Bill O'Reilly Interviews Lou Dobbs About His Resignation from CNN

Thom Hartmann on Obama declining popularity

No longer a rock star? Obama's poll numbers fall.

For the first time since his election, fewer thann 50 percent of Americans support Barack Obama. The American economy continues to struggle, the U.S. military remains mired in Afghanistan and the battle over healthcare reform rages. Is Obama simply a victim of circumstance? Is there anything he can do to turn the situation around?

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barack obama obama popularity poll numbers afghanistan economy china thom hartmann dina gusovsky rt russia today

Steve Phillips - We don't want your swine flu vaccinations MUSIC

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Steve Phillips We don't want your swine flu vaccinations pandemic virus depopulation agenda illuminati bloodlines new world order baxter Ufologe2008 Swine Flu Song David Icke Armin Risi

David Icke -The Origins and Symbolism of the EU a Red Ice Creation Interview

Red Ice Creations discuss the Origins and the Symbolism of the European Union with David Icke. The EU is the reemergence of the (Holy) Roman Empire. We talk about the Catholic/Vatican influences in the EU and the Royals, especially the Hapsburgs, who are behind its inception. We talk about Religious Symbolism and the Babylonian/Sumerian Origins of those Symbols. Where is the EU heading with the Lisbon Treaty?

Build your own custom video playlist at embedr.com

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David Icke Göteborg Schweden Origins Symbolism EU Roman Empire Catholic Vatican Royals Religious Babylonian Sumerian Ancient World Occult Satanic Luziferian Agenda Illuminati New Order Lissabon Conspiracy Israel Zionism Rothschild Antisemetic Ufologe2008

Dr. JOSEPH MOSHE GETS SILENCED TRYING TO EXPOSE BIO WEAPON!!

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Joseph Moshe Baxter whistle blower H1N1 Ukraine bio weapon

Moshe was dramatically arrested and detained by the FBI last week having earlier called Dr True Ott's radio show claiming that Baxter was incorporating a bioweapon in its vaccine.Joseph Moshe - BioMedical Scientist

Moshe was dramatically arrested and detained by the FBI last week having earlier called Dr True Ott's radio show claiming that Baxter was incorporating a bioweapon in its vaccine.

There are fears that H1N1 has now mutated and resembles the Spanish flu virus that killed more than 50 million people at the beginning of the 20th century. Ukrainian doctors say the victims lungs are as black as charcoal. This prompts fresh concern that the swine flu virus has taken a deadly new form.
Category: News & Politics
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Swine flu Ukraine plague Ukraine chemtrails Ukraine mystery H1N1 virus swine flu profit Man-made virus pharmaceutical companies Ukraine Spanish flu deadly virus RT Igor Ogorodnev WHO World Health Organisation

More than 100 new militia group have formed across the country since the election of president Obama

Michigan Militia Numbers continue to grow amongst Fear of Obama's Gun Ownership Right Legislation

Michigan Militia Groups Say Numbers Continue To Grow amongst fear of Obama Gun ownership Legislation :

A new report from CNN followed the Southeast Michigan Volunteer Militia -- based just outside of Flint

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news, MI, Michigan, cbs, WNEM, Careers & Occupation, Local News, Military, News

Harper goes Bollywood to sell Canada in India

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stephen harper canada bollywood india show appearance

David Icke Latest Interview Nature of Reality Reptilians 2012

To be blunt - if you're a really close minded individual and your best friend is the television - it is best you exit this video immediately. David Icke discusses the true nature of reality and consciousness, reptilian shapeshifters, how to empower ourselves against the tyrannical system and global elite, and his perspective on 2012.

Build your own custom video playlist at embedr.com

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barack obama economic collapse financial crisis federal reserve bank audit the fed stocks wall street bilderberg group trilateral commission council foreign relations cfr illuminati nwo new world order alex jones david icke club of rome secret societies police state orwell 1984 cops military peter schiff gerald celente max keiser skull and bones george bush freemasons bohemian grove reptilians greys pleiadians reptoids anunnaki 2012 aliens ufo nibiru project blue beam NASA haarp

The Economic Cost of War in Afghanistan and Iraq Iraq and Obama no Exit Strategy . Journalist David Axe

Journalist David Axe : No real strategy for Afghanistan

More and more Americans have concerns about the war in Afghanistan, especially at a time when the costs of war are rising and President Obama seems reluctant to make a decision about troop levels. Is there a viable strategy for winning the war in Afghanistan? Journalist David Axe, who has done in-depth reporting from Afghanistan, talks to Priya Sridhar about the challenges the country poses.

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afghanistan taliban counter-insurgency matthew hoh david axe war is boring priya sridhar rt russia today

Rush Limbaugh Sarah Palin Book One Of The Most Substantive Policy Books I've Read

Rush Limbaugh Calls Sarah Palin's Book "One Of The Most Substantive Policy Books I've Read"

Rush Limbaugh Calls Sarah Palin's Book "One Of The Most Substantive Policy Books I've Read" - 11/14/09

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Libertarian Liberal liberties republican Democrat elections Rush Limbaugh Calls Sarah Palin Book One Of The Most Substantive Policy Books I've Read 11/14/09

Mexican Drug Cartels outsmart the US Border Patrols

Mexican Drug Smugglers Are Endlessly Creative at Border

Smugglers have demonstrated unbounded creativity when it comes to sneaking drugs across the Mexican border. And the U.S. government acknowledges there is only so much it can do to stop the flow.

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Border Drug Wars, Crime, Drugs, Emergencies & Disasters, News

Raw Video: Officer Tasers Man in Handcuffs

Lansing police officials say an officer whose tasering of a handcuffed man was caught on dashboard video has been suspended for two weeks without pay for violating department policy. (Nov. 13)

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officer tasers raw video officer tasers handcuffs

Raw footage of weapons depot inferno in Russia

Arsenal Inferno: Massive arms stock blast in Russia

Russia's Ministry of Defence says at least two military firefighters are dead after a series of blasts at a weapons storage facility in central Russia. Officials say 43 people have been rescued from a bomb shelter at the site near Ulyanovsk (Ульяновск), as emergency crews battled the flames.

