Financial News Update – 07/22/2010

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Asia’s Dr. Gloom: China’s Stocks Will Crash Soon (Hat Tip: Jean Stoner)

Public Option Back on Table The bastards are trying to shove it through…

Global Banks Face $5 Trillion Credit Squeeze (Hat Tip: Jean Stoner)

Unintended consequences of new finance law could snuff out credit, bond market (Hat Tip: Jean Stoner)

Is Obamacare fracturing? 150 House signatures already (Hat Tip: Jean Stoner)

The Tax Tsunami On The Horizon (Hat Tip: Brian B.)

GOLDMAN’S TOP ECONOMIST MAKES IT OFFICIAL: HERE COMES THE SECOND HALF SLOWDOWN

China Is Now Dangerously Dependent On Foreign Energy

Central Bankers to Prick Bubbles

Pelosi: Bush Tax Cuts “Did Not Create Jobs” And Should Be “Repealed”

The Natural Gas Man

Another warning sign of economic collapse emerges

Cap-and-Trade Bill Would Make Housing Less Affordable

Bush Tax Cuts Roil Democrats

Thousands protest drilling moratorium at rally

Morning Bell: The Obama Tax Tsunami is Here

United Nations Defends North Korean Health Care System

Harry Reid: ‘Auto Bailout Probably Saved Ford’

Alabama shoreline faces economic disaster without aid, say mayors (Hat Tip: Brian B.)

Democrats Attack Small Business Owner for Speaking Out Against Obama’s Policies (Hat Tip: Brian B.)

Let’s Lever Up (Again)! GM Buys a Subprime Lender for $3.5 Billion

Newt Gingrich: Obama Like a “Teenager with a Credit Card” (Hat Tip: Brian B.)

Defense Crippling U.S. Budget

China: The US Is “Insolvent and Faces Bankruptcy” (Hat Tip: Brian B.)

Penniless idiocy (Hat Tip: Brian B.)

Democrats propose the most useless spending cuts in history

More bailouts for Fannie and Freddie as they continue to fail

Congress Extends $34 Billion Jobless Benefits Package

Feinberg Said to Cite Companies on Payments to Execs

Index of U.S. Leading Economic Indicators Fell 0.2%

Purchases of U.S. Existing Homes Fell in June

Budget Cuts Force City To Stop Buying Toilet Paper

Regulators mull 5-year lobstering ban from MASS to NC

White House Backs Bill to Collect Employee Pay Information from Businesses, Establish Database

‘Tax Cuts’ Split Dems

Harry Reid: Auto Bailout Probably Saved FORD [?]

BAILOUT REACHES $3.7 TRILLION

Gov’t watchdogs: Mortgage program not working

New Jobless Claims Highest since February

Unemployment rate above 7% through Obama term

DEMOCRATS SHELVE CLIMATE BILL

City lays off firefighters, but buys $850,000 ‘water scuplture’

Credit card agreements unintelligible to 4 out of 5 adults

SurvivalBlog:

US financial system support up $700 billion in past year-watchdog. “Total US government financial system support seen at $3.7 trillion.” Yikes!

How to Upgrade an Old Phone into a Porsche

Why Are Banks Withholding Highend Repossessions Over $300,000 From the Market?

Raising Taxes to Combat Recession: The Ultimate Fiscal Folly

Stocks Drop as Bernanke Warns of Uncertain Economy

Firms Want to Rehire, Skilled Workers Scarce

Cities Rent Police, Janitors to Save Cash

Bernanke Must Appear Concerned, Not Desperate

China Cuts US Treasury Securities Holdings by $32.5 Billion

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