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Will 2013 Be 2008 All Over Again? In 2013, we are receiving the same banker and mass media propaganda that we heard in 2008. The stock markets are okay, economies are recovering, blah, blah, blah. However, do any of the facts support the propaganda? For example, this “bullish” US stock market has not even recovered to the levels of October, 2007. And even, if more QE, more HFT low-trading volume rigging [...] A new survey of economists suggests unemployment is likely to remain right where it is over the next year, stalling at the current level of 7.8 percent through the fourth quarter of 2013. The widely watched National Association for Business Economics Outlook, a survey of 44 professional forecasters, says job growth next year is expected to average 155,000 per month, a modest figure that barely keeps pace with population growth and will not [...] According to the latest survey from the National Association for Business Economics (NABE) hiring over the next six months looks grim. A NABE Poll Shows Fewer U.S. Companies Planning to Hire
Only 23 percent of the firms polled in June plan to add to staff in the next six months, the National Association for Business Economics said on Monday. NABE’s prior survey, conducted in late March and early April, had shown 39 percent of [...] Companies are growing more pessimistic about the U.S. economy this year and plan to limit hiring as the European debt crisis hurts sales and concern rises over the looming so-called fiscal cliff, a survey showed. Some 62 percent of businesses project no change in employment over the next six months, according results of a National Association for Business Economics’ survey released today in Washington. The share is up from 48 percent [...] GUEST EXPERT 04/24/2012 RealPlayer WinAmp Windows Media MP3 James J Puplava CFP with Bud Conrad Jim welcomes back Bud Conrad, Chief Economist at Casey Research. Bud sees large and growing demands for credit from the federal government, which will require the Fed to continue to create a large and growing supply. This will lead to debasement of the dollar, higher inflation, and higher interest rates, all long-term negatives for the US economy. As government debt grows, the interest to be paid grows [...] by ZH While it appears to us that Bernanke’s message was loud and clear, there are those who need validation and peer-confirmation. Such as that from the firm whose alumni run the Fed, namely Goldman Sachs. Below is Jan Hatzius’ take on the “surprising” Chairman speech which essentially said QE can and will come at any time there is a downtick it the market, masked by the unemployment rate rising to [...] It’s hard not to think it’s a big deal when a branch of the Federal Reserve system calls for the breakup of major American banks. The bank has just released its annual report, and the title of the letter is: Choosing the Road to Prosperity Why We Must End Too Big to Fail—Now. Here’s the full letter from Dallas Fed President Richard Fisher, generally known as one of the most hawkish and conservative Fed Presidents. Letter [...] RealPlayer WinAmp Windows Media MP3 James J Puplava CFP with Bud Conrad Jim welcomes back to Financial Sense Newshour Bud Conrad, Chief Economist at Casey Research LLC. Bud believes the US will opt for inflation (more money-printing) as the only way to deal with its massive and compounding debt. As well as being chief economist for Casey Research, Bud is also author of the bookProfiting from the World’s Economic Crisis. Bud holds a Bachelor of Engineering degree from Yale and an MBA [...] WASHINGTON (AP) — The U.S. trade deficit surged to the widest imbalance in more than three years in January as imports hit an all-time high, reflecting big demand for foreign-made cars, computers and food products. U.S. exports to Europe fell, raising concerns that the debt crisis in that region could dampen U.S.economic growth. The January trade deficit widened to $52.6 billion, the biggest gap since October 2008, the Commerce Department reported Friday. Imports rose [...] Economists cut growth forecasts for 2011 and 2012 “In their latest forecast, top economists with the National Association for Business Economics predict that the economy will grow 1.7 percent this year — down from the group’s May prediction of 2.8 percent expansion. For 2012, the group is forecasting growth of 2.3 percent, compared to a May forecast of 3.2 percent growth.” Just headlines: Bank of America will cut 30,000 [...] If oil prices continue to climb, it could force the Federal Reserve to make a new round of asset purchases, according to Atlanta Fed President Dennis Lockhart. Appearing at the National Association of Business Economics in Arlington, Va., Lockhart said that while he doesn’t think additional purchases are currently warranted, more stimulus could be needed if oil prices continue to climb. “If [the rising price of oil] [...] Fed’s Yellen: Possible that low rates feed bubbles DENVER (Reuters) – Low interest rates can contribute to financial bubbles even if they are not a primary culprit, Janet Yellen said in her first speech as vice chair of the Federal Reserve. At a time of growing concern about the international repercussions of another possible round of monetary easing by the U.S. central bank, Yellen’s comments suggested Fed officials [...] Greece urged to give up euro “THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy. The Centre for Economics and Business Research (CEBR), a London-based consultancy, has warned Greek ministers they will be unable to escape their debt trap without devaluing their own currency to boost exports. The only way this can happen is if [...] IMF, EU, Government officials all seem to be starting to panic again, just as they did during the Lehman collapse, stressing the need for immediate action or else: http://www.myfoxal.com/Global/story.asp?S=12371284 IMF says they want to help Greece and not to fear them: Jim O Neil head of Global Economic Research at Goldman Sachs says Greece doesn’t matter, however this doesn’t appear to be true: Germany stresses Greece will have to endure austerity for them to [...] |
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