Economic
U.S. to spend $100 million on Afghan bases
UPI.com The Pentagon says it plans to spend $100 million on air base expansions in Afghanistan with construction efforts continuing into at least 2011. Despite growing disaffection with the war and President Obama’s pledge to begin withdrawing U.S. troops in July 2011, many of the projected installations have extended completion deadlines, The Washington Post reported [...]
U.S. Is Bankrupt and We Don’t Even Know It: Laurence Kotlikoff
Laurence Kotilkoff | Bloomberg.com Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills. What it can and must do is radically simplify its tax, health-care, retirement and financial systems, each of which is a complete mess. But this is the good news. It means [...]
Why You are Unemployed – Part 2
Stefan Molyneux | Freedomain Radio.com The death of the middle class, and the real purpose of government education… Sources: http://www.fdrurl.com/un2
Freddie Mac says needs $1.8 billion from taxpayers
Corbett Daly | Reuters.com The second largest U.S. residential mortgage funds provider reported a loss of $6.0 billion, or $1.85 per diluted share, in the second quarter, including a $1.3 billion dividend payment to the government. That compares with an $8.0 billion loss in the prior quarter and is the best three-month performance in a [...]
Chart reveals insanity of new health care bill
Ethan Huff | Natural News.com Representative Kevin Brady (R-TX) and Senator Sam Brownback (R-KS) have put together a new visual chart that helps illustrate the complexity of the recently-passed U.S. health care “reform” bill. The highly-complex organizational chart, which is blanketed in bubbles and lines branching from the Secretary of Health and Human Services, represents [...]
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IMF document illustrates plan to raise global currency
Stephen Webster | Raw Story.com It’s no secret that many of the world’s largest industrialized nations are somewhat eager to ease their reliance on the U.S. dollar. For months China and Russia have pushed ever subtly, for a new “global reserve currency,” to give governments around the world enhanced economic stability in the event of [...]
Google-Verizon Deal: The End of The Internet as We Know It
Josh Silver | Huffington Post.com For years, Internet advocates have warned of the doomsday scenario that will play out on Monday: Google and Verizon will announce a deal that the New York Times reports “could allow Verizon to speed some online content to Internet users more quickly if the content’s creators are willing to pay [...]
“Let Them Eat Cake”: A handful of oligarchs are becoming billionaires while the rest of the country goes down the drain
Paul Craig Roberts | Global Research.ca It is not unusual for members of the diminishing upper middle class to drop $20,000 or $30,000 on a big wedding. But for celebrities this large sum wouldn’t cover the wedding dress or the flowers. When country music star Keith Urban married actress Nicole Kidman in 2006, their wedding [...]
China to invest $40 billion in Iranian oil and gas
Agence France Press | Raw Story.com Iran’s main economic partner China has invested around 40 billion dollars in the Islamic republic’s oil and gas sector, a senior Iranian official said on Saturday. Deputy Oil Minister Hossein Noqrehkar Shirazi also said that Tehran’s oil exports to China fell by 30 percent in the first six months [...]
Alan Greenspan warns that US could be heading for double-dip recession
Roland Gribbon | Telegraph.co.uk Amid worries about a slowdown in economic recovery, Mr Greenspan said: “We’re in a pause in a recovery, a modest recovery but a pause in the modest recovery feels like a quasi-recession.” Questioned on NBC’s Meet the Press programme about whether the US could slide into another recession he said: “It [...]
