Lets see how bright American fiscal policy is:
Payoff toxic mortgage loans at full price, then allow speculators/ultra rich to take highly leverage and force-up the farmland prices.
Result is citizens pay higher food prices. Go into stores and see how packages and jars of food keep getting smaller. For example yogurt is now sold in “spoonful” portions. Restaurants serve cheap carbohydrates because protein has become too expensive. Just try to by [...]
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Perhaps the most interesting part is where he talks about specifics that are holding the economy back still. “Recently, the housing market has shown some clear signs of improvement, as home sales, prices, and construction have all moved up since early this year. These developments are encouraging, and it seems likely that, on net, residential investment will be a source of economic growth and new jobs over the next couple of years. However, [...] by Phoenix Capital Research My prediction regarding the breakup of the EU was obviously way early. However, the fact remains that the EU will break up in time. And it will likely be Spain that brings this about. The reasons? Among other things: Spain’s private Debt to GDP is above 300%. by Phoenix Capital Research My prediction regarding the breakup of the EU was obviously way early.
However, the fact remains that the EU will break up in time. And it will likely be Spain that brings this about.
The reasons? Among other things:
Spain’s private Debt to GDP is above 300%. By CHRISTINA REXRODE NEW YORK (AP) — JPMorgan Chase, the country’s biggest bank, reported a record quarterly profit Friday, helped by a surge inmortgage refinancing. CEO Jamie Dimon said he believed thehousing market ”has turned a corner.” The bank made $5.3 billion from July through September, up 36 percent from the same period a year ago. It worked out to $1.40 per share, blowing away the $1.21 predicted by analysts polled by FactSet, a provider of [...] Pastor Lindsey Williams was on Goldseek Radio on 18 Sept 2012 on give his insight about QE3 or QE to infinity as it was called by some , the FED is now legally the owner of all American mortgages including the mortgage of your house (if you have one ) yet nobody in American is protesting about this huge shift in capital and ownership , The FED can now reposes your house [...] Infowars.com Mike Adams welcomes guest John B. Wells. Mr. Wells is a frequent guest on the Alex Jones Show and a longtime professional announcer who has hosted Saturday evenings on Coast-to-Coast AM.
Russia Prepared for Possible Economic Meltdown: The Russian economy is prepared for a possible economic meltdown as a result of the slowing of global growth and the escalating eurozone debt crisis, President Vladimir Putin said on Thursday. At a meeting [...] From Evan Soltas: The case for housing bullishness grew significantly stronger today after the Fed released the latest numbers from the Senior Loan Officer Survey… The guys giving out the loans themselves, in effect, had two things to say to the Fed’s surveyors: They’re done tightening standards on mortgage loans, both to prime and subprime borrowers, and they’re seeing more people looking to take out mortgages. That combination – a stabilization of mortgage-lending [...] by WashingtonsBlog Preface: Not all banks are criminal enterprises. The wrongdoing of a particular bank cannot be attributed to other banks without proof. But – as documented below – many of the biggest banks have engaged in unimaginably bad behavior. You Wont Believe What They’ve Done … Here are just some of the improprieties by big banks: Funding the Nazis Laundering money for terrorists Financing illegal arms deals, and funding the manufacture of cluster bombs (and see this and this) and other arms which [...] by Washingtonsblog Libor Manipulation Is Only One of MANY Types of Fraud Committed by the Big Banks The Libor Scandal seems to be waking people up to manipulation and fraud by the big banks. There are many other types of fraud they’ve engaged in as well … Here is a partial list: Committing massive and pervasive fraud both when they initiated mortgage loans and when they foreclosed on them (and see this) Pledging the same mortgage multiple times to different buyers. See this, this, this, this and this Cheating homeowners by gaming laws meant to protect people from [...] by WashingtonsBlog Libor Manipulation Is Only One of MANY Types of Fraud Committed by the Big Banks The Libor scandal seems to be waking people up to manipulation and fraud by the big banks. There are many other types of fraud they’ve engaged in as well … Here is a partial list: Engaging in mafia-style big-rigging fraud against local governments. See this, this and this Laundering money for drug cartels. See this, this and this Illegally funding arms sales Cooking their books Engaging in unlawful “frontrunning” to manipulate markets. See this, this, this, this, this and this Engaging in unlawful “Wash [...] Tax cheats were given $1.4 billion in government-backed mortgage loans under President Obama’s economic stimulus, and the government doled out at least an additional $27 million in tax credits to delinquents who took the first-time-homebuyer tax break, according to a government audit released Tuesday. Under government rules, delinquent taxpayers are supposed to be ineligible for the mortgage insurance program unless they have reached a repayment agreement with the Internal Revenue Service. But [...] * Italian bond returns euro zone’s highest in 2012 * Contagion fears from Spain spark profit-taking * Foreign investors mainly behind sell-off By Marius Zaharia LONDON, March 23 (Reuters) – Investors are making handsome profits by selling Italian government bonds, cashing in on a stellar rally because they fear a fresh eruption of the euro zone debt crisis. Hedge funds, insurers and pension managers flocked into the bond market earlier this year to buy cheap, [...] Business Insider While lots