When he appeared on ABC News's This Week on February 7, U.S. Treasury Secretary Timothy Geithner was quizzed about the risk of the United States losing its triple-A credit rating, the chances that foreign investors might start shunning US debt, and whether the economy would suffer a double dip recession.
Sam Dillon of the New York Times reports that the depletion of federal stimulus money will result in schools approaching "a funding cliff." Dillon claims that the federal stimulus has managed to stave off drastic cuts at public schools in most parts of the nation thus far, but that the period of sustenance will soon end.
January’s unemployment numbers were released late last week. According to the official report, unemployment fell from 10.0 to 9.7 percent last month. Employment fell in such areas as construction and transportation, while we saw the now-familiar gains in such areas as services and retail.
When the Bureau of Economic Analysis announced that “the output of goods and services…increased at an annual rate of 5.7 percent in the fourth quarter of 2009,” the usual suspects in the kept media could hardly restrain themselves. ABC News’ headline trumpeted, “Economy Grows…Fastest Since 2003” which was “fueled by companies boosting output to keep stockpiles up.” Their announcement explained that “Growth exceeded expectations mainly because business spending on equipment and software jumped much more than [was] forecast.”
Claims that cabals of “banksters” control much of the world’s economy from behind closed doors have, for years now, been mainstays of those usually dismissed as “conspiracy theorists.” But since Fall 2008, which saw billions funneled into banking and other institutions deemed “too big to fail,” and since hundreds of billions remain unaccounted for; and especially since the Federal Reserve has successfully resisted efforts to make its activities more transparent — especially its dealings with foreign banks — such claims have gained both visibility and at least some credibility.