Weekend Roundup - July 1, 2011

Mish - Top Chinese Auditor warns of coming local government defaults

Respect My Authoritie Pt. 1 - Ohio police beat, taser handicapped teen, tells neighbor trying to explain the boy's impediment to STFU

Geithner Leaving? End of the Obama Era?

The Oscar Award Winning Movie "Inside Job" In 8 Parts

Part 1




Part 2




Part 3




Part 4




Part 5




Part 6



Part 7




Part 8

Global Industrial Growth's Pace Has Peaked And Will Continue To Slow Down

Lakshman Achuthan, co-founder and managing director of the Economic Cycle Research Institute, says Global Industrial Growth has peaked and is slowing down. He also says the US Economy is going to slow down dramatically.

Specifically, this slowdown in the US will be at least a couple of quarters long, and possibly longer. Achuthan bases this call on long term indicators which does not include commodities or stock market indicators. It does, however, look at housing, profits, etc.

His firm follows 20 countries and he says this is a natural progression of the ebb and flow of the Global Economy business cycle.

2005 - Murdoch pays $580 Million for My Space; June 29, 2011 - Murdoch unloads My Space for around $35 Million

Bend over Greece, this is gonna hurt

Meredith Whitney: "Beware July 1st"

Global food production not able to keep up with demand

Corn and soybean prices on the rise again due to poorer US crop conditions

Bank of America about to settle for $8.5 Billion in losses suffered by investors in the bank's mortgage backed securities

Andy Beal's FDIC insured hedge fund

Greek Griftopia: Greece begins to lease and sell parts of its public wealth to satisfy global banksters

In the last 17 months, home prices in the 20 biggest US cities have not fallen as much as they did last month

The Painful Collapse of Empire: How the "American Dream" and American Exceptionalism Wreck Havoc on the World

Zero Hedge: "Bernankenstein's Monster"

A. Gary Shilling: "Why China Is Heading For A Hard Landing, Pt. 1"

Dr. Housing Bubble: "The end of Ponzi financing era in the United States and the World – When income, revenues, and swindles no longer support servicing debt. From California home owners, Greek bondholders, and Japanese zombie banks."

Mother Jones - "All Work And No Pay: The Great Speedup"

Golman Sachs 666: "Goldman Sach's Favored Status"

Charles Hugh Smith: "What If The Consensus Is Wrong?"

Jim Kunstler: "Suspended Agitation"

Financial Armageddon: "Looking Worse"