BY MARTIN HUTCHINSON, Contributing Editor, Money Morning
The 2008 collapse of Lehman Bros Holdings Inc. (PINK: LEHMQ) ignited a financial meltdown that resulted in widespread bank failures and caused the Dow Jones Industrial Average to lose 18% of its value in just one week.
Yet a Greek default - which (even with a bailout) becomes increasingly likely with each passing day - would actually be much, much worse in many respects.
Sure, it's possible that European Union (EU) taxpayers will soon be dragooned into yet another rescue plan. But that would only delay the inevitable - a catastrophic collapse that will drudge up feelings of panic we haven't witnessed since the global financial crisis hit its apex nearly three years ago.
Here's why."
Jun 6, 2011
How to Fix the U.S. Housing Market - Money Morning
If this week's economic reports showed us anything, it's the fact that two years into what's supposed to be an economic recovery, the U.S. housing market remains on life support.
But here's what those reports didn't tell you: If the housing market isn't fixed soon, it's going to drag the rest of the economy down into a hellish bottom that will take years, if not decades, to crawl out of.
The housing market is our single-most important generator of gross domestic product (GDP) and, ultimately, national wealth.
It's time we fixed what's broken and implemented new financing and tax strategies to stabilize prices.
Contrary to the naysayers - and in spite of political pandering and procrastination - we can almost immediately execute a simple two-pronged plan to fix mortgage financing and stabilize U.S. housing prices.
I call it a not-so-modest proposal."
But here's what those reports didn't tell you: If the housing market isn't fixed soon, it's going to drag the rest of the economy down into a hellish bottom that will take years, if not decades, to crawl out of.
The housing market is our single-most important generator of gross domestic product (GDP) and, ultimately, national wealth.
It's time we fixed what's broken and implemented new financing and tax strategies to stabilize prices.
Contrary to the naysayers - and in spite of political pandering and procrastination - we can almost immediately execute a simple two-pronged plan to fix mortgage financing and stabilize U.S. housing prices.
I call it a not-so-modest proposal."
Travel with The Planetary Society
Treasures of TURKEY, including the Draconid Meteor ShowerOctober 3-14, 2011
MAYA WORLD & the Great Dinosaur Extinction
November 10-18, 2011
ANTARCTICA!
December 30, 2011-January 11, 2012
ARECIBO & the Lesser Antilles
On board the 5-masted Yacht, Royal Clipper! January 26 - February 4, 2012
ALASKA's Aurora Borealis
March 15-21, 2012
The GRAND CANYON and the 2010 Annular Solar Eclipse
May 14-21, 2012
SIBERIA & LAKE BAIKAL for the Transit of Venus
June 1-12, 2012
Discover HAWAII and the Transit of Venus
June 4-12, 2012
Have you ever wanted to visit an alien landscape of wind-scoured terrain and sculpted ice? How about a world where ribbons of light envelop the night sky? Or perhaps you prefer seeing the fiery corona of the Sun?
The Planetary Society is calling all such explorers to travel with us to remote, beautiful -- and, yes, even alien regions on planet Earth to witness some of our world's most breathtaking wonders. Escorted by knowledgeable guides and speakers, the tours we offer through Betchart Expeditions span the globe. Voyage to the Antarctic, or head to the opposite hemisphere for a chance to
see the Aurora Borealis in Alaska.
What's up in the solar system in June 2011
Time again for my monthly look at what's going on with the robots exploring the solar system! It'll be a busy month for Cassini, with lots of cool icy moon observations: it'll spend several days looking at Iapetus, and will pass very close to Helene mid-month before doing some RADAR work on a Titan flyby. Opportunity just seems to get faster every month -- if she keeps up her pace, she'll be at the rim of Endeavour crater by the end of the summer. And Dawn is still getting closer to Vesta, though I have to say that my enthusiasm for its approach to this new world has cooled a bit since they haven't released any images since their first view of Vesta early last month.Before I go into mission-by-mission detail, here's Olaf Frohn's marvelous map of where all of our explorers are on June 1. There are two major changes to this map since last month's: Spirit is now "grayed out," and it'll be the last time her name appears; and OSIRIS-REx has been added to the list of future launches.
CELEBRITIES Gossip, Jun 06, 2011
LOS ANGELES (Hollywood Reporter) - The bizarre drama surrounding British pop singer Cheryl Cole's on-again, off-again gig as a judge on the U.S. version of "The X Factor" appears to be coming to a close -- and it's off.
