"A prudent man forseeth the evil, and hideth himself: but the simple pass on, and are punished."   Proverbs 22:3 and Proverbs 27:12  KJV   Word study on this verse

 Oprah And Tolle Fuel New Age Revival newswithviews.com 3/31/8 ["This "awakening" is a natural part of the postmodern rejection of truth. Neither facts, logic, nor Biblical faith are relevant to the new spirituality. So it's not surprising that Eckhart Tolle, celebrated author of "A New Earth," dismisses them all as "form" or "ego:" distracting "attachments" that block awareness of oneness with "God.""]
 States fight as REAL ID deadline nears csmonitor.com 3/31/8 ["Montana is one state that's been opposed to the DHS requirements. Rather than request an extension, it sent DHS a letter explaining what it's already doing to strengthen licenses. Still, DHS responded on March 21 by granting an extension. New Hampshire, another REAL ID holdout, took a similar path with DHS and also got an unasked-for extension last week."]
 Muslims more numerous than Catholics: Vatican uk.reuters.com 3/31/8 ["Formenti said that while the number of Catholics as a proportion of the world's population was fairly stable, the percentage of Muslims was growing because of higher birth rates."]
 

 Ultimate Fights Expand to Include Kids ap.google.com 3/30/8 ["The sport, which is also known as mixed martial arts or cage fighting, has already spread far beyond cable television. Last month, CBS became the first of the Big Four television networks to announce a deal to broadcast primetime fights. The fights have attracted such a wide audience, they are threatening to surpass boxing as the nation's most popular pugilistic sport."]
 US to propose sweeping new powers for Fed: report afp.google.com 3/30/8 ["Citing a summary of the plan provided by the administration, The New York Times reported Saturday the Fed will gain the power to investigate any activities of financial institutions that threaten US economic stability, gather information and combat risks to the financial system as a whole.  The plan will be proposed on Monday, the paper said."]
 High-flying egg prices show no sign of cracking marketwatch.com 3/30/8 ["A dozen eggs cost $2 or more in most U.S. cities, up about 45% in just eight months."]
 Equity Loans as Next Round in Credit Crisis nytimes.com 3/30/8 ["Lenders also encouraged many aspiring homeowners to take out not one but two mortgages simultaneously — ordinary ones plus “piggyback” loans — to avoid putting any cash down."]
 

 84 year-old woman who had abortion 57 years ago still suffers depression catholicnewsagency.com 3/29/8 ["Asked if she has every forgotten it, she is adamant. “No, I never forgot about it. I thought about it day and night and I tried to do things to forget it. But it has come back now very strong. The memory of that abortion has never left me, I have been depressed ever since,” Maria said.  “Some think abortion is painful but eventually passes. The case of Maria is evidence that the effects can remain for one’s entire life,”"]
 Oprah and Eckhart Do the New Age Shift crossroad.to 3/29/8 [By Warren Smith  "I stared at the huge stack of books in the Barnes & Noble bookstore. The title of the book was A New Earth: Awakening to Your Life Purpose. The title sounded like a new book by Purpose-Driven pastor Rick Warren, but it was actually the latest selection in Oprah’s Book Club.  ...It was clear to me that Oprah was no longer content to just popularize New Age beliefs, she would now teach them. This was a bold move by a woman who was obviously willing to do everything in her power – which is considerable – to convert the world to her New Age worldview."]
 Chinese exporters shun flagging dollar ft.com 3/29/8 ["According to Alibaba.com, the online company that matches Chinese suppliers with international buyers, the vast majority of their almost 700,000 Chinese suppliers no longer use dollars to settle non-US transactions in order to minimise foreign exchange risk.  "They are moving to euros, pounds, Australian dollars or even quoting prices in renminbi," David Wei, chief executive, told the Financial Times. Moreover, he added, prices quoted in dollars were now often valid for just seven days compared with the 30-60 days common previously."]
 ECB to offer markets 150 billion euros as analysts warn of wider crisis afp.google.com 3/29/8 ["150 billion euros (235 billion dollars) in additional liquidity, including its first ever six-month refinancing operations.  An ECB statement said the move was "aimed at supporting the normalisation of the functioning of the euro money market."  ...problems were spreading beyond financial markets, making it harder to fund business operations that required money for longer periods of time."]
 'Earth Hour' to plunge millions into darkness afp.google.com 3/29/8 ["Twenty-six major cities around the world are expected to turn off the lights on major landmarks, plunging millions of people into darkness to raise awareness about global warming, organisers said.  'Earth Hour' founder Andy Ridley said 371 cities, towns or local governments from Australia to Canada and even Fiji had signed up for the 60-minute shutdown at 0900 GMT on March 29."]
 $100bn Fed move over credit fears news.bbc.co.uk 3/29/8 ["The US Federal Reserve will make a further $100bn (£50bn) available to major banks in April, trying to ease concerns about a global credit crunch.  The sum, offered across two auctions, is in addition to $260bn provided in short-term loans to the end of March. "]
 

 The Death Of Shame newswithviews.com 3/28/8 [By Coach Dave Daubenmire  "“You know the problem with most of you in here?” I declared to the room full of cultural-misfits. “You are ashamed of what you should be proud of and proud of what you should be ashamed of.”"]
 New Orders for Goods Fall Sharply nytimes.com 3/28/8 ["Faced with an economic slowdown and a deep housing slump, American manufacturers have been reluctant to make large investments, sending new orders for durable manufactured goods down 1.7 percent in February, the Commerce Department said on Wednesday.  The decline follows a 4.7 percent drop in January, which was revised slightly higher."]
 Arkansas Flooding Drowns Fields, Futures ap.google.com 3/28/8 ["Last year, Arkansas produced about 28.7 million bushels of wheat. Now, muddy waters have run through fields for days, taking with it expensive fertilizer treatments already applied to the soil.  Some of the wheat, green this time of year and looking like tall grass, has survived, wheat expert Jason Kelley, of the University of Arkansas Cooperative Extension Service, said Thursday. But grain under water for a week or more likely won't make it."]
 Doctor Says about "Brain Dead" Man Saved from Organ Harvesting - "Brain Death is Never Really Death" lifesitenews.com 3/28/8 ["Dr. Byrne, on the other hand, told LifeSiteNews.com that Zack's story should be taken as a warning about the insufficiency of the brain death criteria. "While this story tells the young man hearing them talking about his declaration of brain death, the question is, is how many of the other organ donors are in a similar situation, that the only thing is that they end up getting their organs?" he said."]
Jeffco's money woes to affect the whole state al.com 3/28/8 [" Financial Security Assurance, probably the biggest still-healthy insurer of municipal bonds since the mortgage crisis knocked the top insurers off their muni throne, has blacklisted the entire state of Alabama.  All because of Jefferson County. "]
 Corporate liquidity begins to dry up financialweek.com 3/28/8 ["Cash and short-term investments of non-financial companies dropped by $250 billion in the second half of 2007, the first decline in the nine years that consultancy Treasury Strategies has been tracking the data."]
 

