October 2011
157 posts
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More Kicking the Can in Europe →
By Graham Summers Posted Thursday, 27 October 2011
The markets are exploding higher this morning on news of the expanded Euro Bailout. The numbers at the moment are
A 50% haircut for private Greek bondholders
European banks have eight months to raise about $147 billion in capital
An expansion of the European Financial Stability facility to $1.3 trillion.
First off, let’s call this for what...
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WHAT’S A YOUNG PERSON SUPPOSED TO DO? →
by SIMON BLACK Date: October 28, 2011 Reporting From: Tokyo, Japan
Young people in bankrupt western nations do not have a particularly bright future. To put it bluntly, society is going to force-feed you a shit sandwich. Higher taxes, more debt, fewer prospects, and a much lower standard of living await you. That’s if you stick around.
You probably won’t be surprised to hear me say this,...
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Trapped in Amerika →
polyslime:
By Jeff Berwick, The Dollar Vigilante Posted Thursday, 27 October 2011
Slowly, as Americans are waking up to the fasco-communist police state that surrounds them and realize that the economy in the US will never recover until after the US dollar hyperinflates into worthlessness, we receive more and more emails with sad stories and desperate cries for help.
The stories are...
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“The United States will officially pass the 100 percent debt-to-GDP line on...”
– Peter Suderman (via disobey)
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New Poll Reveals Midlifers Will Retire Close to... →
Living near family far outweighs living near other retirees.
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Foreigners Losing Confidence in Holding US... →
From Casey Research by Bud Conrad, Chief Economist October 26, 2011
Foreign central banks buy US Treasury and Agency debt through accounts at the Federal Reserve, where it is held in custody. Without these central banks buying our debt, the US federal government would have to find a new source of funds or the result could be higher interest rates. Looking at the data on a monthly basis (and...
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The Best Mistake You'll Ever Make →
By Jeff Clark, BIG GOLD October 26, 2011
The following conversation took place between a friend’s son and I; he’s a bright but relatively young investor. He had purchased some gold based on some things I’d told his father. Shortly afterward, the price dropped hard. As you’ll see, he was not very happy with my advice and said so in an email to me. So I called him…
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President Obama Announces Plan to Boost College... →
More insanity on the horizon courtesy of the government that brought us this nation’s health care disaster. Only a madman could dream this one up. This country is going to the dogs faster than you can say, “Woof!”
By: Peter Schiff, CEO of Euro Pacific Capital Wednesday, 26 October 2011
President Obama today announced a plan that will ensure students are able to commit to...
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Eurozone Aims to Ramp Up Rescue Fund →
Published October 26, 2011|Reuters
Euro zone leaders intend to multiply the capacity of their rescue fund around fourfold to one trillion euros but details of how they plan to draw a line under Europe’s worsening debt crisis will not be nailed until next month, sources said.
A draft statement from an emergency summit on Wednesday, obtained by Reuters, said two options were being...
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10 Signs The U.S. is Becoming a Third World... →
Activist Post
The United States by every measure is hanging on by a thread to its First World status. Saddled by debt, engaged in wars on multiple fronts with a rising police state at home, declining economic productivity, and wild currency fluctuations all threaten America’s future.
Read more »
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Civil Society Groups Call for Action to Curb Land... →
by Mantoe Phakathi Published on Wednesday, October 26, 2011 by Inter Press Service
CHANGWON, South Korea - Civil society organisations are calling on governments in developing countries to stop leasing and selling out land to transnational corporations because it leads to land degradation and food insecurity.
Smallholder farms are disappearing across Africa because of large-scale foreign...
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Fed Up with The Fed? →
mdrnsamurai:
Should the Federal Reserve be abolished as Rep. Ron Paul and others have demanded? The Republican presidential candidates have agreed that they would like to replace Ben S. Bernanke as chairman of the Fed, and many have been equally critical of former Fed Chairman Alan Greenspan. The view that both Mr. Bernanke and Mr. Greenspan have done poor jobs is also shared by many...
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Yuan Gold Contracts a Step toward Reserve Currency →
By: Dr. Jeffrey Lewis Posted Monday, 24 October 2011
On Monday, the first gold contracts denominated in the Chinese Renminbi (also known informally as “yuan”) came to the Hong Kong market. Analysts have been quick to note the implications of a yuan-denominated contract, realizing that the new contract could drive nearly three times as much demand as the dollar-denominated contract.
Looking...
