There's more than a 50% chance the economy's heading for a double-dip recession, economist Robert Shiller says. And the Fed is already out of ammo to fight it.
And ignore everything Shiller says about a new stimulus package. He drinketh from the government spending kool-aid.
Video: Extreme profanity and broken Chinese shit -- Greatest Hits
Hide the kids and buckle up.
National Press Club Video: Two reporters engage in a heated exchange with black conservative leaders at a press conference challenging the NAACP on its charges of racism within the tea party -- August 4, 2010
Interesting clip. The first of a few stories on trumped-up racism within the tea-party movement.
The California girls seem unconcerned. Happy to have any excuse to use this photo. Apologies in advance to our generous and wonderful female readership.
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And why should 46 states have to pay for unresolved excesses in California, Illinois, New York and Michigan. Dick Morris thinks it's not an implausible outcome to the restraint-forsaken reality that is California budget politics.
And you thought the $800k salary was out of line considering the median income of Bell runs in the $34,000 range. Turns out that the disgraced Robert Rizzo was also getting more than $700k in annual benfits including 20 weeks of paid vacation each and every year.
How does Rizzo stack up to Illinois' $26 million penison man, Neil Codell?
Video: Small Towns, Sky High Public Pay -- CBS News
Happened to catch this short report on tonight's national news. Meet Bruce Malkenhorst, city manger of tiny Vernon, California.
The Greek fiscal crisis is going to come to the United States next year via the vulnerable state governments of (at least) California, Michigan and New York. Look for these states to descend once more on Washington DC with their tin cups seeking additional federal subsidies, disguised as stimulus payments. But…with Republicans in control of both Houses (bet on it) they will meet a frosty reception on Capitol Hill. While Obama will try to pass the subsidies, the GOP will turn them down. The American people – from the other 47 states – will ask why they should reward state irresponsibility with federal dollars.
Faced with a cutoff of additional federal aid, these state legislatures will be unable to balance their budgets and bond buyers will back off their paper. Ratings agencies will downgrade their bonds to junk status and bankruptcy will ensue.
Video: Dylan Ratigan with Senator Tom Coburn -- Aired July 28, 2010
Ratigan's 1-minute intro is outstanding. More solid debt and defict theater. Coburn is the lead sponsor of new earmark transparency legislation.
Brand new op-ed from Janet, and a short bit of excellence in bank-balance-sheet truth telling with Max Keiser. No miss.
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Video: Dylan Ratigan with Ret. Col. Andrew Bacevich
All 4 clips arranged inside.
Newer stories are below.
Having already taken the Bailout Stakes, insider favorite "Macro-Model" gets ready for the Propaganda Derby.
Photo by Mark McHugh
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Who Cheats More: Wall Street or Washington?
SMOKING GUNS OF US TREASURY MONETIZATION
Hall of Shame: Analysts Who Were Wrong About Lehman
Geithner pledges to help Wall Streeters understand financial reform
Q.E. 2.0 -- Fed Mulls Symbolic Shift
Elizabeth Warren Backed By Coalition Of Academics To Head New Agency
Pending Homes Sales Hit New Record Low Again
Even The Homebuilders Hate Housing Tax Credits Now
BP Says 'Static Kill' Achieved in Gulf
How BP Gulf disaster may have triggered a 'world-killing' event
REGARDING THOSE “STRONG” CORPORATE BALANCE SHEETS
All The Best Victims (Great Read on Ponzi Schemer Kenneth Starr)
Elderly man robs banks to get back into prison (for healthcare)
Greece gets creative in search for tax cheats
22 Statistics About America’s Coming Pension Crisis
The Tilted Playing Field (James Kwak)
Breitbart: Enemy of the Left with a laptop
Rare Earth Elements: The World Is Rapidly Running Out And China Has Most Of The Remaining Supply
A Birther's Birthday Card For Obama (PICTURE)
Krugman's Wrong, What Americans Need Is Lots More Deflation (VIDEO)
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Aug 11, 2010 at 2:35 PM
