Tucker Carlson writes about Ron Paul for the New Republic
Friday, December 21st, 2007 Posted in Economic News | No Comments »Tucker Carlson accompanied Ron Paul on a campaign swing through Nevada and was surprised by audience reactions. They stood five deep at the back of the room and listened politely as the candidate spoke. Until Paul got to the part about ...
Breaking phase ahead for the global financial system in 2008
Friday, December 21st, 2007 Posted in Economic News | No Comments »The rapid aggravation of the global systemic crisis as its phase of impact unfolds has brought our researchers to estimate that the contemporary global financial system will reach a breaking phase in the course of 2008. Crisis follow-up indicators now show ...
Housing, US Dollar, Gold, PPI and Inflation
Friday, December 21st, 2007 Posted in Economic News | No Comments »The current downturn in Housing, the worst since the Great Depression has along way to run, with home prices likely to experience downside pressure well into 2009. Overall, a 30% to 40% price decline in high end homes is needed ...
Marc Faber shares with us where to put your money
Friday, December 21st, 2007 Posted in Economic News | No Comments »The Daily Reckoning PRESENTS: It's been a pretty bumpy year for investors…and looking forward, Marc Faber shares with us where to put your money (and what to steer clear of) in 2008. Read on… The war between the Fed pumping money ...
Explosive Money Supply Fuels Global Inflation
Friday, December 21st, 2007 Posted in Economic News | No Comments »The worst is yet to come for the global banking system, which faces potential losses of more than half-trillion dollars from investments in toxic sub-prime US mortgage debt. "The problems in the financial sector remain with us," said Bank of ...
Print, Print, Print
Friday, December 21st, 2007 Posted in Economic News | 1 Comment »In case you missed this news, the European Central Bank yesterday created 348 billion euros. That's equal to about one-half trillion dollars. Presto! Like magic, one-half trillion dollars of so-called "liquidity" appeared out of thin air. It really isn't liquidity though. ...
U.S. Dollar’s Credibility Being ‘Stretched,’ UBS Economist Says
Friday, December 21st, 2007 Posted in Economic News | No Comments »The U.S. dollar's credibility as the world's benchmark currency will be put to the test as it loses value against other major currencies, said George Magnus, senior economic adviser at UBS Investment Bank in London. "We're clearly at a point where ...
Defaults to Quadruple as More Companies Cut to Junk
Friday, December 21st, 2007 Posted in Economic News | No Comments »U.S. corporate defaults probably will quadruple next year after the number of companies that lost their investment-grade credit ratings rose at the fastest pace since 2003. Moody's Investors Service predicts companies will default on 4.7 percent of their bonds in 2008 ...
Fatwa against the dollar?
Friday, December 21st, 2007 Posted in Economic News | No Comments »To all intents and purposes, the Wahabi religious establishment of Saudi Arabia has just issued a fatwa against the US dollar. This bears watching. A message issued by 26 leading clerics warns that inflation has reached intolerable levels in the Gulf ...
Morgan Stanley taps China for $5bn
Friday, December 21st, 2007 Posted in Economic News | No Comments »Morgan Stanley became the third top investment bank in a month to raise capital from a sovereign wealth fund after announcing higher-than-expected writedowns of $9.4bn (£4.7bn), due largely to subprime related losses. John Mack, chairman and chief executive, said the $5bn ...
Call to relax Basel banking rules
Monday, December 17th, 2007 Posted in Economic News | No Comments »The Government must suspend a set of key banking regulations at the heart of the current financial crisis or risk seeing the economy spiral towards a future that could "make 1929 look like a walk in the park", one of ...
Financial Statement of the Average American Household
Monday, December 17th, 2007 Posted in Economic News | No Comments »What the average American earns and spend, and owes.
Greenspan sees early signs of U.S. stagflation
Monday, December 17th, 2007 Posted in Economic News | 1 Comment »The U.S. economy is showing early signs of stagflation as growth threatens to stall while food and energy prices soar, former U.S. Federal Reserve Chairman Alan Greenspan said on Sunday. "We are beginning to get not stagflation, but the early symptoms ...
