ReutersVideo--November 30, 2010--The euro zone debt crisis is deepening as investors pushed the spreads on Spanish, Italian and Belgian bonds to euro lifetime highs and Portugal warned of the risks facing its banks.
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Tuesday, November 30, 2010
Monday, November 29, 2010
Obama Proposes Federal Employee Pay Freeze
Obama Proposes Federal Employee Pay Freeze Nov. 29 2010 |
President Obama proposes a two-year civilian pay freeze for federal employees.
President Obama proposes a two-year civilian pay freeze for federal employees.
California Going the Way of Ireland, Greece?
Reagan.com's Mike Reagan on the mounting budget crisis facing the state.
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California
Thousands Protest Irish Nightmare Economy
Leo Panitch: U.S. created financial crisis and European banks turned the Irish Miracle into a nightmare
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Ireland
Sunday, November 28, 2010
85 Billion Euro Bailout Approved for Ireland
itnnews--November 28, 2010--Head of eurozone ministers Jean-Claude Juncker announces that an 85 billion euro bailout package has been announced.
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Ireland
Saturday, November 27, 2010
50,000 Protesters March against IMF in Dublin
Itn news—Nov. 27, 2010--An estimated 50,000 demonstrators have gathered in Dublin to protest against plans for an IMF bailout of the Irish economy.
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Ireland
Friday, November 26, 2010
Irish Banks Sink on Expectations Banks Heading Toward More State Ownership
"Irish banks Allied Irish Bank (AIB) and Bank of Ireland (IRE) are lower amid expectations that the banks are heading toward greater state ownership, AP reports.
There is deep skepticism that an international bailout loan -- whose details are expected to be unveiled Sunday -- will be enough for Ireland to resolve its debts, the story said.
Speculative media reports in Dublin and Brussels fueled nervousness, with claims that the International Monetary Fund and European Central Bank experts driving the loan talks in Dublin would like to make Ireland's senior bondholders -- chiefly foreign banks -- eat losses in Ireland's debt-crippled banks.
AIB was last down 12.48% and IRE down 8.86%."
There is deep skepticism that an international bailout loan -- whose details are expected to be unveiled Sunday -- will be enough for Ireland to resolve its debts, the story said.
Speculative media reports in Dublin and Brussels fueled nervousness, with claims that the International Monetary Fund and European Central Bank experts driving the loan talks in Dublin would like to make Ireland's senior bondholders -- chiefly foreign banks -- eat losses in Ireland's debt-crippled banks.
AIB was last down 12.48% and IRE down 8.86%."
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Ireland
Thursday, November 25, 2010
Ireland Struggling Economy
World Business: Ireland, once one of Europe's hottest economies is in a sorry state. Laden with debt, but desperate to avoid asking for help from the IMF and EU, the country has to take drastic action. With four companies going bust every day, and unemployment soaring, it will take all the luck of the Irish to get out of this economic mess.Reporter: Diana Muriel
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Ireland
Wednesday, November 24, 2010
Ireland Announces 4-year Plan to Raise $20B
The AP is reporting that Ireland has unveiled the most severe budget cutbacks in its history on Wednesday. The country mired in debt has announced a four-year plan of spending cuts and tax hikes to raise 15 billion euros ($20 billion).
Approximately 24,000 state employees could lose their jobs in the process and the sales tax could rise to 23%. The 2011-2014 plan will shave 10 billion euros ($13.3 billion) from spending and bring in 5 billion euros ($6.7 billion) from extra taxes.
The austerity plan is a prerequisite for Ireland to receive an EU-IMF loan estimated at 85 billion euros ($115 billion). Ireland is hoping its deficit, estimated to reach a record 32% this year, will fall to 3% of GDP by 2014.
Approximately 24,000 state employees could lose their jobs in the process and the sales tax could rise to 23%. The 2011-2014 plan will shave 10 billion euros ($13.3 billion) from spending and bring in 5 billion euros ($6.7 billion) from extra taxes.
The austerity plan is a prerequisite for Ireland to receive an EU-IMF loan estimated at 85 billion euros ($115 billion). Ireland is hoping its deficit, estimated to reach a record 32% this year, will fall to 3% of GDP by 2014.
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Ireland
Tuesday, November 23, 2010
Greece austerity programme on track
Greece's International lenders have cleared the way for the country to receive the next installment of its $150bn bailout package.
Officials from the EU and IMF say while its austerity programme remains largely on track, Greece needs to make an "extra effort" to reduce its budget deficit.