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Russia Ulyanovsk blast weapon depot blast arsenal explosion weapons stock blast shocking inferno Россия Ульяновск взрыв арсенал взрыв склад боеприпасов Russia Ulyanovsk blast weapon depot blast arsenal explosion weapons stock blast shocking inferno Россия Ульяновск взрыв арсенал взрыв склад боеприпасов пожар

Chuck Norris and Sean Hannity Ron Paul is a NUT !!!!!!!

The Conservatives Sean Hannity and Chuck Norris call libertarian and ex presidential candidate Dr Ron Paul NUTTS !!!!

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ron paul hannity campaign for liberty propaganda new world order neocons daily ron paul alex jones nwo new world order jow biden barack obama john mccain campaign for liberty we are change 9/11 truth dl d.l. hughley cnn fox news inside job illuminati irs federal reserve gold standard iraq economic collapse 2012 economy north korea medical marijuana peter schiff rachel maddow police state trooper policeman policemen paramedic ambulance choked beating beat brutality cops cop rand amazing atheist

Hannity and Chuck Norris that Ron Paul is nuts !!!!

The Conservatives Sean Hannity and Chuck Norris call libertarian and ex presidential candidate Dr Ron Paul NUTTS !!!!

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ron paul hannity campaign for liberty propaganda new world order neocons daily ron paul alex jones nwo new world order jow biden barack obama john mccain campaign for liberty we are change 9/11 truth dl d.l. hughley cnn fox news inside job illuminati irs federal reserve gold standard iraq economic collapse 2012 economy north korea medical marijuana peter schiff rachel maddow police state trooper policeman policemen paramedic ambulance choked beating beat brutality cops cop rand amazing atheist

New CNN Skull And Bones Piece

Airing Fate Nov.12, 2009

New CNN Skull And Bones Piece


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skull and bones george bush prescott new world order neocon john kerry iraq iran federal reserve bin ladin 911

Glenn Beck Interviews Pete Hoestra

Part 1 of 2 :



Part 2of 2 :





Tags : Bernanke, Paulson, Credit Crisis, Subprime El Erian, Roubini, Recession, Crunch, Charlie Rose Marc Faber, Bailout, Economy, Stocks Peter Schiff, Glenn Beck, Depression Crash, Obama, Election Bill Seidman James Grant, Subprime, Mortgage Ron Paul, Bailouts, Foreclosures, Housing, Negative Equity David Walker, Fiscal, Stiglitz, International Asia Nargolwala Paulsen, Fed, Baltics Emerging Markets Banks & FDIC Smithers Ted Spread, Libor, Barry Ritholz, Fusion IQ, Chrysler, LTCM Commentary Analysis Jim Cramer Bear Buffett Dollar, China, International, Commercial Real Estate, Construction Depression, Deflation, Currencies, Euro, Yen, Bonner, Agora, Megan McArdle Froehlich Boockvar Bell Minyanville Gold Hyperinflation Todd Harrison US, UK, Mortgage, News Meltdown, Rescue, Rates, Central Banks, Stocks, Alan American Authers Capitalism Debt European Excellent Financial Freeze Greenspan John Slump. Street Vulture Wall Foreclosure, O'Neill, Interest Galbraith Stimulus Hungary, Eastern Europe,

Daniel Estulin on G20 Finance Ministers Meeting insider intelligence and smuggled documents

Daniel Estulin on G20 Finance Ministers Meeting (insider intelligence and smuggled documents ) 11 Nov 2009

Daniel Estulin talks exclusively to The Corbett Report about his latest work infiltrating and exposing the G20 Finance Ministers meeting in St. Andrew's, Scotland. He reveals that the next major agenda issue for the financial elite is the solidification of the African Union and the erasure of national borders. Documents from the conference were smuggled out and have been posted on BilderbergBook.com. Please download and spread these documents widely

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g20 daniel estulin finance ministers dollar economy african union population reduction mp3 corbett report interview bilderberg 2009

Keith Olbermann s Worst Person Lou Dobbs Leaving CNN 11/11/09

Keith Olbermann's "Worst Person" - Lou Dobbs [Leaving CNN]

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Keith Olbermann Worst Person Lou Dobbs Quit CNN 11/11/09

Chuck Norris One World Government in Copenhagen Summit

Chuck Norris-One-World Government-On the Copenhagen Summit

chuck norris lord monckton Global Warming bruce lee nwo new world order ron paul barack obama peter schiff judge napolitano Freedom Watch Max Keiser Gerald Celente Jim Rogers wall st street Federal Reserve alex jones dollar goldman sachs Tim Geithner glenn beck henry paulson 9/11 inside job msnbc jp morgan chase tarp
Category: News & Politics
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chuck norris lord monckton Global Warming bruce lee nwo new world order ron paul barack obama peter schiff judge napolitano Freedom Watch Max Keiser Gerald Celente Jim Rogers wall st street Federal Reserve alex jones dollar goldman sachs Tim Geithner glenn beck henry paulson 9/11 inside job msnbc jp morgan chase tarp

Drunk woman falls on tracks, escapes train death by inches

They say "God Loves a Drunk" and this time around a woman in the U.S. was incredibly lucky when she fell onto the rails in Boston's subway. The woman was apparently trying to stub out a cigarette when she lost balance and tumbled onto the tracks right in front of the train. Frantic commuters started waving and shouting and luckily managed to attract the drivers attention. Frightened but unhurt - the lady was then helped out from the tracks.

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Drunk woman intoxicated underground subway woman Boston subway escape miracle close to death death under train gosh must watch

Taliban fighters display US weapons - 10 Nov 09

Al Jazeera has obtained exclusive footage showing the Taliban in Afghanistan displaying what appears to be US weapons.

The fighters say they seized the arms cache from two US outposts in eastern Nuristan province.

Days after the alleged assault, the US military pulled out its troops from the area.

Al Jazerera's Jonah Hull reports.

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AlJazeera Al Jazeera Afghanistan Taliban Weapons USA Army

Dr Rauni Kilde : H1N1 VACCINES ARE DANGEROUS

Dr Rauni Kilde discusses the Swine Flu Conspiracy and Eugenics

Dr Rauni Kilde : H1N1 VACCINES ARE DANGEROUS!
Uploaded by Auzarmes. - News videos hot off the press.

