by Wolf Richter But the oil-price crash was supposed to goose consumer spending. The price of oil continues to crash relentlessly. WTI trades at $49.80 as I’m writing this on Monday after hours, down 5.5% for the day, and down 54% since June 2014. The oil-price plunge is eating into the American oil boom, munching on income statements and balance sheets of drillers that have gorged on junk[...]
Tag: economic collapse
Beware the Money Illusion Coming to Destroy Your Wealth
By James Ricakrds A money illusion sounds like something a prestidigitator performs by pulling $100 bills from a hat shown to be empty moments before. In fact, money illusion is a longstanding concept in economics that has enormous significance for you if you’re a saver, investor or entrepreneur. Money illusion is a trick, but it is not one performed on stage. It is a ruse performed by[...]
The Fed is Heading for Another Catastrophe – Roach
With so much dry kindling, it will not take much to spark the next conflagration. By Stephen Roach NEW HAVEN, Conn. (Project Syndicate) – America’s Federal Reserve is headed down a familiar — and highly dangerous — path. Steeped in denial of its past mistakes, the Fed is pursuing the same incremental approach that helped set the stage for the financial crisis of 2008-2009. The[...]
Paul Craig Roberts Stunning 2015 Predictions – At Any Time The West Can Collapse
Today King World News spoke with the man who former President Ronald Reagan called upon to help save the United States when the U.S. was in the midst of the 1980 panic. Dr. Paul Craig Roberts gives a portion of his fascinating predictions for 2015 below and also issued the ominous warning that the West could collapse at any time. Eric King: “Dr. Roberts, what are your predictions for 2015?[...]
IMF Now Ready To Slam The Door On The U.S. And The Dollar
Editor's Note: Owning physical precious metals and safeguarding them in a non-bank depository is best defense. By Brandon Smith As I write this, the news is saturated with stories of a hostage situation possibly involving Islamic militants in Sydney, Australia. Like many, I am concerned about the shockwave such an event will create through our sociopolitical structures. However, while most of[...]
17 Reasons Why I Trust Silver – GE Christenson
War and Inflation – 3 reasons: · From Ernest Hemingway: “The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.” This was true before WWII and is just as true now. · There are reports of a train load of American tanks passing[...]
With The World On The Edge Of Chaos, Gold & Silver Now At Most Oversold Levels In History
On the heels of continued pressure in the metals markets as we head into the end of 2014, it appears gold and silver are now at the most oversold levels in history. Below KWN readers can see the absolute carnage Western central banks have caused in the gold and silver markets. This is the type of thing that the big banks follow closely, as well as big money and savvy professionals. David P. out[...]
Same Currency War, New Battle Phase
By James Rickards The current global currency war started in 2010. My book, Currency Wars, came out a little bit after that. One of the points that I made in the book is that the world is not always in a currency war. But when we are, they can last for a very long time. They can last for five, 10 or 15 years, sometimes longer. And so it’s really not a surprise that here we are in 2014 talking [...]
Americans are 40% Poorer than Before the Recession
By Quentin Fottrell The Great Recession is officially over, but Americans are still 40% poorer today than they were in 2007, the year before the global financial crisis. The net worth of American families — the difference between the values of their assets, including homes and investments, and liabilities — fell to $81,400 in 2013, down slightly from $82,300 in 2010, but a long way off the[...]
Bankers Want Your Savings As Part of Their Next Bail-Out
Keep a close eye on what savings you have left. The financial honchos have plans for your money. Ellen Brown, who writes at The Web of Debt is the only blogger that I am aware of who writes about the neoliberal machinations related to preparing for the next giant bank crashes. In a recent post she describes the latest plan adopted by the G20 nations. I believe this is crucial information for[...]