The current “bull market” doesn’t even qualify as cyclical in that it was engineered by the Federal Reserve. It is propped up by printing presses and the Presidents Working Committee, and that is all. If anything causes the markets faith in Bernanke to wane, the game is over. Worse yet, things are bad in so many different places that it will take a separate act of God (not Bernanke) to [...]
By Paul B. Farrell, MarketWatch
Are you happy? Is America happy? Yes? No? Maybe? The new 170-page United Nations World Happiness Report has the solution. But do nothing and it’ll just keep getting worse, as we’re headed to a point of no return.
Warning: The next generation of Americans is going to be an extremely unhappy bunch.
Why? Because economists use GDP to measure America’s happiness — and GDP is [...]
Obama has done it. He has brought America down. It only took him just over four years. The Republicans could have stopped him. They didn’t…
If you thought the crash of 2008 was bad, think again. The crash that is coming –I cannot put a date on it, but it is not far away now – will be orders of magnitude worse.
So, what should you do to protect yourself and your [...]
by Phoenix Capital Research
More signs of trouble.
We’ve been told countless times that Europe was “fixed.” The problem with this is that the market is beginning to realize this is not true.
Much of the European recovery counts on Germany. The ECB owns the printing presses… but without Germany’s support, the Euro is done for.
However Germans are only going to be supportive of the Euro up to a point. That point is [...]
Peter Schiff: The Real Fiscal Cliff Is Dollar Crisis! Buy Gold! Buy Silver! Own Real Things!!!
APRIL 10, 2013
Video: Gold Outlook
By Paul B. Farrell, MarketWatch
Yes, another dark “shocker” before the end of the year, an unexpected “black swan.” And sadly for Fed Chairman Ben Bernanke — who hopes his “I saved America from economic collapse” illusion stays intact till he leaves office — he’s not going to get a dream ending to his Fed career.
Why? The shocker will happen before his scheduled exit in January, damaging Bernanke’s egocentric [...]
By Paul B. Farrell, MarketWatch
History is accelerating, the American economy is slowing and Fed Chairman Ben Bernanke is the accelerant.
Seems like just yesterday his mentor Alan Greenspan admitted to Congress that he “found a flaw” in the “free market ideology” that drove America’s monetary policy for his tenure as Fed chairman. Yes, “flawed;” it took him and America to figure out that self-regulated free markets did “not work.”
By Paul B. Farrell, MarketWatch
Bill Gross predicting a “Credit Supernova.” Yes, that’s what the “Bond King” sees dead ahead. He knows, his firm has $2 trillion at risk of collapsing into the “Black Hole” coming after the Credit Supernova, when the Federal Reserve cheap money finally explodes in America’s face, brings down the economy, again.
Gross’s Credit Supernova metaphor is the explosive headline on his latest Pimco newsletter. So what’s a [...]
Gear up those printing presses. You might be thinking that some of the policy talk coming out today is from The Onion but no, the idea of a $1 trillion coin is being discussed. The Federal Reserve is already very willing to become a shadow bad bank and take on all the questionable assets from the latest bubble from member banks. As the middle class is crushed, our nation is becoming more polarized. You have a [...]
Sept 12, 2012
The financial collapse of the Eurozone may be upon us. This Wednesday, September 12, the Federal Constitutional Court of Germany must decide whether it is legal for Germany to participate in the financial bailouts of other nations in the Eurozone.
The court has been inundated with tens of thousands of petitions (not just petition signers, but tens of thousands of individual petitions) demanding the court say NO [...]
They have about $180 billion US short term securitities to go and then buy long term US bonds.
Probably just to turn around and sell those too.
Each time the Fed buys US bonds its firing up the printing presses to loan the US its own money. This only creates more debt in principle and interest.
But to who is the Fed trying to sell $180 billion too? If it’s to foriegn investors [...]
Key indicators are deteriorating on almost every front, raising concerns that the world’s third largest economy is running aground after two “Lost Decades”.
Japan’s debt has jumped by 61 percentage points of GDP since 2008, compared to eight points for the AAA bloc. Public debt is expected to reach 239pc of GDP this year, uncharted levels for a major economy in peace-time. `Net debt’ – subtracting Japan’s vast holdings of foreign [...]
Late last year Ben Bernanke and the Federal Reserve moved to ease tensions in the financial system with a new form of accommodative policy that has boosted stocks but not commodity prices. But according to one leading hedge fund manager, the rise in stocks is a temporary one that will be thwarted by the coming period known as “Taxmageddon.”
Bernanke proposed a new type of accommodative policy. Whereas most investors were [...]
by George Washington’s blog
Simultaneous Global Printing Is Failing Miserably
Mainstream Keynesian economists argue that the failure of the European austerity measures to pull Europe out of the doldrums proves that more stimulus is needed, and that austerity is poison at this stage.
Indeed, most mainstream economists pretend that debt doesn’t exist … or believe that debt for its own sake is good and necessary.
But Martin Weiss noted last month:
Four of the world’s largest central banks have gone absolutely berserk, running the [...]
On the heels of the S&P downgrade of Spanish debt, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. Leeb told KWN that not only is Spain in trouble, but Europe is literally ready to blow apart. Leeb also discussed gold and silver, but first, here is what Leeb had to say about the S&P downgrade of Spanish debt: “It’s really [...]
