(EconomicCollapse) – Reckless money printing by Federal Reserve Chairman Ben Bernanke has pumped up the Dow to a brand new all-time high. So what comes next? Will the Dow go even higher? Hopefully it will. In fact, it would be great if the Dow was able to hit 15,000 before it finally came crashing down. Read the rest of this entry »
Inflation fears are heating up this week as Fed Chairman Ben Bernanke gave a speech in Boston on Friday, causing further frantic flight into gold by those fearful of the coming “quantitative easing” the Fed is set to deliver in November. Others who view gold as a short term investment engaged in immediate profit-taking after Bernanke’s speech. Read the rest of this entry »
(AlexJonesShow) – An ABC Nightline hit piece on Alex Jones which aired last night attempts to smear the radio talk show host as a dangerous purveyor of “paranoia porn” who is inciting followers to violence, an unfortunate angle to take in light of the fact that just a day earlier, James Jay Lee was inspired not by Alex Jones, but by top-down establishment propaganda about environmentalism, when he decided to take hostages at gunpoint during the Discovery Channel building siege.
The headline of the piece, “Angry in America: Inside Alex Jones’ World,” instantly implies that Jones lives within his own paranoid fantasy bubble and that “Alex Jones’ world” bears no relation to the real world. Read the rest of this entry »
(DemocracyNow) – While Goldman Sachs agreed to pay $550 million to resolve a civil fraud lawsuit filed by the SEC, Goldman has not been held accountable for many of its other questionable investment practices. A new article in Harper’s Magazine examines the role Goldman played in the food crisis of 2008 when the ranks of the world’s hungry increased by 250 million. We speak to Harper’s contributing editor Frederick Kaufman. Video Link Here
(RussiaToday) – May 27 – This time Max Keiser and co-host Stacy Herbert look at the scandals of guillotines and conspiracy theories, Fed rackets and capital flows. In the second half of the show, Max interviews Dr. Joern Berninger about the European “debt crisis”, when France was “technically bankrupt” on May 7, and about the China bubble debate. Read the rest of this entry »
(MSNBC) – Video: Obamacare Loophole Exposed – Michael Moore -Video Link Here
(ChartingStocks) – Warren Buffet Does Heavy Selling; 13-F Filings Reveal
Billionaire investor Warren Buffet did some heavy selling during the first quarter of 2010. According to the most recent 13-f filing, Mr. Buffett liquidated his entire position health insurers United Health (UNH) and WellPoint (WPT). He dumped his holdings in financial companies Travelers (TRV) and Sun Trust Banks (STI). Read More Here
(PressTV) – Greece blames US for snowballing debts
Greek Prime Minister George Papandreou says he is considering taking legal action against US investment banks for their alleged role in the snowballing Greek debt crisis. Read More Here
(MarketTicker) – The German Government Has Had Enough
If you thought the German government was going to be a lapdog for Sarcozy, or worse, was going to fellate Brussels and the ECB, you got a rude shock today. Read More Here
(MatterhornAsset) – ALEA IACTA EST
Yes this is it! We have crossed the Rubicon and events in the world economy are now likely to unfold in a totally uncontrollable fashion. Clueless governments still don’t understand that it is their ruinous actions that have created a credit infested and bankrupt world. They will continue to prescribe the same remedy that caused the problem in the first place, namely more credit and more printed money. The consequences are clear; we will have hyperinflation, economic and human misery as well as social unrest. Read More Here
(Bloomberg) – Conspiracy of Banks Rigging States Came With Crash
A telephone call between a financial adviser in Beverly Hills and a trader in New York was all it took to fleece taxpayers on a water-and-sewer financing deal in West Virginia. The secret conversation was part of a conspiracy stretching across the U.S. by Wall Street banks in the $2.8 trillion municipal bond market. Read More Here
(LondonTelegraph) – Congress blocks indiscriminate IMF aid for Europe
Europe may have to clean up its own mess after all. The US Senate has voted 94:0 to block use of taxpayers’ money for IMF rescues that make no economic sense or bail-outs for countries like Greece that far are beyond the point of no return. “This amendment will help prevent American taxpayer dollars from underwriting dysfunctional governments abroad,” said Texas Senator John Cornyn, the chief sponsor. “American taxpayers have seen more bailouts than they can stomach, and the last thing they should have to worry about are their hard-earned tax dollars being used to rescue a foreign government. Greece is not by any stretch of the imagination too big to fail.” Read More Here
