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by Charles Hugh-Smith Here’s the basic mobile gold rush model: poach advert spending in a stagnant economy. The mobile gold rush of Web 2.0 continues to attract thousands of techie fortune seekers to San Francisco. It’s an old story, and a compelling one: there’s gold in them thar hills, and I’m a-gonna git me some. The only thing that changes is the nature of the gold. The dot-com boom of the late 1990s created [...] by Brittany Stepniak, Wealth Wire: Tax Freedom Day is a pretty big deal for the finance nerds amongst us. It’s a day when our nation, as a whole unit, has officially earned enough money to pay its total tax bill for the year. This year’s date of tax-freedom will arrive five days later this year than it did last year largely because of the fiscal cliff deal that raised federal taxes on individual [...]  from KWN: Today 40-year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, stated, “History says that once set in motion, fiat money schemes cannot be reversed. Tragedy and collapse are the terminal destinations.” Below is Fitzwilson’s exclusive piece for KWN:
“Andrew Dickson White was a professor of history in the second half of the 19th century. He also convinced Ezra Cornell to [...] Whether Atwater, California will join the prodigious ranks of Stockton, San Bernardino, and Mammoth Lakes to become the 4th Muni bankruptcy is up for vote on October 3rd (before a $2mm bond payment in November). As Bloomberg notes, the 28,000-strong Merced county town is suffering under the same weight of public employee costs, lost revenue, and a stagnant economy leaving it with a $3.3 million budget deficit. While some put their [...] From Bloomberg: New Jersey’s unemployment rate is the highest in more than three decades. Revenue trails Governor Chris Christie’s projections by $100 million. And its assembly is considering making the state the first in the U.S. to require drivers to restrain pets in their vehicles. Assemblywoman L. Grace Spencer, a Newark Democrat who owns a Pomeranian named A.J. along with five cats and a rabbit, has introduced a bill to require motorists [...] DALLAS — Republican presidential nominee Mitt Romney doubled down Wednesday on his latest line of attack against President Obama, saying that the Democrat has presided over the worst economic recovery since the Great Depression — creating a “stagnant economy that fosters government dependency.” Mr. Romney said the economic policies he plans to pursue as president would speed up the sluggish economic recovery, which has seen the nation’s unemployment rate stuck above 8 percent for [...] The Bank of England is to offer money to high-street banks to kick-start mortgage and small business lending to prevent loans being rationed for many families and entrepreneurs, the Chancellor announced. It comes after sharp rises in the costs of mortgages and other loans in recent months as banks struggle to raise money in the midst of the single currency crisis. Sir Mervyn King, the Bank of England Governor, said that the [...] By now, the bubble in student loans is becoming more widely understood. The absolute level continues to rise significantly and growth is accelerating with 8% YoY growth just reported, via the WSJ. Of course the reasons are anathema but attending college on the back of hope of a better-paying job when everyone else is also attending college in that hope (thanks to endless student-loan funding from your helpful government) seems to be self-defeating as the [...] “THE Children of Men,” P. D. James’s 1992 novel, is set in a future where the world’s male population has become infertile, and an aging Britain is adapting to the human race’s gradual extinction. Women push dolls in baby carriages. Families baptize kittens. There are state-run “national porn shops” to stimulate the flagging male libido. Suicide flourishes. Immigrants are welcomed as guest laborers but expelled once they become too old [...] Sara Eisen is a Bloomberg TV macro reporter with a finger on the hottest debates in economics from Asia to Europe.
In that position, she has one major advantage over your average investor on the Street — access. Eisen talks to everyone in macro economics. And recently, she spoke with Wall Street Sector Selector about what her sources are really worried about. One of them is pretty obvious, the other, perhaps not so much: From the [...]
