Venezuelas Chavez calls for alliance with Russia
Tuesday, July 22nd, 2008 Posted in Economic News | No Comments »Venezuelan President Hugo Chavez, visiting Moscow to pursue weapons and energy deals, on Tuesday called for a strategic alliance with Russia to protect his country from the United States.
Never Have So Many Short Sellers Made So Much Money
Tuesday, July 22nd, 2008 Posted in Economic News | No Comments »Investors worldwide are betting more than $1 trillion on a collapse in stock prices.
The Coming Systemic Bust of the U.S. Banking System: Dead Stocks Rallying; by Nouriel Roubini
Tuesday, July 22nd, 2008 Posted in Economic News | No Comments »The poor consumer, he contends, is shopped out and being hammered by falling home prices, falling equity prices, falling jobs and incomes, rising inflation. The recession he anticipates will last 12 to 18 months.
Wachovia has $8.9B loss, cuts 6,350 jobs, dividend
Tuesday, July 22nd, 2008 Posted in Economic News | No Comments »Wachovia slashes dividend, jobs, to shut mortgage unit after $8.86B loss in second quarter
American Express Profit Falls on Higher Defaults
Tuesday, July 22nd, 2008 Posted in Economic News | No Comments »"We are seeing very affluent people who have had historically very, very strong spending history with us cutting back" "Unemployment rates took the largest jump in over twenty years. Home prices declined at the fastest rate in decades and ...
Faber Says Oil May Decline as Global Growth Weakens
Tuesday, July 22nd, 2008 Posted in Economic News | No Comments »said oil prices may fall to $100 a barrel as demand slows in a global economy at the "tail end'" of its expansion.
Toxic Waste Offerings to Offset Big Losses; by Bob Chapman
Monday, July 21st, 2008 Posted in Economic News | No Comments »All hell will break loose So take your positions now in gold and silver, or turn green with envy as the rest of us make magnificent profits. It may be now or never. After the elections, there ...
Nationalization, Fiasco, US Dollar, Gold; by Jim Willie
Sunday, July 20th, 2008 Posted in Economic News | No Comments »Reaction to systemic failure, orders for nationalization, and other desperate measures ensure the US Dollar will fall significantly, leading to gold rising toward 1500 and silver rising toward 40.
The global economy is at the point of maximum danger
Sunday, July 20th, 2008 Posted in Economic News | No Comments »The global currency system is breaking down. The policy doctrines that got us into this mess are bankrupt. No world leader seems able to discern the problem, let alone forge a solution.
DERIVATIVES, BANKS, AND BAILOUTS
Friday, July 18th, 2008 Posted in Economic News | No Comments »The U.S. dollar is in danger and will fall a lot in coming years. In our opinion, gold is the safest bet along with food stuffs and foreign currencies of well managed countries.
[Video] Peter Schiff on Double Digit Inflation
Friday, July 18th, 2008 Posted in Economic News | No Comments »Peter Schiff on Double Digit Inflation, Fox Business News
IMF warns global economy fragile
Friday, July 18th, 2008 Posted in Economic News | No Comments »The International Monetary Fund on Thursday revised up estimates it made in April for global growth this year and next, but coupled it with stern warnings that demand was slowing sharply in major industrial economies and inflation rising everywhere.
Ron Paul: *Some Big Events Are About To Occur*
Friday, July 18th, 2008 Posted in Economic News | No Comments »"The central banks of the world secretly collude to centrally plan the world economy. I'm convinced that agreements among central banks to "monetize" U.S. debt these past 15 years have existed, although secretly and out of the reach of ...
A Complete And Systemic Breakdown; by Bob Chapman
Thursday, July 17th, 2008 Posted in Economic News | No Comments »What you are witnessing is the acceleration of a complete systemic breakdown of the US and world financial systems and economies. It is happening right before your eyes. It is in your face.
Debt at $455,000 per U.S. household
Thursday, July 17th, 2008 Posted in Economic News | No Comments »with an astonishing $53 trillion in long-term liabilities, according to the GovernmentAccountability Office, put that number in human terms, the debt has reached $455,000 per U.S. household. As that debt grows, the United States increasingly relies on foreigners, including ...
Gold And Oil For Soros; Illiquidity At Merrill
Thursday, July 17th, 2008 Posted in Economic News | No Comments »Soros finally shorted oil at $137 a barrel and put on a long position in gold
U.S. reverses course, will send envoy to talks with Iran
Thursday, July 17th, 2008 Posted in Economic News | No Comments »The Bush administration has decided to break with previous policy by sending one of its most senior diplomats to engage Iran's top nuclear official, the White House announced Wednesday.
Gazprom signs major energy deal with Iran
Thursday, July 17th, 2008 Posted in Economic News | No Comments »Gazprom is the largest gas company in the world. Iran and Russian are determined to expand their cooperation in the oil and gas sectors.
THE FINANCIAL TSUNAMI, The Next Big Wave is Breaking
Thursday, July 17th, 2008 Posted in Economic News | 1 Comment »The financial Tsunami we are witnessing is a low-amplitude, long-wave phenomenon of trillions of dollars of financial securities being unwound, defaulted on, dumped on the market. But the scale of the latest wave to hit, the collapse of confidence ...
Kick starting the U.S. economy while its down
Wednesday, July 16th, 2008 Posted in Economic News | No Comments »Many economists have concluded that a second dose of government stimulus spending is required to prevent a broad economic unraveling in the United States and to provide relief to millions of Americans grappling with joblessness, plunging home prices and ...
Sovereign funds cut exposure to weak dollar
Wednesday, July 16th, 2008 Posted in Economic News | No Comments »Some of the worlds largest sovereign wealth funds are seeking to scale back their exposure to the US dollar in a sign of global concern about the currency.
Consumer prices surge in June at 2nd fastest pace in 26 years, reflecting soaring energy costs
Wednesday, July 16th, 2008 Posted in Economic News | No Comments »Consumer prices shot up in June at the second fastest pace in 26 years with two-thirds of the surge blamed on soaring energy prices. The Labor Department reported that consumer prices jumped 1.1 percent last month, much worse than had ...
Consider Physical Gold & Silver Now!
Wednesday, July 16th, 2008 Posted in Economic News | No Comments »Our nation may be on the cusp of economic catastrophe, call it a panic, a meltdown, an implosion; I don't care what you call it. But it's bad. And it's coming straight at you like a runaway bus.
Im the barn owl watching the mouse; by Richard Russell
Wednesday, July 16th, 2008 Posted in Economic News | No Comments »The ratio between the Dow and gold has hit a new low. Today, one share of the Dow will buy only 11.44 ounces of gold -- that's down from 43.75 ounces back in July 1999. In other words, since ...
Gas, diesel hit new records
Wednesday, July 16th, 2008 Posted in Economic News | No Comments »Average price of unleaded gasoline and diesel fuel reach new highs.