http://www.infowars.com/more-bad-news-1 ... c-numbers/The truth is that more bad news for the U.S. economy comes out almost daily now. The following are 10 things that you need to know about the latest econ0mic numbers….
1 – Gallup’s measure of unemployment, which is not adjusted for “seasonal factors”, showed a sharp increase in September. According to Gallup, unemployment has increased from 8.9% in July to 9.3% in August and to 10.1% in September.
2 – The seasonally-adjusted Alternate Unemployment Rate compiled by Shadow Government Statistics shows that the real unemployment rate in the United States is worse than it has been ever since the economic downturn began. The Alternate Unemployment Rate calculated by SGS reflects estimated “long-term discouraged workers”, which the U.S. government stopped keeping track of back in 1994….
3 – The number of Americans working part-time jobs “for economic reasons” is now the highest it has been in at least five decades.
4 – 15.8% of Americans between the ages of 18 and 29 were unemployed during the month of September.
5 – Agricultural commodities continued to move higher on Friday. Wheat, corn and soybeans all saw their prices soar. Unfortunately for American consumers, this is part of a broader trend of rising agricultural commodity prices. As this continues, it is inevitable that we will all be seeing much higher food prices at our local grocery stores.
6 – It is being reported that PNC Financial Services Group has suspended the sale of foreclosed homes for the next thirty days. This is the fourth major lender to take dramatic action recently. Will nearly all U.S. mortgage lenders eventually be caught up in this crisis before it is over?
7 – Bank of America announced on Friday that it is now going to suspend sales of foreclosed homes in all 50 U.S. states as it continues to evaluate internal foreclosure procedures. This “foreclosure crisis” threatens to decimate the entire U.S. real estate industry. What has happened is that millions of U.S. mortgages were sold and resold around the globe at lightning speed and the chain of ownership for many of these mortgages become muddied. In addition, it is starting to emerge that many of these lenders used fraudulent loan documents during foreclosure proceedings and company officials often used “robo-signers” to sign important foreclosure documents. So now mortgage lenders, title insurers and those buying or selling foreclosed homes will be facing years of gridlock and chaos as foreclosure-related lawsuits multiply exponentially. All of this is going to have a dramatic effect on the U.S. real estate market. In fact, it is being reported that U.S. home sales are already starting to be affected by this crisis.
8 – The U.S. National debt just keep growing. If you took the national debt and divided it up among all Americans, each American (including children) would owe approximately $42,000. So, for an average family of four, their share of the national debt would be $168,000.
9 – Interest payments on the U.S. national debt increased 13% in the fiscal year that ended September 30th. If interest payments continue to increase that rapidly each year they will bankrupt the U.S. government very quickly.
10 – It appears that some weird games are being played with the national debt numbers. Back on September 29th, the U.S. national debt was 13.466 trillion dollars. On September 30th, the U.S. national debt soared to 13.561 trillion dollars. Then on October 1st, the beginning of the new fiscal year for the federal government, the U.S. national debt jumped up to 13.610 trillion dollars. So how in the world does the U.S. national debt jump by a whopping 144 billion dollars in just two days? Somebody has some explaining to do for this kind of accounting.
The United States was once the wealthiest nation by far on the entire planet.
But now we are in such a rapid decline that it is hard for most Americans to even comprehend it.
We are like that one couple that almost every neighborhood seems to have that has two shiny new cars in their driveway, that dresses in designer clothes and that seems to have plenty of money to take vacations and yet is in debt up to their eyeballs.
27 Signs That The Standard Of Living For America’s Middle Class Is Dropping Like A Rock
http://www.pakalertpress.com/2010/10/10 ... t+Press%29
http://www.bbc.co.uk/news/world-south-asia-11489955Nato contractors 'attacking own vehicles' in Pakistan
The owners of oil tankers being used to supply fuel to Nato in Afghanistan say some of the attacks on their convoys are suspicious.
They say there is evidence to suggest that bombs have been planted in many of vehicles by the "Nato contractors" - individuals or companies who have been contracted by Nato to supply fuel and goods to forces in Afghanistan.
The contractors subsequently hire the transporters who then carry the goods.
Selling fuel
Dost Mohammad, an oil tanker owner from Nowshera district, said a Nato contractor had recently been caught trying to plant a bomb in an oil tanker.
"This happened in the area of Paiyee, when he was putting the bomb under the vehicle."
"At that time, a few men also opened fire on the tankers. The deputy later told the police that he had been told to plant the bomb by the contractor."
