Financial News Update – 12/9/10

US Treasurys: Bond Prices Plunge for 2nd Day on Deficit Fears (Hat Tip: Brian B.)

Capital Markets – US Treasuries hit by biggest sell-off since Lehman (Hat Tip: Brian B.)

Commodities – Crude oil tipped to bubble over $100 a barrel (Hat Tip: Brian B.)

10 reasons to shun stocks till banks crash Paul B. Farrell (Hat Tip: Brian B.)

Market Skeptics: BP Gulf Oil Spill Disaster (Hat Tip: Brian B.)

CYBERWAR: Now Hackers Have Taken Down Mastercard.com As Revenge For Julian Assange

Remember November 4?

REVENGE: Hackers Announce They Will Try To Take Down Visa.com In One Hour

Austrian Man Fined By U.N. For Selling Lavish “Birthday Presents” To Kim Jong-il

85% Of Americans Can’t Answer These 5 Basic Financial Literacy Questions

Steve Schwarzman Is Leaving The Country And Taking Blackstone’s Money With Him To Europe – Once Things Get “Bloody”

Stocks Creep Higher While The Bond Rout Continues: Here’s What You Need To Know

Tom Friedman Hysterically Describes The State Of The US Economy

James Turk: You Should Also Take Your Silver Out Of The Banks

Check Out The Greatest Hits Of Operation Payback, The Hackers That Took Down Mastercard

The Next Black Swan: Congress Unthinkably Moves To Cancel Build America Bonds

Munis Crushed Again, While Bond Collapse Pushes PIMCO’s Big Fund To Levels From Early August

Boycott Wal-Mart If You Want to Help Save America From Big Brother (Hat Tip: Brian B.)

Wikileaks: Stop Us? You’ll Have to Shut Down the Web (Hat Tip: Brian B.)

Rush: Obama committing over 1% of GDP to UN for climate change (Hat Tip: Brian B.)

American Retirement Funds at Serious Risk of Being Seized (Hat Tip: Brian B.)

House Dems to Obama: “Nyet”

Coming soon to your local Walmart

Urgent: Democrats attempting to pass Food Safety Act by hiding it inside appropriations bill HR 3082 (Hat Tip: Brian B.)

One Chart To Rule Us All (Hat Tip: Larwyn)

President Obama Lambastes Democrats in Congress for Holding the “American People Hostage” to Tax Cuts for the Rich (Hat Tip: Larwyn)

Gold and Silver Ebb, but Not the Larger Trend

Kansas Growers Worry About Wheat Crop, But It’s Early (Hat Tip: Brian B.)

Summers Says Economy Worse Off Without Tax Compromise

Ron Paul, Author of `End the Fed,’ to Lead Fed Oversight Panel

Morgan Stanley Said to Expect Bonuses to Drop as Much as 30%

Home Values to Drop by $1.7 Trillion This Year, Zillow Says

State Street Sells $11 Billion in Mortgage Securities

Mortgage Rates for U.S. Loans Jump to Five-Month High

Dean Foods Loses 59% as S&P’s Worst After Milk Deals Sour

Federal Reserve Said to Consider Debit-Card Fee Cap

Spokane, WA – AMR billing fraud, Officer Involved Shootings et al

There’s an Economic Collapse Coming to This Country – Plan Now (Hat Tip: Brian B.)

Bank of America Settles In Bid-Rigging Case (Hat Tip: Brian B.)

NYT’s Krugman Slips and Tells the Truth about ‘Death Panels’ (Hat Tip: Brian B.)

House Democrats push through massive budget bill (Hat Tip: Nancy Jacques)

House, Senate on Collision Course After Dems Reject Tax Cut Bill

Jobless Claims Fall Second Time in 3 Weeks

Anarchy in the U.K. as Tuition Hike Passes

Napolitano Announces Expansion of “If You See Something, Say Something” (Hat Tip: Jean Stoner)


Bank run attempt fails, 4 now. What to do 1st 24 hours of crisis, if it occurs? (Hat Tip: Jean Stoner)

Here’s The Real Reason Mexico Just Opened Itself Up To Private Oil Production

Bernanke Told America 2 Massive Lies On 60 Minutes

This Is The Worrying Reason Consumer Credit Is Rising Even Though Revolving Credit Is Tanking

