Economy
Obama to lay out new economic plan Wednesday
(CNN) — With less than two months to go until a critical midterm election likely to turn on the economy, President Obama this week will lay out a new plan that includes a proposal to extend a tax cut popular with the business community, according to an administration official. The official said the president will... »
Brawls at the Fed, as the System Comes Down
Whether or not you’re a fan of Lyndon Larouche, the news coming out of the Fed is not good. If you have a little extra cash, you might want to stock up on canned goods and water. It’s about to hit the fan. — PID (LAROUCHEPAC.COM) — A senior Washington intelligence source reported this morning... »
Yes Folks, Hindenburg Omen Tripped Again | WSJ
(WALL STREET JOURNAL) — The Hindenburg Omen reared its ugly head late last week, signaling more doom and gloom as stocks plod along amid the dog days of summer. The Omen, a technical indicator which uses a plethora of data to foreshadow a stock-market crash, was tripped again on Friday, marking the second time since... »
Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid Bill
(FOX NEWS | AP) — /SNIP/ House members convened Tuesday and passed the multibillion-dollar bailout bill for cash-strapped states that provides $10 billion to school districts to rehire laid-off teachers or ensure that more teachers won’t be let go before the new school year begins, keeping more than 160,000 teachers on the job, the... »
Commodity spike queers the pitch for Bernanke’s QE2
(THE TELEGRAPH) — In a normal recovery, the US labour market would be firing on all cylinders at this stage. Yet the latest household jobs survey showed a net loss of 35,000 jobs in May, 301,000 in June, 159,000 in July. The ratio of the working age population with jobs has fallen to 58.4,... »
Homesteads and Other Sources of Tax Income
If you’re looking for a new homestead, here’s your chance! — PID (NY TIMES) — Give away land to make money? It hardly sounds like a prudent scheme. But in a bit of déjà vu, that is exactly what this small Nebraska city aims to do. Beatrice was a starting point for the Homestead Act of 1862,... »
The Death of Paper Money
(THE TELEGRAPH) — Each big inflation — whether the early 1920s in Germany, or the Korean and Vietnam wars in the US — starts with a passive expansion of the quantity of money. People’s willingness to hold money can change suddenly for a “psychological and spontaneous reason” , causing a spike in the velocity of... »
Fed’s volte face sends the dollar tumbling
(THE TELEGRAPH) — Rarely before have a few coded words in the minutes of the US Federal Reserve caused such an upheaval in the global currency system, or such a sudden flight from the dollar. The euro rocketed to a two-month high of $1.29 and sterling jumped two cents to almost... »
Chinese rating agency strips Western nations of AAA status
(THE TELEGRAPH) — Dagong Global Credit Rating Co used its first foray into sovereign debt to paint a revolutionary picture of creditworthiness around the world, giving much greater weight to “wealth creating capacity” and foreign reserves than Fitch, Standard & Poor’s, or Moody’s. The US falls to AA, while Britain and France slither down to... »
Secret gold swap has spooked the market
(THE TELEGRAPH) –It takes a lot to spook the solid old gold market. But when it emerged last week that one or more banks had lent 380 tonnes of gold to the Bank of International Settlements in return for foreign currencies, there was widespread surprise and confusion. The news that a mystery bank has just... »
Bold plan to have single Eastern African Community currency by 2012
(KENYA DAILY NATION) – The East African Community member states are working on a single currency by 2012. But EAC minister Amason Kingi said Kenyan teachers have to wait until 2015 to be allowed to work in Tanzania. He said EAC countries were supposed to domesticate freedoms and rights in the common market by... »
The Progressives’ Legacy of Bankruptcy
(NATIONAL REVIEW ONLINE) — There is a growing sense in the minds of Americans that we, as a nation, are reenacting the dramatic climax of Thelma and Louise: The pedal’s to the metal, the car’s gaining speed, and we are about to plunge into the abyss. The abyss is not the Grand Canyon, of... »
Robert Prechter’s Market Forecast Says ‘Take Cover’
(THE NEW YORK TIMES) — WITH the stock market lurching again, plenty of investors are nervous, and some are downright bearish. Then there’s Robert Prechter, the market forecaster and social theorist, who is in another league entirely. If Robert Prechter is right, one market analyst said, “we’ve basically got to go to the mountains with... »
Influential Pastor Warns of Socialism, Departure from God
(Christianpost.com) — America currently stands in a very dangerous position, said renowned pastor and author Dr. Charles Stanley. Today more than ever, the country is turning away from God and moving closer toward socialism, he warned. And the consequences will be grave. via Influential Pastor Warns of Socialism, Departure from God | Christianpost.com. »
Countdown to 12/21/12:
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Is This Book Coming True?
A plague has been unleashed....After her father dies suddenly, Dr. Maggie Taylor, a prominent and respected genetics researcher and professor, receives a mysterious package with a message of universal doom. H5N1 influenza is ravaging swine herds throughout the Midwest, when a deadly, new human version suddenly appears in New Mexico.
Derek and Sharon hope to see you in Canton, Ohio in October!
