US Constitution and Flag
Friday, October 12, 2012
Tuesday, October 9, 2012
Monday, October 8, 2012
Friday, October 5, 2012
Food Prices To Soar After Mass Animal Slaughter
Meat and dairy prices will hit record highs, contributing to the cost of food rising by around 15% next year, a report says.
http://news.sky.com/story/987059/food-prices-to-soar-after-mass-animal-slaughter
Thursday, October 4, 2012
Wednesday, October 3, 2012
Monday, October 1, 2012
JPMorgan Loss Could Be Next 'Shock' Event
The JP Morgan (JPM)
trading blunder could result in a $100 billion loss, a contagion of its
massive portfolio, and even the wipeout of its entire asset base.
http://seekingalpha.com/article/893711-jpmorgan-loss-could-be-next-shock-event?source=email_rt_article_title&ifp=0
http://seekingalpha.com/article/893711-jpmorgan-loss-could-be-next-shock-event?source=email_rt_article_title&ifp=0
Ross Perot: No 2012 endorsement
“We’re on the edge of the cliff, and we have got to start fixing it now.
Otherwise, we’re leaving a disaster to our children’s and our
grandchildren’s future,” he said.
Friday, September 28, 2012
Thursday, September 27, 2012
Wednesday, September 26, 2012
Tuesday, September 25, 2012
- Consumer credit in the US grew by 6.2%, the highest pace in nearly five years;
- US non-financial credit market debt grew by 5%, the highest pace in nearly four years;
- Total household debt increased 1.2%, the highest pace in over four years;
- US Treasury debt has increased 110% in four years;
- After contracting by 1.2% in the first quarter, state and local borrowing is now up 0.8%
http://www.zerohedge.com/news/2012-09-24/guest-post-greatest-trick-devil-ever-pulled
- US non-financial credit market debt grew by 5%, the highest pace in nearly four years;
- Total household debt increased 1.2%, the highest pace in over four years;
- US Treasury debt has increased 110% in four years;
- After contracting by 1.2% in the first quarter, state and local borrowing is now up 0.8%
http://www.zerohedge.com/news/2012-09-24/guest-post-greatest-trick-devil-ever-pulled
Monday, September 24, 2012
Friday, September 21, 2012
Ponder this for a moment...
According to the US mint website a total of just over 241 million silver eagle coins were sold from the beginning of the program in 1986 till the end of 2010. This means that significantly less than 1 silver eagle coin for every person living in America is even available to buy.
Thursday, September 20, 2012
Wednesday, September 19, 2012
Tuesday, September 18, 2012
Monday, September 17, 2012
Friday, September 14, 2012
Thursday, September 13, 2012
Tuesday, September 11, 2012
Saturday, October 22, 2011
The Coming Derivatives Crisis That Could Destroy The Entire Global Financial System
Most people have no idea that Wall Street has become a gigantic financial casino. The big Wall Street banks are making tens of billions of dollars a year in the derivatives market, and nobody in the financial community wants the party to end.
http://theeconomiccollapseblog.com/archives/the-coming-derivatives-crisis-that-could-destroy-the-entire-global-financial-system
http://theeconomiccollapseblog.com/archives/the-coming-derivatives-crisis-that-could-destroy-the-entire-global-financial-system
Monster Prediction From BofA: Another US Debt Downgrade Is Coming In Just A Few Weeks
We expect a moderate slowdown in the beginning of next year, as two small policy shocks—another debt downgrade and fiscal tightening—hit the economy. The “not-so-super” Deficit Commission is very unlikely to come up with a credible deficit-reduction plan. The committee is more divided than the overall Congress. Since the fall-back plan is sharp cuts in discretionary spending, the whole point of the Committee is to put taxes and entitlements on the table. However, all the Republican members have signed the Norquist “no taxes” pledge and with taxes off the table it is hard to imagine the liberal Democrats on the Committee agreeing to significant entitlement cuts. The credit rating agencies have strongly suggested that further rating cuts are likely if Congress does not come up with a credible long-run plan. Hence, we expect at least one credit downgrade in late November or early December when the super Committee crashes.
http://www.businessinsider.com/huge-prediction-from-bofa-another-us-debt-downgrade-is-coming-in-just-a-few-weeks-2011-10
http://www.businessinsider.com/huge-prediction-from-bofa-another-us-debt-downgrade-is-coming-in-just-a-few-weeks-2011-10
EU bank failures will crash Wall Street — again
Worst-case scenario’s closing fast: Occupy Wall Street growing. But no political power or allies yet. Feared yes, attacked by GOP proxy tea party. Soon the Occupation will explode into a new American Revolution.
http://www.marketwatch.com/story/eu-bank-failures-will-crash-wall-street-again-2011-10-18
http://www.marketwatch.com/story/eu-bank-failures-will-crash-wall-street-again-2011-10-18
Wednesday, October 19, 2011
'Solving eurozone crisis is a long way off': Warning leads global stock markets to tumble
Stock markets around the world slammed into reverse yesterday after Germany warned that a solution to the debt crisis in the Eurozone was a long way off.
