I expect this from CNN, the world is burning around us while mainstream media is telling us we are doing great!
(CNN) – As the stock market continues to show record highs, the number of Americans who say things are going well in the country has reached 50% for the first time in more than six years, according to a new national survey.
But that doesn’t mean the country is entirely out [...]
Europe’s Last Green Shoot Is Wilting
Germany, it seems, has had enough with its taxpayers implicitly bearing the burden of the rest of Europe’s profligacy as the final solution chosen for Cyprus clearly shows (especially in light of pending German elections). But with all that ‘stabilitee’ based on one nation’s shoulders, the following chart suggests Europe’s Atlas is about to shrug….
Chart: Credit Suisse
Why The Euro Is Doomed In 4 Steps
We’re going [...]
7 global companies warn tough times ahead
Companies will soon close the books on the quarter, and if comments from Intel and FedEx are an accurate indication, profit warnings could figure prominently in their reports. Multinationals are facing stiffer economic headwinds than at the start of the year. The U.S. dollar has appreciated against the euro, nicking sales in a region that’s already reeling. And growth rates have slowed elsewhere. These worries extend [...]
Companies will soon close the books on the quarter, and if comments from Intel and FedEx are an accurate indication, profit warnings could figure prominently in their reports. Multinationals are facing stiffer economic headwinds than at the start of the year. The U.S. dollar has appreciated against the euro, nicking sales in a region that’s already reeling. And growth rates have slowed elsewhere. These worries extend even to China, which [...]
Open Secret just published this list:
Barack Obama (D)
1 University of California $491,868
2 Microsoft Corp $443,748
3 Google Inc $357,382
4 DLA Piper $331,715
5 Harvard University $317,516
Individual contributions $347,909,254
PAC contributions $0
Mitt Romney (R)
1 Goldman Sachs $676,080
2 JPMorgan Chase & Co $520,299
3 Morgan Stanley $513,647
4 Bank of America $510,728
5 Credit Suisse Group $427,560
Individual contributions $192,355,237
PAC contributions $838,481
Euro Gold Technicals Look Near Perfect
Today’s AM fix was USD 1,664.25, EUR 1,325.04 and GBP 1,051.66 per ounce.
Yesterday’s AM fix was USD 1,663.50, EUR 1,325.18 and GBP 1,053.52 per ounce.
Silver is trading at $30.79/oz, €24.62/oz and £19.54/oz. Platinum is trading at $1,519.10/oz, palladium at $630.80/oz and rhodium at $1,025/oz.
Gold edged up $3.30 or 0.2% in New York yesterday and closed at $1,667.20. Silver slipped in Asia then hit a high [...]
The worst drought in more than 50 years is having a devastating impact on the Mississippi River. The Mississippi has become very thin and very narrow, and if it keeps on dropping there is a very real possibility that all river traffic could get shut down. And considering the fact that approximately 60 percent of our grain, 22 percent of our oil and natural gas, and andone-fifth of our coal travel down the Mississippi [...]
From Economic Policy Journal:
Money supply growth has slowed dramatically in recent months, setting up a major decline in economic activity and a potential stock market crash. What’s behind this? Paul Krugman offers one theory:
Hmm. When I published a critique of Ben Bernanke’s recent performance, suggesting that he should reread his own critiques of the Bank of Japan, there were a fair number of people saying that I was just a [...]
And the “hits” from law enforcement keep on coming! I predict many months of paid leave … thank God we have these great men protecting and serving!
Man on life support after Minneapolis cop punches him for ‘talking loud’
By David Edwards
Monday, June 18, 2012 10:17 EDT
Sgt. David Clifford, a member of the Minneapolis SWAT team, turned himself in to authorities on Sunday after a father of four who he reportedly “sucker [...]
From The Reformed Broker:
The S&P 500 just broke its 200-day moving average on Friday, a major development technically as many believe that the market above its 200-day is safe to own and in accumulation mode, while a market that sits below this measure of supply and demand is in bad shape and cannot be owned.
I nicked the below screenshot from my friend ZorTrades (via Chart.ly) and then I annotated it [...]
By Morgan LittleApril 28, 2012, 9:06 p.m.
WASHINGTON — The 98th annual White HouseCorrespondents’ Dinner, held Saturday evening at the Washington Hilton, is intended to celebrate those journalists who inform the American public about important events and discussions in the nation’s capital. But the focus eventually ends up being the self-deprecating speech by the president and the subsequent address by a notable comedian. This year was no different, with President Obama and late-night [...]
By: Jim Willie CB, GoldenJackass.Com <
– Posted Wednesday, 25 April 2012 | Share This Article | Source: GoldSeek.com
The so-called Global Financial Crisis is a term so widely used that it has earned its own acronym of GFC. When first seen, it seemed like girl friend club or some such, since many friends use GF loosely to refer to sweethearts. The GFC is falsely named, since it is more accurately described as a global monetary war [...]
One thing that makes me wonder about the JPM noise, the Executive Order for Martial Law, the DHS 450 million rounds of ammunition is this—morons like Bachus.
