The latest report from the U.S. Energy Information Agency (EIA) not only confirmed the explosive growth in the country’s proven reserves of oil and natural gas, it also shattered popular myths about America’s decline.
The Consumer Product Safety Commission is trying to force Buckyballs desk toys off the market over safety concerns, but the manufacturer is fighting back.
Compelled under the despotic power of a local government in Virginia, one business owner is losing his property under the government’s alleged authority of eminent domain. And it’s not because officials in Norfolk plan to build a new road or a public park; it’s so they can clear the area for new “retail space.”
Another pressing eminent domain debacle has sprouted in San Bernardino County, California, where the local government is seeking to seize and restructure “underwater” residential mortgages — those whose owners owe more than their mortgages' worth — by forcibly purchasing them from mortgage-backed securities (MBS) investors at low rates and reselling them with lower balances to other investors.
Farmers are celebrating the defeat of a proposed federal law that would have barred children from operating power equipment on private land, which would have barred kids from helping with milking cows and feeding animals, amongst other restrictions.
“The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors — vulture funds.”
So warned Roger Arnold, chief economist for ALM Advisors of Pasadena, California, in a column for RealMoney on August 11, 2011, that first lifted the lid on this latest colossal scandal to come out of the 2008-2009 financial crisis.