BLACK MONDAY: The First Time EVER The Dow Has Dropped By More Than 500 Points On Two Consecutive Days

Posted on August 25th, 2015

New York City 1920’s, financial-collapseBy Michael Snyder

On Monday, the Dow Jones Industrial Average plummeted 588 points. It was the 8th worst single day stock market crash in U.S. history, and it was the first time that the Dow has ever fallen by more than 500 points on two consecutive days. But the amazing thing is that the Dow actually performed better than almost every other major global stock market on Monday.  In the U.S., the S&P 500 and the Nasdaq both did worse than the Dow. In Europe, almost every major index performed significantly worse than the Dow.  Over in Asia, Japanese stocks were down 895 points, and Chinese stocks experienced the biggest decline of all (a whopping 8.46 percent).

On June 25th, I was not kidding around when I issued a “red alert” for the last six months of 2015. I had never issued a formal alert for any other period of time, and I specifically stated that a major financial collapse is imminent“. But you know what? As the weeks and months roll along, things will eventually be even worse than what any of the experts (including myself) have been projecting. The global financial system is now unraveling, and you better pack a lunch because this is going to be one very long horror show.

Our world has not seen a day quite like Monday in a very, very long time. Read More..

The Ponzi Scheme Noose Tightens

Posted on August 5th, 2015

Social Security, Generation graft, Ponzi SchemeBy Monty Pelerin

The Federal Government’s Ponzi Scheme noose tightens each day. Time is not an ally for government. They are running out of it and revenue sources to pay exploding obligations. At some point, government dies and with it many of its dependents.

The Washington Examiner states that the Social Security Disability fund runs out of money in 2016:

The Social Security disability program will run out of money in late 2016, a report issued Wednesday by the Social Security and Medicare trustees warned.

At that point, the 10.9 million beneficiaries of the program face an immediate 19 percent cut in benefits, unless Congress intervenes. Read More..

No Jobs for the Young, No Retirement for the Old

Posted on August 4th, 2015

Retirement Further by Frederick Deligne, Le Pelerin, FranceBy Charles Hugh Smith

We shouldn’t wonder why people are working into their 70s–we should wonder why anyone retires, assuming they’ll still be receiving their full pension in five years.

You may have seen a variation of this chart of employment in the U.S. by age group. This chart–courtesy of— shows the number of those employed (with any kind of job–full-time, part-time, self-employed) as a percentage of the Civilian Noninstitutional Population (CNP), which includes everyone 16 years of age and older who is not institutionalized or on active duty in the Armed Forces.

Employment by age Graph

A number of striking features pop out of this chart:

  1. Employment in the 16-19 age cohort has been dropping for 35 years, and fell off a cliff in 2008.
  2. Employment in the 20-24 and 25-54 age cohorts topped out in 2001 and has yet to recover the pre-recession levels of 2008.
  3. The only age cohort with employment growth since 2000 is the 55 and older group.

There are many theories as to why youth employment has plummeted while 55+ employment is rising, but demographics and financial insecurity likely play major roles. Back when Social Security was established, few people lived beyond their 60s. A retirement age of 65 meant most people lived only a few years beyond retirement. Read More..

Why Donald Trump Appeals to Voters

Posted on July 27th, 2015

Trump scares news media press from # 166603By Michael Bargo, Jr.

Donald Trump has skyrocketed in the polls not because he’s pompous and crude and has a bloated image of himselfHis appeal is to those who know that their government has become pompous and full of itself.  Voters are sick and tired of the lies told to them by government officials, and now that they have to hear it all over again in the 2016 presidential campaign cycle, it’s reached a tipping point. 

Voters are sick of reading how illegal immigrants walk away from five DUI convictions when they know of people who lost their driver’s licenses and paid a heavy price for doing far less.  They are sick of hearing how Hillary Clinton left the White House broke when she set up her husband to earn tens of millions in speeches for favors she gave to international corporations and foreign governments.

The talking heads on TV cable news and those on radio who trash Donald Trump and say he’s unfit to be president are unfit to comment on politics.  They don’t get it.  The big shots on TV news make millions a year and are part of the Washington-New York big government complex.  They are seen as attacking Trump because they don’t want to offend their friends who dine with them at exclusive events paid for by the taxpayers. Read More..

The Big Picture

Posted on July 24th, 2015

Financial Crisis Signpost Showing Recession Speculation Leverage And BubbleBy Peter Schiff, President and CEO Euro Pacific Capital

The past four years or so have been extremely frustrating for investors like me who have structured their portfolios around the belief that the current experiments in central bank stimulus, the anti-business drift in Washington, and America’s  mediocre economy and unresolved debt issues would push down the value of the dollar, push up commodity prices, and favor assets in economies with relatively low debt levels and higher GDP growth. But since the beginning of 2011, the Dow Jones Industrial Average has rallied 67% while the rest of the world has been largely stuck in the mud. This dominance is reminiscent of the four years from the end of 1996 to the end of 2000, when the Dow rallied 54% while overseas markets languished. Although past performance is no guarantee of future results, a casual look back at how the U.S. out-performance trend played out the last time it had occurred should give investors much to think about.

The late 1990s was the original “Goldilocks” era of U.S. economic history, one in which all the inputs seemed to offer investors the best of all possible worlds. The Clinton Administration and the first Republican-controlled Congress in a generation had implemented policies that lowered taxes, eased business conditions, and encouraged business investment. But, more importantly, the Federal Reserve was led by Alan Greenspan, whose efforts to orchestrate smooth sailing on Wall Street led many to dub Mr. Greenspan “The Maestro.”