Meanwhile, rubbish collectors in Athens, Greece's capital, have been on strike for days, protesting cuts in wages and benefits imposed by austerity measures.
Barnaby Phillips reports from Athens.
Officials from the EU and IMF say while its austerity programme remains largely on track, Greece needs to make an "extra effort" to reduce its budget deficit.
Meanwhile, rubbish collectors in Athens, Greece's capital, have been on strike for days, protesting cuts in wages and benefits imposed by austerity measures.
Barnaby Phillips reports from Athens.
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Greece debt crisis
Monday, November 22, 2010
Ireland Debt Problems Ready to Cross the Pond
Former IMF Executive Desmond Lachman discusses why Irelands debt woes could spread like wildfire.
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Ireland
European Debt Union: Ireland in Euro Cage
Rt discusses Irish bailout with British conservative MP Douglas Carswell.
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Ireland
Dubliners Angry Over Bailout
itnnews--November 22, 2010--Dublin residents have expressed anger and disappointment over the application to the EU and IMF for a rescue package.
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Ireland
Ireland Formally Applies for Bailout
FBN's Connell McShane on Ireland's request for a bailout from the EU and the IMF.
Saturday, November 20, 2010
US foreclosures under scrutiny
US foreclosures under scrutiny
The number of homes being repossessed in the United States fell nationwide this past month, and could fall even further.
But hundreds of thousands of Americans are on the brink of losing their homes, amid accusations that banks have been wrongly handling foreclosures.
The foreclosure crisis began with the recession of 2008, when the US housing bubble burst. Lenders were faced with millions of defaults at once, and lacked the manpower to process all the paperwork.
This contributed to what has become known as "robo-signing", bank staff signing off on repossessions, without properly checking all the documents. Now there is an ongoing legal investigation into foreclosure practices in all fifty states.
And several major financial institutions have temporarily halted thousands of foreclosure proceedings while this is going on.
Al Jazeera's Scott Heidler traveled to the frontlines of the foreclosure crisis, to the city of Portland, Maine, where the allegations first emerged.
The number of homes being repossessed in the United States fell nationwide this past month, and could fall even further.
But hundreds of thousands of Americans are on the brink of losing their homes, amid accusations that banks have been wrongly handling foreclosures.
The foreclosure crisis began with the recession of 2008, when the US housing bubble burst. Lenders were faced with millions of defaults at once, and lacked the manpower to process all the paperwork.
This contributed to what has become known as "robo-signing", bank staff signing off on repossessions, without properly checking all the documents. Now there is an ongoing legal investigation into foreclosure practices in all fifty states.
And several major financial institutions have temporarily halted thousands of foreclosure proceedings while this is going on.
Al Jazeera's Scott Heidler traveled to the frontlines of the foreclosure crisis, to the city of Portland, Maine, where the allegations first emerged.
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Foreclosures
James Turk Gold $8000
Gold is in a 2nd stage of a bull market. We will see a more rapid price appreciation than in the past years. Price target until 2015: 8000 Dollar. Price manipulation has come to an end. Gold as natural alternative to currencies. Chances of hyperinflation 100%.Gold prohibition possible.
Economic Collapse: 40.8 Million Americans Now On Foodstamps
As of May 2010, the record number of Americans receiving foodstamps has risen to 40.8 Million while Gov. leaders plan to cut 6.7 Billion dollars from the program.
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Economic Collapse
Friday, November 19, 2010
Economist Ha-Joon Chang on Currency Wars and G20
Democracy NOW! - DN! - Korean-born economist Ha-Joon Chang teaches economics at the University of Cambridge and is the author of the forthcoming book 23 Things They Don't Tell You About Capitalism. "Obama] has to buy time to restructure the economy without creating a recession by sustaining this deficit spending, because otherwise our other option is going back to the 1930s," Chang says. "Don't forget that in the 1930s a lot of countries started cutting this deficit as soon as things looked slightly better, and many of them went back into recession." Published with written permission from democracynow.org. http://www.democracynow.org Provided to you under Democracy NOW creative commons license. Copyright for this news broadcast belongs to democracynow.org, an independent non-profit user funded news media,
Wednesday, November 17, 2010
Bailout for Ireland ?
Nov. 17 2010 | Ireland has agreed to work with a joint EU-IMF mission to help its banking sector, but will the debt-stricken country continue to resist a bailout? Art Hogan, director of global equities at Jefferies joined CNBC to discuss the matter.
