HOW’S THIS FOR SOCIAL UNREST? →
by SIMON BLACK October 18, 2011 Phnom Penh, Cambodia In his seminal work The Rise and Fall of the Third Reich, William Shirer recounts how the struggling Weimar Republic printed its way out of reparation debt from World War I. Out-of-control printing caused the German mark to fall from 75 per dollar in 1921, to more than 4 billion just 3-years later. Talk about chaos. After a brief period...
National student loan debt surpasses $1 trillion |... →
socialismartnature: As a friend pointed out, this is surely the next major financial “bubble” to pop, as students inevitably begin to default on payments impossible to make in such a horrible economy. The only question is whether the government will be forced to orchestrate some sort of student bailout like it did for the banks (I say, “forced,” for the government will obviously not do this if...
True state of the world’s de facto reserve... →
By David Galland 10/18/11 Given the role the US dollar plays as the world’s de facto reserve currency — with all major commodities priced in dollars, and dollars forming the bulk of reserves held by foreign central banks — the dismal shape of the US monetary system spells trouble for the global monetary system. Making matters worse, following the lead of the United States, governments...
Monetary Madness – Is the US Monetary System on... →
By David Galland 10/18/11 The US monetary system — and by extension, that of much of the developed world — may very well be on the verge of collapse. Falling back on metaphor, while the world’s many financial experts and economists sit around arguing about the direction of the ship of state, most are missing the point that the ship has already hit an iceberg and is taking on water fast. ...
The Tip of the Iceberg →
Looking Ahead as Greece Prepares for the “Mother of All Strikes” By Joel Bowman 10/18/11 This morning we woke to learn of the predictably worsening situation in Greece, Europe’s poster child for hopeless insolvency. Reported one newswire: “Greek ships were harbored and garbage rotted in the streets of Athens on Tuesday as angry workers built momentum for ‘the mother of all strikes’...
Students for Liberty Webinar: “How to Talk to your... →
Register free. Watch on your computer. Duration: 1 hour. libertariangirl: It’s Wednesday, October 19th at 8pm EST. I recently had the privilege of hearing Morehouse speak on the issues surrounding public choice. He’s a great speaker and also very entertaining. I highly recommend attending.
Social Security to hand out first raises since '09 →
WASHINGTON (AP) — Social Security recipients will get a raise in January — their first increase in benefits since 2009. It’s expected to be about 3.5 percent. Some 55 million beneficiaries will find out for sure Wednesday [October 19] when a government inflation measure that determines the annual cost-of-living adjustment is released. * * * Some of the increase in January will be...
Don't Buy Into Europe's Latest Rescue Effort – The... →
OCTOBER 17, 2011 BY KEITH FITZ-GERALD, Chief Investment Strategist, Money Morning The latest plan to preserve the European Union (EU) and save the global banking sector is to force European banks to increase their equity capital. The goal, of course, is to restore confidence and stability. But if that’s the case, then why are so many analysts and savvy investors still nervous?...
YOU DON’T NEED A PHD IN ECONOMICS– YOU JUST NEED TO UNDERSTAND BASIC ARITHMETIC by SIMON BLACK ·October 14, 2011 Europe and the United States have much in common in that their sovereign debt problems are really quite simple to understand. You don’t need a PhD in economics– you just need to understand basic arithmetic. In the US, for example, the government does not collect enough tax...
Global Economy and Stock Markets At The... →
WALL STREET SECTOR SELECTOR ETF NEWS ALERTS | JOHN NYARADI | OCTOBER 16, 2011
Rethinking "The recession is over."
quotingthecrisis: “Between June 2009, when the recession officially ended, and June 2011, inflation-adjusted median household income fell 6.7 percent, to $49,909, according to a study by two former Census Bureau officials. During the recession — from December 2007 to June 2009 — household income fell 3.2 percent.” — Robert Pear in Recession Officially Over, U.S. Incomes Kept Falling -...
Here come the budget cuts
thedailyfeed: Opinion columnist Jessica Valenti is outraged over Topeka’s response to budget cuts: decriminalizing domestic violence.