Rock Trueblood's Watchworld

Amazing! One of the biggest Macro-Economic doomsayers, Gerald Celente, uses gold futures and then when he bets correctly, he takes delivery on the physcial gold. Well, his recent most bet on December futures blew up in his face. He went to take delivery of the gold owed to him last Monday, but a funny thing happened: his money in his account is gone. And where did his money in his futures account disappear to? Why the banksters at MF Global.

Here, he tells viewers what the MF in MF Global means. Boy is he pi$$ed!

2011-11-17T06:01:00.003-05:00

Mark to fantasy model of real estate accounting. California property assessments down only 4 percent from peak but home values are down by 37 percent. FHA default rates surge - Dr. Housing Bubble Blog

Europe Stocks Extend Drop on Spain Bond Sale

Charles Hugh Smith: Why Isn't Anyone Talking About Writing Off 3 Trillion Euros of Bad Debt?

A Look at the Troubling Trend in French Bond Yields

Keith Olbermann: We Owe Our Freedom and Independence To Morons Such As Mayor Michael Bloomberg of NYC

2011-11-16T17:58:00.005-05:00

"For the entirety of the life of our nation, our Democracy has been protected, not merely by the strenuous efforts of those of us who cherish it, but mostly, and most profoundly by the limitless stupidity of those who would ration it and keep it for themselves and themselves alone or destroy it . . ." is how Keith Olbermann begins last night's rant against those who spit in the face of American Democracy.

Keith explains how the moronic 1% mayor of New York City has re-invigorated the Occupy Wall Street movement by being a heavy handed thug who is against democracy.

Keith sets up his piece by showing video from our nation's past when men such as Governor James Rhodes of Ohio called protesters at Kent State un-American the day before four of the un-armed youth were shot down in cold blood. As Keith points out, it was 20 months before Kent State that Mayor Richard Daley of Chicago over-reacted to demonstrators at the 1964 National Democratic Convention with mindlessness and "sadism" as the whole world watched. And as Olbermann explains, it took a racist such as Governor George Wallace promising "Segregation now, segregation tomorrow, segregation forever," to fire up the Civil Rights movement in the Deep South during the 60s. And then there was the insanity of the last "white knight" of the nutwing's favorite paranoiac, Senator McCarthy, whose career of fear mongering and going after imaginary librul boogeymen ended when he went too far and questioned the loyalty of the US military on national TV.

As Keith explains about the above flag wavers, "American freedom has not flourished in spite of these morons of History, it has flourished because of them . . . because they over-reacted . . . because they underthought, over-reached, under-understood. We owe them our traditions of protest. We owe them our freedoms, we owe them our very Independence . . . "

After this brief lookback at our nation's history, Keith then eviscerates the latest dunderhead to invigorate a movement of the American people: Mayor Michael Bloomberg of New York City.

My favorite part of this outstanding rant is when Keith really gets into gear and tears into Bloomberg for arresting 700 demonstrators for impeding traffic on a bridge, while going out of his way to block another bridge . . . on purpose . . . "for another goddamn Batman movie!"

2011-11-16T16:02:00.001-05:00

Energy Independence - The Big Lie: The Burning Platform

2011-11-03T06:17:00.005-04:00

Comic Strip: Tom the Dancing Bug in "Class Warfare"

Double Standards - Motley Fool Poster jweist

An Open Letter To Bully Bosses: Steve Jobs’ Greatest Failure Should Be Your Greatest Success - Reclaim Leadership dotcom

Street clashes, arrests as bank leader speaks - Seattle Times

Capitalism Needs Regulation – Why Max Keiser is Correct and Libertarians are Mistaken - GoldStockBull

Bad Moon Rising - The Burning Platform

Yes or No? Greece's Euro Membership To Be Put To Vote - Bloomberg

Welcome To America's Lost Decade - Atlantic Monthly

ABC News Looks At Where The Jobs Are: North Dakota

2011-10-21T04:07:00.000-04:00

video platform video management video solutions video player

2011-10-21T03:54:00.002-04:00

Oct. 29th, 2011 . . . Adbusters Calls For A RobinHood Global March

Fed Officials discuss buying more MBS, Bernanke talks with Senators

Dylan Ratigan & Senator Bernie Sanders (I-VT) Discuss How The Federal Reserve Has Gamed Our Economy

2011-10-20T06:14:00.006-04:00

The Conflict Of Interest between the Federal Reserve Bank and the bailed out Too Big To Fail banks has just been unveiled by a report Congress just released. This audit clearly shows that now it's time to say "Enough, is enough!"

Dylan Ratigan goes into a newly released Fed Audit report showing 18 members of the Federal Reserve Board are/were members of the Too Big To Fail Banks and voted themselves bailouts when the financial crisis hit. Seven of these board members were once the heads of the banks they voted to bailout. Dylan asks, "This is the first audit ever of the controversial and un-orthodox tools that the Fed used during the financial crisis to cover up the banks' problems and perpetuate a Too Big To Fail system with a dark casino based swaps market. Why should we care?"

