Massive $17 Trillion Hole Found In Obamacare
Two years ago, when introducing then promptly enacting Obamacare, the president stated that healthcare law reform would not cost a penny over $1 trillion ($900 billion to be precise), and that it would not add ‘one dime’ to the debt. It appears that this estimate may have been slightly optimistic… by a factor of 1700%. Because coincident with the recent Supreme Court debacle, in which a constitutional law president may be about to find that his magnum opus law is, in fact, unconstitutional, someone actually read the whole thing cover to cover, instead of merely relying on the CBO’s, pardon Morgan Stanley and Goldman Sachs’, funding estimates. That someone is Republican Jeff Sessions who after actually running the numbers has uncovered that the true long-term funding gap is a mind-boggling $17 trillion, just a tad more than the original sub $1 trillion forecast. This latest revelation means that total underfunded US welfare liabilities: Medicare, Medicaid and social security now amount to $99 trillion! Add to this total US debt which in 2 months will be $16 trillion, and one can see why Japan, which is about to breach 1 quadrillion in total debt (yen, but who's counting), may want to start looking in the rearview mirror for up and comer competitors. And while Obama may have been taking creative license with a number that is greater than total US GDP, he was most certainly correct when saying that Obamacare would not add a penny to US debt. Because the second the US government comes to market to fund a true total debt/GDP ratio of 750%, it is game over, and the Fed will have its hands full selling Treasury puts every waking nanosecond to have any time left for the daily 3pm stock market ramp.
Please click on the following link to listen in to my regular weekly radio interview with Eric King on the KWN Weekly Metals Wrap. *http://tinyurl.com/6mhsjvf*
"Even
Wile E. Coyote had to come back down to earth sooner or later",
says Charles Biderman, founder of TrimTabs Investment Research. In his
opinion, the prices of stocks and bonds - enabled by excessive
financialization of our economy and central bank money printing - have
been defying gravity for a dangerously long time. If we continue to do
all we can to preserve the status quo -- to maintain "phony" asset
price levels as Charles calls them -- at best we will restrict overall
growth and handicap the economy. The problem isn't so much the
unfairness and malinvestment evident in a rigged market. As Charles
shrewdly asks: what happens when the market becomes un-rigged?
We've never experienced the unwinding of an entirely manipulated
financial system, so we can't predict for sure. But at this point, a
painful collapse of our markets and loss of the US dollar as the
world's reserve currency seem entirely plausible.
from NPR:
The mysterious group of hackers who go by the name “Anonymous” have threatened to take down the Internet on Saturday. Or not.
The confusion comes from the very nature of the group, which is amorphous and has no identifiable leadership. Several weeks ago, a group identifying itself as Anonymous announced “Operation Global Blackout,” the effect of which would be to bring Web surfing to a halt.
Cybersecurity experts doubt the operation would have more than a limited effect, given the layers of protection built into the Internet architecture.
The Anonymous group itself, meanwhile, appeared divided over the plan. A Twitter account normally associated with Anonymous included several statements on Friday denying any effort to shut down the Internet.
“For the billionth time: #Anonymous will not shut down the Internet on 31 March,” said one.
“What is this #OperationGlobalBlackout nonsense?” said another. “Stop asking us about it!”
The contradictions highlighted the difficulty of assessing whether a hacking threat should be attributed to Anonymous or to hackers merely posing as Anonymous
Read More @ NPR.org
Two years ago, when introducing then promptly enacting Obamacare, the president stated that healthcare law reform would not cost a penny over $1 trillion ($900 billion to be precise), and that it would not add ‘one dime’ to the debt. It appears that this estimate may have been slightly optimistic… by a factor of 1700%. Because coincident with the recent Supreme Court debacle, in which a constitutional law president may be about to find that his magnum opus law is, in fact, unconstitutional, someone actually read the whole thing cover to cover, instead of merely relying on the CBO’s, pardon Morgan Stanley and Goldman Sachs’, funding estimates. That someone is Republican Jeff Sessions who after actually running the numbers has uncovered that the true long-term funding gap is a mind-boggling $17 trillion, just a tad more than the original sub $1 trillion forecast. This latest revelation means that total underfunded US welfare liabilities: Medicare, Medicaid and social security now amount to $99 trillion! Add to this total US debt which in 2 months will be $16 trillion, and one can see why Japan, which is about to breach 1 quadrillion in total debt (yen, but who's counting), may want to start looking in the rearview mirror for up and comer competitors. And while Obama may have been taking creative license with a number that is greater than total US GDP, he was most certainly correct when saying that Obamacare would not add a penny to US debt. Because the second the US government comes to market to fund a true total debt/GDP ratio of 750%, it is game over, and the Fed will have its hands full selling Treasury puts every waking nanosecond to have any time left for the daily 3pm stock market ramp.
by Neil Munro, DailyCaller.com:
Senate Republican staffers continue to look though the 2010 health care reform law to see what’s in it, and their latest discovery is a massive $17 trillion funding gap.