German Chancellor Angela Merkel warned the deadlock might not be broken until next year – dashing hopes of a comprehensive rescue plan emerging this weekend.
It came as a leading forecaster in London said the crisis in the single currency bloc will plunge Britain back into recession.
Read more: http://www.dailymail.co.uk/news/article-2050327/Eurozone-crisis-Recession-warning-leads-global-stock-markets-tumble.html#ixzz1bIJYyYQa
http://www.dailymail.co.uk/news/article-2050327/Eurozone-crisis-Recession-warning-leads-global-stock-markets-tumble.html
German Chancellor Angela Merkel warned the deadlock might not be broken until next year – dashing hopes of a comprehensive rescue plan emerging this weekend.
It came as a leading forecaster in London said the crisis in the single currency bloc will plunge Britain back into recession.
Read more: http://www.dailymail.co.uk/news/article-2050327/Eurozone-crisis-Recession-warning-leads-global-stock-markets-tumble.html#ixzz1bIJYyYQa
http://www.dailymail.co.uk/news/article-2050327/Eurozone-crisis-Recession-warning-leads-global-stock-markets-tumble.html
S&P downgrades 24 Italian banks, financial firms
Standard & Poor's on Tuesday downgraded 24 Italian banks and financial institutions, citing renewed "market tensions" and lower economic growth prospects.
The action was taken after a review of the implications of a tougher-than-previously-anticipated macroeconomic and financial environment for the Italian banks, the credit rating agency said.
"In our opinion, renewed market tensions in the euro zone's periphery, particularly in Italy, and dimming growth prospects have led to further deterioration in the operating environment for Italian banks," it said in a statement.
http://www.reuters.com/article/2011/10/18/us-italy-ratings-sp-idUSTRE79H4RZ20111018
The action was taken after a review of the implications of a tougher-than-previously-anticipated macroeconomic and financial environment for the Italian banks, the credit rating agency said.
"In our opinion, renewed market tensions in the euro zone's periphery, particularly in Italy, and dimming growth prospects have led to further deterioration in the operating environment for Italian banks," it said in a statement.
http://www.reuters.com/article/2011/10/18/us-italy-ratings-sp-idUSTRE79H4RZ20111018
Monday, October 17, 2011
10 Essential Fiscal Charts Demonstrating America's Disastrous Condition
With stagnating economic conditions and the passage of new legislation, especially the Budget Control Act of 2011, the outlook for the deficit and debt has changed considerably over the past six months.
http://www.zerohedge.com/news/10-essential-fiscal-charts-demonstrating-americas-disastrous-condition
http://www.zerohedge.com/news/10-essential-fiscal-charts-demonstrating-americas-disastrous-condition
Moody's warns France on possible negative outlook
Moody's warned on Monday it may slap a negative outlook on France's Aaa credit rating in the next three months if the costs for helping to bail out banks and other euro zone members stretch its budget too much.
http://www.reuters.com/article/2011/10/18/us-france-ratings-moodys-idUSTRE79G6XT20111018
http://www.reuters.com/article/2011/10/18/us-france-ratings-moodys-idUSTRE79G6XT20111018
Ron Paul’s Economic Plan: Cut 5 Cabinet Agencies, Cut Taxes, Cut President’s Pay
GOP presidential candidate Rep. Ron Paul will unveil his economic plan Monday afternoon, calling for a lower corporate tax rate, cutting spending by $1 trillion during his first year in office and eliminating five cabinet-level agencies, including the Education Department, according to excerpts released to Washington Wire.