Tags:H1N1 Pandemy virus swine flu genocide RUMSFELD KISSINGER BILDERBERG WHO NWO

Dr Rauni Kilde : H1N1 VACCINES ARE DANGEROUS!

Dr Rauni Kilde : H1N1 VACCINES ARE DANGEROUS!

Dr Rauni Kilde discusses the Swine Flu Conspiracy and Eugenics

Dr Rauni Kilde : H1N1 VACCINES ARE DANGEROUS!
Uploaded by Auzarmes. - News videos hot off the press.

Tags:H1N1 Pandemy virus swine flu genocide RUMSFELD KISSINGER BILDERBERG WHO NWO

Michelle Malkin on Fort Hood Shooting Fox News Nov 09 2009

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Glenn Beck Clips Michelle Malkin- Muslim Soldiers Consider Selves Muslims daniel hannan uk parliament europe european union global warming climate change agreement treaty kyoto copenhagen ron paul peter schiff jim rogers gerald celente marc faber alex jones

CNBC Dollar Will be Utterly Destroyed, Global Currency, New World Order NWO

Friday, 6 Nov 2009 - The dollar will get "utterly destroyed" and become "virtually worthless", said Damon Vickers, chief investment officer of Nine Points Capital Partners. Due to the huge wage disparities between the United States and emerging markets like China, Vickers said that may resolve itself in some type of a global currency crisis.

"If the global currency crisis unfolds, then inevitably you get an alignment of a global world government. A new global currency and a new world order, so we may be moving towards that," he said.

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New World Order Global Currency Government CNBC Asia Squawk Box Damon Vickers Dollar Will be Utterly Destroyed Strategist General News Story com

The Secret to Money Dr. Vitale on Fox News

Dr. Vitale's secrets to cashing-in

tags : american bernanke bush ci false federal fema flag gas military new north oil opec order reserve street union wall world bankers currency fiat finance gold international money silver stocks Economics Free Freedom Hayek Lew Liberty Ludwig Market Mises Paul Rockwell Ron von analysis boom bubble bust course crash elliott estate housing invest mortgage real subprime technical trend wave banking changers Griffin Jekyll system aaron alex central Creature edward fraud from irs Island jones russo The 11110 collapse dollar Executive falling james JFK rollye bakers cnn fox nwo rockefeller tyrannyofsouls tyrranyofsouls obama Business Government Issues Law Legal News NYSE:FNM NYSE:FRE Personal Politics Bloomberg, FNM, Business, Government, Bailout, Rescue commentary economy Peter Schiff Election Lindsey Recession Williams 2007 away crisis failure fiscal slips Fannie Mae, Freddie Mac, Mortgage, Housing, Recesison, Credit Crunch, Foreclosures Schmuck Barack McCain Bosnia Iran Lehman Bros AIG grassroots outreach paulson Political Europe 1792 act coinage counterfeiting john treason Roubini, Stocks, 401K Deflation, Inflation 1913 abolish brothers debt depression devaluation documentary gotcha greenspan interest meltdown monetary policy rates scam Abolishment Austrian Baldwin Ben Biden Campaign Chuck Congress Constitution Cynthia George Joe Libertarian McKinney Nader Police Prices Ralph Terrorism vipers thieves black stress tests cody willard truthfn financial workers donald trump revolution Banks Ponzi Spitzer Investment Smithers Forclosure

Wall Street Gangsters (Geithner, Paulson, Summers)

"If the American people ever allow private banks
to control the issue of their money,
first by inflation and then by deflation,
the banks and corporations that will
grow up around them (around the banks),
will deprive the people of their property
until their children will wake up homeless
on the continent their fathers conquered."

Thomas Jefferson
Category: Education

Tags: gerald celente Fall republic wall deception obama street gangsters webster tarpley alex jones peter schiff rockefeller jp morgan goldman sachs lazaard federal reserve gold silver cftc fraud robbery hyperinflation fractional bubble paper loan ponzi goldtothemoon report revolution crisis food ROTHSCHILD WILL BURN IN HELL

Will California become America's first failed state?

Los Angeles, 2009: California may be the eighth largest economy in the world, but its state staff are being paid in IOUs, unemployment is at its highest in 70 years, and teachers are on hunger strike. So what has gone so catastrophically wrong?
California has a special place in the American psyche. It is the Golden State: a playground of the rich and famous with perfect weather. It symbolises a lifestyle of sunshine, swimming pools and the Hollywood dream factory.

But the state that was once held up as the epitome of the boundless opportunities of America has collapsed. From its politics to its economy to its environment and way of life, California is like a patient on life support. At the start of summer the state government was so deeply in debt that it began to issue IOUs instead of wages. Its unemployment rate has soared to more than 12%, the highest figure in 70 years. Desperate to pay off a crippling budget deficit, California is slashing spending in education and healthcare, laying off vast numbers of workers and forcing others to take unpaid leave. In a state made up of sprawling suburbs the collapse of the housing bubble has impoverished millions and kicked tens of thousands of families out of their homes. Its political system is locked in paralysis and the two-term rule of former movie star Arnold Schwarzenegger is seen as a disaster – his approval ratings having sunk to levels that would make George W Bush blush. The crisis is so deep that Professor Kenneth Starr, who has written an acclaimed history of the state, recently declared: "California is on the verge of becoming the first failed state in America."
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Jobs Report Highlights Shaky U.S. Recovery

By PETER S. GOODMAN
Published: October 2, 2009
After several months in which the American economy flashed tentative signs of improvement, a sobering report on the national job market released on Friday amplified worries that a lengthy period of lean times lay ahead.
The economy shed 263,000 jobs in September, and the unemployment rate edged up to 9.8 percent from 9.7 percent in August, according to the Labor Department’s monthly snapshot of the employment picture.

