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Peter Schiff
LewRockwell.com
February 21, 2013
The Pound Gets Pounded
As the global currency war intensifies, the majority of attention has been paid to the 17% fall of the Japanese yen against the U.S. dollar over the past few months. The implosion has given cover to the sad performance of another once mighty currency: the British pound sterling. But in many ways the travails of the pound is far more instructive to those pondering [...]
From Mark J. Grant, author of Out of the Box
The Dangerous Road Ahead
“The last time Quantitative Easing was stopped the equity markets dropped precipitously. There is no reason to think that will not occur again though the severity may be less. Today’s FOMC minutes are quite significant in my view. They also said, for the first time, that the pledge to hold short rates at near zero was “conditional.” This [...]
She was the glamorous icon who went on to become the First Lady of Camelot.
But in 1949 Jackie Kennedy was just a foreign exchange student slumming it in Paris who was forced to get by on rations just like everybody else.
John F Kennedy’s wife-to-be stayed in a modest home with a French family where the boiler broke down so often she had to wrap herself in a shawl to stay [...]
Headlines:
Europe seals new Greek bailout, doubts remain
Greek Rescue Leaves Europe Default Risk Alive
Portugal opposition breaks ranks over budget goals
From Bloomberg:
Europe is still struggling to avoid the threat of default as investors warned Greece will soon risk violating the terms of its second bailout in three years.
Seven months of negotiations ended in the pre-dawn hours in Brussels with Greece winning 130 billion euros ($172 billion) in aid it needs to avoid a [...]
Larry D. Spears: The U.S. dollar will start 2012 on an upswing – but don’t let it fool you. What we’re seeing is only a short-term rally inspired by Europe’s travails. In the long-term, the U.S. Federal Reserve‘s loose monetary policy and the United States’ own Debt burden will drive the greenback back down.
That’s the consensus among experts who follow the global money markets and the leading currencies, including several of Money Morning’s own analysts.
“The dollar is going to rally [...]
By Soham Chatterjee
Wed Dec 28, 2011 7:59am EST
(Reuters) – The New York Times Co said it will sell 16 regional newspapers spread across the U.S. Southeast and California to Halifax Media Holdings for $143 million in cash as it looks to cut costs and focus on its most important papers and their websites.
Regional newspapers have struggled recently because of weak local retail and national advertising, partly reflecting the economy’s broader travails.
The [...]
by ZH
It is often useful to learn from one’s mistakes, or in some cases from one’s successes, and as they prepare for their 2012 Blueprint, Deutsche’s FX research team focuses in on lessons they learned from the travails of an asset class that was at times chaotic and at others baffling in its stagnation. Digressing from the high levels of uncertainty accompanied by strange periods of low volatility to a [...]
AMONG those with most to celebrate as the Chinese Communis
t Party marks its 90th birthday on July 1st are the country’s bourgeois reactionaries. Perhaps now the most important pillar of the party’s support, China’s middle class was virtually non-existent until it was recreated in the late 1990s. So far, the communists have amply fulfilled their side of a tacit bargain in which well-off city-dwellers have [...]
by Gonzalo Lira
The Coming Middle-Class Anarchy
True story: A retired couple I know, Brian and Ilsa, own a home in the Southwest. It’s a pretty house, right on the manicured golf course of their gated community (they’re crazy about golf).
The only problem is, they bought the house near the top of the market in 2005, and now find themselves underwater.
They’ve never missed a mortgage payment—Brian and Ilsa are [...]
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