As previously noted in linked articles, the way in which the government bailed out AIG indirectly saved the big banks and institutions such as Goldman Sachs from massive losses.  More details of this back door bailout are now emerging: “Unknown outside of a few Wall Street legal departments, the A.I.G. waiver was released last month [...]

The WSJ reports that over 3 billion in cash, wrapped and bundled on pallets and in suitcases has been “legally” flown out of Afghanistan.  “Officials believe some of the cash, if not most, is siphoned from Western aid projects and US, European and NATO contracts to provide security, supplies and reconstruction work for coalition forces [...]

At church on Sunday, we sang one of my personal favorite hymns, Come Down, Oh Love Divine.  When I got to a computer, I found several versions of it on you tube, but this one was unique, it is short and very different.  I will leave it to you to watch rather than comment further. 
Here [...]

One of my favorite columnists is Ed Wallace.  He writes for the local paper ostensibly about cars, but his columns are invariably about the state of the US economy and often he treads on subjects others are too afraid to talk about, like why we are fighting in Iraq and Afghanistan.  Seven years ago, he [...]

Federal Reserve Chairman, Ben Bernanke has written a manual on preventing deflation and has been implementing the steps contained therein.  “Entitled ‘Deflation: Making Sure It Doesn’t Happen Here’, it is a warfare manual for defeating economic slumps by use of extreme monetary stimulus once interest rates have dropped to zero, and implicitly once governments have [...]

Arturo Rodriguez, the president of the United Farm Workers of America, is tired of hearing that illegal immigrants take jobs that legal citizens would otherwise take.  So, together with comedian Stephen Colbert, he is asking legal US citizens, including right wing pundits and elected officials in DC, to take the open farmworker jobs.  “First, dress appropriately. [...]

While the BP oil spill in the gulf is getting world wide attention, little has been reported until now about the almost constant environmental devastation caused by oil spills in Nigeria.   “The Niger Delta has suddenly become a cautionary tale for the US. As many as 546 million gallons of oil spilled into the Niger [...]

Monthly sales of new homes has fallen and is now (on an annualized basis) at a record low.  “The Commerce Department said sales dropped a record 32.7 percent to a 300,000 unit annual rate, the lowest level since record keeping started in 1963, from a downwardly revised 446,000 units in April. The fall unwound two [...]

Well, this article and interview of financial analyst and chief market strategist at Delta Global Advisors, Michael Pento, actually predicts what the Federal Reserve will do in late summer, early fall when (as he says) the existence of the deflationary recession finally takes hold in the mind of the Fed.  While I do not agree [...]

Just the facts: Rapper P Ditty’s son turned 16.  He cannot drive, as he has no license.  His father threw him a party at Manhattan’s M2 Ultralounge.  Rappers Fabolous, Lil’ Kim, and Jim Jones all performed.  The cast from Jersey Shore attended the party (no doubt for a fee).  Ditty also bought his son a [...]