Peter Schiff: This Collapse Will Be Worse Than The Great Depression

from The Alex Jones Channel:

Expert economist Peter Schiff thinks the coming collapse will be far worse than the Great Depression and you need to be prepared.

Goldman Warns Of "Upward Shock" To Rates, Hints At Trillions In Losses

According to Goldman, here is the unpleasant choice facing the world: continue slowly sinking into a deflationary singularity, coupled with ever greater systemic leverage which makes escape from the ZIRP/NIRP trap impossible as social unrest builds up and ultimately spills over into the streets, or unleash an inflationary impulse, one which crushes countless debt holders, leads to trillions in losses, and requires yet another consolidated bailout.... oh, and also more social unrest.

What Could Possibly Go Wrong?

So we have a booming market in opaque, complicated financial instruments involving layers of risk, leverage and maturity mismatches.  We have unsophisticated investors and issuers, both seeking to avoid government regulations and expecting to be bailed out in the worst case. We have cross-holdings and backdoor exposures to regular credit channels.  We have all of this taking place in an environment of booming credit expansion, a deteriorating economy and financial repression. We hate to repeat ourselves, but really... WHAT COULD POSSIBLY GO WRONG?

Real Unemployment Rate More Than Double The Official Number, CLSA Finds

According to CLSA economists, who have updated an analysis we first did in the summer of 2010, if the participation rate stayed at the levels before the financial crisis, the unemployment rate would be 9.6%, more than double what it is today.  So the next time you hear that the economy is doing well because of "falling unemployment", refer them the "fringe" CLSA economists, and whatever you do, don't tell the Washington Post.

Chart Of The Day: "Big" vs "Small" Government

Spot the difference...

Peddling Non-Fiction: Here Are The Facts About America's Disappearing Middle Class

Obama calls it "peddling fiction." For the rest of America, it's called reality, and it is getting uglier with every passing day.

US Declares Hegemony Over Asia

by Tony Cartalucci, New Eastern Outlook:
Never has US intentions in Asia been so obvious. Attempts to portray America’s role in the region as constructive or necessary have been ongoing since the end of World War II, however, recently, with Asia able to begin determining its own destiny for itself, the tone from Washington has become increasingly curt and direct.
US Secretary of Defense Ashton Carter’s remarks during the Shangri-La Dialogue in Singapore were all but a proclamation of US hegemony over Asia – a region of the planet quite literally an ocean away from Washington.
In Reuters’ article, “U.S. flexes muscles as Asia worries about South China Sea row,” Secretary Carter is quoted as saying:

The United States will remain the most powerful military and main underwriter of security in the [Asian] region for decades to come – and there should be no doubt about that.

The US, besides implied exceptionalism, never fully explains why it believes underwriting security for an entire region of the planet beyond its own borders is somehow justified.
Read More

What Makes Venezuela Different

A state that controls the economy also has the power to loot it. But, there is a big difference between redistributing wealth and destroying everyone who attempts to create some of it. In order to redistribute wealth, you have to make it first. This is a distinction that the leaders of the Venezuela regime (and their supporters) have apparently long been too foolish to understand. For this, the people of Venezuela are paying a heavy price.

How Fascism Comes to America

by Doug Casey, International Man:
I think there are really only two good reasons for having a significant amount of money: To maintain a high standard of living and to ensure your personal freedom. There are other, lesser reasons, of course, including: to prove you can do it, to compensate for failings in other things, to impress others, to leave a legacy, to help perpetuate your genes, or maybe because you just can’t think of something better to do with your time.
But I’ll put aside those lesser motives, which I tend to view as psychological foibles. Basically, money gives you the freedom to do what you’d like – and when, how, and with whom you prefer to do it. Money allows you to have things and do things and can even assist you to be something you want to be. Unfortunately, money is a chimera in today’s world and will wind up savaging billions in the years to come.
Read More

The End of Silver Shortages? US Mint Silver Eagle Allocation Likely Ending

from Silver Doctors:

On This Special Edition of Metals & Markets, We Break the News That It Appears the US Mint is Set to End Silver Eagles Allocation as AP’s Begin Dumping Coins.

Four Alternatives to Holding Your Savings in a Bank

by Simon Black, Sovereign Man:
“Global yields lowest in 500 years of recorded history. $10 trillion of neg. rate bonds. This is a supernova that will explode one day.”
Those were the words of famed bond fund manager Bill Gross.
(Gross was actually the first portfolio manager inducted into the Fixed Income Analyst Society’s “Hall of Fame”. And yes, there really is a hall of fame for that.)
Gross wrote that more than $10 trillion in government bonds actually have NEGATIVE yields, and that interest rates are at the lowest levels in financial history.
For example, the British government just issued its lowest-yielding bonds since 1694.
Read More

