Jim Rogers warned that there is a “100% chance” the world is facing a financial crisis worse than 2008, as Italy was plunged into chaos on the back of soaring bond yields which now make the country’s huge debt unsustainable, mandating yet another EU
The New Reality For U.S. Cities: No Money For Street Lights, Roving Packs Of Wild Dogs And Open-Air Drug Markets
To do that, however, it needs to be bigger or see its lending powers magnified. the chancellor informed them that the EFSF will be leveraged well beyond its current size.
Greece's debts are only one piece of Europe's economic puzzle, ($607 billion) bailout fund to keep the larger economies of Italy and Spain from spinning out of control and forcing weak banks to boost their capital buffers as a defense against market
Once you understand it - truly understand it - you can never fall victim to a ponzi scheme. Not only that, you will never allow any society you are a member of to fall victim to one either, as you will recognize the inherent danger and demand that..
The governments of the western world have had a lot of fun spending money as if there was no tomorrow, but now tomorrow has arrived and all of that debt is rapidly catching up with us.
All across America there are cities and towns that were once prosperous and beautiful that are being transformed into absolute hellholes.
When the world's leaders begin to warn of something in concert, we try to peer beneath the surface to see what they are really driving at. Austerity – ... – is one aspect of it, perhaps. But the installation of a global currency is perhaps another. P
All of which is making our “solution” to the financial pile up of ’08-’09 look better and better all the time. You’ll recall that we promised to tell you how you could fix the problem in our last exciting installment. This must have left you on the e
For those newer to trading I think his view on the dollar is important to understand from a lesson standpoint. Even if you the dollar is ‘cooked’ long term, time frame is important. VIDEO
A good round up of the catastrophic economic situation for the middle class can be found at Alternet, yes, the favorite site of the loony left. I’ve noticed a tendency on the right to deny any fundamental problems,...
Is the U.S. government stockpiling huge amounts of food and supplies in anticipation that something bad is about to happen? Is something about to cause a major economic crisis that will require large quantities of emergency food?
CDS - Hoarding and Downgrades and Collateral
New census data released today reveals that the recession has made American 20 to 30-somethings into a Lost Generation of unemployed and underemployed, the AP reports.
As early as July, we pointed out the increasingly likely endgame in Europe with regard to the EFSF and centralizing/concentrating credit risk.
A dramatic Hail Mary appeared in the FX markets earlier this morning following the circulation of a rumor, since attributed to Goldman sales, that the FRBNY is preparing to slash its FX swap line with the ECB rate...
As usual getting Art Cashin's pragmatic take on something as important as the Fed's decision (which at this rate will need to be revised very soon), is quite a morning coffee, or for some, "fermentation", treat.
Make no mistake; while the characters and events in this story are products of imagination, the issues presented and their probable consequences are anything but fantasy.
As I have observed the mainstream media (MSM, to the cognoscenti) over the past few decades, I have noted a growing infatuation with the words moderate and extremist.
I've enjoyed teaching all of my online Mises Academy classes, but I have never been more excited than I am to teach the upcoming class Money, Monopoly, and Market Intervention.
When Julie Veilleux discovered she was American, she went to the nearest US embassy to renounce her citizenship.
This is not helping French bank stocks today. PIMCO's Mohammed El-Erian has a dramatic post up at FT on the various signs of trouble in French bank land.
Here’s a letter to The American Conservative:
The Telegraph reports that EU leaders generally agree that a Greek default is imminent but that Greece will not leave the euro.
Consumer credit increased at an annual rate of 6 percent in July 2011. Revolving credit decreased at an annual rate of 5-1/4 percent, while nonrevolving credit increased at an annual rate of 11-1/4 percent.
The prospect of Europe falling back into recession came a step closer Thursday following the latest batch of dire economic data.
The Dow Jones industrial average opened down nearly 3 percent after the Federal Reserve took steps Wednesday to help revive the economy. Here’s a look at the five biggest single-day gains and losses in the index’s history.
Stocks and commodities tumbled, Treasury 30-year yields dropped to a record and the Dollar Index climbed to a seven-month high amid concern central banks are running out of tools to prevent another recession.
The Federal Reserve took a dramatic step Wednesday to help revive the economy, resuming its unconventional efforts at stimulating growth nearly a year after embarking on an initiative that ultimately failed to deliver a healthy recovery.
The U.S. central bank is launching a program that will tilt its $2.85 trillion balance sheet more heavily toward longer-term securities, in an effort to boost a fragile economic recovery.