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Global Economy Bursting?

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Restrain said:
NY Attorneys are preparing to sue for hundreds of Billions in the Libor rate-fixing scandal
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Excellent.
Don't worry, they'll find lots of American Companies to sue as well, not to mention the FACT that the Fed's Mr. Bernanke was well aware of what was going on.
Know what I mean, Eh? Wink Wink Nudge Nudge
 
San Bernardino, California, Weighs Chapter 9 Bankruptcy

http://www.bloomberg.com/news/2012-07-11/san-bernardino-california-weighs-chapter-9-bankruptcy.html

San Bernardino may become the third California city in two weeks to file for municipal bankruptcy protection, as it struggles with declining tax revenue, growing employee costs and ill-timed public-works projects.

The City Council is to consider authorizing the city attorney to file a Chapter 9 petition at a meeting late today, said Gwendolyn Waters, a spokeswoman. A decision was possible tonight, though unlikely, she said.
 
The masculinity in Putin is sorely needed in the US

Lately they keep posting images of Putin on media outlets that show Putin as a Man.

Not this feminized crap we have with Obama and Romney.

At best Obama is a "closet" martinet.

Romney is the male art form that goes through life in a emotionally muffled state.

Fact is I can not remember a real man's man guy in Washington.

No wonder we got problems.
 
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San Bernardino, California to file for bankruptcy

http://www.washingtonpost.com/busin...r-bankruptcy/2012/07/11/gJQAS2BwcW_story.html

San Bernardino’s City Council voted to become the third California city this year to file for bankruptcy, as it struggles with declining tax revenue, growing employee costs and accounting discrepancies in its ledgers.

“If the employees are not paid on Aug. 15, on Aug. 16 there will be a mass exodus of city employees,” City Attorney James Penman told the council before the vote. “People are not going to work when they don’t get paid. Most of our employees will not show up to work. That would include police, fire, refuse, everybody. The city will virtually shut down.”

The city and its agencies have $243 million of debt outstanding, including $48.6 million of taxable pension- obligation bonds, according to financial statements. Per-person debt was $1,506, or 5.4 percent of personal income.
 
The forecast is that come January 2013, all taxes will go up; Bush tax cuts expire, AMT fix expires, etc.

It will take a majority in both houses and the presidency of one party to settle this. If that does not happen, it is autopilot to destruction.
 
Randolph Kinney said:
The forecast is that come January 2013, all taxes will go up; Bush tax cuts expire, AMT fix expires, etc.

It will take a majority in both houses and the presidency of one party to settle this. If that does not happen, it is autopilot to destruction.
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Happened before, taxes raised during "the depression".
Just means we will sink again, then rise again.
Good time to buy stocks and such if you happen to have money for more than beans &/or ammo to get the beans.
Oh, wait, after tax rise during great depression, we came back because we went to war.
Well, there are handy hot spots all over the globe.
What does anyone think, will this be called The Greater Depression, The Worldwide Mood Disorder, or.......... ?
/
 
The market was a stick in the mud yesterday, but anyone notice the builders stocks and how they did in the intradays moves? They had bullish moves, they may know something of some kind of good news. But we will see today how the market reacts to outcoming data.
 
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