Life After the Oil Crash

Deal With Reality or Reality Will Deal With You

















Breaking News: Friday September 18th, 2009

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Overseas Financial Collapse News:

Editor's Note: I've gotten a lot of very positive feedback about the "best of/most crucial" round up I posted Wednesday in lieu of an update. For anybody who missed it or who wants to access it again, I've archived it here. The day's news:

Bloomberg: UK Had Record Deficit in August as Tax Revenues Plunged

UK Telegraph: Second Great Depression Blowing Holes in UK Finances

Bloomberg: "Never Go Bust" Families Mean End of Easy Credit in Gulf

U.S. Financial Collapse News:

Editor's Note: for those who don't know, every Friday we have a FDIC Friday Bank Closure thread at the LATOC Forum. This week's thread just got underway, you can find it here.

Reuters: FDIC, Short on Funds, May Borrow Directly from U.S. Treasury

Karl Denninger: "We're one cycle away from a collapse, if we're lucky"

Zero Hedge: "The financial crisis is not receding, it is intensifying . . ."

MSNBC: Toxic Loans Pushing More and More U.S. Banks Over the Edge

CNN: U.S. Government Hits Debt Ceiling Fifth Time in Only Two Years

UK Telegraph: Federal Reserve Considers Pay Controls at 5,000 Banks

NY Times: Economic Growth of the Bush Era Was Essentially a Mirage

Collapse of Cities and States:

Wall Street Journal: Woes Mount for Cities as Revenues Get Ripsawed

Wall Street Journal: Job Losses in Finance Extend Far Beyond NY City

Los Angeles Times: California Unemployment Rate Now up to 12.2%

Financial Times: Unemployment Up in 27 States, Payrolls Down in 42

Bloomberg: California and Nevada Set New Records for Unemployment

Housing Market Collapse News:

Reuters: Option ARM Meltdown to be 5-10 Times Bigger Than Subprime

Washington Post: FHA's Cash Reserves Plunge Below Operating Status

UK Telegraph: Federal Mortgage Insurer Sounds Imminent Cash Alert

Wall Street Journal: Housing Would be D.O.A. Sans Federal Insurance

Collapse of 2008, One Year Later

UK Telegraph: A Year Post-Collapse, Regular Amercians Foot the Bill

UK Telegraph: Global Banking Crisis of '08, a Week of Panic and Shock

LATOC: Was A.I.G. Bailed out to Preserve Covert Operations? (Relink)

National Preparedness Month Sale at LATOC Affiliate The Ready Store Ends September 30th, 2009



















Now is the time to invest in micro-solar equipment:





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