Though the job market worsened, the pace of deterioration remained markedly slower than during the early months of the year, when roughly 700,000 jobs a month were disappearing. That improvement seems consistent with the widespread belief that the recession has given way to economic growth. Yet the report also buttressed fears that economic expansion would be weak and hesitant, with scarce paychecks and economic anxiety remaining prominent features of American life well into next year.
Full article :

The Recovery That Isn’t by Peter Schiff on Lew Rockwell

The Recovery That Isn’t

Peter Schiff
Lew Rockwell
October 3, 2009

	Those who do cling to the absurd belief that, absent exponential productivity gains, the economy can expand while workers are being laid off will undergo a massive test of their convictions now that it’s clear the employment picture is bleak.

For those market boosters who are prattling on about the possibility of a “jobless recovery,” I offer an invitation to join me for a breakfast of “fat-free bacon,” “eggless omelets,” and “no-carb bread.” As unappetizing as such a meal may sound, it would nevertheless offer more substance than the oxymoronic concept of an economic resurgence without job creation.

Those who do cling to the absurd belief that, absent exponential productivity gains, the economy can expand while workers are being laid off will undergo a massive test of their convictions now that it’s clear the employment picture is bleak. Today’s weaker-than-expected report on non-farm payrolls revealed that employers shed 263,000 jobs in September. The losses propelled the headline unemployment rate to a 26-year high of 9.8%. U6, the Bureau of Labor Statistics’ most complete measure of unemployment, has risen to a dismal 17%. This figure includes those people who want to work full time, but have simply given up looking, or who have accepted part-time work in the interim. As it is similar to the methodology used during the Great Depression, U6 offers better historical perspective on the severity of our current crisis.

Taken together with yesterday’s larger-than-expected pickup in unemployment claims (first time claims rose by 17,000 to 551,000), today’s report makes it certain that the job market is still contracting, even while some indicators like GDP and consumer confidence are moving in the opposite direction.

There is no question that the sense of panic has temporarily subsided. In recent interviews, Treasury Secretary Geithner has been almost giddy in his descriptions of the recovery – all the while crediting his own policies for averting disaster. Americans are once again taking the government’s bait by spending money they don’t have to buy things they can’t afford. Evidence of this trend was contained in data released earlier this week which showed that even while income growth was largely stagnant, U.S. consumers showed the biggest month-over-month increase in personal spending in ten years! With the same report showing a 25% drop in the savings rate, the source of the spending money is clear. But depleting savings and increasing borrowing does not a recovery make.

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Tent city dwellers face eviction

US 'tent city' dwellers face eviction

High unemployment rates have forced many people in the US to move out of their homes. Some people have set up makeshift homes, using tents as a last resort.

One such community in Rhode Island is being run like a small town, with a committee that votes on how the camp is run. But now the state is trying to evict them.

Cath Turner reports.
Category: News & Politics
Tags:
tent city us recession eviction foreclosure economy crisis financial aljazeera cath turner

Saudi fraud case highlights Gulf banking flaws - 22 July 09

Two of Saudi Arabia's wealthiest families are battling each other in a New York court over claims that one side stole $10bn from the other.

The fraud case has highlighted the lack of transparency in doing business in the Gulf, where banks are blamed for lending money to wealthy families almost solely on reputation.

Hashem Ahelbarra looks at the fallout for businesses in the region.
Category: News & Politics
Tags:
saudi arabia gulf financial fraud aljazeera

jim roger

US state budgets hit by shrinking tax take

By Nicole Bullock in New York

Published: July 20 2009 20:39 | Last updated: July 20 2009 20:39

Sharply falling tax revenues across the US have left states facing fresh budget shortfalls and threatening further painful spending and service cuts following previous multiple rounds of belt-tightening.

In the first quarter of the calendar year, tax collections dropped by 11.7 per cent, the largest fall on record, according to the Rockefeller Institute of Government. Of 50 states, some 45 reported declines.

Early figures for April and May show an overall decline of nearly 20 per cent for total taxes, “a further dramatic worsening of fiscal conditions nationwide”, says the institute.

Billions of dollars of federal stimulus funds, combined with cuts to state employee jobs, school districts, healthcare and even the US prison system, have so far failed to close the budget gaps.

“The states are constantly trying to recalibrate their budgets to deal with a shrinking revenue base,” said Susan Urahn, managing director of state policy initiative at the Pew Center on the States.

Read entire article :

Economist: Expect Inverted Recovery

Julie Crawshaw
Moneynews
July 14, 2009
Economist Ed Yardeni predicted we will have an inverted head-and-shoulders recovery, and said the first shoulder has already happened.

Yardeni said the first shoulder of the formation came on Nov. 20, 2008, when the Standard and Poor’s 500 index fell to the year’s low of 752.44.

The index then rallied to 934.70 on Jan. 6, before tanking to an intraday low of 666 on March 6. Then it rebounded to this year’s high of 946.21 on June 12

“If it holds that level over the rest of the summer, then the resulting head-and-shoulders formation could set the base for the next leg up for stocks,” Yardeni told The Daily Press.

However, Yardeni said that his optimistic technical picture won’t be realized unless the fundamentals cooperate, in the form of an upturn in earnings.

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More than $2 Trillion are China's Reserves of US Dollars

China’s Foreign Exchange Reserves Surge, Exceeding $2 Trillion

July 15 (Bloomberg) -- China’s foreign-exchange reserves, the world’s biggest, topped $2 trillion for the first time as the nation’s economic recovery prompted overseas investors to pump money into stocks and property.



The reserves rose a record $178 billion in the second quarter to $2.132 trillion, the People’s Bank of China said today on its Web site. That dwarfs a $7.7 billion gain in the previous three months.



The Shanghai Composite Index, the world’s second-best performer, surged 75 percent this year as Premier Wen Jiabao’s stimulus package triggered unprecedented lending and surging investment. The increase in the reserves means China may buy more U.S. Treasuries as the Obama administration expands debt sales to fund a plan to revive growth.



“Hot money is flowing back,” said Sherman Chan, an economist with Moody’s Economy.com in Sydney. “China has the strongest prospects out of all major economies.”



M2, the broadest measure of money supply, rose a record 28.5 percent in June from a year earlier, the central bank said.



The yuan traded at 6.8316 against the dollar as of 4:47 p.m. in Shanghai, from 6.8329 yesterday.



