Financial News Update – 11/18/10

Prime U.S. Mortgage Foreclosures Rise to Record

Stocks, Commodities Rise on Irish Rescue Talks, Economic Data

Ireland Turns to EU as Trichet Says ECB Aid Limited

FoxBusiness: GM Shares Up in Market Debut

BOB RUBIN: “US In Terribly Dangerous Territory,” Bond Market May Be Headed For “Implosion”

The Real Cause Of Europe’s Sovereign Debt Crisis: Mamma’s Boys

RUMOR: Ireland Threatens To Leave The Euro Unless It Can Keep Its Low Tax Rates

If You Say QE Has Failed Because Rates Are Going Up, You’re Not Paying Attention

Like Hell There’s No Inflation

SocGen Explains How To Value Gold And Why You Want To Own It

Chinese Researchers Find Official Statistics Massively Understating Inflation

Knight Research’ Stunning Call: “The Game Is Over” (Hat Tip: Jean Stoner)

I Don’t Feel Sorry for Californians Anymore (Hat Tip: Nancy Jacques)

Why Small Business Owners Trust the Tea Party (Hat Tip: Jean Stoner)

Fearing Tea Party Ax, Orrin Hatch Ups Tax-Cut Ante (Hat Tip: Jean Stoner)

China vows to tame inflation, price controls in reserve (Hat Tip: Jean Stoner)

Fed orders new ‘stress tests’ for banks (Hat Tip: Jean Stoner)

Yuan Premium in Hong Kong Shrinks 77% as PBOC Provides Funds: China Credit (Hat Tip: Jean Stoner)

Obama signs order clarifying church-state relationship (Aren’t we lucky to have the rookie Hussein?) (Hat Tip: Jean Stoner)

THE BIG DAY: GM’s Stock Roars Into High Gear

Feds to take initial loss on first sale

Share Offering Mostly Sold in N America

China buys 1% stake

STREET: Investors should stay clear due to audit problems

House Dems want $12 billion more in jobless benefits

Fears of new food crisis as prices soar

Troubled California to Restructure Debt Sales

Bond Woe Bodes Ill for States

FEC Likely to Allow Obama Bailout for Biden

U.S. considering combining military, international affairs budgets (Hat Tip: Jean Stoner)

New Google Phone to Replace Credit Cards? (Hat Tip: Brian B.)

Fed Bond Buy Lays An Egg Here, Abroad (Hat Tip: Jean Stoner)

BREAKING: Senate votes cloture on S 510 – must now be voted on in 60 days (Hat Tip: Brian B.)

‘New Socialist Republic in North America’ Constitution (Hat Tip: Brian B.)

Is A 6.5% VAT Coming? (Hat Tip: Jean Stoner)

GM Won’t Commit to Bailout Repayment… After Claiming Bailout Repayment Was Already Made

Update: GOP Sen. DeMint, Rep. Pence introduce bill to stop $3.9 trillion Obama tax hikes

12 Facts That Will Blow Your Mind – Federal Employees And Members Of Congress Are Getting Rich While Those Of Us Who Pay Their Salaries Suffer

Could The Financial Crisis Erupting In Ireland, Portugal, Greece And Spain Lead To The End Of The Euro And The Break Up Of The European Union?

Obama demands Jews lease their land (Hat Tip: Jean Stoner)

Hinde Capital’s Ben Davies: Global Debt Has Peaked And There Is No Exit [PRESENTATION]

What Kind of Gold Standard?

Dialectic Money

Headline of the Month

Food price index jumps 10.30% (Hat Tip: Brian B.)

Food Fight Breaks Out in Senate (Hat Tip: Brian B.)

Economic Suicide the Keynesian Way [Keynes a homosexual pedophile!] (Hat Tip: Jean Stoner)

President Obama outlines allowable religious practices for federally-funded organizations (Hat Tip: Jean Stoner)

Morning Bell: Does The FDA Really Need More Power?

The Lame Duck’s Seven Must Do Items

Soaking the Rich Would Not Solve the Long-Term Deficit Crisis

Is a U.S.–China Battle Already Underway—in Cyberspace?

Boomers Age of Appetites Leaves Americans with Tough Policy and Personal Choices

The Obama Administration’s Self-Destructive Trade Policy

Feds Probe Salaries at Bankrupt Megachurch (Hat Tip: Jean Stoner)

Going Soft? AP Says U.S. Chamber Won‘t Oppose Obama in ’12, Supports QE2


Letter Re: Bernanke’s Absurd Quantitative Easing Jobs Claims

The global debt clock

Panel sounds foreclosure warning, industry downplays.

The EU’s Lies Blow Up In Their Face.

Poverty in America, The Big Picture

Euro under siege as now Portugal hits panic button

Who’s next? First Greece went bust. Now Ireland is on the brink of a bailout from the European Union and the International Monetary Fund.

