Financial News Update – 01/06/11

Why Bank of America Must Be Thrilled to Pay a $3 Billion Penalty (Hat Tip: Brian B.)

Leaked document: EPA knowingly approved bee-killing pesticide (Hat Tip: Brian B.)

At Least 10 States Have Introduced Gold Coins-As-Currency Bills (Hat Tip: Brian B.)

December Sales: How Retailers Fared (Hat Tip: ThirdWaveDave)

Reading the Constitution in Congress

William Daley Named as President Obama’s New Chief of Staff

Ron Paul Warns of ‘Cataclysmic’ Economic Crisis

Obamacare Pushes for Early Death

Source: Volcker Leaving Obama Advisory Group

Imagining the Unimaginable

Vieira to Paul Ryan: It Feels Like the GOP is Out For ‘Revenge’ (Hat Tip: Brian B.)

Beyond Surveillance: Darpa Wants a Thinking Camera (Hat Tip: Brian B.)

World food prices enter ‘danger territory’ to reach record high (Hat Tip: Brian B.)

UNDERNEWS: Bank of America seeking help from CIA connected firm (Hat Tip: Brian B.)

World Food Prices Surge to Record, Passing Levels That Sparked 2008 Riots (Hat Tip: Brian B.)

Obama Has Spent Nearly Two Months Golfing (Hat Tip: Brian B.)

Dept. of Education teaching educators about Alinsky, Cloward-Piven and need for State-Run Media (Hat Tip: Jean Stoner)

Census Bureau Reports State Government Revenues Decline Nearly 31 Percent [$1.6 to $1.1 Trillion] (Hat Tip: Jean Stoner)

Chips Makers Target Everything But Kitchen Sink (Hat Tip: Jean Stoner)

WOODALL INTRODUCES FAIRTAX BILL ON DAY ONE WITH RECORD NUMBER OF ORIGINAL CO-SPONSORS (Hat Tip: Jean Stoner)

U.S. Contains Enough Oil and Gas Reserves to Fuel Country for Decades, Petroleum Institute Says (Hat Tip: Jean Stoner)

Publisher Puts “Warning Labels” On Controversial Literature (like the Constitution) (Hat Tip: Jean Stoner)

EU plans for bondholder haircuts unsettles debt markets (Hat Tip: Jean Stoner)

Tea Party leaders not swayed by Dick Lugar meeting (his bid for 7th term will have opposition) (Hat Tip: Jean Stoner)

Siegel Up at Night Fearing Catastrophes

Republicans kill global warming committee (WOW!) (Hat Tip: Jean Stoner)

2011: A Fiscal Reckoning That Cannot Be Avoided (Hat Tip: Jean Stoner)

NYC Mayor “up to his neck” in Ground Zero Mosque controversy (Hat Tip: The Blaze)

The Eurasia Group Presents The 10 Greatest Risks To Global Stability In 2011

Why That ADP Report May Not Be Nearly As Good As Advertised

How Serious Is The Oil Price Threat To The US Recovery?

Bill Gross: Americans Are Female Praying Mantises Munching The Heads Of Future Generations

Food Prices Just Hit An All Time High

Necessity of the Plutocracy?

World Bank to Manage Food Supplies?

Report rips IRS ‘torment’ of taxpayers (Hat Tip: Jean Stoner)

Geithner Urges Congress To Raise Debt Limit; Warns Of US Default (Hat Tip: Jean Stoner)

Barron’s: US Will See Run on Treasurys, Hyperinflation (Hat Tip: Jean Stoner)

BBC News – World food prices at fresh high, says UN (Hat Tip: Brian B.)

Nano Patents and Innovations: Newly Developed Cloak Hides Underwater Objects From Sonar (Hat Tip: Brian B.)

Russia: Obama Signed Away Missile Defenses (Hat Tip: Nancy Jacques)

The Long Swim – How the Fed Could Become Insolvent (Hat Tip: Brian B.)

2011: Year of the bank run? (Hat Tip: Brian B.)

NRSC Why didn’t Claire McCaskill listen to Missourians BEFORE voting for ObamaCare? (Hat Tip: Brian B.)

