» Business Economy
China in Crisis: Social Stability Now "More Important Than Economic Development"
November 19, 2008 (LPAC)--China's government is so concerned about the impact of the global breakdown crisis on its economy, that the Ministry of Human Resources and Social Security has enacted measures to "help protect social stability." Ministry official Liu Junsheng told the China Daily yesterday that social stability is now "more important than economic development." In a directive issued on November 17, the Ministry announced that China's provincial and local governments must give "top priority" to keeping workers on the job. Not only the cheap-export-oriented industries, but also China's steel, aluminum, auto, and other basic industries, are laying off masses of workers. The Ministry is demanding not only measures to control the layoffs, but also emergency plans to prevent, or deal with, large groups of unemployed workers.. » read more
Wayne County Foreclosures Nov2008
Posted Nov. 18, 2008 Wayne County runs ads in paper showing foreclosures in Detroit and other Detroit suburbs inside the county. This is before the Big Three go under. VIEW VIDEO AT: http://www.youtube.. » read more
The U.S. Auto Industry and the Ripple Effect
Posted Nov. 18, 2008 What the collapse of the domestic auto industry would mean to the United States. VIEW VIDEO AT: http://www.youtube.com/ watch?v=72cHfOKoA1c&eurl. » read more
GE Plans $2 Billion in Finance Arm Cuts Next Year
Tuesday, November 18, 2008 BOSTON (Reuters) - General Electric Co (NYSE:GE - News) said on Tuesday it planned to cut costs by $2 billion next year at its finance arm, GE Capital, which has dragged lower the U.S. conglomerate's results as a result of the global credit crunch. GE said it would reorganize the GE Capital arm -- created in July when the company merged its commercial and consumer finance arms -- to focus on three regional centers in Europe, Asia and the Americas. The changes will take effect January 1.. » read more
Housing Starts Expected to Hit Half-Century Low
Consumer prices falling at fastest pace in 60 years, economists say Nov. 16, 2008 WASHINGTON (MarketWatch) -- Few observers have ever seen anything like the economic data that will be released in the coming week, with the consumer price index and housing starts each expected to breach records dating back to the late 1940s. With the global economy descending into a nasty recession, the October data could send a chill down the spine of policymakers, who are pulling out all the tricks in their tool kit to prevent a wider meltdown. As everyone knows, this downturn began in the housing sector, with a global credit bubble inflating U.S.. » read more
AIG's Demise Means Your Transit System May Shut Down
Nov. 17, 2008 (LPAC)--Some 30 metropolitan transit systems across the nation are at risk of shutdown, due to the collapse of mega-insurer AIG. Between 1988 and 2003, transit agencies went to "the market" to get financing to build their transit systems. The deals required a triple-A rated insurer to guarantee the transaction, and AIG was the prime guarantor on between $1.5 billion to $4 billion.. » read more
The Five Stages of Collapse
Nov 11 2008 1. Hello, everyone! The talk you are about to hear is the result of a lengthy process on my part. My specialty is in thinking about and, unfortunately, predicting collapse. My method is based on comparison: I watched the Soviet Union collapse, and, since I am also familiar with the details of the situation in the United States, I can make comparisons between these two failed superpowers. I was born and grew up in Russia, and I traveled back to Russia repeatedly between the late 80s and mid-90s.. » read more
America’s Economic Crisis Is Beyond The Reach of Traditional Solutions
Nov. 15, 2008 By most accounts the US economy is in serious trouble. Robert Reich, an adviser to President-elect Obama, calls it a "mini-depression," and that designation might be optimistic. The Russian economist, Mikhail Khazin says that the "U.S.. » read more
Poverty, Pension Fears Drive Japan's Elderly Citizens to Crime
Nov. 14 (Bloomberg) -- More senior citizens are picking pockets and shoplifting in Japan to cope with cuts in government welfare spending and rising health-care costs in a fast-ageing society. Criminal offences by people 65 or older doubled to 48,605 in the five years to 2008, the most since police began compiling national statistics in 1978, a Ministry of Justice report said. Theft is the most common crime of senior citizens, many of whom face declining health, low incomes and a sense of isolation, the report said. Elderly crime may increase in parallel with poverty rates as Japan enters another recession and the budget deficit makes it harder for the government to provide a safety net for people on the fringes of society.. » read more
Fox Business: Gerald Celente Predicts Revolution 11/10/08
Nov. 10, 2008 From Daily Paul: I was shocked that Fox would air such a segment. They mentioned that before 2012: 1. America will be the first undeveloped country 2. Revolution, food shortages, riots, marches 3.. » read more
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