“The more we learn about the bill, the more we learn it is even more unaffordable than was suspected,” said Alabama Sen. Jeff Sessions, the Republicans’ budget chief in the Senate.
“The bill has to be removed from the books because we don’t have the money,” he said.
The hidden shortfall between new spending and new taxes was revealed just after Supreme Court justices grilled the law’s supporters about its compliance with the Constitution’s limits on government activity. If the court doesn’t strike down the law, it will force taxpayers to find another $17 trillion to pay for the increased spending.
Read More @ DailyCaller.com
Senate Republican staffers continue to look though the 2010 health care reform law to see what’s in it, and their latest discovery is a massive $17 trillion funding gap.“The more we learn about the bill, the more we learn it is even more unaffordable than was suspected,” said Alabama Sen. Jeff Sessions, the Republicans’ budget chief in the Senate.
“The bill has to be removed from the books because we don’t have the money,” he said.
The hidden shortfall between new spending and new taxes was revealed just after Supreme Court justices grilled the law’s supporters about its compliance with the Constitution’s limits on government activity. If the court doesn’t strike down the law, it will force taxpayers to find another $17 trillion to pay for the increased spending.
Read More @ DailyCaller.com
Europe trying firewalls/ Greece in probable need of bailout/Spain delivers budget
Good evening Ladies and Gentlemen: Before commencing I would like to report that we had one bank enter our morgue: Fidelity Bank of Dearborn MICHIGAN. Gold closed up by $15.00 dollars to finish the comex session at $1670. Silver rose by 49 cents to $32.47 as the bankers try and contain these two precious metals. Let us head over to the comex and see how trading effected the price of gold andSlowdowns And Recessions Are Cyclical
Admin at Jim Rogers Blog - 1 hour ago
In America, we’ve had an economic slowdown, or recession, every 4 to 6
years since the beginning of the Republic. So you can do the addition, by
2013 or 2014 we’re going to have another . . . we’re overdue for another
recession. - *in ETF Daily News*
*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.*
Trader Dan on King World News Weekly Metals Wrap
Trader Dan at Trader Dan's Market Views - 1 hour ago
Please click on the following link to listen in to my regular weekly radio interview with Eric King on the KWN Weekly Metals Wrap. *http://tinyurl.com/6mhsjvf*
Chris Martenson Interviews Charles Biderman: The Problem With Rigged Markets
"Even
Wile E. Coyote had to come back down to earth sooner or later",
says Charles Biderman, founder of TrimTabs Investment Research. In his
opinion, the prices of stocks and bonds - enabled by excessive
financialization of our economy and central bank money printing - have
been defying gravity for a dangerously long time. If we continue to do
all we can to preserve the status quo -- to maintain "phony" asset
price levels as Charles calls them -- at best we will restrict overall
growth and handicap the economy. The problem isn't so much the
unfairness and malinvestment evident in a rigged market. As Charles
shrewdly asks: what happens when the market becomes un-rigged?
We've never experienced the unwinding of an entirely manipulated
financial system, so we can't predict for sure. But at this point, a
painful collapse of our markets and loss of the US dollar as the
world's reserve currency seem entirely plausible.Charles Biderman on the U.S. Recovery “Time to Stop Believing in the Tooth Fairy”
by Viola Gienger, Bloomberg.com:
A former Democratic national security adviser assailed Republican presidential front-runner Mitt Romney for lacking a grasp of foreign policy and said the former Massachusetts governor would return the U.S. to the policies of George W. Bush.
“If we take seriously what he has been saying in the course of the campaign, we have every reason to be very worried,” former U.S. National Security Adviser Zbigniew Brzezinski said in an interview on Bloomberg Television’s “Political Capital With Al Hunt,” airing this weekend. “He probably subscribes to the notions articulated by his Republican predecessor,” George W. Bush, Brzezinski said.
A former Democratic national security adviser assailed Republican presidential front-runner Mitt Romney for lacking a grasp of foreign policy and said the former Massachusetts governor would return the U.S. to the policies of George W. Bush.