Mr. Paul’s “Restore America” plan calls for a drastically reduced federal government to help spur American business — a familiar theme for the Texas Republican and many of the GOP White House hopefuls. But unlike some of his Republican rivals who have released economic plans, the libertarian congressman mostly avoids the weeds of tax and trade policy, according to excerpts.
http://blogs.wsj.com/washwire/2011/10/17/ron-pauls-economic-plan-cut-5-cabinet-agencies-cut-taxes-cut-presidents-pay/?mod=google_news_blog
Mr. Paul’s “Restore America” plan calls for a drastically reduced federal government to help spur American business — a familiar theme for the Texas Republican and many of the GOP White House hopefuls. But unlike some of his Republican rivals who have released economic plans, the libertarian congressman mostly avoids the weeds of tax and trade policy, according to excerpts.
http://blogs.wsj.com/washwire/2011/10/17/ron-pauls-economic-plan-cut-5-cabinet-agencies-cut-taxes-cut-presidents-pay/?mod=google_news_blog
Greece Faces 'Hellish Week' as Debt Crisis Tests Nation
The national newspapers proclaim in large 40-point type “Hellish Week,” or more sarcastically “It Begins — the Week of Thrills.” Both are a reference to a massive 48-hour strike, beginning Wednesday, that may bring out as many as 50,000 to 60,000 protestors.
The protest is timed for a controversial vote in parliament, scheduled for Thursday, that would effectively eliminate the minimum wage for millions of workers.
http://www.cnbc.com/id/44931473
The protest is timed for a controversial vote in parliament, scheduled for Thursday, that would effectively eliminate the minimum wage for millions of workers.
http://www.cnbc.com/id/44931473
Thursday, September 22, 2011
Stocks End Sharply Lower on Recession Fears
Stocks came off their worst levels, but still finished sharply lower Thursday in heavy-volume trading as a gloomy outlook from the Federal Reserve in addition to ongoing economic jitters fueled concerns of a recession.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, soared above 41.
All 10 S&P sectors finished firmly in the negative territory, led by materials and energy.
The Fed announced it would launch a new $400 billion program in a move to rebalance its $2.87 trillion portfolio—a version of the widely expected Operation Twist—by selling shorter-term notes and using those funds to purchase longer-dated Treasurys.
http://www.cnbc.com/id/44624491
The CBOE Volatility Index, widely considered the best gauge of fear in the market, soared above 41.
All 10 S&P sectors finished firmly in the negative territory, led by materials and energy.
The Fed announced it would launch a new $400 billion program in a move to rebalance its $2.87 trillion portfolio—a version of the widely expected Operation Twist—by selling shorter-term notes and using those funds to purchase longer-dated Treasurys.
http://www.cnbc.com/id/44624491
Warnings mount on euro crisis, BRICS mull more aid
World leaders and finance chiefs pushed Europe to quell its debt crisis and big emerging economies said they might provide more money to help stop the chaos from spreading.
As finance ministers and central bankers gathered for talks amid growing concern about sharply slowing growth and plunging stock markets, the leaders of seven big economies stressed the need to contain the euro zone crisis.
"Euro zone governments and institutions must act swiftly to resolve the euro crisis and all European economies must confront the debt overhang to prevent contagion to the wider global economy," the leaders of Australia, Canada, Indonesia, Britain, Mexico, South Africa and South Korea wrote in an open letter to France, chair of the Group of 20 leading economies.
Separately, officials from the so-called BRICS countries, including heavyweights China, Brazil and India, said they would consider giving more funds to the International Monetary Fund to boost global stability.
http://www.gmanews.tv/story/233185/business/warnings-mount-on-euro-crisis-brics-mull-more-aid
As finance ministers and central bankers gathered for talks amid growing concern about sharply slowing growth and plunging stock markets, the leaders of seven big economies stressed the need to contain the euro zone crisis.
"Euro zone governments and institutions must act swiftly to resolve the euro crisis and all European economies must confront the debt overhang to prevent contagion to the wider global economy," the leaders of Australia, Canada, Indonesia, Britain, Mexico, South Africa and South Korea wrote in an open letter to France, chair of the Group of 20 leading economies.
Separately, officials from the so-called BRICS countries, including heavyweights China, Brazil and India, said they would consider giving more funds to the International Monetary Fund to boost global stability.
http://www.gmanews.tv/story/233185/business/warnings-mount-on-euro-crisis-brics-mull-more-aid
Fear gauge enters the red zone
Key indicators of credit stress have reached the danger levels seen before the Lehman Brothers failure three years ago, with Markit's iTraxx Crossover index – or "fear gauge" – of corporate bonds surging 56 basis points to 857 on Thursday.
Societe Generale led a further rout of bank shares, crashing 9pc in Paris on concern that it might need recapitalisation to cope with losses on Italian and Spanish debt.
The yield spread between Italian 10-year bonds and Bunds reached a fresh record of 408 basis points before the European Central Bank (ECB) intervened in late trading. It is near the level at which LCH.Clearnet raises margin requirements, the trigger that forced Greece, Portugal and Ireland to request bail-outs.
