Mid East & Mid West

SUBHEAD: What we witness across the Arab World and our own middle America is part of the same phenomena - adjustment to poverty.By Juan Wilson on 27 February 2011 for Island Breath - (http://islandbreath.blogspot.com/2011/02/mid-east-mid-west.html)Image above: We are all brothers. From (http://riadzany.blogspot.com/2010/06/death-of-interfaith-leader-sheikh.html).Mid EastLike it or not, the world

From the bottom of the pyramid

SUBHEAD: The wealthy may have deliberately chosen to buy themselves out of the need for 'messy' human entanglements and interdependencies.By Nicole M. Foss on 22 February 2011 for the Automatic Earth - (http://theautomaticearth.blogspot.com/2011/02/february-22-2011-view-from-bottom-of.html)Image above: Jane Darwell as Ma Joad in 1940 film "The Grapes pf Wrath". From (http://www.examiner.com/

Borders to file for bankruptcy

SUBHEAD: This may signal the closing of the popular bookstore at Kukui Grove in Lihue.By AP Staff on 11 February 2011 for Huffington Post -(http://www.huffingtonpost.com/2011/02/12/borders-bankruptcy-detail_n_822128.html)Image above: Kauai's Borders Books at Kukui Grove, the only bookchain retailer on the island. From (http://www.flickr.com/photos/brewbooks/2503902404).Borders Group Inc. may file

Sovereign debt fear to spread

SUBHEAD:Sovereign debt unsafe. European default concerns will spread to United States and Japan.By Simon Kennedy on 7 January 2011 for Bloomberg News - (http://www.bloomberg.com/news/2011-01-07/sovereign-debt-unsafe-default-concern-spreads-to-u-s-japan-buiter-says.html)Image above: European debt domino effect. From (http://www.sovereignindependent.com/?attachment_id=10267).Fears of a sovereign

Day of Reckoning

SUBHEAD: Here's that must-watch 60 Minutes segment on the finances of the states with Merideth Whiteny.By Joe Weisenthal on 20 December 2010 for Business Insider - (http://www.businessinsider.com/60-minutes-on-state-budgets-2010-12)Image above: Still frame of Meredith Whitney from video below.Here it is, what everyone will be talking about today. Says Meredith Whitney: This is the other big

Waiting for the other shoe to drop

SUBHEAD: Our policy makers first created a crisis of confidence, and then resolved it by legalizing a global Ponzi scheme.By Steve Ludlum on 26 December 2010 in Economic Undertow -(http://economic-undertow.blogspot.com/2010/12/waiting-for-other-shoe-to-drop.html)Image above: Monopoly board for Banksters to play Wall Street Kleptocracy. From (http://ilene.typepad.com/). Merry Christmas! Here

Inter-Galactic Bailout

SUBHEAD: The Fed extends the hand of debt beyond borders. Alien wealth will be required to bail them out.By Bill Bonner on 2 December 2010 in The Daily Reckoning(http://dailyreckoning.com/inter-galactic-bailout-the-fed-extends-the-hand-of-debt-beyond-borders)Image above: Batman and Robin face intergalactic aliens. From (http://comicsmakenosense.blogspot.com/2010/08/

Walking in suspended animation

SUBHEAD: We need to walk calmly away from the game before the music stops in order to minimize the consequences of being wrong.Image above: In 1929 a family seeks the sunny side of life. From (http://midclassillustration.blogspot.com/2009/11/realismrockwellian.html).By Nicole Foss on 22 November 2010 for The Automatic Earth - (http://theautomaticearth.blogspot.com/2010/11/november-22-2010-

Is Bank of America Doomed?

SUBHEAD: BOA & Countrywide mortgage policies of retaining loan documents may yet bankrupt the bank.Image above: Homeowners threatened by BOA foreclosures in Worceestor, MA. From (http://worcester.indymedia.org/node/39604).By Abagail Field on 22 November 2010 in AOL Daily Finance - (http://www.dailyfinance.com/story/credit/bank-of-america-mortgage-document-errors-trouble-countrywide/19728402/)

QE2 is Fooling You

SUBHEAD: This is nothing but another move by the Fed to bail out the lethally wounded banks long enough for insiders to get out.Image above: Last chance to get the money out of banks. Still from "Public Enemies". From (http://www.aintitcool.com/node/36106).By Ilargi on 5 November 2010 in The Automatic Earth -(http://theautomaticearth.blogspot.com/2010/11/november-5-2010-qe2-is-fooling-you.html)

On the Precipice Again

SUBHEAD: Bank of America edges closer to tipping into insolvency... hence, so do we all.Image above:Painting "Pie in the Sky" by Mark Bryan. From (http://www.artofmarkbryan.com/Pie_in_the_Sky.html).By Jonathan Weil on 4 November 2010 for Bloomberg News - (http://www.bloomberg.com/news/2010-11-04/bank-of-america-edges-closer-to-tipping-point-commentary-by-jonathan-weil.html)It was only last April

The Tombstone Blues

SUBHEAD: Bottom line is that banks are toast. The Fed is toast. The Dollar is toast.Image above: Haunted house in a graveyard. From (http://bobbypotter.com/wallpaper/34271-haunted-house-screen-saver.jpg).By James Howard Kunstler on 25 October 2010 for Kunstler.com - (http://kunstler.com/blog/2010/10/the-tombstone-blues.html)

The Mortgage Wars

War breaks out today within the banking industry over the mortgage fiasco.Image above: Vanilla iced flat cake with Countrywide logo emblazoned with the words "America's #1 Wholesale Lender" and "One source. Countless solutions. One loan at a time." From (http://acutemigraine.info/countrywide.html).By Staff on 19 October 2010 for CNBC -(http://www.cnbc.com//id/39745128)The New York Federal Reserve