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Ireland
Tuesday, November 16, 2010
Rick Santelli Equates the Federal Reserve to a Bulldozer
Rick Santelli Equates the Federal Reserve to a Bulldozer
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Rick Santelli
Monday, November 15, 2010
Banks Will Take Responsibility for Mortgage Meltdown
FBN's Charlie Gasparino on what to expect from bank foreclosure hearings on Capitol Hill.
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Foreclosure
Irish Bailout Will Lead to Domino Effect
Nov. 15 (Bloomberg) -- Stuart Thomson, international fixed-income fund manager at Ignis Asset Management, talks about the prospects of an Irish bailout and for contagion in Europe. He speaks from Edinburgh with Maryam Nemazee on Bloomberg Television's "Countdown."
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Ireland
Sunday, November 14, 2010
Outsourcing Becomes Major Economic Problem - Dylan Ratigan
Dylan Ratigan—Nov. 12, 2010—Outsourcing becomes a major economic problem. Millions of American jobs shipped to China.
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Outsourcing
Friday, November 12, 2010
Irish Banks in Trouble?
Irish Banks in Trouble?
Nov. 12 2010 | 6:00 AM ET
"The problems facing the Irish banks are considerable," Neil MacKinnon, global macro strategist at VTB Capital, told CNBC Friday. James Bevan, chief investment officer at CCLA Investment Management, joined the discussion.
Nov. 12 2010 | 6:00 AM ET
"The problems facing the Irish banks are considerable," Neil MacKinnon, global macro strategist at VTB Capital, told CNBC Friday. James Bevan, chief investment officer at CCLA Investment Management, joined the discussion.
Thursday, November 11, 2010
The Purpose of Taxation - Andy Gause
Fact: Taxation is a relief valve on the economic machine to ease inflationary effects on the dollar.
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Andy Gause
Naked Capitalism and QE2
Naked Capitalism's Yves Smith: Banks to Cash In on QE2 "Carry Trade" - Fed's 600 B quantitative easing may well make more profits for bankers
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Naked Capitalism,
QE2
Wednesday, November 10, 2010
QE2 a Bad Idea - John Ryding
RDQ Economics Chief Economist John Ryding discusses why the Fed's latest round of quantitative easing wont benefit the economy.
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John Ryding,
QE2
Tuesday, November 9, 2010
Do You Know Where Your Tax Dollars are Going?
FBN's Gerri Willis takes a look at how Uncle Sam is spending your hard-earned money.
Monday, November 8, 2010
China is stock piling GOLD
Tetsuya Yoshii, VP for derivative products at Mizuho Corporate Bank is bullish on gold given China's demand for the precious metal as it diversifies out of U.S. paper and dollar-based assets. He makes his case to Linda Yueh of Oxford University & CNBC's Martin Soong.
Sunday, November 7, 2010
Bankruptcy of U.S. is Mathematical Certainty, Says John Allison, Former CEO of Nation's 10th Largest Bank
“I think the first thing we have to realize is where we’re going and to face it objectively,” Allison told CNSNews.com, when asked about the trillion-dollar-plus deficits the federal government has run for three straight years, the more than $13 trillion in federal debt, and the $61.9 trillion long-term shortfall the government faces (according to the analysis of the Peter G. Peterson Foundation) if the government is to pay all the benefits it has promised through entitlement programs.
“If you run the numbers, on all those numbers that you just talked about, which I think are accurate, very accurate, in 20 or 25 years, the United States goes bankrupt,” said Allison. “It’s a mathematical certainty.read more >>>>
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John Allison
Saturday, November 6, 2010
Will Fed 600 Billion Jumpstart the Economy?
Will Fed's 600 Billion Jumpstart Economy?
Robert Pollin: Nothing in Fed's new plan will make banks lend more money
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QE2
Thursday, November 4, 2010
Quantitative Easing 2: US economy continues to sink (03Nov10)
The broke United States are pretending that printing more money will recover their economy - it won't. The money meant and banks will make the money, and the little people paying the taxes will be hung out to dry. The US economy is sinking to oblivion.
Congratulations to idiots like Gordon Brown and President Obama, who actually believe in their idol Keynes in how to ruin an economy.
What the money markets have done is give a loaded gun to sucker politicians, and said if you don't give us money, we'll pull the trigger and collapse the economy. The politicians give these crooks more money, and the economy continues to sink anyway. The politicians are in on the scam.
If people like Brown and Obama wonder why people do not support them, look at what the politicians have DELIBERATELY done to their economies.
Recorded from Newsnight, 03 November 2010.
Labels:
QE2
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