Financial News Update – 05/31/10

This Bear Market Is Nowhere Near A “Buying Opportunity,” Says Rosenberg (Hat Tip: Jean Stoner)

Now Everyone Thinks The Market’s Going To Crash (Hat Tip: Jean Stoner)

Robert Prechter Long Stocks Bear Market Wave Down (Hat Tip: Jean Stoner)

The Looming Financial Holocaust, Massive Bearish Patterns Across Multiple Markets (Hat Tip: Jean Stoner)

Marc Faber on the Coming Economic Catastrophe Triggered by the Next AIG to Fall (Hat Tip: Jean Stoner)

Soaring costs force Canada to reassess health model

The Marxo-Fascist ‘Social & Economic Justice’ Ties that Bind (ShoreBank & “High Road” tyranny) (Hat Tip: Jean Stoner)

Bud Conrad: Dollar to Crash to Zero, Gold Will Surge

Gasoline Prices May Skyrocket Amid Oil Tax Hike

Americans overwhelmingly support auditing the Fed

Wall Street’s War (Hat Tip: Jean Stoner)

The ECB Will Only Exacerbate Upcoming Deflation By Fighting The Wrong War (Hat Tip: Jean Stoner)

A Humorous Look At The World Economy

Justice Department declares war on doctors (Hat Tip: Jean Stoner)

On health care, lobbyists flex muscle (Hat Tip: Jean Stoner)

Obama Backs Gates in Budget Debate (Hat Tip: Jean Stoner)

Czech President: Euro Zone has failed

Greece urged to give up euro

Economic woes bring Russia and Europe closer

China warns debt woes threaten global recovery

Roubini: Global recovery anemic, outlook fragile

Fed Chief Sees Delicate Dance Ahead

SurvivalBlog:

Euro Crisis to Set One World Currency?

ObamaCare’s Economic Dominoes

Easy Money, Hard Truths. Here is a key quote: “According to the Bank for International Settlements, the United States’ structural deficit — the amount of our deficit adjusted for the economic cycle — has increased from 3.1 percent of gross domestic product in 2007 to 9.2 percent in 2010. This does not take into account the very large liabilities the government has taken on by socializing losses in the housing market. We have not seen the bills for bailing out Fannie Mae and Freddie Mac and even more so the Federal Housing Administration, which is issuing government-guaranteed loans to non-creditworthy borrowers on terms easier than anything offered during the housing bubble.”

Richard Russell: This Market Has Nowhere to Go But Down

US Plays Down European Crisis But China Worried

Six New Hurdles for Home Financing

Consumers More Cautious About Spending in April

Capital Gains Tax Rise to Punish Prudent Savers

Stocks Retreat as Fitch Downgrades Spain’s Debt

Clock Ticking On 100,000 Teacher Jobs

Ron Paul: Inside Sources Told Me Fed is Panicking at Mass Awakening


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