Global Economy Bursting?

[Randolph Kinney]

California Deficit May Reach $28 Billion as IOUs Loom

http://www.bloomberg.com/news/2010-...h-28-1-billion-over-18-months-brown-says.html

Who could have known?

 

[Randolph Kinney]

Food Stamp Rolls Continue to Rise

http://blogs.wsj.com/economics/2010/12/08/food-stamp-rolls-continue-to-rise/

California has 3,466,974 people on food stamps, a 17.7% increase over last year. The guesstimate of total population is 37,238,114 as of December or almost 10% of the population is on food stamps. Some economy for the "golden state".

 

[Randolph Kinney]

The Economic Incompetence Of The Political Class

http://www.forbes.com/2010/12/06/ec...arles-kadlec.html?boxes=opinionschannellatest

Elected officials engage in reckless and irresponsible management of their economies, which in good times is no problem. In bad times, the price to be paid for that incompetence is severe on the public and investors.

 

[Randolph Kinney]

Websites have been secretly harvesting lists of places that their users previously visited online

http://news.yahoo.com/s/ap/20101205/ap_on_hi_te/us_tec_internet_visits_exposed

Nothing new, just that the government is collecting your habits.

 

[Austin]

Student protests in London turn violent...

Thousands try to break through police barricades at Houses of Parliament...

Attack car containing Prince Charles, Camilla...

First blood of the revolution shed this date!

 

[Randolph Kinney]

Global bond rout deepens on US fiscal worries

http://www.telegraph.co.uk/finance/...l-bond-rout-deepens-on-US-fiscal-worries.html


The world is expressing its concern over the U.S. that it is losing control of events. U.S. fiscal policy is out of control. The U.S. Treasury paper sell off has ricocheted through the global system, triggering bond sell offs in Asia, Europe and Latin America.

If global yields are rising because people think Amirca's fiscal situation is unsustainable, then it is Armageddon. The financial problems will become acute in the U.S. in the second half of 2011. The U.S. fiscal situation is much worse than in Europe. America's budget deficit will remain stuck near 10% of GDP and once the debt reaches 110% of GDP under the IMF definition, the U.S. will move past the brink of a debt compound spiral with rising interest rates.

The train wreck has arrive, brace yourself and take your crash positions.

 

[Randolph Kinney]

$9 trillion in home equity lost since real estate market peak

http://www.thetruthaboutmortgage.com/9-trillion-in-home-equity-lost-since-real-estate-market-peak/

How poor are we? America's savings and its wealth was in the housing market.

 

[Austin]

I have often wondered why pundits were incapable of answering a question with a simple yes or no. Well I finally heard that answer today. Fox was interviewing the past VP of the Texas FED. Question: Don't you think Bernekie is losing control of the situation and the situation is spiraling out of control ? Answer: Yes! That was his answer. No more no less.

 

[AnonApprsr]

This article marks a milestone in the decline of the US Progressive political/economic Model.....
http://www.cnn.com/2010/US/12/08/space.flight/index.html?section=cnn_latest

I read that when it was published online, and it makes me sad. GWB had NASA right.

A healthy NASA leads to/benefits:

US Image in the World
US Technology Lead in the World
US Military Lead in the World

It's pathetic that we rely on Soyuz capsules to get our brave 'nauts to space. And I didn't even grow up during the "space race." I can imagine how despondent it must feel to go from that glorious time in our country's history, to now.

 

[Randolph Kinney]

Most Americans Say They're Worse Off Since Obama Took Office

http://www.bloomberg.com/news/2010-...they-re-worse-off-under-obama-poll-shows.html