Fed launches new $200B consumer credit program
The government launched a much-awaited program Tuesday to spur lending for autos, education, credit cards and other consumer loans by providing up to $200 billion in financing to investors to buy up the debt.
Geithner Says U.S. Financial Rescue ‘Might Cost More’
Treasury Secretary Timothy Geithner said the U.S. bank rescue program may cost more than the $700 billion Congress approved, and he pledged to crack down on companies and individuals who try to avoid paying taxes.
U.S. February auto sales plunge as recession deepens
U.S. auto sales dropped by more than 41 percent in February to the lowest level in almost three decades as deepening economic uncertainty drove Americans away from big purchases and new debt despite aggressive discounts from major automakers.
As the Dow keeps dropping, the President is running out of people to blame
As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem. If you want to blame someone, blame the corrupt two party system! We need politicians that truly believe in the constitution, the rule of law, and a small, limited federal government. That means about 99.8% of all politicians in Washington need to be removed from office.
One of the four states that is not insolvent is an unlikely candidate for the distinction – North Dakota. As Michigan management consultant Charles Fleetham observed last month in an article distributed to his local media:
“North Dakota is a sparsely populated state of less than 700,000, known for cold weather, isolated farmers and a hit movie – Fargo. Yet, for some reason it defies the real estate cliché of location, location, location. Since 2000, the state’s GNP has grown 56%, personal income has grown 43%, and wages have grown 34%. This year the state has a budget surplus of $1.2 billion!”
Montana Has It Right On Second Amendment
"The Obama administration will seek to reinstate the assault weapons ban that expired in 2004 during the Bush administration, Attorney General Eric Holder said today.
Ex-Serb intelligence chief worked for CIA - report
A former Serbian spy chief who served under president Slobodan Milosevic and is now being tried for war crimes worked for the US Central Intelligence Agency, AFP reports citing the Los Angeles Times on Monday.
Medvedev denies Obama offered 'grand deal' on Iran
The presidents of the United States and Russia continued their careful diplomatic dance Tuesday on the issue of joint action regarding the Iranian nuclear program.
Scientists make HIV strain that can infect monkeys
Scientists have created a strain of the human AIDS virus able to infect and multiply in monkeys in a step toward testing future vaccines in monkeys before trying them in people, according to a new study.
Toyota in talks for Japan government loan
Toyota's financing unit is in talks with a Japanese government-backed bank on possible lending, the automaker said Tuesday, underlining the serious woes facing the car industry amid plunging global sales.
France calls for NATO Afghan pullout
There are currently more than 68,000 foreign troops in Afghanistan.
French Defense Minister Herve Morin has requested that NATO set a timetable for the withdrawal of alliance forces from Afghanistan.
The government is in debt to private banks that pretend to have money
When loans are repaid, the principal amount of the money created is zeroed out. As Brown explains: “In order to keep money in the system, some major player has to incur substantial debt that never gets paid back; and this role is played by our federal government.” And Brown further notes: “The U.S. federal debt has not been paid off since the days of Andrew Jackson. Only the interest gets paid, while the principal portion continues to grow.” Calls to eliminate the Federal debt logically would need to be accompanied by a change in how money is created, or, rather, who creates the money.
THE BANKERS MANIFESTO
Congressman Charles A. Lindbergh, Sr. revealed the Bankers Manifesto of 1892 to the U.S. Congress somewhere between 1907 and 1917.
Bernanke Says U.S. May Need to Expand Bank Rescue
Federal Reserve Chairman Ben S. Bernanke said policy makers may need to expand aid to the banking system beyond the $700 billion already approved and take other aggressive measures even at the cost of soaring fiscal deficits.
Bush-era memos saw rights limits in U.S. terror war
The U.S. military could have kicked in doors to raid a suspected terrorist cell in the United States without a warrant under a Bush-era legal memo the Justice Department made public on Monday.
Mass. Gov. proposes global warming parking tax
In the same month that Logan International Airport hiked its parking rates by $1, Governor Deval Patrick is asking for another $2 parking “carbon fee” as part of his transportation overhaul filed this week.
Is Spending the Answer?
By Ron Paul
This week, Congress and the administration once again showed their lack of economic understanding, as they ramped up spending to record levels.
Empty Containers Clog South Korea’s Busan Port as Trade Slumps
South Korea’s biggest port is running out of room to store shipping containers, said Park Jung Ho, an official at one of Busan’s nine operators. The bigger concern is that the boxes are almost all empty.
Morgellons: Terrifying New Disease Reaching Pandemic Status
It sounds like something from a bad sci-fi movie. People report the sensation of creatures crawling under their skin, mysterious moving fibers appear, and finally bugs and worms pop out.