The central bank has used bill sales to push up money- market rates for three weeks, seeking to tighten monetary policy without choking off a recovery as the surge in money supply increases the risk of asset bubbles, bad loans and resurgent inflation. China’s reserves are double those of Japan, the country with the second-biggest foreign currency holdings.



‘Great Challenges’



“The pace of foreign-exchange inflows will accelerate in coming months as China’s recovery attracts investors, and that will pose great challenges for monetary policy,” said Lu Zhengwei, an economist at Industrial Bank Co. in Shanghai.

Read entire article :

The Economy Is Even Worse Than You Think

By MORTIMER ZUCKERMAN



The recent unemployment numbers have undermined confidence that we might be nearing the bottom of the recession. What we can see on the surface is disconcerting enough, but the inside numbers are just as bad.



The Bureau of Labor Statistics preliminary estimate for job losses for June is 467,000, which means 7.2 million people have lost their jobs since the start of the recession. The cumulative job losses over the last six months have been greater than for any other half year period since World War II, including the military demobilization after the war. The job losses are also now equal to the net job gains over the previous nine years, making this the only recession since the Great Depression to wipe out all job growth from the previous expansion.



Here are 10 reasons we are in even more trouble than the 9.5% unemployment rate indicates:

[Commentary] David Klein



- June's total assumed 185,000 people at work who probably were not. The government could not identify them; it made an assumption about trends. But many of the mythical jobs are in industries that have absolutely no job creation, e.g., finance. When the official numbers are adjusted over the next several months, June will look worse.



- More companies are asking employees to take unpaid leave. These people don't count on the unemployment roll.

Read Full Story :

U.S. Budget Gap Exceeds $1 Trillion for Fiscal Year

By Vincent Del Giudice

July 13 (Bloomberg) -- The U.S. budget deficit topped $1 trillion for the first nine months of the fiscal year and broke a monthly record for June as the recession subtracted from revenue and the government spent to rejuvenate the economy.

The shortfall for the fiscal year that began Oct. 1 totaled $1.1 trillion, the first time that the gap for the period surpassed $1 trillion, Treasury figures showed today in Washington. The excess of spending over revenue for June was $94.3 billion, the first deficit for that month since 1991, according to data compiled by Bloomberg.

Individual and corporate tax receipts are sliding even as the worst recession in five decades shows signs of easing because the jobless rate continues to rise -- reaching a 26-year high in June -- and companies have yet to see a sustained increase in demand. The shortfall is also widening as the government ramps up spending from the $787 billion stimulus program President Barack Obama signed into law in February.

“This is a difficult pill to have to swallow,” said Richard Yamarone, director of economic research at Argus Research Corp. in New York. “The economy and banking system need these funds to recover, yet it will ultimately hit Americans’ wallets hard. It’s a necessary evil.”

Treasuries Drop

Treasuries fell to their lows of the day after the figures, with yields on benchmark 10-year notes rising to 3.35 percent at 3:29 p.m. in New York from 3.30 percent late yesterday.

Economists surveyed by Bloomberg News forecast a June deficit of $97 billion, according to the median of 30 estimates. Projections ranged from deficits of $109.3 billion to $70 billion.

The June deficit compares with a surplus of $33.5 billion in the same month a year earlier. Spending last month surged 37 percent to $309.7 billion and revenue fell 17 percent to $215.4 billion, the Treasury said.

The Congressional Budget Office estimates the federal budget shortfall for the first nine months of the fiscal year was also $1.1 trillion, while saying the budget deficit for June was $97 billion. For the fiscal year that ends Sept. 30, the Office of Management and Budget forecasts the deficit to reach a record $1.841 trillion, more than four times the previous fiscal year’s $459 billion shortfall.

For the fiscal year to date, the interest expense on the government’s outstanding debt was $320.7 billion, according to Treasury data released July 7. Total public debt outstanding exceeds $11.5 trillion, according to the Treasury’s July 9 statement on the government’s cash balance.

Tax Receipts

Corporate tax receipts totaled $101.9 billion through June versus $236.5 billion, a decline of 57 percent, the Treasury’s budget statement said today. Individual income tax collections were down 22 percent so far this fiscal year to $685.5 billion compared with $877.8 billion in the year-earlier period.

Read Full Story :

Nervous China may attack India by 2012 Expert

Times Of India
Sunday, July 12, 2009

A leading defense expert has projected that China will attack India by 2012 to divert the attention of its own people from “unprecedented” internal dissent, growing unemployment and financial problems that are threatening the hold of Communists in that country.

“China will launch an attack on India before 2012. There are multiple reasons for a desperate Beijing to teach India the final lesson, thereby ensuring Chinese supremacy in Asia in this century,” Bharat Verma, Editor of the Indian Defense Review, has said.

Verma said the recession has “shut the Chinese exports shop”, creating an “unprecedented internal social unrest” which in turn, was severely threatening the grip of the Communists over the society.

Among other reasons for this assessment were rising unemployment, flight of capital worth billions of dollars, depletion of its foreign exchange reserves and growing internal dissent, Verma said in an editorial in the forthcoming issue of the premier defence journal. In addition to this, “The growing irrelevance of Pakistan, their right hand that operates against India on their behest, is increasing the Chinese nervousness,” he said, adding that US President Barak Obama’s Af-Pak policy was primarily Pak-Af policy that has “intelligently set the thief to catch the thief”.

Verma said Beijing was “already rattled, with its proxy Pakistan now literally embroiled in a civil war, losing its sheen against India.” “Above all, it is worried over the growing alliance of India with the US and the West, because the alliance has the potential to create a technologically superior counterpoise.

Full story here.

Did nano-thermite take down the WTC?

Could the most audacious terrorist attack in history be a “sophisticated masterpiece of demolition”?
Niels Harrit and 8 other scientists found nano-thermite in the dust from the World Trade Center.

For better results with customized versions of this video and translations, you can find the original Highbandwidth mp4 files with/without burned-in text, and the subtitle-textfile at:
http://agenda911.dk/harrit/tv2gomorgen/

A site in danish is encouraging people to stand forward demanding a new investigation here:
http://www.i11time.dk/

The full report from the scientists can be found here.

