By Eric Fry for The Daily Reckoning
America has an economy that produces about $13 trillion of activity each year. America also has a Federal Reserve Chairman that produces about 13 trillion raised eyebrows each year.
Last week, in Jackson Hole, Wyoming, Bernanke raised a few more eyebrows by asserting that the Federal Reserve remains in control – more or less – of economic conditions here in the United States.
Like a guy who falls Read More »
How Sugar-Rush Economics Has Left the West with a Headache – Telegraph
Why the Faltering Recovery? – Real Clear Markets
Credit is Finally Available, But No One Wants It – Fortune
The Folly of Subsidizing Unemployment – Wall St Journal
Record Number in Government Anti-poverty Programs – USA Today
NOTE: You know that our annual deficits and the amount of our national debt are more than worrisome, when the Chairman of the Joint Chiefs of Staffs declares that “The single biggest threat to national security is the national debt.”
By Army Sgt. 1st Class Michael J. Carden, American Forces Press Service
The single biggest threat to national security is the national debt, the chairman of the Joint Chiefs of Staff Read More »
Waiting for Mr. Obama – NY Times
Consumer Spending Rises 0.4 Percent in July – AP/Yahoo
Deficit Cost Declines Give Obama Stimulus Clinton Couldn’t Get – Bloomberg
U.S. Economy “Extremely Weak” and “Losing Momentum,” Says Economist Nigel Gault – Yahoo
No Decision on Reviving Homebuyer Credit – NY Times Not Again??
By Peter Schiff, Euro Pacific Capital, Inc
Watching economists and media analysts react to breaking economic news is a bit like looking at a flock of pigeons flying over the New York skyline. A true wonder of the urban landscape, the flocks can include hundreds of individuals who show an uncanny ability to stay in tight formation as the group quickly zig-zags between buildings. What may be even more remarkable than their ability Read More »
by David Galland, Partner, Casey Research
The latest data on global gold trends, Q2 2010, just popped into my email box from the World Gold Council.
The bad news is that the higher nominal price of gold has caused a 5% decrease in jewelry sales over the prior year.
If you’re thinking “Hey, that’s not that bad!”, you’d be right. On this date last year, gold closed at $950… which is $286 below where Read More »
By Bill Bonner for The Daily Reckoning
Want to know what is really going on?
Investors are waking up. They are wiping the sleep from their eyes. Behold! No recovery.
Analysts and the commentariat are struggling to make sense of it. With record low mortgage rates, and after eight programs designed to boost up housing, for example, sales are still plummeting. July saw the biggest monthly drop in existing house sales since the Johnson Administration.
The Read More »
Bewitched, Bothered, Bewildered, Broke – Weekly Standard
We’re Not Going to Double Dip – SmartMoney Could Be Right About Market!
Widespread Fear Freezes Housing Market – NY Times
The New American Corporate State – Forbes
If true, this is another example of certain rules not applying to our incumbent representatives. According to a story in today’s Dallas Morning News by Todd Gillman and Christy Hoppe,“Longtime Dallas congresswoman Eddie Bernice Johnson has awarded thousands of dollars in college scholarships to four relatives and a top aide’s two children since 2005, using foundation funds set aside for black lawmakers’ causes.”
“The recipients were ineligible under anti-nepotism rules of the Read More »
Beck Says His `Restoring Honor’ Rally Shows Discontent With U.S. Direction – Bloomberg
The Dangers of Big Government Debt – Investor’s Business Daily
Jackson Hole Debate on Recession Risk Shows Challenge for Central Bankers – Bloomberg
Imports Stifle 2nd-Quarter Growth – Reuters
The Emerging Markets’ Century – American.com