He answers the question himself, "Because the group of people doing this are appointed, unelected, elite, platinum citizens who are exploiting our nation's economy and our nation's currency to preserve their own interests - mind you - unchecked, when it comes to power . . . "

2011-10-20T01:17:00.007-04:00

The Miracle Of North Dakota Is Not Oil, But It's State Bank

Jim Hightower: "Wall Street Is Dazed And Confused"

Orlando, Florida: Total Mortgage Debt Of All Homes Is More Than Total Value Of All Homes

Matt Taibbi: Why Occupy Wall Street Is Bigger Than Left vs. Right

How To Stop Corporate Welfare For Too Big To Fail Banks - Nouriel Roubini Says Use Hammurabi's Code

2011-10-20T00:59:00.002-04:00

2011-10-19T06:00:00.007-04:00

5 Banks Account For $250 Trillion (96%) Of US Derivatives Exposure

Moody's Downgrades British Banks

James Kunstler: "Going Apeshit"

Charles Hugh Smith: "Debt-Serfdom Is Now The American Norm"

Paul Krugman: "Panic Of The Plutocrats"

Mish: A "Must See" Heart Wrenching Video of Moral Deterioration in China

2011-10-14T01:46:00.005-04:00

Foreigners dump $76 Billion in US Treasuries in record time over the past six weeks

JP Morgan Raises Target Price Of Gold From $1800 to $2150 Per Ounce . . . Says Miners Are Cheap Now

Jim Rogers Tells Larry Kudlow, "I'm much more a Capitalist than you, Larry. Let the damn banks fail!

2011-10-14T01:23:00.003-04:00

Here's inimitable Jim Rogers being his usual testy self. At one point he looses his temper and says, "I'm much more a Capitalist than you are, Larry. Let the damn banks fail! Why are we saving the bondholders?"

Rogers also predicts Greece is not salvageable, Greece will go bust, and the Fed and ECB will waste more time and money with QE trying to backstop Greece.

The 99%, Elizabeth Warren, Occupy Everywhere

2011-10-07T05:31:00.005-04:00

2011-10-06T05:10:00.001-04:00

Dylan Ratigan: Boomshakalakah! 100k in One Week as the Wave Surges

A 16 Yr. Old Protester, Jelani Gibson, From Pontiac Michigan Explains Why He's At Occupy Wall Street

2011-10-06T04:14:00.002-04:00

Turnstyle News from Oakland, CA interviewed Jelani, a 16-year-old protester who traveled with his grandmother from Pontiac, Michigan to New York City for the Occupy Wall Street protests. "I had never slept on the street before," he says. His mom said it was okay to take time out from school, because he has a 4.0 GPA.

Jelani articulates, "I realize that once the previous generation is gone, my generation will be left with the mess . . ." A tip of my Miami Heat cap to Jealani's mom and grandmom for bringing him to the "field" to see an historic moment firsthand.

Jelani, Occupy Wall Street from adele pham on Vimeo.

NBC Nightly News: Unions Join Occupy Wall Street, Protests Spread Across America

2011-10-06T03:47:00.002-04:00

Visit msnbc.com for breaking news, world news, and news about the economy

Part 1 - MELTDOWN - A Look At The Global Economic Crisis And The Men Who Crashed The World Causing It

2011-10-05T22:14:00.004-04:00

2011-10-03T13:42:00.003-04:00

How the European Rot Entered Wall Street

James Kunstler: "Here Comes The Owsers!"

GOP Mega-Donor Koch Brothers' Company Tied To Global Criminal Misdeeds In Bombshell Article

2011-09-30T00:09:00.002-04:00

Initial Jobless Claims in U.S. Decline on Seasonal Adjustment Difficulties

Zero Hedge: The "Muddle Through" Has Failed: BCG Says "There May Be Only Painful Ways Out Of The Crisis"

Marc Faber Says The Next Financial Crisis Will Be "Huge"

2011-09-29T23:55:00.004-04:00

Mainstream Media Begins To Pick Up On "Occupy Wall Street"

2011-09-29T13:12:00.002-04:00

Kudos to Lawrence O'Donnell and MSNBC for being the first Mainstream Media outlet to give a good airing to Occupy Wall Street:

2011-09-29T10:27:00.009-04:00

Mish: China Loan Shark Market Crashes; Scores of Chinese Business Owners Unable to Pay Black Market Loans Commit Suicide or Disappear

Jesse's Cafe: Die Mackie Messers Der Wall Street - The Mack the Knives of Wall Street

Michael Lewis' Latest In Vanity Fair: "California And Bust"

Germany Approves A Bailout That's Way Too Small To Solve Europe's Problems

Naked Capitalism: Why Liberals Are Lame: McCarthyite Identity Politics as Cover for Bankrupt Policies

The Watchworld's newest link: We Are The 99 Percent Blog

Occupy Wall Street Protest Picking Up Steam

Gary Shilling: The Economy Is Slowing, Yields Will Plunge, Deflation Is Coming And Stocks Are Headed Lower

Debt deal: anger and deceit has led the US into a billionaires' coup

2011-09-28T16:48:00.002-04:00

Saving The Rich, Losing The Economy

10 Lessons Gleaned From Michael Lewis's New Book "Boomerang"

Eurozone Market Is Toast

2011-09-27T11:52:00.001-04:00

In a scary and painfully frank interview a freaked out BBC interviewer is visibly shaken when market trader Alessio Rastani predicts that the "Market is Toast." Apparently there is nothing Euro governments can do.

2011-09-26T20:35:00.003-04:00

Saving the Rich, Losing the Economy

Tom The Dancing Bug: The Fight For Corporate Rights - America's Shame

Hundreds Sell Their Burial Plots for Cash

James Kunstler: "Punked World"

On Pace for Record Low New Home Sales in 2011

2011-09-25T22:31:00.001-04:00

Depressed Middle Class Greeks Tell Their Stories

Dream Works drops deal with HBO to begin working with Netflix web streaming only

Occupation Wall Street - Day 8: Getting Ugly

How Fiat Money Widens The Gap Between The Rich And Poor

2011-09-25T21:36:00.001-04:00

2011-09-23T09:16:00.001-04:00

Photos from Occupy Wall Street posted to Flickr

2011-09-17T05:30:00.011-04:00

What Happens If/When Greece Defaults And A Primer For Next Steps For The Euro Area

Volatility in equity markets is burning smart-money players, and even experienced traders are finding it hard to keep up