 The Worst Is Yet To Come newswithviews.com 3/27/8 [By Paul Proctor  "In the near term, I suspect there will be a lot of talk that the worst is all behind us and that things are starting to look better in certain segments of the economy. This kind of propaganda is likely to be repeated over and over again on the evening news to try and prop up consumer confidence in the face of rising prices, declining demand and plummeting profits."]
 Derivative Dangers Threaten Global Markets cbn.com 3/27/8 ["Add up the gross domestic product for all the world and it comes to about $50 trillion.  But now there's a wild trade going on between investors in something called "derivatives" that adds up to more than $700 trillion."  Editor: Article has a good explanation for derivatives.]
 Grain prices soar globally csmonitor.com 3/27/8 ["While rice production is rising, consumption is growing faster. The US Department of Agriculture forecast rice stocks to fall to their lowest level since the mid-1970s, and wheat stocks are projected to hit their lowest point since 1946, the year after World War II ended.  These factors, combined with a falling US dollar, steadily rising demand from developing countries, and biofuel policies that mop up excess cereal production, have all helped boost world prices. "]
 Philippines Imports Rice Amid Shortage ap.google.com 3/27/8 ["The Philippines consumes about 13.1 million tons of rice annually, most of which is grown domestically. But dwindling domestic production and corruption in the rice supply chain have created a recurrent shortfall of about 10 percent. The government has to purchase about 2.2 million tons from the international market every year, making the Philippines the world's biggest rice importer."]
 Outsourced passports netting govt. profits, risking national security washingtontimes.com 3/27/8 ["Lawmakers said they were alarmed by The Times' findings and plan to investigate why U.S. companies weren't used to produce the state-of-the-art passports, one of the crown jewels of American border security."]
 Recession in U.S. Sows Slower Growth, Weaker Dollar bloomberg.com 3/27/8 ["Americans sense that the economy is changing for the worse. Some 45 percent of consumers expect their inflation-adjusted incomes to fall in the coming year, the worst outlook since 1990, according to a University of Michigan/Reuters survey.  ...``We've been spending more than the economy's been producing,'' former Fed Chairman Paul Volcker said March 18 on the Charlie Rose television show. ``So we have been depending increasingly on foreign finance -- monies coming from abroad.''"]
 "The View" Hosts Whoopi Goldberg, Joy Behar Defend Jack Kevorkian's Murder, Suicides lifenews.com 3/27/8 ["...longtime hosts of the chatty television program "The View," praised Jack Kevorkian in a recent episode. Following news that Kevorkian has planned a Congressional bid, they praised him for killing more than 130 people in assisted suicides and murdering a disabled patient."]
 Australian building Stonehenge copy mercurynews.com 3/27/8 ["Another full-size, intact replica of Stonehenge overlooks the Columbia River in Maryhill, Wash. It was built as a cement memorial the area's World War I dead."]
 Leading Political Party in Belgium Calls for Euthanasia for Teens and Children lifesitenews.com 3/27/8 ["The Leader of the Belgium Liberals, the primary Party in the Belgian coalition Government, has called for legal euthanasia to be permitted for teens and children. The 2002 law which permitted euthanasia on newborns and terminally ill patients suffering "constant and unbearable physical or psychological pain" currently restricts euthanasia to newborns and those over 18 years of age."]
 Spy-in-the-sky drone sets sights on Miami uk.reuters.com 3/27/8 ["A small pilotless drone manufactured by Honeywell International, capable of hovering and "staring" using electro-optic or infrared sensors, is expected to make its debut soon in the skies over the Florida Everglades."]
 

Bear Stearns staff face reality of buyout reuters.com 3/26/8 ["...resignation, bitterness and anger gripped Bear staffers, who are also major shareholders, as they bustled into the fallen investment bank's headquarters on a crisp, clear day in New York.  The new offer, while higher, was 88 percent below the stock's value a month ago, wiping out what was for many the bulk of their personal wealth."]
Penalty for Pharmacist's Refusal Upheld ap.google.com 3/26/8 ["The 3rd District Court of Appeals ruled that the punishment the state Pharmacy Examining Board handed down against pharmacist Neil Noesen did not violate his state constitutional rights, specifically his "right of conscience" to religiously oppose birth control."]
Food stamps double since '01 dispatch.com 3/26/8 ["Nearly one in 10 Ohioans now receives food stamps, the highest number in the state's history.  ...Recipients receive $100 a month. The federal government pays for the benefits while the state covers administrative costs.  But as the price of milk, fruits and other groceries climb, advocates say, recipients can buy less and less with that $100."]
Israel Recognizes Two Fathers in Landmark Homosexual Adoption Case lifesitenews.com 3/26/8 ["Attorney hopes decision will encourage other homosexual couples to adopt"]
Malta Government Won't Legalize Abortion Despite Council of Europe Pressure lifenews.com 3/26/8 ["The government of Malta has no plans to legalize abortions despite pressure from the Council of Europe for it, Poland and Ireland to ditch their pro-life laws protecting unborn children. The Maltese government may approve sending a representative to the group to explain its position.  The Parliamentary Assembly of the Council of Europe has called for an end to all laws prohibiting abortions within its member states."]
Thinking the unthinkable: what if it's not that bad reuters.com 3/26/8 [""To justify a repeat of last week, you really have to start believing this is going to be 1929 again," said Jim O'Neill, chief global economist at Goldman Sachs. "With the Fed moving so quickly, I think that is unlikely.""]
Wall Street May Face $460 Bln in Losses, Goldman Says bloomberg.com 3/26/8 ["in credit losses from the collapse of the subprime mortgage market, or almost four times the amount already disclosed, according to Goldman Sachs Group Inc. Profits will continue to wane, other analysts said."]
 

JPMorgan May Raise Bid for Bear Stearns, NYT Says bloomberg.com 3/25/8 ["Bear's financial troubles began in July, when two hedge funds that invested in securities tied to U.S. subprime mortgages collapsed. The firm, once the biggest underwriter of U.S. mortgage bonds, had to bail out the funds and take possession of many of the instruments."]
At island retreat, Branson and friends seek to save a world 'on fire' iht.com 3/25/8 ["...his high-powered visitors, among them Larry Page of Google, Jimmy Wales of Wikipedia and Tony Blair, the former British prime minister, thought global warming threatened the planet.  ...Blair, who is now a senior adviser to JPMorgan Chase...  Much of the weekend was spent hashing over ideas in Branson's new open-air yoga pavilion."]
Back To The 1930s - "Papiere, Bitte" newswithviews.com 3/25/8 [By Dennis L. Cuddy, Ph.D.  "A global reduction of credit is leading to a global sale of assets at lower and lower prices, which in turn will affect the global derivatives market, etc. Pat Wood characterizes what’s going to happen as the equivalent of what happened to Enron but on a global scale, and the economies of all the nations of the world will plummet together.  This will result in the world’s population submitting to the power elite’s “International Planning” (for International Socialism) whereby they will manage the world’s (and each nation’s) economy."]
States urged to comply with ID rule usatoday.com 3/25/8 ["Millions of residents of three states will soon face tougher and longer screening at airport checkpoints if their governors defy a federal law requiring new, more-secure driver's licenses.  Maine, New Hampshire and South Carolina have until March 31 to say whether they plan to comply with the law, which they say is costly and will inconvenience residents by forcing them to get new licenses.  If the states don't comply, the Homeland Security Department will bar travelers from using those state's licenses and ID cards to board airplanes starting May 11."]
Desperate for cash, many in U.S. taking high-interest 'payday' loans iht.com 3/25/8 [""When distressed homeowners come to us, it usually takes a while before we find out if they have payday loans because they don't mention it at first," said Lindsey Sacher, community relations coordinator at the nonprofit East Side Organizing Project during a recent tour of the district. "But by the time they come to us for help, they have nothing left.""]
World Food Program in $500m shortfall abc.net.au 3/25/8 ["...caused by the rapid increase in food and energy prices over recent months.  The WFP says the cost of purchasing food has risen by more than 50 per cent since last June, and has again increased significantly since February."]
Home equity falls below 50% for first time on record usatoday.com 3/25/8 ["The average homeowners' equity — the market value minus mortgage balance — fell to 47.9% at the end of 2007, the Federal Reserve reported Thursday. The Fed also issued revisions to earlier reports indicating that, for the first time in record keeping dating back to 1945, home equity was below 50% for the last nine months of 2007.  ...Economy.com estimates that by the end of March, 8.8 million homeowners, about 10% of homes, will have mortgage balances that equal or exceed the value of the property. The situation "is only going to get worse," Zandi says."]
 

