Financial News Update – 09/16/10

Obama’s Drilling Moratorium Has Not Increased Unemployment in Gulf Region, Administration Report Says (Hat Tip: Jean Stoner)

Taxpayer losses from seizures of Fannie, Freddie may top $400 billion

Kotlikoff: ‘Limited Purpose Banking’ Is Solution to Financial Crisis

$700,000 Joke Telling Software – Stimulus Funded (Hat Tip: Jean Stoner)

Feds Spent $800,000 of Economic Stimulus on African Genital-Washing Program (Hat Tip: Jean Stoner)

Why a Bottom in Housing Is a Long Way Off

Next On Deck: Massive Swiss Franc Intervention?

PIMCO Makes Massive Bet That Bernanke Will Create Inflation

Wilbur Ross Goes To Ireland: Gets Government Backstop To Snap Up Troubled Bank

George Soros’ Favorite Currency Is…

The Yen Plummets After Japan Intervenes In The Currency Market

Home Prices Just Dropped In Most States And 8 Million Foreclosures Are About To Hit The Market

The Fed Isn’t Just Divided, It’s Shattered, And It’s Become The Enemy Of Investors

20 Signs That The American Consumer Is Now Completely Tapped Out

REMINDER: Japanese Currency Market Beat-Downs Come In Waves

ObamaCare ‘Shocker’: Budget Math Doesn’t Work If People Actually Use It (Hat Tip: Jean Stoner)

Bush Tax Cuts Better Than Obama Stimulus 2.0, Poll Says (Hat Tip: Brian B.)

Violent Crime Declined As Gun Sales Climbed in 2009 (Hat Tip: Brian B.)

Plugs Ordered on Idle Wells (Hat Tip: Jean Stoner)

Why governments love inflation and you should love gold (Hat Tip: Brian B.)

Rep. Taylor becomes first Dem to back repealing health reform (Hat Tip: Brian B.)

Soros: China Saved The Euro

Soros: The U.S. Economy Is “Blah”

Obama Horrified, As Exports Are Already Backsliding

A Mass Exodus Of Young Greeks Threatens To Make Debt Problems Many Times Worse

It’s the Spending, Stupid

The Census Did Not Save the Economy

Obama goes on incredible $192 million splurge-fest

The New Big Oil and Gas Find


US homes lost to foreclosure up 25 pct on year (Hat Tip: Jean Stoner)

The Feinberg Affair (Hat Tip: Nancy Jacques)

Housing Falls Off the Cliff As Foreclosures Continue Unabated (Hat Tip: Jean Stoner)

It’s Now Obvious That Housing Is The #1 Threat To Torpedo The Recovery (Hat Tip: Jean Stoner)

The Housing Double Dip Is Here (Hat Tip: Jean Stoner)

Bush Tax Cuts Not Important for US Economy: Summers (Hat Tip: Jean Stoner)

INFLATION: Producer Prices Rise By More Than Expected In August (Hat Tip: Jean Stoner)

Anonymous Goldmanite: Obama Needs To Look Like He’s Bashing Us But He Doesn’t Really Give A S#!T (Hat Tip: Jean Stoner)

CHART OF THE DAY: 43.6 Million Americans Living In Poverty Is The Highest Number Ever Recorded (Hat Tip: Jean Stoner)

Philly Fed Index WAY Lower Than Expectations At Negative 0.7% (Hat Tip: Jean Stoner)

Kudlow Calls Tea Parties Bullish for Economy: ‘Don’t Believe the Mainstream Media’ (Hat Tip: Jean Stoner)

EduJobs Bill a “Gift to Unions” (Hat Tip: Jean Stoner)

The Uninsured Numbers Are Bad, but Obamacare Can Make Them Worse

How Much “Cash for Caulk” Do We Need?

Marriage, Happiness, and a Prayer of a Chance at Escaping Poverty

Spending Cuts Are Good for the Economy

Obama’s Trickle Up Poverty Plan a Success… Poverty Rate Soars to 14.3%

Sean Duffy Will ‘Bring the Axe to Washington’

Will Republicans Punt on Earmark Reform?

