Please make me chaste, but not yet. This famous prayer by St Augustine has been the defining characteristic of the policy response in advanced countries to the economic crisis ever since it began nearly six years ago.
by Jeremy Warner, The Telegraph:
Throughout, policymakers have attempted to ease the pain of the adjustment by reinforcing many of the things that made the economy ill in the first place; pre-existing structural deficits have been [...]
When I was younger, so much younger than today,
I never needed anybody’s help in any way.
But now these days are gone, I’m not so self assured,
Now I find I’ve changed my mind and opened up the doors.
– John Lennon, the Beatles
(From Cafayate, Argentina) There are some who worry whether the path that Argentina has taken to monetary ruin on multiple occasions (and that it seems intent on taking again) is [...]
I’m telling you we’ll be lucky to make it through the end of the first quarter without a major MAJOR crash…
I’m getting reports in from many business owners experiencing the same thing..
Proof:
Wal-Mart Situation “Getting Worse” New Leaks Reveal
http://www.zerohedge.com/news/2013-02-27/wal-mart-situation-getting-worse-new-leaks-reveal
JCPenney Reports Horrific Results, Stock Plunges
http://www.zerohedge.com/news/2013-02-27/jcpenney-reports-horrific-results-stock-plunges
Retail Rally In Jeopardy as Gas Prices Climb Higher
Drivers aren’t the only group growing concerned as gas prices tick upwards. Most retailers and consumer discretionary businesses consider $4 [...]
by Tim Ayles
We are about to get another chance to buy stocks on the cheap.
Back in July of 2011, the world was worried about the impending debt ceiling that would throw the American economy into a tailspin from which we might never recover. I was getting multiple phone calls from clients wondering what we were going to do once America defaulted, to which I responded by writing an article to [...]
 By Michael
Barack Obama and John Boehner both seem absolutely determined to drive U.S. government finances off a cliff. The mainstream media would have you believe that there are vast ideological differences between the two of them and that they are bitter enemies, but that is simply not the case. Both of them say that tax increases are “necessary”, but they disagree over the details. Both are seeking about a trillion [...]
A new government report finds that the country is heading toward fiscal ruin, and the only way to avoid that is to make deep cuts in entitlement programs; tax hikes can’t fix the problem.
In other words, what’s needed is the opposite of what the Obama administration and congressional Democrats propose as part of the fiscal cliff talks.
The Government Accountability Office report found that, even using optimistic assumptions about spending, the [...]
Europe stands on the threshold of a series of dramatic make-or-break decisions this week that will determine whether the eurozone can finally move towards resolving its long-running economic crisis or shift alarmingly towards the abyss of European disintegration.
Tomorrow judges at Germany’s constitutional court will decide if a hotly contested permanent rescue fund can be set up to help bail out ailing eurozone countries. A No verdict or even restrictive conditions [...]
by Charles Hugh Smith from Of Two Minds
The Stock Market Is An “Attractive Nuisance” And Should Be Closed
The dark pool of parasitic scum known as the stock market is an “attractive nuisance” that should be shut down.
In tort law, an attractive nuisance is any potentially hazardous object or condition that is likely to attract the naive and unwary, i.e. children.
A classic example is an abandoned swimming pool half-filled with fetid water.
Since many stock market [...]
Soros and everyone else are getting set up for the collapse of the EURO. Once this happens the stage will be set.
via theblaze:
“We notice that it’s becoming increasingly difficult to sell Asians and Americans on investments in Europe,” asset manager Vorndran told Spiegel, adding that although the U.S., Japan, and the U.K. “are all lying in the same hospital ward,” as he puts it, “it’s still better to invest in a [...]
June 19, 2012
Remember when America’s big banks destroyed our economy, and then got bailed out by the government to the tune of trillions of dollars? And remember how, in the wake of that disaster, the government passed some important but relatively modest regulations to keep the banks from fleecing consumers – the very people whose taxpayer dollars saved the banks from ruin – quite as badly as they had [...]
NEW YORK – America likes to think of itself as a land of opportunity, and others view it in much the same light. But, while we can all think of examples of Americans who rose to the top on their own, what really matters are the statistics: to what extent do an individual’s life chances depend on the income and education of his or her parents?