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Gold ETFs Vault 3% as Metal Regains $1,700 →
Gold exchange traded funds soared Tuesday as prices climbed back above $1,700 an ounce with momentum and investors moved into safe havens on uncertainty over a solution to Europe’s debt woes.
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Netflix's latest show: When creative destruction... →
By Larry Dignan | October 25, 2011
Summary: Creative destruction looks great on the white board. Netflix CEO Reed Hastings dropped the creative and was left with destruction—lots of it.
Read more »
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The Real Contagion Risk →
By Chris Martenson Posted Monday, 24 October 2011
Why the US Should Care About Europe
At the very core of the global nuclear money reactor are US Treasurys and the dollar. If the dollar’s role as the world’s reserve currency wanes or even collapses, then the scope and pace of the likely disruptions will be enormous. Of course, we’ll be glad to have as much forewarning as...
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Economics On One Foot →
a-petro-manifesto:
How quickly could you sum up the principles of economics? While standing on one foot, Prof. Art Carden discusses the following economic principles in just over two minutes: ● Individuals strive to achieve their goals in the best ways possible. ● Every action has a cost. ● Incentives matter. ● Value is determined on the margin. ● Profits and losses help gauge value...
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Can The Hope Rally Continue? (DIA, SPY) →
by John Nyaradi OCTOBER 23, 2011
Markets rally on hope for a European settlement
Last week I wrote, “Today we stand at a most important crossroads for the global economy and for major U.S. stock market indexes like the Dow Jones Industrials (AMEX: DIA) and S&P 500 (AMEX:SPY). The endgame in Europe appears to be at hand, and the successful or unsuccessful resolution of this crisis will...
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Dollar Drops to Post World War II Low Against Yen... →
Friday, 21 Oct 2011
The dollar dropped to a post-World War II low against the yen and fell versus most major currencies on speculation Europe is moving closer to resolving its debt crisis and the Federal Reserve may seek further monetary easing. The euro advanced for a fourth day against the dollar, in the longest stretch of gains since July, before two European summits over the next five...
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The Market has a Name. It is Goldman Sachs →
polyslime:
liberationfrequency:
Corporatocracy
A few months ago Ken Clarke, the justice secretary and former chancellor, said that it would take two to three years for Britain to get out of the recession.
“People have got to understand it is going to be a long haul,” he said. “We have got ourselves into a real mess.”
Meanwhile Mervyn King, the governor of the Bank of England, has warned...
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The $1 Trillion Student Loan Rip-Off: How an... →
abaldwin360:
By Alex Pareene sourced from Salon
Young people accepted a home mortgage worth of debt before they ever even had a regular income based on phony promises.
Thanks to the horrific 2005 bankruptcy bill, one of the most nakedly venal modern examples of Congress serving the interests of the rentiers and creditors over the vast majority, debtors cannot discharge...
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Economic Freedom of the World 2011 Report →
Unfortunately, the report shows the United States falling in its economic freedom ranking to #10 worldwide —far from its peak at #3 in 2001.
The full report is available for download on the Fraser Institute’s website here.
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Profits and Protests: Are the “Occupiers” Correct? →
by Sam Patterson 10/20/2011
If we want profits to signal value as determined by the people, we need to ensure that a free market system is in place so that the profit and loss mechanism appropriately rewards those who contribute value to society. The “occupiers” should consider turning their attention away from profit itself and toward unjust government subsidies that merely give the illusion...
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Six Layers Of Deficits Mean Retirement Disaster →
If you want to know the true result of big government’s insatiable appetite for spending and the effects on our personal finances and lives please read this entire article. Warning: if you’re not already doing so, be sure to sit down first. This is a shocker!
By Daniel R. Amerman, CFA Posted Thursday, 20 October 2011
There is a common but mistaken belief that the children and...
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Webinar Registration: Money Under Laissez Faire →
Register for free webinar:
Wednesday, October 26, 8PM-9PM Eastern/Standard Time Where? On your Computer Speaker: George Selgin Topic: Money Under Laissez Faire In this webinar George Selgin explains how monetary exchange arose as “a product of human action but not of human design,” and how in the absence of government interference market forces would favor the development of decentralized...
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Federal Reserve and Bank of America Initiate a... →
from Zero Hedge by George Washington on 10/18/2011
Bloomberg reports that Bank of America is dumping derivatives onto a subsidiary which is insured by the government – i.e. taxpayers.
* * *
STAND UP TO THE COUP
Bank of America has repeatedly become insolvent due to fraud and risky bets, and repeatedly been bailed out by the government and American people. The government and banks are...
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