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It’s Not the Economic Crash as Much as the Very Dark Political Era That May Come After It Posted in News - Comments Off October 14th, 2008 by admin The rage we’re seeing at John McCain-Sarah Palin rallies presages a looming and dangerous right-wing backlash.

The Bush administration plans to spend an initial $250 billion of the $700 billion bailout buying stock in private banks, greatly expanding protections for the U.S. financial system out of deep concern for the faltering economy, industry and government officials said Monday night.

The Federal Reserve led an unprecedented push by central banks to flood the financial system with as many dollars as banks want, backing up government efforts to revive confidence and helping to reduce money-market rates on Monday (10/13/08).

…for India. Picked this up y’day morning…(Courtesy Paul Kedrosky) ” Pakistan, The Land That Financial Bad News Forgot: Part II“.  The really scary bit is towards the end…(in bold - emphasis mine): Given all the pain in markets last week, I thought it would be a good time to check in again on The Land

October 10th, 2008 New Phil Hendrie Show Recap & Audio October 14th, 2008 - Comments Off To download the show automatically everyday, subscribe via You can download the show HERE Watch video clips from the show HERE Listen with iPhone / iPod Touch Visit the complete New Phil Hendrie Show mp3

The Dow had it’s record highest point gain today up almost 940.  Although it was up a bit today, Oil prices have been retreating and have been steadily below $90/bbl for several days.  And have you noticed the price of gasoline has also been declining?

Matt Drudge learned long ago that jumping across the pond in the late evening and perusing the British press is a way to get a head start on the news, and in some cases to get news that the American press is ignoring. The situation with Hugo Chavez in Venezuela is an example of the latter.

WorldChanging has this troubling graphic. The extraordinary rise in oil prices since 2003 has sucked hundreds of billions of dollars out of the US economy (and the Cascadian economy). High oil prices have been a contributing cause of most recessions: Since 1948, “all large oil price increases but

George Monbiot has this story from the northern hemisphere about ‘the other bail out’: Last week, George Bush agreed to lend $25bn to US car manufacturers. It’s a soft loan, which will cost the government $7.5bn (1). Few people noticed; fewer fought it. The House of Representatives approved the measure by 370 votes to 58.

At the heart of the plan will be a move to take stakes in nine leading banks, which is likely to be followed by share stakes in hundreds if not thousands of other banks. President George W. Bush and his Treasury Secretary, Hank Paulson, were understood to be putting the finishing touches to a wide-ranging