(GnosticMedia) – Audio: Hey Wall Street, Naked Short Sell This! An Interview with Dr. Patrick Byrne and co-host, Wall Street whistle blower, Richard Andrew Grove – Audio Link Here
(SeekingAlpha) – $3,000 Gold? Rosenberg Says That May Be Conservative
Although gold bullion is both a commodity and currency, it has lately become the world’s currency of choice, i.e. a vote of no confidence in fiat paper. This is evident in the fact that the gold price has not only just made an all-time high in U.S. dollar terms ($1,249 on Friday), but also in just about every other currency one cares to mention. I illustrated this in a post a few days ago, entitled “Meet the world’s new currency of choice”. Read More Here
(Telegraph) – Higher taxes for a million as George Osborne’s emergency Budget hits investors
More than a million people could be dragged into paying capital gains tax after George Osborne confirmed that he would use his emergency Budget to hit investors. Read More Here
(RawStory) – Bill for Afghan war could run into the trillions
The U.S. Senate is moving forward with a 59-billion-dollar spending bill, of which 33.5 billion dollars would be allocated for the war in Afghanistan.
However, some experts here in Washington are raising concerns that the war may be unwinnable and that the money being spent on military operations in Afghanistan could be better spent. Read More Here
(DowJones) – Euro Plunges To 4-Year Low After German Trade Ban
The euro plummeted Tuesday to a fresh four-year low after Germany announced it would ban certain speculative investments, exacerbating the selling of the single currency as investors run out of alternatives to trade the sovereign debt crisis already roiling the euro zone. Read More Here
(CBC) – Canada comes out swinging against bank tax
Canada launched a full-court press against the idea of a global bank tax Tuesday, as the prime minister and four senior cabinet members came out strongly against a proposal that’s gathering global steam. Read More Here
(BusinessInsider) – Dow Theorist Richard Russell: Sell Everything Liquid, You Won’t Recognize America By The End Of The Year
Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him. Read More Here
(BusinessInsider) – A Look Back From 2013: How The Bailout Of Greece Caused The Split Of Europe
Last night we noted an interesting paragraph in an Ambrose Evans-Pritchard piece on the Telegraph, which cited an article in the major German newspaper Frankfurter Algemeine Zeitung, which described a future euro currency of strong nations that didn’t even include france. Read More Here
(Telegraph) – Banks dump Greek debt on the ECB as eurozone flashes credit warnings
Foreign holders of Greek and Portuguese debt have seized on emergency intervention by the European Central Bank to exit their positions, leaving eurozone taxpayers exposed to the credit risk. Read More Here
(Rense) – Congressional Climate Bills – Stealth Schemes To Raise Energy Prices And Enrich Wall Street – Stephen Lendman
On June 26, 2009, HR 2454: American Clean Energy and Security Act of 2009 (ACESA) passed, purportedly “To create clean energy jobs, achieve energy independence, reduce global warming pollution and transition to a clean energy economy.”
In fact, it lets energy polluters raise prices for huge windfall profits and gives Wall Street a bonanza through carbon trading derivatives speculation. Catherine Austin Fitts’ Solari.com blog explained it last July in her article titled, “The Next Really Scary Bubble” is coming, saying:
“If you think the housing and credit bubble diminished your financial security and your community, or the bailouts, or the rising gas prices did as well, hold on to your hat” for what’s ahead. “Carbon trading is gearing up to make the housing and derivative bubbles look like target practice,” or in other words, be the mother of all scams, courtesy of administration, House and Senate collaboration with Wall Street and the energy giants.Read More Here
(PaulWatson) – Video: Blanchflower – Europe Could Break Up, Another Bailout Inevitable
(InflationUS) – NIA believes Meltup is the most important economic documentary ever produced in world history. The Second American Revolution has begun! Please share this documentary with all of your friends and family members immediately!
