Did The Philly Fed Just Signal The End Of Obama's 'Jobs' Recovery?
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from The Economic Collapse Blog:
The U.S. economy is in a massive amount of trouble. There aren’t
enough jobs. There isn’t enough money to go around. Business activity
is slowing down again. Household wealth has been falling. Food prices
have been rising. Many state and local governments all over the country
are flat broke and are drowning in debt. The federal government has
been rolling up unprecedented amounts of debt
in an attempt to keep things going, but everyone knows that kind of
borrowing is simply unsustainable. So where do we go from here? We
consume far more than we produce and we use debt to make up the
difference. 40 years ago the total amount of debt in America
(government, business and consumer) was less than 2 trillion dollars. Today it is nearly 55 trillion dollars.
How in the world did we let the total amount of debt in the United
States grow more than 27 times larger over the past 40 years? Our
economic system is fundamentally broken, but most Americans don’t
realize it yet because times are still relatively good.
Read More @ TheEconomicCollpaseBlog.com
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Read More @ TheEconomicCollpaseBlog.com
from KingWorldNews:
With continued uncertainty in global markets, the Godfather of
newsletter writers, Richard Russell, issued the following warning: “This
is the time to cut back on needless expenses — get rid of all the debt
you can, and prepare for tough times. I don’t like the utter calm and
complacency that I see today. The last few generations can’t conceive
of drastic changes and hard times.”
“Deluxe restaurants are still full at dinner time, and people are still taking their families to expensive, fun places like Disneyland. The only real signs of change are the ‘sale’ and ‘for rent’ signs that seem to be everywhere. This bear market is going to be for the long haul and it may be six months to a year before it dawns on people that the times are changing.
I think this bear market is going to creep up on us silently, stealthily and subtly. If this is a bear market, I’d rather not see it, because it could be a monster.
Richard Russell continues @ KingWorldNews.com
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“Deluxe restaurants are still full at dinner time, and people are still taking their families to expensive, fun places like Disneyland. The only real signs of change are the ‘sale’ and ‘for rent’ signs that seem to be everywhere. This bear market is going to be for the long haul and it may be six months to a year before it dawns on people that the times are changing.
I think this bear market is going to creep up on us silently, stealthily and subtly. If this is a bear market, I’d rather not see it, because it could be a monster.
Richard Russell continues @ KingWorldNews.com
from Off Grid Survival:
Another
shadowy executive order was released last week from the White House —
this one gives the President the power to effectively shut down or seize
control of all private communications — and has many worried about its
implications, especially with respect to the Internet.
Over the last week, the Internet has been buzzing with rumors of how these executive orders and military actions — like the administrations extension of the National Emergencies Act; the increasing number of large urban war drills in Chicago, Miami, Los Angeles , and Tampa; and the National Defense Resources Preparedness Order — are preparing the government for the possibility of a major civil uprising around election time.
Read More @ OffGridSurvival.com
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Over the last week, the Internet has been buzzing with rumors of how these executive orders and military actions — like the administrations extension of the National Emergencies Act; the increasing number of large urban war drills in Chicago, Miami, Los Angeles , and Tampa; and the National Defense Resources Preparedness Order — are preparing the government for the possibility of a major civil uprising around election time.
Read More @ OffGridSurvival.com
As The US Drought Spreads To India, Will The Black Swan Be Deep Fried
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We've Decoupled, Alright - From Reality
In the U.S. economy, the driplines are debt-based spending and leverage. Thanks to endless intervention and manipulation, the economy is now totally dependent on massive debt-based spending and increased leverage for its "growth." The person or business that becomes dependent on welfare loses resiliency and resourcefulness. To the degree that economies become dependent on debt and leverage just like individuals and companies become dependent on welfare, entire economies lose their resilience and resourcefulness. A healthy forest offers another apt analogy. A healthy temperate-region forest depends on occasional forest fires to clear out deadwood and refertilize the depleted soil with ashes. In suppressing all fires--what we might call "stress" and feedback-- management virtually guaranteed that when the forest was eventually set ablaze by a random lightning strike, the resulting fire would be catastrophic because the deadwood had been allowed to pile far higher than Nature would have allowed. The "managers" of the economy have let a couple hundred billion dollars in bad debt burn, and they think the $15 trillion economy is now restored to health. Writing off a couple hundred billion is like letting a few acres of grassland around the parking lot burn and reckoning you've cleared the entire forest of deadwood. The buildup of deadwood--fraud, impaired debt, leverage, bogus accounting, malinvestments, promises that cannot possibly be met and the multiple pathologies of crony capitalism--continues apace, untouched by Federal Reserve intervention. Masking risk and suppressing feedback do not restore resiliency or vitality; they cripple the system's ability to respond to reality.Video: I Do Not Pay Attention To What Bernanke Says
Admin at Jim Rogers Blog - 55 minutes ago
Latest video interview.
