The connotation of “foothills” is a perfect way of stating precisely where we are at in the collapse of the US Dollar based global financial system and the return of the king, gold, as money. It is perfect because while we are certainly seeing a movement towards a mania, with gold hitting fresh all-time highs in US Dollar terms on almost a daily basis throughout September Read More »
“Claims Financial Crisis Cost Less Than S&L Crisis”, the headline from yesterday’s version of Naked Capitalism, highlights another one of President Obama lies and misleading statements. Frankly, I used to generously refer to Obama’s statements as “misleading”, but so often many of the statements from the President, the White House, and its large group of advisers and “spinners” are now just plain lies, and they know it, and just don’t care.
Actually, its Read More »
Nobody expected this French revolution … The pensions row has turned into a referendum on Sarkozy … As the French Autumn of Discontent morphs into its second week (more trains, fewer planes, long lines at petrol stations, banlieues kids indulging in a bit of self-administered wealth redistribution in the streets), no one can predict how things will turn out for Nicolas Sarkozy (left) and his embattled government. And yet Read More »
What a whacky, whacky world…
“Debt sales highlight abnormal conditions,” says the headline in yesterday’s Financial Times.
Abnormal? Freaky. Bizarre. Strange.
The latest auction of TIPS – US Treasury debt with inflation protection – produced a curiosity. Investors were willing to pay $105 for every $100 worth of inflation-protected notes.
What does it mean? What are investors worried about? On the surface of it, they are setting themselves Read More »
By Tim Iacono
A couple of stories about how retirees are faring in the current economic environment have popped up recently and it doesn’t look like things are improving, too much debt having dashed the plans of many since asset prices started going down instead of up as many of them were counting on. First, from the USA Today, this story about the surge in bankruptcy filings by those over the age Read More »
Pork for Me, Scraps for You, Tragedy for All – Bloomberg
The Dangers of Gridlock in Economic Policy – MarketWatch
One EMP Burst and The World Goes Dark – USA Today
Public Employee Unions Funnel Public Money to Dems – Washington Examiner
Tuesday night, Republicans and Tea Partiers may celebrate but for ordinary Americans, the election won’t fix much.
Regardless of which party is in power, Americans don’t like what Washington does.
Barack Obama and Nancy Pelosi, suspicious of free markets, have socialized the health care and automobile industries, crippled domestic energy production, and heaped welfare on Wall Street.
Whether appointing Supreme Court justices or mail room clerks, Democrats endlessly obsess about race, gender and Read More »
Economy Running Out of Gas, Recession Lurking – MarketWatch
Japan Officials Step Up Rhetoric Against Strong Yen – Wall Street Journal
The Real Foreclosure Mess: Lack of Accountability for Banks – Washington Post