Breaking Wind
AP Images
The struggling, foreign-owned wind power company that laid off
two-thirds of its Arkansas workforce earlier this month after receiving
more than $30 million in aid from the federal government also received
$15 million from the state of Arkansas and was heavily promoted by the
state’s Democratic governor.
Exelon’s White House Ties Secure Regulation Breaks, Stimulus
President Barack Obama used the power of regulation and stimulus
to aid an early political supporter, according to the New York Times.
Carney on Exelon: ‘I’m not sure what the issue is, frankly’
Odds of Global Recession Are 100%: Marc Faber
Published:
Thursday, 23 Aug 2012 | 3:46 PM ET
Text Size 
By: Justin Menza
News Writer
News Writer
There’s
still a 100 percent chance the world heads into recession, Marc Faber,
publisher of “The Gloom, Boom & Doom Report,” told CNBC’s “Closing Bell” on Thursday, echoing a call he made in May.
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Bloomberg | Getty Images
Marc Faber, managing director of Marc Faber Ltd. and publisher of the Gloom, Boom and Doom Report
|
“Europe is already in recession,” he said. “Germany is still growing very, very slightly, but is likely to go into recession soon.”
Growth
in the U.S. is also falling off. “The U.S. economy has decelerated and I
don’t see much growth in the next six to 12 months,” Faber said.
There’s
also little the Federal Reserve and other policy makers can do to turn
the U.S. economy around. “I think that if you look at the injection of
liquidity and the intervention by the Federal Reserve and the Treasury
with fiscal measures, it has already impoverished the U.S. economy,” he
said.
It would take “massive easing, a huge balance sheet expansion,” to boost economic activity in the U.S., according to Faber. (Read More: More Easing Not Needed If Growth Holds Up: Fed's Bullard.)
Faber
also doesn’t expect much change in the U.S.’s finances regardless of
who wins the election in November. “The deficit is $1.3 trillion and, in
my view, will go up,” he cautioned. (Read More: The Biggest Holders of US Government Debt.)
Even
corporate profits, the lone bright spot, look to be at risk. “The
corporate sector has recovered remarkably since the trough in earnings
in 2009 and we are at record high earnings,” Faber said, but added,
“Corporate profits will disappoint over the next 12 to 18 months.”
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Agencies warn of possible anarchist activity at conventions
Washington (CNN) - Law
enforcement officials are concerned about possible violence by anarchist
extremists at the upcoming Republican and Democratic national
conventions, according to an intelligence bulletin prepared by the FBI
and Department of Homeland Security.
The bulletin, which was obtained by CNN, says that anarchists could try to use improvised explosive devices.
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