*Jim Rogers is an author, financial commentator and successful
international investor. He has been frequently featured in Time, The New
York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The
Financial Times and is a regular guest on Bloomberg and CNBC.*
Tricks Of The Trade: Trends
Admin at Jim Rogers Blog - 1 hour ago
“Maybe the trend is your friend for a few minutes in Chicago, but for the
most part it is rarely a way to get rich” - in Brainy Quote
*Jim Rogers is an author, financial commentator and successful
international investor. He has been frequently featured in Time, The New
York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The
Financial Times and is a regular guest on Bloomberg and CNBC.*
U.S. Public-Pension Shortfall $4.6 Trillion, Group Says
Eric De Groot at Eric De Groot - 1 hour ago
The public is starting to realize that they're screwed. There’s no way
infinite liquidity can boost real returns enough to prevent the inevitable
standard of living reduction for nearly all wage-earning Americans. There
will be exceptions, but tax-the-rich policies designed to close the
ever-growing fiscal gap will only change the definition of who's
considered...
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content, and more! ]]
Tim Noah: The Great Divergence
Presenting The Metronomic US-Open To EU-Close EURUSD Dip-And-Rip
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by Annalyn Censky, GATA:
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Rep. Paul, a Republican from Texas and author of “End the Fed,” has been trying for years to pass a law that would give Congress the ability to examine the central bank’s decision-making process.
Now he’s closer than ever before, after his colleagues voted last month to finally take up his bill on the House floor. The vote is expected to happen next week.
It’s important, though, not to confuse the aim of the bill with a financial audit. The Federal Reserve’s finances are already audited every year by an independent accounting firm. (Last year it was Deloitte and Touche.) The central bank also publishes its balance sheet every Thursday online.
Read More @ GATA.org
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Wealth creators produce jobs from engaging in such exchanges, mutually beneficial trade or commerce. If my neighbor hires my child to mow his lawn, he gets a mowed lawn and my child receives a few bucks in compensation. My child also may be said to be employed – in a small way. Thousands of such exchanges, from tiny to huge, constitute the free market. And they create wealth, various economic benefits and advantages for all those engaged in them and this is also where jobs are born! People aim to prosper by improving on their lives through the upkeep of their household, their businesses, their health and fitness, their recreation and so forth. All of these involve creating jobs. The wealth produced – incomes, return on investments, profits and the like – enable people to go shopping for goods and services. And so it goes, around and around, wealth creation leading to job creation.
Read More @ TheDailyBell.com
Mass Protests Against Mexican FRAUDULENT Election Results
from The Real News:
Hmmm, there seems to be an election fraud theme worldwide… Isn’t this exactly what happened to Dr. Ron Paul? But where is the organized outrage?
from The Real News:
Hmmm, there seems to be an election fraud theme worldwide… Isn’t this exactly what happened to Dr. Ron Paul? But where is the organized outrage?
by Adrian Ash, Gold Seek:
Even paying July/August’s top price for gold has averaged 5.1% returns by New Year’s since 1968…
IT’S A HARDY perennial for anyone studying the gold market. And with the British summer being more like November this year, very hardy perennials are just what is needed.
But will the gold price blossom on schedule?
Greener than George Monbiot’s socks, we’re happy to recycle this fact yet again. The gold price tends to display a seasonal pattern – rising in spring, slipping or flat-lining in summer, only to rise once more in the fall and then winter.
No, the pattern was shot in 2011 as we noted last July. But such profitable “summer sales” have occurred most frequently during longer-term bull phases, as we told the Financial Times in 2009.
For Dollar investors, buying gold even at the highest price in July or August has only failed three times to deliver a gain by year’s-end since this bull market began in 2001 (extending a pattern we noted in 2010. Lehman’s collapse threw 2008 out of sync). Indeed, buying gold regardless of price in July or August has paid off 20 times in the last 44 years all told – and delivered an average 5.1% profit even with the losses included.