Towards the end of the 1990’s, Greenspan worked hard to insulate the markets from some of the more negative developments in global finance. These included the Asian Debt Crisis of 1997 and the Russian debt default of 1998. But the most telling policy move of the Greenspan Fed in the late 1990’s was its response to the rapid demise of hedge fund Long term Capital Management (LTCM), whose strategy of heavily leveraged arbitrage backfired spectacularly in 1998. Greenspan engineered a $3.6 billion bailout and forced sale of LTCM to a consortium of Wall Street firms. The intervention was an enormous relief to LTCM shareholders but, more importantly, it provided a precedent that the Fed had Wall Street’s back. Read More..

Why Obama and Hillary Must Stop Donald Trump at All Costs

Posted on July 22nd, 2015

A Trump Thumpin PunchBy Wayne Allyn Root

Someone is getting very nervous. Obama. Valerie Jarrett. Eric Holder. Hillary Clinton. Jon Corzine…to name just a few. And I know why.

I wrote a book entitled, “The Murder of the Middle Class”

about the unholy conspiracy between big government, big business and big media. They all benefit by the billions from this partnership and it’s in all of their interests to protect one another. It’s one for all, and all for one.

It’s a heck of a filthy relationship that makes everyone filthy rich. Everyone except the American people. We get ripped off. We’re the patsies.

But for once, the powerful socialist cabal and the corrupt crony capitalists are scared. I’ve never seen them this outraged…this vicious…this motivated…this coordinated. NEVER in all my years in politics, have I seen anything like the way the mad dogs of hell have been unleashed on Donald Trump.

When white extremist David Dukes ran for Governor of Louisiana even he wasn’t treated with this kind of outrage, vitriol and disrespect. When a known fraud, scam artist and tax cheat like Al Sharpton ran for President, I never saw anything remotely close to this. The over-the-top reaction to Trump by politicians of both parties, the media and the biggest corporations of America has been so swift and insanely angry that it suggests they are all threatened and frightened like never before. Read More..

The ‘Mini Greece’ of the United States: Puerto Rico

Posted on July 17th, 2015

Flag of Puerto RicoBy Mike Gonzalez

The inability of Puerto Rican governments to live within their own means is, of course, the reason why the island finds itself with a $70 billion debt it can’t pay.

But as we apportion blame, let’s not forget the federal government’s role in creating our own “mini-Greece.”

From Franklin D. Roosevelt on down, we have made Puerto Rico a laboratory for liberal policies. It wasn’t just benign neglect on the part of Washington that has produced a crippling culture of dependence. Read More..

IMF May Commit Billions of US Tax Dollars to Greece

Posted on July 16th, 2015

WAIMH Red ArrowBy Thomas Lifson

The US government and media have treated Greece as a problem for the European Union, with nothing to do with us — or our tax dollars. That may be ending. As a friend pointed out to me, one of the 3 possible future lenders to Greece is the IMF. The IMF gets a big chunk of money from the US taxpayer: 17.68% of its funds.

That no one in Congress (and none of the Republican candidates for President) has spoken up to protect the US taxpayers’ money is very disappointing. Unelected bureaucrats at the IMF are prepared to give Greece billions more dollars of our money and not a peep from our government or media.   (my emphasis)

By Thomas Lifson for American Thinker

By permission American Thinker

Greek Debt Crisis: Germany Flexes Its Muscles in Talks With Bailout Ultimatum

Posted on July 13th, 2015

Greek Gift, EU cashBy Marcus Walker

Europe’s ultimatum to Greece, demanding full capitulation as the price of any new bailout, marks the failure of a rebellion by a small, debt-ridden country against its lenders’ austerity policies, after Germany flexed its muscles and offered Athens a choice between obeisance or destruction.

Sunday’s statement on Greece by eurozone finance ministers will go down as one of the most brutal diplomatic démarches in the history of the European Union, a bloc built to foster peace and harmony that is now publicly threatening one of its own with ruination unless it surrenders.

The weekend’s power play also highlights the cracks among Greece’s creditors—especially Germany and the International Monetary Fund—as the cost of keeping Greece in the euro spirals out of control. The IMF has urged Europe to give Greece some debt relief, something Berlin has opposed. Part of the reason for Germany’s hard line now is that maximally tough austerity in Greece could reduce IMF pressure to write off Greek loans.

The other 18 euro members were late Sunday pushing Greece to implement all of the austerity measures and broader economic overhauls its voters have twice rejected—in elections in January and in a referendum on July 5—not in return for new rescue loans, but as a precondition for even talking about them. Read More..

Is Ukraine The Next In Line For Default?

Posted on July 9th, 2015

Ukraine Economy Flag and CoinsBy Brandon Turbeville

As Greece concludes its vote to reject IMF austerity measures and impossible “debt repayment mechanisms” and as the Puerto Rican debt cauldron bubbles off the shores of the United States, there is yet another country whose debts to private bankers, the IMF, and other “creditors” is about to come due – Ukraine.

Around the end of July, approximately $15.3 billion dollars of bonds will be due to be paid to a wide variety of creditors – government, IMF, and private holders. On July 26, however, Ukraine will be unable to pay the money it owes to those creditors.

Interestingly enough, when the Greek default hung in the air along with the possibility of the continued rejection of IMF austerity measures, compounded with the likelihood that the Greeks would begin to pursue a new policy of independence, sovereignty, and dirigism, the result was media and financier panic. That panic is not being played out over the Western airwaves when it comes to the question of Ukraine, however. Read More..

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