Max Keiser: 2013, Year of The Great Crash
Biderman’s Daily Edge: Expect Immediate Negative Impact From Higher Taxes
“After raising taxes on the rich a little bit, the Democrats will come back for serious tax revenue,” he said. “In acts two and three, the Democrats will come back for the real money – an energy tax and a value-added tax that will impact everybody, especially the middle class.”
“I think the impact will be less than 1 percent, so effectively no impact at all. I don’t believe that either the tax or the fiscal cliff are the cliffs that we should be fretting about,” Kass told CNBC, adding “we should be fretting about the earnings cliff.”
“Less than 1 percent means that the impact of a rise in dividend and capital gains taxes are simply noise.”
PRINT, PRINT, PRINT: Fed to Launch Fresh New Bond Buying “to help economy”
The decision would cement expectations that the Fed will keep buying a combined $85 billion of Treasuries and mortgage-backed bonds a month.
by Alister Bull, Reuters:
The Federal Reserve is set to announce a fresh round of Treasury bond purchases when it meets next week, avoiding monetary policy tightening to maintain support for the weak U.S. economy amid uncertainty over the looming year-end “fiscal cliff.”
Many economists think the U.S. central bank will announce monthly bond purchases of $45 billion after its policy gathering on December 11-12, signaling it will continue to pump money into the U.S. economy during 2013 in a bid to bring down unemployment.
“We expect status quo,” said Laurence Meyer of the forecasting firm Macroeconomic Advisers. “We expect purchases will continue at the same monthly rate as over the last three months; that the composition will be the same, and that the maturities distribution will be the same.” READ MORE
Vision Victory: Hyperinflation Possible As Early As 2013
Jim Willie is the editor of the “Hat Trick Letter.” He has a PhD in statistics and crunches the numbers on things like gold, currencies and bonds. Jim Willie says, “Gold is the anti-bubble. . . . It is the response to the biggest bubble in the history of the modern world, and that is Treasury bonds.” It was recently reported that the Federal Reserve is buying 90% of all Treasuries. To that, Willie says, “The supply of gold is lacking and demand for Treasuries is evaporating. It’s that simple.” Willie thinks the global economy will not get better because, “. . . they have no solutions, and they are praying they can keep this going.” Like it or not, gold is going to make its way back into the monetary system. Jim Willie contends, “The gold standard will return because gold will be the last asset left standing. Everything in paper is going to go to Hell.” The transition will be very painful. Willie says, “We have a climax bust coming for bonds, currencies and the banking system because they are all interrelated.” Join Greg Hunter as he goes One-on-One with Jim Willie. [Read more...]
- advertisements -