UAW reaches tentative agreement with GM

The week ahead: 2 day long Fed meeting and loads of housing data

Thousands of protesters ready to Occupy Wall Street today, Saturday, Sep. 17, 2011

Ten Key Dates Crucial For The Survival Of Europe

Mayor Bloomberg Warns Of Mass Riots If More Jobs Are Not Created

Dumpster Diving "Freegans": Now A Hot New Trend In America

Europeans Rule Out Geithner's Stimulus Ideas

Banks ‘Quietly’ Lobby BRICs for Greece Aid

25 Signs Of Impeding Global Water Crisis

2011-09-16T05:17:00.011-04:00

European Bank Blowups Hidden With Shell Games: Jonathan Weil

Eurozone debt crisis 'in dangerous new phase' warns IMF chief

On waiting to give up on searching for a job

Gerald Celente: “Things Are Going to Get Much Worse…Society Is Breaking Down”

China losing its edge for low cost labor

Paul Krugman: "Free To Die"

California shacking – three trends crushing the California housing market. Young workers moving back home, household incomes back to 1990s levels, and lack of an entry level market.

Middle Class Death Watch: As Poverty Spreads, 28% of Americans Who Were Part of the Middle Class Have Fallen Out of It

A Record 50 Million Americans Are Now Medically Uninsured

Matt Taibbi: Rogue Trader My Ass

A Motley Fool Poster Explains The "Shadow Banking System" And Why It Is Crisis Prone

Nurses Rally in San Francisco; Join Thousands of RNs Across the Nation to say Tax Wall Street!

2011-09-16T04:13:00.002-04:00

Did Fannie Mae, Owned By US Taxpayers, Just Bailout Bank Of America This Month?

2011-09-16T03:42:00.003-04:00

Bank of America was supposed to have put up some 400,000 loans for sale to private banks recently. Those loans allowed Bank of America to collect $73 Million in service fees.

But before the sale went through, Fannie Mae bought the loans for what appears to be $500,000,000 (half-billion dollars).

Which leads one to ask, "Why didn't Bank of America go through with the originally planned sale?

And why did the US Taxpayer bailout Bank of America without any noise about it in the Mainstream Media?"

Lastly, if this is indeed correct, why would Fannie Mae overpay by 7 times $500,000,000 for a potential service fee profit of only $73 Million? Was this just another shady bailout of a Too Big To Fail Bank?

2011-09-15T05:06:00.006-04:00

Corruption? 5400 Former Legislators Have Become Lobbyists In The Past Decade

The American Middle Class' Lost Decade

Here Comes Apple's Real TV

UBS Unauthroized Trade = $2 Billion Loss

As Their States Crumble, Republican Leaders Refuse To Invest In Infrastructure

Welcome to the United Corporations of America, Where A Crony Congressman Wants To Do Away With All Corporate Taxes

A Tsunami Of Foreclosures Is Just Beginning To Hit The US Housing Market . . . Here's Why

Camden NJ - Poster Child Of America's Economic Collapse

2011-09-14T05:08:00.002-04:00

This is Camden, New Jersey, "the most broke town in America". Here, 35% of all citizens live in poverty.

Thom Hartmann vs. David Seling On America's Infrastructure Now Ranked 16th In The World

2011-09-14T04:49:00.006-04:00

Progressive commentator Thom Hartmann and Conservative commentator David Selig discuss America's infrastructure and the President's recent works bill which will begin to repair America's infrastructure.

We learn America is now ranked 16th in the world for infrastructure. Just in one state, Kentucky, 34% of all bridges are structurally insufficient. Hartmann contends the debt during Eisenhower's time was 128%, yet that debt was used to build America's interstate road system which lit a fire under a new economy.

Selig believes money is being wasted on infrastructure by President Obama and that the spending has no accountability.

2011-09-14T03:22:00.005-04:00

Slideshow of New Jersey's Homeless Tent City

Former manager of Argentina's Central Bank after that country's default says Greece's debt is unpayable and Greece "should default, and default big."

Italian Parliament Ready To Finally Vote On Austerity Plan

China urges USA not to resort to protectionism

Moody's cuts ratings on French banks as Euro crisis deepens

Why a working class revolt may not be unthinkable now

Ralph Nader Defends Ron Paul And Explains What Americans Are Ignoring About 9/11

2011-09-14T03:07:00.004-04:00

After attending a 9/11 panel in northwest D.C. on Monday, Ralph Nader told The Nation‘s George Zornick that Americans had mostly ignored the reasons that the terrorist attacks occurred.

Ralph Nader was up in D.C. last night where he took part in a panel discussing 9/11. In this post-confence video, Nader speaks to George Zornick from The Nation and hits on what America ignored pre and post 9/11:

“All we want to say is that it was a terrorist attack, it was evil, don’t talk about what caused it,” he said. “What really lead to it was, one, we back dictators over there that repress and kill their own people with American arms. Two, we support the Israeli position against the rights of the Palestinian people to have their own state. And three, we have repeatedly failed — no matter how much money we spend — to defend our own country.”

“The folly of the military-industrial complex is that it not only erodes our economy and destroys a quality standard of living, but it also insures an empire which is insatiable in terms of the contracts that Lockheed Martin and others want to dominate the world,” Nader added. “It’s just the opposite of defense, an empire eventually devours its own people.”

Congressman Ron Paul (R-TX) was booed at the CNN/Tea Party Republican debate on Monday night for trying to explain why al Qaeda had attacked the U.S.

Robert Reich - "The Big Lie About The Economy"

2011-09-11T16:40:00.001-04:00

Former U.S. Labor Secretary Robert Reich talks about the big lies about the economy and what can be done to fix it. His keynote was part of the "Summit for a Fair Economy" held in Minneapolis on September 10, 2011.

2011-09-10T01:04:00.012-04:00

Monday, Sep. 12th: Bank of America CEO To Speak. Tens of thousands of layoffs expected, hundreds of branches to close?

