbollah. This is not speculation. It is stated policy. Continue
than one-fourth the total number of failures in the last nine years.
Monday, 2 March 2009
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