by James Quinn
Yes, the housing recovery storyline keeps being pushed back month after month. Existing home sales plunged by 6.1% in one month. Existing home sales are 8% LOWER than they were in July of 2013. Does that happen in a recovery? Sales of existing homes were up 2% over last year, but the distribution of sales tells the real story. Homes selling for less than $100k crashed by […]
The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of about 747 out of the 3,234 savings and loan associations in the United States. A savings and loan or “thrift” is a financial institution that accepts savings deposits and makes mortgage, car and other personal loans to individual members—a cooperative venture known in the United Kingdom as a Building Society. “As […]
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If you like your health care plan, the Centers for Medicare and Medicaid Services (CMS) has a Christmas surprise for you! When will this new present arrive? December 25th.
In an ongoing effort to keep Obamacare numbers elevated, CMS has embarked on the next step of its government takeover of healthcare.
It seems CMS is taking a page from Jonathan Gruber’s book; rather than allowing the “stupid” masses to make a decision […]
“China: Turning away from the dollar – FT.com”
“Russia may seek China help to deal with crisis | South China Morning Post”
“Wealth gap in America widens to record level, report says – LA Times”
“$4.20 Per Pound: Price of Ground Beef Climbs to Another Record | CNS News”
“Personal Saving Rate – FRED – St. Louis Fed”
“Judicial Watch Obtains Records Revealing Obama’s $1,176,120.90 in Transportation Expenses to Attend Political Fundraisers in Los Angeles […]
Leaving the West Behind
Germany Looks East
Russia’s annexation of Crimea in March 2014 was a strategic shock for Germany. Suddenly, Russian aggression threatened the European security order that Germany had taken for granted since the end of the Cold War. Berlin had spent two decades trying to strengthen political and economic ties with Moscow, but Russia’s actions in Ukraine suggested that the Kremlin was no longer interested in a partnership […]
Graphene is just one atom thick, but it’s poised to cast a wide shadow over the future of business. Some 200 times stronger than steel yet lighter than paper and more flexible than a contortionist, graphene is hailed as a miracle material with the potential to revolutionize products and processes across industries from consumer electronics to biomedicine.
First isolated in 2004 by physicists Andre Geim and Konstantin Novoselov, who won a […]
Use google translate:
Greece had violated EU sanctions against Russia and the Russian Federation signed a contract for the supply of spare parts for air defense system. It is reported by RIA Novosti and the military source in Athens. “The contract for the supply of spare parts for top-M-1, and” OSA-AKM “signed this week,” – a spokesman said. The amount of the contract were not disclosed. “It is important not only […]
by Editor of the Fabius Maximus website
Summary: Our leaders lie to us because they can, because we don’t hold them to a higher standard. This breaks from American’s wild west traditions, where a man’s background was unknown but his reputation was everything. This post lists five of the most outrageous US government lies since WWII. A complete list would require you to spend all day reading it. When we no […]
from SGT Report.com:
Our friend Michael Noonan from Edge Trader Plus joins us to discuss the stark economic reality humanity is facing under the iron fist rule of the Rothschild International banking SYSTEM of total control. And despite the inevitable future collapse of the Dollar and the consequent end of U.S. world hegemony, according to Michael, the chances of toppling the Rothschild’s from their seat of world power appear to be […]
Approximately 3% of the population is preparing for a major event to occur within the United States. As I read the headlines from week to week, it seems as though almost any SHTF scenario is possible in today’s day and age. There are financial issues, geopolitical instability, peculiar changes in our natural environment (e.g. -mass animal deaths), solar weather issues, etc. While some have absolute conviction in what they […]
Nobody wants to return to the kind of risky home loans that spurred 2008’s banking collapse. Sliding back toward lax lending would be nuts.
Yet Washington officially endorsed such loans this month.
Federally controlled mortgage giants Fannie Mae and Freddie Mac announced they’ll back loans to low-income Americans who put just 3% down, even though such loans have a high default rate.
The risky mortgage program has the blessing of Federal Housing Finance […]
#oil financial crisis? Deutsche Bank says Brent below $60 implies “significant default risk” of US energy high yield pic.twitter.com/EO4guh3vAd
— Javier Blas (@JavierBlas2) December 16, 2014
#OIl prices stabilise above $60 a barrel: it could be a mirage as physical market continues to flash weakness #OPEC pic.twitter.com/ziydbMKki7
— Javier Blas (@JavierBlas2) December 22, 2014
Saudi oil min says ready to raise output if new clients emerge
Saudi Arabia is prepared to increase its oil output […]
by Adam Taggart
Whether or not you’ve had time yet to plow your way through David Collum’s excellent 2014 Year in Review, our annual podcast with Dave always brings additional color to light — and this year’s is no exception.
To me, the global economic theme is existential risk. That’s a phrase I use repeatedly throughout my Year In Review. Things now seem to be coming to a head.
