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By Michael What is going to happen when the greatest economic bubble in the history of the world pops? Themainstream media never talks about that. They are much too busy covering the latest dogfights in Washington and what Justin Bieber has been up to. And most Americans seem to think that if the Dow keeps setting new all-time highs that everything must be okay. Sadly, that is not the case at all. [...] Today came news that Americans are feeling better about the economy, with a healthy uptick in one popular consumer confidence index. But there’s also new evidence that consumers are worried about how Washington is handling the nation’s debt. [READ: Economic Confidence Still at 2009 Levels] The Conference Board today reported that its consumer confidence index ticked up 6.2 points, to 68.1 in April (on a scale on which 1985 = 100). That’s a [...] Japanese Government Bonds Halted Limit Down; Yields Spike To 10 Week High; Worst Day In 5 Years It appears things are getting a little out of control around the world. Between the collapse in JGB implied volatilities in recent days, today’s melt-down in JPY (+255 pips from pre-open US levels), the last few days melt-up in the Nikkei (+6.8% in 3 days), and now the quadrillion Yen Japanese government bond market is halted [...] Public Banking Institute is having our 2013 conference in San Rafael (Northern California) on June 2, 3, 4 to publicly present solutions in banking and money worth tens of trillions of dollars to Americans. You literally have nothing more valuable to attend to (registration info here). Among public banking’s available benefits: State budget deficits end as state-owned banks create at-cost credit. The US has only one state with increasing budget surpluses: the only one with a state-owned bank. by Michael If the American people truly understood how the Federal Reserve system works and what it has done to us, they would be screaming for it to be abolished immediately. It is a system that was designed by international bankers for the benefit of international bankers, and it is systematically impoverishing the American people. The Federal Reserve system is the primary reason why our currency has declined in value by well [...] There’s no question about it, the middle class must pay more taxes to control the national debt, says Doug Elmendorf, director of the Congressional Budget Office (CBO). “Putting the debt on a sustainable path will ultimately require increases in taxes or cuts in government benefits or services for people who consider themselves to be in the middle class,” Elmendorf said in a speech at Harvard University. The CBO director, CNNMoney notes, had [...] by Michael Did you know that the greatest period of economic growth in American history was during a time when there was absolutely no federal income tax? Between the end of the Civil War and 1913, there was an explosion of economic activity in the United States unlike anything ever seen before or since. Unfortunately, a federal income tax was instituted in 1913, and this year it turned 100 years old. But [...] OPEN LETTER TO U.S. SENATORS THE FEDERAL RESERVE HEIST Mr. Ben Bernanke told the Senate Banking committee that the government must take action (deficit spending) to prevent an economic collapse. Did he tell Congress that every dollar of such spending would be profit for the Fed that would be hidden by the FRBNY in apparent violation of the law ?? A popular concept is that the government will “borrow” from the Federal Reserve. [...] More Than Dozen States Push For Gold as Legal Tender, Bernanke Backlash Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fueling a push in more than a dozen states to recognize gold and silver coins as legal tender. Lawmakers in Arizona are poised to follow Utah, which authorized bullion for currency in 2011. Similar bills are advancing in Kansas, South Carolina and other states. The measures backed by the limited-government Tea Partymovement are mostly symbolic — [...] The day of reckoning for global total debt – total credit market debt up from $28 trillion in 2001 to $53 trillion in 2012. US consumer debt went up in last few months but largely because of giant amounts of student loan debt taken on. You have to really question what passes for financial analysis these days. One financial show was discussing the recent increase in consumer debt as something positive. [...] Odious debt, is the national debt incurred by a regime for purposes that do not serve the best interests of the nation or it’s people. Such debts are thus, considered to be personal debts of the regime that incurred them and not debts of the state or it’s people. Gross debt at the end of 2012 stood at £1.387trillion, up 7% on 2011
Britain’s debt mountain has topped £1.387trillion, and is now the equivalent of 90 per cent of the entire economy. The grim milestone was passed at the end [...]