The Dollar Bubble
Our new must see documentary on the collapse of the U.S. dollar! Become educated so that you can survive and prosper while many Americans enter poverty! ***The best spent 30 minutes of your life! Read the rest of this entry »
(WebsterTarpley) – The Obama administration has been posturing this week about the life and death issue of Wall Street reform. Obama’s predicament is that of a Wall Street puppet who has been put into the White House thanks among other things to almost $1 million of contributions from the infamous Goldman Sachs – but who now needs to make a show of fighting his own Wall Street patrons for political reasons. Of course, Obama’s health-care reform was largely a bailout of insurance companies, which are themselves a key part of Wall Street. But Obama is now pretending to quarrel with Wall Street to shore up his waning credibility, partly because many House Democrats are desperately seeking anti-banker, economic populist street creds in order to avoid defeat in November. So far, the results have been largely feckless and inadequate. Read the rest of this entry »
(RussiaToday) – This time Max Keiser and co-host Stacy Herbert look at the scandals of financial crisis show trials in America; Citigroup alleges they could not possibly have predicted the collapse of a very obvious housing bubble; and former Fed Chairman, Alan Greenspan, tells the show trial commissioners that the financial world is far too complex for mere mortals. In the second half of the show, Max talks to economist Dean Baker about Citigroup’s alleged profits. Read the rest of this entry »
Someone in the real estate industry is whispering in my ear to say……….. that not only are banks going to write down the principal on home mortgages (hey, act like you can’t make your next payment, and you might get a write down), but the federal government is soon to begin making the down payment for new home buyers (likely to be limited to FHA loans – 3.5% down payment requirement – but who knows, might be expanded), essentially spoon feeding the real estate industry back to pretend vigor. Read More Here
(WashingtonTimes) – CBO report: Debt will rise to 90% of GDP
President Obama’s fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation’s economic output by 2020, the Congressional Budget Office reported Thursday. Read More Here
(BusinessWeek) – Video: China – Closing for Business?
Western companies are finding themselves shut out as Beijing promotes homegrown rivals View Video Here
(WashingtonsBlog) – Video: Alan Greenspan – The Financial Crisis was Caused by a “Once-in-a-Century” Event – Video Link Here
(DailyReckoning) – Housing Market Recovery: On the Same Schedule as Godot
Not much action in the markets yesterday. The Dow lost 5. Gold gained 4.
So far the markets have not seemed to notice, but there are not one…but two bulls in this china shop.
(HeraldReview) – School groups: Education layoffs may top 20,000
A coalition of Illinois education groups says more than 20,000 teachers and staff could be laid off in the next school year. Read More Here
(MoneyNews) – Central Banks Stashing Away Gold at Brisk Pace
Central banks around the world added 425.4 metric tons of gold to their reserves last year, the biggest increase since 1964, according to the World Gold Council. Read More Here
(CaribbeanNetNews) – Guyana’s president says Caribbean is on the verge of bankruptcy
Guyana’s President Bharrat Jagdeo says the Caribbean is on the verge of bankruptcy as many countries are spending more on servicing external debt than their national revenue and has reiterated his call for urgent debt relief by the international financial institutions (IFIs). Read More Here
(RussiaToday) – Video: Engdahl – Wall Street Pulled Greek Plug to Distract From Dollar Disaster
(MailOnline) – Britain faces losing power over its own Budget under new plans for an ‘economic Government of the EU’
Britain could be forced to have its Budget signed off by European leaders under plans to impose an ‘economic government of the EU’, it emerged yesterday. Read More Here
What if It Was All Just a Big Bubble?
