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by Michael Did you know that there are thousands upon thousands of homeless people that are living underground beneath the streets of major U.S. cities? It is happening in Las Vegas, it is happening in New York City and it is even happening in Kansas City. As the economy crumbles, poverty in the United States isabsolutely exploding and so is homelessness. In addition to the thousands of “tunnel people” living under the streets [...] by Phoenix Capital Research
The big news out of Europe is whether or not Cyprus will be a template for future bailouts.
Having seen that issues like personal property, rule of law, and democracy got thrown out of the window in Cyprus as soon as things got hairy, investors and depositors throughout Europe are panicked as to whether they will be targeted next when the next European Domino starts to fall.
EU politicians [...] by Phoenix Capital Research
As noted in numerous articles, the entire European banking and corporate system is over-burdened with debt. Jagadeesh Gokhale of the Cato Institute puts the situation as the following, “The average EU country would need to have more than four times (434 percent) its current annual gross domestic product (GDP) in the bank today, earning interest at the government’s borrowing rate, in order to fund current policies indefinitely.” Put another [...] by Phoenix Capital Research
The EU continues to flounder around as Cyprus, a country whose GDP accounts for just 0.2% of the Europe’s economy, has proven the truth behind all of the “solutions” thrown around by the ECB and EU politicians: that they really don’t have a clue how to fix the problem plaguing Europe. Why is this? Because at the end of the day, there is really only one solution to this [...] Protesters enraged over the fatal shooting of a teenager by police poured into Brooklyn streets for a third straight night Wednesday, pitching bricks, bottles and garbage in furious clashes with cops. At least 46 demonstrators were arrested along Church Ave. in East Flatbush. Police struggled to control a hostile crowd that broke away from a planned peaceful vigil for Kimani (Kiki) Gray, 16, killed by police on Saturday night. Read more: http://www.nydailynews.com/new-york/7-nypd-bullets-killed-teen-kimani-gray-article-1.1287452#ixzz2NWjviPwa
46 Arrested [...] globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Thursday, January 31, 2013 6:01 PM A 40% funding cut to bus services in Naples, Italy had predictable results: Bus Service Grinds to Halt as Tanks Run Dry Bus service in the southern Italian city of Naples has ground to a halt after the city transport company ran out of money for fuel. Valeria Peti, of the ANM transport company, says only 30 of the usual 300 buses left [...] Canadians use far too much energy and water, and they produce more garbage per capita than any other country on earth, a report from an influential think-tank says. Canada fared dismally in terms of the amount of waste we produce. In 2009 (the data year on which the study was based), Canada produced 777 kilograms of garbage per citizen. Across all 17 countries studied, the average was only 578 kg produced. The [...] from FT: The environmental (and social) costs of unregulated development are now increasingly visible. Hurricane Sandy has brought climate change back into public debate. At a more everyday level, hundreds of millions of people struggle with the consequences of rampant air and water pollution, the depletion of groundwater aquifers, the decimation of forests and the decline of biodiversity. In India and China, in Nigeria and Mexico, villagers battle townsfolk who dump [...]
In this episode, Max Keiser and Stacy Herbert look at the shootout at the OK Bond Corral as sovereigns battle Wall Street — which in turn battles state pension funds — for the same piece of infinitely re-hypothecated garbage collateral. In the second half, Max Keiser talks to hedge fund manager and ‘Planet Ponzi’ author Mitch Feierstein about the bond market, central bank-induced deflation and the London property market. The following is an excerpt from a recent issue of Private Wealth Advisory. In it I reveal that Germany has in fact already implemented a working group to assess the cost of Greece leaving the EU. Moreover, numerous multinationals are now preparing for this outcome as well. If you’ve looking for investment ideas on how to profit from this collapse (the gains will be even bigger than those produced during the 2008 Crash) Private [...] John Galt They don’t call it Black Friday Madness for nothing. Once again, as in years past, America will go wild and demonstrate the worst of humanity; including fights, near riots, knocking down children, and full-on degeneracy – all in search of America’s Holy Grail: a good deal. And it has arrived earlier than ever before, which ironically has led to protests within corporate monolith Wal-Mart. Wal-Mart spokesperson, [...] Maybe someone can help us…. garbage lays on the street, politicians call on the military to take over a public utility company, curfews…. You know it’s coming, and our kids will be the ones to pay the price for it. I stood in line Tuesday and listened to several people talk about why they were voting for one candidate or another. 1. Obama – Gotta vote for my boy (yes a black woman) 2. My friend told me to vote this way. 3. My parents told me to vote this way. 4. The media says Romney will overturn [...] by Phoenix Capital Research
