US to send Marines -- to Australia
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Trend forecaster Gerald Celente's gold account emptied by MF GLOBAL
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Trend forecaster Gerald Celente's gold account emptied by MF GLOBAL
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A scary prediction for the collapse of paper money
What should U.S. Federal Reserve chairman Ben Bernanke do next? London-based economist Detlev Schlichter says, succinctly: “Abdicate.” What should U.S. President Barack Obama do next? Mr. Schlichter says, succinctly: “Abdicate.” With Mr. Schlichter, you aren’t left with much doubt about his position. He says the world’s major currencies are destined to crash. “The dollar, the euro and the yen are locked in a race to the bottom,” he writes on his website, papermoneycollapse.com. The only question is which one crashes first. Mr. Schlichter...
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Fund managers see U.S. downgrade, global recession by 2013
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Mass bond selloff takes Europe from bad to worse
The European debt crisis is rolling across the continent at alarming speed, proving that almost no country is immune to the contagion unleashed by Greece and Italy as confidence in the region’s ability to reduce its debt loads evaporates. Yields on the 10-year bonds of France, Belgium, Spain and Austria all soared to record euro zone highs on Tuesday in spite of fresh data showing that the German economy is still expanding and despite the tentative launch of caretaker governments in Rome and Athens with mandates for economic reform.
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Italian unity fails to stem market fears over eurozone
Mario Monti secured agreement from Italy's opposition politicians to form an emergency government - but rather than pacifying European markets as expected, Italy's bond yields were pushed over 7pc while those of France, Spain, Belgium and Austria hit fresh highs. Economists at Schroders warned that Rome's borrowing costs were "unsustainable" even with the help of the European Central Bank (ECB). "With no solution to Italy's problems in sight... we are heading for an almighty crash," they said in a note. Britain benefited as investors...
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Postal Service reports massive $5 billion loss
NEW YORK (CNNMoney) -- The U.S. Postal Service released its annual financial results on Tuesday, and they're nothing to write home about. The agency reported an annual loss of $5.1 billion, as declining mail volumes and mounting benefit costs take their toll. The Postal Service said its losses would have been roughly $10.6 billion if not for the passage of legislation postponing a $5.5 billion payment required to fund retiree health benefits. Revenues from First-Class Mail, the Postal Service's largest and most profitable product, declined 6% from...
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U.S. pension insurer's deficit hits record $26 billion
WASHINGTON — The federal agency that insures pensions for 1 in 7 Americans ran the largest deficit last year in its 37-year history. The Pension Benefit Guaranty Corp. said it ran a $26-billion imbalance for the fiscal year that ended Sept. 30. The agency has been battered by the weak economy, which has brought more bankruptcies and failed pension plans. Its pension obligations rose $4.5 billion. The PBGC also earned less money in the stock market, which helps to fund pension plans. Returns were $3.6 billion, half what it earned the previous...
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Will FHA be the next big government bailout
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European Union debt crisis: Britain must help rescue eurozone, say Germans
The German government believes Britain should be part of a Europe-wide tax on financial transactions, the proceeds of which could help prop up the single currency. However, David Cameron and George Osborne have blocked the tax, with the Chancellor claiming it is a “bullet aimed at the heart of London”. Ministers have instead called on the Germans to allow the European Central Bank (ECB) effectively to print money to rescue beleaguered economies. The Prime Minister will travel to Berlin on Friday for what are expected to be tense...
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The Israel Air Force struck terror targets in the northern Gaza Strip overnight Tuesday, following earlier rocket attacks on southern Israel emanating from the coastal territory, the IDF Spokesman's Office said in a statement. IAF aircraft recorded direct hits on a terror tunnel and on an additional center of terrorist activity. All of the aircraft involved in the strike returned safely to Israel, according to the statement. The IDF Spokesman's Office said that terrorists had planned to use the tunnel as a means to infiltrate Israel and perpetrate a terror...
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It's hard to mistake that Hawaiian scenery. But President Obama apparently forgot where he was during his press conference Sunday on the outskirts of Honolulu -- despite being born there. The president mistakenly described his location as "Asia" while answering a question about budget cuts. "When I meet with world leaders, what's striking -- whether it's in Europe or here in Asia -- the kinds of fundamental reforms and changes, both on the revenue side and the public pension side, that other countries are having to make are so much more...
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Severe Thunderstorms Cause Damage: Missouri to New York
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Texas, Louisiana Under Fire of Severe Storms, Tornadoes
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3 Earthquakes in 6 Days Hit Georgia
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Man Facing 105 Years in Prison for Shooting at Would-Be Thief
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France Objects to Strike on Iran; Would Drag World into 'Uncontrollable Spiral'
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As The European Debt Woes Spiral Out Of Control
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After NY crackdown, Occupy DC tent cities expect to grow
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