$50 million suit filed over BART shooting death
Family members of Oscar Grant, the unarmed BART rider shot to death by a transit agency police officer early New Year's Day, filed a federal civil rights lawsuit Monday that seeks $50 million from the agency, its chief of police and three officers.
Mothers of Victims of Tiananmen Square Massacre Call for Discussion
On the eve of the annual session of both the National People's Congress(NPC) and the Chinese People's Political Consultative Conference (CPPCC), parents of victims of the Tiananmen Square Massacre are calling for a discussion about the massacre.
Obama Must Fire Geithner and Summers
I've previously pointed out that the head of Obama's council of economic advisors - Larry Summers - is the worst possible guy for the job.
Israel draws 'red lines' for Obama on Iran
Israel prepares a set of red lines for Washington to inject into its Iran policy as the current US approach toward Tehran rankles Tel Aviv.
Ukraine Teeters as Citizens Blame Banks and Government
Steel and chemical factories, once the muscle of Ukraine’s economy, are dismissing thousands of workers. Cities have had days without heat or water because they cannot pay their bills, and Kiev’s subway service is being threatened. Lines are sprouting at banks, the currency is wilting and even a government default seems possible.
THE SECRET GOVERNMENT
A small number of extremely wealthy people, descendants of wealthy families in Europe and the U.S, own a major part of the material wealth of the world. This power is concentrated in London which is the centre of the world banking system. The control they exercise is kept within the original families and passed down from generation to generation. They are highly organised, operating in secret through a web of 'private' organisations.
AIG Price Tag: $1,400 per Taxpayer Family
How much will each American family pay, on average, to bail out beleaguered insurance giant American International Group? Try more than $1,400.
Obama 'ready to drop shield plans for Russian help on Iran'
Washington has told Moscow that Russian help in resolving Iran's nuclear program would make its missile shield plans for Europe unnecessary, a Russian daily said on Monday, citing White House sources.
The nation's big grocery chains contend that food manufacturers have raised prices too fast and too far, considering large drops in prices for fuel, corn, wheat and other important commodities in recent months.
Trade representative nominee Ron Kirk agrees to pay back taxes
Ron Kirk, the nominee for U.S. trade representative, has agreed to pay about $10,000 in back taxes, becoming the latest top-level appointee in the Obama administration to face the embarrassment of dealing with an income tax problem.
Global Food Crisis Called 'Ticking Time Bomb'
Although prices for cereal grains have dropped since their spike last spring, the crisis has not gone away, according to Rajul Pandya-Lorch, chief of staff at the International Food Policy Research Institute and the head of the institute's initiative, Vision 2020 for Food.
The Creature From Jekyll Island: A Second Look at the Federal Reserve (Audio Format)
G. Edward Griffin is a writer and documentary film producer with many successful titles to his credit. Listed in Who’s Who in America, he is well known because of his talent for researching difficult topics and presenting them in clear terms that all can understand.
New 'Iron Curtain' will split EU's rich and poor
Eastern European countries gave an apocalyptic warning yesterday of hordes of unemployed workers heading west as a new Iron Curtain divides rich from poor inside Europe.
Major economies eye boost to gold reserves
Major emerging economies are seeking to raise their central banks' gold reserve holdings as fears of a sharp depreciation in the U.S. dollar mount, senior industry officials said on Monday.
CIA destroyed nearly 100 interrogation videotapes
The CIA destroyed nearly 100 videotapes of interrogations and other U.S. treatment of terror suspects, far more than previously acknowledged, the Obama administration said Monday as it began disclosing details of post-Sept. 11 Bush-era actions.
EU upholds Austria, Hungary right to ban GM crops
Austria and Hungary reaffirmed their sovereign right on Monday to ban growing genetically modified maize after EU environment ministers squashed more attempts by the European Commission to lift the restrictions.
Obama DOJ Defies Federal Judge
Late on Friday, the Justice Department’s lawyers filed a brief with a federal district court in California challenging the court’s power to carry out its own order. The government lawyers insisted that the court has no right to make available to the opposing lawyers in the case a classified document regarding the Bush administration’s warrantless wiretapping program, even though the document is critical to the lawsuit, the lawyers can obtain the necessary top-secret security clearances, and the document would not be released publicly.
Media companies may challenge extract linking
Unnamed media companies may start taking to court blogs and sites that quote extracts and links, according to a report by the New York Times.
Flu viruses growing resistant to key weapon Tamiflu
Evidence that flu viruses are becoming more resistant to the drug Tamiflu has sown deep concern among doctors who are worried that their best flu treatment is losing its punch.
Cost of locking up Americans too high - Pew study
One in every 31 U.S. adults is in the corrections system, which includes jail, prison, probation and supervision, more than double the rate of a quarter century ago, according to a report released on Monday by the Pew Center on the States.