Read More @ GoldSeek.com
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IT’S A HARDY perennial for anyone studying the gold market. And with the British summer being more like November this year, very hardy perennials are just what is needed.
But will the gold price blossom on schedule?
Greener than George Monbiot’s socks, we’re happy to recycle this fact yet again. The gold price tends to display a seasonal pattern – rising in spring, slipping or flat-lining in summer, only to rise once more in the fall and then winter.
No, the pattern was shot in 2011 as we noted last July. But such profitable “summer sales” have occurred most frequently during longer-term bull phases, as we told the Financial Times in 2009.
For Dollar investors, buying gold even at the highest price in July or August has only failed three times to deliver a gain by year’s-end since this bull market began in 2001 (extending a pattern we noted in 2010. Lehman’s collapse threw 2008 out of sync). Indeed, buying gold regardless of price in July or August has paid off 20 times in the last 44 years all told – and delivered an average 5.1% profit even with the losses included.
Read More @ GoldSeek.com
from RTAmerica:
Officers with the San Francisco Police Department in Northern California shot a man believed to have a knife this morning, but eyewitnesses report that the victim was in handcuffs while the authorities opened fire.
Officers with the San Francisco Police Department in Northern California shot a man believed to have a knife this morning, but eyewitnesses report that the victim was in handcuffs while the authorities opened fire.
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We The Sheeplez... is intended to reflect
excellence in effort and content. Donations will help maintain this goal
and defray the operational costs. Paypal, a leading provider of secure
online money transfers, will handle the donations. Thank you for your
contribution.
by Gary North, The Market Oracle:
If this were a law firm, you would be wise to hire another.
I define puttering as follows: “Unsystematic work that fills time without accomplishing much output.” I define frittering as follows: “The refusal to take advantage of opportunities that have been placed in your hand.”
I have known some very successful people over the years. Some have been rich. Others have been influential. All of them have had this in common. They have not puttered. They have also not frittered.
PERFECTION VS. PARETO’S LAW
Vilfredo Pareto in 1897 reported on land ownership in several European nations. About 20% of the inhabitants owned 80% of the land. Over the last century, investigators in many fields have noticed a similar distribution. About 20% of the officers in a police force make 80% of the arrests. About 20% of the clients of a company produce about 80% of the profits.
A man I knew who worked for a midwestern bank had as his job the identification of these 20%, and then the development of services to get them committed to the bank. The bank did not want to lose them. Every bank since 1897 should have hired someone to do this. Yet his position was unique. It had not existed before the late 1990s.
Read More @ TheMarketOracle.co.uk
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I define puttering as follows: “Unsystematic work that fills time without accomplishing much output.” I define frittering as follows: “The refusal to take advantage of opportunities that have been placed in your hand.”
I have known some very successful people over the years. Some have been rich. Others have been influential. All of them have had this in common. They have not puttered. They have also not frittered.
PERFECTION VS. PARETO’S LAW
Vilfredo Pareto in 1897 reported on land ownership in several European nations. About 20% of the inhabitants owned 80% of the land. Over the last century, investigators in many fields have noticed a similar distribution. About 20% of the officers in a police force make 80% of the arrests. About 20% of the clients of a company produce about 80% of the profits.
A man I knew who worked for a midwestern bank had as his job the identification of these 20%, and then the development of services to get them committed to the bank. The bank did not want to lose them. Every bank since 1897 should have hired someone to do this. Yet his position was unique. It had not existed before the late 1990s.
Read More @ TheMarketOracle.co.uk
from Fox News:
Sometime later this week, the UN will finally unveil its Arms Trade Treaty. The exact date the treaty will be released is a secret.
Russia, China, France — with its new Socialist government — Britain and the Obama administration are writing the treaty behind closed doors. Yet even if the final treaty is being kept under wraps, we still have a pretty good idea of some of the requirements that will be in it.
The group writing the treaty is not promising. Russia and Britain ban handguns and many other types of weapons. The possession of guns for self-defense is completely prohibited in China. The Obama administration is undoubtedly the most hostile administration to gun ownership
in US history, with Obama having personally supported bans
of handguns and semi-automatic weapons before becoming president. And
remember the recent scandal where the Obama administration was caught
allowing guns go to Mexican drug gangs, hoping it would help push for gun control laws.
