Financial News Update – 05/27/10

Dow Soars 2 Percent as China Shows Confidence in Europe

New York Is Almost Out of Cash (Hat Tip: Nancy Jacques)

Rising ObamaCare Backlash Has GOP On Offense, White House Scrambling (Hat Tip: Nancy Jacques)

US money supply plunges at 1930s pace as Obama eyes fresh stimulus (Hat Tip: Brian B.)

Dems trim jobs bill to woo moderates

Obama to Suspend Arctic Oil Drilling Until 2011

U.S. Spending on Food Stamps at All-Time High, Sparking Debate Over Welfare

Morning Bell: This Congress Has No Shame

Should Pay Be Political?

Addressing BP’s Willingness to Pay for the Oil Spill

Gold Correction Factors, Hidden Dollar Swap Hammer (Hat Tip: Brian B.)

‘Glimmers of Hope’ for Grads (Hat Tip: Nancy Jacques) From Nancy: The 8 percent unemployment rate is lower than the nation’s overall 9.9 percent jobless rate, but it is high for college graduates, who typically have a lower unemployment rate than those without bachelor’s degrees. Mr. Nardone noted that for high school graduates under age 25 who did not enroll in college, the jobless rate was 24.5 percent last month, up from 11.4 percent in April 2007.


But the average salary offered to graduates with a bachelor’s degree has slipped 1.7 percent from last year, to $47,673.

Uncertainty Over Medicare Pay Sets Doctors on Edge (Obamacare — 21% pay cut) (Hat Tip: Jean Stoner)

First-quarter growth lowered (Hat Tip: Jean Stoner)

Weekly first-time jobless claims fall to 460,000, down 14,000 (Hat Tip: Jean Stoner)

Why I Don’t Trust Gold (Hat Tip: Jean Stoner)

Will Miami Declare Bankruptcy And Start A Nationwide Trend? (Hat Tip: Jean Stoner)

The Debt Won’t Be Passed Onto Our Grandchildren, Because The Crisis Is Coming MUCH Sooner (Hat Tip: Jean Stoner)

French unions strike to keep right to retire at 60 (Hat Tip: Jean Stoner)

What to Eat on a $17,600 Date With the President (Hat Tip: Brian B.)

Obama to Seniors: ‘Drop Dead’ (Hat Tip: Brian B.)

Economic rebound slowed last quarter

PAPER: This crash is worse than 2008

UPDATE: Debt crisis dark cloud over Europe

Euro approaches 4-year low vs dollar

NY Considers Huge New Millionaire Tax

Uncertainty over Medicare pay sets doctors on edge

House Democrats Scale Back Unemployment Bill


Roubini Predicts 20 Percent Stock Market Fall

25 Questions to Ask Anyone Who is Delusional Enough to Believe That This Economic Recovery is Real

Hyperinflation Guaranteed

Global Banks May Need $1.5 Trillion in Capital, Study Says

FDIC Closes on Sale of $233 Million of Notes Backed by Commercial Real Estate Loans

Economic Rifts Widen in Eurozone

European Cities On Edge of Debt Crisis

Roubini: He Said Bubble Would Burst, it Did, So What’s Next?

Danger In Numbers: The Decline of Paper Currency (The Mogambo Guru)

A Billionaire Goes All-In on Gold

UK: Banks Threaten New Recession Over Capital Ratios

Euro Crisis “Spells the End of Welfare States”

Commercial Foreclosures Pick Up Speed

Smart Money Holds Gold and Buys Major Miners

Why Silver Could Take Off Soon

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