As noted earlier in yesterday’s article, the entire European banking and corporate system is over-burdened with debt. Germany sports a real Debt to GDP of over 200% (this from the former head of the Bundesbank), and the rest of Europe is in even worse shape. Indeed, Jagadeesh Gokhale of the Cato Institute puts the situation as the following, “The average EU country would need to have more than four [...] by Michael Federal Reserve Chairman Ben Bernanke is determined to push mortgage rates to record low levels and he is encouraging the banks that the Fed regulates to make home loans more freely. Wait a second – isn’t that exactly what caused the last housing bubble? After 9/11, the Federal Reserve slashed interest rates and this caused mortgage rates to steadily fall. Financial institutions were urged to help “expand home ownership” [...] by Michael The mainstream media is hailing QE3 as a great victory for the U.S. economy. On nearly every news broadcast, the “talking heads” are declaring that Ben Bernanke’s decision to pump 40 billion dollars a month into our financial system is definitely going to help solve our economic problems. The money for QE3 is being created out of thin air and this round of quantitative easing is going to be [...] McDonough, a Bloomberg BRIEF economist, tweeted out an update on the indicator. And frankly, it stinks. Waste carloads are way down. businessinsider “While there are many reasons to be bearish on stocks, there is only one good reason to be bullish. The only bullish hope is that the Bernanke Put again will save the stock market” is the salient reality that TrimTabs’ CEO Charles Biderman exclaims in his latest clip. Shifting to 100% bearish this weekend for his institutional clients, he believes that even if the Fed QuEases again, the equity pop [...] SAN BERNARDINO (CBS/AP) – The consequences of the city’s fiscal crisis took a trashy turn during a hearing Monday night when San Bernardino officials noted garbage pick-up was among the obligations they might not be able to afford after turning their government into a cash-only operation. The City Council voted Monday to delay the vote until Wednesday to avoid mediation and head straight to federal bankruptcy. The council previously had voted to file [...] Ford and others, such as MSNBC news anchor Melissa Harris-Perry, say the media should not report news if it makes black people look bad. But most racial crimes and violence from black mobs in the New York area are usually not reported – not by the mainstream media anyway. Witnesses and others who know often find a way to drop a dime, or a video or Internet posting. Just a few days before [...] From The Gold Report: Taking part in the Cambridge World Resource Investment Conference, geologist and minerals maven Brent Cook, who also serves as Exploration Insights president, CEO, publisher and author, said he found more investors there looking for reasons to sell than to buy. In this exclusive interview with The Gold Report, he suggests that those who postpone buying decisions for too long risk missing the boat on some real “gems.” Finding gems in [...] by Phoenix Capital Research
Europe will collapse before the end of the year and very likely before the end of the summer. When this Crisis hits it will be worse than 2008. And the world Central Banks will not be able to control the damage. What makes this time different? Several items: 1) The Crisis coming from Europe will be far, far larger in scope than anything the Fed has dealt with before. 2) The Fed [...] by Phoenix Capital Research
I’ve warned time and again that the EU would collapse in May-June. That collapse is here right on schedule. And NO ONE will be able to stop it. Here’s why: 1) According to the IMF, European banks as a whole are leveraged at 26 to 1 (this data point is based on reported loans… the real leverage levels are much, much higher.) These are a Lehman Brothers leverage levels. 2) The European Banking [...]
Seventy-year-old Eletharias cannot afford to go the supermarket any more, so for the past few months he has started rummaging for food in dustbins. He goes out in Athens at night so that no one sees. When Sky News met him, he was collecting onions from some wheelie bins. “Since my pension was cut, I can’t buy food so I look through the garbage,” he said, “I can only pray that things [...] When they published their revealing book last August about the nation’s fight against terrorism, the authors, two New York Times national security reporters, immediately felt heat from the Pentagon for dishing too much operational info about the killing of Osama bin Laden. “I was stopped by a very senior officer in the special operations community who basically wanted to rip my lungs out,” said Thom Shanker, who co-authored “Counterstrike: The Untold [...] Six Months Left…Can They Do It? I have to hand it to the Central Planners. They are good. Really, really good. Of course, they are battling a crippled opponent considering so much of America consists of lobotomized sheeple, but nevertheless to be able to steal so much from many people with such blatant and simplistic methods and not be widely discovered is an act of devious brilliance. The reason I say [...] By Ian Johnston, msnbc.com The amount of plastic trash in the “Great Pacific Garbage Patch” has increased 100-fold during the past 40 years, causing “profound” changes to the marine environment, according to a new study. Scientists from Scripps Institution of Oceanography in San Diego found that insects called “sea skaters” or “water striders” were using the trash as a place to lay their eggs in greater numbers than before. The scientists also pointed to a [...] The pensioner, named locally as Dimitris Christoulas, shot himself with a handgun a few hundred yards from the Greek parliament, which has been the focus of numerous violent protests against tough austerity measures in recent months. Witnesses report he claimed to be concerned about leaving his children in debt before he took his own life. Pensions in Greece have been slashed by up to a quarter as part of harsh austerity measures designed to [...] By Graham Summers Over the last two years, I’ve been caught into believing a Crash was coming several times. In some ways I was right: we got sizable corrections of 15+%. But we never got the REAL CRASH I thought we would because the Fed stepped in. So what makes this time different? Several items: 1) The Crisis coming from Europe will be far, far larger in scope than anything the Fed has dealt with [...] “Consumer Confidence Rises to 4-Year High,” blared the Bloomberg headline in a font that really was that big. That’s just so wrong. So wrong. I mean, should we really be jumping up and down, shouting, “Hip Hip HOORAY! Hip Hip HOORAY!” Uh… no. Let’s look at the first key point that Bloomberg made. Household confidence improved last week to a four-year high as more Americans said the economy was improving [...] |
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