Financial News Update – 08/02/2010

Krauthammer: “The Chevy Volt Is A Disaster” (Hat Tip: Brian B.)

EPA control of CO2: Obama’s Vehicle To Destroy The US Economy is Launched (Hat Tip: Jean Stoner)

Missouri Ballot Measure Will Test Popularity of Obama’s Health Care Law (Hat Tip: Brian B.)

Why Bankers Didn’t See Collapse

The Aftermath Of The Global Housing Bubble Chokes The World Banking System

Pay No Attention To This Morning’s IMF Report On The State Of The US Economy

UBS: Sorry, The Europe Crisis Is Far From Over

Consumer Confidence Drops Like A Stone, Stocks Rally

Russia Exported $50 Million In Diamonds To Guinea Late Last Year, But No One Can Explain Who Bought Them Or Why

Tax Hike Planned For Lame-Duck Session

Morning Bell: It’s About The Spending, Speaker

Court Refuses to Block Virginia’s Obamacare Challenge

Obamacare’s Porous Protections Against Funding Elective Abortion

Welfare in the Bronx: Personal Responsibility Is Still the Key

Greenspan Flip-Flops on Tax Cuts

Laffer: Taxing Rich Will Kill Recovery

Gingrich: Renew Bush Tax Cuts or Economy Will Sink

Republican Party eyes choking health law funding (Hat Tip: Brian B.)

SUNDAY MORNING

Down Economy: America’s ‘Oldest Family Farm’ Up For Sale

Recovery Slumber: Consumers Stop Consuming

Is The American Middle Class Disappearing?

The revolt against Obamacare

Oil Tops $80 Barrel for First Time Since May

PAPER: Obama must break his tax promise

Bernanke faces growth mysteries

LAYOFFS GUT E ST LOUIS POLICE; CRIMINALS ‘RUN WILD’

Cuba eyes more self-employment as massive layoffs loom

Raul says state will reduce economic role

EPA to Crack Down on Farm Dust: ‘Would establish most stringent and unparalleled regulation’

Popularity of farming soars in Massachusetts

The Taxman’s Watching You — on Google Earth

SurvivalBlog:

How Zombie Banks are Ruining the Future, by James D.

Marc Faber recommends: invest in a farm surrounded by barbed wire and guarded by Dobermans.

Gingrich: Obama Repeating Mistakes From the Great Depression.

What to Expect if Bush Tax Cuts Expire. The congresscritters in Washington are so desperate for revenue that they will likely reanimate both the higher income taxes and capital gains taxes. I predict that this will shut down the economy. Some optimists will call it a “double dip” recession. I ‘ll describe it more accurately: stepping off a cliff, a la Wile E. Coyote.

Ireland: selling the family silver; Ireland prepares for a fire sale of national assets to pay debts.

The Tyranny of the Majority, the US Federal Budget and Free-Market Thinking.

Bank Failures on Two Coasts Stretch Toll for Year to 108.

It’s time to drop DROP

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