Read More @ Bloomberg.com
A former Democratic national security adviser assailed Republican presidential front-runner Mitt Romney for lacking a grasp of foreign policy and said the former Massachusetts governor would return the U.S. to the policies of George W. Bush.
“If we take seriously what he has been saying in the course of the campaign, we have every reason to be very worried,” former U.S. National Security Adviser Zbigniew Brzezinski said in an interview on Bloomberg Television’s “Political Capital With Al Hunt,” airing this weekend. “He probably subscribes to the notions articulated by his Republican predecessor,” George W. Bush, Brzezinski said.
A former Democratic national security adviser assailed Republican presidential front-runner Mitt Romney for lacking a grasp of foreign policy and said the former Massachusetts governor would return the U.S. to the policies of George W. Bush.
Read More @ Bloomberg.com
The mysterious group of hackers who go by the name “Anonymous” have threatened to take down the Internet on Saturday. Or not.
The confusion comes from the very nature of the group, which is amorphous and has no identifiable leadership. Several weeks ago, a group identifying itself as Anonymous announced “Operation Global Blackout,” the effect of which would be to bring Web surfing to a halt.
Cybersecurity experts doubt the operation would have more than a limited effect, given the layers of protection built into the Internet architecture.
The Anonymous group itself, meanwhile, appeared divided over the plan. A Twitter account normally associated with Anonymous included several statements on Friday denying any effort to shut down the Internet.
“For the billionth time: #Anonymous will not shut down the Internet on 31 March,” said one.
“What is this #OperationGlobalBlackout nonsense?” said another. “Stop asking us about it!”
The contradictions highlighted the difficulty of assessing whether a hacking threat should be attributed to Anonymous or to hackers merely posing as Anonymous
Read More @ NPR.org
by Julian Phillips, MineWeb.com:
Emerging world worries over the political dominance of the U.S. helped by the dollar’s reserve currency role are hastening change in the global monetary system in which gold must play a critical role.
In a previous article we looked at whether the U.S. Dollar was headed for a major fall or not. We demonstrated how the dominance of the U.S. dollar was almost entirely dependent on the grip it had over oil producers and this allowed the oil price to be designnated in the U.S. dollar. The U.S. has gone to war in Kuwait and Iraq over this issue under the guise of destroying “weapons of Mass Destruction” as it appears on the verge of doing in Iran. It is no coincidence that Iran has long since ceased using the dollar to price its oil. It has also eliminated the U.S. dollar from its reserves.
THE SWIFT SETTLEMENT SYSTEM
But of greater importance to the emerging world has been the use of the Belgian-based SWIFT system of international settlements. Not only has the move stopped the sale of Iranian oil, but it has also interfered with an important source of oil to the emerging world.
Read More @ MineWeb.com
Emerging world worries over the political dominance of the U.S. helped by the dollar’s reserve currency role are hastening change in the global monetary system in which gold must play a critical role.
In a previous article we looked at whether the U.S. Dollar was headed for a major fall or not. We demonstrated how the dominance of the U.S. dollar was almost entirely dependent on the grip it had over oil producers and this allowed the oil price to be designnated in the U.S. dollar. The U.S. has gone to war in Kuwait and Iraq over this issue under the guise of destroying “weapons of Mass Destruction” as it appears on the verge of doing in Iran. It is no coincidence that Iran has long since ceased using the dollar to price its oil. It has also eliminated the U.S. dollar from its reserves.
THE SWIFT SETTLEMENT SYSTEM
But of greater importance to the emerging world has been the use of the Belgian-based SWIFT system of international settlements. Not only has the move stopped the sale of Iranian oil, but it has also interfered with an important source of oil to the emerging world.
Read More @ MineWeb.com
by Jeffrey Tucker, Whiskey and Gunpowder:
How much does the Internet contribute to our economic life? A lot, yes. But what if we tried to put a number on it?
Whatever good you have heard about The Hunger Games, the reality is more spectacular. Not only is this the literary phenom of our time — the number 1, 2, and 3 best seller on every list — but the movie that created near pandemonium for a week from its opening is a lasting contribution to art and to the understanding of our world. It’s more real than we know. I’m reminded of Hans-Hermann Hoppe’s book, Democracy: The God that Failed.
In the story, a totalitarian and centralized state — it seems to be some kind of unelected autocracy — keeps a tight grip on its colonies to prevent a repeat of the rebellion that occurred some 75 years ago. They do this through the forced imposition of material deprivation, by unrelenting propaganda about the evil of disobedience to the interests of the nation state and with “Hunger Games” as annual entertainment.