Fed's rescue halted a derivatives Chernobyl telegraph.co.uk 3/24/8 ["We may never know for sure whether the Federal Reserve's rescue of Bear Stearns averted a seizure of the $516 trillion derivatives system, the ultimate Chernobyl for global finance."]
The Death of the "Dollar" newswithviews.com 3/24/8 [By Alan Stang  "How could you merge a country so far above the others? Obviously, you can’t. And you can’t bring those other countries up here. Only they can do that; only those other countries can raise themselves. The only way you could do it is to reduce the United States, bring it to its knees. You could merge this country with the others only if you lower it to their level.  When the nation is at par, you can merge it. Indeed, in classic Hegelian dialectical fashion, you can present the merger as the solution, as the way to end the panic."]
British government confident about embryo bill reuters.com 3/24/8 ["The British government is confident it can push through legislation allowing human-animal embryo research, as calls for a free vote on the sensitive bill grew..."]
Bank of America may face $6.5 bln loan loss-analyst guardian.co.uk 3/24/8 ["...the largest U.S. retail bank, may set aside a record $6.5 billion in the first quarter to cover possible future loan losses, including in its mortgage and home equity portfolios, according to a banking analyst."]
Resist the Impulse to Panic Over Finances nytimes.com 3/24/8 ["Since most banks are insured by the Federal Deposit Insurance Corporation, your accounts are insured up to $100,000. In addition, most individual retirement accounts and Keogh retirement accounts held by those institutions are insured up to $250,000.  “The F.D.I.C. is about as safe as it gets in this world,” Mr. Daugherty said."]
 

Central banks mull buying mortgages: report marketwatch.com 3/23/8 ["The U.S. Federal Reserve and some of its European counterparts are talking about the practicality of using public money to buy large quantities of mortgage-backed assets to clean up the credit mess jeopardizing global economic growth, the Financial Times reported Saturday."]
Canada orders ministry by Christians shut down worldnetdaily.com 3/23/8 ["The Canadian government has ordered a Christian ministry that teaches doctrine and the differences between Christians and cults shut down because its reference materials were "critical" of the beliefs of those who are not Christian..."]
Truckers Slowing Down to Save Fuel ap.google.com 3/23/8 ["Fuel accounts for about a quarter of carriers' operating costs, and now is surpassing labor as the biggest expense for some carriers, said Tiffany Wlazlowski, a spokeswoman for the Arlington, Va.-based American Trucking Associations.  "And rising fuel costs do increase the cost of consumer goods," she said.  Trucks haul 70 percent of all freight tonnage in the U.S., according to the American Trucking Associations."]
CIT Group Draws on Its Credit Line nytimes.com 3/23/8 ["the commercial finance company, said Thursday that it was drawing on $7.3 billion of bank lines to help conduct daily operations, a move that highlights the commercial finance company’s difficulty in raising cash to pay off debt."]
 

Threatened Oklahoma Politician Refuses to Apologize for Saying Homosexuality is Dangerous and Sinful lifesitenews.com 3/22/8 [""I see no reason to apologize for what God says, that homosexuality is a sin, I will not apologize. I did not say anything false. I did not say anything malicious or hateful."  ...Oklahoma House Representative Sally Kern is standing firm in her convictions on the immorality and danger of the homosexual lifestyle, despite some 30,000 emails condemning her, many of which included hateful rhetoric and some death threats.  ...A teacher by background, she noted that children from the earliest ages in school are indoctrinated to accept homosexuality as a normal alternative lifestyle."]
If the bailout comes, watch for a dollar dive: James Saft reuters.com 3/22/8 ["If the United States bails out the financial system by buying mortgage debt directly, the price just might be surging inflation and a dollar crisis.  Calls are increasing for the government, either directly or via the Federal Reserve, to cut the knot of the credit crisis at a stroke by buying up mortgages that banks and investment banks are finding difficult to finance."]
Last Hope in a Weak Economy? Mom and Dad ap.google.com 3/22/8 ["Parents "jeopardize their financial freedom by continuing to subsidize their children," said Karin Maloney Stifler, a financial planner in Hudson, Ohio, and a board member of the Financial Planning Association. "We have a hard time saying no as a culture to our children, and they keep asking for more.""]
IMF increases scrutiny of sovereign wealth funds afp.google.com 3/22/8 ["The Abu Dhabi Investment Authority (ADIA) of the United Arab Emirates and Singapore's Government Investment Corporation (GIC), which control funds with estimated assets of hundreds of billions of dollars, are two of the world's biggest funds."]
Cliff Notes on Financial Maelstrom kitco.com 3/22/8 [By Jim Willie CB  "The other story not told is that a liquidation of Bear Stearns would inevitably have resulted in a massive credit derivative meltdown. The consequences cannot be estimated. The derivative upside down pyramid is mammoth. No precedent exists for its partial unwind or dissolution. The pyramid holds together the entire USTreasury complex, attached to interest rate swaps, attached to credit default swaps of various types, and so on. This pyramid is leveraged 70 to 1. The talk is funny though, since the USFed has backstopped only $30 billion in Bear Stearns securities. What about the other $800 to $1500 billion rancid bonds floating within striking distance to Wall Street and major bank balance sheets?"]
The Subprime Crisis Is Just Starting news.goldseek.com 3/22/8 [By Daniel R. Amerman, CFA "Which brings up the question of what will happen to subprime and other mortgage derivative securities in 2008 if actual stress tests do occur in such possible forms as recession, increases in interest rates, or a further plunge in housing values? Given that the safety margins have already been stripped bare? As we will explore, should one of those stress tests occur – or worse, if two or three occur together – then we may look back at 2007 as being a mere stroll in the park in comparison."]
Bankruptcy may be best option for debt-laden Jefferson County, two county officials say al.com 3/22/8 [" A Jefferson County filing under Chapter 9 of the U.S. Bankruptcy Code would be the largest municipal bankruptcy in U.S. history, outstripping the 1994 collapse of Orange County, Calif.  Alabama's most populous county has a total of $4.6 billion in debt; its sewer debt alone is nearly twice the $1.7 billion Orange County owed when it went bankrupt.  ...In Orange County about 1,600 county workers lost their jobs. Every county program was cut. The saga lives on among financial professionals, who use "Orange County" as a euphemism for catastrophic failure caused by public officials who don't understand what they are doing."]
Affluent homeowners, too, have mortgage problems iht.com 3/22/8 ["Just like those other buyers, these more affluent consumers took out adjustable rate mortgages, or ARMs, to buy houses they would otherwise not have been able to afford at the peak of the housing bubble in 2005 and early 2006. Or some refinanced existing mortgages to take cash out for businesses or other investments."]
Plundering The Public Purse newswithviews.com 3/22/8 [By Patrick Wood  "Had Bear Stearns been allowed to collapse, it would have set off a domino effect that could have taken down major commercial banks as well as other investment banks and brokerages."]
Bear Stearns staff auction off teddies, T-shirts, memorabilia afp.google.com 3/22/8 ["Many of the bank's 14,000 staff are expected to lose their jobs as a result of its downfall, and the ad for the toy bear warned that potential purchasers would have to pay up front."]
 

