While central governments’ fiscal problems plague many economies, a parallel crisis is enveloping many subnational governments around the world. From Spain to China to the United States to Italy, these governments – regions, states, provinces, cities, and towns – face immense fiscal challenges. Higher levels of government are “on the hook” to bail out local insolvent governments, and may even suffer bond downgrades as a result; in Spain, Italy, and China, that role falls to the [...]
The eurozone faces a summer of unprecedented turbulence as the financial crises in Spain and Italy spread from the centres of government to the countries’ regions.
In Spain, the disruption on the financial markets has triggered a series of public protests on the streets. These threaten to pose the biggest challenge to the country’s democratic system since the death of the dictator Franco in 1975, which ushered in a period of [...]
Kevin “Coach” Collins
June 5, 2012
The Department of Justice thinks it can “order” Florida to stop removing illegal non-citizens from her voter registration rolls. The Sunshine State announced it will ignore the “order.” Let’s see Barack Obama and Eric Holder back it up.
The fight over States’ rights versus the strength of an all powerful central government has been set in motion; the fuse is lit.
Since Barack Obama and his Chicago thugs [...]
From King World News:
Today, King World News interviewed one of the wealthiest and most street-smart pros in the business, Rick Rule. Rule is founder of Global Resource Investments, which is now part of the $10 billion strong Sprott Asset Management. KWN reached out to Rick to get his take on what is happening in key markets.
Here is what Rule had to say:
“I guess two things stand out to me. The [...]
Today King World News interviewed one of the wealthiest and most street-smart pros in the business, Rick Rule. Rule is founder of Global Resource Investments, which is now part of the $10 billion strong Sprott Asset Management. KWN reached out to Rick to get his take on what is happening in key markets. Here is what Rule had to say: “I guess two things stand out to me. The first is [...]
From The Gold Report:
Like water, which goes from a life-giving force in the right proportions to life threatening when it floods a constricted space, Global Resource Investments Founder and Chairman Rick Rule is worried about drowning in a sea of currency printed by central banks all over the world in an attempt to create liquidity. “When I say adding liquidity, I’m not trying to say that they’ve mobilized private savings,” [...]
Around 45 percent of children in Fukushima Prefecture checked by the prefectural and central governments in late March experienced thyroid exposure to radiation, although in all cases in trace amounts that didn’t warrant further examination, officials of the Nuclear Safety Commission said Tuesday.
The survey was conducted on 1,080 children from newborns to age 15 in Iwaki, Kawamata and Iitate from March 26 to 30 [...]
Written by Charles Hugh Smith from Of Two Minds
A 5-Year Scenario: 2011-2016
In this scenario, the wheels fall off the debt-fueled global “recovery” and assets bottom in 2014.
Here is one possible scenario for the next five years. Why do I consider this somewhat more likely than other possible scenarios? Here some undercurrents which may be generally under-appreciated:
1. There is a difference between speculative and organic demand. [...]
What we have is every industrialized country in the world with debt-to-GDP rations comparable to post-WW2 levels.
The only difference is
1) “Europe” (as an entity) and the United States are running massive current account deficits.
2) Every country is running massive budget deficits
3) The birth rate is less than half of what it was, industrialized populations are aging (in every country), and declining (in the majority of European countries).
4) In the midst [...]