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DB: Consumer De-leveraging to End in Two Years

“Deutsche Bank’s latest research on US consumer leverage suggests that the deleveraging process may have another couple of years to run. They determined the long-term trend line based on consumer debt to GDP ratio from 1953 to 2003, thus excluding the bubble years. Then they compared the current leverage to this line and looked at the rate of convergence. The intersection with the trend line is expected to take place in a year.”

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Travolta Strikes Again!

Zanzi said the actor motioned to an area behind his neck, apparently complaining about the label tag of his bathrobe, according to the federal lawsuit first obtained by Courthouse News.

When Zanzi reached for the neck area to help, Travolta shed the robe and “forced his naked person and his erect penis” against the unsuspecting ship worker, the lawsuit states.

“Travolta stated to (Zanzi) that he was beautiful and asked (him) to ‘take me, I will take care of you, please,’” the lawsuit claims.

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Woman Stoned on Bath Salts Tried to Eat Cops Face

The Utica Observer-Dispatch reports that police officers were called to Stanley’s Bar Saturday night to check out a woman described as emotionally disturbed. When an officer approached her, she lunged at him and tried to bite his face. Police say she screamed that she wanted to “kill someone and eat them.”

 

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{SHOCK PHOTO} Teen Survives Spear Through the Brain!

US teen survives spear through brain

X-ray image of spear through head of Nasser Lopez (Jackson Memorial Hospital)

A US teenager’s survival after a spear was shot through his brain is a miracle, doctors say.

Yasser Lopez, 16, is recovering after he was accidentally hit with a spear gun by a friend during a Florida fishing trip this month.

Medics at Jackson Memorial Hospital in Miami said the 3ft (90cm) projectile entered his brain over his right eye and went out the back of his head.

He is now out of bed and speaking following a three-hour operation.

Medics said he was awake as he arrived at hospital, and became “agitated”.

After sedating the teenager, part of the stainless steel spear had to be severed with a mechanical cutter so he could fit into the CT scanner.

After scan of Yasser Lopez's brain
Yasser Lopez’s brain scan after surgery to remove the spear
READ THE REST HERE AT BBCNEWS 

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No Need for Easing, Fed’s Work Is Done: Former Fed Governor

“The Federal Reserve’s monetary easing has reached its limit and it is now time for the government to put fiscal policy to work, according to Robert Heller, former governor of the U.S. central bank.

“Monetary policy, the foot is on the gas pedal, has been there for a long time, three years now,” Heller, who served on the Fed’s board from 1986 to 1989, told CNBC Asia’s “Squawk Box” on Wednesday. “And I think the Fed has done what it can do. It’s now the time for fiscal policy to do its part.”

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Bank of America is Fucking Retarded: Glitch Allows Detroit Man Withdraw $1.5 Million From ATM

Ronald Page seemingly had it made when Bank of America unintentionally changed his account status, allowing the 55-year-old man to make unlimited ATM cash overdraft withdrawals.

But ABC News reports that Page, who in reality had only $300 in his checking account, used the accidental loophole to withdraw more than $1.5 million—losing it all on gambling.

And even worse for Page, the U.S. Attorney’s Office in Detroit says he is now facing 15 months in prison after pleading guilty to charges of theft of bank funds, $1,543,104 in total between December 1, 2008 and May 31, 2009.

“In this case, the bank’s glitch allowed the defendant to lose a significant amount of money that was not even his in the first place,” reads the U.S. Attorney’s sentencing memorandum, obtained by ABC. “The fact that defendant acted on an impulse does not minimize the seriousness of his conduct and the need for a custodial sentence.”

The day the Bank of America glitch went into effect, Page reportedly withdrew $312,000 from ATMs at the Greektown Casino in Detroit and an additional $51,727 from the MGM Grand Casino. Bank of America placed a hold on his account 17 days later, but he had already withdrawn $1.5 million by that point.

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Households Aged 35 To 44 Lost More Than Half Their Net Worth In The Recession

“Are you in your late thirties or early forties? Our condolences, then. The recession was probably especially horrible for you.

Households aged 35 to 44 were the group hardest hit during the Great Recession,according to a U.S. Census Bureau report released Monday. Many members of this group lost more than half of what they had: the median net worth for households in this age range fell by 59 percent between 2005 and 2010.”

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Meredith Whitney: Lack of Local Investing Creating ‘Ghost Towns’

“Businesses in big-spending, tax-heavy states like California are investing elsewhere and are creating ghost towns back home in the process, says Meredith Whitney, founder of Meredith Whitney Advisory Group.

Business friendly states like Texas are seeing investments show up from other states, while in California, firms and even wealthier households can easily move.