Nearly four years after the start of the global financial crisis, many are wondering why economic recovery is taking so long. Indeed, its sluggishness has confounded even the experts. According to the International Monetary Fund, the world economy should have grown by 4.4% in 2011, and should grow by 4.5% in 2012. In fact, the latest figures from the World Bank indicate that growth reached just 2.7% in 2011, and [...]
From Economic Policy Journal:
Joe Nelson makes this observation in the comments:
The LA Times is out with this story about rising student loan default rates.
The article is here.
I mention it because buried at the bottom is this rather telling anecdote about Bernanke’s…
Read full article…
WTF Did All That Printed Money Go?
Courtesy of Lee Adler of the Wall Street Examiner
Normally when we think of printing money, we are talking about the Fed buying Treasuries, or some other securities from the Primary Dealers. The PDs then take the cash and buy Treasuries from the government. The Fed’s asset base is thereby increased, and an offsetting liability, bank reserves on the Fed’s balance sheet, also increases. As long [...]
As Marc Faber recently stated, we have little to fear in the US stock markets. If we do enter a US recession then the Fed will begin pushing massive amounts of QE3 liquidity into the markets. Likewise, if the stock market drops to around 1100 on the S&P due to recession fears, the Fed will also start up the printing presses.
The American middle class may suffer terribly in this next [...]
Breaking News: Feds Falsely Censor Popular Blog For Over A Year, Deny All Due Process, Hide All Details…
from the copyright-as-censorship dept
by Mike Masnick
Imagine if the US government, with no notice or warning, raided a small but popular magazine’s offices over a Thanksgiving weekend, seized the company’s printing presses, and told the world that the magazine was a criminal enterprise with a giant banner on their building. Then imagine that it never arrested anyone, [...]
In the US when we say, “Do you take plastic?” we mean credit cards. Well, in Canada they’ve started using plastic cash! Polymer if you want to be technical. The $100 bill has two windows you can see through! Have any Canadian members seen this yet? I hope they keep the old printing presses for paper. Otherwise shortages from peak oil could lead to literal shortages in cash! FACE
More info http://www.bankofcanada.ca/banknotes
If I was a counterfeiter I’d just switch [...]
ECB President Mario Draghi cuts the euro’s last lifeline … Anyone thinking that the arrival of Mario Draghi as president of the European Central Bank might herald a change in approach to the eurozone debt crisis would have been sadly disappointed by his first public appearance in the new role on Thursday. True enough, he did cut interest rates, but this was already part of a pre-written script and can [...]
From Michael Krieger
Power concedes nothing without a demand. It never has, and it never will.
- Frederick Douglass
Fairly quickly, Corzine accumulated a massive net long sovereign debt position that eventually totaled $6.3 billion, or five times the company’s tangible common equity as of the end of its fiscal second quarter. I’m told Corzine’s move was highly controversial within the firm. But no one overruled him, maybe because after all, he was [...]
By Wolf Richter www.testosteronepit.com
“A shame that we can’t see Japan because of the marine layer,” I said, and we both laughed because it was so silly. We were looking west from the top of the cliffs across the Pacific, and what we saw was a gray layer of fog just above the waves some distance offshore. That day we were lucky; often, the marine layer [...]
With most global stock markets rallying and gold & silver higher, today King World News interviewed acclaimed money manager Stephen Leeb. When asked what he sees happening, Leeb responded, “My thoughts are that we are seeing a pretty broad based rally. Stocks are up, copper, which started the day around $3 is now $3.11 and gold, which was down earlier is now up 1%. What’s [...]
Bernanke set to crank up printing presses once again
Paul Joseph Watson
Thursday, September 22, 2011
Although mainstream financial analysts are all but certain that Ben Bernanke will now refrain from launching a third round of money printing, economist Peter Schiff told CNBC today that the unfolding global depression will force the Fed to resort to QE3 in a failed effort to prop up the [...]
With continued strong Chinese and Indian accumulation of physical gold, today King World News interviewed acclaimed money manager Stephen Leeb. When asked about the massive physical buying out of Asia, Leeb replied, “People want a currency they can rely on and gold really is a currency. If you are sitting there as the Chinese right now with $3.2 trillion, do you really want to have more [...]
12 SEPTEMBER 2011
By Greg Hunter’s USAWatchdog.com
The head of the International Monetary Fund, Christine Largarde, said Friday the world economy is entering a “dangerous new phase.” Lagarde is referring to a debt bubble, the likes of which the planet has never seen before, and the possibility that it could all unravel at any moment. Uncertainty over the debt crisis in Europe is what caused the Dow to [...]
3, 2, 1: Global Debt Meltdown
We are steamrolling toward a massive global debt meltdown, and at this point world leaders seem to be all out of solutions. Over the last 30 years or so, the greatest debt bubble in the history of the planet has produced unprecedented prosperity in the western world. But now that debt bubble is starting to burst and the bills are coming [...]
Gold surged to an all-time high of $1,594 an ounce in London, lifting silver to $39 in its train. Photo: AP
On one side of the Atlantic, the eurozone debt crisis has spread to the countries that may be too big to save – Spain and Italy – though RBS thinks a €3.5 trillion rescue fund would ensure survival of Europe’s currency union.