Big Names Bailing

by John Rubino, Dollar Collapse:
The list of heavy hitters who are saying bad things about this world and its financial markets — while acting aggressively on their pessimism — is growing to alarming proportions. A few examples:
Stan Druckenmiller: The bull market is exhausted; move to gold
(MineWeb) – Legendary investor Stan Druckenmiller, founder of Duquesne Capital Management LLC, told the Sohn Investment Conference in New York last week that he is bullish on gold and bearish on the stock market. Gold, he told the conference, “is our largest currency allocation.”
Read More

Garlic’s Healing Properties Are so Intense That it is 100 Times More Effective Than Antibiotic Treatments

by Sarah Landers, Natural News:
Garlic has been used for thousands of years all over the world, and modern science is now backing up its medicinal properties. A recent study by researchers at Washington University has found that garlic can be up to 100 times as effective at treating bacterial infections as most mainstream antibiotics, as reported by Natural News.
Garlic is not just antibacterial, but it is also packed full of antioxidants that work to improve your overall health. It is high in sulfur, which can help to detoxify your system and remove unwanted toxins, as well as removing other substances that make your body more vulnerable to infection.
Read More

The Ultimate Antibiotic: Oregano… Why You Should Get Some Now to Help Protect You During Hard Times

by Isabelle Z, Natural News:
Antibiotics have been getting a lot of bad press lately – and for good reason. Besides their many harmful effects, they are vastly over-prescribed, and are leading to the evolution of deadly superbugs that can’t be killed. This is leading many people to seek out natural alternatives, and one of the best herbs that boasts antibiotic properties is oregano.
If you’ve ever wondered how people survived before modern medicine, the answers can be found growing in the world’s mountains, forests and jungles. Native to the Mediterranean, oregano oil was first used for medicinal purposes in ancient Greece, where it was noted for its antiseptic, antibacterial, antiviral and anti-fungal properties. While some people only know it as a spice for pizza and other Italian dishes, it remains a popular treatment today, and can be used for a number of problems, including colds and flu, arthritis, ear infections, sore throat, diarrhea, tuberculosis and rashes, to name just a few.
Read More

Still think your vote counts...

Mitt Romney Endorses Hillary Clinton for President 2016

from Mark Dice:

Mitt Romney has endorsed Hillary Clinton for President in the 2016 election by default. The former GOP nominee for the presidency in 2012 says he’s Never Trump forever, and may vote for a 3rd party, possibly the Libertarian Party he says. When GOP insiders have warned that doing such a thing is a vote for the Democrats by default, now Mitt Romney encouraging people to do exactly that, which would only lead to Hillary Clinton becoming the next President of the United States.

Fearful of EU Disintegration and Mired in Crisis, France Wants Britain Punished for Brexit Revolt

by Don Quijones, Wolf Street:
But a majority of the French want out of the EU too!
As support for a British exit from the EU strengthens, at least according to the latest polls that give some people whiplash, policy makers on both sides of the English Channel are finally beginning to think about the days, weeks and months after June 23. Some countries, such as Germany, seem more inclined to favor a soft, pragmatic approach in the event of a Brexit, while others, led by the government of France, are calling for a more punitive response.
As originators of the phrase “Pour encourager les autres,” (to encourage the others), it is fitting that France is leading calls for Brussels to punish the UK if its public has the temerity to vote to leave the EU. Among the measures under discussion are to expedite Britain’s removal from all EU treaties rather than let negotiations drag on, as well as restrict the “passporting” of financial services, which allows foreign-owned companies to do business with the EU via offices located in Britain.
Read More

Kamikaze Bond Market

from Rogue Money:
If a Japanese Kamikaze pilot plummets earthward in a ball of fire, but the Federal Reserve ignores Abe’s pleas for help, does it leave a mark? Yes, we’re certain it will. I have a sneaky feeling that our own V. the Guerrilla Economist will have plenty to say over the next few weeks about what comes next in the Japanese bond market, just as he warned three years ago of the disaster that is the Land of the Rising Sun. Meanwhile, I wanted to post this quick blog if for no other reason than to “document the collapse,” as Sean at @SGTreport is wont to say.
I thank Jeff Berwick of DollarVigilante.com for pointing out the obvious in his blog dated June 01, 2016 and linked here: “Now Japanese Prime Minister Abe Predicts Global Economic Catastrophe Is Imminent”. A few of the pertinent points are copied below his YouTube summary of the same blog:
Read More

Too Vast To Manage - Why Monetary Central Planning Must Fail

Remember, bad news is good news.  But don’t forget, good news is bad news. Alas, this is how capital is apparently efficiently allocated to its highest and best use in the year 2016.  Surely, there must be a Darwin Award for this grand achievement.

Artist's Impression Of Hillary Breaking 'Glass Ceilings'

Maybe it's not how high she will reach, but how low she will stoop?

"We Don't Have A Wage Problem; We Have A Money Problem"

Minimum wage advocates seek to solve a legitimate problem facing American workers: their dollars buy less and less every year. But simply mandating employers fork over more dollars is a little like putting a band-aide on an amputation. It doesn’t do anything to address the underlying problem. Our money is broken, and we need to fix it.

/