Chris Whalen: Bank of America is Doomed

Britain Tries for a Second Industrial Revolution

Retail sales "probably" slowed in August

Ten Swiss Banks Give US Authorities Data On Tax Dodgers

Jim Rogers: Go Hog Crazy Buying Euros If Greece Defaults

Is Rick Perry Saying Social Security Is A Fraud?

Another Disaster In the Making

Greece: Articles On Its Financial Crisis

Margarittaville Video Game For Couch Surfing Parrothead Blobs

Forbes: Classic Bear Flag Pattern On The S&P 500 Chart

Charles Hugh-Smirth: Classic Bear Flag Pattern On the Dow Industrial Chart

Longshoremen back at Seattle Port protest site after Thursday's mayhem

Egyptian Protesters Break Into, Ransack Israeli Embassy . . . Israeli Ambassador Flees Home

A simple example showing what happens when you only pay the minimun monthly payment on your credit card debt

A New Global Economic Order

$31 Billion (Possibly $60 Billion) Spent On Private Contractors Was Lost To Waste, Fraud And Abuse

September 17th - Is America Ripe For A Tahir Moment?

2011-09-09T04:43:00.007-04:00

Steal These Images!

Paul Farrell: Occupy Wall Street will lay siege to U.S. greed

Commentary: 20,000 or more set Sept. 17 as start of ‘American Fall’

2011-09-09T00:24:00.013-04:00

40,000 jobs to be cut in first round of Bank of America layoffs?

Vegas, Baby! Too Many Rooms, Not Enough People

20 Quotes From European Leaders That Prove That They Know That The Financial System In Europe Is Doomed

Real Estate In The USA: From Darkness To The Abyss

Here’s why Longshore workers are so angry

Rick Perry's Flaming Hypocrisy: Cuts His State's Firefighting Funds By 75%, Calls Obama For Federal Help Before The Debate, And During Debate Calls Obama "An Abject Liar"

Looks Like A Long, Cold, Hard Winter For Housing Prices

President Obama Proposes $447 Billion Jobs Plan

Labor Department Investigates Homebuilders For Not Paying Minimum Wage And Overtime

Greece Bonds Now Yielding 82% Tell You A Default Is Most Likely

Greek Slackers May Cause The Eurozone To Force Them Out The Door

We Had To Save The Banks To Sue Them

2011-09-08T04:24:00.006-04:00

OECD says growth has stopped therefore central banks should flood the world with money

Paul Farrell: Occupy Wall Street will lay siege to U.S. greed
Commentary: 20,000 or more set Sept. 17 as start of ‘American Fall’

September 17 - Wall Street To Be Closed Down By Protesters?

The Fed Is Preparing To Act

Neat link: Real Time Hang Seng Indices

President Obama To Unveil New $300 Jobs Program Today

America Yawns As Bailout Fatigue Turns Us Into Zombies

Pitstop Tire Key West - Coolest New Business To Come Up Or Down US1 In A Long Time

2011-09-08T03:21:00.008-04:00

NOTE: Instead of posting economic news or videos on my blog early this morning, I thought I would post about a new business idea which wowed me yesterday afternoon. This proves the American "Can Do" entrepreneurial spirit is still alive and well in the hinterlands of this country.

Here's my story:

Yesterday afternoon I had two new tires mounted and balanced and put on my car at my ranch by a new business called Pitstop Tire Key West.

While I was out cutting grass on the back one acre of the ranch, Javier and Romero were taking two bad tires off my 96 Toyota (my farm "truck") and replacing them with brand new radial tires. So. In order: They jacked up my car, they took the lugnuts off with an air gun, they took the old tires and wheels off the axles, they dismounted the old tires, they put a brand new radial tire on each wheel, then they balanced the wheels, and then the new tires with balanced wheels were put back on my car. Time of the job? Not even an hour!

I learned about this incredible tire service from my manager, Jason (Juan) at work. This is how he learned about this incredible convenient service:

Jason owns a 4 wheel drive which he had to take to a local car dealership for what they said was going to be a major repair. The vehicle sat in their repair bay lot for six weeks. The shop kept telling Jason that since his vehicle (an H2) was no longer manufactured, he needed to find another H2 owner, bring that vehicle to the dealership, and have code from its onboard computer uploaded to the one in Jason's vehicle. (The dealership told Jason they would give the other H2 owner a free oil change worth $90.00) After six weeks of this maddening delay, Jason decided to take this vehicle away from the dealership lot and see if his friend, Javier, "a former backyard mechanic", could help him out.

Javier looked over the H2 and in a matter of minutes tells Jason, "Here's your problem, brother, a $40 fuse." Bam. What was going to be hundreds and hundreds of dollars in un-needed dealership repairs only cost Jason $40 and was solved in minutes by this friend of his, Javier, who has worked on cars for years in his backyard.

Okay, so Jason tells me about this guy and I quip, "Does he do repairs at your home?"

"As a matter of fact, Rocko, he not only does repairs at your home, or his, but he's just launched a new service (this week is the third week) of changing tires at your home and place of business!"

"Now how the hell can the guy do that, Jason? You need tires balanced, mounted, etc."

"Yeah, he bought all this equipment. Mounted it in his van and a trailer. And now he goes to where the problem is. No more having a tow truck picking up your car and towing it down to your mechanic 20 miles away. No more having to get up after an hour or two sleep, taking your car to a mechanic, taking a taxi or catching a ride back home."

So. I needed two tires. I call this guy, Javier. He orders the radials I wanted yesterday (a step up for this old Toyota which looks like shit but runs like a champ). The tires arrived today. Javier calls me up from Big Coppitt where he lives. "Your tires have arrived and I can be up there in 20 minutes."

