Archive for May 14th, 2010

Could the Stock Market Crash in 2010? Charles Hugh Smith OfTwoMinds.com May 14, 2010 The conventional view is that the U.S. economy is “growing again” and the market is “cheap.” Sounds like the perfect setup for a crash in 2010. U.S. GDP rose by 3%, corporate profits are leaping and stocks are cheap based... »

Investor panic hit markets worldwide as fears grew that austerity measures facing troubled eurozone countries would derail recovery and spark social unrest. By Angela Monaghan TelegraphUK 14 May 2010 Leading yesterday’s falls was the Spanish IBEX 35 Index, which closed down almost 7pc at 9314.70. The euro tumbled 1.5 cents against the dollar, dropping... »

By Edmund Conway TelegraphUK May 14th, 2010 Earlier this week, the Bank of England Governor, Mervyn King, irked US authorities by pointing out that even the world’s economic superpower has a major fiscal problem -“even the United States, the world’s largest economy, has a very large fiscal deficit” were his words. They were rather... »

TC member unwittingly tells We Are Change activist of plans for world government Paul Joseph Watson Prison Planet.com Friday, May 14, 2010 Trilateral Commission member Mikhail Slobodovsici, a chief adviser to the Russian leadership, unwittingly provided a revealing insight into the plans of the global elite during the group’s recent meeting in Dublin Ireland,... »

Radley Balko Reason.com Columbia, Missouri Police Chief Ken Burton is apparently frustrated. At another press conference yesterday, a reporter asked the chief what he has learned from the international attention generated by the YouTube video of his department’s SWAT team conducting a drug raid last February. His reply: “I hate the Internet.” I’ll bet... »

By James G. Neuger Bloomberg.com May 14 (Bloomberg) — Romano Prodi recalls how he persuaded Germany to allow debt-swamped Italy into the euro: support our membership and we’ll buy your milk, he said. When Prodi toured Germany’s agricultural heartland after becoming Italian leader in 1996, he pitched “a big milk pipeline from Bavaria,” pointing... »

By Alan Caruba CapitolHillCoffeeHouse.com It is almost beyond comprehension that Sen. John Kerry (D-MA) and Sen. Joseph Lieberman (I-CT) will introduce the Cap-and-Trade Act on Wednesday, May 12th, for consideration by the Senate. It is being passed off as a “climate bill” with provisions for more oil drilling, but it is an assault on... »

Colin Barr CNNMoney.com When does a big market rally spell doom for stocks? Right now, says one bearish commentator. Gluskin Sheff economist David Rosenberg says in a note to clients Thursday that it’s time to “take chips off the table.” He says stocks have risen too far, volatility is rising and the economy remains... »

Portugal is to impose fresh austerity measures to cut the budget deficit and regain the confidence of bond markets, becoming the fourth country on the eurozone periphery to tighten fiscal policy before a durable recovery is underway. By Ambrose Evans-Pritchard TelegraphUK Socialist premier Jose Socrates aims to cut the deficit by an extra 1pc... »

Sarkozy demanded ‘a compromise from everyone to support Greece … or France would reconsider its position in the euro’, according to Spanish newspaper El País Giles Tremlett and Richard Wray Guardian.co.uk Friday 14 May 2010 French president Nicolas Sarkozy threatened to pull his country out of the euro if other EU countries, especially Germany,... »