Here is the message from the ruling elite to you ignorant masses: Debt got us into this mess and it sure as hell is going to get us out. They have convinced the mainstream media that the reason the economy is sputtering is because the average Joe...
Obama's mortgage modification program (HAMP) has been an utter failure. More than half the applicants default within the year. At the same time, mortgage purchase applications have fallen off a cliff. "The weekly applications index is at the lowes
Governor Arnold Schwarzenegger had declared a brand new budget emergency in California, where a $19.1 billion shortfall will force state employees to take time off, with the possibility that the state may bring back last summer IOUs to pay its debts.
Going back over the past 6 decades (Chart 6), household debt has been forever rising as a percentage of GDP, ramping up this decade to its peak in Q1 last year at 97.3%. Through the end of Q1 this year, it has dropped to 92.8%.
Financial experts think this will be the largest "scam" or "legalheist" in world history. Obama's cronies make the Mafia look like rank amateurs. They will make Bernie Madoff's fraud look like penny ante stuff
The 4-week average of initial weekly claims has been at about the same level since December 2009 (eight months) and the 4-week average of 452,500 is high historically, and suggests a weak labor market.
Rome was not as indebted to the gills as is the US. Accordingly, the US is in fact in a far worse shape than Rome, as the ever increasing cost of funding the debt can only come from further currency debasement, which in turn merely stimulates greater
Quite possibly this has something to do with the fact that Arnie just had a very vivid Total Recall from the future in which California had filed Chapter 66 (a brand new invention in honor of the famous route)...
The danger today, as opposed to prior deleveraging cycles, is that the deleveraging is being attempted into the headwinds of a structural demographic downwave as opposed to a decade of substantial population growth.
There are two major schools of thought on what is coming next…and two renegade, home-schools too. There are those who believe we have a recovery…though weak…that will continue and eventually bring the economy back to health. This is the line of the O
Is something (abnormally) fishy in the state of precious metals manipulation? ...after Adrian Douglas observation that the LBMA has decided to block "access to statistics relating to the trading activities of its member bullion banks.
There is overwhelming agreement among economists that the Second World War was responsible for decisively ending the Great Depression. When asked why the wars in Iran and Afghanistan are failing to make the same impact today, they often claim that th
Hundreds of residents of one of the poorest municipalities in Los Angeles County shouted in protest last night as tensions rose over a report that the city’s manager earns an annual salary of almost $800,000.
An overflow crowd packed a City Counci
The 22 statistics detailed here prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America.
The rich are getting richer and the poor are getting poorer at a staggering rate.
The Senate voted 60-40 on Tuesday to move forward with reauthorizing unemployment benefits for the long-term jobless, 2.5 million of whom have missed checks since the end of May as Republicans and conservative Democrats filibustered several bills to
Do we spend $1 trillion a year on foreign policy? That was a claim recently made by Rep. Ron Paul (R-TX). The statement got the attention of the folks over at Politifact. They reviewed it, and they found it to be true:
Taking into account the approximately 14 million new job seekers in the future, then the December 2007 unemployment rate will not be met until April 2021! Welcome to the new normal. Of course, both of these analyses assume...
This week Max Keiser and co-host, Stacy Herbert, look at the latest scandals of deficit fraud, Hank Paulson's love of financial reform and the RIAA's very low return bullying. In the second half of the show, Max talks to Ben Davies of Hinde Capital a
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