Dost Mohammad said the contractor had apparently sold off the fuel first.
"Only 2,000 litres from the original 50,000 litres had been left in the tanker to cover up the crime," he said.
Dost Mohammad said it is a win-win situation for the contractors.
"If an old vehicle is burnt, Nato gives them money for a new vehicle. In addition, they receive compensation for all the fuel lost as well."
US repeatedly threatened to use nukes on N. Korea: declassified documents
http://www.rawstory.com/rs/2010/10/repe ... documents/
A Window Into the Mind of a Scientific Dictator
http://oldthinkernews.com/Articles/oldt ... a_scie.htm
JOE “RAGMAN” TARNOVSKY: Possible Future Draft?
http://www.veteranstoday.com/2010/10/09/53605/
http://www.veteranstoday.com/2010/10/09 ... istan-war/RESTREPO: the Platoon Movie of Afghanistan War
Everything I saw in the movie begged one question “why are we there?”
Nothing the soldiers did, no matter how brave.
Nothing they sacrificed including their lives did anything to defend American freedom or prevent a terrorist attack, which supposedly are the two main reasons for being there.
By Jonathan Kim
US Base Guards in Afghanistan Tied to Taliban
http://www.infiniteunknown.net/2010/10/ ... Unknown%29
Report condemns US funding of Taliban
http://www.euronews.net/2010/10/08/repo ... f-taliban/
US funding for the Taliban: Can it be stopped?
http://www.globalpost.com/dispatch/afgh ... an-funding
Senate: U.S. Military Indirectly Funding Enemy Afghan Warlords
http://www.allheadlinenews.com/articles ... 20Warlords
U.S. Military Contracts Funding Taliban
http://www.thedailybeast.com/cheat-shee ... on-terror/
'Private security firms funding Taliban'
http://www.presstv.ir/detail/145740.html
MoD probes claim that soldiers are smuggling heroin from Afghanistan
http://www.dailymail.co.uk/news/worldne ... cking.html
Afghan Heroin Under Attack On Two Fronts
http://www.strategypage.com/htmw/htterr ... 01007.aspx
Heroin allegations bogus: Canadian military
http://www.cbc.ca/canada/story/2010/09/ ... diers.html
Afghanistan Drug Market
http://www.globalsecurity.org/military/ ... market.htm
Probe into Afghanistan troops' heroin trafficking claims
http://www.independent.co.uk/news/world ... 77428.html
Afghan heroin is flooding the United States
http://www.paktribune.com/news/index.shtml?164774
Afghanistan: Heroin-ravaged State
http://www.globalresearch.ca/index.php? ... &aid=13524
Is the Military Ignoring Its Heroin Problem in the Ranks?
http://www.alternet.org/drugs/143447/is ... the_ranks/
Janet Tavakoli On The "Biggest Fraud In The History Of Capital Markets"
http://www.zerohedge.com/article/janet- ... to+zero%29
Mortgage Broker Association strategic default
http://www.angrybearblog.com/2010/10/mo ... ry+Bear%29
http://www.calculatedriskblog.com/2010/ ... ed+Risk%29Duration of Unemployment
This graph shows the duration of unemployment as a percent of the civilian labor force. The graph shows the number of unemployed in four categories: less than 5 week, 6 to 14 weeks, 15 to 26 weeks, and 27 weeks or more.
Note: The BLS reports 15+ weeks, so the 15 to 26 weeks number was calculated.
In Setpember 2010, the number of unemployed for 27 weeks or more declined to 6.123 million (seasonally adjusted) from 6.249 million in August. It appears the number of long term unemployed has peaked, but it is still very difficult for these people to find a job - and this is a very serious employment issue.
The 5 to 14 week category declined in September, however the less than 5 week category continued to increase - and is now at the highest level since January 2010.
The less than 5 week category shows how the turnover in the labor market has changed. Back in the '70s and '80s there was much more turnover in the labor market. And that added turnover is a key reason the overall unemployment rate was higher in the early '80s recession than right now.
Note: Even though these numbers are all seasonally adjusted, they can't be added together to calculate the unemployment rate.
Unofficial Problem Bank List 877 Institutions
http://www.calculatedriskblog.com/2010/ ... ed+Risk%29
Bank of America has $2.3 trillion in assets but $956 billion of that is made up in loans. Think those loans are valued at current market levels? The FDIC would have a challenge even breaking up one too big to fail bank.
http://www.mybudget360.com/bank-of-amer ... -in-loans/
