Finance
Brawls at the Fed, as the System Comes Down
Whether or not you’re a fan of Lyndon Larouche, the news coming out of the Fed is not good. If you have a little extra cash, you might want to stock up on canned goods and water. It’s about to hit the fan. — PID (LAROUCHEPAC.COM) — A senior Washington intelligence source reported this morning... »
Yes Folks, Hindenburg Omen Tripped Again | WSJ
(WALL STREET JOURNAL) — The Hindenburg Omen reared its ugly head late last week, signaling more doom and gloom as stocks plod along amid the dog days of summer. The Omen, a technical indicator which uses a plethora of data to foreshadow a stock-market crash, was tripped again on Friday, marking the second time since... »
Goldman reveals where bailout cash went
(USATODAY.com) — Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions, according to information made public Friday night. Goldman Sachs disclosed the list of companies to the Senate Finance Committee after a threat of subpoena from Sen. Chuck Grassley, R-Ia. Goldman Sachs GS received $5.55... »
The Death of Paper Money
(THE TELEGRAPH) — Each big inflation — whether the early 1920s in Germany, or the Korean and Vietnam wars in the US — starts with a passive expansion of the quantity of money. People’s willingness to hold money can change suddenly for a “psychological and spontaneous reason” , causing a spike in the velocity of... »
22 Statistics That Prove The Middle Class Is Being Systematically Wiped Out Of Existence In America
(BUSINESS INSIDER) — The 22 statistics that you are about to read prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America. The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States... »
Financial Reform Bill was a ‘Stunning Success’
(Mish’s Global Economic Trend Analysis) — No doubt quite a few inquiring minds will be wondering how a financial reform bill that failed at 100% of its objectives while accomplishing virtually nothing can possibly be considered a “stunning success”. In sharp contrast to medical reform, I cannot come up with any financial reform provisions that... »
Fed’s volte face sends the dollar tumbling
(THE TELEGRAPH) — Rarely before have a few coded words in the minutes of the US Federal Reserve caused such an upheaval in the global currency system, or such a sudden flight from the dollar. The euro rocketed to a two-month high of $1.29 and sterling jumped two cents to almost... »
Chinese rating agency strips Western nations of AAA status
(THE TELEGRAPH) — Dagong Global Credit Rating Co used its first foray into sovereign debt to paint a revolutionary picture of creditworthiness around the world, giving much greater weight to “wealth creating capacity” and foreign reserves than Fitch, Standard & Poor’s, or Moody’s. The US falls to AA, while Britain and France slither down to... »
Secret gold swap has spooked the market
(THE TELEGRAPH) –It takes a lot to spook the solid old gold market. But when it emerged last week that one or more banks had lent 380 tonnes of gold to the Bank of International Settlements in return for foreign currencies, there was widespread surprise and confusion. The news that a mystery bank has just... »
Crisis Awaits World’s Banks as Trillions Come Due
FRANKFURT (NY TIMES) — The sovereign debt crisis would seem to create worry enough for European banks, but there is another gathering threat that has not garnered as much notice: the trillions of dollars in short-term borrowing that institutions around the world must repay or roll over in the next two years. via Crisis Awaits... »
The Progressives’ Legacy of Bankruptcy
(NATIONAL REVIEW ONLINE) — There is a growing sense in the minds of Americans that we, as a nation, are reenacting the dramatic climax of Thelma and Louise: The pedal’s to the metal, the car’s gaining speed, and we are about to plunge into the abyss. The abyss is not the Grand Canyon, of... »
Robert Prechter’s Market Forecast Says ‘Take Cover’
(THE NEW YORK TIMES) — WITH the stock market lurching again, plenty of investors are nervous, and some are downright bearish. Then there’s Robert Prechter, the market forecaster and social theorist, who is in another league entirely. If Robert Prechter is right, one market analyst said, “we’ve basically got to go to the mountains with... »
With the US trapped in depression, this really is starting to feel like 1932
(THE TELEGRAPH) — The US workforce shrank by 652,000 in June, one of the sharpest contractions ever. The rate of hourly earnings fell 0.1pc. Wages are flirting with deflation. The share of the US working-age population with jobs in June fell from 58.7pc to 58.5pc. The ratio was 63pc three years ago. Roughly a million... »
Warning signals of a double-dip recession flash brightly across the world
(THE TELEGRAPH) — Global bond markets are flashing warning signals of a sharp slowdown in growth across the world and a possible slide toward a double-dip recession and outright deflation. The yield on two-year US Treasuries has fallen to a record low of 0.61pc in a flight to safety, a level not seen during the... »
Countdown to 12/21/12:
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Is This Book Coming True?
A plague has been unleashed....After her father dies suddenly, Dr. Maggie Taylor, a prominent and respected genetics researcher and professor, receives a mysterious package with a message of universal doom. H5N1 influenza is ravaging swine herds throughout the Midwest, when a deadly, new human version suddenly appears in New Mexico.
Derek and Sharon hope to see you in Canton, Ohio in October!