"Excellent! I'm out in the yard cutting grass and pruning trees. Come on up!"

I give him directions to where I live up here in Cudjoe Key.

Pit Stop Key West comes down my 1/2 mile long dirt road, real easy like, because of all the potholes. As he gets closer, I'm thinking, "This guy is serious! Look at this van and trailer."

He gets here to the car which has one blow out and can't be moved. He needed no extension cords run from my house for electricity. He had a generator, an air compressor, a tire changing machine, a machine which balances the tire, etc., all mounted in either the van or in the trailer.

I said, "Guys, I'll be out there cutting grass. Just let me know when you are finished and how much the damage is."

About 45 minutes later I'm riding by Javier and he shouts the job is done. I was stunned. He also filled up the two older tires on the back with air. And he suggested I have the front end aligned later.

So we got to talking about this new service. Check this out. He will come to your home and change your oil and filter for a flat rate of $30! (Think back to the beginning of this post. The dealership in Key West was telling Jason their oil change with filters cost $90.) Now that $30 flat fee is for up to 5 quarts of oil. If you have a huge vehicle, he'll charge you a little extra. I want to say it was $60 flat fee for the more expensive synthetic oil.

Regardless, the cool thing about all this is if you are a night worker, you don't even have to get up in the morning any longer to take your vehicle to a garage. Now the garage comes to you. And they take credit cards. And if you want, you can arrange to leave your key hidden at your property while you sleep and Javier will do the oil change, tire change, etc., while you keep snoring.

For my friends at Rick's, I'll be placing one of his flyers and some of Pit Stop Key West cards on the bulletin board at work. All the women who work with me, this is the answer to a lot of your, "Who do you trust to work on your car, Rocko?" This guy, Javier, is an ex-bar worker (Fat Tuesday's) who knows what we go through. He's just starting out with the "come to your home or business" tire changing and oil changing. And he's offering other services too.

I thank the manager of the Red Garter, Jason Rodriquez, for alerting me to this new business and this honest mechanic who comes to where your car is located.

Here's the link to his new Facebook page for his business. Everybody at work, take one of his cards and keep it in your purse or wallet. He does Emergency Road service on cars just like those bigger trucks do for tractor trailer rigs with blowouts.

Later, gang.

Rocko over and out,

p.s. Key West readers will have to just go to facebook and punch up Pitstop Tire Key West to see their new facebook page. For some reason facebook links are "buggy" this morning and will not link to Google's blogging service. C'est la Vie.

2011-09-03T01:19:00.005-04:00

Robert Reich to President Obama: Be Bold Next Week

How Bad Will The Greek Recession Be? How Will Italy And Spain React To New Austerity Measures Forced By ECB Demands?

Charles Hugh Smith: "When Debt Is Fraud, Debt Forgiveness Is The Only Solution"

Ambrose Evans-Pritchard: "When debt levels turn cancerous"

How Excessive Speculation Destroyed Our Commodities Markets In the 90s and Early 21st Century

2011-09-02T08:13:00.001-04:00

More at The Real News

2011-08-19T09:00:00.001-04:00

Existing home sales for July 2011 and median home prices"unexpectedly tumble"

2011-08-11T17:42:00.003-04:00

Crooks And Liars: How Dean Baker and Matt Taibbi Exposed the Lie of the Last Tax Holiday

64% of Americans Cannot Afford a $1,000 Emergency

US Births Decline in 2010

Thom Hartmann Looks At The General Welfare Clause In Our Constitution, Article 1, Section 8

2011-07-28T21:19:00.003-04:00

Ohioans Ready To Send Governor Kucinich And His Union Busting Packing

2011-07-22T01:10:00.005-04:00

Remember the more than 1.3 million signatures by citizens from the state of Ohio to place a referendum on the upcoming November ballot to recall/overturn Governor John Kasich's (R) and the Republican Party's new Senate Bill 5 which they rammed through and approved to bust up unions in the Buckeye state? Well, over 900,000 of those signatures have been verfied as good to go, and the signatories only needed about 250,000 to get referendum on the ballot. So Ohio voters will now have a chance to repeal Senate Bill 5 this coming November.

All of this is bad news, really bad news, for John Kasich and the Republican Party of Ohio.

Visit msnbc.com for breaking news, world news, and news about the economy

Rachel Maddow looks at just how unpopular Senate Bill 5 is with Ohio voters, and she looks over how this unpopularity is playing out in the polls against Kasich - who is now the 2nd most unpopular Governor in the USA.

Maddow interviews Ohio State Rep Armond Budish (D) who told Maddow Thursday Night, "As people learn more and more about what this union stripping bill does, they get more and more angry. Senate Bill 5 is about not letting people come together and bargain for fair wages, or for safe places to work. When people find out what this bill really does, they hate it.”

The Growing Danger Of The Chinese Real Estate Bubble

2011-07-21T00:38:00.006-04:00

China's massive oversupply of real estate inventory is now rumored to contain upwards of 64 Million new apartment units. In this look at Chinese "Ghost Towns", journeyman.tv takes us into brand new malls where there are no shop keepers and no shoppers, to brand new cities where 75% of all units are vacant.

We also learn why the vacancies are so high as the Chinese Government continues to build, build, build and nobody comes.

This past week we hear of riots in Western China where four were killed. As further polarization between the labor class and the upper classes grows in China, the central government runs the chance of feeding a blow up of property values, the Chinese Economy, and the Chinese nation...

2011-07-21T00:12:00.004-04:00

Morgan Stanley Report: Americans Moving To The "Home Rentership Society"

China Connects Fast Nuclear Reactor to Grid

Jim Rogers says the Fed will start Q3 this quarter

The NFL Players Still Haven't Voted On The New Labor Deal

4 killed in Western China riots; massive Real Estate bubble cause of riots?

