In this recent hard-hitting interview with Financial Sense Newshour, successful entrepreneur and twice presidential candidate Steve Forbes likens Fed Chairman Ben Bernanke to a blind astronomer, says quantitative easings, or “QE’s”, should be called “Titanics,” while also warning listeners of impending wealth taxes now used in France and elsewhere.
http://www.financialsense.com/steve-forbes/fed-sinking-real-economy-quantitative-easing-titanic
“There’s never been a time when the [Fed] has positively guided the economy. It’s always a disaster when they try to guide the economy, and [...]
How disasters, both natural and man-made, are on the rise. Indeed, a catastrophe of one sort or another seems always to be unfolding somewhere on the planet. John David Ebert insists that we have entered into a veritable Age of Catastrophes which have grown both larger and more complex and now routinely very widespread in scope. The old days of the geographically isolated industrial accidents, of the sinking of a [...]
Derek Thompson
theatlantic.com
November 28, 2012
Wanna scare somebody about America’s debt on the eve of the Fiscal Cliff? I mean, really scare somebody? Here’s a trick. Don’t talk about the debt. Talk about “unfunded liabilities.”
The U.S. national debt comes out to about $16 trillion today. That’s something. But it’s nothing compared to the extra $87 trillion in unfunded liabilities to Social Security, Medicare, and federal pensions. Here’s how that works. If you [...]
by Peter Schiff, Gold Seek:
If no one seems to care that the Titanic is filling with water, why not drill another hole in it? That seems to be the M.O. of the Bernanke Federal Reserve. After the announcement of QE3 (also dubbed “QE Infinity”) created yet another round of media chatter about a recovery, the Fed’s Open Market Committee has decided to push infinity a little bit further. The latest move [...]
As the icy waters of the North Atlantic began to flood the Titanic, the men aboard the doomed liner stood aside to let women and children off first.
Their selfless courage ensured that nearly three quarters of these passengers survived the disaster.
And yet, contrary to popular perception, such gallantry is the exception and men – including crew – are much more likely to survive maritime disasters.
Gallantry: The policy of women and [...]
was on RT’s Capital Account on Monday afternoon, talking about the euro crisis yet again. The video is below but I have a few comments before you watch it.
In the video, I say Europe can continue dithering for quite a while. There is no sense in making predictions about imminent euro zone destruction because Europe has a lot of tools in its arsenal to continue its Great Dither. But while my comments [...]
From SHTFplan:
James Cameron, the Hollywood producer responsible for blockbuster films like Terminator, Titanic, and Avatar, is reportedly preparing to exit stage left.
While the move for the Canadian-born Cameron may initially be perceived as a rejection or denouncement of American policies and ideals, Cameron, who has made campaign donations to the Democrat Party in the past, most notably during the 2004 Presidential election where he supported democrat John Kerry, may have [...]
Germany Buys Itself First-Class Ticket on Titanic
Click on some of these and then click on the 3 month charts:
Italian 10 Year yields
Italian 5 Year yields
Spanish 10 Year yields
Belgian 10 Year yields
Daily Ticker
Bank of America is doomed, says bank analyst Chris Whalen, the founder and managing director of Institutional Risk Analytics.
Importantly, this dour outlook as nothing to do with the company’s operating businesses, which Whalen thinks are fine. In fact, says Whalen, there’s no need for the bank to be restructuring them and firing thousands of employees to improve its bottom line.
The part of Bank of America that’s [...]
by ZH
All aboard the we’ll make it up as we go along Titanic:
AGREEMENT ON NEW GREEK AID MAY BE DELAYED TO JULY, FRIEDEN SAYS
FRIEDEN SAYS CONDITIONS HAVE TO BE RESPECTED IN GREECE
FRIEDEN SAYS NEED TO ENSURE NO CONTAGION EFFECT
FRIEDEN SAYS SEVERAL GREEK OPTIONS STILL HAVE TO BE STUDIED
FRIEDEN SAYS GREEK DEFAULT WOULD HAVE GREAT CONSEQUENCES
FRIEDEN SAYS GREEK DEFAULT WOULD AFFECT `ALL OUR BANKS’
FRIEDEN SAYS PRIVATE SECTOR INVOLVEMENT FOR GREECE `LIKELY’
And [...]
Quote:
Dr. Steve Keen, the ever-insightful Australian economist who runs the Debt Deflation website, wrote an excellent piece in March of 2009 entitled Bailing out the Titanic with a Thimble. It essentially argued that the U.S. government’s fiscal stimulus and the Fed’s liquidity injections would be wholly insufficient to restart growth in the private credit markets, and so far this analysis has been spot on.
Ilargi and Stoneleigh, [...]
by Anonymous
The United States economy is rotten at the core and has been stolen from the American people by the Wall Street Thives that drove the Titanic into the iceberg in the first place!!
KA-BOOM! Crash will be any day now! It is going to be like nothing else ever seen? here or anywhere else in history. God bless!
Remember the lights were still on in the titanic until she lifted out of the water and eventually broke her back.
http://www.zerohedge.com/article/spanish-q1-2010-unemployment-number-accidentally-leaked-surpasses-20-first-time-1997
A freak leak of the Spanish unemployment number by the National Statistical Institute (INE), the equivalent to the DOL, was captured by Spanish daily ABC.es, according to which for the first time since 1997, the unemployment rate in the country that was notched by S&P today, will surpass 20%. This [...]
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