TAGS :Controlled Demolition, MUST SEE, Mainstream Media, Nano-Thermite, Nanotechnology, Niels H. Harrit, Peer Reviewed Scientific Journal, Red/Grey Chips, Research, Scholars for 9-11 Truth and Justice, Scientific Method, Super Thermite, Thermite, Twin Towers, V for Visibility, VIDEO, WTC7, Wake Up America, World Trade Center Destruction

China attacks dollar’s dominance

China attacks dollar’s dominance By George Parker and Guy Dinmore in L’Aquila, Krishna Guha in Washington and Justine Lau in Hong Kong

Published: July 9 2009 19:03 | Last updated: July 9 2009 19:03

China has launched its highest-profile criticism of the dominant role of the US dollar as a global reserve currency at a meeting of the world’s biggest economies.

Dai Bingguo, Chinese state councilor, raised the issue on Thursday when he joined the leaders of four other emerging economies for talks with the leaders of the Group of Eight industrialised nations – including US President Barack Obama – in the earthquake-damaged Italian town of L’Aquila.
The remarks, in front of Mr Obama, caused concern among western leaders, some of whom fear that even discussion of long-term currency issues could unsettle markets and undercut economic recovery.

Gordon Brown, Britain’s prime minister, said he did not remember Mr Dai making the remarks. But he said the focus should be on moving the world out of recession.

“We don’t want to give the impression that big change is around the corner and the present arrangements will be destabilized,” said Mr Brown.

”We should have a better system for reserve currency issuance and regulation, so that we can maintain relative stability of major reserve currencies exchange rates and promote a diversified and rational international reserve currency system,” said Mr Dai, according to the Chinese foreign ministry.

While he did not name the dollar, Mr Dai was unequivocal in calling for the world to diversify the reserve currency system and aim at relatively stable exchange rates among leading currencies.
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L.A. commercial real estate owners struggling, report says

A research firm finds that 263 properties valued at $4.5 billion are in default, foreclosure or bankruptcy. That figure is 133% higher than in January.
By W.J. Hennigan
July 9, 2009
Los Angeles commercial real estate continues to spiral downward, according to a report released Wednesday by Real Capital Analytics Inc.

The New York-based real estate research firm found that Los Angeles had $4.5 billion in troujavascript:void(0)bled commercial properties at the end of June.
In all, 263 properties are in default, foreclosure or bankruptcy, the firm reported. At the beginning of the year there were 113, a 133% increase.

Don Walker, senior vice president of Irvine-based John Burns Real Estate Consulting, said the large numbers weren't very surprising.

He points to the skyrocketing unemployment rate, which now stands at 11.5%, and consumers' current tendency to rein in discretionary spending, as contributing factors to the downturn in the market.

Walker said the worst may be yet to come, because commercial real estate numbers traditionally lag behind residential. "We might be in the early stages of decline," he said. "I don't expect a turnaround until consumers regain confidence and the jobless numbers stop mounting."

But things could be worse, said Dan Fasulo, RCA managing director of research. Compared with the national picture, Los Angeles is faring well.

"Los Angeles has held up better than its peers," Fasulo said. "For example, you couldn't give away a commercial property in the Midwest right now."

Nationally, RCA found 5,315 troubled commercial properties valued at more than $108 billion.

The report lists hotels and retail properties as the most "problematic sectors" and goes on to note the bankruptcy filings by mall owner General Growth Properties Inc. and hotel chain Extended Stay America Inc. The report said the lack of available credit is causing properties to fall into default across the country and among every investor type.

"Excess leverage is endemic to every type of investor, all of which are facing difficulties refinancing mortgages as they come due," the study said.

The figures released Wednesday are preliminary, the report said.

william.hennigan@

latimes.com

While Talking About Keynesian Stimulus, Feds Are Really Just Giving Money to the Big Boys

As noted previously, China experts say that the Chinese government has been blowing a huge bubble (and see this).

But the government is apparently going to switch off the bubble-blowing machine.

China expert Michael Pettis writes:

Today bank stocks were down, on rumors that the very high and clearly unsustainable loan growth rates would soon come to an end.

And the BBC writes:

It comes as the government looks to tighten its monetary policy to prevent the risk of asset bubbles, loan defaults and rapid inflation.

Meanwhile, the Chinese city of Hangzhou has started tightening mortgage lending terms, ahead of any changes to monetary and credit policies by the national government.

The signs that China may ditch its loose monetary policy dragged down bank stocks in Hong Kong and Shanghai on Wednesday.

Google OS by 2010 , Microsoft is worried

Can Google break Windows?

Google challenges Microsoft's last bastion as it announces its new operating system to take on Microsoft Windows. The OS War has just started !!!!

Fighting the New World Order: Information Revolution 2009(new clips with dates

The information revolution has begun! This is a set of new clips from 2009 exposing the new world order, Barack Obama, and the fraudulent Federal Reserve system. Watch as great American patriots like Alex Jones, Judge Andrew Napolitano, Jeremy Scahill, Jesse Ventura, Dennis Kucinich, Gerald Celente, Peter Schiff and Ron Paul speak truth to power. The information you will see in these clips is still pushed as a minority opinion by the corporate controlled media. You be the judge.

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Glut of $4.5 Trillion Will Haunt Obama’s Dollar: William Pesek

July 6 (Bloomberg) -- It’s not a job Barack Obama signed up for, but it’s his nonetheless: Bond salesman-in-chief.

Such is the lot of a U.S. president overseeing an historic increase in debt issuance. Cartoonists are busily churning out depictions of Obama, who partly nationalized automakers, standing on a car lot hawking Detroit’s clunkers. It’s time to begin picturing Obama shilling bonds few may soon want.

His best customers? Asians, of course. Asia already holds about $4.5 trillion of currency reserves, most of them denominated in U.S. dollars. It’s a product of Asia’s “savings glut,” of which the cash-strapped U.S. remains a major beneficiary. That is, if Asians don’t pull the plug.

The trouble is that the U.S. seems to be taking Asia’s money for granted. That’s a grave mistake for a White House that needs to offload record amounts of debt to fund a $787 billion stimulus package -- not to mention spending plans yet to be announced. Assuming Asia’s perpetual devotion is a mistake.

