Financial News Update – 01/31/10

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OBAMA FINDS $20B IN CUTS

Swiss warn UBS bank could collapse

Watchdog: Catastrophic Financial Meltdown Looms

Obama Jobs Program Could Cost $100 Billion

Fox Business: TARP Watchdog Eyes Pay Czar

Obama to Propose $3.8 Trillion Budget

No-Bid Contract ‘Violates’ Obama Campaign Pledges

SurvivalBlog:

An Insider’s View of the Real Estate Train Wreck, by David Galland, The Casey Report

Wealth Preservation, Investing, and Prepping in 2010.

U.S. Economy Grows 5.7 Percent in Fourth Quarter of 2009. JWR Adds: They’re calling it a “recovery”? That is laughable. I call it nothing more that the effect of many hundreds of billions of dollars in short term stimulus. Keep in mind that this will effectively be paid for with money borrowed from my children’s generation. The current presidential administration has spent more than $3.5 trillion, and much of that went to “stimulus.” And all that got was just 5.7% in growth? I suspect that the real underlying economy is actually heading into a depression that will last a decade or more. If you look at the job numbers minus the stimulus-generated make-work jobs, the government’s sleight of hand is apparent.

Secret Banking Cabal Emerges From AIG Shadows: David Reilly.

Energy Prices Fall So Far in 2010

Wages and Benefits Rise Weak 1.5% in 2009

Stocks Have Dismal January, Bad Omen for 2010?

Bernanke Confirmation Means Fed Independence. He was reconfirmed by the narrowest margin in congressional history.

Weak Greece Could Drag Down Weak Eurozone

Asian Stock Markets Fall on Greece Debt Fears

Growing Shares of Americans’ Income Comes From Government

Geithner Accused of Incompetence Over His Role in AIG Bailout

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