Financial News Update – 11/5/10

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Food Sellers Grit Teeth, Raise Prices (Hat Tip: Jean Stoner)

Clothing prices to jump 10pc as cotton soars, warns Next (Hat Tip: Jean Stoner)

Brazil ready to retaliate for US move in ‘currency war’ (Hat Tip: Brian B.)

Ron Paul in charge of Federal Reserve oversight? (Hat Tip: Jean Stoner)

Gold Jumps $50 in 21 Hours as Fed Devalues the Dollar with $600bn QE2 (Hat Tip: Jean Stoner)

Volcker Says Quantitative Easing May Create Inflation (Hat Tip: Jean Stoner)

In U.S., 14% Rely on Food Stamps

Fed bond move spurs backlash from Asia to Europe

Emerging markets slam Fed’s QE2 stimulus (Hat Tip: Jean Stoner)

Peak Oil Guru Robert Hirsch Gives The Definitive Guide To The Coming Energy Fiasco

This Is The Most Shocking Part Of Bernanke’s Case For Quantitative Easing

Bill Fleckenstein: America’s 20-Year Binge Of Speculating, Borrowing And Printing Is About To End

Credit Suisse: QE2 Just Made China’s Inflation Threat Much, Much Worse

Albert Edwards: QE Failure And The End Of Fiscal Expansion Will Lead To A Mammoth Collapse

Japanese Bank Governor Reminds The World That His Quantitative Easing Will Make Bernanke’s Look Like Child’s Play

Ben Bernanke: Impeach Me – I’m A Damned Liar (Hat Tip: Brian B.)

Stimulus follies: $535 million down the drain in California in “green jobs”

Unemployment stays at 9.6%

Dollar at Risk of Crashing, Triggering Inflation: Strategist (Hat Tip: Brian B.)

Morning Bell: Get to Work Repealing Obamacare

Reject All-of-the-Above Energy Approaches

Bernanke’s Squeeze

From Stagnation to Stagflation (Hat Tip: Jean Stoner)

Citi: Central Banks Are Going To Start Dumping Dollars In The Coming Weeks (Hat Tip: Jean Stoner)

Citing health overhaul, AARP hikes employee costs (Hat Tip: Brian B.)

Consumers’ right to file class actions is in danger (Hat Tip: Brian B.)

Catherine Austin Fitts; ‘The Looting Of America’ | Logistics Monster (Hat Tip: Brian B.)

Pending Sales of U.S. Existing Homes Fell 1.8% in September

AIG Swings to Net Loss on Writedowns, Bailout Repayment

OCTOBER UNEMPLOYMENT 9.6%… ADDED 151,000 JOBS

Labor Force Participation Rate Drops To 25 Year Low, At 64.5%

Oil above $87

UN calls for global taxes to fund ‘climate’ warning fight

Soros Panel Draft Says Bank Taxes

BACKLASH BUILDS AGAINST FED PUMPING

‘Dollar at Risk of Crashing, Triggering Inflation’

Brazil ready to retaliate for US move in ‘currency war’

CHINA WARNS FED MOVE ‘HUGE RISK’

Germany Concerned

Ron Paul vows renewed Fed audit push next year

Feds spend $700,000 to study cow burps… and more

NJ Gov. Christie to cut 1,200 public sector jobs

FAIL. Unemployment Rate Stuck at 9.6% in October

Horrible Liar Pelosi: “We Brought Down the Deficit & Created Jobs” (Video)

Voters speak: No to soak-the-rich schemes

AARP to Employees: Your Insurance Costs are Going Up Thanks to the Great Affordable Health Care Plan We Promoted

Tim Geithner Met With Jon Stewart in Apparent Effort to Pump More Jokes into Nation’s Economy

Caught In A Lie: Bernanke Promised Congress The Federal Reserve Would Not Monetize The Debt But Now That Is Exactly What Is Happening

Labor Unions Use U.N. Stage to Condemn U.S. for Human Rights ‘Violations’

SurvivalBlog:

Quantitative Easing is Economic Suicide

How Western Powers May Have Blown It

Ron Paul Will Chair the Monetary Policy Subcommittee

Dow Hits Two-Year High as Fed Details Stimulus. How can investors think that stock gains will out-pace double digit inflation? What idiocy.

The Fed’s Big Gamble: Here’s What Could Go Wrong

US Quantitative Easing is Fracturing The Global Economy

US Home Prices Expected to Slide Another 8%

Three Charts that Prove We are in the Biggest Debt Bubble in History

The Federal Reserve Stirs Poltergeist of Hyperinflation, Weimar Collapse

Asset Inflation/Deflation: The Fed’s QE2 Versus $15 Trillion in Losses

Fast Rising Food Prices Feed Inflation Fears

Reader “Skyrat” notes: “Just today I purchased a Famotidine (an antacid OTC medication) refill, 20 milligrams, sixty tablets for $4.00 at Wal-Mart. This replaces the (now empty) bottle I purchased 20 August 2010, for $4.00. The kicker? The new bottle held only ninety tablets. Rising cost of living, anyone?”

Corn, food and potential sticker shock

Freakanomics: A Dunkin’ Donuts Store Exhibits Penny Sanity. JWR’s Comment: I believe this trend will continue until a zero is inevitably knocked off the currency.

Food Inflation Accelerating as Cooking Oil Poised to Catch Grains.

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