September 18, 2008 is Officially Deemed “National Living Under a Rock Day” Posted on February 10, 2012 by Davos
The Office of Congressional Ethics [oxymoron] looks into Bachus’s insieder trading activity Link . 9-18-2008: Bachus participated in a closed-door briefing with Pauslon and Bernanke. 9-19-2008: Bachus shorts market with options.
One of the [...]
From Frugal Dad:
I probably could have told you that American men were in bad shape (both financially and physically), but I didn’t realize just how bad until now. The average guy has almost $15k in debt and only $3k in savings, and 16% of guys rarely pay off their credit card bills. If this isn’t why Frugal Dad was founded back in 2007, then I don’t know what is.
But my [...]
It was a sad day for America when our elected “leaders” in Washington could not even reduce $1.2 Trillion dollars from the budget over ten years. Americans used to come together when there was a crisis, but it seems no longer. We will just be allowed to go down the debt drain with the rest of the world due to our inept Congress.
You see. As I write this piece the [...]
By ARTHUR LAFFER, WSJ
Some people actually believe government can create jobs by taxing and borrowing from people with jobs and then giving that money to people without jobs. They call this demand stimulus. To make matters worse, other people think these demand-stimulus ideas warrant a serious response.
Government taxes cigarettes to stop people from smoking, not to get them to smoke. Government fines speeders so [...]
(CNN) — Only a third of all Americans approve of how President Barack Obama is handling the economy, according to a new national survey.And with a CNN/ORC International Poll also indicating that more than three-quarters of the public say the country is in bad shape right now, there’s little wonder why the president is getting such low marks.According to the poll, released Wednesday morning, 28% of people [...]
Is the United States “number one”? Many Americans take deep pride in their nation and the truth is that the U.S. has a lot going for it. The United States has the largest economy in the world. The United States also has the most powerful military on the entire planet. The United States has produced most of the greatest movies that the world has ever [...]
Former Utah Gov. Jon Huntsman, who is mulling a bid for the 2012 GOP presidential nomination, said President Obama has “failed on the economic front.”
“On the economic side, there are no signs of success, very little,” Mr. Huntsman said in a taped interview broadcast Sunday on CNN’s “State of the Union.”
The criticism of Mr. Obama marked a shift toward a more partisan message from Mr. Huntsman, who until about six [...]
Meredith Whitney is back.
In an interview with Fortune, she says that state finances are WORSE than estimated.
But… she says: “I never intended on framing the scale of defaults as a precise estimate, but I continue to believe that degree of municipal defaults will be borne out over the cycle. I meant to point out that the state debt problem is a massive headwind for the U.S. [...]
If the election of America’s first African-American president was expected to give blacks an economic boost, it hasn’t emerged yet. Indeed, the percentage of African-American men with a job has dropped to its lowest level since records began in 1972, according to the government’s monthly jobs report released last week.
Even as the economy added a better-than-expected 244,000 jobs, the percentage of black males over 20 [...]
Donald Trump may be rich, but if he decides to run for president, he plans to ask voters to “invest” in his candidacy.
Trump has said repeatedly that he is willing to spend $600 million of his personal fortune to run for president, but to meet the $1 billion price tag for a 2012 campaign, even he will ask for campaign donations.
“If I run, [...]
The PIIGS Crisis Is Back: Here Are 4 Key Things To Think About
* Shockingly, despite the fact that we’re on the verge of a new PIIGS crisis, the euro is totally unmoved. It’s been moored to this $1.39-$1.40 range forever, in sharp contravention to the stomach-churning declines it experienced during the first PIIGS crisis. What’s going on? Is it that, despite the structural issues facing the eurozone, the ECB doesn’t [...]
Here is how this rigged PONZI scheme goes:
1. Fed gives near ZERO % money to the banks
2. Banks buy Treasuries from Treasury for juicy “safe” 2% return and finances our deficit
3. Feds buy BACK Treasuries from the bank AKA QE with freshly minted USD
4. Back to 2 and 3
Now what is the saying about madness is doing same stupid things over and over again looking for different results?
CBS News Poll analysis by the CBS News Polling Unit: Sarah Dutton, Jennifer De Pinto, Fred Backus and Anthony Salvanto.
The recession may technically be over, but most Americans aren’t feeling the effects: A newly-released CBS News poll finds that just 22 percent of Americans say the economy is getting better.
A greater percentage – 27 percent – say the economy is actually getting worse, while one in two say [...]
*Real estate is in such bad shape esp with all that shadow inventory. How significant is real estate in GDP?
* With real estate in the hole, labor is not as mobile since people are stuck with their underwater houses. So, thereâ€™s imbalance of supply and demand of labor.
* States and local unlike Fed cannot print money and run deficits. Itâ€™s been just a few months since new fiscal year started. [...]
Reasons why the government loaned GM and Chrysler money and took control of them – it saved Ford from bankruptcy as well:
“Transplant” auto factories do not actually retain auto jobs in the U.S. They globalize the jobs:
GM and Chrysler are less than 1% of any “bailout” money given by the government:
Citi, JP Morgan, Goldman loaned Ford money in 2006 were bankrupt in 2008:
Ford is loaned money from the U.S. government [...]