Economic News: $9 Trillion in debt, $1 homes, 94% foreclosure increase and more
December 4, 2007, 6:41 pm
Filed under: business, dollar collapse, economy, housing market, news, politics, poverty, ron paul, US dollar

“There are 10^11 stars in the galaxy. That used to be a huge number. But it’s only a hundred billion. It’s less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.”  Richard Feynman

Averting WWIII, Ending Dollar Hegemony and U.S. Imperialism (Dissident Voice)

With 8 useful suggestions

The Geography of American Poverty (US Census Bureau)

IMF chief warns dollar may suffer ‘abrupt fall’ (Agence France Presse)

Video: Ron Paul on the Korelin Economic Report on Total Economic Collapse (YouTube)

U.S. debt tops $9 Trillion for the first time (Reuters)

Number of U.S. homes facing foreclosure doubles (Houston Chronicle)

The decline of the dollar to record lows might turn into a “more violent correction” that requires the United States, the European Union and Japan to intervene in foreign exchange markets, analysts at Morgan Stanley say. (Int’l Herald Tribune)

Markets feel banks have $1 Trillion in ‘toxic debt’ (Int’l Herald Tribune)

Ohio cities buying up foreclosed homes for $1 (Local NewsNet5)

No Money for Food: The world’s most vulnerable who spend 60% of their income on food have been priced out of the food market (Economist)

IPOD generation unlikely to become homeowners (Daily Reckoning UK via BitOfNews)

IPOD generation: currently 18-34.  Stands for Insecure, Pressurized, Overtaxed and Debt ridden.  I love it!

Gulf Arabs could drop dollar peg in unison (Reuters)

Does Goldman Sachs rule the world? (EconomicsBriefing)

More economic news …


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