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1.China Defaulting Loans Soar, Insolvency Lawyer Says (www.bloomberg.com)
Wow first world cancer while transitioning from a third world economy.
One from column A and One from column B
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2.Secret summit of top bankers (www.news.com.au)
Secret.... or hidden.
"Dubai should have been an isolated incident and now we are seeing issues with Greece, Portugal and Spain.''
...but everywhere else is O..K..?
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3.Paulson's book details GE chief's private concerns in 2008 over company's debt (www.washingtonpost.com)
"The following week, the FDIC changed its rules. And by early November, GE was accepted into the program. Analysts said that the program was critical to GE's financial health and that it enabled the company to avoid paying exorbitant prices to sell debt in late 2008."
Remember when GE used to produce toasters and jet engines (jobs) in America? Now they are screwing share holders (misleading them) and along with Paulsen conning American tax payers into bailing them out as if they were a bank (in the true definition). -
4.Paulson Says Russia Urged China to Dump Fannie, Freddie Bonds (www.bloomberg.com)
He beat them to it. He ruined the economy himself.
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5.Bankers Gather at Davos to Plot Against New Regulations (www.bloomberg.com)
“The bankers are loving this because they know we will never get an agreement and we’ll never get regulation and we’ll go back to where we were,”
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6.Egypt's fertile Nile Delta falls prey to climate change (news.yahoo.com)
Amazing little story. Food supplies challenged, potential forced migration. A bitter first taste of global warming.
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7.Bankrupt Tribune Company Hands Out $45 Million In Bonuses (www.businessinsider.com)
The big business disconnect. But don't ask them to pay higher taxes for the roads they use or the water consumed, services provided and waste. Its just bad for business.
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8.
CITGO Petroleum Company, purchased by Venezuela's state-run oil firm Petróleos de Venezuela in 1990. Through the association, Venezuelan socialist leader Hugo Chavez might conceivably "spend government funds to defeat an American political candidate, just by having CITGO buy TV ads bashing his target." - "The Saudi government owns Houston’s Saudi Refining Company and half of Motiva Enterprises. Lenovo, which bought IBM’s PC assets in 2004, is partially owned by the Chinese government’s Chinese Academy of Sciences. And Singapore’s APL Limited operates several U.S. port operations. A weakening of the limit on corporate giving could mean China, Saudi Arabia, Singapore, and any other country that owns companies that operate in the U.S. could also have significant sway in American electioneering."
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9.Supreme Court Blocks Ban on Corporate Political Spending - NYTimes.com (www.nytimes.com)
"“a major victory for big oil, Wall Street banks, health insurance companies and the other powerful interests that marshal their power every day in Washington to drown out the voices of everyday Americans.” - Obama
The final stone is cast in the disassembling of the United States.
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10.
"make the planet healthier and decrease US dependence on foreign oil. Advocates should emphasize words like "cleaner," "healthier," and "safer"; scrap "green jobs" in favor of "American jobs," and ditch terms like "sustainability" and "carbon neutral" altogether. "It doesn't matter if there is or isn't climate change," he said. "It's still in America's best interest to develop new sources of energy that are clean, reliable, efficient and safe."
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11.AIG 100-Cents Fed Deal Driven by France Belied by French Banks (www.bloomberg.com)
Merd
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12.Alan Grayson Petitioning Against Looming Supreme Court Campaign Finance Decision (www.huffingtonpost.com)
"Unlimited corporate spending on campaigns means the government is up for sale and that the law itself will be bought and sold. It would be political bribery on the largest scale imaginable.
This issue transcends partisan political arguments. We cannot have a government that is bought and paid for by huge multinational corporations. You must stop this."
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13.December Retail Sales Drop .3 Percent, 2009 Sales See Biggest Drop In 27 Years (www.huffingtonpost.com)
Jing jing jingling
dimes and quarters
instead of jobs and mortgages
Bung bung bungling
Makes an economic mortuary -
14.Giving corporations an outsized voice in elections (www.latimes.com)
"Corporations are pitching a bizarre product -- a radical vision of the 1st Amendment. It would give corporations rather than voters a central role in our electoral process by treating corporate political spending as protected speech."
USA surrenders to corporate (stateless) city states
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15.Corrupt China officials pocket 50 billion (www.breitbart.com)
In China they shoot them in the back of the head. In the west they are given posts in the government.
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16.The Other Plot to Wreck America (www.nytimes.com)
- At Citi, Weill built little more than a bloated gambling casino. As Paul Volcker, the regrettably powerless chairman of Obama’s Economic Recovery Advisory Board, said recently, there is not “one shred of neutral evidence” that any financial innovation of the past 20 years has led to economic growth. Citi, that “innovative” banking supermarket, destroyed far more wealth than Weill can or will ever give away."
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17.Venezuela devalues currency (www.ft.com)
China? Lower gas prices? Nah
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18.The Bankruptcy Decade: 10 Years of Failure (www.economiccrisisblog.com)
A graphic collapse.
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19.Consumer Credit in U.S. Drops Record $17.5 Billion in November (www.bloomberg.com)
Will the Fed and Geithner have to Ponzi more money into the market?
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20.Obama administration drops effort to end subsidies to large farms (www.agriculture.com)
Corporate farms get a pass (continued welfare)
"It's a huge disappointment," said Chuck Hassebrook, executive director of the Center for Rural Affairs in Lyons, Nebraska. "This was the centerpiece of candidate Barack Obama's policy."
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21.Russia decides to ban U.S. poultry imports (www.reuters.com)
Technical and health-related barriers have become a thorn in U.S.-Russia meat trade, increasing as Russia moves to boost its domestic meat production and decrease its reliance on imports.
Russia, which does not belong to the WTO, lowered its quota for U.S. poultry this year. But industry officials believe the chlorine issue will be worked out because Russia cannot yet produce enough to meet its needs.
The void will be filled with vodka.
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22.U.S. car ownership shifts into reverse (www.theglobeandmail.com)
No money no car.
"-high debt load from purchasing cars and other automobile-related costs will lead some three-car families to cut back to two cars, and those with two cars to trade down to one or none. Better transit systems and the influx of residents into downtown areas of some U.S. cities are also cutting down on car usage."
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23.Business As Usual Is History: Corporations Won't Save Us, But Co-ops May (www.alternet.org)
If conservatives and corporatists fear communism what if Co-ops take hold... Get ready for the onslaught.
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24.Tom Engelhardt: An American World of War: What to Watch for in 2010 (www.huffingtonpost.com)
Rope a dope... Once big and strong. Swinging towards exhaustion.
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25.
At least if it stands empty they don't have to pay anything. No foreclosure here.
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