Global investors appear shaken by the refusal of the US Federal Reserve to come to the rescue yet again with quantitative easing (QE3) even though it was never likely the bank would launch fresh stimulus with core inflation running near 2pc or in the face of protests from Capitol Hill.
http://www.telegraph.co.uk/finance/financialcrisis/8783067/Fear-gauge-enters-the-red-zone.html
Societe Generale led a further rout of bank shares, crashing 9pc in Paris on concern that it might need recapitalisation to cope with losses on Italian and Spanish debt.
The yield spread between Italian 10-year bonds and Bunds reached a fresh record of 408 basis points before the European Central Bank (ECB) intervened in late trading. It is near the level at which LCH.Clearnet raises margin requirements, the trigger that forced Greece, Portugal and Ireland to request bail-outs.
Global investors appear shaken by the refusal of the US Federal Reserve to come to the rescue yet again with quantitative easing (QE3) even though it was never likely the bank would launch fresh stimulus with core inflation running near 2pc or in the face of protests from Capitol Hill.
http://www.telegraph.co.uk/finance/financialcrisis/8783067/Fear-gauge-enters-the-red-zone.html
Sunday, August 28, 2011
Europe's Problem Is Decidedly Not the Euro
"The sole use of money is to circulate consumable goods" - Adam Smith, The Wealth of Nations, p. 370
With the health of Europe's economy increasingly in question, a great deal of ink is being spilled as to its causes. Most unfortunate and wrongheaded is the growing view that the creation of a common currency - the euro - is behind the continent's troubles.
http://www.realclearmarkets.com/articles/2011/08/25/europes_problem_is_decidedly_not_the_euro_99208.html
Panic & Anxiety Swirl a Storm
Something big is going on in the United States in a sentiment change, an altered state of psychology, a growing sense of panic. My opinion is that the nation has entered the early stage of comprehension among the population of systemic failure. The most immediate measures are the rash of heavy selling down days in the US Stock market, the strong purchases in Gold, as well as the reactions to constant news of sovereign debt in trouble, and the big banks teetering.
http://news.goldseek.com/GoldenJackass/1314216000.php
In An Unsustainable System, A Warning of Collapse
August 24 2011: The meaning of the social security and medicare cuts, the continuing influence of the Council on foreign Relations, no real Consumer Price Index to go by, Euro zone not fully aware of the problem they have, a massive exposure for them, extended and unpayable debt.
http://beforeitsnews.com/story/1003/550/In_An_Unsustainable_System,_A_Warning_of_Collapse.html
We've been warned: the system is ready to blow
To understand the mess we are in, it's important to know how we got here. Today marks the 40th anniversary of Richard Nixon's announcement that America was suspending the convertibility of the dollar into gold at $35 an ounce. Speculative attacks on the dollar had begun in the late 1960s as concerns mounted over America's rising trade deficit and the cost of the Vietnam war. Other countries were increasingly reluctant to take dollars in payment and demanded gold instead. Nixon called time on the Bretton Woods system of fixed but adjustable exchange rates, under which countries could use capital controls in order to stimulate their economies without fear of a run on their currency. It was also an era in which protectionist measures were used quite liberally: Nixon announced on 15 August 1971 that he was imposing a 10% tax on all imports into the US.
http://www.guardian.co.uk/business/2011/aug/14/larry-elliott-global-financial-system
http://www.guardian.co.uk/business/2011/aug/14/larry-elliott-global-financial-system
Thursday, August 18, 2011
World Bank chief: Global economy in 'new danger zone'
The head of the World Bank warned Sunday that many key market players have lost confidence in recent weeks, pushing the fragile global economy into a "new danger zone."
Speaking to members of the Asian Society in Sydney, Australia, Robert Zoellick said events the past few weeks in Europe and the United States already have had an adverse impact, and could signal even bigger problems ahead. Several European nations continue to struggle with high debt, slow economies and other issues, while U.S. politicians went to the wire before they raised its debt ceiling -- only to see credit agencies downgrade its credit rating, and stock markets flounder.
"There was a convergence of some events in Europe and the United States that has led many market participants to lose confidence in the economic leadership of some of the key countries," Zoellick said.
http://www.cnn.com/2011/BUSINESS/08/14/world.bank.danger/
Speaking to members of the Asian Society in Sydney, Australia, Robert Zoellick said events the past few weeks in Europe and the United States already have had an adverse impact, and could signal even bigger problems ahead. Several European nations continue to struggle with high debt, slow economies and other issues, while U.S. politicians went to the wire before they raised its debt ceiling -- only to see credit agencies downgrade its credit rating, and stock markets flounder.