The result, Whitney says, is that cities in California are quickly becoming ghost towns marked by falling housing prices and a fleeing tax base.

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Secret Service Agents Got Their Freak On More Than You Know

obamawave.jpg

The president is a lot more popular on Martha’s Vineyard than the men and women who guard him.

MARTHA’S VINEYARD, Mass. –  Long before President Obama’s security detail was scandalized in Colombia and new revelations emerged last week about the Secret Service, members of the elite team earned an “Animal House” reputation at the blueblood vacation mecca of Martha’s Vineyard.

Local residents say wild parties, fights and late-night carousing involving Secret Service members have become commonplace in recent years at the Vineyard, a favorite getaway for the First Family and longtime destination for upper-crust members of the Northeastern political, media and business establishment.

“I expect parties during the summer. People come here to have fun — they’re on vacation,” said a resident who lives in the East Chop section of Oak Bluffs, near the six-bedroom Victorian mansion whose owners dubbed it the Secret Service’s “party house,” after agents staying in a cluster of adjacent homes converged on it for late-night soirees. “But I didn’t think it’d be Secret Service people here protecting the president.”

 

‘If Secret Service says they’ve never received complaints about these same guys, then there is clear evidence to the contrary — if they say that, they’re lying.’

– Homeowner who says house was trashed by Secret Service agents

 

Trashed rental homes, bad behavior and barroom brawls that have required the local police to step in have some disgusted Martha’s Vineyard homeowners vowing never to rent out to the Secret Service again. And while none of the disturbing behavior appeared to have any direct effect on the president’s safety, some occurred even as the president and his family were nearby.

Read more: http://www.foxnews.com/politics/2012/06/19/exclusive-secret-service-agents-partied-like-rock-stars-on-obamas-vineyard-vacation/#ixzz1yGDGJld8

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{PHOTO} PUT THAT COFFEE DOWN! Alec Baldwin Catches Beef with Photographer

via TMZ.com

Alec Baldwin has a Violent Confrontation with NY Daily News Photog
Things got physical between Alec Baldwin and a NY Daily News photographer today … as Alec was leaving a NY courthouse with his fiancee Hilaria Thomas.

According to the NY Daily News, Baldwin had just obtained a marriage license … when he got into it with one of their staff photographers, Marcus Santos.

Santos told the paper Baldwin was screaming for him and another Daily News photog to back up … and they obliged. But Baldwin kept coming — “He comes after me, starts shoving and punching me — one time, right in the chin.”

But sources connected with Alec tell TMZ … the photographer almost HIT HIM with the camera and while Alec pushed him away … he did not punch him.

READ THE REST HERE 

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Doctors Surveyed Show American Health Care System Coming Apart at the Seams

KEY FINDINGS

  • 90% say the medical system is on the WRONG TRACK
  • 83% say they are thinking about QUITTING
  • 61% say the system challenges their ETHICS
  • 85% say the patient-physician relationship is in a TAILSPIN
  • 65% say GOVERNMENT INVOLVEMENT is most to blame for current problems
  • 72% say individual insurance mandate will NOT result in improved access care
  • 49% say they will STOP accepting Medicaid patients
  • 74% say they will STOP ACCEPTING Medicare patients, or leave Medicare completely
  • 52% say they would rather treat some Medicaid/Medicare patient for FREE
  • 57% give the AMA a FAILING GRADE representing them
  • 1 out of 3 doctors is HESITANT to voice their opinion
  • 2 out of 3 say they are JUST SQUEAKING BY OR IN THE RED financially
  • 95% say private practice is losing out to CORPORATE MEDICINE
  • 80% say DOCTORS/MEDICAL PROFESSIONALS are most likely to help solve things
  • 70% say REDUCING GOVERNMENT would be single best fix.

SOURCE

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State of the Union: Only 1 in 10 Long-Term Unemployed Find Work

“NEW YORK (CNNMoney) — We all know by now that it’s hard for the long-term unemployed to get back into the workforce.

But just how hard is it? Economists at the San Francisco Federal Reserve put a number on the odds.

In the first few weeks after losing their jobs, about 3 in 10 people are able to find work.

But after about a year of being out of work, the chances of landing a job fall to just 1 in 10 per month.

People with the best job prospects tend to find new opportunities fairly quickly. But those who come from industries that are downsizing or who have outdated skills can wind up unemployed for many months or even years.”

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Woman Stoned on Bath Salts Beats Her 3 Year Old Baby, Punches Neighbor, Then Dies

The New York State Police say a Madison County woman high on ‘Bath Salts’ died after assaulting her three-year-old child.

Police were dispatched to an apartment complex in Munnsville after numerous 9-1-1 reports about a woman punching and choking her three year old child. She was also reported to be assaulting a next door neighbor.

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