Under Ronald Reagan, Debt Ceiling Was Raised 18 Times And In His Own Words, Here Is Why

2011-07-20T20:38:00.004-04:00

Maddow reads excerpts from Ronald Reagan's diary and plays an excerpt from one of his speeches giving multiple reasons why the debt ceiling had to be raised as it should be raised now. She then shows us clips and words from current Republican leaders who don't understand what a default will do to the world economy.

If you watch the first 30 seconds, you'll want to watch the whole thing:

Visit msnbc.com for breaking news, world news, and news about the economy

Peter Schiff On The Countdown To Collapse

2011-07-16T04:12:00.003-04:00

Deflation in Germany, 1929-1932

2011-07-16T03:59:00.000-04:00

Protesters vs. Police In Chile, July 12, 2011

2011-07-16T03:39:00.002-04:00

The Prison Industrial Complex: Money For Death And Imprisonment; None For Life And Prosperity

2011-07-16T03:32:00.002-04:00

2011-07-15T22:49:00.004-04:00

How the SEC is slowly being drowned by the Republican controlled Appropriations Committee

Music's Last Best Hope: How and why Spotify is going to eat iTunes' and Rhapsody's lunch

Do you wear Nike's Converse brand shoes? Meet the Indonesians who make them and suffer .50 cent hourly wages, beatings and humiliation

Florida Man about to be evicted sets fire to his home, is shot by deputy

Senate bill would kill stock option tax break

Eric Cantor (R - VA) is okay with taxing students more while taking tax increases for wealthy people off the table

Tim Pawlent is advising Republican leaders not to extend the debt limit unless the Democrats give them something really good in return. Pawlenty also says if the debt limit is not extended, then we should pay off outside creditors first, then our military, and the last to be paid should be normal Americans.

While Prosecutors Nail Banks Over Offshore Tax Abuses, Lobbyists Push To Delay New IRS Rules

2011-07-15T00:54:00.007-04:00

Peter Schiff: "It Ain't Money If I Can't Print It"

Business Insider: 40 Facts That Prove The Middle Class Is Being Systematically Wiped Out

Mish: Retail Sales Laugh of the Day: "Falling Gas Prices Held Back Retail Sales"; Weakest Performance Since July 2010 ; Auto Sales Mirage

Dollar Weakens After S&P Says May Lower U.S. AAA Rating; Franc Strengthens

Cisco to cut 10,000 jobs so it can raise profit margins?

St. John's River, Florida Water Management facing 130 employee layoff

The NBA lays 114 employees, but says it was not due to the lockout

Salon: Eric Cantor is the most dangerous whiner in America

67% of all Americans favor raising the debt ceiling while taxing the wealthy and corporations more

A Threat To Our Air, Water & Land: Sewage Sludge Used By Farmers As Fertilizer

2011-07-14T16:56:00.001-04:00

Sewage Sludge on farmland from Tina Motley-Pearson on Vimeo.

Dark Side Of The Moon With Rick Perry The Loon

2011-07-14T12:59:00.010-04:00

Rick Perry is one of the most dangerous men in American politics today. Judge him by the friends he promotes.

The other night, Rachel Maddow's Show presented a series of video clips of Fundamental Preachers who are appearing at this Rick Perry endorsed stadium prayer event in Texas. You know this event. It's the one which Atheists and Agnostics are suing to have Perry stop promoting.

It's the prayer event trumpeted by Governor Rick Perry (R-TX) as a way for God to give new direction to him and other leaders on how to handle terrorists, the weather and the world's financial problems. "Given the trials that beset our nation and world, from the global economic downturn to natural disasters, the lingering danger of terrorism and continued debasement of our culture, I believe it is time to convene the leaders from each of our United States in a day of prayer and fasting, like that described in the book of Joel," Perry said in his open invitation to attend the event on June 3. (Just pay close attention to the short Perry clip and shake your head that God is gonna don his Great Economist hat and set this nation's Economy right.)

Whereas John McCain backpedaled away from Fundamentalist preachers whom he discovered were crazier than a cave of blood sucking bats on crack cocaine, Rick Perry has invited all the other 49 governors in the USA, and the Obama Administration, to attend this prayer hoedown led by a bunch of unhinged, unsound, unzipped minds which reside inside the heads of a bunch of moonstruck preachers.

As the assembled video clips on the Maddow Show clearly demonstrate, many of this show's starring Fundamentalist Taliban are engineering a Crazy Train of Thought which is not only embarrassing, but downright sad and scary. (Jim Jones would have felt comfortable preaching at this upcoming event.)

What is worrisome is Rick Perry does not sense anything wrong with any of these preachers:

One preacher man at the beginning of this clip identifies Oprah as the anti-Christ.
Another said God sent Hitler to lead the Jews to the Holy Land. He also claims Hitler's most savage soldiers were homosexuals, as homosexuals are amoral and were willing to murder the Jews with no forethought. (This nutbag obviously never heard of the pink armbands forced on homosexual prisoners in the Concentration Camps.)
Then there's an American reverend who claims the Statue of Libery is an idolatry installed by French Free Masons.
One of my favorites of these cross sucking loons is this Christian Wizard, C. Peter Wagner, Founder of something called the International Council of Apostles. This man, who needs to be Baker Acted, blames the fall of the Japanese stock market on (and I'm not making this up) the Japanese Emperor having sexual intercourse with a demon called "The Sun Goddess".

There are many other whacky clips here of Armageddonists and the like, but why give you any more descriptions when you can watch these batty prophets do their own thing on video? Remember, Perry not only consorts with these Fundamentalist screwballs, he is imploring the other 49 Governors and the Obama Administration to come on down to Texas and get right with Jayzus and his appointed disciples.

