Member Submitted News

Oct 03 04:16

NEXT CRISIS: MUNICIPAL BOND DEFAULTS

Word has reached my ear that Municipal Bond defaults will be the next "bloodbath" in the ongoing financial crisis.

Many investors bought Municipal bonds because they are usually "triple-tax-free" meaning they are not subject to local, state or federal taxes.

Investors also thought - wrongly - that municipal bonds were protected by a municipality's right to tax. The right to tax does NOT protect municipal bonds, only the full faith and credit of the municipality backs such bonds and that is where the trouble is going to come from.

Oct 03 02:36

President Bush: 'The economy is strong. The economy is strong ... whoops!'

We've heard President Bush say it, seemingly more times than even Google can count: Stop worrying. The American economy is strong. We are going through difficult times, perhaps, but the economy is strong. Ditto Treasury Secretary Henry M. Paulson Jr. and Ben S. Bernanke, the Fed chairman.

Oct 03 02:32

Vladimir Putin lashes US for economic failures

The Russian Prime Minister Vladimir Putin lashed out at the United States today for what he said was its inability to deal with the financial crisis affecting the global economy.

“And what is really sad is that we see an inability to take appropriate decisions. This is no longer irresponsibility on the part of some individuals, but irresponsibility of the whole system, which as you know had pretensions to (global) leadership."

Oct 03 02:30

How a Canadian cracked the Great Firewall of China

When Nart Villeneuve couldn't remember the password to his Chinese MySpace page, the industrious Canadian hacker began examining China's version of Skype, and in the process, unlocked the inner workings of an Internet surveillance network tracking thousands of political activists in the world's most populous nation.

Oct 03 01:47

What Palin says about McCain

For long, McCain derided selfish politics and defended experience as indispensable for presiding over America as it leads in a volatile world. Now, he has turned around and chosen the least experienced person on his list of candidates for strictly narrow electoral calculations.

Which begs the question, how could the 72-year-old Vietnam vet with a poor health record choose a running mate with poor experience to be only a "heartbeat away from the presidency"?

Oct 02 21:51

Avoid Flu Shots, Take Vitamin D Instead

Each one of these 100 million flu shots contain 25 micrograms of mercury, a mercury content that is 50,000 part per billion, 250 times more than the Environmental Protection Agency’s safety limit. Mercury is a neurotoxin, which has a toxicity level 1,000 times that of lead.

Oct 02 21:45

Secret Rulers of the World

From pirates to banksters, to the ruling elite who run the world’s finances, the media and cover both side of nearly every conflict or war: the world may make more sense after watching this.

Oct 02 20:35

Biden Brought Policy, Palin Talking Points

The first and only vice presidential debate was filled with talk of policy by Joe Biden, and talking points from Sarah Palin. If there was any doubt left that this woman doesn’t belong on a national ticket in any capacity, that doubt was answered tonight. Palin may have scored style points, but Biden is the person Americans should trust in the White House.

Oct 02 20:33

The VP Debate: The Strangest I've Ever Seen

Exactly an hour into the debate, Joe Biden began an answer by saying, "Facts matter, Gwen."

To him, maybe. To Sarah Palin, maybe not. The pattern, so far, has been one of Biden presenting facts and Palin countering with… saying stuff. Sometimes she throws in a fact, but mostly she seems to be offering a string of approximate policy positions, encomiums to the American spirit, disputed interpretations of Barack Obama's record and anecdotes from Alaska.

Oct 02 20:29

[Video] Palin’s “McClellan” Moment

She got the name of the top general in Afghanistan wrong. It’s actually “McKiernan.”

That can’t be good for people who think she’s inexperienced.

Oct 02 20:20

Debate Factcheck: Maliki Timeline

FACT: MCCAIN WON'T EMBRACE A TIMETABLE EVEN THOUGH MALIKI AND THE BUSH ADMINISTRATION HAVE AGREED ON A TIMETABLE

Oct 02 20:16

The Governor Has No Clothes

In a reasonable society, that should be it for Sarah Palin. She showed nothing in the debate that indicates she is ready to hold high office. Apparently some mainstream media types are applauding her for meeting their low expectations. Those of us in the real world saw someone who is unprepared, shaky, and capable of saying astounding things–her suggestion that the vice president should have more power and her follow-up statement that she agrees with Dick Cheney’s view of the office was absolutely stunning.

Oct 02 19:58

Bailout dish has heaping side of pork

Here we are, in the midst of the biggest financial crisis since the Great Depression, and the members of U.S. Senate are busy dispensing pork in a shameless fashion.

Oct 02 19:55

HOA Threatens to Take Homeowner's House Over $176

A west Houston woman could soon lose her home over $176 dollars.

Oct 02 19:36

Free Market Capitalism Or Corporate Fascism

On the right hand path walks freedom and liberty; on the left hand path walks slavery and fascism. The choice should be easy; it has been made to appear hard and confusing.

"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it."

Oct 02 19:26

Supporting this fund is an American duty.

Strategery is a unique hedge fund.

It is the largest in the world, with expected initial capital of $700 billion. It has a free and unlimited credit line should it need more. It has no fixed mandate, though it is expected to initially focus on mortgage-backed securities. And it is the only fund backed by the full faith and credit of the U.S. Government.

