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During a conference call with investors last week, JPMorgan CEO Jamie Dimon made a memorable response to a question from Wells Fargo analyst Mike Mayo about the collapse of a subprime auto lender called Tricolor that cost the bank $170 million.
In the 2006 Mike Judge movie Idiocracy, the dumbed-down human population five-hundred years into the future have replaced water in drinking fountains with the salty sports drink "Brawndo," and have even begun to water farm crops with Brawndo.
Of course not, but politicians want them. What's the real problem and solution?
"We're sitting on the ultimate house of cards," warns developer Mitch Wexler, exposing what he calls a $5.1 trillion school bond Ponzi scheme propped up by inflated home values and taxpayer naivety.
'Big Short' investor STEVE EISMAN: I predicted the 2008 crash... this is how Wall Street's next $400 billion bubble bursts
A classic saying among preparedness experts in the US is that America is capable of weathering many crises, but when the food stamps shut down all bets are off. In other words, when the free stuff army loses their handouts, that's when all hell brea
One in three Americans now have more credit card debt than emergency savings, according to the latest survey by financial services company Bankrate.
Dramatically Reduced Christmas Spending, Soaring Defaults And Empty Shelves: 14 Signs That The Condition Of The U.S. Economy Is Worse Than You Think
We've not seen days like these for gold and silver since the late 1970s. It is nothing short of spectacular for investors and hoarders of the tried and true metals.
Something BAD is brewing in the regional banks. And before we shrug it off, we need to consider that regional banks:
Turn out the lights, the party's over They say that all good things must end Call it a night, the party's over And tomorrow starts the same old thing again - Willie Nelson
The provisions placed by the Democrats are utterly absurd.
Given that the Federal Reserve has obviously abandoned its 2 percent target for the rise in prices brought on by its own paper-money inflationary policy, it's important that we keep in mind how our nation's paper money-system and the Fed's infl
Bridgewater Associates founder Ray Dalio stated on Friday that gold has started replacing some U.S. Treasury holdings as the riskless asset for investors, amid a continued surge in the yellow metal's prices.
That is where we are today. The Federal Reserve has used its tools to lock inflation into our lives for some time to come.
With the Fed's latest rate cut still in view, economic fallacies abound. Policymakers and talking heads speak of monetary policy as a lever that can be flipped back and forth without issue.
The recent increase in gold prices in the United States and around the world has been driven by a confluence of economic, financial, and political factors.
But incentives and price cuts are not helping buyer traffic.
States embrace goldbacks amid dollar decline, offering antifragile currency against centralized control
With rising prices that come with inflation, most people have no idea that it is federal officials who are causing the prices to rise through inflationary debasement of the value of people's money.
Peter Schiff analyzes gold's surge, critiques Jamie Dimon's admission on gold's rationality, and discusses the impending dollar crisis.
...funding stress and regional bank angst?
The United States government shutdown is hitting Florida where it really hurts.
America's aging population, combined with shrinking birthrates and falling immigration, mean fewer workers fund Social Security. Here's how this demographic reversal could trigger a retirement meltdown…
For many years, there have been those who have been prognosticating an economic crisis – not just a recession lasting a year or two, but a full-blown Greater Depression that would eclipse any major event we've seen in our lifetimes.
"We Want Our Entitlements": In November, Food Stamp Money Will Run Out For 42 Million Very Angry Americans
The US is no longer "managing" its debt. It is surviving it. Interest payments now eclipse our entire defense budget. Demand for Treasuries is drying up. And central banks? They are quietly stockpiling gold.
The BLS has come out with another huge rug-pull on its nonfarm payroll count. And also, predictably, this has triggered loud blathering from both Wall Street and the White House on behalf of exactly the wrong conclusion.
The Fiserv-powered U.S. dollar stablecoin will be available to local banks and credit unions, joining crypto experiments by U.S. states.
An increasing number of Americans are falling behind on their car payments, mimicking a trend commonly seen at the start of major economic downturns.
