Daily Archives: October 30, 2010

The Founding Fathers’ Vision of Prosperity Has Been Destroyed

“I believe that banking institutions are more dangerous to our liberties than standing armies…The issuing power should be taken from the banks and restored to the Government, to whom it properly belongs.” – Thomas Jefferson

http://www.zerohedge.com/article/founding-fathers-vision-prosperity-has-been-destroyed

What Civil Rights: DHS Formalizes Military Role in ‘Civilian Cybersecurity’

Department of Homeland Security chief Janet Napolitano announced that the National Security Agency and the US Cyber Command will be used in civilian cybersecurity matters, insisting it was perfectly appropriate to give the military this role.

http://news.antiwar.com/2010/10/28/civil-rights-concerns-as-dhs-formalizes-military-role-in-civilian-cybersecurity/

Imminent Big Bank Death Spiral

Unfortunately, the title database has no legal standing, as declared by several state courts, including some supreme courts. Banks or financial firms holding the mortgage notes cannot team with the title database and force eviction during the…

http://news.goldseek.com/GoldenJackass/1288209233.php

U.S. on track for “fiscal train wreck”: Roubini

The U.S. economy is a “fiscal train wreck” waiting to happen that risks ushering in a period of stagnation featuring by minimal growth, high unemployment and deflationary pressure, U.S. economist Nouriel Roubini wrote on Friday.

http://www.reuters.com/article/idUSTRE69S0ZJ20101029

High Frequency Traders Might Be Manipulating Multiple Markets

We know that high frequency trading is used to manipulate the stock market. The prevalence of high frequency trading in other markets means that it might be used to manipulate those markets – perhaps virtually all markets – as well.

http://www.washingtonsblog.com/2010/10/high-frequency-traders-might-be.html

Foreclosure-Gate Explained: Big Banks on the Brink

One foreclosure expert estimates that just 6 to 7 percent of the loans made in the last three years can produce properly recorded title transfers from borrower to final lender. Legally assigning, or recording title transfers was much too slow… 

http://www.truth-out.org/foreclosuregate-explained-big-banks-brink64621

 

Backstop Benny and his Lollipop Gang: Hyperinflation Is Arriving

A beggar-thy-neighbor monetary policy works for small countries getting out of a hole of their own making: It doesn’t work for the world’s largest single economy with the world’s reserve currency, in the middle of a Global Depression.

http://gonzalolira.blogspot.com/2010/10/signs-hyperinflation-is-arriving.html

Actual U.S. Government Debt is $200-Trillion – 840 Percent of Current GDP

Boston University economist Laurence Kotlikoff says U.S. government debt is not $13.5-trillion (U.S.), which is 60 per cent of current gross domestic product, as global investors and American taxpayers think, but rather 14-fold higher: $200-trillion.

http://www.theglobeandmail.com/report-on-business/commentary/neil-reynolds/the-scary-actual-us-government-debt/article1773879/

Stores Push Black Friday Into October: Can You Say Depression?

The year’s most popular discount shopping event, referring to the Friday after Thanksgiving, is arriving ahead of Halloween this year, with some promotions beginning this week and others throughout November.

http://www.cnbc.com/id/39885763

The Fed’s ‘tax on the consumer’

Since Bernanke’s comments in August, the dollar index has dropped 7%, while commodities — which are priced in dollars — have surged. Crude oil has jumped 14%, while gold has spiked 8%. Prices for cotton, corn, sugar, wheat…

http://money.cnn.com/2010/10/28/news/economy/quantitative_easing_consumer_impact/index.htm?hpt=Sbin