I think I should accept that I will never in my life cease to be amazed at the capacity of the human being to spin a story to his/her own preferences, rather than take it simply for what it is. Your run of the mill journalist is even better at this than the average person – which may be why (s)he became a journalist in the first place -, and financial journalists are by far the best spinners[...]
Tag: federal reserve
After The Fed Crushed The Middle Class, It Is Targeting The American Family
On a number of occasions this month we’ve drawn attention to the divergent fates of the 80% of American workers whose wages are declining and whose general outlook is concomitantly deteriorating, and the other 20%, whose pay is increasing and who generally feel good about their economic future. We also pointed out that with the correlation between wages and consumer spending now nearly perfect[...]
10 Charts Which Show We Are Much Worse Off Than Just Before The Last Economic Crisis
If you believe that ignorance is bliss, you might not want to read this article. I am going to dispel the notion that there has been any sort of “economic recovery”, and I am going to show that we are much worse off than we were just prior to the last economic crisis. If you go back to 2007, people were feeling really good about things. Houses were being flipped like crazy, the stock market [...]
The Age Of Money And The Federal Reserve’s Secret Plan
As people continue to digest information relating to the Fed meeting, today the Godfather of newsletter writers, 90-year-old Richard Russell, discussed "The Age of Money" and the Federal Reserve's secret plan. Richard Russell: "I read with interest Vanity Fair’s letter to its readers. The editor asked if we could put a name and age to the world we live in. He suggested we call it "The Age of [...]
France, Germany, Italy to Join China-Led $50bn Infrastructure Bank
France, Germany and Italy have confirmed they’ll join China’s new Asian Infrastructure Investment Bank (AIIB). Participation in the rival to the US-led World Bank is seen as a setback for the Obama administration. The three European countries on Tuesday confirmed in a statement they intend “to become founding members of the Asian Infrastructure Investment Bank,” according to[...]
The Market Collapse Investors Won’t Expect – Jim Rickards with Video
Ed. Note: Jim Rickards has just released a brand-new book, “The Big Drop: How to Grow Your Wealth During the Coming Collapse.” You won’t find it in bookstores — it’s available exclusively for readers of his monthly investment letter, Strategic Intelligence. But this message is so important, we’re offering Daily Reckoning readers a chance to get a copy — free of charge. If you’re[...]
Housing Starts Collapse Most In 8 Years To 18 Month Lows
Housing Recovery? Yellen, we have a problem. Housing Starts for February collapsed 17% - this is the biggest MoM percentage drop since February 2011, and at -184K units down, this was the single biggest monthly decline in absolute terms since January 2007! At 897k SAAR, this is the first sub-900k print since September 2013 and biggest miss since Feb 2007. Multi-family starts are the lowest since[...]
Central Bankers Move To Protect Themselves Ahead Of Historic Global Crash! – Richard Russell
As people continue to digest breaking news out of Greece and Ukraine, today the Godfather of newsletter writers, 90-year-old Richard Russell, warned central bankers are now moving to protect themselves ahead of a historic global crash. Richard Russell: "Everybody and his brother are talking about when the Fed may raise rates, but few are talking about why the Fed may raise rates. But Richard[...]
Investors Still Aren’t Fully Awake to this Dollar Nightmare Yet – MarketWatch
By Shawn Langlois We are back on “patient” watch this week, with the Fed’s potential market-rattling precursor to a rate hike due midweek. Our call of the day predicts that, for now, “patient” will remain in the script and the Fed won’t be rocking the boat on interest rates (more on that below). Market behavior says: “I’m not so sure.” Volatility has been on the rise, and[...]
What Will Happen to You When the Dollar Collapses?
by Jeff Thomas Historically, when a nation’s debt exceeds its ability to repay even the interest, it can be assumed that the currency will collapse. Typically, governments exacerbate the situation by printing large amounts of currency notes in an effort to inflate the problem away, or at least postpone it. The greater the level of debt, the more dramatic the inflation must be to counter it.[...]