Good Friday! Happy Purim, Eid, etc... time.com 3/21/8 ["on this particular Friday, March 21, it seems almost no believer of any sort will be left without his or her own holiday. In what is statistically, at least, a once-in-a-millennium combination, the following will all occur on the 21st:"]
CIT Taps $7.3 Billion of Bank Lines Amid `Disruption' bloomberg.com 3/21/8 ["CIT Group Inc. shares and bonds plunged after the largest independent U.S. commercial finance company fell victim to the freeze in short-term debt markets.  The company drew on its entire $7.3 billion of emergency credit lines today after ratings downgrades left it unable to finance itself with commercial paper, or debt due in nine months or less."]
Leery Lenders Demand More From Borrowers ap.google.com 3/21/8 ["Mortgage insurers, whose backing is required for borrowers who can't afford the traditional 20 percent down payment on a home, have already flagged nearly a quarter of the nation's ZIP codes where they refuse to insure some home loans.  That encompasses a wide variety of neighborhoods: McMansions in Scottsdale, Ariz.; luxury Miami condos; 1960 ranch houses in Flint, Mich.; and early 20th century kit homes in Metuchen, N.J."]
Study: Small planes financially obsolete mercurynews.com 3/21/8 ["A study released Thursday by an aviation consulting firm finds that surging fuel prices have left many of the world's airliners "economically obsolete" because they are simply too expensive to operate.  Most at risk are smaller regional jets, especially those with fewer than 50 seats, that are used to connect smaller airports to larger hubs, according to the aircraft fleet forecast by The Boyd Group in Evergreen, Colo. "]
Citigroup cuts 2,000 jobs: source reuters.com 3/21/8 ["...as the largest U.S. bank moves to lower costs after subprime mortgage and credit problems led to a record quarterly loss.  The cuts are on top of 4,200 job losses announced in January..."]
Members of Congress Sign Letter Asking For Complete Cut in Abstinence Funding lifenews.com 3/21/8 ["Several dozen members of Congress, all abortion advocates, have signed a letter to House Appropriations Committee Chairman David Obey asking him to cut all funds for abstinence education. They don't want any money spent in the FY 2009 Health and Human Services appropriations bill spent on abstinence.  ...While the federal government continues to fund the programs, there are now 17 states that have rejected the funding."]
Reversal of fortunes marketwatch.com 3/21/8 ["Sinking home values call for property tax reassessments"]
 

Bank of England injects funds into short-term money markets iht.com 3/20/8 ["The central bank's move to ease tight liquidity in the money markets came as European and Asian markets plunged and the dollar sank after JPMorgan Chase said it would buy troubled U.S. investment bank Bear Stearns, signaling to investors the depths of the credit crisis."]
Hong Kong May Ditch Dollar Peg as Currency Drops, Says Nomura bloomberg.com 3/20/8 ["Hong Kong's currency has slipped against 14 of the 17 major currencies in the past year, boosting import costs and accelerating inflation to the highest in nine years. China ditched a dollar peg in 2005, Kuwait last May became the first Gulf Arab state to drop its currency's link to the dollar and Qatar is considering altering its foreign-exchange rate."]
Bank-to-bank lending freezes; bankers ask "who's next? reuters.com 3/20/8 ["As banking stock prices and the U.S. dollar plummeted, banks' access to unsecured borrowing from other banks fell to a relative trickle and dealers said the over-the-counter market had become highly discriminatory, depending on the bank name."]
 

Bear Stearns crisis raises fears worse is yet to come afp.google.com 3/16/8 ["The Bear Stearns news "has sent reverberations throughout all markets worldwide, not only because this is another 'too big to fail' scenario, but also because it has strong implications for a domino effect in the already weakened financial services industry and beyond," added Sherry Cooper, chief economist at BMO Capital Markets.  Bear Stearns's shares plunged 47 percent, with investors rattled only a day after an affiliate of US private equity giant, the Carlyle Group, defaulted on nearly 17 billion dollars of debt."]
The Implosion Is Accelerating, Prepare While You Can newswithviews.com 3/16/8 [""]
More Rate Cuts From Fed Expected Tuesday ap.google.com 3/16/8 ["Whatever the decision, for a growing number of analysts, one more rate reduction will not be the lifeline that pulls the country back from the brink of the first recession since 2001."]
Which bank is going to follow the Bear? timesonline.co.uk 3/16/8 ["...should the US Federal Reserve, the US Treasury and the Securities and Exchange Commission not devise a broad rescue plan to address the credit turmoil on Wall Street this weekend, “I would not be surprised to see an emergency bank holiday announced. That hasn’t happened since Roosevelt.” During the Depression, 75 years ago almost to the day, Franklin Roosevelt declared a four-day bank holiday, which stemmed a frantic run on banks."]
Venezuela opts for oil contracts in euros: report afp.google.com 3/16/8 ["Venezuelan state oil giant PDVSA has decided to sign some oil contracts in euros in the face of a plummeting dollar, local media reported, citing officials."]
Student aid available despite subprime woes: gov't reuters.com 3/16/8 [""Let me assure you and especially students and families that federal student aid will continue to be available," Margaret Spellings told a House of Representatives committee on education and labor.  The credit crisis has spread beyond the banking and mortgage industry into other areas of the financial sector, such as student loans.  Some student loan programs have tried to raise money by selling their bonds, but buyers have been scarce."]
Fed Invokes Little-Used Authority to Aid Bear Stearns bloomberg.com 3/16/8 ["The central bank is taking on the credit risk from Bear Stearns collateral, lending the funds through JPMorgan Chase & Co....  ...little-used parts of Fed law, added in the 1930s and last utilized in the 1960s, that allow it to lend to corporations and private partnerships with a special board vote.  ...``The Fed really doesn't have any obligation to help a non- bank aside from its role or responsibility to keep the financial markets functioning,'' said Hembre, who helps oversee $107 billion as chief economist at FAF Advisors Inc. in Minneapolis. ``They made a judgment, probably an accurate one, that they're not going to function very well if you've got a full-blown crisis with a major Wall Street firm.''"]
California Budget Cuts Threaten 20,000 Teachers, School Jobs bloomberg.com 3/16/8 ["...in January proposed across-the-board budget cuts of as much as 10 percent from all state agencies to fill a deficit that reached as high as $16 billion last month. Among the cuts is $4.8 billion in school funding. He said he won't raise taxes to fill the gap, caused by the loss of tax revenue amid the worst housing slump in the U.S. in 26 years."]
Islamic summit seeks dialogue with Christian world smh.com.au 3/16/8 ["Leaders of the 57-nation Organisation of the Islamic Conference (OIC), which represents 1.5 billion Muslims from across the Middle East, Africa and Asia, made the "Dakar Declaration" after a two-day summit in Senegal's capital.  "We continue to strongly condemn all forms of extremism and dogmatism which are incompatible with Islam, a religion of moderation and peaceful coexistence," the declaration said.  "We believe that it is important to plan along such lines a preparatory phase by organising a major international gathering on Islamic-Christian dialogue that involves governments among other players," it said."]
 

