From Jenna Orkin et al.
This confirms that Spain is now infected. -- MCR
This was only the beginning... worldwide. -- MCR
*Two-thirds of the world's people in the cities? Ain't never gonna happen. -- Rice Farmer
Shit... beware of everything. -- MCR
*Yawn... All these FTAs mean nothing because globalization is dead.
The United States is drawing a clear battle front. It is indicating it will contest the region with China. From a military standpoint I have never really seen South Korea as anything other than Japan's protected left flank. It's either going to be over Japan or Europe that the nukes will come out eventually unless something changes. -- MCR
$1 trillion wasn't enough. we'll just print some more. -- MCR
This may be the run to $100 oil. -- MCR
Seems we've heard this somewhere before. -- MCR
"No more of this 'take huge amounts of money from European taxpayers so that bondholders get 100 cents on the dollar' garbage. Instead, we’ll need to see actual haircuts in the value of European sovereign bonds." -- Hell. Make ‘em look like Marines. -- MCR
"... will its allure last as fears over the economy ease?"... Man, I don’t know what drug they're on but I'm not sure I want it. -- MCR
"For now it is a trickle. Soon, it will be a flood." -- MCR
"At the depths of the worst foreclosure crisis since the Great Depression, we are surprised that the Fed has proposed rules that would eviscerate the primary protection homeowners currently have to escape abusive loans and avoid foreclosure: the extended right of rescission." -- I wasn't sure that homeowners had any protections left anyway. But this is pretty in your face nasty. -- MCR
"The Fed's proposal to amend a 42-year-old provision of the federal Truth in Lending Act has angered labor, civil rights and consumer advocacy groups along with a slew of foreclosure defense attorneys."
Read more: http://www.mcclatchydc.com/2010/12/01/104568/fed-wants-to-strip-a-key-protection.html#ixzz17G866WfG
Another hilarious video from Xtranormal. Spot on as usual. Very funny. -- MCR
I guess someone was listening. -- You can still buy from local coin dealers. -- MCR
That's where everyone's going to be running soon enough. And that will ultimately force a showdown of paper gold vs. actual physical gold. -- MCR
"Greece and Ireland are insolvent. Spain, Portugal, and Belgium are under severe stress. The proper way to alleviate the stress is to admit a need for haircuts on senior bonds, and take those haircuts." -- MCR
As I've said before, the Dow is now almost a perfect misery index. -- MCR
Is your city here? -- MCR
In other words, cities want to rush into shale gas fracking, the destruction of water tables and the poisoning of their citizens in order to make a very little cash... I don’t have words. -- MCR
I wonder how insane it can get. Who's going to buy the bonds?... Why the Fed of course. – MCR
Bracing is right. -- MCR
"Over the lifecycle of the PDCF program, The Federal Reserve lent a total of about $8.95 trillion to primary dealers of government securities. (This group is already a very small club: Currently, the New York Fed lists a total of 18 institutions authorized to perform this function.)
"But the concentration of the vast majority of PDFC funds was far narrower than that. Institutions that ultimately went on to become just six banks—Bank of America, Citigroup, Morgan Stanley, Barclays, Goldman Sachs, and JPMorgan—received at total of about $8.78 trillion through the PDFC program."
Gee, $9 Trillion to the same institutions that are now robbing American homeowners blind with fraudulent documents, kangaroo courts, and judges on the payroll. -- MCR
That's right. Need cash? Just sentence some people to death and see to it that the water coming out of their tape is both poisonous and flammable. -- MCR
Not for long. -- MCR
"Homes in Ireland's most expensive street have been abandoned and their residents have run for the hills."
Gridlock is approaching. -- MCR
Like I said, if everybody's borrowing, who's lending? -- MCR
This is about as clear as it can get. With tax cuts blocked and stalled, tied to an impossible extension of unemployment’s benefits, the time is near when emergency extensions can't possibly be passed. -- MCR
Like I've been saying for years, it costs real money to put people in jail, feed them and keep them warm. – MCR
Everything's being tested, looking for weak spots. -- MCR
Really makes you wonder how bad things are in the east if refugees are now fleeing into Europe. --MCR
"The Chinese are ready to spend $511 billion to build up to 245 reactors."
There are some friendlies out there. Yahoo!
"As recently as Monday, the Food Safety Modernization Act (S. 510) seemed set to sail through the House and to the president's desk for rubber-stamping. But now it's stalled in the Senate yet again, due to a technical error that could well sink the legislation -- and with it any prospects for food-safety reform for a generation. While advocates fight for the bill's life amid the chaos of the lame-duck Senate, renewed opposition to S. 510 is popping up in some surprising corners." -- MCR
These are the "excess deaths" I talk about all the time. -- MCR
*How many will actually be built? -- Rice Farmer
"The warning came as power companies reported that electricity and gas demand across Britain was surging to near record levels, with electricity up 10 per cent year on year and gas up by nearly a third on this time last year."