"There was a convergence of some events in Europe and the United States that has led many market participants to lose confidence in the economic leadership of some of the key countries," Zoellick said.
http://www.cnn.com/2011/BUSINESS/08/14/world.bank.danger/
U.S. economy's wild ride is far from over
Congratulations on surviving the U.S. stock market's wildest week ever -- when the Dow registered some of its biggest ups and downs, gold briefly surged above $1,800 an ounce and interest rates on downgraded U.S. Treasury bonds fell to record lows.
In the end, the Dow closed down 1.5% for the week.
That was after stocks rose for a second straight day Friday after investors were drawn to the more positive of two economic reports. The monthly retail report showed consumers spent more on autos, furniture, clothing and gas in July, pushing up retail sales by the largest amount in four months. That seemed to outweigh concerns over a key consumer sentiment index falling to its lowest reading in more than 30 years.
http://www.freep.com/article/20110813/BUSINESS07/108130414/U-S-economy-s-wild-ride-far-from-over
In the end, the Dow closed down 1.5% for the week.
That was after stocks rose for a second straight day Friday after investors were drawn to the more positive of two economic reports. The monthly retail report showed consumers spent more on autos, furniture, clothing and gas in July, pushing up retail sales by the largest amount in four months. That seemed to outweigh concerns over a key consumer sentiment index falling to its lowest reading in more than 30 years.
http://www.freep.com/article/20110813/BUSINESS07/108130414/U-S-economy-s-wild-ride-far-from-over
Employees Bid Farewell to Corporate America
With the U.S. unemployment rate at 9.1 percent as of July 31 and a fragile economic recovery underway, many workers feel they are left with no choice but to take their careers into their own hands.
Employees are bidding farewell to corporate America in the hope of finding a more secure, or at least fulfilling, future. They are reinventing themselves by starting their own companies or by pursuing long-put-off dreams that include creative or charitable endeavors.
While it might seem like a bold move, countless workers believe the abundance of uncertainty in today’s job market mitigates the fear factor.
http://www.cnbc.com/id/42822615
Employees are bidding farewell to corporate America in the hope of finding a more secure, or at least fulfilling, future. They are reinventing themselves by starting their own companies or by pursuing long-put-off dreams that include creative or charitable endeavors.
While it might seem like a bold move, countless workers believe the abundance of uncertainty in today’s job market mitigates the fear factor.
http://www.cnbc.com/id/42822615
0% Interest Rates Lock in Inflation
The decision by the Fed, last week, to keep a key interest rate at near zero percent for 2 years is historic because the Fed has never done this before. This action will have profound negative effect on the U.S. dollar and its buying power. It also signals that even the Fed thinks the economy is not going to get better for at least 2 years. This action will affect every American and telegraphs a policy of inflation by the government. In November of 2009, I predicted this very path in a post called “The Fix is In.” Back then, I said, “It appears the “fix” is in as far as the road plan for the U.S. dollar and economy. The government and the Fed appear to have chosen a path of inflation for America and the world. This is not an official announced plan but it might as well be.”
http://usawatchdog.com/zero-interest-rates-lock-in-inflation/
http://usawatchdog.com/zero-interest-rates-lock-in-inflation/
A big bounce, ounce by ounce, as gold takes off
Welcome to the new American gold rush. The price of gold is on a remarkable run, setting a record seemingly every other day. Stomach-churning volatility in the stock market this month has only made investors covet gold more.
Some want it as a safe investment for turbulent times. What worries some investors is that many others are buying simply because the price is rising and they want to make money fast.
http://finance.yahoo.com/news/A-big-bounce-ounce-by-ounce-apf-2335343368.html?x=0
Some want it as a safe investment for turbulent times. What worries some investors is that many others are buying simply because the price is rising and they want to make money fast.
http://finance.yahoo.com/news/A-big-bounce-ounce-by-ounce-apf-2335343368.html?x=0
What went wrong with the global recovery?
As recently as six months ago, mainstream economic forecasters were expecting real GDP growth to be comfortably above trend in 2011, and surveys of business activity were hitting new peaks. Of course, everyone knew that the underlying condition of the western economies was still very weak, but that did not seem to be sufficient to prevent a continuing normalisation of economic activity, with GDP returning slowly towards pre-recession trends.
http://blogs.ft.com/gavyndavies/2011/08/18/what-went-wrong-with-the-global-recovery/#axzz1VRnaQ4NG
http://blogs.ft.com/gavyndavies/2011/08/18/what-went-wrong-with-the-global-recovery/#axzz1VRnaQ4NG
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