Video Interview On Yahoo Finance
posted by HMS at Marc Faber Blog - 11 hours ago
"It's beyond repair - it's too late to avert fiscal disaster" "You have to slowly accumulate some gold" Marc Faber is an international investor known for his uncanny predictions of the stock market and fu...



James,Chris Wood, of CLSA and author of the Greed & Fear newsletter, was recently interviewed on CNBC and stated that the collapse of the Dollar would likely take place within five years. CNBC's Dennis Kneale, however, asserts that the Dollar is "self-healing", so that when the panic begins, "...suddenly people want to go into the Dollar, because the US Government is the most stable government on the planet". I had to rewind, because I couldn't believe what I had just heard.



This is precisely why looking to mainstream news sources as reliable conduits of factual information is so dangerous. If the USgovernment is the most stable government on the planet, then the world is in worse shape than I'd ever imagined. Cheers, - H.H.



British newspaper article: Detroit family homes sell for just $10


CNN Money offers a baker's dozen of articles about America's fiscal disaster.


States Facing Financial Doomsday as Debts Mount


New round of foreclosures threatens housing market



Iceland, the Mouse that Roared.



Jim Sinclair’s Commentary


The dollar is no safe haven.


U.S., U.K. Move Closer to Losing Rating, Moody’s Says (Update1) By Matthew Brown
March 15 (Bloomberg) —



The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service.
The governments of the two economies must balance bringing down their debt burdens without damaging growth by removing fiscal stimulus too quickly, Pierre Cailleteau, managing director of sovereign risk at Moody’s in London, said in a telephone interview.
Under the ratings company’s so-called baseline scenario, the U.S. will spend more on debt service as a percentage of revenue this year than any other top-rated country except the U.K., and will be the biggest spender from 2011 to 2013, Moody’s said today in a report.
“We expect the situation to further deteriorate in terms of the key ratings metrics before they start stabilizing,” Cailleteau said. “This story is not going to stop at the end of the year. There is inertia in the deterioration of credit metrics.”
The pound fell against the dollar and the euro for the first time in three days, depreciating 0.8 percent to $1.5090, while the dollar index snapped a four-day drop, adding 0.3 percent to 90.075.
More…



Jim Sinclair’s Commentary
There is a rule among thieves that if you steal, do it big enough so you can buy a dream team to get you off.
Click here to watch the video…





Jim Sinclair’s Commentary
This is but a start. Now the snowball meets gravity.
This is a creative way to cull the gene poll.


Still no money for Prichard pensioners City given two months to figure out payments Updated: Thursday, 11 Mar 2010, 3:12 PM CST Published : Tuesday, 09 Mar 2010, 9:38 PM CST
PRICHARD, Ala. (WALA) –



A bankruptcy court judge has given the City of Prichard two more months to figure out how they will pay retired city workers. Prichard pensioners have gone six months without a pension check.
Prichard is operating under the protection of Title IX Bankruptcy, and for many people, that means no promised pension payments.
After six months with no pay, Prichard pensioners put their faith into the courts. They hoped a judge would force the city to pay some, if not all, of the pension money it owes. However, the bankruptcy court judge said the city is not obligated to pay the retired workers just yet. The judge gave the city two more months to restructure the budget and present it to the courts.
The city got more time, but unfortunately reality has already set in for Bobby Holifield and his family.
"You can’t begin to know the stress of this. My daughter is in college right now, my son just graduated from high school, he wanted to go to college. My daughter had to miss last semester in college and she will have to miss this semester. I can’t afford to pay it. My son wants to go to technical school; I can’t afford to pay for it. It makes me feel like a failure more than anything, when I did my part. I worked 32 years to get my pension. They owe it to me, it’s not something I’m asking them to give me," Holifield said.
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Moody's to Fire "Warning Shot" on US AAA Rating- Financial Times


10% of Homeowners Not Paying Mortgages- Washington Post


Banks Face Mark-to-Market Reality- Wall Street Journal


For US Jobless, Time Not Healing Wounds- NY Times


Saving US Water & Sewer Systems Would Be Costly- NY Times


On Friday, Banks Shut in NY, FL, LA; 2010 Total to 30- Associated Press


Retired and Broke: How to Move Forward- Wall Street Journal




"Are you where you want to be if it doesn’t work?" - Novelist Louis L’Amour (1908-1988)