World spending on defense for the first time in 15 years fell by $1.75 trillion in 2012, which marked a 0.5-percent reduction in comparison with 2011, according to the Stockholm International Peace Research Institute (SIPRI). The share of the U.S. has fallen below the level of 40 percent for the first time since the collapse of the Soviet Union. Russia and China entered the top three of the countries that [...]
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by Michael Why is the global economy in so much trouble? How can so many people be so absolutely certain that the world financial system is going to crash? Well, the truth is that when you take a look at the cold, hard numbers it is not difficult to see why the global financial pyramid scheme is destined to fail. In the United States today, there is approximately 56 trillion dollars [...] Ron Paul: Trade War & Economic Collapse Coming Ron Paul was on Bloomberg’s Lunch Money discussing the developing currency wars. Paul states that the currency wars have been ongoing for decades, but they are now gearing up, but that government’s always compete to devalue their fiat currencies. Paul informs the Bloomberg host that the loss in purchasing power from currency devaluation in a currency war devastates the middle class, and cancels out [...] Japan Refuses To Exit Triple-Dip Recession As Q4 GDP Disappoints Expectations Of A Positive Print Despite so much pent up hope that Japan would post a 0.4% annualized growth (and a 0.1% rise Q/Q) in its Q4 GDP, finally exiting that pesky triple dip recession it has been stuck in for the past five years, moments ago the Cabinet Office reported that contrary to optimistic expectations, in the 4th quarter the [...] CONSUMER CONFIDENCE COLLAPSE UPDATE: The Conference Board’s consumer confidence survey for the month of January is out. The headline number fell to 58.6, well below expectations of a drop to 64.0. Last month’s number was revised higher to 66.7 from 65.1, meaning the drop is even steeper than it appears at first blush. MASSIVE WITHDRAWN FROM 25 LARGEST US BANKS SD contributor AGXIIK warned readers months ago about the FDIC’s expanded deposit insurance which was set to expire [...] Bank Of America Sees First Signs That The Rally Could Reverse The S&P 500 has been grinding steadily higher in 2013 as no real bearish catalyst has yet given investors reason enough to sell stocks. For weeks, while Wall Street strategists have mused that this may be the beginning of a “Great Rotation” out of bonds and into equities, they’ve also warned that a correction is near. … The chart below shows that historically, [...]  by Greg Hunter, USAWatchdog: Boston University Economics Professor Laurence Kotlikoff is worried about America’s dire financial situation. Dr. Kotlikoff says, “The situation is getting worse and worse and worse. We are running a massive six decade Ponzi scheme, and it’s coming to a real threatening point.”
Great discussion – Global derivatives are 5 times global GDP – Chris Whalen & Barry Ritholtz – ‘The Derivatives Timebomb’ According to the Office of the Comptroller of [...] Economy of the United States The economy of the United States is the world’s largest national economy and the world’s second largest overall economy, the GDP of the EU being approximately $2 trillion larger. Its nominal GDP was estimated to be $15.8 trillion in 2012 [1], approximately a quarter of nominal global GDP.[2] Its GDP at purchasing power parity is the largest in the world, approximately a fifth of global GDP at purchasing power parity.[2] The U.S. is [...]
Watching Your Money Disappear Can this go on forever? No, it certainly cannot. This will end, it will end badly and probably soon. Why soon? – Because around the world we have pretty much reached the endgame: Policy rates everywhere are now at zero and central banks around the world are using their own balance sheets to prop up banks and select asset markets. Again, the Bank of England is among the [...] By Michael How can the mainstream media claim that the U.S. economy is “improving” when it is painfully obvious to anyone with a brain that the middle class is being absolutely eviscerated? According to numbers that were just released, the number of Americans on food stamps rose by more than 600,000 in a single month to an all-time record high of 47.7 million. Youth unemployment in the U.S. is at a [...] by Phoenix Capital Research
This is going to be a very special holiday season. The reason? It’s the last hurrah before things get very very ugly. Just off the cuff, you need to know that: 1) China, the EU, and the US (comprising over 50% of Global GDP) are in recession already. The EU has already announced this. Look for the formal announcements concerning the US and China to hit the airwaves next [...] One week ago, when we reported the news that the Bundesbank had secretly pulled two thirds of its gold from London we said the following: … Germany has done nothing wrong! It simply demanded a reclamation of what is rightfully Germany’s to demand.
