43,454,601,693,238 Reasons Why The World Is Broke - Presenting The Interactive Global Debt Clock
By now everyone has had a chance to play with the US debt clock.
But what about its global cousin? Courtesy of The Economist, we now
have a convenient way to track the hundreds of millions in dollars added
each and every hour by the global governments who see to spur global
deleveraging by, you guessed it, adding more debt. Yes, in the process
the world's sovereigns are transferring default risk away from global
corporations to sovereigns, but few in the #OWS
crowd appear to have yet figured out this rather disturbing and very
insidious usurpation of sovereignty by the global corporatocracy, so
said risk and leverage transfer will continue until such time as any
and all paper backed by these insolvent corporate shells (f/k/a
countries) is completely worthless. Regardless, one should not forget
that like in the sandalone case, the "debt clock" below only tracks on
balance sheet debt. Should one add the NPV of all "welfare state" obligations (pensions, retirement, healthcare), the number will be well over quarter of a quadrillion dollars. Have fun funding that, never mind paying it off...
Jim Sinclair’s Commentary
Four bank failures this week.
Bank Closing Information
October 14, 2011
These links contain useful information for the customers and vendors of these closed banks.
Country Bank, Aledo, IL
First State Bank, Cranford, NJ
Blue Ridge Savings Bank, Inc., Asheville, NC
Piedmont Community Bank, Gray, GA
http://www.fdic.gov/
(ed note) Oh...and did you know that the FDIC was still Bankrupt...
Hong Kong starts trading gold in renminbi
Financial repression means long-term inflation, steadily rising gold, Rickards says
December Deadline Won't Mark End of US Debt Fight
 |
Inevitability of a Crash Goes Mainstream.
A Greater Depression is coming.
Until fairly recently, much of the talk of truly serious economic problems has been in far from mainstream sources. The mainstream media has talked a bit about further recession, but I haven't seen a single article that clearly stated that it's coming and there's nothing we can do about it. That is until I saw this today, linked from The Wall Street Journal's web site.
Drowning in debt, EU hits moment of truth
South Carolina mine sparks mini-gold rush to the Southeast
Return To Gold Standard? Why Price Would Hit $10,000
Joblessness: An American Epidemic
Banks closed in Georgia, North Carolina, NJ; 79 failures in 2011.
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