Financial News Update II – 08/09/10

Budget guru warns of federal stimulus spending and ‘an end to federalism’ (Hat Tip: Nancy Jacques)

The Death of the Dollar (Hat Tip: Brian B.)

Man Receiving Unemployment Benefits Refuses Over A Dozen Job Offers

What Is Quantitative Easing?

David Rosenberg: Here’s Why You Ignore The Bond Market At Your Peril

John Hussman Destroys The Myth Of Corporate Cash On The Sidelines

Suddenly, It’s Beginning To Look A Lot Like Stagflation

Maybe This Is Why Christina Romer Was Forced Out

Are Markets Two Days Away From Being Suckerpunched By The Fed?

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January

Why Ben Bernanke’s Next Round Of Quantitative Easing Will Be Another Huge Flop

The 20 US Cities Where Incomes Are Falling The Fastest

Here’s Why Commodities Inflation Can Coexist With A Deflationary Trap


It’s War — Virginia Lawmakers Fight Gates’ Base Cuts


Links To Visit – 08/09/10

Big Government – Defending Liberty

The Mudville Gazette – The Army’s Manning problem

Chicago Sun-Times – Cops love iPhone data trail (Hat Tip: Brian B.)

The Troublesome Conservative – New Blog Name & Ideas For Conservatives

The Washington Times – KUHNER: Radical Islam’s conquest of America (Hat Tip: Brian B.)

Haaretz – German police shut down mosque once used by Sept. 11 attackers (Hat Tip: Brian B.)

Moonbattery – Four Vacations in 1 Month for Comrade Obama (Hat Tip: Brian B.)

The Anchoress – The Best & Brightest Need to Vacate

nullifynow – States’ rights should be encouraged, not punished

Tenth Amendment Center – Rewriting History

FSM – Electromagnetic Pulse Threat (Hat Tip: Brian B.)

Larry Shook – Judging Judges: Open Letter to an Ethicist*

WSJ – It All Starts with Vote Fraud (Hat Tip: Lorie Byrd)

Doug Giles – The Separation Between Muslims and Taste

DHS – Homeland Security Begins with Hometown Security (Hat Tip: Nancy Jacques)

Knowledge Creates Power – Bloomberg Doesn’t Care Where Mosque $$ Is Coming From and Kerry Thinks Unemployed America Needs Muslim Employees…???

Fox News – 86 Days to Decide: Activists Say Tea Party Imposters Infiltrating Elections (Hat Tip: Nancy Jacques)

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Financial News Update – 08/09/2010

Lawmakers Called Back to Washington

Desperate to Get US Economy Moving

Globalism Is for Adults?

Time to admit Obamanomics has failed (Hat Tip: Curtis Frantz)

And Now, Here Are All The Gory Details Behind Today’s Ugly Jobs Report

David Rosenberg: Finally, Everyone’s Coming Around And Seeing How Bad The Economy Is

The Four Key Debates Happening Inside The Fed

Here’s One Way The U.S. Lost Decade Is Completely Different From Japan’s

We’re Going To Have To Wait 5 Years To Start Spending Again

TrimTabs Identifies 7 Factors Contributing To A Second-Half Slowdown

It’s Bad News On Both Sides Of The Atlantic, But Expectations Of Bernanke’s Bazooka Keeps Losses In Check

China Continues To School The World In What A Stress Test Should Really Look Like

AIG Faces Fed Scrutiny as Dodd Law Spares Buffett’s Bets

Crash of 2015 Won’t Wait for Regulators to Rein in Wall Street

U.S. Stocks Advance Amid Speculation of Fed Stimulus Measures

Goldman Sachs Cuts 2010 S&P 500 Forecast to 1,200

Morgan Stanley’s $11 Billion Makes Chicago Taxpayers Cry

Morning Bell: Blaming Bush Doesn’t Create Jobs

What Patient-Centered Health Care Reform Really Looks Like

The Secret to Better Public Schools and Balanced State Budgets: Strong Private Schools

Drilling Moratorium Devastating to Gulf

Fed ponders next recovery move on economy

Monkeys, Ants, Dogs and Dinosaur Egg Stimulus

Obama Jobs Deficit Jumps Unexpectedly, ‘Recovery Summer’ a Pipe Dream

Toilet Paper ‘Down Under’ To Cost More Thanks To Green Policies

Local Tea Party Group Runs Full Page Attack Ad Against Illinois Progressives

Ohio’s Dem. Gov. Gave Stimulus $$ to Co. That Exported Jobs to El Salvador




REPORT: Bank in Maxine Waters case was weakest to get TARP funds

Freddie Mac needs $1.8 billion more from taxpayers

U.S. electricity blackouts skyrocketing

Bill would freeze federal workforce at 2009 levels

KUDLOW: Panic at White House over stalled economy

PAPER: Time to admit Obamanomics has failed

WH TO DEMS: Don’t talk health care, talk jobs

Federal online gambling legislation clears big hurdle

DoD to Cut Major Military Command in Virginia

$26B to Aid States — And Dem Campaigns?


Economy Heading for a Systemic Collapse into Hyperinflationary Great Depression

Gold Dinar, Silver Dirham

Food Prices up as Consumers Feel Economic Pinch

Chicago Bank Fails, 2010 Tally Hits 109

Job Figures Just Part of a Grim Economic Picture

Jobless and Staying That Way

One-fourth of Idaho work force’s paychecks cut

Dept. of Homeland Security points out the fragility of the infrastructure.


Climate Control is Futile – Be Prepared or Be Sorry

By: Trevor Loudon
New Zeal

Some common sense on Climate Change from Australia’s Carbon Sense Coalition.

The Carbon Sense Coalition today called for an end to wasteful spending on attempts to change the climate by taxing and rationing carbon.

The Chairman of “Carbon Sense,” Mr Viv Forbes, said that man will never control climate.

“Noah did not blame cooking fires for the flood – he built a boat before the rain came.”

Forbes explained:

“It’s time to stop wasting money trying to control the climate – this will be no more successful than slaughtering sacrificial goats, even if tax payers and electricity consumers are to be the goats.

“Man will never control the climate. Wealthy societies can and do improve their local environments of air, land and water. But to think that trading carbon credits, taxing carbon or subsidizing carbon geo-sequestration, wind towers or ethanol production will improve our climate is delusionary.

“Temperature forecasts from the many climate models continue to disagree and be proven wrong – they cannot predict next month’s weather let alone next century’s climate. Earth history shows that hungry global cooling is just as likely as benign global warming. No matter what computer models say, we will do what generations of our ancestors did – adapt and make the best of whatever Mother Nature deals up.

“We will always have extreme weather and natural disasters – floods, droughts, earth quakes, bush fires, heat waves, blizzards, cyclones and storms have been part of the human experience since the flood of Noah and the earthquake of Jericho.

“However, like pagans of old, power seeking politicians advocate sacrifice of jobs, assets and industries to appease the climate god.

“Sensible people prepare to cope with calamities. Instead of wasting billions on vain attempts to prevent a rainy day, it is cheaper and more effective to just buy an umbrella.

“The first need in any natural disaster is disaster proof infrastructure and equipment that can be called in to help the threatened area – flood proof roads, railways and airstrips plus helicopters, bulldozers, fire trucks, tents, bedding, trained emergency manpower and adequate stored food and water. Only a strong economy can afford such preparedness.”

Our advice for today’s climate alarmists is:

“It is better to be rich and prepared for anything, than to be poor and overwhelmed by everything.”

Well said Mr Forbes.