Long term: All entitlements will be cut off or made worthless through currency debasement The question of disappearing entitlements isn’t just an EBT card issue, by the way. The coming financial collapse of the U.S. government will end all entitlements, including social security, Medicare and federal workers’ retirement pension payments. That’s the real kicker in all this: In a society where 50% or so are now largely dependent on the federal government for their [...] Economists See No Crisis With U.S. Debt as Economy Gains “Three years after a government spending surge in response to the recession drove the U.S. past that red line — the nation’s $16.7 trillion total debt is now 106 percent of the $15.8 trillion economy” =======================================================
Federal Debt: Total Public Debt as Percent of Gross Domestic Product (GFDEGDQ188S) Federal Debt: Total Public Debt as Percent of Gross Domestic Product (GFDEGDQ188S) 2012:Q4: 103.66867 Percent of GDP Last 5 [...] by Chriss Street, Testosterone Pit.com: When the dreaded sequester took effect on March 1st, the only immediate economic pain federal workers suffered was canceling White House tours eliminated Secret Service over-time. But over the last two weeks, the dirty little secrets about expected higher taxing and higher spending are pouring out of Washington D.C. As the Congress finishes work on the stop-gap budget to avoid a March 27th shut down and fund the government [...] World from Berlin – ‘Last Euro-Crisis Taboo Broken’ “The unique exceptions have begun piling up in Europe. That will do little to strengthen foreign investors’ faith in Europe.” The business daily Handelsblatt writes:”The currency union has committed a breach of trust. It weighs especially heavy because the euro states have already secretly been rehabilitating their economies at the expense of depositors. Low interest rate policies help bring down the national debt, but at the [...] by Michael During fiscal year 2012, $359,796,008,919.49 that had been forcibly extracted from American taxpayers was transferred into other hands. Most of it ended up in the pockets of the global elite. So what did the American people get in return for that 359 billion dollars? Nothing at all. No roads were built, no schools were constructed, no teachers were paid and none of it went to national defense. It was [...]
The estimated population of the United States is 314,551,288 ========================= Treasury Direct link The Daily History of the Debt Results Historical returns from 03/01/2013 through 03/06/2013 The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed. ( Debt Held by the Public vs. Intragovernmental Holdings )
Date By Michael Reckless money printing by Federal Reserve Chairman Ben Bernanke has pumped up the Dow to a brand new all-time high. So what comes next? Will the Dow go even higher? Hopefully it will. In fact, it would be great if the Dow was able to hit 15,000 before it finally came crashing down. That would give all of us some more time to prepare for the nightmarish economic crisis that [...] by Michael Is the financial collapse of Italy going to be the final blow that breaks the back of Europe financially? Most people don’t realize this, but Italy is actually the third largest debtor in the entire world after the United States and Japan. Italy currently has a debt to GDP ratio of more than 120 percent, and Italy has a bigger national debt than anyone else in Europe does. That is why [...]
Fed Officials Reject Warning Losses May Weaken FOMC Clout
National Debt Passes $16.6 Trillion Treasury Direct link The Daily History of the Debt Results Historical returns from 02/01/2013 through 02/21/2013 The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed. ( Debt Held by the Public vs. Intragovernmental Holdings )
Date How Fed’s QE exit could be PR nightmare
National Debt Of $16.54 Trillion (Feb. Chart) Treasure Direct link The Daily History of the Debt Results Historical returns from 02/01/2013 through 03/15/2013 The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed. ( Debt Held by the Public vs. Intragovernmental Holdings )
Date Center-left Washington is arguing with ever-greater ferocity that center-right Washington is mistakenly obsessed with deficit reduction. Part of the argument is familiar:
1. Low Treasury interest rates show markets unconcerned about the $16 trillion national debt. 2. As the economy continues to heal, annual deficits will shrink substantially. 3. To the extent budget shortfalls are a problem, they are a long-term one driven by health care spending. Read more: http://www.aei-ideas.org/2013/02/96036/#ixzz2L6J15poq National Debt Passes $16.5 Trillion Treasury Direct link ========================= The Daily History of the Debt Results Historical returns from 02/01/2013 through 02/13/2013 The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed. ( Debt Held by the Public vs. Intragovernmental Holdings )
Date 02/01/2013 02/04/2013 02/05/2013 02/06/2013 02/07/2013 02/08/2013 02/11/2013 02/12/2013 02/13/2013
Low inflation may allow longer QE: Fed’s [...] I say official because as we know the government can’t provide anything that is official, and we all now are dependent on intelligent people who can do 4th grade level math to actually figure out what the real deficits are. 222 trillion dollars in unfunded liabilities. over a million dollars per working tax payer. This number doesn’t take into account the derivatives bubble “How 9 Banks Are Exposed To $200 Trillion Worth Of Derivatives” http://articles.businessinsider.com/2012-04-24/wall_street/31390709_1_pension-funds-derivative-exposure-bailout so let’s [...] By Michael Does a shadowy group of obscenely wealthy elitists control the world? Do men and women with enormous amounts of money really run the world from behind the scenes? The answer might surprise you. Most of us tend to think of money as a convenient way to conduct transactions, but the truth is that it also represents power and control. And today we live in a neo-fuedalist system in which the super [...] |
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