Easy Money, Hard Truths
Source: New York Times Editorial Pages.
Are you worried that we are passing our debt on to future generations? Well, you need not worry.
“Before this recession it appeared that absent action, the government’s long-term commitments would become a problem in a few decades. I believe the government response to the recession has created budgetary stress sufficient to bring about the crisis much sooner. Our generation — not our grandchildren’s — will have to Read More »
EU Bailout Just Delays Inevitable by Roger Wiegand
To help further your understanding of the current economic situation, I will regularly feature certain “expert” outside-the-mainstream perspectives.
This recent discussion with financial writer Roger Wiegand by The Gold Report is another such perspective.
Source: The Gold Report
Replacing most of Europe’s colorful notes and various coins less than a decade ago, the euro is on the brink of extinction, according to Trader Tracks’ Roger Wiegand, sharing news and views of Euroland’s critical condition with Read More »
In A Word, The Problem Is “Debt”
Recent developments in the euro zone that increasingly look like they will lead to the restructuring (if not the collapse) of one of the world’s major currencies and the potential for this “contagion” to move first north to the U.K. and then west to the U.S. have many people wondering what’s gone wrong with the global monetary system.
How could advanced Western economies have run into such trouble?
With trillions of dollars Read More »
Guess How Long It Is Before The State of New York Runs Out Of Cash? Less Than A Week, According To The State’s Comptroller
In an editorial in today’s Wall Street Journal, the former Lt. Governor of the State of New York says the current Comptroller is saying New York may not be able to pay its short-term bills.
“On June 1, New York is due to send $3.8 billion in aid to local school districts, including $2.1 billion that was supposed to be paid in March but not sent for lack of funds. Yet New York Read More »
DEFINITELY NOT GOOD! U.S. Money Supply Plunges At 1930s Pace As Obama Eyes Fresh Stimulus
In a well-written article yesterday, Ambrose Evans-Pritchard of Britain’s Telegraph newspaper wrote that this plunge in the M3 money supply is both worrisome and frightening.
“The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.”
“The M3 figures – which include broad range of bank accounts and Read More »
What Am I Missing Here? Private Pay Shrinks To Historic Lows As Gov’t Payouts Rise!
What Am I Missing Here? Private Pay Shrinks To Historic Lows As Gov’t Payouts Rise!
How is this possible?
Not a very good sign, as just 42% of the nation’s personal income came from private wages and salaries in the first quarter, an all-time low.
Outlook for Residential Condo Real Estate – NOT YET!! Market Still “Very Sick”
CalculatedRisk.com now sees an increasing inventory of condos for future sale as “shadow” condos are starting to come back on the market.
They also quoted FHA Commissioner Stevens, in a recent speech, saying: “This is a market purely on life support, sustained by the federal government. Having FHA do this much volume (over 90%) is a sign of a very sick system.”
These were some of the interesting comments made by CalculatedRisk yesterday regarding the outlook for the condo Read More »