If the GOP runs a Perry/Bachmann ticket in 2012, you can rest assure those Independents who once kicked the tires of maybe voting Republican again will run - not walk - back into the arms of a President who doesn't want to establish a Theocracy in the White House.

Watch this whole clip. It's the most damning evidence that Rick Perry is not the man we want walking around with the codes to launch nuclear missiles and bring about the Judgement Day which so many of his flaky Fundamentalist friends are predicting is right around the corner.

Visit msnbc.com for breaking news, world news, and news about the economy

2011-07-14T00:30:00.005-04:00

The Automatic Earth: "As Italy Sinks, France Is Leaking"

Extended unemployment benefits are to end for "99ers" at the start of 2012

Vacancies At US Shopping Centers Are Climbing Again

Fitch gives Greece the world's lowest rating on its debt

Mark Fiore: "Trickle Down Tales & The Tax Cut Fairies"

Worst Central Banker Of All Time, Alan Greenspan, Blames US Productivity Falls On Young People

More Fed Easing? What Could Bernanke Be Thinking?

Bernanke: Fed Ready To Step In Again "If Needed"

Moody's Places USA On Review For Downgrade

Apocalypse Investors On Wall Street

Let Them Eat Cake

Bill Maher Wonders Why Refugees From The Middle Class Keep Voting Republican

2011-07-13T17:23:00.004-04:00

Maher: "Every election, roughly half the population votes Democrat, the other half votes Republican. I understand why Republicans get 1% of the vote . . . the richest 1%. That other 49% (of Americans) someone will just have to explain to me. The facts about what the Republicans have done to the Middle Class are beyond reasonable doubt. And yet their base refuses to see it. The moneyed elite of America are dragging a bag filled with your future down the steps and your reaction is, "Hold on there, that looks heavy, let me give you a hand getting that into your trunk.""

Keith Olbermann: Now Would Be A Great Time For All Mistreated News Corp Employees To Speak Truth To Power

2011-07-13T17:04:00.002-04:00

Obama Administration Gets Help From Abe Lincoln On How To Deal With AIG Bailouts

2011-07-07T18:22:00.002-04:00

2011-07-07T06:47:00.007-04:00

Doctor Housing Bubble: Reversal of real estate fortune – How option ARMs went from low grade toxic mortgages to boon for home debtors and banks. Financial generosity of moral hazard.

End Of An Era: Hard Times Coming To Florida's Space Coast Again

A Brilliant Read by Jesse Eisinger: "In U.S. Monetary Policy, a Boon to Banks"

An easy to understand timeline of the phone hacking scandal in the United Kingdom

Gary Shilling Thinks Commodities Are In A Bubble And About To Burst

Replay . . . Micheal Lewis: "When Irish Eyes Are Crying"

From the Film "The International" - "The Essence Of The Banks Is To Make Us Slaves To Debt"

2011-07-06T16:17:00.002-04:00

The very essence of the banking system. To make us all slaves to debt. Those who control the debt, control everything.

James Altucher Explains Why He Believes The Dow Will Hit 20,000 In The Next 18 Months

2011-07-06T15:49:00.002-04:00

2011-07-06T10:54:00.004-04:00

Bond God Jefferey Gunlach On Our Train Wreck Economy

Why The Dow Will Plunge To 7,000

China raises rates again

The worst "Recovery" since the 1930s

Florida For Sale: 3 Exciting Reasons To Bring Your Corporation To The Sunshine State!

2011-07-05T21:15:00.001-04:00

2011-07-05T16:05:00.005-04:00

Tom Tomorrow: "Good Morning, Children!"

Irish ICTU: Default Now or Later?

Moody's Downgrades Portugal to "Junk"

July 4, 2011: Serfdom Day

Paul Farrell: 7 reasons U.S. needs a Good Depression now

Brazil About To Drop Off A Cliff?

Jim Kunstler: "Birthday Card"

Why the American dream is only a dream for most – Rent versus buying a home analysis in Culver City. Why it makes sense to rent in bubble cities and why the mainstream press fails to mention household incomes.

Weekend Roundup - July 1, 2011

2011-07-01T15:04:00.003-04:00

Mish - Top Chinese Auditor warns of coming local government defaults

Respect My Authoritie Pt. 1 - Ohio police beat, taser handicapped teen, tells neighbor trying to explain the boy's impediment to STFU

Geithner Leaving? End of the Obama Era?

The Oscar Award Winning Movie "Inside Job" In 8 Parts

2011-06-29T19:05:00.006-04:00

Part 1

Part 2

Part 3

Part 4

Part 5

Part 6

Part 7

Part 8

Global Industrial Growth's Pace Has Peaked And Will Continue To Slow Down

2011-06-29T09:20:00.004-04:00

Lakshman Achuthan, co-founder and managing director of the Economic Cycle Research Institute, says Global Industrial Growth has peaked and is slowing down. He also says the US Economy is going to slow down dramatically.

Specifically, this slowdown in the US will be at least a couple of quarters long, and possibly longer. Achuthan bases this call on long term indicators which does not include commodities or stock market indicators. It does, however, look at housing, profits, etc.

His firm follows 20 countries and he says this is a natural progression of the ebb and flow of the Global Economy business cycle.

2011-06-29T05:43:00.009-04:00

2005 - Murdoch pays $580 Million for My Space; June 29, 2011 - Murdoch unloads My Space for around $35 Million

Bend over Greece, this is gonna hurt

Meredith Whitney: "Beware July 1st"

Global food production not able to keep up with demand

Corn and soybean prices on the rise again due to poorer US crop conditions

Bank of America about to settle for $8.5 Billion in losses suffered by investors in the bank's mortgage backed securities

Andy Beal's FDIC insured hedge fund

Greek Griftopia: Greece begins to lease and sell parts of its public wealth to satisfy global banksters

In the last 17 months, home prices in the 20 biggest US cities have not fallen as much as they did last month

The Painful Collapse of Empire: How the "American Dream" and American Exceptionalism Wreck Havoc on the World

2011-06-27T11:37:00.008-04:00

Zero Hedge: "Bernankenstein's Monster"

A. Gary Shilling: "Why China Is Heading For A Hard Landing, Pt. 1"

Dr. Housing Bubble: "The end of Ponzi financing era in the United States and the World – When income, revenues, and swindles no longer support servicing debt. From California home owners, Greek bondholders, and Japanese zombie banks."

