Our Awful Situation

Fed Chief Gives Gloomier Outlook On US Economy

Posted in Ben Bernanke, Economy, Federal Reserve by Charlie Kilo on July 15th, 2008

Its just the beginning, Ben. But you already knew that:

A weakening housing market, a strained banking system, and rising oil prices threaten the U.S. economy, and restoring financial market stability is a top priority, Federal Reserve Chairman Ben Bernanke said on Tuesday.

It was a gloomier assessment than the central bank’s policy-setting panel gave in late June, when it said risks to economic growth had diminished somewhat.

Bernanke, in his semi-annual testimony on economic conditions to lawmakers Tuesday, acknowledged that financial markets had grown increasingly anxious in recent weeks, particularly over the financial condition of mortgage finance companies Fannie Mae and Freddie Mac.

He stressed that the outlook for economic growth and inflation was unusually uncertain.

Jim Rogers: Fannie and Freddie … let it die!

Posted in Banking, Bankruptcy, Economic Depression, Federal Reserve, Mortgages, Recession by Charlie Kilo on July 15th, 2008

Confidence Ebbs for Bank Sector and Stocks Fall

Posted in Banking, Credit Crisis, Economic Depression, Economy, Federal Reserve, Foreclosure, Housing Crisis, Inflation, Mortgages, Recession, Wall Street by Charlie Kilo on July 15th, 2008

No More Surprises!

Posted in Banking by Charlie Kilo on July 15th, 2008

The Biofuel Con

Posted in Biofuel, Energy, Global Warming by patriot on July 13th, 2008

Breaking: Paulson Seeks Authority to Shore Up Fannie, Freddie

Posted in Federal Reserve, Housing Crisis by Charlie Kilo on July 13th, 2008

The Week Ahead: Heavy Turbulence

Posted in Economic Depression, Stock Market by Charlie Kilo on July 13th, 2008

Massachusetts to consider allowing out of staters to marry

Posted in Homosexuality, Marriage by patriot on July 13th, 2008

Bill Moyers: Is the Fourth Estate a Fifth Column?

Posted in Conspiracy, Corruption, Fascism by Charlie Kilo on July 13th, 2008

Europe faces Russian nuclear missile threat

Posted in European Union, Missile Defense, Russia by Charlie Kilo on July 13th, 2008

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