Oct 02 19:23

Horrid! Horrid! Horrid!

The bailout bill means total financial dictatorship. This bill gives the death penalty to capital markets. The execution will, if this passes, begin immediately and be stretched out over succeeding years.

Oct 02 16:35

BB&T President's letter to Congress

It is amazing to me that all of this is taking place without hearings. The best financial minds in the country are not being heard from or listened to. Read on:

Branch Bank & Trust Co.
200 West Second Street
P.O. Box 1250
Winston-Salem, NC 27102

September 23, 2008

Dear Senator/Congressman/Representative:

BB&T is a $136 billion multi-state banking company. We have 1,500 branches throughout the mid-Atlantic and southeast states. While we have been impacted by the real estate markets, we continue to have healthy profitability and a strong capital position.

Oct 02 15:47

Is John McCain Senile or a Sadist?

John McCain is telling the public that a bill he just voted for is "putting us on the brink of economic disaster."

This suggests one of two kinds of mental incapacity: Either McCain doesn't know he just voted for the bill (senility) or McCain does know he just voted for the bill and is proud that he therefore "put us on the brink of economic disaster" (extreme sadism).

Oct 02 15:32

Siena Poll: Obama Surges In NY

New York has returned to its "true blue" status, providing a 22-point lead (58-36) to Barack Obama over John McCain, today's Siena poll finds.

Just three weeks ago, Siena had Obama ahead by a mere five percentage points, leading Republicans to hope that a closer-than-expected presidential race might also improve their chances on maintaining control of the state Senate.

But Obama increased his lead among New York Democrats and is also now ahead among independents, among whom he was tied with John McCain in the last Siena poll.

Oct 02 15:26

What Coca-Cola Does to Your Stomach

There has been a lot of speculation about the effect of Coca Cola on the human stomach. There were those that said that the popular beverage could literally cause our intestines to melt if we drink to much of the stuff. Coca Cola always denied the rumors and said that their product is no worse than other soft drinks on the market and there was no official proof of the “dissolving effect“.

Oct 02 15:24

Breakdown Approaches Climax

Breakdown Approaches Climax
Jim Willie CB
Jim Willie CB is the editor of the "Hat Trick Letter"
Oct 2, 2008

Oct 02 15:21

McCain giving up on Michigan

In a major concession, Republican John McCain has abandoned efforts to win Michigan, a Democratic-leaning battleground state the GOP presidential candidate had hoped to capture.

Republican officials with knowledge of the strategy said the GOP nominee is removing staff, curtailing advertising and canceling visits to the Midwestern state, which offers 17 electoral votes. Resources will be sent to Ohio, Wisconsin, Florida and other competitive states.

Oct 02 15:18

Brennan Law Center Reports on Voter Purges

No matter who you’re voting for, I’m begging you to check that you’re registered. This election has to be clean, and that means that every eligible voter who wants to vote should be able to.

Oct 02 15:15

A Look at the ‘Clickjacking’ Web Attack and Why You Should Worry

There’s a nasty new security threat making waves on the web. Actually, clickjacking, as this attack is known, isn’t entirely new, but because no one has yet come up with an effective solution, it remains a serious threat. And clickjacking is the worst sort of security risk — it’s transparent to the unwitting user, simple to implement and difficult to stop.

Oct 02 15:10

Montana GOP Challenges Thousands of Voters in Blue Counties

Montana Republicans appear to be pulling one of the oldest tricks in the book to keep Democrats away from the polls this November.

The state party is challenging the eligibility of 6000 registered voters -- or almost one percent of registered voters in the state -- claiming that these voters are registered under incorrect addresses, reports the Missoulian. And many of the counties in which the challenges are occurring represent pockets of Democratic strength in the largely red state.

Oct 02 15:03

'Cannabis Is Safer Than Alcohol'

The Beckley Foundation's Global Cannabis Commission document said the cannabis ban had backfired and called for a "serious rethink" of drugs policy.

The ban has had little or no impact on supply and has turned users into criminals, it said.

"Although cannabis can have a negative impact on health, including mental health, in terms of relative harms, it is considerably less harmful than alcohol or tobacco," the report claimed.

Oct 02 14:47

Iraq: They Make It a Desert and Call It Peace

Eric Margolis

Those Wall Street financial alchemists who turned garbage into gold must have helped John McCain prepare for his debate with Barack Obama last Friday.

Senator McCain’s insistent claims that the US is winning the war in Iraq thanks to his "surge" strategy are the military-political equivalent of the junk securities that Wall Street’s shady financiers have been selling around the globe.

Oct 02 14:04

We don't break the rules - Iran

On the sidelines of the annual conference the International Atomic Energy Agency is holding in Vienna, Iran's ambassador to the agency spoke exclusively to RT about the treatment of his country by some UN member states saying its not his country that break the rules.
“It is a pity that those who are criticizing Iran have violated themselves their obligations. The US and France have been giving continuously information on nuclear technology to Israel and this is a clear violation, a real double standard,” said Iran’s representative to IAEA Ali Asghar Soltanieh.

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