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The same tortured logic has been used to justify the fact that the federal government deigned to bail out Wall Street but not Detroit. Supposedly, the mega-banks pose a systemic risk and Detroit doesn’t. On July 29th, former Obama administration econ
After a serious pullback in May, is it time for income-starved investors to reconsider real estate investment trusts (REITs)? Or will America’s favorite sugar daddy, Federal Reserve Chairman Ben Bernanke, tease investors with ongoing threats of taper
Wednesday, Breitbart News reported that over the last 30 days, Gallup measured a sharp spike in unemployment, from 7.7% to 8.9%. Friday, the Commerce Department released another startling and unexpected statistic:
The law is more accurately called the Debt Serf Pipeline Act because students who use the loans are pouring their financial futures down the insatiable drain of the state. Like the grads before them, they are likely to end up moving back home and
The lingering impact of the Wall Street crash of 2008 to 2010 has devastated the job market for young college grads. The government debt piled on to bail out Wall Street has killed the prospects for the next generation’s standard of living. Now, Wall
Certainly no slouch, Goldman Sachs is holding up its end in the busting of public confidence in U.S. financial markets. One of its former salesmen, Fabrice Tourre, was found guilty earlier this month of six counts of securities fraud, including one c
Has President Obama at last figured it out? If only.
If you want to track how close we are to the next financial collapse, there is one number that you need to be watching above all others.
President Obama has overseen a dramatic expansion of the regulatory state that will outlast his time in the White House. The reach of the executive branch has advanced steadily on his watch, further solidifying the power of bureaucrats who churn out
You can see it coming, can't you? The yield on 10 year U.S. Treasuries is skyrocketing, the S&P 500 has been down for 9 of the last 11 trading days and troubling economic news is pouring in from all over the planet.
Treasury Yield 30 Years (^TYX)
Historically speaking, rates are still super low, but what is alarming is that it looks like we hit a “bottom” last year and that interest rates are only going to go up from here. In fact, according to CNBC many experts believe that we will soon be
Towns have taken to offering land for next to nothing — or, sometimes, literally nothing
As everyone knows (since the data is public), in the most recent week the Fed's balance sheet rose to a record $3.646 trillion, an increase of $61 billion in the past week, and a record increase of $813 billion over the past year, a whopping 30% rise
There is one problem with the Fed's plan that bond yields will progress ever higher in calm, cool and collected fashion from here to 3%, 4%, 5% and onward: it assumes that those who don't sell today, will patiently await turn to sell (with much bigge
The chart below explains, in the simplest possible terms, why there are many more "Detroits" on deck.
Peter Schiff on Fox Business (8/15/2013)
According to Austrian Business Cycle Theory, when a central bank slows its money printing that has fueled a manipulated stock market boom, the stock market is very vulnerable to a crash.Murray Rothbard in his book America’s Great Depression explained
Anybody who still thinks corporations are benign actors that play by the rules and don’t need regulation probably didn’t peruse the business section of Friday’s New York Times. Two samples: “Halliburton Pleads Guilty of Destroying Evidence After Gulf
For the last 18 months we have been inundated with asset-gatherers explaining that stocks are cheap and investors should by them for they yield advantage over Treasuries
The Dow Jones industrial average shed about 1.5% -- 225 points -- on disappointing Wal-Mart earnings, news of job cuts at Cisco, weak economic reports and 2-year high in 10-year Treasury yield. The S&P 500 and Nasdaq composite were down by similar p
The Greatest Truth Never Told
The Greatest Truth Never Told
The Greatest Truth Never Told
As Congress gets ready for yet another debt-ceiling fight, it seems our government may have already defaulted on its debts.
The Treasury Department's Financial Management Service which publishes both the federal government's official Daily Treasury Statement and its official Monthly Treasury Statement, is reporting that in July the federal government ran a deficit of $98
He made the crash call ahead of the 2008 crash, and predicted the market turn-around in 2009 to the exact day on which it happened.
Growth is slowing sharply in emerging markets like China, India and Brazil. Europe is still ensnared in a recession. Japan is only now taking baby steps forward after a decades-long duel with deflation.
W]e have $3 trillion or so [in] bank reserves. Bank reserves can only be used by banks, so they don’t do much good for the rest of us. While the reserves may not do much for the economy, the Treasuries they remove from it are in high
Americans renouncing U.S. citizenship surged sixfold in the second quarter from a year earlier as the government prepares to introduce tougher asset-disclosure rules.