Schwarzenegger says he will declare fiscal emergency
Sunday, December 16th, 2007 Posted in Economic News | No Comments »Gov. Arnold Schwarzenegger says he will declare a "fiscal emergency" in January to give him and the legislature more power to deal with the state's growing deficit. ...California's budget deficit is far worse than economists predicted just a few weeks ago. ...
Buy yourself gold for portfolio protection?
Sunday, December 16th, 2007 Posted in Economic News | No Comments »Financial advisors often try to discourage clients from such investments, but some individuals consider the metal to be insurance against the U.S. dollar. Learn four common ways to invest, and the pros and cons of each. Gold is one holiday gift ...
Ron Paul takes flight
Saturday, December 15th, 2007 Posted in Economic News | No Comments »Get a real-time comparison of the December 16 money-bomb vs. the November 5 money bomb: http://ronpaulgraphs.com/dec_16_vs_nov_5_total.html Presidential candidate Ron Paul's blimp is in the air and he's traveling the country in a chartered jet. The Houston Chronicle reports he may end ...
U.S. Housing Crash Deepens in 2008 After Record Drop
Saturday, December 15th, 2007 Posted in Economic News | No Comments »For U.S. homeowners, builders, bankers and realtors, the crash of 2007 will only get worse in 2008. Everyone from mortgage-finance company Fannie Mae to Lehman Brothers Holdings Inc. expects declines next year. Existing home sales will drop 12 percent and existing ...
2008 outlook for currencies, stocks and commodities
Saturday, December 15th, 2007 Posted in Economic News | No Comments »Back in the summer of 1988 I was glomming around northern Virginia. My best friend worked at Mount Vernon Manor, George Washington's solid gold house, making and selling hamburgers. He explained to me that there had been a couple of ...
Greenspan: Recession Odds ‘Clearly Rising’
Saturday, December 15th, 2007 Posted in Economic News | No Comments »Global forces beyond the Federal Reserve's control helped fuel the bubble that led to the current housing meltdown, former Fed Chairman Alan Greenspan said Thursday. In an NPR interview, Greenspan also said that the odds of a recession are ...
Credit dries up as banks price in fear
Saturday, December 15th, 2007 Posted in Economic News | No Comments »THE second wave of the US sub-prime crisis yesterday caused a logjam in Australia's very short-term money market, as seasonal demand for cash out of the US and the liquidity squeeze triggered a surge in Australian rates. The yield for the ...
This is it!
Saturday, December 15th, 2007 Posted in Economic News | No Comments »So, cycles are predicting a major stock market crash this year. That is right, this year-2007. Gann wrote that when the time cycle was over there was nothing that anyone could do to alter the inevitable. President Bush, Secretary of ...
Fed, top central banks to flood markets with cash
Thursday, December 13th, 2007 Posted in Economic News | No Comments »New loan facility will push as much as $64 billion into credit markets The Federal Reserve and other top central banks will flood the financial system with as much as $64 billion in extra cash in the next few weeks in ...
Wealthy Russians invest in gold
Thursday, December 13th, 2007 Posted in Economic News | No Comments »Russia's wealthiest are piling into the bullion sector and eight of the country's 10 richest men are investing in gold. This week, OAO Severstal, the Russian steel maker owned and run by billionaire Alexei Mordashov, said most of London's Celtic Resources ...
Full steam ahead for commodities: Merrill
Thursday, December 13th, 2007 Posted in Economic News | No Comments »SUB-PRIME contagion, market volatility and concerns for a looming recession in the US won't derail the commodity supercycle, Merrill Lynch said in a report yesterday, upping its price forecast for base metals, coal and iron ore across the board. Annual contract ...
Warren Buffett Warning: Recession Possible
Thursday, December 13th, 2007 Posted in Economic News | No Comments »Warren Buffett Warning In CNBC Interview: Recession Possible If Unemployment Picks Up Significantly In a live interview this afternoon on CNBC with Hillary Clinton standing by his side, Warren Buffett again warned that the U.S. could fall into recession, if unemployment ...