from End of The American Dream:
When most people think about America’s debt problem, they think of the debt of the federal government. But that is only part of the story. The sad truth is that debt slavery has become a way of life for tens of millions of American families. Over the past several decades, most Americans have willingly allowed themselves to become enslaved to debt. These days, most of us are busy either going into even more debt or paying off the debt that we have accumulated in the past. When your finances are dominated by debt, it makes it really hard to ever get ahead. Incredibly, 43 percent of all American families spend more than they earn each year. Even while median household income continues to decline (now less than $50,000 a year), median household debt continues to go up. According to the Federal Reserve, median household debt in America has risen to $75,600. Many Americans spend decades caught in the trap of debt slavery. Large numbers of them never even escape at all and die in debt. It can be a lot of fun to spend lots of money and go into lots of debt, but it can be absolutely soul crushing to toil and labor for years paying off those debts while making others wealthy in the process. Hopefully this article will inspire many people to try to escape the chains of debt slavery once and for all.
Read More @ EndOfTheAmericanDream.com
When most people think about America’s debt problem, they think of the debt of the federal government. But that is only part of the story. The sad truth is that debt slavery has become a way of life for tens of millions of American families. Over the past several decades, most Americans have willingly allowed themselves to become enslaved to debt. These days, most of us are busy either going into even more debt or paying off the debt that we have accumulated in the past. When your finances are dominated by debt, it makes it really hard to ever get ahead. Incredibly, 43 percent of all American families spend more than they earn each year. Even while median household income continues to decline (now less than $50,000 a year), median household debt continues to go up. According to the Federal Reserve, median household debt in America has risen to $75,600. Many Americans spend decades caught in the trap of debt slavery. Large numbers of them never even escape at all and die in debt. It can be a lot of fun to spend lots of money and go into lots of debt, but it can be absolutely soul crushing to toil and labor for years paying off those debts while making others wealthy in the process. Hopefully this article will inspire many people to try to escape the chains of debt slavery once and for all.
Read More @ EndOfTheAmericanDream.com
LAPD Launches Domestic ‘WAR ROOM’
“We are targets on our own soil,” says Beck. “We have to be ready.”
What began as a grass roots idea following the 9/11 terrorist attacks is now a state-of-the-art real-time analysis critical response center. It’s called RACR, and it’s located in the heart of downtown Los Angeles.
“This is a system that cuts through the red tape, that gets information to the people that need it,” says Chief Beck. He calls it “the brains of the department, twenty-four/seven.”
Read More @ losangeles.cbslocal.com
MF Global: Trail Growing Cold - 'No One to Blame"'
SBSS 11. The Three Demands of Silver
[Ed. Note: Part 1. Part 2. Part 3. Part 4. Part 5. Part 6. Part 7. Part 8. Part 9. Part 10. Part 11.]from TruthNeverTold:
SBSS 12. The Three Big Charts For Silver
[Ed. Note: Part 1. Part 2. Part 3. Part 4. Part 5. Part 6. Part 7. Part 8. Part 9. Part 10. Part 11.]from TruthNeverTold:
from WealthCycles:
Two men, Jim Chanos (left) and Jim Rogers (right), are both famous for being very right throughout their careers managing money. So how can they be diametrically opposed when considering the long-term prospects of Chinese growth?
Presently it appears that Chanos is winning the long-term growth bet. The Shanghai composite has dropped 50% from its 2008 high. It is important to know that Chanos runs a $6 billion dollar short fund, which successfully shorted Enron. He states that his fund starts with a top-down approach. He starts with a macro analysis and drills down into individual assets. Here is his slightly sarcastic take on our present state:
“[Stock promoters] find a different investment hype, a story, to get people excited. In the 1990s, it was the Internet, and now it’s China. Unbridled growth.”
Read More @ WealthCycles.com
Two men, Jim Chanos (left) and Jim Rogers (right), are both famous for being very right throughout their careers managing money. So how can they be diametrically opposed when considering the long-term prospects of Chinese growth?
Presently it appears that Chanos is winning the long-term growth bet. The Shanghai composite has dropped 50% from its 2008 high. It is important to know that Chanos runs a $6 billion dollar short fund, which successfully shorted Enron. He states that his fund starts with a top-down approach. He starts with a macro analysis and drills down into individual assets. Here is his slightly sarcastic take on our present state:
“[Stock promoters] find a different investment hype, a story, to get people excited. In the 1990s, it was the Internet, and now it’s China. Unbridled growth.”
Read More @ WealthCycles.com
Bank Of America Details The Mortgage Foreclosure Settlement
Most
people read the headlines (and heard Obama tell us) today that the
federal government and 49 state attorneys general reached a $25bn
agreement with the five largest mortgage servicers to address mortgage
loan servicing and foreclosure abuses. It seems that many people are
unclear on what the implications of the various aspects of the
settlement are and so we present Bank of America's concise summary of the costs, commitments, penalties, and scope of the long-awaited agreement. Theoretically this by no means closes the book on bank litigation liabilities, as BofA discusses, but we note very mixed performance post the settlement announcement
(which admittedly seemed well telegraphed) as WFC rallied modestly
(+0.2% from the 10amET announcement), with Citi (-1.2% from the
announcement), BofA (-0.85%), and JPM (-0.4%) underperforming.Infographic: Presenting A World Covered In (Hundred Dollar Bill) Debt
Our friends at Demonocracy have once again surpassed themselves, and have followed up the infographic showing
the truckloads of cash that are needed to rescue the insolvent PIIGS,
with this masterpiece which, while making the naive assumption that
debt is represented by physical paper (when it is nothing but a bunch
of electronic ones and zeros stored in various computers around the
world), presents in gloriously visual terms precisely what the literal
debt burden of the world's would look like expressed in piles of one
hundred dollar bills. The result is quite stunning...
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