Archive for July 29th, 2011

by Brandon Smith ZeroHedge.com 07/29/2011 As we look back on the horrors of the dictatorships and autocracies of the past, one particular question consistently arises; how was it possible for the common men of these eras to NOT notice what was happening around them? How could they have stood as statues unaware or uncaring... »

The Intel Hub Shepard Ambellas July 29. 2011 The U.S. debt is totally out of control — now sitting at $14.3 Trillion, raising the debt ceiling will only buy a little more time until a massive crash takes place and total chaos ensues (economic and physical), a total fall of the republic. The agenda... »

by Jim Quinn ZeroHedge.com 07/29/2011 “There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency... »

Washington’s Blog July 29, 2011 Economist Dean Banker notes: Wall Street will suffer more than anyone from a default and it will not let it happen. The public should know this, certainly Wall Street does. No wonder the fatcats running the giant banks which received tens of trillions in bailouts, loans and guarantees from... »

A chorus of global banks has warned that Washington risks triggering a global slump and may suffer permanent loss of credibility by flirting with default on America’s $14.3 trillion (£8.8 trillion) federal debt. By Ambrose Evans-Pritchard Telegraph.co.uk The dangers are almost as great if the US fails to lift the debt ceiling and avoids... »

By Howard Gold SeekingAlpha.com It’s been a hot summer, and it’s been even hotter in Washington, D.C., where Democrats and Republicans have been burning down the House with a pitched battle over the debt ceiling, the cap that Congress puts on the national debt. Usually it’s a mundane bit of legislative business barely worthy... »

• Jefferson County, Alabama, poised to default on loans • Downgrade threat to Maryland, New Mexico, South Carolina, Tennessee and Virginia By Phillip Inman Guardian.co.uk Thursday 28 July 2011 Alabama’s Jefferson County was last night poised to become the largest municipal bankruptcy in US history after a three-year battle with creditors over a $3.2bn... »

by Washington’s Blog Global Research July 29, 2011 As I’ve pointed out for years, the Bank for International Settlements (BIS) is owned by the world’s central banks, which are in turn owned by the big banks. See this and this. It turns out there may be a very interesting wrinkle to the private ownership... »

by Larry Chin Global Research July 29, 2011 The grotesque political carnival gripping Washington is being referred to as a “debt crisis”. But the debt and the looming default of the United States are merely symptoms of the wider calamity that remains deliberately unaddressed. This is a global collapse: the death and controlled demolition... »

by Dr. Paul Craig Roberts Global Research July 29, 2011 With the world concerned about US financial credibility and the poor outlook for the US economy, now is not the time for the Republicans to grandstand on the public debt. The debt ceiling needed to be quietly raised. Instead, the Republicans started a fire... »