Business Insider: The Secret Of Bridgewater's Success Is In Its Understanding Of The Recession"

The Automatic Earth: "Global Demise Of Pension Plans"

Mish shows us that the Australian Housing Crash is now "ON"

Republicans to discuss putting US back on the gold standard, which would explode gold prices to $10,000 an oz. and beyond

Dr. Housing Bubble blog looks at housing's future with a shrinking middle class and an overburdened younger demographic

Gasoline/Oil Futures Jump On Hurricane Issac Closures In The Gulf And the Massive Refinery Explosion In Venezuela

Marc Faber Says The Next Financial Crisis Will Be "Huge"

"Greed, Greed, And Fuckin' More Greed!" An Angry Irishman Vents About Banksters, The Credit Crisis And The Collapse Of The Celtic Tiger Economy

I love this guy, whoever he is. And I love how he tells the interviewer to Fuck Off at th end of the interview. This is the kind of truth you will not hear on mainstream TV in America:

"OVERDOSE", The Movie About The Next Deepening Financial Crisis Due To The Bailout Bubble

OVERDOSE - Part 1 of 3






OVERDOSE - Part 2 of 3






OVERDOSE - Part 3 of 3

Econopocalypse: David Harvey's Talk At The Royal Society Of Arts Taken Up A Notch With Whiteboard Doodles

Walk Away From Your Mortgage!

From the New York Times Magazine article "Walk Away From Your Mortgage" which this video is referencing:

John Courson, president and C.E.O. of the Mortgage Bankers Association, recently told The Wall Street Journal that homeowners who default on their mortgages should think about the “message” they will send to “their family and their kids and their friends.” Courson was implying that homeowners — record numbers of whom continue to default — have a responsibility to make good. He wasn’t referring to the people who have no choice, who can’t afford their payments. He was speaking about the rising number of folks who are voluntarily choosing not to pay.

Such voluntary defaults are a new phenomenon. Time was, Americans would do anything to pay their mortgage — forgo a new car or a vacation, even put a younger family member to work. But the housing collapse left 10.7 million families owing more than their homes are worth. So some of them are making a calculated decision to hang onto their money and let their homes go. Is this irresponsible?

Businesses — in particular Wall Street banks — make such calculations routinely. Morgan Stanley recently decided to stop making payments on five San Francisco office buildings. A Morgan Stanley fund purchased the buildings at the height of the boom, and their value has plunged. Nobody has said Morgan Stanley is immoral — perhaps because no one assumed it was moral to begin with. But the average American, as if sprung from some Franklinesque mythology, is supposed to honor his debts, or so says the mortgage industry as well as government officials. Former Treasury Secretary Henry M. Paulson Jr. declared that “any homeowner who can afford his mortgagepayment but chooses to walk away from an underwater property is simply a speculator — and one who is not honoring his obligation.” (Paulson presumably was not so censorious of speculation during his 32-year career at Goldman Sachs.)

Elizabeth Warren on "Life After Tarp" or "How We've Increased Moral Hazard In The Finance Sector"

Here's hoping that Elizabeth Warren will quit teaching at Harvard and leave her Congressional post for a run at the Presidency.