New Poll: Nearly Half Oppose Tax Hikes for Rich

Christie Draws Criticism From Unions Over Pension Overhaul

Obama Dodges Senate: He’ll Name Warren as Consumer Agency Advisor

Michigan Home Healthcare Workers Sue State Over Forced Unionization

Dems Spending More on Anti-Obamacare Ads Than Pro-Obamacare Ads

Geithner Says China Needs to Allow `Significant’ Yuan Gains

FedEx Forecast Trails Estimates; 1,700 Jobs to Be Cut

U.S. Home Seizures Reach Record for Third Time in Five Months

Senate Approves Tax Cuts, Eased Credit for Small Businesses

Gold Rises to Record on Increased Demand for Wealth Protection

Current-Account Gap in U.S. Widened in Second Quarter

Fernandez Seeks $7.5 Billion in Reserves to Pay Debt

1 in 7 Americans lives in poverty

Foreclosures Rise; Repossessions Set Record

Gold hits new high

Reps Waxman, Weiner set gold hearing

Soros insider trading case to be reviewed

31 House Ds call for tax cuts — for all

Ds buy ANTI-health reform ads

Chicago cops plan massive protest against manpower shortages

Economy on Ropes — and Congress Gets Ready to Hit the Road

WH Handing Out Its Own Data on Tax Cuts

Unions Still Don’t Get It


Peter Schiff Says U.S. is Powerless to Prevent Runaway Inflation, Silver to Soar to $100

US poverty on track to post record gain in 2009.

59% of Canadians would be in trouble if their pay was delayed by a week

States cutting benefits for public-sector retirees.

One Abyss, Then Another

FMI Says that World-Wide Labor Market is in “Catastrophic Situation”

IMF Warns of Economic Slowdown

August Retail Sales Up 0.4%, Best in 5 Months

Save The Banks And Kill The Economy

Gold Is The Best Asset Class To Be In

‘Cabbagegate’: Man Fined $5,000 for Home Garden


Pelosi’s Power Over So Called “Blue Dog” Democrats:Predicts Dems To Retain Control

By: Bill Hurst
The “Troublesome” Conservative

Pelosi plans to control and gain power over the most conservative lawmakers so where will that land the mythical “Blue Dog” Democrats?

Pelosi’s power trip will leave the “Blue Dogs” with bark and no bite, actually it will leave them whimpering like whipped puppies. We all know that the so-called blue dogs are a mythical group that is a scheme devised and promoted by the Democrat party; to get their party faithful elected in conservative districts.

So where does Walt Minnick fit in?

Terresa Monroe-Hamilton’s article “Shes The Boss”:

Pelosi came from a family that bears a striking resemblance to organized crime. She will ruthlessly use and discard any one in her way or who will forward her agenda. She rules the House with an iron grip and she is simultaneously feared and hated by most politicians. Those who claim to support and adore her are sycophants that are in the DC game for money, power and prestige. Her minions are made all the more dangerous due to Pelosi’s powerful reach and thuggish policies. No radical agenda is too outrageous if she deems it worthy. Pelosi’s hypocrisy knows no bounds and she feels no shame.

An elitist’s elitist, Pelosi is cunning in the extreme. Her entire political career has been virtually choreographed and painstakingly planned. You won’t hear apologies from her and most likely, you’ll never see the attack coming if you are in her sites.

read more…


Why Is Napolitano Doing Nothing About Hezbollah on the U.S. Border?

By: Trevor Loudon
New Zeal

On August 28, I shared a video in which Glenn Beck spoke about the presence of Hezbollah in Mexico near the U.S. border. On June 23, 2010, Republican Representative Sue Myrick had written to Janet Napolitano, Secretary of Homeland Security, requesting that she:

“Engage U.S. and Mexican law enforcement and border patrol officials about Hezbollah’s presence, activities, and connections to gangs and drug cartels.”

Myrick has yet to receive a response. However her office has put together the following very informative video, which I would encourage you to spread far and wide.