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Mac Slavo
By all accounts, the mainstream media and corporate leaders would have us believe that the world is in a new bull market. They’ll point us to the stock market as evidence of their claims that the economy is growing and life for the average citizen is returning to normal. Few will discuss the fundamental issues facing financial markets, the least of which is continued unemployment and less consumer spending. [...] Mac Slavo
Over the last few years political and financial leaders in Europe and the United States have implemented policies, regulations and bailouts costing global taxpayers trillions of dollars with the promise that these measures would lead to economic growth and recovery. What happened in Europe today is yet further proof that nothing they’ve done has fixed the underlying fundamental issues surrounding the events that led to the crash of [...] Mac Slavo
America is about to be put through the meat grinder and despite what President Obama or Governor Mitt Romney say they will do to fix the fundamental issues facing our country, the end result is inevitable. Neither the Republicans or the Democrats can change what’s coming, because the fact is, they are equally responsible for where we are today. As Charlie McGrath of Wide Awake News notes, it’s no longer just [...] SocGen summarizes today’s Greek elections and their implication:
What next in Greece? As we head to press, the preliminary results (82.5% of national vote counted) of the Greek general election show 130 seats out of 300 seats to the pro-programme New Democracy Party and 33 seats to PASOK, combined the two pro-programme parties should thus have secured enough seats to form a unity government. The largest anti-programme party, Syriza, secured 71 seats, [...] A lot of news is coming out of Europe this week: from the sounds of it, we will have some potentially positive movement in the eurozone bailout. George Soros has lashed out against Brussels rescue plan, saying he gives the new “deal” to solve the debt crisis will only last between “one day and three months.” He has Attacked The Lack Of Leadership, especially toward Greece’s issues. Wealth Wire has discussed Soros’Disapproval [...] kingworldnews.com With gold around $1,600 and silver trading near $30, today King World News interviewed Sean Boyd, CEO of $11 billion Agnico Eagle. When asked what he sees happening with the global crisis, the price of gold and the mining sector, Boyd responded, “We sort of sit back here in the business of producing gold, looking out at the financial landscape and we continue to tell ourselves that nothing [...] The Obama administration has been fiercely lobbying European governments and central banks to shut up and do something. No more disagreements in public, Timothy Geithner told them in Poland. No more disputes over fundamental issues. To heck with democratic problem resolution. The world is collapsing, and it’s time to act boldly and decisively. Hank Paulson’s extortion racket is back. This time, it isn’t Congress and [...] by Charles Hugh Smith from Of Two Minds The “Perception Management” Economy Rather than actually address the fundamental issues at the heart of the “jobless recession,” the Status Quo has engaged in a massive campaign of perception management, a.k.a. propaganda. A number of euphemisms are used for the concerted Status Quo effort to convince the public to maintain their belief in faltering institutions and a debt-based consumerist economy. [...] “As a firm we have covered all of our hedges on silver and we have started to accumulate physical silver. Let me add that this is the swiftest 30+% decline in this bull market. If you are a cash buyer of physical silver then you should now be accumulating silver. There is always a danger in catching a falling knife, but you have to remember [...] |
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Wiedemer: US Treasurys Now a ‘Toxic Asset,’ Debt Deal Won’t Fix It
Wiedemer: US Treasurys Now a ‘Toxic Asset,’ Debt Deal Won’t Fix It
Saturday, 30 Jul 2011 04:13 PM
By Forrest Jones and Ashley Martella
The United States may lose its AAA rating by defaulting on its debt and it will be very hard to get that rating back, says Robert Wiedemer, financial commentator and best-selling author of “Aftershock.”
Lawmakers are at an impasse on agreeing on terms to lift the [...]