Archive for June 2nd, 2010

TheEconomicCollapseBlog.com The summer of 2010 promises to be the most tumultuous summer in the short history of the European Union. The sovereign debt crisis sweeping the continent threatens to cause economic and political instability on a scale not seen in Europe for decades. The truth is that governments across the eurozone have accumulated gigantic... »

TheEconomicCollapseBlog.com It is incredibly hard to put into words the absolute horror that is happening in the Gulf of Mexico right now. The millions of gallons of oil that have gushed into the Gulf of Mexico and BP’s efforts to fight the massive leak are turning the Gulf into a lifeless toxic stew of... »

Gulf states also begin to flee from collapsing single currency Paul Joseph Watson Prison Planet.com Wednesday, June 2, 2010 The Central Bank of Iran is set to dump a whopping 45 billion euros in exchange for gold bullion and dollars as Gulf states also prepare to flee from the ailing single currency amidst debt... »

by Mark Karlin Global Research June 2, 2010 If you were to draw an oily line from the first exploitation of oil in the Middle East by the British in 1901 (they were in the process of converting their then world dominating naval fleet from coal to oil and were in desperate need of... »

TruthDig.com Fake news by Andy Borowitz WASHINGTON—At a conference of oil leak experts in Washington today, attendees proposed plugging the massive oil leak in the Gulf of Mexico with executives of BP, the company responsible for the catastrophic spill. “We’ve tried containment domes, rubber tires and even golf balls,” said William Cathermeyer of the... »

By MICHAEL COOPER NYTimes.com Procrastination is no longer just for the taxpayers who wait until the last moment to file their tax returns. Thanks to the economic downturn, at least a half-dozen cash-poor states are now delaying their tax refund checks. Hawaii initially planned to delay all tax refunds until July, when its fiscal... »

USAToday.com NEW YORK (AP) — Citigroup (C) is closing 330 branches of its U.S. consumer finance business as part of a restructuring aimed at finding a buyer for the unit, the bank said Tuesday. The branch closures at CitiFinancial will result in about 500 to 600 job cuts across 48 U.S. states, the bank... »

StrategyPage.com June 1, 2010: Israel is stationing three of its five Dolphin class submarines in the Red Sea, and will keep one of them operating off the Iranian coast at all times. These subs will be armed with cruise missiles (equipped with nuclear warheads). Last year, Israel has received two more German built Dolphin... »

by Charles Glass TakiMag.com June 02, 2010 The financial geniuses who caused, yet failed to predict, the world’s financial collapse are not doing much yet to avoid another crash. Given that I didn’t predict it either, I am as qualified as they are to propose “the way out.” Tim Geithner, Larry Summers, and many... »

The Rolling Thunder rally started as a government-skeptical gathering of Vietnam vets protesting Congress’s disregard for POW’s and MIA’s left behind. But over the years, many of the vets have become more critical of war skeptics too squeamish to send more troops to kill and die than the politicians who say we need to... »