One of the things that many people go through their entire lives without ever realizing is that conditions haven’t always been the way they remember them to be. Due to the length of a typical lifetime and the number of those years that individuals are productive, it’s reasonable to think that someone in their mid-60s could retire today and look back at the last 40 years only to conclude that what they just experienced was normal.
But, what if the last 40 years were anything but normal?
What if, in the world of finance and economics, it was all just a big bubble? Read More Here
When it comes to Goldman Sachs there is no free Market. This video is a visualization of Matt Taibbi‘s “The Great American Bubble Machine” – It has been cut down slightly to fit the 10 minute time constraints. Read the rest of this entry »
(Rense) – With the foul mixture of adjustable rate mortgages, low down payments, unqualified loans, and liar loans, where potential homebuyers could not even verify that they had jobs or adequate funds to buy a house, the private International Banking Cartel inflated their US housing bubble. Then, the Cartel violently burst their bloated, thin-walled, and ephemeral bladder of toxins, they had so carefully pumped with hype, lies, and wicked intentions. Now, the Cartel is delivering their coupe de grace on some defaulting home buyers; they are siccing their private collection agency, the IRS on many of the homeless and jobless of America. Read the rest of this entry »
(GlobalResearch) – When the next census is over America will probably have 320 million people. The number of Americans 50 years ago was about 184 million. Our budget then was about $100 billion. Today it is supposed to be $3.8 trillion. We call that spending gone wild. Government control of the economy has become bigger and all consuming at what will prove to be an unsustainable pace. Markets are telling us the world has serious sovereign debt problems as witnessed recently with the financial debacles in Ireland and now Greece with others to follow. Read the rest of this entry »
Every week Max Keiser looks at all the scandal behind the financial news headlines. This time Max Keiser and co-host Stacy Herbert look at the scandal behind the headlines about the Volcker plan, the Supreme Court ruling and about Central Banks robbing the middle classes. Keiser also speaks to Fred Harrison, the Renegade Economist, about property bubbles and privatizing wages Read the rest of this entry »
Will we see double digit interest rates from the 1980s?
Spending is bad when it’s on credit and made frivolous on non-essential items. On the other side of the coin, spending is good when it’s out of savings without compromising the future. Living off credit is very, very bad and interest rates will need to go up eventually to help savers, not borrowers. The problem is that interest rates have been manipulated by central banks in the majority of industrialized countries since about the beginning of the 20th century. Coincidentally, this is when central banks were introduced en-mass to countries around the world as a form of supposed financial stability which couldn’t be further from the truth. Read More Here
Empty McMansions, Spoiled Government Workers and the Barrage of Illegal Aliens; the Death of Orange County
In 2005 and 2006 my neighborhood had a plethora of McMansions built. Developers in a frenzy leveled apartment complexes and displaced hundreds of tenants to build overpriced McMansions that were so close to each other that you could literally hear your neighbor flush his/her toilet. Privacy? Please. Read More Here
20 Reasons The US Will Never Recover & Why
How long will it take for Americans to realize they’ve been had by their own corporations? US jobs are not coming back because the factories will not re-open, because those factories are now in communist China. This did not happen in previous recessions, except to a smaller extent where there was a manufacturing scare in the 1980s when Japan was taking manufacturing jobs. Read More Here
US Homeowners: Sell your home now!
A year from now you won’t be able to sell your house. Yes, you read that right. The caveat is (there always is a caveat) that if you have enough money to make required major upgrades to your home, then you can sell it. Read More Here
BANKSTERS hit Main Street $11 Trillion taken in Heist!
