The Credit Crisis Rages On; Why the Dow fell 512 points on Thursday By Mike Whitney

Dandelion Salad

By Mike Whitney
Information Clearing House
August 6, 2011

Anti-cuts March

Image by quisnovus via Flickr

What caused global markets to plunge on Thursday?

Was it poor economic data in the US; the sudden slowdown in manufacturing, declining consumer spending, shrinking GDP and ongoing troubles in the housing market?

No. While the prospect of a double dip recession has pushed shares down for two weeks, Thursday’s crash was all about Europe.

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Our Goose is Cooked By Mike Whitney

Dandelion Salad

By Mike Whitney
Information Clearing House
June 02, 2011

This must be what it was like in Russia before the Soviet Union collapsed. The government’s so crooked that nothing works right, the infrastructure’s in a shambles, millions of people are scraping by on government handouts, and everyone’s on a permanent downer. Welcome to the Soviet States of America 2011.

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