Archive for June 28th, 2010

By Greg Hunter USAWatchdog.com 28 June 2010 The much awaited financial reform bill was finished up in an overnight marathon House and Senate committee session last week. Now, the full Congress will most likely pass the final bill and send it to the President. This bill came about as a result of the near... »

Gargantuan move against Internet freedom accelerates into high gear Paul Joseph Watson & Alex Jones Prison Planet.com Monday, June 28, 2010 The move to shut down and regulate the Internet under a new government-controlled system has accelerated into high gear with the announcement that the government’s cybersecurity strategy revolves around issuing Internet users with... »

by Sol Palha FinancialSense.com June 28, 2010 Advice is what we ask for when we already know the answer but wish we didn’t. Erica Jong The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest... »

by Thomas P. Au, CFA FinancialSense.com June 28, 2010 Most people breathed a sigh of relief as the economic crisis of early 2009 came and went. Another Great Depression had been avoided, or so people thought. After they got over their initial, late 2008 shock, the U.S. Treasury Department and Federal Reserve Bank got... »

FloridaOilSpillLaw.com Tropical Storm Alex may become a major hurricane as it churns toward the Texas-Mexico border forcing the evacuation of some rigs and sending swells at the oil slick created by the U.S.’s worst spill. The storm may grow into at least a Category 3 system, with minimum winds of 111 mph (178 kph),... »

George Altman AL.com June 28, 2010 Countless patches of light oil sheen moved into waters north of the barrier islands of Alabama and Mississippi on Sunday, as brown and orange blobs washed ashore from Orange Beach to as far west as Ocean Springs. Boats worked to corral iridescent sheen just north of Dauphin Island’s... »

By PAUL KRUGMAN NYTimes.com Recessions are common; depressions are rare. As far as I can tell, there were only two eras in economic history that were widely described as “depressions” at the time: the years of deflation and instability that followed the Panic of 1873 and the years of mass unemployment that followed the... »

Financially struggling homeowners say they’re just being shrewd when they file for Chapter 7 to escape a mortgage By Mary Ellen Podmolik ChicagoTribune.com Cash-strapped, jobless and denied a loan modification, Del Phillips faced the same straits as millions of homeowners who risk losing their homes to mortgage lenders. Some have struggled unsuccessfully to keep... »

NakedCapitalism.com This blog warned a few weeks ago of a coming campaign by the officialdom against so-called “strategic defaulters”. It has arrived even sooner than we expected. This blog warned a few weeks ago of a coming campaign by the officialdom against so-called “strategic defaulters”. It has arrived even sooner than we expected. We... »

by Richard Daughty LewRockwell.com A whole series of alarms occurred after I got the news, although I lost the source, that “food stamp usage just soared to a new record high” of 40.2 million persons. This number is alarming in itself because it means that the economy is so bad that more and more... »