The U.S. Empire is in real trouble. This is due to its idiotic business model of selling quality assets while acquiring massive liabilities and debts. Of course, the U.S. Government realizes this is not a sustainable way to do business, but at least for now…. we continue to have our Bread & Circuses, McDonalds & NFL Football for a bit longer. Furthermore, Americans have no clue that[...]
Month: September 2014
Ebola May Have ‘Catastrophic’ Economic Cost – World Bank
The World Bank warned that the economic costs of the Ebola outbreak in West Africa will escalate to “catastrophic” proportions if the virus spreads, while Ghanaian President John Dramani Mahama criticized the international response to the disease. “If other countries in the vicinity in the subregion of West Africa fail to do what Nigeria and Senegal have done — which is to keep things[...]
Missing Money: What Government Accounting Really Looks Like
by Jeff Desjardins For some time now, the Government of the United States has been effectively checking through their couch for loose change. Anything helps, even if the debt owed is a staggering $17 trillion. Not only is the United States continuing to spend quite frivolously, sometimes they don’t know where the money is going. A thorough review of Uncle Sam’s accounting presents some[...]
Fund Manager on Worst PM Manipulation in 14 Years: Something Ominous This Way Comes
The precious metals have been under the most intense and concentrated period of downward price manipulation by the Federal Reserve/U.S. Government that has occurred over the last 14 years, except for the summer/early fall 2008. Something really bad is occurring behind the scenes with our economic and financial system that is not yet obvious. But I have a feeling we’ll soon find out. By PM[...]
Super-Rich Rush to Buy Gold Bars – What Do They Know?
Super-rich rush to buy 'Italian Job' style gold bars. Economic uncertainties trigger rush for 12.5kg gold bars, worth about £300,000 each. The super-rich are looking to protect their wealth through buying record numbers of "Italian job" style gold bars, according to bullion experts. The number of 12.5kg gold bars being bought by wealthy customers has increased 243pc so far this year, when[...]
More Than Just Gas: Is This Natural Resource The Reason For The Ukraine Civil War?
Earlier today, we got a definitive confirmation that when Obama was talking about "costs" when jawboning on the ongoing Ukraine civil war, he envisioned not only Germany, and thus Europe, both of which are teetering on the edge of a triple-dip recession due to Russian sanctions, but Ukraine itself. The reason: the Ukraine economy appears to have ground to a halt following an overnight report that [...]
Housing Starts Plunge 14% on Volatile Apartment Sector – Recovery?
Home Construction Drops 14.4 Percent as Building Permits Also Slide U.S. home construction plunged in August, led by a steep decline in the volatile apartment category. But single-family house construction, a larger and more stable portion of the market, fell only modestly. Construction fell 14.4 percent in August to a seasonally adjusted annual rate of 956,000 homes, the Commerce Department[...]
Fed Renews Zero Interest Rate Pledge, Restates Jobs Concerns – Duration of Action for “Considerable Time”
The U.S. Federal Reserve on Wednesday renewed a pledge to keep interest rates near zero for a "considerable time" and repeated concerns over slack in the labor market, standing firm against calls to overhaul its policy statement. Many economists and traders had expected the central bank to alter the rate guidance it has provided since March, given generally improving data on the economy's[...]
Will The Swiss Vote to Get Their Gold Back? – Popular Pushback Directed at Financial Bully
By Ron Paul ….no tyrannical regime in history has bullied Switzerland as much as the United States government has in recent years. On November 30th, voters in Switzerland will head to the polls to vote in a referendum on gold. On the ballot is a measure to prohibit the Swiss National Bank (SNB) from further gold sales, to repatriate Swiss-owned gold to Switzerland, and to mandate that gold[...]
How Financial Bubbles Fester And Burst – Even As The Fed Says Not To Worry
By David Stockman In today’s post Wolf Richter offers some solid insights on the dynamics of financial bubbles which merit further comment. The starting point is to recognize that once they gain a head of steam, financial bubbles tend to envelope virtually every nook and cranny of the economy, creating terrible distortions and destructive excesses as they rumble forward. In this instance,[...]