American households have lost $11 trillion in wealth since the peak in the bubble. Read More Here
Canada is world’s largest sub-prime lender
All the news reports from Canadian real estate associations touting that the housing “recession has ended” is just about as worthless as the hot air coming out of politicians mouths. Very low interest rates made houses and condos too expensive, especially compared to the price of renting equivalent properties. Read More Here
Alex talks with contrarian investment analyst and entrepreneur Marc Faber. Faber publishes the monthly investment newsletter The Gloom Boom & Doom Report. On March 9 2009, he correctly predicted a U.S. stock market bottom. Read the rest of this entry »
You almost could hear the bankers heave a sigh of relief when Haiti’s earthquake knocked the Financial Crisis Inquiry Commission hearings off the front pages and evening news broadcasts last week. At stake, after all, is Wall Street’s power grab seeking to centralize policy control firmly in its own hands by neutralizing the government’s regulatory agencies. The first day – Wednesday, January 15 – went innocuously enough. Four emperors of finance were called on to voice ceremonial platitudes and pro forma apologies without explaining what they might be apologizing for. Typical was the statement by Goldman Sachs chairman Lloyd C. Blankfein: “Whatever we did, it didn’t work out well. We regret the consequence that people have lost money.” Read the rest of this entry »
It seems that the primary qualification needed by any chairman of the Federal Reserve is the ability to never admit error, no matter how damning the evidence. During his tenure on the job, Alan Greenspan set the standard for implausible deniability. But in a speech last weekend in Atlanta, current chairman Ben Bernanke did the Maestro one better. In a tortured academic dissertation, Bernanke explicitly denied any Fed culpability for inflating the housing bubble and for the financial crisis that began when it burst. Despite his best efforts, no one seemed particularly convinced. By taking such an absurd stand, he has destroyed any credibility he may have had left. Read the rest of this entry »
(C4L) – This past week we celebrated the end of what most people agree was a decade best forgotten. New York Times columnist and leading Keynesian economist Paul Krugman called it the Big Zero in a recent column. He wrote that “there was a whole lot of nothing going on in measures of economic progress or success” which is true. However, Krugman continues to misleadingly blame the free market and supposed lack of regulation for the economic chaos. Read the rest of this entry »
Constant prosperity through credit is no more possible than constant peace through heroin Much has been written about the Great Depression and the present crisis. There is much that is similar and some that is not. The differences explain why events have unfolded differently. The similarities explain why the end will be the same.Read the rest of this entry »
The engine of the black Corvette revved to a gasket-popping roar. Its driver leant out of his window. He was dressed in traditional Arab robes but wore a rubber wizard’s mask. He held an aerosol aloft and directed a jet of party foam into the air. Four-wheel drives plastered in pictures of Dubai’s Royal Family roared their engines back in approval. The cacophony was deafening. Read the rest of this entry »
(C4L) – CIt must be really painful to be an economist of the mainstream today — at least, it should smart to some extent. In a financial and economic calamity of the current scale, people naturally want to know who issued the warnings about the real-estate bubble and its likely aftermath. Read the rest of this entry »
(BobChapman) – The G-20 finance ministers meet in Scotland on November 6th and 7th, and they will all be bleating about the fall in the dollar. France started this week, and the others will follow. Their currencies are rising in value and they do not like it. Read the rest of this entry »
The Dow is at 10,000, the Federal deficit is breaking records, unemployment is skyrocketing and money is cheap ~ so let’s inflate the same debt bubble, continue Wall Street’s derivative Ponzi scheme and let Main Street take the risk while Wall Street takes the profit: Allen L Roland Read the rest of this entry »
In February of 2009 Ron Paul warned of a US Dollar collapse when China stops buying out debt in this video (below). There are many good points that Mr. Paul points out in the video but none were more prophetic then calling for the dollar bubble to burst. When the video was recorded the US Dollar index was around 86. Today the US Dollar Index is currently at 75.5. Read the rest of this entry »
(BobChapman) – Some of Treasury Secretary Timothy Geithner’s closest aides, none of whom faced Senate confirmation, earned millions of dollars a year working for Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms, according to financial disclosure forms. Read the rest of this entry »