New York State Manufacturing Plunges

Wal-Mart Investors Set Low Bar in US Stores

Stocks Sink On Asian Inflation, Euro Debt Fears

Economy Splits For Wal-Mart, Saks Clienteles

California Will Default On Debt, Says Chris Whalen

“The history of government management of money has, except for a few short happy periods, been one of incessant fraud and deception.” – Friedrich Hayek


OPEN SOCIETY: Soros Explains The Anti-Capitalist, Pro-Marxist Tactics He Uses to Fundamentally Transform Countries

From: The Blaze

Woah!… Soros Group Says Obama Can Use Armed Forces to Push “Progressive” Agenda

Podesta: Obama Can Use ‘Armed Forces’ to Push Progressive Agenda

Soros Tells Progressives: Prepare to Bail on Obama

Coincidence? Soros Apparently Sells Off All Shares of TSA Scanner Company

Guess Who Showed Up to a Closed-Door Dem Funding Mtg in D.C.


Must View – Interview With Former NYC Police Intelligence Officer Jim Wilson

By: Trevor Loudon
New Zeal

Cliff Kincaid of America’s Survival, interviews former New York City police intelligence officer Jim Wilson.

Jim, who I met on my recent visit to New York, worked against communist and terrorist groups, including remnants of the Weather Underground for more than 20 years.

Jim has some very interesting stories about the Weathermen, Puerto Rican terrorists, the May19 Communist Organization and other groups.

Listen to Jim’s story about the role of Aryeh Neier (now head of George Soros’ Open Society Institute) and his role in the destruction of the New York City Police Department’s intelligence files.

He also tells an interesting tale of how he first became aware of Barack Obama.

Jim heavily criticizes the radicals of the Congressional Progressive Caucus and calls for the re-establishment of Congressional Committees charged with investigating subversive groups.

As Jim says:

“You’ll wind up investigating a lot of Congressmen.”


TSA Gone Wild – Part Deaux

Hat Tips: Jean Stoner/Brian B.

From: Blogs Lucianne Loves

VANITY: Things you can say to a TSA agent.

Introducing the American Traveler Dignity Act

Ann Coulter: Napolitano: The Ball’s In My Court Now

“Please have your genitalia out and ready to be fondled when you approach the security checkpoint.”

Your Government In Action, The TSA And The 4th Amendment

Leader of TSA offers pat-downs to senators

TSA – Sexual Assault

DA promises to prosecute overly touchy pat downs

Forget Body Scans and Pat Downs — Let’s Get Busy Profiling

MSM Is M.I.A. As TSA Institutes ‘Comply Or Don’t Fly’ Rules

Senators and TSA Defend “Love Pats” at Airports

DHS Source: TSA Infuriated With Coverage Of Nationwide Backlash

Expert: TSA scans would let al-Qaida duplicate 9/11

From Gateway Pundit:


Man arrested after punching screener in Indy

Pilots in Talks For Biometric System


Mark Ritchie File 3 Who Funds Minnesota’s Radical Secretary of State? Socialists, Communists and George Soros

By: Trevor Loudon
New Zeal

Mark Ritchie File 2 here.

You can tell a lot about a politician’s true allegiances by identifying who funds him.

Minnesota Secretary of State Mark Ritchie poses as a moderate, but is in fact a hard core leftist with ties to several socialist organizations.

This becomes important, because part of Ritchie’s job is to oversee electoral recounts. In 2009, Ritchie gave a crucial Senate seat to leftist and former comedian Al Franken, though his Republican opponent was ahead on election night.

Soon Ritchie will oversee a recount that could put his long time colleague and fellow leftist Mark Dayton into the Minnesota Governor’s mansion.

In the knife edge world of U.S. politics, every seat counts.

That is why the left, feeling cheated after George Bush won the 2004 presidential election (after controversial recounts in Florida), established the Secretary of State Project, to fund and elect leftist Secretaries of State. Mark Ritchie was one of the first to benefit from this initiative.

A look at Ritchie’s funder’s lists for his 2006 and 2010 Secretary of State campaigns, reveals a whole host of interesting names.

There are members of America’s largest Marxist organization Democratic Socialists of America, founders of Ritchie’s old socialist New Party and leading members of the Communist Party USA (not surprising given Ritchie’s high level contacts with that group).

Others are affiliated with high level leftist think tanks and “non profits” such as the Center for American Progress, Institute for Policy Studies, Democracy Alliance and the Tides Center.

There are also several leaders of the anti-Israel, socialist infiltrated organization, JStreet.

A couple of pro-Cuban activists appear on the list, as does a former associate of the infamous Weathermen.

Others who wrote out checks to Mark Ritchie’s campaign include a former Vice President of the United States and the man who “broke the bank of England.”

Several keen Barack Obama supporters also pop up.

Ritchie’s 2006 funders list includes:

2010 added more interesting names to the list:

Why would some of America’s leading radicals write checks to support an obscure Secretary of State race in Minnesota?

Would they have supported someone who didn’t think like them? Someone who wouldn’t see politics the same way they do?

Many of the radicals who backed Mark Ritchie – the Communist Party USA, Democratic Socialists of America and George Soros, are using the Democratic Party as a front to take power in America.

These people want Democrats, preferably “progressive” Democrats, to win every possible race, at every level. A sympathetic Secretary of State can be very helpful to this agenda.

Would these radicals have financed Mark Ritchie if they couldn’t trust him to give them what they want?