Financial News Update – 01/04/11

Elite on a Tightrope

Forever Stamps Tell Us Much

Allen West Says New Congress Should Prioritize Threat Of ‘Infiltration Of The Sharia Practice’ In U.S. (Hat Tip: Brian B.)

Muni Bond Yields Are Pumped for a Reason

The $1.3 Trillion Dollar Black Hole In The Economy (Hat Tip: Brian B.)

Obama: Not Always a Fan of Upping Debt Ceiling (Hat Tip: Brian B.)

The Real, Scary Debt Lesson That Japan Has For The US

30 Reasons Why 2011 Is Going To Be Another Ugly Year For America’s Middle Class

2010 Oil Production Was Very Disappointing, And The EIA Is Playing Number Games

Before China Crashes, This Is Going To Happen First

The Party Is Over In Australia As Debt And Living Costs Surge

Forget It If You Were Hoping For An Easy Solution To The Eurozone Crisis In 2011

New Government Policy Imposes Strict Standards on Garage Sales Nationwide (Hat Tip: Jean Stoner)

HHS is Paying Google with Taxpayer Money to Alter ‘Obamacare’ Search Results (Hat Tip: Jean Stoner)

Morning Bell: The Fight for the Filibuster

A Year of Regulatory Abuse: The 10 Worst New Rules of 2010

Federal Court Immigration Decisions Breeding More Arizona Enforcement Laws

House Transportation Rule is Waste Buster

India, Iran resolve oil row (Agree to stop using Dollars) (Hat Tip: Jean Stoner)

Drilling Is Stalled Even After Ban Is Lifted (Hat Tip: Brian B.)

Republican Congressman: Ban Funding of Obamacare in Every Appropriations Bill This Year (Hat Tip: Brian B.)

MSNBC’s Chuck Todd Parrots Obama Talking Points: Will GOP ‘Relitigate’ Health Care? (Hat Tip: Brian B.)

14 states may target birthright citizenship (Hat Tip: Brian B.)

UPDATE 1-US House Republicans move to repeal Obama healthcare

Path Clears for Deep-Water Drilling

National Debt Tops $14 Trillion


Some Fed Officials Had High Threshold to Alter QE2

Cole Says U.S. Auto Sales Still at `Depression’ Level

Food-Safety Funding Battle Looms as Obama Prepares to Sign Reform Bill

Too-Big-to-Fail Banks Face New Limits Under EU Plan

States Coax Veteran Professors to Retire as Budget Cuts Loom

Health Law Repeal Picking Up Dem Votes?

Milwaukee Archdiocese Files for Chapter 11

Florida School District Lays Off Teachers After Reportedly Agreeing to Spend $1 Million on Butterfly Gardens

FEDS probe UNION SNOW SLOWDOWN that paralyzed NYC

POLL: Voter Concern About Economy Hits Highest Level In Over Two Years

Schumer: Health care foes should forego coverage

Obama set to use executive powers

Pelosi spent last days as Speaker at luxurious resort in Hawaii – $10,000 a night…

Bankruptcy Filings Leapt 9% Last Year

CA Supreme Court OKs searches of cell phones without warrant

Europe begins confiscating private pension funds

Detroit Schools: 40,000 kids to get laptops from stimulus funds

Greece to Build Border Wall to Keep Out Illegal Immigrants.

Unemployment up in two-thirds of metro areas; most since June

Inflation Jumps in Europe

MYSPACE plans dramatic downsizing

Calif. Supreme Court approves warrantless data seizures by police (Hat Tip: Brian B.)


Issa, House GOP Preparing Major Investigations of Obama Administration

On Issa’s list:

• WikiLeaks’ release of classified diplomatic cables
• Recalls at the Food and Drug Administration
• The role of Fannie Mae and Freddie Mac in the foreclosure crisis
• The Financial Crisis Inquiry Commission’s failure to identify the origins of the meltdown
• Alleged corruption in Afghanistan

Will The Default Of A Vietnamese State-Owned Company Be The Black Swan Of 2011?

Muni Investors Beware: America Is Full Of Chowchilla, Calif. Death Traps

AMERICA GETS PUNKED… Russians Say START Treaty Covers Antimissile Defense Systems

Detroit porkulus dump: $49 million for laptops

Economic War

Caught on Tape: Proof the NYC Blizzard Response Was Sabotaged?

Job Layoffs Hit Obama’s Organizing for America

Official: House GOP Will Vote on ObamaCare Repeal Next Week

Report: Obama May Appoint William Daley to Top Post in White House Shake-Up


White House Warns Failure to Raise Debt Ceiling Would Mean Economic ‘Crisis’

Never Forget the Fed Caused the Economic Downturn

Bernanke Only Adds Fuel to the Fire with Quantitative Easing

Albert Edwards: China is a “Freak Economy” and it Will Crash, and Take Down the Rest of the World.

Commodities Beat Financials Making Silver Top Pick

Credit Card Withdrawal-Banks Pull Plug on Consumer Revolving Debt

Economy Ends 2010 with Sigh of Relief

“Ben Bernanke made a fatal error by launching QE2 too early, with an incoherent justification, by dribs and drabs for fine-tuning purposes. The QE card cannot easily be played a third time. If he now tries to print money on a nuclear scale to crush all resistance and hold down Treasury yields, he risks exhausting Chinese patience and invites the wrath the Tea Party Congress.” – Ambrose Evans-Pritchard

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