It’s no coincidence that China is pushing for a new international currency at a time when it wants to diversify its almost $2 trillion of reserves. Such mutterings from Venezuela are one thing. They’re quite another coming from the biggest foreign holder of Treasuries, with about $764 billion.

“It would be important for the U.S. not to take its position for granted,” World Bank President Robert Zoellick said last week. “My guess is what you will see over time, just as the euro has developed over time, you may have some other currencies develop as an alternative.”

Prime Time

Not that the yuan is ready for prime time. Besides, say analysts like Marc Chandler of Brown Brothers Harriman & Co. in New York, China’s desire for the yuan to become a global invoicing currency doesn’t outweigh its need to maintain control and help exporters. Ultimately, China’s ambitions are hemmed in by the realities of a currency that still isn’t convertible.

China speaks out of both sides of its mouth on the issue. One day, a top official says China wants an alternative to the dollar. The next, someone like Vice Foreign Minister He Yafei tells reporters that “we hope that as the main reserve currency the U.S. dollar will be stable” and that he’s “not aware” of China pushing to put the subject on the agenda of the Group of Eight’s agenda this week.

The other BRICs nations -- the acronym refers to Brazil, Russia, India and China -- all have made noises about the dollar’s stability. Some more than others, of course, yet their concerns have been well reported.

Replacing the Dollar

Replacing the dollar as a long-term goal is fine. Doing it while the global financial system the dollar anchors is in tatters is ill-advised. Not surprisingly, folks in Washington are worried about a sudden move against the currency.

It hardly seems a coincidence that while Managing Director Dominique Strauss-Kahn has called China’s yuan “substantially undervalued,” the International Monetary Fund has toned down criticism over the disconnect from economic fundamentals. The softer rhetoric removes a sticking point between China and the IMF, as Asia’s second-largest economy seeks a larger role at the lender and the fund tries to increase China’s contributions.

Could the quid pro quo be that China avoid pulling the rug out from under the dollar? It’s possible. Still, Obama and Treasury Secretary Timothy Geithner shouldn’t assume Asia’s continued support. Not with the Federal Reserve holding interest rates near zero and untold waves of fresh debt flowing into uncertain markets. Rumblings about the U.S. losing its triple AAA credit rating have further raised the stakes.

Blame All Around

Granted, Asia deserves some of the blame here. Over the past decade, the region was the site of a currency-reserve arms race. While the clear winner in this game of monetary one- upmanship is China, economies like Taiwan and South Korea are holding more dollars than they would like.

It’s become the world’s biggest Ponzi scheme, really. The dollar isn’t crashing because those invested in it are propping it up and adding to their holdings. After all, the magnitude of Asia’s foreign-exchange holdings means it can’t dump the dollar without shooting its economies in the foot.

Asia should indeed be plotting how to reduce its dollar holdings. Those trillions of dollars would be better used in Asia to pay for better roads, bridges, airports and power grids and improved education and health care.

Until then, the U.S. needs to reassure Asians they won’t suffer massive losses on their dollar holdings. It can start by circulating a credible exit strategy from today’s massive stimulus efforts.

The White House also needs to convince Asia that devaluing the dollar at some point to boost U.S. exports isn’t on the table. Obama and Geithner should plan to increase financial diplomacy efforts, traveling to Asia often.

Asia has a $4.5 trillion dollar decision to make, and it’s up to the U.S. to help the region make the right one. Taking Asia’s money for granted would be a disastrous way to go.

(William Pesek is a Bloomberg News columnist. The opinions expressed are his own.)

To contact the writer of this column: William Pesek in Tokyo at wpesek@bloomberg.net

US lurching towards ‘debt explosion’ with long-term interest rates on course to double

Philip Aldrick
London Telegraph
Monday, July 6, 2009

The US economy is lurching towards crisis with long-term interest rates on course to double, crippling the country’s ability to pay its debts and potentially plunging it into another recession, according to a study by the US’s own central bank.

In a 2003 paper, Thomas Laubach, the US Federal Reserve’s senior economist, calculated the impact on long-term interest rates of rising fiscal deficits and soaring national debt. Applying his assumptions to the recent spike in the US fiscal deficit and national debt, long-term interests rates will double from their current 3.5pc.

The impact would be devastating by making it punitively expensive to finance national borrowings and leading to what Tim Congdon, founder of Lombard Street Research, called a “debt explosion”. Mr Laubach’s study has implications for the UK, too, as public debt is soaring. A US crisis would have implications for the rest of the world, in any case.

Using historical examples for his paper, New Evidence on the Interest Rate Effects of Budget Deficits and Debt, Mr Laubach came to the conclusion that “a percentage point increase in the projected deficit-to-GDP ratio raises the 10-year bond rate expected to prevail five years into the future by 20 to 40 basis points, a typical estimate is about 25 basis points”.

The US deficit has blown out from 3pc to 13.5pc in the past year but long-term rates are largely unchanged. Assuming Mr Laubach’s “typical estimate”, long-term rates have to climb 2.5 percentage points.

Full story here.

America’s Effective Unemployment Rate at 18.7%?

Steve Clemons
The Washington Note
July 2, 2009
Each month, I receive from Leo Hindery an update on “America’s effective unemployment rate” which includes not only the official unemployment figures but other data points showing off-the-books unemployed or underemployed people.

The numbers are staggering and are aggregates of official data. They matter because various Obama administration officials including the President himself started off calling for huge stimulus packages to help generate “jobs, jobs, jobs!”

But now, I have been hearing more and more from senior Obama economic team members about the jobs they hoped for coming at the very tail end of an economic recovery. Others are talking about a GDP recovery — but not a jobs recovery. They are admitting as well that they underestimated the severity of this recession and its impact on unemployment levels.

And all this while Goldman Sachs and other financial houses have seen their balance sheets get cleaned up and bonuses surge.

Hindery writes:

Here is a June 2009 version of the summary that calculates the Effective Unemployment Rate, which is now 18.70%, and the Effective Number of Unemployed, which is now 30,172,000.

