Japan has agreed a 7.2 trillion yen($81bn; £48bn) stimulus plan designed toprevent the country's economy fromslipping back into recession. Japan's economygrew for the second straightquarter between July and September Obama administration predicts $30B loss onauto bailout David Shepardson /Detroit News Washington Bureau Washington -- TheObama administration will tellCongress Wednesday that it expects to lose about$30 billion of the $82 billiongovernment bailout of the auto industry, twoadministration officials familiarwith the report said today. Ah what! is "30billion" when you service 100 trillionin debt!!!!!!!! “I don’t think the housingcrisis is over,” Mark Zandi, chief economist withMoody’s Economy.com, said in atelephone interview. “I think we’re going to seeanother leg down.”Bankingsystems “remain undercapitalized” in many advanced economies with “farfromnormal” financial conditions, Strauss-Kahn said in a speech to theconference.The IMF said in September that banks may have $1.5 trillion in toxicdebtremaining on their books, which may hurt credit markets and stifle theglobaleconomic recovery. “Probably a little more has been disclosed in the U.S.and alittle less in Europe, but it’s almost half and half,” Strauss-Kahn said.“So, westill have a long way to go.”HALF OF BANK LOSSES ARE UNDISCLOSED-BANKING CRISISNOT OVER -InternationalMonetary FundManaging Director Dominique Strauss-Kahn said that about half ofbank losses fromthe global financial crisis have yet to be revealed. “It is ourview we are stillin the situation where a lot of losses haven’t beendisclosed,” Strauss-Kahn saidduring questions at the Confederation of BritishIndustry’s conference in Londontoday. “How much is a difficult assessment, butlet’s say something which isclose to half of it.”Joblessness rose in 29 U.S. states last month compared with22 in September, theLabor Department said today in Washington. Michigan had thehighest jobless rateat 15.1 percent, followed by Nevada at 13 percent and RhodeIsland at 12.9percent.70 percent of the economy. Federal Reserve Chairman Ben S.Bernanke said Nov. 17that joblessness “likely will decline only slowly,” areason policy makers willkeep interest rates near zero to ensure growth issustainedAccording to thegovernment's broadest measure of unemployment, some17.5 percent are eitherwithout a job entirely or underemployed. The so-calledU-6 number is at thehighest rate since becoming an official labor statistic in1994Russia aims to diversify its reserves, increase gold holdings andpromoteregional currencies in trade and finance to reduce risks posed by thedollar’sdominance. President Dmitry Medvedev has blamed the global financialcrisis onan over- reliance on the U.S. currencyRussia to BuyCanadian Dollars, Mulls More Currencies. Russia’s central bankwill add Canadiandollars to its reserves and may include more currencies as itseeks to reduce itsdependence on the U.S dollar.Dollar Slump Persisting as TopAnalysts See NoBottom. The most accurate dollar forecasters predict the world’sreserve currencywill continue sliding even when the Federal Reserve begins toraise interestrates, which policy makers say is an “extended period” away.$4.8 trillionInterest on U.S. debt. Unless lawmakers make big changes,theinterest Americans will have to pay to keep the country running over thenextdecade will reach unheard of levels. Read more here-http://money.cnn.com/2009/11/19/news/economy/debt_interest/index.htm= 100trillion to service........In fiscal 2009 the federal government spent$3.52 trillion $2.8 trillion in 2000dollars, which sets a benchmark forcomparison. That fiscal year covered thelast three-and-a-half months of GeorgeW. Bush's term and the firsteight-and-a-half months of Obama's. That price tagcame with a $1.4 trilliondeficit, nearly $1 trillion more than last year. Theoverall budget was about ahalf-trillion more than Bush's for 2008, his finalfull fiscal year in office.Read more here-http://www.foxnews.com/politics/2009/11/24/obama-shatters-spending-record-year-presidents/ObamaShatters Spending Record for First-Year Presidents. President Obama hasshatteredthe budget record for first-year presidents spending nearly doublewhat hispredecessor did when he came into office and far exceeding thefirst-year tabsfor any other U.S. president in historyFor starters, $6.7billion doesn’t beginto scratch the surface of what G.M. actually owes us. Overthe past 12 months,the Treasury has given it some $52 billion in the form ofcash, loans and thepurchase of that 60 percent of the company’s post-bankruptcyequity. And thatnumber fails to take into account the two bailouts of G.M.’sformer lending arm,GMAC, or the $3 billion spent on the “cash for clunkers”program, which doubtlesskept the company from posting even deeper losses.Gold at $10,000 an ounce? 