Financial News Update – 09/09/10

Obama Is Against a Compromise on Bush Tax Cuts (Hat Tip: Curtis Frantz)

Yuan Trading Against Russian Ruble Said to Start Within Weeks in Shanghai (Hat Tip: Brian B.)

Light bulb factory closes; End of era for U.S. means more jobs overseas (Hat Tip: Jean Stoner)

How Ireland’s Gigantic Bank Bailout Is Threatening To Destroy Its Relationship With The Rest Of The Eurozone

Anglo Irish Bank!

Here’s How Ireland Got Into This Huge Mess With Anglo Irish Bank

Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov’t Data (Hat Tip: Brian B.)

There Are Now Enough Vacant Properties In China To House Over Half Of America

The Psychology Of Deflation Explains Why House Prices Will Continue To Fall

Gold Is On A Tear, And Thanks To Bernanke, It Will Win The Battle Against Treasuries

David Rosenberg: This Is An Upside-Down Recovery

Breaking: Anglo Irish Bank To Be Split In Two

How Have All The Major World Markets Done Since 2000?

Another Bank? President Obama Pushing National Infrastructure Bank (Hat Tip: Brian B.)

Irish Bond Yields Marching Higher Again, Spreads Hit New Record

Andy Xie: The Financial Industry Is A ‘Gigantic Parasite’ We Don’t Need Anymore

Doomsdayers Are Not Cynical Enough

Capitol Hill employees owed $9.3 million in back taxes last year, data show



By: AJ


This is the first bill to enforce Federal control of our communities through federal legislation. The Federal Government will have control over us and our communities if this bill passes.

PRICE TAG: $4 BILLION, and that will grow.

Here’s a video that gives an example of what a government controlled community is and what becomes of it.

STATUS: Ready to go to Senate floor for a VOTE.


Introduced by Sen. Christopher Dodd [D-CT]


Related bill identified by Library of Congress staff:

H.R. 4690: Livable Communities Act of 2010 Introduced



Livable Communities Act of 2009 – Establishes in the Department of Housing and Urban Development (HUD) an Office of Sustainable Housing and Communities (OSHC). Establishes in the executive branch an independent Interagency Council on Sustainable Communities. Requires the OSHC Director to establish a program to make comprehensive planning grants and sustainability challenge grants to eligible entities (partnerships between a consortium of units of general local government and an eligible partner, which may be a metropolitan planning organization, a rural planning organization, a regional council, or a state). Requires the use of a comprehensive planning grant to carry out a project to:

(1) coordinate land use, housing, transportation, and infrastructure planning processes across jurisdictions and agencies;

(2) identify potential regional partnerships for developing and implementing a comprehensive regional plan;

(3) conduct or update housing, infrastructure, transportation, energy, and environmental assessments to determine regional needs and promote sustainable development;

(4) develop or update a comprehensive regional plan or goals and strategies to implement an existing comprehensive regional plan; and

(5) implement local zoning and other code changes necessary to implement a comprehensive regional plan and promote sustainable development.
Requires the use of a sustainability challenge grant to:

(1) promote integrated transportation, housing, energy, and economic development activities carried out across policy and governmental jurisdictions;

(2) promote sustainable and location-efficient development; and

(3) implement projects identified in a comprehensive regional plan.

Directs the OSHC Director to study and report to specified congressional committees on incentives for encouraging lenders to make, and homebuyers and homeowners to participate in, energy-efficient mortgages and location-efficient mortgages.


1. Call Senate Minority Leader Mitch McConnell and demand that he lead Senate Republicans in opposition to S.1619. Tell him this bill will destroy local community decisions and enforce massive federal control over our communities. Call Senator McConnell early and often. His office # is: 202-224-3135. His fax # is: 202-224-2574. His address is: S-230 Capitol Building, Washington. DC 20510-7010.

2. Call Senator John Thune, chairman of the Republican Senate Policy Committee. His committee sets Republican policy for all Senators. He must feel our heat in opposition to S.1619!!! Senator Thune’s Republican Policy Committee # is 202-224-2946. Fax # 202-224-1235. Email: [email protected]. His address is: Senate Republican Policy Committee, SR-347 Russell Senate Office Building, Washington, DC 20510-7064.

3. Call your state’s two U.S. Senators and demand they vote against S.1619. Senate switchboard: (202) 224-3121. Ask for your Senators by name. It is vital to the liberty of America that S.1619 be stopped.

For more information on what the Federal Government is trying to accomplish with this bill, go to the American Policy Center (APC) website: www.americanpolicy.org. APC has been a leader in the fight to expose and stop this agenda.

LINK TO BILL: http://www.govtrack.us/congress/bill.xpd?bill=s111-1619

Article: Chris Dodd’s last act: ‘Control the people’


The Ad That Will Finish Harry Reid

By: Trevor Loudon
New Zeal

Americans For New Leadership has released a new advert which delivers a powerful 30 second message, showing that Republican candidate Sharron Angle will be a far better choice for Nevada than re-electing Senate Majority Leader, Harry Reid. They state:

“We know that the first step to reversing direction is to remove from office those that will advocate for growth in the size and scope of the federal government. Washington DC is broken and the only way to fix it is to send people there that understand the proper role of government and the power that regular citizens should have. We are dedicated to doing our part to help by letting every single Nevadan know what damage Harry has done to our State and our Country.”

Everyone is encouraged to donate to Americans For New Leadership to assist with funding for the screening of the advert.