Nowadays, these numbers show [...]
http://www.financialsense.com/contributo…
Here is an excerpt:
“The battle has expanded. It is no longer solely on price. It has focus on draining the crooked camps of their physical gold. The latest wrinkle is the revelation that the derivative sector is as corrupt as the bond core, as banks are liable for hundreds of $trillions they cannot pay following years of hefty ripe fees taken in. The constant backdrop since 2008 is that the [...]
by The World Complex
Confidence And Ruin Amongst The PIIGS
For today’s installment we’ll take a look at the debt:gold ratio for the PIIGS countries to see who puts the IG in PIIGS (perhaps you’ve already guessed).
I am using the same methodology used in these postings. The data come from the World Gold Council, the World Bank (albeit indirectly, for instance here), and here.
We’ll start off with a look at the biggest of them–Italy.
And just for comparison’s sake, [...]
“We have just passed a law that conforms with federal law,” he said. “We will see what happen. We expect them to do their job now and we’ll see if they are going to do it.”
But when only five pickers showed up Thursday morning to harvest his sweet potatoes, farmer Keith Smith saw possible ruin: the loss of his half-million dollar crop.
“They’re running scared because of [...]
AOL bought Huffington Post for $315 million earlier this year.
So far, according to a reader, the intergration is going very badly:
Twelve reasons why the AOL – Huffington Post merger is going down in flames.
The tragedy here is that not only will the deal ruin AOL, but it will also ruin the Huffington Post.
It is the Peter Principle on a grand scale. None of AOL’s senior editors (Huffington, Roy Sekoff, and [...]
Check out the Chevrolet Cruze and Ford Focus on AOL Autos.
The last time there was a big run-up in gas prices it helped push U.S. automakers to the brink of ruin. This time, things are different.
Now, the U.S. auto industry is much more competitive than it has been in a long time, offering a lineup of fuel efficient cars that people actually want to buy.
Take the Chevrolet Cruze (26 City / 36 [...]
Bank Makes Huge Profits On Food Stamps
J.P. Morgan is getting rich off of poverty…
Guest post from the Economic Collapse Blog
JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the [...]
As Obama and his Leninists continue to denigrate and rule over the USA and the American people, the Republican latent-integrity “go along to get along” electees—led by chief lame-pony John Boehner—continue to protect the Usurper-and-Dictator-in-Chief. After pretense upon pretense of shock as to how far the Obama syndicate has already taken the country into ruin, the wimpy “I sold my soul, how about you? And [...]
by David Pierre
One can only wonder what will go on behind the closed doors of the upcoming G-20 meeting. One thing is for sure, the rest of the world is really pissed at the United States for the fiscal and monetary train wrecks they have caused. From a fiscal standpoint the U.S. has “out-Greeced, out-Irelanded and out-Spained” the rest of the world.
From a monetary standpoint the [...]
I find it amusing how many armchair bloggers like myself, seem to be able to grasp the desperation of our present economic situation, unlike many of the “economic geniuses” of our time….but then again…….my paycheck isn’t dependent on making it appear that everything is going to be OK.
I, a financial nobody with an economic blogging hobby, can say with 100% certainty that we are in the midst of a deflationary [...]
Two simple, but powerful changes will go a long way to improving true free market investing.
First is a negatively sloped capital gains tax. The original premise for issuing stocks / bonds was to fund companies with good products / technologies / management, with an assumption of attractive (read not greedy) returns on your investment. Now the whole system is simply based on making a quick killing. If you are taxed [...]
We have countless pages of regulations, so many that nobody knows what they are and no individual can find their way through the maze. The tax code fills two bookcases in the law library. Yet, we see advocacy for even MORE regulation, and we know that the lobbyists fill Washington and that congress critters get high-paying jobs because they have influence and can get regulations reversed or developed to protect [...]
1. The Chinese Regime and the current US Regime are identical in their tropes, appetites and strategies. Together, they are the most potent source of economic, geo-strategic and moral risks in the world. Both Regimes are vast and organized criminal networks: cruel, voracious, vain, greedy and completely contemptuous of real people, everywhere and anywhere in the world.
The struggle between these 2 Regimes is not over values or currencies or systems [...]
The banks that control the world’s supply of money are no better than counterfeiters – and their system of juggling debt has left the global economy teetering on the brink of ruin. Convicted fraudster Darius Guppy offers a provocative personal view
In 1994, there resided in the cell next to mine a certain “Tommyâ€Â. He had been imprisoned for counterfeiting Dutch Guilders to such a high standard that he had fooled [...]
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