Italian Budget Worries Are Causing Bank CDS To Spike

Why Crude Oil Is Poised To Surge To Over $100/Barrel

Student protests in London turn violent

Thousands try to break through police barricades at Houses of Parliament

Attack car containing Prince Charles, Camilla


POLL: Most Americans Say They’re Worse Off Under Obama

US Treasuries hit by biggest sell-off since LEHMAN

Prices Plunge for 2nd Day on Deficit Fears

Rattles investors

Food Stamp Rolls Continue to Rise

House Dem push through massive budget bill

Despite court order, city refuses to return seized cash

Carbon Marts Launch Around the World

S.510 “Hitched” A Ride On Massive Budget Bill, 1984 Is Here (Hat Tip: Jean Stoner)

Cuckoo In Cancun (Hat Tip: Jean Stoner)

The Abdication of the West (Hat Tip: Jean Stoner)

Morning Bell: Rally for Liu Xiaobo

Life Is Not Pretty in Argentina’s Pink House

Guest Blogger Roger Helmer MEP: Climate Conference Set to Crash and Burn?

Where’s the Tax Bill?

PRINCE CHARLES’ CAR ATTACKED By Violent London Youths… Christmas Tree in Trafalgar Square Torched

16 Year-Old Wikileaks Supporter Arrested For DDoS Attacks on PayPal and Mastercard

Dems Reject Obama & His Bi-Partisan Tax Extension Deal

VIOLENCE AT LONDON STUDENT PROTESTS – At Least 3 Police Officers Seriously Wounded; Students Smash Windows & Set Fires (Video)

Scandal!… Powerful Democrats Helped Chinese Firm Get Stimulus Cash For Wind Farm

Obamacare Passed ‘For the Children’; Children Hardest Hit

Who Says There Aren’t Any Good Jobs Out There?

Has The Fed Lost Control Of The Bond Markets? (Hat Tip: Jean Stoner)

America’s Message To The Rest Of The World: You Send Us Oil And Cheap Plastic Gadgets And We’ll Send You Our Wealth And Prosperity

Violent U.K. Protesters Attack Car Carrying Prince Charles

AFL-CIO Leader Accepts Communist Party Award: ‘I Stand With Them’

Lawrence O’Donnell Loses it With Alan Grayson Over Tax Compromise

Democratic Caucus Votes to Reject Obama Tax Compromise

Bark but No Bite? AP Says House Dems Will Accept Tax Compromise

Report: Dems Helping Chinese Get $450 Million in Stimulus Money


Bond Prices Plunge for Second Day on Deficit Fears

We’re all doomed!!! We still haven’t woken up to how much poorer the West is going to be in the future…

IMF sells 200 metric tons of gold worth $6.7 billion to India’s central bank

U.S. Facing Federal Debt Cataclysm, The Establishment Is in Despair

The Fed Has a $110 Billion Problem with New Benjamins

The Federal Reserve covered staggering losses at American banks

Consumer Credit Jumps by Most in More than Two Years

Eurozone on Brink of Meltdown

Huge Movements in Silver Comex

“The current Irish government has agreed to borrow something like $88 billion euros to shore up their banking crisis. That is about $27,000 for every man, woman, and baby in Ireland, a rather small country with a little over four million people.” – John Mauldin


Weekly Featured Profile – 12/9/10

By: Trevor Loudon

Carol Moseley Braun (born 1947) is a former Senator from Illinois (1992-1998) and former U.S. ambassador to New Zealand (1999-2001).

Braun has long had close ties with the Communist Party USA. In 1978 she was a leading member on the Committee to Elect John Lumpkin for the 7th Ward Alderman, Chicago. Lumpkin was the son of prominent Chicago CPUSA leaders Frank Lumpkin and Bea Lumpkin. Also that year, Braun was elected to the Illinois State legislature where she became legislative floor leader for CPUSA-linked Congressman Harold Washington.

In November 1979, she was a co-sponsor, with Congressmen Ron Dellums and John Conyers of the founding conference of the CPUSA-led U.S. Peace Council, an affiliate of the Soviet controlled World Peace Council.

When she ran for the U.S. Senate in 1992 on the Democratic ticket, she enjoyed the support of the CPUSA just as her friend and colleague Washington had done. In 1978, the Socialist Party USA put their support behind Braun in her campaign for Rep. Robert Mann’s old U.S. Congress seat. In the early 1980s, Braun, Washington, Danny Davis, Frank Rosen and long-time friend Timuel Black were members of the Committee in Support of Southern Africa. In 1992, the Democratic Socialists of America-infiltrated Chicago Democratic Party persuaded Braun to run for the U.S. Senate. They then “produced votes to back up [their] pledge of support.” The Council for a Livable World also endorsed her in the race. Institute for Policy Studies and Campaign for America’s Future leader Robert Borosage has served as an issues adviser to the campaigns of Braun, Barbara Boxer and the late Paul Wellstone. In November 2010 Braun announced that she will be running in the 2011 Chicago mayoral election.