Weak dollar costs U.S. economy its No. 1 spot reuters.com 3/15/8 ["Taking the gross domestic product of both economies in 2007, the combined GDP of the 15 countries which use the euro overtook that of the United States when the European currency surged to a record high of more than $1.56 per euro."]
Money-losing banks might sell U.S. municipal bonds reuters.com 3/15/8 ["...short-term rates spiked in February, partly due to concerns about whether bond insurers were still credit-worthy. This increased borrowing costs for many issuers, prompting them to start switching to fixed-rate debt from floating-rate debt."]
U.S. mayors band together against guns reuters.com 3/15/8 ["Bloomberg and Boston Mayor Thomas Menino founded Mayors Against Illegal Guns two years ago, a group that has grown to some 250 mayors representing cities with a population of 50 million in 40 states.  Their goal is to help police stop the flow of illegal guns used in crimes, and they want data on guns used in crimes to be made available to the public."]
Homesteading Today homesteadingtoday.com 3/15/8 [Editor: Great Forum]
Bear Stearns gets Fed funding, shares plummet guardian.co.uk 3/15/8 ["JPMorgan Chase & Co and the Federal Reserve Bank of New York on Friday agreed to provide emergency financing to Bear Stearns after the investment bank said its cash position had deteriorated sharply, sending its shares into freefall."  Editor: In other words, they were insolvent.]
Near-riot over Boca Raton housing vouchers sends 9 to hospital sun-sentinel.com 3/15/8 ["hundreds, maybe thousands, descended on the city Wednesday for a chance to get on a subsidized-housing waiting list.  The wait nearly turned ugly when housing officials told hundreds still on line Wednesday morning that they only had enough applications left for those with disabilities. The crowd surged forward, almost crushing mothers with children and people in wheel chairs..."  Editor:  There is a very thin veneer of civility in our nation that is easily crossed in times of stress.]
 

Dollar's Clout Sinks Worldwide ap.google.com 3/14/8 ["n Bolivia, billboards feature George Washington's image on a $1 bill alongside a bright pink 500 euro note, encouraging savers to turn to the euro to tuck away money earned abroad or sent home in remittances.  "If the dollar's going down ... save it in Euros!!!" say the signs popping up around La Paz  ...While low dollar cycles have come and gone for decades, experts caution that it's now much more difficult to predict when this one will end because the euro didn't exist as competition for the dollar before."]
Gold hits record $1,000, oil at $111 guardian.co.uk 3/14/8 ["The dollar sank to a 12-year low, and an all-time low versus the euro..."]
Global Markets-Fear returns as dollar falls, oil hits reuters.com 3/14/8 ["The dollar could continue to fall unless authorities act further to ease concerns about the U.S. housing sector and ailing credit markets, said Tomoko Fujii, head of economics and strategy for Japan at Bank of America.  ..."There is no reason to buy the dollar," Fujii said. "It's not as if the U.S. government is going to step in and buy up every mortgage," she added."]
Light A Fire Under Your Pastor newswithviews.com 3/14/8 [By Coach Dave Daubenmire  "Here are a few things to do to change the temperature in your church. (Warning: You will be called all kinds of names by your “brothers in Christ.” They will say you are “sowing discord amongst the brethren….that you shouldn’t bring politics into the church, and the worse name of all, "a resister.”  You’re not sowing discord. You are asking questions. It is a church body….not a monarchy. Pastors deserve your respect, not blind allegiance. "]
Beef industry reeling from rising feed costs billingsgazette.net 3/14/8 ["The price per pound for beef isn't rising nearly as quickly as feed costs, and nationally some ranchers are reducing the size of their herds. That reduction of cows to slaughter was the main reason cited by the world's largest meat producer, Tyson Foods, for shuttering a Kansas packing plant in January, leaving 1,500 middle-class workers jobless."]
Congress Considers $15,000 Rebate Checks For All Home Buyers wsbtv.com 3/14/8 [Editor: Plans like these only add to inflation.  Foreclosesures are already sometimes going for 50% off, and individuals sellers will just jack up the price by whatever amount rebate is coming.]
U.S. Economy: Drop in Retail Sales Signals Recession bloomberg.com 3/14/8 ["Sales dropped 0.6 percent, led by auto dealers and restaurants, after a 0.4 percent gain in January, the Commerce Department said. Meanwhile, the Labor Department said jobless benefits rolls climbed to a 2 1/2-year high, and import prices soared 13.6 percent from a year ago, reflecting higher energy costs."]
 