A metaphor that I came […]
Chris Powell of the Gold Anti-Trust Action Committee (GATA) says the evidence is clear that central banks are intervening in all futures markets. Powell charges, “The documents don’t prove that any particular central bank is trading any particular futures contract on any given day, but they do show the central banks are trading secretly in all U.S. futures markets. That means our market economy has been destroyed. It really means […]
By Michael Snyder
Make no mistake – there is now a state of open warfare on the streets of America. Earlier this year it was being reported that the number of police officers killed on the job was up 40 percent in 2014, and that was before all of the civil unrest caused by the deaths of Michael Brown and Eric Garner. At this point, attacks on police officers are becoming […]
Beijings airpocalypase- city on the verge of being uninhabitable, elite schools building air tight domes for kids sports
Beijing’s air quality has long been a cause of concern, but the effects of its extreme levels of pollution on daily life can now be seen in physical changes to the architecture of the city. Buildings and spaces are being reconfigured and daily routines modified to allow normal life to go on beneath […]
For some retirees, Congress has played the Grinch this holiday season.
Tucked into the federal spending bill were provisions that will allow certain struggling multi-employer pension plans to reduce benefits already being received by retirees.
The move was the result of an alarm from the Pension Benefit Guaranty Corp. that multi-employer plans covering more than 1 million participants are substantially underfunded and, without legislative changes, will probably fail. The deficit for PBGC’s […]
Ok, we CANNOT murder cops. We cannot give the government a reason to declare “State of Emergency” and whip out that Martial Law.
— CATTY NOIR (@AZEALIABANKS) December 21, 2014
Azealia Banks: We CANNOT murder cops and risk government declaring martial law
AL SHARPTON LEADS MARCH IN DC AS NYC PROTESTERS CHANT: ‘WHAT DO WE WANT? DEAD COPS!’ Joining the families of blacks killed by police, thousands marched toward the capitol and […]
America’s Big Five Are Plunging the World Into Another Banking Crisis
A comeback of the pre-crisis lending practices by the world’s biggest banks could end in another banking crisis. So, what exactly are the banking policies? Radio Sputnik is discussing it with former World Bank economist Peter Koenig.
In his story titled ‘Memories of Financial Crisis Fading as Risks Rise’ an AP economics writer Paul Wiseman points to several factors which banking analysts describe […]
December 20th, 2014
Prior to the crash of 2008 global trade was rocking. It was a boon for shipping companies around the world who are responsible for moving raw materials, commodities and consumer products from one country to another. Wall Street, of course, had devised a way to track all of this movement and often pointed to the Baltic Dry Index (BDI) as the primary indicator for health in the global […]
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With the US raising their debt ceiling, are we in a global bail-out bubble that will eventually burst? This doc offers a fresh insight into the greatest economic crisis of our age: the […]
Saudi Arabia and the United Arab Emirates reiterated pledges to keep pumping the same amount of crude, blaming non-OPEC producers for the glut of oil that’s driven prices to the lowest in five years.
Suppliers from outside the Organization of Petroleum Exporting Countries should cut “irresponsible” output, U.A.E. Energy Minister Suhail Al Mazrouei said in Abu Dhabi yesterday. Even if non-OPEC producers were to offer cuts, OPEC probably wouldn’t follow suit, […]
This is the 3rd part of this 3 part interview and Rob does not disappoint. We discuss how we arrived at this point and dig into what the banksters have up their sleeves for 2015 and beyond.
Will the treasuries blow up, will China, Russia and the other BRICS take break away completely from the Anglo American banking cartel?
What role will gold and silver play in the upcoming system?
Stay turned to […]
More Confirmation Germany Continues To Repatriate Gold
In addition to a post I wrote earlier about the Bundesbank continuing to repatriate gold from the US and France, in contrast to a misleading article from Bloomberg suggesting the program was canceled, I present an email I just got in from Peter Boehringer, founder of Repatriate Our Gold in Germany:
Dear E-Mail partners: A quick info in English because I know there are many people
around the world waiting for gold repatriation news from Deutsche Bundesbank (BuBa) […]
Cunning fraudsters have conned the Ukraine Central Bank branch in Odessa into buying $300,000 worth of gold which turned out to be lead daubed with gold paint.
“A criminal case has been opened and we are now carrying out an investigation to identify those involved in the crime,” a spokesman for the Odessa police force is quoted by Vesti.
The news was first reported by Odessa’s State Ministry of Internal Affairs.
#Greece Pulse poll: Syriza 28.5, ND 25, Pasok 6.5, Potami 5.5, GolDawn 5.5, KKE 5, IndGreeks 3.5
— Efthimia Efthimiou (@EfiEfthimiou) December 22, 2014
Total global AUM is around $117 trn pic.twitter.com/gC1PDsMjNd
— Nick (@NickatFP) December 22, 2014
Global Aging: More Headwinds for U.S. Stocks? http://t.co/xrm66nSCA0 pic.twitter.com/IJLNaL6dLF
— Nick (@NickatFP) December 22, 2014
Under a new set of family insolvency laws in Spain, those who have stopped paying their mortgage will be shielded from eviction from their homes.
Via translation from El Confidential, please consider Changing the Bankruptcy Law.
A bill in Parliament proposes new regulations on family insolvencies and will protect from eviction all those individuals who have suspended mortgage payments. The reform centers around rights of the ‘consumer debtor’ which will have full […]
Internet connectivity between North Korea and the outside world, though never robust to begin with, is currently suffering one of its worst outages in recent memory, suggesting that the country may be enduring a mass cyber attack a few days after President Obama warned the US would launch a “proportional response” to North Korea’s hack against Sony.