INTERPOL issues denial of reported Iranian request seeking arrest of 15 senior Israeli officials
While INTERPOL does not ordinarily comment on false stories reported in the media, in light of the nature of recent erroneous articles reporting that INTERPOL is being used by Iranian authorities to seek the arrest of 15 senior Israeli officials on alleged charges of war crimes in Gaza, the Organization is taking the unusual step of making the following public statement:
“INTERPOL has neither been requested to issue by Iran, nor has it issued on behalf of Iran or any of its 187 member countries any Red Notices for persons wanted internationally or other requests seeking the arrest of senior Israeli officials for alleged war crimes in relation to the Gaza offensive in December and January.”
Dow industrials fall below 7,000; lowest since '97
The Dow Jones industrial average has fallen below 7,000 Monday for the first time in more than 11 years as investors grow even more pessimistic about the health of banks, and in turn the economy.
MI5 ALERT ON BANK RIOTS
TOP secret contingency plans have been drawn up to counter the threat posed by a “summer of discontent” in Britain.
The “double-whammy” of the worst economic crisis in living memory and a motley crew of political extremists determined to stir up civil disorder has led to the extraordinary step of the Army being put on standby.
EXCLUSIVE: Sen. Hatch's secret drug firm links
The pharmaceutical industry that long has benefited from Sen. Orrin G. Hatch´s legislative efforts has directed large sums of money to a charity he helped found - and still raises money for - while also hiring the Republican lawmaker's son as a lobbyist.
Tax green propaganda?
The Washington Post again editorialized today in favor of taxing us by the mile driven instead of by the gallon of gas purchased.
Beginning Now: The Panic Phase of the Collapse
By Martin D. Weiss, Ph.D.
The panic phase is an acceleration in the economic decline … a chain reaction of debt explosions … a free-fall in the financial markets … and a series of rude awakenings that will accelerate the decline even further.
Another Bright Shining Lie
By Michael Gaddy
The state has many weapons in its arsenal to keep Boobus ignorant of their illegal, unconstitutional activities and in compliance with its confiscatory tax and slavery system. In all likelihood, the two most often used of these weapons are fear and prevarication.
Majority of Government Actions are Unconstitutional
By Andrew C. Wallace
My purpose is not to agitate a civil war, that may already have started, but to prevent one at all costs, except for our freedoms. Americans were betrayed by a majority in congress of both parties for money and power. Our jobs, benefits, prosperity, and freedom are gone, or disappearing rapidly because government officials and judges openly violate our constitution.
U.S. takes another crack at AIG rescue
Wracked by turmoil in the credit markets, insurance giant posts $62 billion quarterly loss. Government amends bailout to insulate financial system.
“Homeland Security USA” shows how to travel without ID
The new “reality” television show Homeland Security USA has prompted a Facebook group calling for it to be taken off the air, and protests against its bigotry outside the ABC-TV / Walt Disney Corp. offices in Burbank, even while ratings and viewership have been falling steadily since the first episode.
Black Hole Alert: AIG to Get as Much as $30 Billion More
Let's see, the credit default swaps market, due to some netting, is now somewhere north of $30 trillion (as opposed to its earlier "north of $60 trillion" level). Investment banks were believed to have hedged most of their exposure via offsetting contracts, but AIG wrote naked protection. And as jAIG itself is at risk of getting downgraded again, the collateral posting requirements keep rising.
Citi may need more capital despite government move: Deutsche
Citigroup Inc (C.N) may need to raise additional capital despite the U.S. government's move to bolster its capital base, said an analyst at Deutsche Bank, who sees a 2009 loss of about $4.5 billion for the company excluding any preferred share dividend payments.
AIG enters record books with $61.7 billion loss
American International Group Inc posted a $61.7 billion fourth-quarter loss the biggest quarterly loss in corporate history after reaching a revised rescue deal with the U.S. government that wards off for now the prospect of crippling credit rating downgrades.
Banks earn $900m with state-backed debt
The world’s biggest banks have earned more than $900m in fees in less than four months by selling government-guaranteed bank debt to investors.
Right.org: Bailout Prize Patrol
Taxpayers Clearing House Prize Patrol delivers large checks to Citibank and Amtrak, gets them signed by Sen. Snow, Sen. Schumer, confronts Tim Geithner with wads of cash and delivers invoices to taxpayers.
Worst job losses in 60 years expected
The recession tightened its grip on U.S. businesses and consumers in February, according to economists, who are predicting the largest one-month job loss in almost 60 years.
Prison sentence for taking photos in UK
A new law in the UK makes it an offence to take pictures of policemen or any other law enforcement officers. Civil libertarians say Gordon Brown's Britain is becoming like George Orwell's Big Brother state.
