Roubini And Milken Debate How Quickly The World Will Collapse


THEY’RE GOING TO BREAK UP THE BANKS


Jim Sinclair’s Commentary
33 states of the USA are headed for bankruptcy.
Ravitch: New York Deficit Could Swell to $15 Billion Next Year by Bob Hennelly
NEW YORK, NY April 29, 2010 —

New York’s $9.2 billion budget deficit is expected to balloon to $15 billion next year, according to Lt. Gov. Richard Ravitch.
Speaking to a midtown audience of real estate developers, Ravitch said he does not expect the state to reach a budget deal any time soon, despite the state’s desperate fiscal situation. The budget is nearly one month late and Ravitch says there are no external triggers forcing lawmakers and the governor to act.
"States can’t go into bankruptcy. They are not included in the bankruptcy code," he says.
Today’s outlook is different from the city’s fiscal crisis of the 1970s when the state couldn’t find any lenders. Instead, he says, bankers are circling Albany with tempting offers.
"The financial community is ready to lend the state all kinds of money. They have 20-odd schemes they are suggesting about how the state can borrow money," Ravitch says.
More…





Thought For The Day
The cost for a Greek bailout to the citizens of the US via the IMF will be $100 billion.
Now there is a nice addition to the Federal Budget Deficit.





Please take note, this information was on a Canadian news station...I have never heard this on a U.S. station...

Jay Taylor tells BNN about loss of confidence in fiat currencies





James Turk: Gold needed now more than ever





Gold Hits 2010 High as Debt Concerns Linger- CNBC





Harrisburg PA Misses 2nd Bond Payment- Wall Street Journal





This should be interesting...

China to Launch 24-Hr English News Network- USA Today





Debt Misery Fuels Gold's Appeal- MarketWatch





Puerto Rican Banking Crisis Is US Liability- NY Times


While the Greece Fire Spreads, a Trade War Begins


Era of paper assets may be winding down


Gold Investment Demand Stays Strong, Price Climbs as Markets Dive


Holy Cow! The US Treasury is Taking Donations to Pay Down the Debt


Fiscal Commission Opens to Federal Reserve Chief's Dire Warning on US Deficit


A word to the wise...
If you have any extra cash you don't need for daily living expences, buy 1 oz .999 pure silver rounds with it from your local coin shop. Do not give your name when buying and pay in cash only.
It is about the only way for the little guy to try and protect himself from the oncoming hyperinflation.





"What is a Communist? One who hath yearnings for equal division of unequal earnings. Idler or bungler, or both, he is willing to fork out his copper and pocket a shilling." - Ebenezer Elliott