This Time Is Different: Eight Centuries of Financial Folly

http://www.amazon.ca/This-Time-Different-Centuries-Financial/dp/0691142165

Audiobook: This Time Is Different: Eight Centuries of Financial Folly



Why the U.S. was never on the brink of disaster

http://www.theglobeandmail.com/report-on-business/economy/economy-lab/daily-mix/why-the-us-was-never-on-the-brink-of-disaster/article2117229/

http://www.reinhartandrogoff.com/

After Months of Partisan Wrangling, Wall Street & Pentagon Emerge Victorious on Debt Deal

After months of a bitterly partisan stalemate, the U.S. House of Representatives has voted 269 to 161 in favor of raising the federal borrowing limit and avoiding a default on the national debt. The final count showed 174 Republican ayes, with Democrats split evenly—95 on each side. The vote came just hours before a Department of Treasury deadline that potentially would have seen the United States run out of cash and default for the first time in its history. The bill is expected to be approved by the Senate and signed into law by President Obama today. The deal includes no new tax revenue from wealthy Americans, provides no additional stimulus for the lagging economy, and will cut more than $2.1 trillion in government spending over 10 years, while extending the borrowing authority of the Treasury Department. The debt deal was a victory of sorts for the Pentagon. Rather than cutting $400 billion in defense spending through 2023, as President Barack Obama had proposed in April, it trims just $350 billion through 2024, effectively giving the Pentagon $50 billion more than it had been expecting over the next decade. We speak with William Hartung, director of the Arms and Security Project at the Center for International Policy, and Michael Hudson, professor of economics at the University of Missouri, Kansas City.

http://www.democracynow.org/2011/8/2/after_months_of_partisan_wrangling_wall

Michael Hudson on Super Imperialism & War Spending

Stats: Did You Know?

America's Media - Dancing Around The Budget Debate Charade

http://www.rense.com/general94/amrs.htm

The Debt-Limit Hobbits

http://online.wsj.com/article/SB10001424053111904888304576476153557599820.html

Gerald Celente: 'Deal or no debt deal, the debt still exists'

The debt standoff continues and still lawmakers cannot come to terms on a deal. August 2nd is the day that the US is supposed to default and many are concerned on how this will affect the US's AAA rating. Gerald Celente, publisher of the Trends Journal, tells us the numbers don't lie.