Revealed: Scientific evidence for the 2001 anthrax attacks
KEY forensic evidence in the US anthrax attacks of 2001 has been revealed. The FBI had previously prevented the scientists involved from speaking publicly about their findings in case this interfered with court proceedings, but last August, after chief suspect Bruce Ivins committed suicide, the case collapsed and the FBI lifted many of the restrictions. This week, some of the scientists involved revealed their results at a scientific meeting in Baltimore, Maryland.
A voice in the wilderness no more
At CPAC, Ron Paul's critique of the monetary system and the Republican party is surprisingly more popular than ever
NATO can't defeat Afghan insurgency, PM says
The United States must come up with a viable Afghan exit strategy before asking Canada to rethink its plan to pull out of the country in 2011, Prime Minister Stephen Harper says.
Interpol issues arrest warrants for 15 Israelis
The International Criminal Police Organization (ICPO) has issued a circular calling for the arrest of 15 top Israeli officials over war crimes.
Israel Threatens 'Uncompromising' Retaliation Against Gaza Militants
Prime Minister Ehud Olmert threatened a painful response to Palestinian rocket fire menacing southern Israel, suggesting Sunday that the blistering offensive against Gaza Strip militants fell short of its goals.
Iran "not close" to nuclear weapon: Gates
Iran is not close to having a nuclear weapon, which gives the United States and others time to try to persuade Tehran to abandon its suspected atomic arms program, U.S. Defense Secretary Robert Gates said on Sunday.
Bloggers Can't Fill the Gap Left by Shrinking Press Corps
Packs of lobbyists fill two rooms outside the House and Senate chambers in Richmond every afternoon, watching the proceedings on big video screens, zapping legislators with e-mails the instant the lobbyists sense that one of their bills might be in trouble. The interest groups that hire lobbyists can rest easy; they've got the legislature covered.
Down the hall, the people's representatives have a hangout of their own, the press room. But there, nearly half the desks are empty. Reporters have been called home, reassigned, bought out, laid off. Only one TV station in Virginia still has a reporter at the capital. Many newspapers have decided to cover the capital by phone, if at all.
How Radio Wrecks the Right
Limbaugh and company certainly entertain. But a steady diet of ideological comfort food is no substitute for hearty intellectual fare. Romney wins CPAC straw poll
In one of the opening skirmishes in the long – and almost certainly bloody – GOP battle for the 2012 nomination, former Massachusetts governor Mitt Romney won the annual Conservative Political Action Convention straw poll Saturday.
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 on Thursday.
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.
Mugabe wants Zimbabwe's white farmers out
Zimbabwean President Robert Mugabe said Saturday that land seizures would continue, and he called for the country's last white farmers to leave.
UN attacks Britain over torture claims
Britain may have broken international law on torture, ministers have been warned by the United Nations. Professor Manfred Nowak, the UN's special rapporteur on torture, has alerted ministers to a range of concerns, including claims that MI5 officers were complicit in the maltreatment of suspects.
Obama's Chief Vetter Has His Own Tax Problem
White House general counsel Gregory Craig has seized control of Obama's vetting process after a series of nominees with unpaid taxes. But his wife's business may also have avoided taxes. Who vets the vetter?
Rand's Atlas Shrugged Sales Skyrocket
Sales of Ayn Rand’s Atlas Shrugged have almost tripled over the first seven weeks of this year compared with sales for the same period in 2008. This continues a strong trend after bookstore sales reached an all-time annual high in 2008 of about 200,000 copies sold.
“Americans are flocking to buy and read Atlas Shrugged because there are uncanny similarities between the plot-line of the book and the events of our day” said Yaron Brook, Executive Director at the Ayn Rand Center for Individual Rights. “Americans are rightfully concerned about the economic crisis and government’s increasing intervention and attempts to control the economy. Ayn Rand understood and identified the deeper causes of the crisis we’re facing, and she offered, in ‘Atlas Shrugged,’ a principled and practical solution consistent with American values."
Second Amendment Under Fire: Gun Ownership in the Obama Era
And there is something truly alarming about a president who will risk the lives of police officers and informants and remove the teeth of our Republic in a career-long pursuit to gut a key element of the Constitution as if it threatens his long-term political agenda.
John Bolton at CPAC: The Benefits of Nuking Chicago
Former UN Ambassador John Bolton believes the security of the United States is at dire risk under the Obama administration. And before a gathering of conservatives in Washington on Thursday morning, he suggested, as something of a joke, that President Barack Obama might learn a needed lesson if Chicago were destroyed by a nuclear bomb.
California Jobless Rate Jumps To 10.1 Percent
California's unemployment rate jumped to 10.1 percent in January, the state's first double-digit jobless reading in a quarter-century.
Expert predicts Eurozone collapse
Hayman Advisors LP, famous for its mortgage crisis prediction, now is warning of the imminent collapse of the European monetary union.
