US Consumer Sentiment Falls To Lowest Level in Two Years
U.S. consumer sentiment deteriorated in early July to the lowest level since March 2009 on increasing pessimism over falling income and rising unemployment, a survey released Friday showed. Confidence in government economic policies also fell drastically the Thomson Reuters/University of Michigan survey showed.   READ ENTIRE ARTICLE       

                               Manufacturing  Slumps as Core Inflation Gains
Overall consumer prices were up 3.6 percent from a year earlier, after rising 3.6 percent in May. Core CPI rose 0.3 percent after a similar gain in May and above economists' expectations for a 0.2 percent increase. "We are getting a very, very sharp rebound in core inflation and much more than the Fed had bargained for. We will be at price stability and possibly through it before the end of this year," said Eric Green, chief economist at TD Securities in New York. A separate report showed a gauge of manufacturing in New York State fell again in July. The New York Federal Reserve said its "Empire State" general business conditions index was at minus 3.76 from minus 7.79 in June.  READ ENTIRE ARTICLE

U.S. Debt Default Looms as Talks Stall on Deficit Reduction: “We Are Playing with Fire”

GREENSPAN SAYS AMERICANS DESERVE UNEMPLOYMENT    

The former boss of the Federal Reserve, Alan Greenspan, said the reason Americans are unemployed and suffering from a lower standard of living is because they are lazy, stupid, and unproductive and U.S. companies would be better off hiring aliens,he says. READ ENTIRE ARTICLE