By Michael Snyder
Did you know that the rate of homeownership in the United States has fallen to a 20 year low? Did you know that it has been falling consistently for an entire decade? For the past couple of years, the economic optimists have been telling us that the economy has been getting better. Well, if the economy really has been getting better, why does the homeownership rate […]
Eurozone alarm grows over Greek brinkmanship
Eurozone officials are increasingly worried that Greece’s brinkmanship over its bailout will plunge the country into financial chaos after its finance minister said on Sunday that it would take up to four months to agree a “new contract” with creditors.
Yanis Varoufakis, Greece’s newly appointed finance minister, said Athens would reject any further loans under its international rescue plan, despite Greece’s €172bn bailout […]
With the price of oil hovering around $44 and U.S. oil inventories at record highs the general consensus is that the economy will soon see a boost in consumer spending as Americans will take their gas savings and spend it at retail stores.
But there’s a lot more going on with oil on a geo-political scale than can be pumped into a 30-second propaganda soundbite from financial pundits and […]
70% of U.S. households struggle with either low incomes, insufficient savings, or debt http://t.co/BYgEe5rqO8 pic.twitter.com/Dqaz8zWkfF
— Real Time Economics (@WSJecon) February 1, 2015
The typical low-income U.S. household has only 9 days of income saved in the bank or at home.
Some 55% of U.S. households are “savings-limited,” Pew says, which means they don’t have enough liquid cash on hand to replace one month’s income. The typical low-income household has […]
In Denmark You Are Now Paid To Take Out A Mortgage
With NIRP raging in the Eurozone and over €1.5 trillion in European government bonds trading with negative yields, many were wondering when any of this perverted bond generosity will spill over to other debtors, not just Europe’s insolvent governments (who can only print negative interest debt because of the ECB’s backstop that it will buy any piece of garbage […]
Here’s why the dollar is so strong and what it means for investors http://t.co/wBOkUjlGRK pic.twitter.com/sw2mMurjXT
— Business Insider (@businessinsider) January 31, 2015
The stronger dollar is slicing sales and profits at big American companies, prompting them to put renewed emphasis on cost cutting and cramping the broader U.S. economy. The currency effects are hitting a wide swath of corporate America—from consumer products giant Procter & Gamble to technology stalwart […]
With Silver enduring the largest 1-day smash in 18 months Thursday, PM Fund Manager Dave Kranzler joined the show this week discussing:
1. Gold & silver take-down on options expiration/ First Notice Day- Cartel had to force selling of 3 million oz of Feb gold contracts to prevent a potential run on delivery in Feb gold! 2. With the cartel desperate to prevent a delivery run on […]
Mac Slavo January 31st, 2015 SHTFplan.com
Want to own your own home, but stuck, temporarily, renting until you can? You aren’t alone.
Wolf Richter outlined a pretty eery scenario.
The 2008 financial Armageddon was in larger part a result of the housing bubble bursting. Thanks to the subprime mortgage scandal, millions of homeowners were put in homes they couldn’t afford, making the awful game of musical chairs an […]
Very few observers expect a repeat of the subprime mortgage crisis. But the former chief credit officer of Fannie Mae is sounding the alarm. We have a forecast of our own.
by Adam Taggart
I quit Wall Street and decided that it was time to talk more about what was going on inside it, as it had changed. It had become far more sinister and far more dangerous.
~ Nomi Prins
Today, the ‘revolving door’ connecting our political and financial systems is evident to anyone with eyes. But this entwined relationship between Washington DC and Wall Street is nothing new, predating even […]
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter
Ratings agency Fitch had already warned about Canada’s magnificent housing bubble that is even more magnificent than the housing bubble in the US that blew up so spectacularly. “High household debt relative to disposable income” – at the time hovering near a record 164% – “has made the market more susceptible to market stresses like unemployment or interest rate increases,” it wrote back in July.
On September 30, […]
by Charles Hugh-Smith
The Greek Elites and kleptocrats are terrified of the discipline that leaving the euro will impose, but the general public should welcome the transition to an economy and society that has been freed from the shackles of Imperial debt and the kleptocracy that has bled the nation dry.
Although the financial media is blathering about negotiations and gamesmanship, the truth is Greece just blew up the Empire’s […]
The Neocon march to World War III with Russia is explored with retired Assistant Secretary of the Treasury, Paul Craig Roberts. How George W. Bush and Dick Cheney managed to embolden the far right towards reckless endangerment of global peace, and how Russia has become the focus of the static is discussed. The possibility of global economic collapse, plus the Reagan administration figure talks about how the political landscape has […]
Martin Armstrong, Armstrong Economics, Released on 2/1/15
The outstanding national debt of Greece according to EuroStat was almost 320 billion euros at the end of 2013. The question is how can this crisis be resolved? Merkel is tearing Europe apart and her ideas of austerity are in conflict with the very concept that governments borrow perpetually expanding their debt and never repay. Where is this austerity? You are all […]
Marc Faber talks global economy & central banks, biotech, social media & more
Sources: “Dijsselbloem: “You just killed Troika” – Varoufakis “WOW!” (video, pics)” http://www.keeptalkinggreece.com/2015… “ECB’s Liikanen: No lending to Greek banks if no deal by end of February | Reuters” http://www.reuters.com/article/2015/0… “Greece Sets Up Cash Crunch for March Telling EU It’s Over – Bloomberg” http://www.bloomberg.com/news/2015-01… “Podemos March for Change: Huge crowds rally in Madrid to support Spanish leftist party – Europe – World – The Independent” http://www.independent.co.uk/news/wor… “News from The Associated […]
Lily Fang, INSEAD Knowledge, Released on 1/28/15
“If you really have good judgment and if you are curious and can think independently, then chances are you’ll do well in the investment world,” says Rogers. However, he believes times have changed and people in the financial sector now have the wind in their faces rather than at their backs. “It’s not going to be as easy in the next decade as […]
Singapore Dollar Is Weakest Since 2010
Singapore unexpectedly eased monetary policy, sending the currency to the weakest since 2010 against the U.S. dollar as the country joined global central banks in shoring up growth amid dwindling inflation.
The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool, said in an unscheduled statement Wednesday it will seek…
Germans in shock as new Greek leader […]