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    Daily Digest – September 13

    by Davos

    Sunday, September 13, 2009, 2:47 PM

  • Gerald Celente’s Latest Thoughts…
  • Ticker Guy on Dennis Kneale and Geithner
  • Federal Deficit Hits $1.38T Through August
  • 40 Year Real Change in Income Limits (2008 dollars, Chart)
  • Eviction Patrol Overloaded with Flood of Foreclosures
  • Banksters to Main Street: “I.B.G.”
  • Protectionism: U.S. to Impose Tariff on Tires From China
  • Up To 2 Million March to US Capitol to Protest Against Obama’s Spending in ‘Tea-Party’ Demonstration

Economy

Gerald Celente’s Latest Thoughts…

Good videos on page

Ticker Guy on Dennis Kneale and Geithner

[video:http://www.youtube.com/watch?v=l__00FBpTu4&feature=player_embedded]

Federal Deficit Hits $1.38T through August

The Obama administration last month trimmed its forecast for this year’s deficit to $1.58 trillion, from an earlier $1.84 trillion. The recovery of the banking system led to the reduced estimate as it meant the administration did not need to get an additional $250 billion in bailout support for banks.

40 Year Real Change in Income Limits (2008 dollars, Chart)

Eviction Patrol Overloaded with Flood of Foreclosures

It’s home to Disneyland — “the happiest place on earth” — but deputies enforcing home evictions in Anaheim find mold, backed-up plumbing, marijuana crops, abandoned grandparents and the occasional suicide.

Peter Schiff (H/T iDoctor)

[video:http://www.youtube.com/watch?v=b6UomdC683c]

Banksters to Main Street: “I.B.G.”

Both Bloomberg and NYT are running articles about the dim chances of financial reform, such as procedures for closing “too big to fail” institutions. “Bailout first, reform later” is exactly analogous to the queen crying “verdict first, trial later” in Alice in Wonderland. Or “let horse escape, then close barn door,” if you will. Beyond the dysfunctional political system on display, the issue lurks of a larger-scale replay. From the Times article:

Protectionism: U.S. to Impose Tariff on Tires From China

In one of his first major decisions on trade policy, President Obama opted Friday to impose a tariff on tires from China, a move that fulfills his campaign promise to “crack down” on imports that unfairly undermine American workers but risks angering the nation’s second-largest trading partner.

The decision is intended to bolster the ailing U.S. tire industry, in which more than 5,000 jobs have been lost over the past five years as the volume of Chinese tires in the market has tripled.

Up To 2 Million March to US Capitol to Protest Against Obama’s Spending In ‘Tea-Party’ Demonstration

Tens of thousands of people converged on Capitol Hill on Saturday to protest against government spending 

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