Australia's food bowl lies empty news.bbc.co.uk 3/13/8 ["After America, Australia is normally the second largest exporter of grain, and in a good year it would hope to harvest about 25 million tonnes.  But the country remains in the grip of the worst drought in a century, which is why the 2006 crop yielded only 9.8m tonnes. "]
The cost of food: Facts and figures news.bbc.co.uk 3/13/8 [Charts and Graphs]
IMF to world: Develop global rescue plan usatoday.com 3/13/8 ["says the world's major countries should immediately make contingency plans to adopt far more aggressive public spending efforts to fight a worsening financial crisis.  John Lipsky, the fund's No. 2 official, said policymakers must "think the unthinkable" in preparing stand-by remedies for recurring credit markets problems and weakening economic growth. "]
Pilgrim's Pride shuts 7 sites, blames cost of chicken feed usatoday.com 3/13/8 ["the largest U.S. chicken company, to announce Wednesday that it will ax 1,100 jobs and immediately close seven U.S. facilities.  ...Worldwide grain supplies, hurt by poor weather, are at a 25-to-30-year low. The weaker U.S. dollar is making grain exports more attractive to other countries. Lastly, global demand for animal feed is soaring in developing nations, and the demand from the U.S. ethanol industry is putting even more pressure on prices."]
Dollar sinks to record low vs euro, currency basket guardian.co.uk 3/13/8 [" The greenback rallied on Tuesday after the Fed said it would lend primary dealers $200 billion in Treasury securities and accept a wider array of mortgage debt as collateral to ease tight credit conditions.  But those gains were wiped out on Wednesday when the euro climbed above $1.5550 for the first time in its nine-year history, as investors wondered whether the Fed's plan would be sufficient to revive credit markets and boost a struggling U.S. economy."]
Potter Author JK Rowling Equates Christians Who Avoid Potter with Islamic Fundamentalists lifesitenews.com 3/13/8 [""That's what's dangerous about it, whether it be politically extreme, religiously extreme...In fact, fundamentalists across all the major religions, if you put them in a room, they'd have bags in common! They hate all the same things, it's such an ironic thing.""]
Flinch! Ford finally bends, homosexual boycott over worldnetdaily.com 3/13/8 ["According to AFA, during the 24 months the boycott was in effect, Ford sales dropped an average of 8 percent per month. The organization said its boycott was not entirely responsible for the drop in sales, but played a very significant role. A total of 780,365 individuals had signed AFA's Boycott Ford petition."]
Fed Seeks to Limit Slump by Taking Mortgage Debt bloomberg.com 3/13/8 ["The Fed pledged yesterday to lend, in return for mortgage debt, $200 billion of Treasuries to the securities firms that trade directly with the central bank. Officials told reporters later that the program may escalate from there as the central bank seeks to break the logjam in the home-loan market."]
GO Capital Halts Redemptions From Global Hedge Fund bloomberg.com 3/13/8 ["...blocked clients from pulling cash from its Global Opportunities Fund, at least the seventh hedge fund in the past month forced to take steps to protect itself from market fluctuations.  Frans van Schaik, the former head of equity research at ABN Amro Holding NV who founded the Amsterdam-based fund in 2000, wrote to investors that the fund is not leveraged and not facing margin calls. The fund, which bets both on rising and falling prices, has assets of about 570 million euros ($881 million). "]
 

World central banks unite to ease credit strain reuters.com 3/12/8 ["The U.S. Federal Reserve and four other central banks on Tuesday teamed up to get hundreds of billions of dollars in fresh funds to cash-starved credit markets, allowing financial firms to use securities backed by home mortgages as collateral for central bank loans."]
Gas Prices Rise to New National Record ap.google.com 3/12/8 ["Analysts believe oil's underlying supply and demand fundamentals do not support such high prices, and argue that crude's rise in recent months is mostly due to the falling dollar. Crude futures offer a hedge against a falling dollar, and oil futures bought and sold in dollars are more attractive to foreign investors when the dollar is weak."]
Mass transit use hits 50-year high on pump prices reuters.com 3/12/8 ["Mass transit use increased by more than 2 percent in 2007 to the highest level in 50 years, with Americans taking more than 10 billion trips on public transport while the number of vehicle miles traveled was flat in the first 10 months of the year."]
Cheatn' Hearts crossroad.to 3/12/8 ["It is sad to realize that Oprah began on the path of searching for "something more than doctrine" so many years ago. The reader is reminded to pray earnestly for Oprah Winfrey, Eckhart Tolle, the callers and listeners during this 10-week global media blitz to promote the deviant doctrines of the New Spirituality.  When Pastor Larry DeBruyn listened to this exchange, it provoked him to write the following response..."]
Embarrassingly Stupid Americans -- One in Five Believes Sun Revolves Around Earth mercola.com 3/12/8 [Editor: Read the comments, too.]
Who knows there's a food crisis? timesonline.co.uk 3/12/8 ["But if the process of rising costs and diminishing supplies of grain accelerates, as it may well do, we could witness actual shortages of basic foostuffs. One report last month said that the world is only ten weeks away from running out of wheat supplies after stocks fell to their lowest level for 50 years."]
 

Derivatives the new 'ticking bomb' marketwatch.com 3/11/8 [" Buffett tried to sell off Gen Re's derivatives group. No buyers. Unwinding it was costly, but led to his warning that derivatives are a "financial weapon of mass destruction." That was 2002.  Derivatives bubble explodes five times bigger in five years  ...Wall Street didn't listen to Buffett. Derivatives grew into a massive bubble, from about $100 trillion to $516 trillion by 2007. The new derivatives bubble was fueled by five key economic and political trends: "]
Seeing an End to the Good Times (Such as They Were) nytimes.com 3/11/8 ["Most American households are still not earning as much annually as they did in 1999, once inflation is taken into account. Since the Census Bureau began keeping records in the 1960s, a prolonged expansion has never ended without household income having set a new record."]
When The Department Of Justice Obstructs Justice newswithviews.com 3/11/8 [By Devvy Kidd  "I ask you: If a sitting president is part of an on-going cover up of who was behind the OKC bombing and the same president, his cabinets and their agencies are aiding and abetting known terrorists in this country - is that treason or just "high crimes and misdemeanors?" The FBI is fully aware of terrorists in this country, who they are and where they are. The question is why is the Bush Administration protecting them?"]
Job losses' ramifications far-reaching csmonitor.com 3/11/8 ["Employers in almost all sectors are postponing or canceling plans to hire new workers. If the hiring downturn continues, the ramifications for the economy could be major...  Last month, layoffs spread beyond the housing sector and financial institutions. The durable-goods business lost 40,000 jobs. In the auto industry, 12,900 jobs disappeared. In the past year, employment in that industry shrank by some 75,500 jobs."]
You Will Come To Love Big Brother newswithviews.com 3/11/8 ["During his leadership of Halliburton, Cheney forecasted that gasoline prices would rise to above $2.00 per gallon. This seemed unbelievably high at that time, but proved extremely accurate. How would Cheney know what was going to happen? It’s because the rise in oil prices was manufactured by the power elite. However, in order to keep this hidden and divert blame, the power elite used the following strategy."]
Canadian TV Station Yanks Ex-homosexual Ad for "Discrimination" lifesitenews.com 3/11/8 ["The ad ran for three days on a local CTV station in Sudbury Ontario, before it was pulled on March 3. Life Productions had intended to run the ad locally for an entire year."]
Hate Crimes Linked to Immigration Debate ap.google.com 3/11/8 ["The law center's report contends there is a link between anti-immigrant activism and the significant rise in hate crimes against Latinos in recent years. According to the latest FBI statistics, 819 people were victimized by anti-Latino hate crimes in 2006, compared with 595 in 2003."]
150,000 American Soldier Suicides newswithviews.com 3/11/8 [By Frosty Wooldridge  "Chuck Dean, a Vietnam War veteran wrote a troubling book, NAM VET, published in 1990 by Multnomah Press. Out of the 2.7 million Americans who served in Nam, Dean reported 58,000 died. That proved small compared to the suicides! “Over 150,000 veterans have committed suicide since the war ended,” Dean said.  ...How many will suffer divorces or long term depression via the horrors they witnessed or participated in while soldiers in Iraq? How many thousands will become the new homeless on the streets of America?"]
Mortgage lenders see more borrowers give up usatoday.com 3/11/8 ["Nationwide, more than half the borrowers who lose their homes through foreclosure never answered their lenders' calls or letters, according to Freddie Mac. And an MBA analysis found that 23% of loans in foreclosure last fall were to homeowners who had no contact with their lenders, and that an additional 18% were to absentee owners.  The numbers help explain why it's so difficult to reverse the trends of rising foreclosures and falling property values. Even some homeowners who can afford to pay their mortgages are defaulting, Lauria says, because their house might have lost 30% of its value, and they figure it will be a long time before it's worth what they paid for it."]
America's hottest export: Coal stltoday.com 3/11/8 ["It's also being driven by a weak dollar that's making U.S. coal cheaper for overseas buyers."]
Exhaustive review finds no link between Saddam and al Qaida mcclatchydc.com 3/11/8 ["An exhaustive review of more than 600,000 Iraqi documents that were captured after the 2003 U.S. invasion has found no evidence that Saddam Hussein's regime had any operational links with Osama bin Laden's al Qaida terrorist network.  The Pentagon-sponsored study, scheduled for release later this week, did confirm that Saddam's regime provided some support to other terrorist groups, particularly in the Middle East, U.S. officials told McClatchy. However, his security services were directed primarily against Iraqi exiles, Shiite Muslims, Kurds and others he considered enemies of his regime."]
 