The treaty seems unlikely to ever receive the two-thirds majority necessary to be ratified by the US Senate, but that doesn’t mean it still won’t have consequences for Americans. In other countries with parliamentary systems, even if the relatively conservative parties oppose approval, ratification is just a matter of time until a left-wing government takes power. Reduced private gun ownership around the world will surely lead to more pressure for gun control in our own country.
Read More @ FoxNews.com
from TheAlexJonesChannel :
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Sometime later this week, the UN will finally unveil its Arms Trade Treaty. The exact date the treaty will be released is a secret.
Russia, China, France — with its new Socialist government — Britain and the Obama administration are writing the treaty behind closed doors. Yet even if the final treaty is being kept under wraps, we still have a pretty good idea of some of the requirements that will be in it.
The group writing the treaty is not promising. Russia and Britain ban handguns and many other types of weapons. The possession of guns for self-defense is completely prohibited in China. The Obama administration is undoubtedly the most hostile administration to gun ownership
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The treaty seems unlikely to ever receive the two-thirds majority necessary to be ratified by the US Senate, but that doesn’t mean it still won’t have consequences for Americans. In other countries with parliamentary systems, even if the relatively conservative parties oppose approval, ratification is just a matter of time until a left-wing government takes power. Reduced private gun ownership around the world will surely lead to more pressure for gun control in our own country.
Read More @ FoxNews.com
from TheAlexJonesChannel :
by John R Ing, Financial Sense:
Two forces collided head-on. Hundreds of people spent more than 30
years looking for the answer. The Higgs boson discovery? No, gold. After
experimenting with fiat currencies, this flawed premise has collided
with an equally bigger truth: Gold is finite, paper isn’t. Bankers now
lie, even governments lie, and politicians always lie. Gold tells the
truth. Gold is on the first step towards remonetization. Gold is money,
it is a currency. Without gold to bind the system together we believe,
like the Higgs boson, the financial universe will fall apart.
With the highest deficits since World War II, Mr. Obama and the Federal Reserve proved particularly adept at printing, borrowing and spending money creating one of the biggest financial bubbles ever. And the implications of the Fed’s promise to keep interest rates ultra-low by extending “Operation Twist” (QEII ½) is a tidal wave of liquidity with money created out of thin air. Since 2008, the Fed expanded its balance sheet by 250 percent with nearly $2 trillion worth of toxic securities. After two rounds of quantitative easing, debt to GDP stands at 100 percent and deficits run at 9 percent GDP. And as in late 2008, the Fed’s decision to keep Maison interest rates artificially low has caused short term stock market volatility, runs on sovereign debts, bank bailouts and a dash for cash.
Read More @ Financial Sense.com
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With the highest deficits since World War II, Mr. Obama and the Federal Reserve proved particularly adept at printing, borrowing and spending money creating one of the biggest financial bubbles ever. And the implications of the Fed’s promise to keep interest rates ultra-low by extending “Operation Twist” (QEII ½) is a tidal wave of liquidity with money created out of thin air. Since 2008, the Fed expanded its balance sheet by 250 percent with nearly $2 trillion worth of toxic securities. After two rounds of quantitative easing, debt to GDP stands at 100 percent and deficits run at 9 percent GDP. And as in late 2008, the Fed’s decision to keep Maison interest rates artificially low has caused short term stock market volatility, runs on sovereign debts, bank bailouts and a dash for cash.
Read More @ Financial Sense.com
By Joel Bowman, Daily Reckoning.com.au:
Tell me sir, “yes” or “no,” have you stopped beating your wife?
Of the myriad rhetorical tools employed in public discourse today, there are dangerous few more insidious than the false dilemma. Little surprise then that, as the [US] election season circus rolls into towns across the country, this Weapon of Dialectic Destruction (WDD) finds itself a favorite of slick politicians working to curry favor with an increasingly ovine voter mass.
Simply put, the false dilemma is a sly trick of exclusion whereby a speaker (always generously) offers his or her audience the apparently favorable choice between two unfortunately poor options.
“With which horn do you wish to be gored?”
Fed Chairman Ben Bernanke furnished an infamous example when he told a hastily convened meeting in the conference room of then-House Speaker, the permanently-startled Nancy Pelosi:
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Tell me sir, “yes” or “no,” have you stopped beating your wife?
Of the myriad rhetorical tools employed in public discourse today, there are dangerous few more insidious than the false dilemma. Little surprise then that, as the [US] election season circus rolls into towns across the country, this Weapon of Dialectic Destruction (WDD) finds itself a favorite of slick politicians working to curry favor with an increasingly ovine voter mass.