Read More @ WhiskeyAndGunpowder.com
How much does the Internet contribute to our economic life? A lot, yes. But what if we tried to put a number on it?Whatever good you have heard about The Hunger Games, the reality is more spectacular. Not only is this the literary phenom of our time — the number 1, 2, and 3 best seller on every list — but the movie that created near pandemonium for a week from its opening is a lasting contribution to art and to the understanding of our world. It’s more real than we know. I’m reminded of Hans-Hermann Hoppe’s book, Democracy: The God that Failed.
In the story, a totalitarian and centralized state — it seems to be some kind of unelected autocracy — keeps a tight grip on its colonies to prevent a repeat of the rebellion that occurred some 75 years ago. They do this through the forced imposition of material deprivation, by unrelenting propaganda about the evil of disobedience to the interests of the nation state and with “Hunger Games” as annual entertainment.
Read More @ WhiskeyAndGunpowder.com
America: A Government Out of Control (Part 1)
America: A Government Out of Control (Part 2)
by Simon Black, Sovereign Man:
One the more interesting investments I’ve made over the last few years was buying a sizeable chunk of a successful baby products company; our products sell around the world and in top retailers like Target, Babies R Us, Bed Bath and Beyond, etc.
The managing partner forwarded me a letter yesterday from one of our international manufacturing agents; the letter explained that, over the last two years, prices have risen substantially in the developing world where many of our products are manufactured.
China, for example, has seen wage increases of 44.6% since 2010. Vietnam- 39.1%. The polyethylene resin that we use has gone up in price 40.3%. Naturally, the rise in oil prices has also increased transportation costs substantially as well.
The letter pummeled us with this data about rising wages and input costs, and then followed it up with a polite assertion that they would be increasing their prices as a result.
Read More @ SovereignMan.com
One the more interesting investments I’ve made over the last few years was buying a sizeable chunk of a successful baby products company; our products sell around the world and in top retailers like Target, Babies R Us, Bed Bath and Beyond, etc.
The managing partner forwarded me a letter yesterday from one of our international manufacturing agents; the letter explained that, over the last two years, prices have risen substantially in the developing world where many of our products are manufactured.
China, for example, has seen wage increases of 44.6% since 2010. Vietnam- 39.1%. The polyethylene resin that we use has gone up in price 40.3%. Naturally, the rise in oil prices has also increased transportation costs substantially as well.
The letter pummeled us with this data about rising wages and input costs, and then followed it up with a polite assertion that they would be increasing their prices as a result.
Read More @ SovereignMan.com
from Silver Doctors:
The commercials reduced their silver futures short position a net 2,448 contracts (12.24 million ounces) in the week ending 3/27/12. This is a total reduction of 5,953 contracts or 30 million ounces over the past 2 weeks! (Last week’s COT report
saw a 17 million ounce reduction in the commercials’ net short
position). This brings the commercials (i.e. JP Morgan and friends)
total net short silver position back down to 29,678 contracts, or 148.39
million ounces. This is almost exactly in between the low near 100
million net shorts reached at the end of 2011, and the 184 million
ounces reached in early February. While the cartel obviously still has
some firepower remaining and may wish to knock prices lower to cover the
remainder of these relatively new shorts, the level is becoming more
more neutral than has been seen in recent weeks.
Read More @ SilverDoctors.com
The commercials reduced their silver futures short position a net 2,448 contracts (12.24 million ounces) in the week ending 3/27/12. This is a total reduction of 5,953 contracts or 30 million ounces over the past 2 weeks! (Last week’s COT report
saw a 17 million ounce reduction in the commercials’ net short
position). This brings the commercials (i.e. JP Morgan and friends)
total net short silver position back down to 29,678 contracts, or 148.39
million ounces. This is almost exactly in between the low near 100
million net shorts reached at the end of 2011, and the 184 million
ounces reached in early February. While the cartel obviously still has
some firepower remaining and may wish to knock prices lower to cover the
remainder of these relatively new shorts, the level is becoming more
more neutral than has been seen in recent weeks. Read More @ SilverDoctors.com
by Andy Hoffman, MilesFranklin.com:
There is NEVER a shortage of topics to discuss as the END GAME of the
GLOBAL FINANCIAL SYSTEM approaches. For a brief moment I didn’t have
one lined up, but when I reviewed yesterday’s fabulous Chris Martenson article about gold manipulation, my “writer’s block” quickly dissipated.