Dangerous Cracks Appearing in Job Market ap.google.com 3/10/8 ["Economists are now predicting a deep rate reduction by the Fed on or before its regularly scheduled meeting March 18. The Fed, which has been slicing the rate since September, recently turned more forceful. It slashed the rate by 1.25 percentage points during just eight days in January — the biggest one-month reduction in a quarter-century."]
Gasoline prices hit new high, seen jumping more uk.reuters.com 3/10/8 ["Lundberg said things will likely get worse, with prices at the pump rising 20 to 30 cents per gallon in the next month as refiners begin passing on to customers more of their higher costs for crude oil."]
UN: Virulent wheat fungus spreads to Iran, could threaten crops in Asia jpost.com 3/10/8 ["Laboratory tests have confirmed the presence of the fungus in western Iran, a development which raises the alert for crops of major wheat producers like Afghanistan, India, Pakistan, Turkmenistan, Uzbekistan and Kazakhstan, the FAO said in a statement."]
Canada: Refinery problems could lead to fuel shortage ctv.ca 3/10/8 ["The problem is a major breakdown at Imperial Oil's Strathcona refinery, where nearly 40 per cent of the company's Canadian fuel is produced. Its production has been cut in half.  "As a result we would expect to see some sporadic short-term outages at retail sites across the Praires and into British Columbia over the next few weeks," said Imperial Oil spokesperson Gordon Wong. "]
Debt Is Destroying America newswithviews.com 3/10/8 [By Jon Christian Ryter  "As those consumers max out what credit cards they have they desperately need more since the only "discretionary income" they possess is the available credit on those cards. When financially-strapped consumers max out their credit cards without the prospect of getting another one, they will walk away from their credit card debt the same way they walked away from their toxic mortgages."]
California Court Decision Against Homeschooling crossroad.to 3/10/8 [By Jonathan Lindvall  "Thankfully, at this point the decision is only directly applicable in several California counties, and recent enough that it isn't yet being widely cited as precedent in other jurisdictions. As Michael Smith, the President of the Home School Legal Defense Association wrote to its members in the state, "Nothing has changed in California regarding your homeschool. HSLDA maintains that the advice we give homeschool families is accurate and that filing a private school affidavit, or enrollment in a private school independent study program (I.S.P) is a valid option under the law in California."  Yet clearly this is a crisis. And many have suggested the outcome of this situation will have ramifications for homeschooling throughout the rest of the United States, and possibly internationally. So we face questions of how to respond."]
 

Americans Very Afraid Of Financial Meltdown Underway newswithviews.com 3/9/8 [By Devvy Kidd  "Americans are hurting from the sub prime meltdown and they want Congress to stop the hemorrhaging. However, this is not the job of Congress. Private citizens make a contract with a bank to purchase a home and they are bound by that contract to make the payments or lose the property. Collusion and fraud between banks and appraisers is being investigated and it should be done vigorously. However, it is outside constitutional restraints for Congress to bail out the home owner by forcing banks to put a freeze on their loans. The banks are in even more trouble of their own making:"]
US Fed releases $200bn as credit crisis hits new depths timesonline.co. uk 3/9/8 ["The Fed said that a “rapid deterioration” in the credit markets in recent days had prompted it to begin a series of fresh cash injections in an effort to shore up the balance sheets of America’s stricken banks."]
WaMu shares plunge after rating cut cnn.com 3/9/8 ["Shares of the country's largest savings and loan plunged more than 15 percent to a 52-week low of $9.91."]
U.S. Consumer Borrowing Rose, Led by Credit Cards bloomberg.com 3/9/8 ["U.S. consumer borrowing rose in January as Americans spent twice as much on their credit cards as they did a month earlier."]
Banks face "systemic margin call," $325 billion hit: reuters.com JPM 3/9/8 ["are facing a "systemic margin call" that may deplete banks of $325 billion of capital due to deteriorating subprime U.S. mortgages, JPMorgan Chase & Co (JPM.N: Quote, Profile, Research), said in a report late on Friday."]
Appellate Court Case, Please Remain Calm hsc.org 3/9/8 [By Debbie Schwarzer HSC legal team co-chair  Editor: This regards the homeschooling in California]
Britain to issue national ID cards washingtontimes.com 3/9/8 ["within months and target foreigners, airport staff and students in the first wave of the program, the government said yesterday.  Foreign nationals will need to provide fingerprints and personal data for a database linked to the plan starting in November, Home Secretary Jacqui Smith said."]
Ron Paul Quits Republican Presidential Campaign With McCain Winning lifenews.com 3/9/8 ["In the new video, Paul has not officially quit the race but told supporters that he is essentially ending the campaign. He urged them to carry his message further and admitted that he can't win a victory the conventional sense of becoming the GOP nominee."]
Independent Truckers See End of the Road washingtonpost.com 3/9/8 ["As the cost of diesel doubled over the last four years, his take-home pay has plummeted, from $50,000 to $11,000 last year. He's literally burning money; he spent $64,000 on diesel in the last eight months.  ...While a wave of trucking failures now might be invisible to consumers, when the economy rebounds, it would push up shipping rates, helping increase prices."]
The World's "Most Dangerous" Spiritual Guru: Oprah Begins 10-Week Online New Age Class lifesitenews.com 3/9/8 ["This past Monday Oprah Winfrey, considered by many to be the world's most influential woman, began a ten-week long online course on the best-selling book, "A New Earth," by New Age guru, Eckhart Tolle. "A New Earth" has already sold some 3.5 million copies worldwide, thanks largely to the publicity given to it by Oprah. According to Oprah, 500,000 people from across the world signed on to the first segment of the online course, to spend an hour and a half listening to Ekhart and Oprah talking about chapter 1 of the book, and taking calls from participants."]
Mercenaries Training US Local Police Officers newswithviews.com 3/9/8 [By Jim Kouri  "There are many police and law enforcement officials who are concerned with the growing trend of using military-trained mercenaries to train and work with local police officers in the United States."]
Jobs plunge by 63,000, worst since 2003; Fed steps in usatoday.com 3/9/8 ["The Fed said it will raise its planned March 10 and March 24 auctions to $50 billion each, from $30 billion it had previously announced. The auctions serve as short-term loans to get banks the cash they need to keep lending.  ...And the Fed announced another effort to ease credit — a series of repurchase transactions expected to reach $100 billion. In those moves, the Fed buys securities, giving the sellers immediate cash."]
World Markets Tumble Amid US Worries ap.google.com 3/9/8 ["Separately, the Federal Reserve reported that Americans' home debt exceeded their equity for the first time since the central bank began tracking the figures in 1945. Homeowners' percentage of equity fell to 47.9 percent in the fourth quarter."]
 

