econocrash updates: taxes, axes, boom & busts

oregon voters approve tax hike for corporations & rich families
oregon voters approve tax hike for corporations & rich familiesfrom nytimes: Amid recession, high unemployment and tight household budgets, voters in Oregon have agreed to raise taxes on people with higher incomes, to pay for public education and social services. One of only five states with no sales tax, Oregon has long kept its corporate taxes relatively low. A statewide cap limits how much property taxes can rise, and before Tuesday voters had not approved a statewide income tax increase in nearly 80 years. Each of the two tax proposals, Measures 66 and 67, won decisively, in part because of support from large labor unions and because of how the taxes are directed.

video: ‘fear the boom & bust’ – hayek vs keynes rap*

america’s impending master class dictatorship*
vatican bank charged with money-laundering*
5 bank failures bring year’s total to 9*
fdic chief/thief sheila bair received bank of america mortgages while working on bank of america bailout*
sam’s club cuts 11,200 jobs, 10% of workforce*
verizon to cut 13,000 jobs as businesses reduce lines*
record number of young americans jobless*
28% of orlando-area rental apts, condos, townhomes vacant*
tishman to hand over nyc’s stuyvesant town to its lenders*
it’s official: dems push new debt ceiling to $14.3t*
sc lt gov bauer: needy ‘owe something back’ for aid of ‘feeding stray animals’*
treasury dept to investigate geithner about aig bailout*
game over for the american middle class*
video: economics 101 –
f. william engdahl on money & political power

update: senate confirms bernanke for 2nd term as fed chief
from latimes: Ben Bernanke today won a second term as chairman of the Federal Reserve. In a debate that was more about popular anger over the economy and government bailouts than about Bernanke’s technical qualifications, the Senate voted 70-30 to confirm Bernanke… “Bernanke fiddled while our markets burned,” said Sen. Richard Shelby, a conservative Republican from Alabama, complaining that Bernanke did not see the economic crisis. No Fed chairman has ever been rejected by the Senate. Paul Volcker in 1983 was confirmed for a second term by a vote of 84-16.

bloomberg: secret banking cabal emerges from aig shadows*

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