Oh hell No! - U.S. Gov't owes record $63.8 Trillion

Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits..

Millions in Stimulus Checks: For dead people?

This week, thousands of people are getting stimulus checks in the mail. The problem is that a lot of them are dead. A Long Island woman was shocked when she checked the mail and received a letter from the U.S. Treasury -- but it wasn't for her..

www.myfoxny.com

GM to Build More Cars Overseas

The U.S. government is pouring billions into General Motors in hopes of reviving the domestic economy, but when the automaker completes its restructuring plan, many of the company's new jobs will be filled by workers overseas.

www.washingtonpost.com

And YOU get to pay for it - "Banks Need Billions More.."

Regulators have told Bank of America Corp it needs $34 billion of capital to withstand a deep economic downturn, an industry source familiar with results of a government stress test said late on Tuesday..

www.reuters.com

Obama disowns deficit he helped shape...

To be sure, Obama opposed the Iraq war, a drain on federal coffers for six years before he became president. But with one major exception, he voted in support of Iraq war spending..

http://apnews.myway.com

More Bad News: Bankruptcies rising with vengeance..

The number of U.S. businesses and individuals declaring bankruptcy is rising with a vengeance amid the recession, despite a three-year-old federal law that made it much tougher for Americans to escape their debts, an Associated Press analysis found.

"There's no end in sight," said bankruptcy lawyer Bryan Elliott of Hickory, N.C., who is working seven days a week and scheduling prospective clients a month in advance. "To be doing this well and having this much business, it is depressing. It's not a laugh-a-minute job."

Source: www.apnews.com

Job market is especially cruel for older workers

More Americans 55 and older are working longer, and those who are looking for jobs face a technologically transformed market where potential employers may deem them overqualified.

The recession has not been kind to older workers. With their 401(k)s battered, home values deflated and healthcare costs rising, many have resigned themselves to staying on the job indefinitely. The trend was well underway before the downturn as many continued working to pad their savings or to stay active.

Source: www.latimes.com

Author who foresaw global crisis fears worse ahead

An author who saw the global financial crisis coming fears the next bubble will come in the form of inflation and has little confidence US President Barack Obama's team is up to the challenge ahead.

"The Democrats have replaced the Republicans as the big benefactors to the financial community," said Kevin Phillips, author of "Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism."

Source: www.dailystar.com.lb

Another Time Bomb! - Expert Says INFLATION IS NEXT. "No confidence U.S. President Barack Obama's team is up to the challenge..."

An author who saw the global financial crisis coming fears the next bubble will come in the form of inflation and has little confidence U.S. President Barack Obama's team is up to the challenge ahead.

"The Democrats have replaced the Republicans as the big benefactors to the financial community," said Kevin Phillips, author of "Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism."

Source: www.reuters.com

There's still bad news ahead for the U.S. economy "financial shocks are going to be worse than expected.."

Nouriel Roubini, a professor at New York University's Stern School of Business and chairman of economic research firm RGE Monitor, said on Tuesday that he expected more dour macroeconomic data and problems in the banking and housing sectors, as well as pressures on consumers.

Source: http://finance.yahoo.com

U.S. Economy Falling Years Behind Full Speed

"Americans addiction to money. Their addiction to debt. Have got them where they are.."

As the recession grinds on, more and more of the nation's means of production -- its workers, its factories, its retail outlets, its freight lines, its bank lending, even its new inventions -- are being mothballed.

The mathematics are daunting. The shortfall is running at more than $1 trillion in annual sales and other transactions.

Only once since the Great Depression has there been such a severe loss of output -- in the 1981-82 recession -- and after that downturn, it was seven years before the economy regained the lost production..

Source: http://finance.yahoo.com

Barack Obama has the most polarized early job approval ratings of any president in the past four decades.

For all of his hopes about bipartisanship, Barack Obama has the most polarized early job approval ratings of any president in the past four decades.

The 61-point partisan gap in opinions about Obama's job performance is the result of a combination of high Democratic ratings for the president -- 88% job approval among Democrats -- and relatively low approval ratings among Republicans (27%)..

Source: http://pewresearch.org

Optimism may extend rally in short week

U.S. stocks should rally further this week, if investors get more signs that the economic slump is abating and earnings season does not get off to a rocky start.

In this holiday-shortened week, volume could be light, raising the specter of increased volatility as investors look to string together a fifth straight week of gains. Many market participants are likely to be out of the office this week, when Passover begins. Markets will be closed on April 10 for the observance of Good Friday..

Source: www.reuters.com

Quick!!! While He’s Outta the Country, Let’s Change it Back to ‘America’!!!!!!!

The Prez has flown to England and there’s only one thing to do while he’s gone: Let’s get our country back. Okay, it’s not going to be easy, there are a lot of hurdles.

I’m pretty sure I can take Harry Reid, Chris Dodd, Chuck Schumer, Maxine Waters, and that puffball press secretary Gibbs. Multiple adversary bash-a-thon!!! Hai-Yah!!



Source: http://bighollywood.breitbart.com

RECESSION/DEPRESSION: Government website to warn of sadness/crying over ECONOMY

The feds will warn of depression, suicidal thinking and other serious mental illnesses. It will raise warning flags for: Persistent sadness/crying; Excessive anxiety; Lack of sleep/constant fatigue; Excessive irritability/anger...



Source: www.drudgereport.com

Obama, and the U.S., due for a serious 'G20' Ass Kicking when he lands in Tokyo on tuesday.....

In this report from the International Herald Tribune titled, Barack Obama will face a defiant world on foreign visit ,despite his immense popularity around the world, Mr. Obama will confront resentment over American-style capitalism and resistance to his economic prescriptions when he lands in London on Tuesday for the Group of 20 summit meeting of industrial and emerging market nations plus the European Union.

"The rest of the world is yearning for him," said Kenneth Rogoff, a Harvard economist. "On the one hand, they'll all be criticizing him, and criticizing the American model. But they all want to hear that he does have a miracle to deliver."

Source: www.iht.com

Out of work mom becomes a Stripper: A mother dances at a strip club to make ends meet after her daycare business plunged...

"Me as a mom, I have to stand up and I have to do what I need to do."

See the Video 'I will do what I have to do...'

Source: www.breitbart.com

Wake Up America: 'Better-Than-Expected' Doesn't Mean 'Good'

It’s rather easy to create the mood: just paint a dour picture -- perhaps dourer than evidence would support -- then announce and let investors react when economic data are better than expected...

Read more waking up americans to reality....

Source: www.foxbusiness.com

Brazil’s President: Blame's economic crisis on “white people with blue eyes”. And that black people should not pay for white peoples mistakes'.....

“This crisis was caused by the irrational behaviour of white people with blue eyes, who before the crisis appeared to know everything and now demonstrate that they know nothing.”

He added: “I do not know any black or indigenous bankers so I can only say [it is wrong] that this part of mankind which is victimised more than any other should pay for the crisis.”

Read more "white people with blue eye's..."

Source: www.ft.com

FED: U.S. Economic outlook "pretty ugly"

The Federal Reserve must be careful about taking on credit risks as it broadens its new consumer lending program, even though a "pretty ugly" economic outlook warrants aggressive action, a top Fed official said on Thursday....

Read more "pretty ugly"..

Source: www.reuters.com