Banks' losses could put $900 billion squeeze on consumers csmonitor.com 3/6/8 ["The retailer Sharper Image offers a stark image of how the credit crisis on Wall Street is becoming a widespread credit crunch for the rest of America: The purveyor of gadgets recently declared bankruptcy, citing a tougher climate for financing among the reasons."]
Consumer bankruptcies leap in February reuters.com 3/6/8 ["...jumped 15 percent in February from the previous month and a steeper rise is looming because of the subprime mortgage crisis, the American Bankruptcy Institute said on Monday.  ...The February number was 37 percent higher than in the same month a year ago, according to the institute."]
Are You Ready For The Storm? newswithviews.com 3/6/8 [By By Paul Proctor  "How easy it is to get distracted by the mundane matters of everyday life. We invariably put off making preparations for disaster that could save us when the storms of life come, thinking, we'll cross that bridge when we get there - not realizing that when we get there, the bridge may be out."]
Canada Finally Moves Age of Consent for Sex from 14 to 16 lifesitenews.com 3/6/8 ["the bill was "overwhelmingly supported by Conservative MPs, most of the NDP caucus, as well as the Attorneys General of all provinces, but the Liberal party had resolutely refused to support raising of the age of consent because of political pressure from homosexuals.""]
Russian bomber again intercepted near U.S. Navy ship news.yahoo.com 3/6/8 ["a Russian bomber came within three to five nautical miles and flew 2,000 feet (610 meters) above the USS Nimitz aircraft carrier and its accompanying ships."]
Seven Major Mistakes in Food Storage usaemergencysupply.com 3/6/8 [By Vicki Tate  "A stressful period is not a good time to totally change your diet. Get a good food storage cookbook and learn to use these foods!  It's easy to solve the food storage problems once you know what they are. The lady I talked about at the beginning of the article left realizing what she had stored was a good beginning but not enough as she said, "It's better to find out the mistakes I've made now while there's still time to make corrections."]
 

Citigroup at 9-year low on capital, write-down worries reuters.com 3/5/8 ["after a prominent Middle East investor said the largest U.S. bank needs to raise more capital and an analyst projected a $15 billion mortgage write-down.  ...said Citigroup may need "a lot more money" from investors, after billions of dollars of write-downs tied to subprime mortgages had depleted the bank's capital."]
The ultimate sell signal: Part II marketwatch.com 3/5/8 ["The clues are piling up: this is not a good year to be investing based on wishful thinking. I'm not a perma-bear, parsing the fine print, but I can read the writing on the wall about chronic economic crises.
The Federal Deposit Insurance Corp. is planning to beef up its division of resolutions and receiverships, which handles failed banks, by 40% this year. The division currently has 233 employees. Considering that only three banks failed last year, why do they need more examiners?"]
Obama: Sermon on Mount OKs Same-Sex Unions newsmax.com 3/5/8 [""I don't think it [a same-sex union] should be called marriage, but I think that it is a legal right that they should have that is recognized by the state," said Obama. "If people find that controversial then I would just refer them to the Sermon on the Mount, which I think is, in my mind, for my faith, more central than an obscure passage in Romans.""]
Zim bans 'unlawful hoarding' news24.com 3/5/8 ["Zimbabwean President Robert Mugabe's government has made it illegal to possess more than Zim$500m in cash, it emerged Monday -the equivalent of 21 US dollars.  ...The authorities want to encourage use of cheques and cards."]
New recession worry: Bank failures cnn.com 3/5/8 ["The Federal Deposit Insurance Corp., the federal agency that backs bank deposits, last week reported the biggest jump in "problem institutions" it has seen since the savings and loan crisis of the late 1980s. While the extent of the problem is still low by historic standards, it identified 76 banks as in trouble - a 52% increase from a year ago.  FDIC Commissioner Sheila Bair among regulators set to testify Tuesday at a Senate Banking Committee hearing on the state of the banking industry.  Experts say the 76 banks now under scrutiny are likely only a small part of the problems now looming over the banking sector. "]
 

Food aid slashed as price of grain soars mg.co.za 3/4/8 ["...the United States is to slash the amount of food aid it gives to some of the poorest countries in the world. The US Agency for International Development (USAid) said rapidly rising prices of basic commodities, especially grains, have devoured an increasingly large part of its budget and left it with a $120-million black hole.  The past six months has seen a 41% surge in prices for wheat, corn, rice and other cereals. In the face of the spike in its costs, the US is now drafting plans to cut the number of poor countries it gives emergency aid to and also scale down the amount of food it gives."]
Oil Hits Record High, Hurting Nearly All ap.google.com 3/4/8 ["The price of oil gushed to a record high Monday, spreading dangerously to factories, groceries, gas stations and every citizen's pocketbook.  Builders are building less, the government reported. Manufacturers are cutting back, another report said. General Motors Corp. and Ford Motor Co. said they would cut second-quarter production."  Editor: Keep in mind that oil is not the major problem on our economy that people see it as, per se.  Oil is only exacerbating the situation caused in the general financial/credit/debt problems.  People tend to see articles like this and think that fixing the oil/gas problem will solve the economic problems - it won't.]
Ford to cut shifts, lay off some 2,500 workers reuters.com 3/4/8 ["it would eliminate shifts at four U.S. plants and lay off some 2,500 workers -- or almost 5 percent of its remaining work force -- as part of an effort to cut costs and return to profitability next year."]
Obama Foreshadows the Coming Spirituality crossroad.to 3/4/8 ["Barack Obama, the Senator who may become the next president of the United States, says (in an exclusive article in United Church News), that the teachings of the UCC (United Church of Christ), of which he is a member (Trinity United Church of Christ), are "foundation stones for his political work." Just what are those "teachings" comprised of? On Trinity's website (Obama's personal home church), on a page promoting Yoga, the following statement is highlighted:  "Within each [of] us is the seed of Divinity. Each Soul is divine. I bow to the divinity in us all! "]
Judge OKs Mandatory Anthrax Vaccine ap.google.com 3/4/8 ["The Pentagon can require its troops be vaccinated against anthrax, a federal judge said Friday."]
China Newspaper: Official Wrong on Reversing Forced Abortion One-Child Policy lifenews.com 3/4/8 ["A Chinese newspaper says a family planning official spoke out of turn last week when he said the Asian nation was considering slowly reversing its one-child population control policy that has resulted in forced abortions and sterilizations. The Beijing News called the official's comments "inconsistent with the facts.""]
The Buck Has Stopped nytimes.com 3/4/8 ["Consumer spending, don’t forget, accounts for about two-thirds of gross domestic product. Naturally, all eyes are on what consumers are doing with their money. Mr. Biderman said his data, in contrast to the indicators the federal number crunchers produce, are contemporaneous and offer much more insight into what is happening in the economic here and now."]