Simply put, the false dilemma is a sly trick of exclusion whereby a speaker (always generously) offers his or her audience the apparently favorable choice between two unfortunately poor options.
“With which horn do you wish to be gored?”
Fed Chairman Ben Bernanke furnished an infamous example when he told a hastily convened meeting in the conference room of then-House Speaker, the permanently-startled Nancy Pelosi:
“If we don’t do this [enact TARP legislation], we might not have an economy on Monday.”Read More @ DailyReckoning.com.au
by Alasdair Macleod, Peak Prosperity:
There was yet another European Union summit at the end of June, which
(like all the others) was little more than bluff. Read the official communiqué
and you will discover that there were some fine words and intentions,
but not a lot actually happened. However, there are some differences
when compared with past meetings that need explaining:
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- The European Council is being asked to consider permitting the European Central Bank to have a regulatory role alongside national central banks “as a matter of urgency by the end of 2012.” When this new super-regulator is eventually established, perhaps the ECB might be able to recapitalize banks directly. This was needed three years ago; the Eurozone will be lucky not to have a new banking crisis in the next few months, let alone by the year-end.
- A bail-out for Spain’s banks is agreed in principle, but it is to be funded by the European Financial Stability Facility (EFSF) until the European Stability Mechanism (ESM) is up and running. The EFSF has no money and relies on drawing down funds from all member states including Greece, Spain, Italy, Ireland, and Portugal, and the chances of the ESM being ratified by the individual Eurozone parliaments is very slim. We are told that Spain’s banks need about €100bn, but how much they really need is not known.
- The ESM will not rank as a prior creditor to the disadvantage of bond holders. This is a positive step, but makes it more difficult for national parliaments to authorize the ESM. Read More @ PeakProsperity.com
from Gains Pains & Capital:
Since
November 2011, I’ve been saying that Germany will leave the Euro, but
NOT necessarily the EU. The reason? Well, for one thing Germany laid out
legislation that would allow this happen. Then of course you have the
following comments from Germany’s finance minister Wolfgang Schauble:
Read More @ GainsPainsCapital.com
Hopefully all remember my proclamamtions on the FIRE sector and France suffereing from Italian exposure. I also warned on Italy itself, two year ago (subscribers reference Italy public finances projection). Thus, in today’s news…
Moody’s downgrades three major Italian insurers:
Today’s AM fix was USD 1,580.00, EUR 1,287.06, and GBP 1,009.33 per ounce.
Yesterday’s AM fix was USD 1,579.50, EUR 1,288.65 and GBP 1,012.57 per ounce.
Silver is trading at $27.55/oz, €22.51/oz and £17.54/oz. Platinum is trading at $1,429.20/oz, palladium at $580.80/oz and rhodium at $1,190/oz.
Gold dropped $4.40 or 0.28% in New York yesterday and closed at $1,577.70/oz. Gold investors in Asia bought on the dip pushing gold over $1,580/oz to $1,584/oz, then it dropped off and hovers at $1,580/oz at the open of European trading.
Gold has gained this morning after two straight days of Bernanke testimony related slight losses and gold is testing resistance at the 50-day moving average at $1,586/oz.
US economic data showed the job market is still slow and the results of groundbreaking on new US homes rose in June at its fastest pace in the last 3 years, which saw risk appetite increase.
Today US unemployment claims are at 1230 and existing home sales at 1400.
Yesterday’s comments from German Chancellor Angela Merkel sent the euro down and reignited Eurozone fears. “We have not yet shaped the European project so that we can be sure that everything will turn out well, we still have work to do,” Merkel was quoted in a media report as saying. Spanish bond yields are hovering near 7% again.
Read More @ GoldCore.com
“We are in a computer generated dream world . . . because everything is rigged.” That’s what Ron Hera of Heraresearch.com said this week when interviewed about living in an age he calls “The end of cheap everything.” The system isn’t going to collapse, it already has. Hera says, “I think the system failed in 2008, and we are essentially living on borrowed time.” As far as the Libor rate rigging fraud, Hera says, “Workers, savers and taxpayers will pay for Libor rate rigging.”
He adds, “There is no end in sight to this crime wave . . . “They will ultimately print the money to paper over the problems,” for the too big to fail banks. Count on inflation. Join Greg Hunter as he goes One-on-One with Ron Hera.