REUTERS Celebrity/Gossip News Headlines, Jun 06, 2011
Cheryl Cole will be paid to leave "X-Factor"
Ancient Greek comedy gets "Glee"-style update
List of winners at MTV Movie Awards
Bummer! 'Judy Moody' for small children only
Abrams, Spielberg go back to future in 'Super 8'
Cheryl Cole seeks visa amid "X-Factor" standoff
New "X-Men" tops class at worldwide box office
Kissinger ponders Blatter's offer of FIFA "wise men" role
MTV film award winners take back seat to new clips
"Gunsmoke" star James Arness dead at age 88
Fire destroys Trace Adkins home near Nashville
John Edwards, disgraced but determined, readies for new trial
"Top Chef"'s Antonia in deal for "Busy Mom's Cookbook"
Ranchera prodigy Rojas, in a "good place," tries comeback
20 years later, "Lambada" still inspiring hits
August premiere set for season 4 of "Jersey Shore"
Katie Couric's talk show deal likely announced Monday
Denis Leary on why he "hates" Michael J. Fox
Dierks Bentley featured in new NHL marketing campaign
Performance rights groups face challenges and uncertainty
Apple secures licensing deals ahead of iCloud unveiling
Roots plotting "orchestral" new album
Chaka Khan collaborating with Steven Tyler, Akon
Laryngitis forces Adele to cancel U.S. tour dates
"Cash Cab"s Bailey to host new NBC game show
Judge won't stop Dish airing free Disney movies
Jason Aldean's bulldog determination propels rising career
Rihanna says "Man Down" video empowers women
Rivalry emerges between Vevo and YouTube
Rock radio continues to thrive despite shrinking ratings
Heart transplant teen befriended by Brandy dies at 17
Slim's America Movil slumps on regulation worries
Polanski cancels trip to Polish Film Festival
Eminem sues Audi over ad's use of "Lose Yourself"
Standoff between Cole and U.S. "X Factor" producers
Adele cancels all remaining US tour dates
"Judy Moody" one film for kiddies only
"Gunsmoke" star James Arness dead at age 88
Playboy club returns to London, some hopping mad
Actor John Malkovich robbed in Prague
Ancient Greek comedy gets "Glee"-style update
List of winners at MTV Movie Awards
Bummer! 'Judy Moody' for small children only
Abrams, Spielberg go back to future in 'Super 8'
Cheryl Cole seeks visa amid "X-Factor" standoff
New "X-Men" tops class at worldwide box office
Kissinger ponders Blatter's offer of FIFA "wise men" role
MTV film award winners take back seat to new clips
"Gunsmoke" star James Arness dead at age 88
Fire destroys Trace Adkins home near Nashville
John Edwards, disgraced but determined, readies for new trial
"Top Chef"'s Antonia in deal for "Busy Mom's Cookbook"
Ranchera prodigy Rojas, in a "good place," tries comeback
20 years later, "Lambada" still inspiring hits
August premiere set for season 4 of "Jersey Shore"
Katie Couric's talk show deal likely announced Monday
Denis Leary on why he "hates" Michael J. Fox
Dierks Bentley featured in new NHL marketing campaign
Performance rights groups face challenges and uncertainty
Apple secures licensing deals ahead of iCloud unveiling
Roots plotting "orchestral" new album
Chaka Khan collaborating with Steven Tyler, Akon
Laryngitis forces Adele to cancel U.S. tour dates
"Cash Cab"s Bailey to host new NBC game show
Judge won't stop Dish airing free Disney movies
Jason Aldean's bulldog determination propels rising career
Rihanna says "Man Down" video empowers women
Rivalry emerges between Vevo and YouTube
Rock radio continues to thrive despite shrinking ratings
Heart transplant teen befriended by Brandy dies at 17
Slim's America Movil slumps on regulation worries
Polanski cancels trip to Polish Film Festival
Eminem sues Audi over ad's use of "Lose Yourself"
Standoff between Cole and U.S. "X Factor" producers
Adele cancels all remaining US tour dates
"Judy Moody" one film for kiddies only
"Gunsmoke" star James Arness dead at age 88
Playboy club returns to London, some hopping mad
Actor John Malkovich robbed in Prague
email: info@als-alexander.org or interalex2@gmail.com
WORLD News, Jun 06, 2011
Sun,5 Jun 2011 11:00 PM PDT
MAJDAL SHAMS, Golan Heights (Reuters) - Israeli troops fired at Palestinian demonstrators in Syria who rushed to the frontier fence on Sunday in what Israel called a cha
llenge to its sovereignty. Syrian state-run media said 18 were killed.
llenge to its sovereignty. Syrian state-run media said 18 were killed.
Sun,5 Jun 2011 10:23 PM PDT
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