Greenspan On The Cliff: This Leveraged Economy Was No Accident. Take The Deal. Recession Is Guaranteed.

from dailybail:


Take the deal!

Short excerpt from Greenspan’s interview Friday with Bloomberg’s Betty Liu.

I’m still a skeptic.  The spending cuts agreed upon will not be significant.  Greenspan recommends means testing entitlement programs, which is the fairest way to make large cuts.  The poor and middle class are not affected, and the wealthy give up their benefits in exchange for a tax deduction.

Here’s the full interview.

Start listening at the 545 to the 600 mark. 

This man just admitted that this leveraged economy was no accident.


Nov 2010: Alan Greenspan admits that it was all a scam and fraud



CHART: Just How Bad Is The Drop From The Fiscal Cliff?



FABER: ‘The Great Reset Is Coming!’

‘Global markets will implode.’

Marc Faber on Squawk Box this morning.


Signs Of Investors Are Preparing For The Imminent Collapse

from businessinsider:

Bloomberg’s Lisa Abramowicz reported earlier in the week:

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Investors yanked a record volume of cash from BlackRock Inc. (BLK)’s exchange-traded fund that buys junk bonds as the notes lose value for the first month since May.

The $16.3 billion fund reported an outflow of 2.4 million shares yesterday, equal to about $218.9 million, according to data compiled by BloombergThat’s the biggest daily withdrawal in the five-year history of the iShares iBoxx High Yield Corporate Bond Fund, the largest of its kind.


Panic Selling? Why Investors Are Dumping Dividend Stocks

The fear of higher taxes has put a chill on dividend-paying stocks, in what some analysts say could be an overreaction to the “fiscal cliff.”

The Bush-era tax cuts on dividends and capital gains, to 15 percent, are in the cross hairs, as congressional leaders and President Barack Obama this week start work on reshaping the tax and spending components of the so-called fiscal cliff.

(Read More: Washington Confronts ‘Fiscal Cliff’)

The cliff is the $607 billion expiration of a bundle of tax cuts and other programs, and the onset of automatic spending cuts that take place starting Jan. 1 if Congress does not act.

For dividend investors, a worst-case scenario for the wealthiest Americans would be that the upper income tax rate is returned to 39.6 percent, and dividends could then be taxed at that much higher rate, if the Bush tax cuts are left to expire.


CNBC: Wealthy Dump Assets Amid Worries About Going Over ‘Cliff’


DERIVATIVE MARKETS CONTRACTING: Credit And Derivatives Are Decreasing At An Alarming Rate!! Market Crash Inevitable?



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