The public President Obama, bubbly in his reelection campaigning about a recovering U.S. economy, isn’t as optimistic in private, telling a select few that it will likely take up to two years for any recovery to click in. A letter provided to Washington Secrets from Obama to a long-unemployed Portland, Maine carpenter pulls back the curtain of economic hope to reveal the truth about the stagnant economy. “I won’t lie to [...] From Bloomberg: European banks, under pressure from regulators to bolster capital, are selling some of their fastest-growing businesses to competitors from outside the region — at the expense of future profit and economic growth. Spain’s Banco Santander SA (SAN), Belgium’s KBC Groep NV (KBC) and Germany’s Deutsche Bank AG are accelerating plans to exit profitable operations outside their home markets. Santander, which said in October it needs to plug a 5.2 billion-euro [...] The decision by the Obama administration to delay any action on the XL Keystone pipeline until after the election is a fitting development for an administration that has pursued a bankrupt energy policy, a bankrupt jobs policy and is quite literally bankrupting the country with politics thinly veiled as policy. And the beauty for Obama in this latest axe he’s taken to jobs in the USA is that he doesn’t even [...] It all began with the efforts of a few, well-intentioned government officials.” Many will know what we are talking about already… An Encore Presentation Originally, on this day (-2) in 1922, the German Central Bank and the German Treasury took an inevitable step in a process which had begun with their previous effort to “jump start” a stagnant economy. Many months earlier they had decided that what was [...] From FT: Weeks after taking to the streets in Manhattan, Occupy Wall St demonstrators are camped a block from the White House. Many of them are wondering: do they have a friend inside? While not endorsing the protests, Barack Obama and Joe Biden have expressed understanding of the movement that has spread rapidly across the country. Mr Obama said people were angry because Wall Street had not been “following the [...] From FT: Silvio Berlusconi, Italy’s centre-right prime minister, and Giulio Tremonti, finance minister, held several hours of emergency talks on Friday in which they agreed to speed up a package of measures to liberalise the economy. The measures were announced at a press conference after the close of markets following a day in which the spread between Italian and German 10-year bonds overtook that of Spain, placing [...] Havana (CNN) — Olivia Sersute and her sister have shared the same home on the second floor of a faded Havana mansion since they were children. Even after getting married and having kids of their own. They didn’t have much choice. In theory, Cubans own their own homes, but they aren’t allowed to sell them. “We’re happy here,” Sersute told CNN as she walked around the sparsely decorated [...] It’s been a rough June for the White House. Instead of being able to run a campaign taking credit for economic improvement, President Obama will, according to the latest forecasts, be trying to win four more years amid a grim economy next year. The president’s reelection team, once hoping to run on a “Morning in America” theme now doesn’t have that luxury. No wonder, [...] Overall consumer prices rise 0.2%, the smallest increase in six months, but core inflation edges up to 0.3%, the highest since July 2008, the Labor Department says. Reporting from Washington— Higher prices seeped from the gas pump into the broader U.S. economy in May, adding new hurdles for the sluggish recovery and the government’s options for boosting it. The combination of a stagnant economy and rising inflation led some [...] Thirty-one years ago, inflation in a stagnant economy doomed the reelection of Jimmy Carter. Team Obama denies it to the skies, but inflation is on the march again today in an even more stagnant economy. The Obama administration reports that the year-to-year rate of increase in the Consumer Price Index has established a trend of increasing inflation. In November 2010, the rate was 1.7%. In April [...] by William It will be where it is now . . . Maybe, but there is some inconsistency in the case for hyperinflation and a stagnant economy at the same time. Massive interventions by the Fed, the Treasury, and the legislative spenders are likely to produce results, though all we’ve seen so far are the tendrils of it. In the halls of bureaucracy, there is gleaming pride in the lack of adverse repercussions. [...] by Saxplayer00o1 I see three big differences on why the current situation doesn’t look as bad as it did in the 1930′s, but in reality it’s as bad or worse. 1.  Soup lines.  I think everyone is familiar with the famous black and white photos of people lined up around the block waiting in soup lines for food.  Well, we don’t see that today but what we do [...] Saxplayer00o1 1) Moody’s slashes Ireland credit rating “DUBLIN — Moody’s on Friday slashed its credit rating on debt-stricken Ireland just days after parliament approved a massive international bailout and as the European Union battled to safeguard the euro. Moody’s Investors Service cut its rating on Ireland by five notches from Aa2 to Baa1, citing increased uncertainties over the country’s economy and public finances. Moody’s added that the Baa1 [...] The anger behind the Tea Party is real, whether or not it can hold up as a real political party. Dems have to take it as seriously as GOP does. This recession has made people angry, and until they get some economic relief the Tea Party will live on. An excellent analysis here: “The Tea Party now has 18 primary and special election victories under its belt. The media mostly [...] |
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