And here is the crux of the issue: in a globalized system, in which every sovereign is increasingly subjugated to the credit-creating power of the globalized “whole”, one must leave all thoughts [...] by Phoenix Capital Research
Looking around the economic and financial world today, I see countless negative developments and virtually no positive developments to speak of. Just off the cuff, I note that: China is entering a hard landing if not an outright economic collapse. Markus Stanley: Derivative bets not a zero sum game, have far reaching real world consequences. More than 100 million people will die and global economic growth will be cut by 3.2 percent of gross domestic product (GDP) by 2030 if the world fails to tackle climate change, a report commissioned by 20 governments has claimed. As global average temperatures rise due to greenhouse gas emissions, the effects on the planet, such as melting ice caps, extreme weather, drought and rising sea levels, will threaten populations and [...] Peter Byrne of The Energy Report (8/28/12)
The U.S. is no longer the safest place in the world to invest, says Don Coxe, a strategic advisor to the BMO Financial Group. While U.S.-based companies are forced to wade through red tape and legal challenges, relatively lax regulation in emerging economies created stiff competition. In this exclusive interview with The Energy Report, Coxe explains how investors should position themselves as China [...] Morgan Stanley’s Joachim Fels and the rest of the The Global Macro Analyst team have cut their global growth forecast in a note dramatically titled Into The Twilight Zone.
The gist is that everyone in the world is struggling right now. Emerging markets, which used to keep growing solidly during times of slowdown, are sputtering. And developed markets keep shooting themselves in the foot. The global economy has sunk deeper into the twilight [...] Moderate Strengthening of Global Economic Indicators Expected in Late 2012 and 2013; Euro Will Survive NEW YORK and LONDON, Aug. 15, 2012 /PRNewswire/ — BNY Mellon Chief Economist Richard Hoey said the worst of the global slowdown is occurring right now and he continues to expect a global growth recession in 2012 with global GDP to grow at three percent. Hoey also expects a moderate strengthening of global economic indicators in [...] Central banks hold 30% of global GDP “Bank for International Settlements reports that world’s central banks are holding £11tn after purchasing government bonds This is double the level of ten years ago, according to the latest annual report from the Bank for International Settlements. The [...] Take a moment to consider this number: $16,084,425,792,391 At the last count, this is the level of the U.S. national debt. And if that number scares you… it should. The fiscal and debt situation of the United States today is nothing less than Greece on steroids – with an added dose of political hallucinogens inducing insane denial. It’s the same insanity that sent international markets up this week on the news that a [...] One of the biggest risks to the world’s financial health is the $1.2 quadrillion derivatives market. It’s complex, it’s unregulated, and it ought to be of concern to world leaders that its notional value is 20 times the size of the world economy. But traders rule the roost — and as much as risk managers and regulators might want to limit that risk, they lack the power or knowledge to [...] If Raoul Pal was some doomsday spouting windbag, writing in all caps, arbitrarily pasting together disparate charts to create 200 page slideshows, it would be easy to ignore him. He isn’t. The founder of Global Macro Investor “previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund [...] Also Sprach Analyst
Everyone has their own opinion on what will happen to the Chinese economy if Europe blows up. That ranges from a totally delusional “nothing happen” to, well…
Given the consensus remains hugely delusional and bullish, this is probably the most bearish I have come across. From the China International Capital Corp (CICC), they believe that if Greece exits the Euro, China’s economy growth would be cut down to just 6.4% [...] AMIR EFRATI A new company backed by two Google Inc. billionaires, film director James Cameron and other space exploration proponents is aiming high in the hunt for natural resources—with mining asteroids the possible target. The venture, called Planetary Resources Inc., revealed little in a press release this week except to say that it would “overlay two critical sectors—space exploration and natural resources—to add trillions of dollars to the global GDP” [...] SAN FRANCISCO (Reuters) - Google executive chairman Eric Schmidt and billionaire co-founder Larry Page have teamed up with “Avatar” director James Cameron and other investors to back an ambitious space exploration and natural resources venture, details of which will be unveiled next week. The fledgling company, called Planetary Resources, will be unveiled at a Tuesday news conference at the Museum of Flight in Seattle, according to a press release issued this week. Aside from naming some of the company’s high-profile backers, the press [...] by mybudget360 The biggest market in the world is the European Union and debt problems are still rippling through the global markets. It is apparent with the financial crisis that the global markets are tied together by large banks and interconnected trade. A problem in the largest market should be unsettling and the unemployment rate in the European Union is now at a 15 year high. The global debt problem was never really solved but [...] mybudget360.com The biggest market in the world is the European Union and debt problems are Still Rippling Through The Global Markets. It is apparent with the financial crisis that the global markets are tied together by large banks and interconnected trade. A problem in the largest market should be unsettling and the unemployment rate in the European Union is now at a 15 year high. The Global Debt Problem was never really solved but [...] A Look At This Week’s Show: About the Guest: Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph. He has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, [...]
A Look At This Week’s Show: About the Guest: Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph. He has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, [...] by ZH China is best known as the world’s export driver as the hopes of every exporting nation in the world are pinned on the eventual transition of the economy to domestic consumption and hence greater imports. While China has contributed most to Global GDP growth in the past few years, some argue that this growth is not as ‘helpful’ as US growth to other countries – since China does not [...] kingworldnews.com Today Michael Pento told King World News that Europe’s economy is falling off a cliff, along with other parts of the world, as inflation continues to take a toll on global GDP. Pento, who founded Pento Portfolio Strategies, also noted that one of the largest corporations in the world is seeing a global slowdown. This is what Pento had to say about what is taking place: “Back in early 2011, I [...] |
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