20 November 2008, 8:05 pm
What says you? 1. America's credit rating may soon be downgraded below AAA 2. Fed refusal to disclose $2 trillion loans, now the new "shadow banking system" 3. Congress has no oversight of $700 billion, and Paulson's Wall Street Trojan Horse 4. King Henry Paulson flip-flops on plan to buy toxic bank assets, confusing markets 5. Goldman, Morgan lost tens of billions, but planning over $13 billion in bonuses this year 6. AIG bails big banks out of $150 billion in credit swaps, protects shareholders before taxpayers 7. American Express joins Goldman, Morgan as bank holding firms, looking for Fed money 8. Treasury sneaks corporate tax credits into bailout giveaway, shifts costs to states 9. State revenues down, taxes and debt up; hiring, spending, borrowing add more debt 10. State, municipal, corporate pensions lost hundreds of billions on derivative swaps 11. Hedge funds: 610 in 1990, almost 10,000 now. Returns down 15%, liquidations up 12. Consumer debt way up, now $2.5 trillion; next area for credit meltdowns 13. Fed also plans to provide billions to $3.6 trillion money-market fund industry 14. Freddie Mac and Fannie Mae are bleeding cash, want to tap taxpayer dollars 15. Washington manipulating data: War not $600 billion but estimates actually $3 trillion 16. Hidden costs of $700 billion bailout are likely $5 trillion; plus $1 trillion Street write-offs 17. Commodities down, resource exporters and currencies dropping, triggering a global meltdown 18. Big three automakers near bankruptcy; unions, workers, retirees will suffer 19. Corporate bond market, both junk and top-rated, slumps more than 25% 20. Retailers bankrupt: Circuit City, Sharper Image, Mervyns; mall sales in free fall 21. Unemployment heading toward 8% plus; more 1930's photos of soup lines in addition Government warns of "catastrophic" U.S. quake (FEMA & the New Madrid Seismic Zone) The Federal Emergency Management Agency said if earthquakes strike in what geologists define as the New Madrid Seismic Zone, they would cause "the highest economic losses due to a natural disaster in the United States." FEMA predicted a large earthquake would cause "widespread and catastrophic physical damage" across Alabama, Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee -- home to some 44 million people. Tennessee is likely to be hardest hit, according to the study that sought to gauge the impact of a 7.7 magnitude earthquake in order to guide the government's response. Apostle Jess I also think the Tribulation started in October 2008... Read More »
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