Thursday, 4 March 2010

Is The Recovery Real?

By Paul Craig Roberts

A desperate government, which has wasted $3 trillion invading countries that pose no danger to the U.S. and wasted more trillions of dollars combatting a crisis brought on by the government’s failure to regulate the financial sector, is likely to steal people’s pensions as well as to gut Social Security and Medicare. Continue


Obama's Budget Revealed: 
Money for Wars and Weapons, While More Americans Face Joblessness and Hunger 

By Jo Comerford

The latest federal budget opens the American public to yet more pain, while shielding the military and the rest of the national security establishment from the same. Continue


Economists: Another Financial Crisis on the Way

By Matthew Jaffe

Even as many Americans still struggle to recover from the country's worst economic downturn since the Great Depression, another crisis -- one that will be even worse than the current one -- is looming, according to a new report from a group of leading economists, financiers, and former federal regulators. Continue

US debt-based money printing biggest theft in history': Iran's President Mahmoud Ahmadinejad asserts that the lingering global financial crisis has exposed the dark side of the capitalist economic system in the West, adding that the US will go down in history as the biggest-ever thief.

'Buy farmland and gold,' advises Dr Doom: The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash.

Unemployment Rate Falls in January? Despite the mixed numbers, a growing chorus of economists and labor market analysts say the unemployment picture in the United States is actually far worse. They argue that the Labor Department routinely undercounts the number of unemployed in this country

Mass Layoffs Increase in January: Employers laid-off 182,261 workers, seasonally adjusted, in 1,761 mass layoff events last month, the Labor Department said Tuesday. A mass layoff is when a single employer terminates at least 50 people.

Postal Service to shed another 30,000 jobs: The U.S. Postal Service said on Tuesday that it would reduce its workforce by another 30,000 positions and slash overtime this year in an effort to reduce costs.

15,000 S.F. workers face layoffs, shorter weeks: More than 15,000 San Francisco city workers across all departments will receive layoff notices Friday, and most of them will have the option of being rehired to work a shorter week, Mayor Gavin Newsom said Tuesday.

More consumers file for bankruptcy protection: The economic recovery effort has not slowed consumer bankruptcy filings. They surged 14% in February compared with a year earlier, according to the American Bankruptcy Institute.

Detroit homes sell for $1 amid mortgage and car industry crisis: One in five houses left empty as foreclosures mount and property prices drop by 80%