10reasons it could happen within the next 12 months.Read more here-http://commoditytradealert.com/blog/?p=3956Read more here-http://www.bloomberg.com/apps/news?pid=20603037&sid=aqxm_UFsIdMIUnemployment and declining property values have increased mortgagedefaultsduring the past three years. Freddie Mac, the mortgage-finance companyundergovernment control, said today that defaults among its loans rose to arecord3.54 percent last month, while its portfolio of residential assets fell atanannualized rate of 21.6 percent. Nearly all of the 350,000 option-ARMborrowers owe more than when they firstbought their homes thanks to unpaidinterest accumulating. And many loanswritten during the first big wave, whichstarted in 2004, are getting ready fortheir five-year reset, when they becomestandard, amortizing loans.Additionally, some newer loans, where accumulatedinterest has pushed theloan-to-value ratio above 110% to 125%, will alsoreset.that means borrowers areabout to start paying very hefty prices for theirhomes. In one scenariooutlined in the S&P report, the payment on a $400,000mortgage jumps from$1,287 to $2,593. Read more here-http://money.cnn.com/2009/11/24/real_estate/option_ARM_defaults/index.htmReadmore here-http://www.bloomberg.com/apps/news?pid=20601110&sid=aV_BL.4Dmi_AAsecond wave of foreclosures is poised to hit the market, potentiallyundermininghousing recovery efforts as more homes add to the glut of inventoryand drivedown prices. These homes largely represent loans that are delinquentbut have notyet resulted in foreclosure sales. About 7 million properties aredestined to gointo foreclosure, according to a September study by AmherstSecurities Group,compared with 1.27 million properties in early 2005. "There'sa huge supply outthere," says Dean Baker, co-director of the Center forEconomic and PolicyResearch in Washington, D.C. "The foreclosure process cantake a long time. Whenit comes to (the housing recovery), we're not home free."There is often a longlag time between a borrower going delinquent and the banktaking the home. Here'swhy. Read more here-http://www.usatoday.com/money/economy/housing/2009-11-19-shadow19_ST_N.htm
US banks bailout is robbery in progress – Naomi Klein
The encroachments upon liberty, and the arrogant tax-and-spend policies emanating from Washington, D.C., and Wall Street these days are far more egregious than what George Washington and the boys were enduring in 1775-76 at the hands of the British Crown.
The populist anger about Obama's bank bailouts transcends politics. We need a banking system accountable to the public NOT ONLY 666 NWO ROB THE PEOPLE!
Chinese govt advise gold buying - why? What is their plan?
Is Obama Really Preparing For Civil War? According to an obscure report in the European Union Times (EUTimes.net), "Russian Military Analysts are reporting to Prime Minister Putin that US President Barack Obama has issued an order to his Northern Command's (USNORTHCOM) top leader, US Air Force General Gene Renuart, to 'begin immediately' increasing his military forces to 1 million troops by January 30, 2010, in what these reports warn is an expected outbreak of civil war within the United States before the end of winter......... http://www.newswithviews.com/baldwin/baldwin554.htm by Pastor Chuck Baldwin
Climate Summit is the name, Population Control is the game - The bottom line behind the climate change leftists trying to save the world…….people are in the way. People cause carbon emissions so people must die. Let us start with hundreds of millions of abortions worldwide. Shall we follow the example shared by Zhao of China? It seems these environmental thugs, now at the latest Climate Summit, want to in big part control climate by slaughtering babies first… ..then I predict, seniors, the disabled and “expensive to stay alive folks.” You think I’m nuts? Just listen to a few quotes from prominent founders of the environmental movement...... http://www.newswithviews.com/Roth/laurie193.htm by Laurie Roth
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