Rep. Blackburn gets Democrat’s support on legislation to strike net neutrality (Hat Tip: Jean Stoner)

ABC News: Michele Bachmann Considering Presidential Bid (Hat Tip: Jean Stoner)

An Evangelical Backlash Against Environmentalism (Hat Tip: Jean Stoner)

Cabinet members urge GOP not to repeal health care law (OK! Just defund it) (Hat Tip: Jean Stoner)

Blue Shield of California seeks rate hikes of as much as 59% for individuals (Hat Tip: Jean Stoner)

Brazil pledges to stop US ‘melting the dollar’ (Hat Tip: Jean Stoner)

Police state in electronic age? (Hat Tip: Jean Stoner)

Healthcare law challenged by Wisconsin’s new governor (Hat Tip: Jean Stoner)

DARLING: Bid to ‘reform’ filibuster is dangerous

Health Spending Eats Up Record Chunk of GDP

Contractors Brace for Cuts as Gates Readies Budget Ax

Morning Bell: Repeal Doesn’t Increase the Deficit

Recession Accelerates Shift Towards Greater Control of Washington in Health Care

New Plastic Bag Tax Coming to a Store Near You

U.S. Military Direct Orders: Do More with Less

Unconstitutional Who Cares: Dean Confirms ObamaCare Will Eventually Eliminate Private Insurance (Hat Tip: Jean Stoner)

U.S. jobless claims rise 18,000 to 409,000 (forget about yesterday’s good news from ADP) (Hat Tip: Jean Stoner)

Obama’s Oil War (Hat Tip: Jean Stoner)

US Government seen hitting debt limit in March or April (Hat Tip: Jean Stoner)

Countdown to Default: US Seen Hitting Debt Limit in March or April (Hat Tip: Jean Stoner)

Reid: ‘The American People Love Government’ (Hat Tip: Jean Stoner)

Stealing Pensions (Hat Tip: Jean Stoner)

UPDATE: Another Suspicious Package Found At Third Maryland Office Building

Republicans Are Doing Something Pretty Brilliant In Their Budget Cutting Efforts

The Truth Comes Out: Paul Volcker Was Forced Out, Because The White House Is Going More “Pro Business” (sure they are…)

Why the World Is Financially Doomed in Four Charts

This Is What The World Is Going To Look Like In 2050

CHINA’S MOST AUDACIOUS RIP-OFF YET: The Beijing Version Of Dubai’s Burj Khalifa

The 11 Slowest Growing Economies Of 2011

Moody’s, What Are You Waiting For? Take Away America’s AAA Rating Now

The World’s Largest Currency Hedge Fund Says The Euro Could Fall Below Dollar Parity In 2011

Tea Party Caucus Founder Pushes to Repeal Dodd-Frank Law

Obama Picks Daley For Chief of Staff Job

Boehner Fights CBO’s Health Law Estimates

Taxpayer Advocate: Simplify the System

PENTAGON BUDGET SLASH: OBAMA TO CUT TROOPS ON ACTIVE DUTY

FEDS BREAK GROUND ON SUPER SPY CENTER

2nd person denied AZ transplant coverage dies

Town Bans Sidewalk Smoking, Threatens $1,000 Fines

Maryland Set To Pass ‘Dime A Drink Tax’ On Alcohol

Pelosi’s Final Debt Tab: $5.3 Trillion Added During Speakership — $3.67 Billion/Day

CHINA MAY BUILD HIGH-SPEED RAIL — IN CALIFORNIA!

AGENCY BEGINS RESERVATIONS FOR SPACE FLIGHTS! Trips for $200,000

Census: Number of poor may be millions higher; 1 in 6

Retailers report surprisingly weak December

Jobless claims rise more than expected

GALLUP: Broader underemployment worsened to 19% in December — up sharply from 17.2% at end of Nov

IRS tax liens jump 60%

Obama calls Gibbs $174,000 salary ‘relatively modest’

UFC fighter calls out Obama, gets visit from Secret Service

Republicans Introduce Bill to Eliminate Obama’s 39 Czars

Shocker. Big Lib McCaskill Suddenly Distances Herself From Individual Mandate That She Pushed Just 4 Months Ago (Video)

Speaker Boehner: GOP Will Not Increase Debt Limit Without Spending Cuts

Day One: GOP Congressman Introduces Bill to End ‘Birthright Citizenship’

Gibbs: Obama Opposed Raising Debt Ceiling Before He Was For It

SurvivalBlog:

Barron’s: US Will See Run on Treasurys, Hyperinflation

Pressure builds on Spain’s banks; Are credit markets predicting a bank run in Spain?

2011: Year of the bank run?

Police issue warning about buying and selling gold.

Why Gold Is Money

Holding Physical Gold is Absolutely Critical to Your Financial Survival

Explosion Of The Western Public Debt Bubble

Unemployment Rises In Two-Thirds Of Metro Areas

Auto Sales Up Since First Time In Recession

Factory Orders Rise 0.7% In November

Food Emergency: Millions of Americans Are Heading To Food Banks For First Time


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