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Wolfgang Schauble admits euro bail-out fund won’t halt crisis:This was a pretty strong admission from the finance minister of the country that Europe looks to as a financial backstop. It was made back in November 2011. And the following is even more disconcerting for the future of the Euro.
“Europe’s “big bazooka” bail-out fund is not ready and won’t stem the debt crisis that on Tuesday pounded Italy and the European Central Bank (ECB), admitted Wolfgang Schauble, Germany’s finance minister.”
Read More @ GainsPainsCapital.com
by Reggie Middleton, BoomBustBlog.com:
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Moody’s downgrades three major Italian insurers:
(Reuters) – Moody’s lowered the credit
rating of three major Italian insurers on Tuesday, piling more pressure
on the euro zone’s third largest economy after a string of downgrades
on Monday and a sovereign downgrade last week.
Italy’s largest domestic insurer
Generali Assicurazioni and its subsidiaries were lowered to Baa1, while
Unipol Assicurazioni, and Allianz Spa had ratings cut by two notches
each.
“The downgrade of Generali reflects
the insurer’s direct exposure to Italian sovereign risk in terms of both
investment portfolio and business profile,” Moody’s said in a
statement.
By the end of 2011, Italian government
bonds represented 19 percent or 46 billion euros ($56.18 billion) of
Generali’s total fixed-income portfolio, or 253 percent of shareholders’
equity, according to the statement.
Government bonds constituted 47
percent of the fixed income portfolio of Unipol Assicurazioni with 222
percent of shareholders’ equity.
All the institutions mentioned in the statement were given negative outlooks.
Read More @ BoomBustBlog.com
from GoldCore:
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Yesterday’s AM fix was USD 1,579.50, EUR 1,288.65 and GBP 1,012.57 per ounce.
Silver is trading at $27.55/oz, €22.51/oz and £17.54/oz. Platinum is trading at $1,429.20/oz, palladium at $580.80/oz and rhodium at $1,190/oz.
Gold dropped $4.40 or 0.28% in New York yesterday and closed at $1,577.70/oz. Gold investors in Asia bought on the dip pushing gold over $1,580/oz to $1,584/oz, then it dropped off and hovers at $1,580/oz at the open of European trading.
Gold has gained this morning after two straight days of Bernanke testimony related slight losses and gold is testing resistance at the 50-day moving average at $1,586/oz.
US economic data showed the job market is still slow and the results of groundbreaking on new US homes rose in June at its fastest pace in the last 3 years, which saw risk appetite increase.
Today US unemployment claims are at 1230 and existing home sales at 1400.
Yesterday’s comments from German Chancellor Angela Merkel sent the euro down and reignited Eurozone fears. “We have not yet shaped the European project so that we can be sure that everything will turn out well, we still have work to do,” Merkel was quoted in a media report as saying. Spanish bond yields are hovering near 7% again.
Read More @ GoldCore.com
by Greg Hunter, USAWatchdog:
“We are in a computer generated dream world . . . because everything is rigged.” That’s what Ron Hera of Heraresearch.com said this week when interviewed about living in an age he calls “The end of cheap everything.” The system isn’t going to collapse, it already has. Hera says, “I think the system failed in 2008, and we are essentially living on borrowed time.” As far as the Libor rate rigging fraud, Hera says, “Workers, savers and taxpayers will pay for Libor rate rigging.”
He adds, “There is no end in sight to this crime wave . . . “They will ultimately print the money to paper over the problems,” for the too big to fail banks. Count on inflation. Join Greg Hunter as he goes One-on-One with Ron Hera.
from KingWorldNews:
Today Peter Schiff stunned King World News by speaking about his
single greatest fear. Schiff, who is CEO of Europacific Capital, gave
an extraordinarily candid interview. Here is what Schiff had to say: “My
biggest worry is that capitalism and the free markets will get the
blame when it really hits the fan. When we get the real crash and
everything implodes, and it’s really Armageddon style collapse, my fear
(again) is that capitalism and free markets take the blame for problems
that were created by government.”
LISTEN NOW @ KingWorldNews.com
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LISTEN NOW @ KingWorldNews.com
by Stephen Lendman, SJLendman.Blogspot.com:
In past decades, many US municipalities declared bankruptcy. Since
1981, 42 cases were filed. Ten came in the past four years.
Given hard times getting harder, what’s happening now is unprecedented since the Great Depression.