Chris Martenson Explains How Gold Is Manipulated… And Why That’s Okay
The title of the article is what raised my dander – although it’s a bit misleading, as at no point does he actually state gold manipulation is acceptable. The closest comment I found was the following, indicating that such suppression only strengthened his convictions in gold’s long term path – a far cry from being “Okay” with it.
Instead of being annoyed by the gold price suppression scheme, I take comfort in the idea that suppression gives us a clear indication that our investment thesis is shared by somebody with bottomless pockets — and I like paying lower prices.
That said, the reason the title bothered me is thus: GOLD MANIPULATION HAS DESTROYED THE WORLD. Thus, when I saw the following headline from StockMarketWatch.com, my head started spinning:
Read More @ MilesFranklin.com
There is NEVER a shortage of topics to discuss as the END GAME of the
GLOBAL FINANCIAL SYSTEM approaches. For a brief moment I didn’t have
one lined up, but when I reviewed yesterday’s fabulous Chris Martenson article about gold manipulation, my “writer’s block” quickly dissipated.Chris Martenson Explains How Gold Is Manipulated… And Why That’s Okay
The title of the article is what raised my dander – although it’s a bit misleading, as at no point does he actually state gold manipulation is acceptable. The closest comment I found was the following, indicating that such suppression only strengthened his convictions in gold’s long term path – a far cry from being “Okay” with it.
Instead of being annoyed by the gold price suppression scheme, I take comfort in the idea that suppression gives us a clear indication that our investment thesis is shared by somebody with bottomless pockets — and I like paying lower prices.
That said, the reason the title bothered me is thus: GOLD MANIPULATION HAS DESTROYED THE WORLD. Thus, when I saw the following headline from StockMarketWatch.com, my head started spinning:
Read More @ MilesFranklin.com
from The Economic Collapse Blog:
Is the U.S. economy going to be okay? Well, if the only source you
listened to was the mainstream media, you would be left with the
distinct impression that the U.S. economy is heading toward a full
recovery and that everything is going to be alright. Unfortunately,
that is not the case at all. The United States is rapidly becoming
poorer as a nation and less competitive in the global marketplace. At
the same time, consumer debt levels are rising, corporate debt levels
are rising, state and local government debt levels are rising and the
U.S. government is indulging in a debt binge unlike anything the world
has ever seen. Considering the insane amount of money the U.S.
government has been pumping into the economy, we should have seen a much
more robust recovery by now. Instead, the employment statistics have barely moved and government dependence is at an all-time high. That is really sad, because this is
as good as “the recovery” is going to get. The next major economic
downturn is just around the bend, and in future years millions of us
will desperately yearn for the “good old days” of 2012.
Read More @ TheEconomicCollapseBlog.com
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Is the U.S. economy going to be okay? Well, if the only source you
listened to was the mainstream media, you would be left with the
distinct impression that the U.S. economy is heading toward a full
recovery and that everything is going to be alright. Unfortunately,
that is not the case at all. The United States is rapidly becoming
poorer as a nation and less competitive in the global marketplace. At
the same time, consumer debt levels are rising, corporate debt levels
are rising, state and local government debt levels are rising and the
U.S. government is indulging in a debt binge unlike anything the world
has ever seen. Considering the insane amount of money the U.S.
government has been pumping into the economy, we should have seen a much
more robust recovery by now. Instead, the employment statistics have barely moved and government dependence is at an all-time high. That is really sad, because this is
as good as “the recovery” is going to get. The next major economic
downturn is just around the bend, and in future years millions of us
will desperately yearn for the “good old days” of 2012.Read More @ TheEconomicCollapseBlog.com
[Ed. Note:
Remember, in a fascist state the government is not by and for the
people, it is by and for the corporations. And since the FDA is a
revolving door with big Pharma and big Agra, it stands to reason that
they don't CARE what you want.]
by Kurt Nimmo, Infowars:
The FDA is with Monsanto and agribusiness. They don’t want you to know what’s in the food you eat.
On Tuesday, the FDA reached a deadline for the “Just Label It” petition calling for GMO to be included on food content labels.
The FDA said it had not made a decision and needs more time to think it over.
It also said the petition with over a million signatures – far larger than any other the agency has ever received – counts as only one signature.
“The agency says that if 35,000 people, for instance, sign their name to the same form letter it only counts as one person or ‘comment.’ And if tens of thousands sign a petition, they are only counted as one ‘comment,’ too,” reports the Chicago Tribune.
Every major poll on genetically engineered food labeling is overwhelmingly supported by Americans despite efforts by Monsanto and the GMO industry to convince them otherwise.
