Economy
America’s Richest Counties (Washington D.C. Suburbs Top The List)
The country’s fattest paychecks are brought home to these high-end suburbs.
The country may have started its long haul back to economic recovery — if recent news that consumer spending increased slightly in January is any indication. But even so, most Americans still aren’t ready to brag about their paychecks.
Except, perhaps, in Loudoun County, Va., […]
Organized crime: The ‘looting’ of $11 trillion from the U.S. economy
The following is based on a report by Cliff Kincaid for Accuracy in Media.
The New York Times is quoting a spokesman for George Soros as saying that the well-known hedge fund operator is guilty of no wrong-doing in connection with the financial upheaval currently affecting Greece and Europe as a whole.
But Zubi Diamond, author of […]
Economists Warn Another Financial Crisis On the Way
Even as many Americans still struggle to recover from the country’s worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators.
In the report, the panel, that […]
US senator warns of ‘financial meltdown’ risk (Don’t worry, Liberals will continue to Tax and Spend)
The US is heading for a debt-driven “financial meltdown” within five to seven years, according to Judd Gregg, the outgoing Republican senator for New Hampshire.
In a robust and at times testy video interview for the Financial Times’s View from DC series, Mr Gregg also complimented China for showing rising alarm about the US’s mounting levels […]
Jobless claims up 12% in past 2 weeks (Welcome to Obama America)
The number of Americans filing for initial unemployment insurance surged to just below the 500,000 level last week, and have climbed more than 12% over the past two weeks, the government said Thursday.There were 496,000 initial job claims filed in the week ended Feb. 20, up 22,000 from a revised 474,000 the previous week, the […]
SHOCKING REPORTS: CITIGROUP Warns Customers It May Refuse To Allow Withdrawals
The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days.
“Effective April 1, 2010, we reserve the right to require (7) […]
32.8 Million Americans Are Now on Food Stamps - Set Ever-higher Record (One out of 10 Americans is on food stamp)
A record 38.2 million Americans were enrolled in the food stamp program at latest count, up 246,000 from the previous month and the latest in record-high monthly tallies that began in December 2008.
Food stamps are the primary federal anti-hunger program, helping poor people buy groceries. The Agriculture Department updated enrollment data on Friday with a […]
Economic Report: Jobless claims at highest since mid-December
First-time filings for state unemployment benefits climbed to their highest level since mid-December last week, defying the forecasts of economists who had expected a sharp downturn, government data showed Thursday. For the week ended Jan. 30, initial claims rose 8,000 to stand at 480,000, according to the Labor Department.
Read the whole story at MarketWatch.com
Barney Frank:Fannie Mae, Freddie Mac Should Be Eliminated
By NICK TIMIRAOS And MICHAEL R. CRITTENDEN
A top House Democrat on Friday said his committee was preparing to recommend “abolishing” mortgage-finance giants Fannie Mae and Freddie Mac and rebuilding the U.S. housing-finance system from scratch.
“The remedy here is…as I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form […]
Obama America: Couple found dead hours before foreclosure auction (Hope and Change)
Police believe a man facing a foreclosure auction yesterday took his own life after shooting his sick wife, shooting their horse, setting fire to the home they shared and torching his pickup truck.
(Excerpt) Read more at telegram.com …