Archive for February 17th, 2011
February 17, 2011
Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer.
“Everything’s fucked up, and nobody goes to jail,” he said. “That’s your whole story right there. Hell, you don’t even have to write the rest of it. Just write that.”
I put down my notebook. “Just that?”
“That’s right,” he said, signaling to the waitress for the check. “Everything’s fucked up, and nobody goes to jail. You can end the piece right there.”
February 17, 2011
The number of Americans filing first-time claims for unemployment benefits edged up last week, the government said Thursday.
There were 410,000 initial jobless claims filed in the week ended Feb. 12, according to the Labor Department. That was up 25,000 from the week before, and slightly more than the 408,000 claims economists surveyed by Briefing.com had expected.
Continuing claims — which include people filing for the second week of benefits or more — rose by 1,000 to 3,911,000 in the week ended Feb. 5, the most recent week available.
This time Max Keiser and co-host, Stacy Herbert, talk about Guanxi schemes selling fictional forests for real money, while real farmland cant find even a virtual penny. In the second half of the show, Max talks to author and documentary filmmaker, Greg Palast, about whether it is peak oil or oil dictatorships that is the bigger threat to the global economy.
Federal Reserve Chairman Ben Bernanke says the central bank is working closely with other regulators to implement the biggest overhaul of the nation’s financial rules since the 1930s. (Feb. 17)
Complete video at: http://fora.tv/2011/02/17/Monitor_Breakfast_OMB_Director_Jacob_Lew
Speaking at a Monitor Breakfast about the federal budget, Office of Management and Budget Director Jacob Lew said that social security does not contribute to the deficit in the medium term and is in no imminent danger of collapsing. “There is no need to deal with social security and dealing with it would have, at best, negligible impact,” said Lew.
Jacob “Jack” Lew was confirmed by the Senate on November 18, 2010, as the Director of the Office of Management and Budget, a position he previously held from 1998 to 2001.
Before returning to OMB, Lew was the first Deputy Secretary of State for Management and Resources, in which capacity he served as Chief Operating Officer of the department.
JP Morgan has an incentive to keep the number of Americans enrolled in the food stamp program as high as possible because it’s the largest processor of food stamp benefits. Michael T. Snyder, the founder of The Economic Collapse Blog says JP Morgan and other big banks appear to get away with anything; there does not appear a desire by the government to do something.
The big guns of America’s military establishment are taking defensive action on Capitol Hill to protect their budget. Defense secretary Robert Gates warned cuts any deeper than the 78 billion dollars proposed by President Obama, would have ‘tragic consequences’.
Alex also welcomes back to the show trend forecaster, publisher of Trends Journal, and business consultant Gerald Celente. Alex also covers the latest news and takes your calls
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