Archive for July 11th, 2010

by Murray N. Rothbard LewRockwell.com What the State Is Not The State is almost universally considered an institution of social service. Some theorists venerate the State as the apotheosis of society; others regard it as an amiable, though often inefficient, organization for achieving social ends; but almost all regard it as a necessary means... »

by Tyler Durden ZeroHedge.com 07/10/2010 Sometimes, when chasing the bouncing ball of fraud and corruption on a daily basis, it is easy to lose sight of the forest for the millions of trees (all of which have a 150% LTV fourth-lien on them, underwritten by Goldman Sachs, which is short the shrubbery tranche). Luckily,... »

Chink in the Armor.net 11 Jul 10 There ain’t no money in being productive. The only money to be made is in feasting upon the carcass of this once great nation. Seriously. Think about it. What sector of the economy is making serious money right now? The banking industry. And how do they make... »

by Mike Whitney Global Research July 10, 2010 The EU banking system is in big trouble. Many of the Union’s largest banks are sitting on hundreds of billions of euros in dodgy sovereign bonds and non performing real estate loans. But writing down their losses will deplete their capital and force them to restructure... »