The consequences of Washington's debt crisis

Armageddon

By Martin D. Weiss, Ph.D.

If you thought Wall Street's debt crisis was traumatic, wait till you the see the consequences of Washington's debt crisis! Never before in history has a world power like the U.S. been so utterly buried in debt! And never before has that debt been financed so massively by foreign investors!

//www.informationclearinghouse.info/article24831.htm



This Is Liberalism?

By David Michael Green

You gotta hand it to the agents of the regressive right for playing the weakest imaginable hand so well. I'm talking about the Lee Atwaters and Frank Luntzs of the world, who both understand human psychology (read fear) and are absolutely pitiless about employing it for purposes of assisting the rich and powerful in raping the rest of us.

//www.informationclearinghouse.info/article24834.htm



'Large wave of foreclosures' ahead?

Mortgage financier Freddie Mac reported today that a record 4 percent of its borrowers are at least three months behind on their loans and in danger of foreclosure.

//www.mercurynews.com/bay-area-news/ci_14462914?source=email&nclick_check=1



Foreclosure crisis hits affluent towns

The foreclosure auction was still an hour away, but potential buyers were already circling the Baird home, snapping photos with their Blackberries.

//tinyurl.com/yfnl9sc



"Real" Unemployment Could Surge to 25%, Portfolio Manager Says

Lekas sees the headline unemployment rate rising to 10% in February and climbing to 15% or 16% by mid-year. Even more dire, he sees the "real" unemployment figure surging to 25%.

//snipurl.com/umwwd


From Information Clearing House

--------

The Senate's Reconcilable Differences

Sen. Bernie Sanders, In These Times: "The United States is in the midst of the worst economic crisis since the 1930's. Millions of Americans continue to lose their jobs, homes, life savings and ability to send their children to college. Since December of 2007, more than 7 million Americans have lost their jobs; a staggering 17.3 percent of the American workforce is either unemployed or under-employed, and over 6 million Americans have been out of work for more than six months, the highest on record."

//www.truthout.org/the-senate%E2%80%99s-reconcilable-differences57038



It's Not the Budget Deficit; It's the Trade Deficit

Dean Baker, Truthout: "The Wall-Street-financed crew that is pushing to gut Social Security and Medicare is used to playing fast and loose with facts and logic to advance their agenda. Unfortunately, many of the reporters who cover these issues have little knowledge of economics, so they are often suckered."

//www.truthout.org/the-budget-deficit-debt-and-dollar57083



Explain Something to Me: Fixing What's Wrong in Washington ... in Afghanistan

Tom Engelhardt, TomDispatch.com: "Explain something to me. In recent months, unless you were insensate, you couldn't help running across someone talking, writing, speaking, or pontificating about how busted government is in the United States. State governments are increasingly broke and getting broker. The federal government, while running up the red ink, is, as just about everyone declares, "paralyzed" and so incapable of acting intelligently on just about anything."

//www.truthout.org/explain-something-me-fixing-whats-wrong-washington-afghanistan57076



America's Public Debt: The Least of Our Worries

Mark Weisbrot, The Center for Economic and Policy Research (CEPR): "Various political demagogues and Wall Street interests have mounted a campaign to convince Americans that despite persistent massive unemployment for the foreseeable future, more than 15 million people underwater on their home mortgages, and two unnecessary wars, what we really should be worried about is America's national debt."

//www.truthout.org/americas-public-debt-the-least-our-worries57233



A Titanic Budget in an Ocean of Icebergs: Will the USS Budget Go Down?

Jo Comerford, TomDispatch.com: "Send up a flare! The 2011 federal budget has sprung some leaks in the midst of a storm. Not sure there's enough money for life rafts! Forget women and children first! Buffeted by economic hard times, the 2,585-page, $3.8 trillion document is already taking on water, though this won't be obvious to you if you're reading the mainstream media."

//www.truthout.org/jo-comerford-a-titanic-budget-ocean-icebergs-will-uss-budget-go-down57274



Abandoned Foreclosures a Mounting Crisis in Florida

Robert Napper, The Bradenton Herald: "A mounting crisis created by the record number of foreclosures in Manatee County has hit Jeannette Traylor right where she lives: An abandoned foreclosed home has brought blight, crime and fear into her neighborhood."

//www.truthout.org/abandoned-foreclosures-a-mounting-crisis-florida57301

--------

The US Falls Into the Sovereign Debt Ring of Fire
//www.lewrockwell.com/spl2/debt-ring-of-fire.html

The Fast Track to the End of the World as We Know It
//www.lewrockwell.com/daughty/mogambo33.1.html



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