Mother Jones - "All Work And No Pay: The Great Speedup"

Golman Sachs 666: "Goldman Sach's Favored Status"

Charles Hugh Smith: "What If The Consensus Is Wrong?"

Jim Kunstler: "Suspended Agitation"

Financial Armageddon: "Looking Worse"

Dylan Ratigan: "Why Are Our Politicians So Desperate To Perpetually Protect The Banks . . . ?" Interview With David Stockman

2011-06-25T05:43:00.010-04:00

David Stockman, former Budget Director for Ronald Reagan, says he believes Ben Bernanke is finished, done. He says we need to address the disastrous problems in the banking system, not print more money which has only enriched Wall Street and encouraged massive speculation in commodities, derivatives, etc.

Stockman says it was an Urban Legend that Wall Street's problems in 2008 could have resulted in a Great Depression should the bailout have never happened. He also says the thing to have done would have been to allow the banks to sort out their own problems and restructure after certain of them failed.

Possibly the most contentious example which Stockman describes was what should have happened to GE. Stockman says the blame for GE almost going under rests on the shoulders of CEO Jeff Immelt. Instead of a bailout by the government for GE Capital, Stockman says GE should have been allowed to force their shareholders to take a massive hit, that GE should have gone back to the markets with secondary offerings for their errant behaviour in investing in massive derivative schemes to boost profits.

High Definition Trailer for "Inside Job"

2011-06-25T05:00:00.001-04:00

2011-06-25T03:42:00.004-04:00

Congressman Ron Paul (R-TX): Is There Any Gold In Fort Knox?

Coca Cola plans to raise prices 3 to 4% on its sugar water confections

Playboy Dynasty On Life Support

Detroit School System Cuts 825 Jobs, Demands 10% Pay Cuts From All Employees

Governor Malloy (D-CT) To Ask For 7,500 State Jobs To Be Cut

Since March 2010, the private sector has added jobs, the public sector has cut jobs

The Middle Class Awakens In Spain And Europe: "We demand a Democracy which has zero tolerance for corruption!"

2011-06-24T08:55:00.003-04:00

The Revolution has begun. Check out the crowds in Spain. Tune in to the rock song and lyrics accompanying this agitprop video. The Banksters and Corrupt Politicians had better start paying attention, and they should be very worried.

2011-06-24T08:32:00.008-04:00

Overworked America: 12 Charts that Will Make Your Blood Boil

America's Most Misunderstood Financial Prophet

The Attack on America's Middle Class, and the Plan to Fight Back

Postal Workers Alarmed About Their Retirement: 'Sheer Chaos' Over Account Cut, Worker Says

Italian Banks Plunge on Ratings Review

Italian Bank Stocks Plunge, Trading Suspended; Juncker Principle in Action

Aflac To Probably Lose $610 Million In The 2nd Quarter On PIG Banks

BMW Declares War On American Workers In California

2011-06-23T16:36:00.001-04:00

2011-06-23T16:18:00.004-04:00

Counterpunch: When Only "Crazies" See the Bank Giveaway for What It Was

The Automatic Earth: "A Low Thunder Rolling 'Cross The Plains"

Union files for election at Ikea's first U.S. factory

Max Keiser Report 6/22/11 - Greece News And An Interesting Interview With Professor Steve Keen

2011-06-23T14:56:00.005-04:00

Max Keiser and his sidekick, Stacy, report on their recent trip to Greece where they witnessed a society taking it to the streets.

They also cover the IMF report which just downgraded the United States' GDP rate from 2.7 to 2.5%. Kaiser says these numbers are cooked. Stacy and Max stop and consider the irony in this as Stacy points out the IMF just a few years ago was "bankrupt". Then they focus on how the IMF is playing Hank Paulson type of politics with America, calling for America to increase its debt ceiling ASAP. As Stacy points out, all the IMF wants is more debt posted by America. If America will increase its debt to the banksters, the IMF will cease downgrading American GDP.

They then cover these sentences from a recent piece in the Financial Times by Stephen Roach: "The global economy is being hobbled by a new generation of zombies, the economic walking dead. The US Consumer is in the early stages of an unprecedented retrenchment."

Max Keiser Interviews Professor Steve Keen

After Stacy completes her segment of tossing headlines to Max, Max comes back from a break in the show to interview "The Non-Economist, Non-Economist" Australian Economics Professor Steve Keen. Professor Keen takes Keiser through the differences of private vs. public debt . . . a fascinating explanation of why we are in a Global Debt Crisis today. Keen beautifully explains private created debt drives the economy while government debt is like an ambulance which comes along to rescue the bad drivers in the private sector.

Possibly the most contentious assertion which Keen makes is the only way for us to get out of this mess is to increase private wages. Keen says raising wages will cause inflation; however, he states the only way to reduce the "value" of our debt is to increase inflation.

Lastly, my favorite thought from Steve Keen is how he looks at the banks. He says they are the big villains in the Credit Crisis as they are not in the business of lending money to finance business capitalization any longer, but are in the business of speculation.

Congressman Ron Paul (R-Tex) Talks To ABC Interviewers

2011-06-23T14:49:00.003-04:00

ABC News interviews Ron Paul on his view of foreign and domestic policy.