Read More @ InfoWars.com
by Kurt Nimmo, Infowars:
The FDA is with Monsanto and agribusiness. They don’t want you to know what’s in the food you eat.
On Tuesday, the FDA reached a deadline for the “Just Label It” petition calling for GMO to be included on food content labels.
The FDA said it had not made a decision and needs more time to think it over.
It also said the petition with over a million signatures – far larger than any other the agency has ever received – counts as only one signature.
“The agency says that if 35,000 people, for instance, sign their name to the same form letter it only counts as one person or ‘comment.’ And if tens of thousands sign a petition, they are only counted as one ‘comment,’ too,” reports the Chicago Tribune.
Every major poll on genetically engineered food labeling is overwhelmingly supported by Americans despite efforts by Monsanto and the GMO industry to convince them otherwise.
Read More @ InfoWars.com
Silver Manipulation Acknowledged By Government
from CapitalAccount:
We’ve heard billionaire investor Warren Buffett saying the rich should be taxed more. That he should be taxed more. He’s mad ethe case very publicly and with much fanfare, that he pays 17.7% in taxes, a lower tax rate than his secretary…and not just his secretary…all of his office staff. Sounds impressive, but our guest today asks if we should slap a warning label on each one of Buffett’s public pronouncements as well. Before we get into the matter at hand, let’s look back at a little history. Back in 2003, for example, Buffett was warning about the value of the dollar, the nation’s debt, and what he said was the US exporting its net worth abroad. He wrote an article warning about this exact issue back in 2003…the famous “squanderville vs. thriftville.” The article was titled “America’s Growing Trade Deficit is Selling the Nation out from Under us.” The US, of course, was Squanderville. Warren Buffett wrote, among other things, that sooner or later the Squanderville government, facing ever greater payments to service debt, would decide to embrace highly inflationary policies — that is, issue more squander bucks to dilute the value of each. But fast forward to the 2008 financial crisis and Buffett was not worrying about the debt-increasing-bailouts of the financial system; he was advocating for them. Remember how he pushed for TARP? This as the treasury’s action plan which Hank Paulson was pushing. This was before it was passed by congress and signed into law by Bush, but AFTER it had failed in the House the first time around. Warren seemed a little flustered during those “free market” hours…
We’ve heard billionaire investor Warren Buffett saying the rich should be taxed more. That he should be taxed more. He’s mad ethe case very publicly and with much fanfare, that he pays 17.7% in taxes, a lower tax rate than his secretary…and not just his secretary…all of his office staff. Sounds impressive, but our guest today asks if we should slap a warning label on each one of Buffett’s public pronouncements as well. Before we get into the matter at hand, let’s look back at a little history. Back in 2003, for example, Buffett was warning about the value of the dollar, the nation’s debt, and what he said was the US exporting its net worth abroad. He wrote an article warning about this exact issue back in 2003…the famous “squanderville vs. thriftville.” The article was titled “America’s Growing Trade Deficit is Selling the Nation out from Under us.” The US, of course, was Squanderville. Warren Buffett wrote, among other things, that sooner or later the Squanderville government, facing ever greater payments to service debt, would decide to embrace highly inflationary policies — that is, issue more squander bucks to dilute the value of each. But fast forward to the 2008 financial crisis and Buffett was not worrying about the debt-increasing-bailouts of the financial system; he was advocating for them. Remember how he pushed for TARP? This as the treasury’s action plan which Hank Paulson was pushing. This was before it was passed by congress and signed into law by Bush, but AFTER it had failed in the House the first time around. Warren seemed a little flustered during those “free market” hours…
by Michelle Smith Silver Investing News:
Silver started this week moving in a positive direction, but is now
back under pressure. The metal has yet to return to its February 29
high, and it appears that many investors are deciding not to wait
around.
US Federal Reserve Chairman Ben Bernanke was again a factor in the week’s silver action, but this time he had a positive effect on the market.
Falling jobless claims have been an important piece of evidence used to support confidence that the US economy is recovering. This data has also played a role in pressuring silver.
Read More @ SilverInvestingNews.com
US Federal Reserve Chairman Ben Bernanke was again a factor in the week’s silver action, but this time he had a positive effect on the market.
Falling jobless claims have been an important piece of evidence used to support confidence that the US economy is recovering. This data has also played a role in pressuring silver.
Read More @ SilverInvestingNews.com
POLICE STATE 2012: Weapons On Police Drones Coming Soon [Judge Andrew Napolitano Explains the Criminality of it All]
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