Financial News Update – 05/03/10

Police & Fire Monopoly-Bargaining Act (Hat Tip: Nancy Jacques)

New Hertz Ad Says ‘BUYCOTT ARIZONA!’

Faber: China Will Crash Within a Year (Hat Tip: Jean Stoner)

Goldman Sachs Reveals it Shorted Gulf of Mexico (Hat Tip: Jean Stoner)

Left sees chance to beef up bank bill

VIDEO: GM Repaid Taxpayers with Tax Dollars

More Inconvenient Obamacare Truths

When 14=12, and Other Fun Facts

After the IMF Bails Out Europe, the U.S. May Have to Bail Out the IMF (read & weep) (Hat Tip: Jean Stoner)

Biden: We’re In A “Depression” (Hat Tip: Jean Stoner)

Greece Gets $146 Billion Rescue in EU, IMF Package (Update1) (Hat Tip: Jean Stoner)

The Price of Obamacare, or The Full Faith and Credit Card (Hat Tip: Jean Stoner)

Fed Transcripts: Bernanke Soft on Inflation

China Moves to Cool Overheating Economy

Inflation up 2% in March



Wall St overhaul bill to give control of the internet to FTC?

‘Vitamin bill’ sneaked into Wall St Reform legislation?

TRUCKS: FORD April sales up 25 percent

GM Sales Up 6.4 Percent in April


Note the fait accompli tone of this NPR article that of course inevitably leads to the conclusion that there will be either massive tax increases, or mass inflation in the near future: The Federal Debt: How To Lose A Trillion Dollars.

Treasury Redeems A Gargantuan $643 Billion in Treasuries in April.

Want a good belly laugh? If so, then read this item from Chad S.: Corporations ride a consumer spending spree to better earnings as recovery gains steam. Here is Chad’s favorite absurd quote from the article: “We¹re out of the woods for good, says Joseph LaVorgna, chief U.S. economist at Deutsche Bank. This is no just an arithmetic story. It¹s a story of legitimate growth.” JWR Adds: All this “recovery” talk at present is utter nonsense, triggered by short term stimulus money. The end result will be no real recovery and mountains of compounding debt.

European debt crisis looms over meeting.

Another Look at Derivatives

Goldman Whack-A-Mole

Roubini: In a Few Days’ Time There Might Not be a Eurozone for Us to Discuss

US Food Inflation Spiraling Out of Control

Rising Federal Debt Found to Cause Alien Intestinal Syndrome (The Mogambo Guru)

The Dominoes are Lining Up for a Sovereign Debt Crisis

Banks Closed in Puerto Rico, Michigan, Missouri, Washington

GDP Rise Not Enough to Make Dent in Jobless Rate

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