The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday
http://www.bloomberg.com/apps/news?pid= ... refer=home
It pains me deeply to announce that, despite the massive government rescue, yesterday’s collapse of Citigroup could ultimately lead to a shutdown of the global banking system.
http://www.globalresearch.ca/index.php? ... &aid=11147
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23rd November
watch what happens when the truth comes out. Ridicule. How someone could watch this clip and not see what is happening with market manipulation is beyond me. Its like a midget dressed in luminous tights hitting you over the head with a lead space hopper.
http://www.cnbc.com/id/15840232?video=931599105
Yields on speculative-grade corporate bonds surpassed 20 percent for the second straight day as a declining economy increased the risk of default.
http://www.bloomberg.com/apps/news?pid= ... refer=home
The Latest Bear Market Sucker’s Rally Has Gone Bust as We Are Headed Towards Stag-Deflation
http://www.rgemonitor.com/roubini-monit ... -deflation
The Deadly Dirty D-Words: “Deflation”, “Debt Deflation” and “Defaults”. And How Central Banks Will Have to Resort to “Crazy” Policies as We Have Reached Such Bermuda Triangle of a “Liquidity Trap”
http://www.rgemonitor.com/roubini-monit ... idity_trap
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20th November
Some fear a loss of GM, Ford and Chrysler would take U.S. into another depression. Even if that doesn't happen, a major auto failure would clearly hurt.
http://money.cnn.com/2008/11/20/news/gm ... 2008112015
Citigroup stock drops to 13-year low, fear grows
http://www.reuters.com/article/ousiv/id ... 19?sp=true
Deflation looms as next challenge on horizon
http://www.guardian.co.uk/business/feedarticle/8044200
the high cost of capital is going to be one more reason for enormous downward pressure on the economy.
http://krugman.blogs.nytimes.com/2008/1 ... borrowing/
The Latest Bear Market Sucker’s Rally Has Gone Bust as We Are Headed Towards Stag-Deflation
http://www.rgemonitor.com/roubini-monit ... -deflation
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18th November
IMF says more countries seek help, banks struggle
http://www.reuters.com/article/newsOne/ ... 18?sp=true
A lack of physical bullion supply at the same time of extremely strong demand for popular small bullion items coupled with artificially low futures dominated spot prices for gold and silver resulted in extraordinarily high premiums for virtually all bullion products in October. The very high premiums continue and availability remains tight.
http://www.resourceinvestor.com/pebble.asp?relid=47994
Bounced Checks, Overdrafts and ATM Use All Cost More; Penalizing Repeat Offenders. Banks are responding to the troubled economy by jacking up fees on their checking accounts to record amounts.
http://finance.yahoo.com/banking-budget ... cord-Highs
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16th November
HUGE PUTS BEING PLACED ON CITIGROUP
http://online.barrons.com/article/SB122 ... es_weekend
GM failure: The shockwave
If General Motors declares bankruptcy, industry watchers say, the entire domestic auto industry could be badly hurt.
http://money.cnn.com/2008/11/14/autos/a ... 2008111412
WASHINGTON (AP) -- Hardline opponents of an auto industry bailout branded the industry a "dinosaur" whose "day of reckoning" is near, while Democrats pledged Sunday to do their best to get Detroit a slice of the $700 billion Wall Street rescue in this week's lame-duck session of Congress.
http://finance.yahoo.com/news/Showdown- ... 87885.html
Our Economy May Be in a Death Spiral -- Will Washington Stop the Bleeding?
By Joshua Holland, AlterNet. Posted November 15, 2008.
http://www.alternet.org/workplace/10699 ... ng/?page=1
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15th November
Nouriel Roubini warns of food riots
"Everyone along the supply chain should worry about their jobs. Many will lose their jobs sooner rather than later.
If cargo trade stops, the wheat doesn’t get exported. If the wheat doesn’t get exported, the mill has nothing to grind into flour. If there is no flour, the bakeries and food processors can’t produce bread and pasta and other foods. If there are no foods shipped from the bakeries and factories, there are no foods in the shops. If there are no foods in the shops, people go hungry. If people go hungry their children go hungry. When children go hungry, people riot and governments fall."
http://www.rgemonitor.com/financemarket ... d_old_days
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14th November
"The economy faces a slump deeper than the Great Depression and a growing deficit threatens the credit of the United States itself, former Goldman Sachs chairman John Whitehead, said at the Reuters Global Finance Summit on Wednesday."
http://www.reuters.com/article/Finance0 ... HT20081112
"Troubled US carmakers GM and Ford have been given a potentially devastating vote of no confidence by three big European credit insurers, which have removed cover from their suppliers."
http://ftalphaville.ft.com/blog/2008/11 ... suppliers/
"By most accounts the US economy is in serious trouble. Robert Reich, an adviser to President-elect Obama, calls it a “mini-depression,” and that designation might be optimistic. The Russian economist, Mikhail Khazin says that the “US will soon face a second ‘Great Depression.’” It is possible that even Khazin is optimistic."
http://www.economyincrisis.org/articles/show/2069
"World will struggle to meet oil demand
By Carola Hoyos and Javier Blas
Published: October 29 2008 02:00 | Last updated: October 29 2008 02:00
Output from the world's oilfields is declining faster than previously thought, the first authoritative public study of the biggest fields shows.
Without extra investment to raise production, the natural annual rate of output decline is 9.1 per cent, the International Energy Agency says in its annual report, the World Energy Outlook, a draft of which has been obtained by the Financial Times."
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13th November
an interesting bit of news today.
http://www.forbes.com/afxnewslimited/fe ... 87986.html
French President Nicolas Sarkozy said on Thursday ahead of the G20 meeting of world leaders:
"I am leaving tomorrow for Washington to explain that the dollar cannot claim to be the only currency in the world..., that what was true in 1945 can no longer be true today".
watch this weekend for the sh*t to go down (maybe) if oil stops being traded in $$ then all hell is going to break loose
oh and this
http://uk.youtube.com/watch?v=46MEqEgdLTg