Cities occasionally declare bankruptcy. In America, they’re coming more often. Others in dire financial straits may follow.
San Bernardino, CA is the latest. On July 11, The New York Times headlined “Third City In California Votes to Seek Bankruptcy,” saying:
Officials have no choice. They can’t meet payroll obligations through summer.
“Faced with a budget shortfall of $45 million and city coffers that have already been drained, the San Bernardino City Council voted on Tuesday to file for bankruptcy.”
Interim city manager Andrea Travis-Miller said:
“I am concerned about our ability to make payroll, not only in the next 30 days but also in the next 60 to 90 days. A major restructuring of this organization is needed.”
Read More @ SJLendman.Blogspot.com
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Given hard times getting harder, what’s happening now is unprecedented since the Great Depression.
Cities occasionally declare bankruptcy. In America, they’re coming more often. Others in dire financial straits may follow.
San Bernardino, CA is the latest. On July 11, The New York Times headlined “Third City In California Votes to Seek Bankruptcy,” saying:
Officials have no choice. They can’t meet payroll obligations through summer.
“Faced with a budget shortfall of $45 million and city coffers that have already been drained, the San Bernardino City Council voted on Tuesday to file for bankruptcy.”
Interim city manager Andrea Travis-Miller said:
“I am concerned about our ability to make payroll, not only in the next 30 days but also in the next 60 to 90 days. A major restructuring of this organization is needed.”
Read More @ SJLendman.Blogspot.com
from End of the American Dream:
Have you ever wondered why things have been going so badly for the
United States in recent years? Our economy is falling apart, we have
been plagued with heat, drought and endless natural disasters, our
cities are absolutely crumbling, we just keep getting involved in even
more wars and Americans are more anxious and more overweight than ever
before. So why are so many bad things happening to America? Why do we
lead the world in so many bad categories? Why does nothing seem to be
going right? Are we under some kind of a curse? It is almost as if we
have entered a “perfect storm” that just keeps getting worse. In the
old days it would seem like something bad would happen to the United
States every once in a while, but now massive problems seem to be
hitting us in rapid fire fashion. At this point, many Americans have
“crisis fatigue” because our problems never seem to end. Each new
crisis just seems to overlap with all of the other problems that are
still going on. So why is this happening, and what is our country going
to look like if our problems continue to multiply at this rate?
Read More @ EndoftheAmericanDream.com
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Read More @ EndoftheAmericanDream.com
from PeterSantilliTV:
Pete interviews the Lead Investigator of Maricopa County Sheriff Arpaio’s Cold Case Posse Mike Zullo. Mr. Zullo presented the finding of his year long investigation into the fraudulent birth certificate document published by Barack Obama on WhiteHouse.gov. In this interview, Mr. Zullo reveals more shocking revelations, facts, and details about his investigation, and also announces that the investigation is still ongoing.
MUST-HEAR AUDIO: Pete contacts CBS reporter Morgan Loew and grills him regarding his failure to perform his journalistic duties at Sheriff Arpaio’s press conference. Santilli theorizes and accuses the CBS reporter of being part of a grander conspiracy to conceal the truth about the facts surrounding the Obama fraud case by asking dumb questions which drown out the facts. Mr. Loew refused to disclose that he did not report the facts presented in the press conference to his viewers.
from crabbydogtrix:Pete interviews the Lead Investigator of Maricopa County Sheriff Arpaio’s Cold Case Posse Mike Zullo. Mr. Zullo presented the finding of his year long investigation into the fraudulent birth certificate document published by Barack Obama on WhiteHouse.gov. In this interview, Mr. Zullo reveals more shocking revelations, facts, and details about his investigation, and also announces that the investigation is still ongoing.
MUST-HEAR AUDIO: Pete contacts CBS reporter Morgan Loew and grills him regarding his failure to perform his journalistic duties at Sheriff Arpaio’s press conference. Santilli theorizes and accuses the CBS reporter of being part of a grander conspiracy to conceal the truth about the facts surrounding the Obama fraud case by asking dumb questions which drown out the facts. Mr. Loew refused to disclose that he did not report the facts presented in the press conference to his viewers.
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We The Sheeplez... is intended to reflect
excellence in effort and content. Donations will help maintain this goal
and defray the operational costs. Paypal, a leading provider of secure
online money transfers, will handle the donations. Thank you for your
contribution.
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