There are currently 14,729,000 officially unemployed workers, as just announced. However, this figure does not include the combined 15,443,000 workers either (1) in the “labor force reserve” because they have abandoned their job searches (i.e., 4,278,000) or (2) underemployed because they are “part-time of necessity” (i.e., 8,989,000) or “otherwise marginally attached” (i.e., 2,176,000).

The effective unemployment rate is therefore 18.70%, instead of the official 9.51%.

Since the start of the recession in December 2007, the number of workers who are officially unemployed has increased by 7,188,000, while almost twice as many workers - 13,290,000 - have become effectively unemployed. And all the while, we should have been creating around 2,250,000 new jobs (i.e., 18 months times 125,000 jobs per month) just to keep up with population growth.

In June, the number of workers officially unemployed increased 218,000, while the number of workers effectively unemployed actually decreased 35,000.

It’s important to see the entire picture of America’s jobs profile — no matter how unpleasant.

I recognize that credit bubble related recoveries are hard to work out and are usually quite slow — with job growth at the back end. This all makes sense — but with Christina Romer out raising expectations again with giddy talk predicting a V-shaped recovery and given the “jobs, jobs, jobs” mantra of President Obama himself — the gap between the job figures expected and the disappointing economic realities generated may be politically consequential.

Seven More Banks Fail

George Ure’s Urban Survival
July 3, 2009

Oh, the joys of not having to get up with the first ring of the alarm clock! But then, as I laid in bed this morning wondering what to write about, it came to me in a flash: There have been numerous alarming signs and portents in the markets this week, if one knows where to look.

—

The FDIC announced seven bank failures after the market closed Thursday, which brings the number of banks closed this year to 52. But, if you count the number of branch offices closed this week it’s 30 branches.

Founders Bank

Millennium State Bank of Texas

First National Bank of Danville

Elizabeth State Bank

Rock River Bank

First State Bank of Winchester

John Warner Bank

But what’s even more alarming is that if you look back over the last year of “We’re not in a Depression” bank numbers, you’ll see that the number of banks closed is nominally up to 75, but if you count up branches, the banking system has shuffled ownership of 2,969 branches.

That FDIC seems to be doing a smooth job of it - making depositors whole in each case (so far), one can’t help but wonder what’s the cost of all this to be in the longer term, especially since the real guts of the second leg down in financial markets isn’t expected till this fall.

When will FDIC have to go looking to recharge its coffers?

Meantime, at least the bad news was released after the markets were closed and has an extra day to contemplate what this all means. Answer to that should be apparent to anyone with half a brain (Depression 2.0 may be real and George may not be so crazy after all…).

If you divide the total offices closed (2,969) by 51 weeks (since July 11, 2008 is the IndyMac failure - 51 weeks back) closings have been averaging 58.21 offices per week, although admitted the data is skewed a bit by the WAMU and Downey Savings failures. Still, the count is the count.

—

Another one of the alarming stories this week to give ’cause to pause’ was the NY Fed Funds Rate which, if you look at the June 30th data, had someone paying 7% for overnight funds. The aberration, first caught on Karl Denninger’s “Market Ticker” site admittedly does leave one asking plenty of questions (Like: Who’d pay 7% for overnight money in this environment if they didn’t have a death-like financial mess to paper over quickly?), one can only pray that it was just someone needing quick cash for the end of Q2. The worst fear is that this is all a set up for the next collapse of the derivatives bubble which will be easily apparent as the Dow goes toward new lows in September, which is what I fear. Not to mention the possible banking and market holidays which could accompany that.

Make a note to self: Finish spreading money around to ’safe’ places. A bit more in the Treasury TIPS paper, a bit less in the Big National Bank - going instead to a couple of local banks which have weathered at least one Depression previously.

—

A third area where alarming developments are taking place is well-described under the headline “Financial lobby gears up for effort against Obama plan.” While it’s true that the Obama administration is trying to build a credible “Consumer Financial Protection Agency”, it’s more than equally true that the banksters are going to roll out all the big guns and pull out the stops since if this one goes through. it could have a Kondratieff cycle-long impact on the bankster coup - which means it could actually save America from financial interest/bankster domination for another 50-years. Why, who’d want to be shackled with interest rate caps and such when desperation of common folks can be turned into optimized yields on past-due accounts?

You won’t read much about this fight in the MainStreamMedia, however, since the banksters have brought most of the corpgov/ MSM media to heel by simple manipulation ad budgets: “Ya’ll either toe the line, or mother banker will slash advertising on your radio/tv/newspaper chain to zip and then where will you be? Need to roll over a credit line to keep your LBO roll-up together? Lay off on the coverage of interest rate caps, then…” Or some variant of this. never ’spoken”, but that’s how the complex system works when you step back from it a ways.

Ah, the joys of having the best ‘democratic republic’ money can buy.

Related? “Washington Post cancels lobbyist event amid uproar.” You tell me. I’ve filed it under “Cookie jars and fingers.”

—

But there’s another point of alarm, right there. Groups like “www.firecongress.org” are popping up and they make it pretty clear that the world “revolution” which I’ve mentioned prominently ove rthe past year or so are starting to filter into the active area of language.

By the way, don’t forget to check out their poster - which you can print off on a good quality color printer and pass around:

Ballots beat bullets any old time.

—

Along about here, you may be figuring out that the reason the market dropped 223 points in Thursday’s trading is that it’s occurred to more people than just yours truly that there is not much stimulating going on from the over-hyped and over-sold ’stimulus’ bill.

Well, duh.

Nassim Taleb - who wrote the famous book on statistical outlier events The Black Swan: The Impact of the Highly Improbable is being quoted by CNBC this morning as saying “The financial system is crashing and action must be taken by the US government to convert debt into equity to produce a more stable environment…”

Nice thought, that. But, in case you haven’t noticed, at the current ‘burn rate’ the only possible outcome for the economy is to have runaway inflation, which is fine from the standpoint of the powers-that-be, since the people who were marginally ready to lose their homes, are in many cases already in default and the homes owned by the bankster class, so when prices start to go wild, they ought to sell like hotcakes and new and much higher rates since the public will be retrained into the borrow and refi industries, which will be retooled to maximize profits once again.

Graceful, ain’t it?

Source Infowars.com