of investors have turned incredibly bullish on the stock market lately, economists have continued to issue ominous reports about the fact that Europe’s crisis is not even close to ending. We’ve been arguing much the same thing for a long time now, and a handful of developments today—plus some commentary from one of our favorite economists, Citi’s Willem Buiter—only give us more faith that the time is nigh for a reversal. First, Buiter remarked [...] I found an article about the German reform from Reichsmark to D-mark. So now came the D-mark. But what happened with saved assets, mortgage loans, other debts or assets? Immediately an escape into asset values set in when the first rumours of a future currency reform began to reach population in April 1948. But since no one knew much about it the reaction remained rather restrained. Only when the D-mark was [...] When you see the Republican party point to Fannie and Freddie as the cause of all our housing http://www.washingtonpost.com/reales…y.html?hpid=z3 By Mark Zandi, Published: January 24 There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. The two giant housing-finance institutions made [...] Yesterday I dropped by to see my personal banker at my small, highly rated, local bank. She’s the district manager now so I thought she would have a finger on the pulse of the local economy. “How are people doing”” I asked. “It depends,” she answered. “Some have their house paid off and no debt and they are doing okay, But some . . .” she frowned and looked at a loss for words. “But some [...] If 100% of the company’s borrowings with maturities of one year or less were to run-off, available cash and equivalents, securities available for sale (net of marks-to-market) and the company’s “capacity to withdraw collateralized funds from Fed and FHLB,” would leave Bank of America with $32.2 billion in excess liquidity. If 50% of Bank of America’s institutional deposits and jumbo CDs were drawn down, funding of trading assets and loans held-for-sale [...] The U.S. Treasury’s Office of Thrift Supervision noted last year (page 7): The FBI estimates that 80 percent of all mortgage fraud involves collaboration This confirms what one of the country’s top fraud experts has said for years: that it was fraud by the big banks – more than anything done by the little guy – which caused the financial crisis: William K. Black – professor of economics and law, and the [...] Fracking, Mortgages and Insurance - Homeowners who sign gas leases to permit hydraulic fracturing for shale gas in Maryland, New York, West Virginia, Pennsylvania and other states may be defaulting on their mortgages, risking loss of title insurance and homeowners’ insurance coverage, and preventing future buyers from obtaining title insurance or mortgage loans on affected property. These are the consequences described by attorney Elizabeth Radow in an article in the New [...] 1. PRIVATE LENDERS. The 1990′s Banks wanted to sell more risky mortgages, but Fannie/Freddie refused to back them. Without F/F backing, the banks couldn’t get rid of the loans by selling them to investors, so they came up with “Collateralized Debt Obligations” (CDOs) to trick investors into buying them. Here is an analysis from the Dallas Federal Bank: “Fannie Mae and Freddie Mac are the largest GSEs, with Ginnie Mae being [...] Federal Housing Authority could deny claims: analyst * Mortgage insurance agency under pressure from defaults * Wells Fargo, JPMorgan and Bank of America could be hurt * House prices could take “another leg down,” says Miller Oct 3 [...] Before we get to the story from the WSJ and The Street.com, a few BofA links from today: Conference call – CEO Moynihan calls BofA ‘much stronger’ than in 2007 Despite the wishes of Sheila Bair and Chris Whalen, I don’t see BAC being [...] “No worries, Warren–you’ve got preferred stock!” Image: Corey Nachman, Business Insider After watching its stock tank 50% this year while denying that it needed capital, Bank of America’s management has begun to acknowledge reality.The bank raised $5 billion by selling preferred stock and options to Warren Buffett–diluting common shareholders in the process. And now, as previously promised, it has sold half its stake in China Construction Bank for $8 [...] CNBC The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed by the government and another briefed on such interviews. The investigation began before Standard & Poor’s cut the United States’ AAA credit rating this month, but it is likely to [...] By NICK TIMIRAOS And ALAN ZIBEL The federal government is readying its first retreat from the mortgage market, with the size of loans eligible for government backing set to decline in October. As an emergency measure three years ago, Congress raised to as high as $729,750 the maximum loan amount that Fannie Mae, Freddie Mac and federal agencies could guarantee. That made it easier—and cheaper—for borrowers in pricey [...] Obama shared his grandmother’s personal financial advice with journalists Wednesday.
WASHINGTON (CNNMoney) — “Don’t spend all your money.” That piece of personal financial advice comes from the 44th President of the United States. President Obama took a brief break from weighty policy discussions to share the financial advice from his grandmother with Wednesday’s White House conference for Web-based personal finance journalists. The president said his grandmother, who worked her way [...] |
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Spain is Greece… Only Bigger and Worse
Swing by www.gainspainscapital.com for more market commentary, investment strategies, and several FREE reports devoted to help you navigate the coming economic and capital market changes safely.
As I’ve outlined in earlier articles, Spain will be the straw that breaks the EU’s back. The country’s private Debt to GDP is above 300%. Spanish banks are loaded with toxic debts courtesy of a housing bubble that makes the US’s look like a small bump in comparison. [...]