Saturday, December 11, 2010
The financial crisis has shown that speculation, funds, and credit default swaps create a huge amount of virtual wealth, but the real economic motor is driven by the manufacture of products using the earth's natural resources. The race is already on to control rare resources like lanthanum, scandium and thulium; essential for hi-tec but everyday products such as computers and mobile phones.Even without environmental regulations, China has more deposits. We simply don't know where the rare earth minerals are.What a coincidence how the U.S just happened to find those resources in Afghanistan! the regulations that restrict mining and exploration in the western/developed world, do not apply to the likes of the Democratic Republic of Congo (DRC) South America and China.
He knows what is coming down the line: civil unrest. Pelley failed to ask some hard follow-up questions like, "So do you think Congress will extend unemployment benefits for 'a protracted period of time'?" Not one word about why they exclude food and energy prices from inflation calculations. "Some people think the $600 billion is a dangerous thing to try." That would include members of the Federal Reserve. "Panic of 2008"? Only panic was at Goldman Sachs - will I get my bonus? Sure!At this point there's nothing to save this house on cards economy. This system encourages people to act irresponsible, taking on huge risks to overconsume. When you over-consume you take your future consumption away, and here we are out of money buried in debt. It needs a national chapter 11 to liquidate the debt in the system before it can truly recover. A few QE tweaks here and there ain't gonna cut it.
Friday, December 10, 2010
Thursday, December 9, 2010
We already have big moves and I see all the brokers upgrading the earnings estimates and so forth. So I become a little bit apprehensive about this universal bullishness. I would rather think that after a strong month of September - when everybody was expecting September to be a horrible month - October and November may be bad months. In the past, October has frequently been a disastrous month like we had the October 1987 crash, we had the late September-early October 1929 crisis. In 1976 and 1978, we had very bad months in October and November. So who knows, out of this present bullishness, we could have some kind of a sharp correction developing. ..."
Wednesday, December 8, 2010
Tuesday, December 7, 2010
Monday, December 6, 2010
Sunday, December 5, 2010
The Principal of The University of Edinburgh, Timothy OShea said: The University is delighted to welcome Joseph Stiglitz to speak as part of our Enlightenment Lecture Series. He is one of the giants of economics, his contributions across every part of the discipline are recognised the world over. He has already played a major role in shaping events in the worlds recent economic history, and now he is set to shape our future with his ground breaking theories on how globalisation needs to work for disenfranchised peoples worldwide. His lecture examining themes of global economics for the new millennium promises to be a fascinating insight into new economic theory.
Saturday, December 4, 2010
Now what happens if so much money flows to emerging economies is that you get bubbles over time - currency bubbles, stock market bubbles, real estate bubbles. The question is then how do these emerging economies’ central banks react to that. The Brazilian Finance Minister has just said we are in the midst of a currency war, a foreign exchange war and the central banks of emerging economies have a choice to do nothing - then they have high domestic inflationary pressures with accompanying bubbles - or they tighten monetary policies and their currency becomes even stronger and you have a speculative bubble in the currency. So the Fed has put them actually in a very difficult position and I believe we are going to end up with bubbles in precious metals and to some extent in emerging economies’ real estate and equity markets and every bubble eventually bursts. It does not have to happen tomorrow. It could last another year, but the Fed is actually endangering emerging economies at the present time. ..."
Friday, December 3, 2010
in a recent interview with moneycontrol
Thursday, December 2, 2010
The violations have been massive
The Nobel prize-winning economist says banks are undermining the rule of law in America and bad mortgages still fester
Wednesday, December 1, 2010
Tuesday, November 30, 2010
Charles Nenner of the Charles Nenner Research Institute is a technical analyst who looks at long-term cycles to make predictions about markets.
"You don't want to short it here but for the longer period the euro is going much lower," "In a year and a half or two years it's really going to be a big mess." Charles Nenner, says.
Monday, November 29, 2010
Sunday, November 28, 2010
So actually, the US monetary policies have been very good for Asia, specifically for China because it fostered industrial production growth in China, employment growth, wage increases, domestic consumption, increased demand for raw materials, that then lifted commodity prices. For that actually the developing world, the emerging economies including China, India , Vietnam, Brazil and so forth should all send a thank you note to Bernanke...." Marc Faber said in a recent interview with www.moneycontrol.com
Saturday, November 27, 2010
In other words, Bernanke as he said and wrote the US can drop dollar bills from helicopters onto the US, but what they don’t control is where these dollar bills will flow to, and as it happens it went into bubbles in US creating over consumption, and symptom of overconsumption was then the trade and current account deficit that shifted production and capital spending overseas and shifted economic growth to emerging economies and now QE2 what it will do is essentially it will foster bubbles, in commodities, in precious metals and in the capital markets of emerging economies where the capital will flow to."
Friday, November 26, 2010
Thursday, November 25, 2010
The U.S. economy "is a complete disaster, "Here are the numbers...we're broke," Davidowitz declares, noting the U.S. government goes $5 billion deeper into debt every day and is facing $1 trillion-plus annual deficits for the next decade. "In other words, we're bankrupt."
Wednesday, November 24, 2010
Matt Taibbi's latest piece focuses on the Rocket Docket court set up in Jacksonville to expedite a backlog of foreclosure cases in the state of Florida....
A top Treasury Department official said Tuesday that federal investigators looking into problems with mortgage foreclosures throughout the country have found widespread and “inexcusable” breakdowns in basic controls in the foreclosure process.
“These problems must be fixed,” Assistant Treasury Secretary Michael Barr told members of the Financial Stability Oversight Council, the newly formed panel of regulators responsible for identifying potential risks to the financial system
Tuesday, November 23, 2010
Taibbi, who became widely known in financial circles in 2009 when he dubbed Goldman Sachs "a vampire squid on the face of humanity," says he is not cynical by nature. "But this Wall Street stuff is overwhelming," he says. "The more you look into it, the less you see the way out. The government seems so completely helpless to do anything positive in this situation."
Monday, November 22, 2010
Marc Faber recently in an interview with bloomberg said that anything less than $1 trillion From Bernanke could disappoint investors and might prompt a correction in U.S. stocks. Marc Faber, managing director of Marc Faber Ltd publisher of the Gloom, Boom & Doom report, and Barron's Roundtable member, anticipates meaningful market correction in 2010. Mining and agriculture will be top performers within commodity sector.Marc Faber is currently recommending agriculture commodities, and the accumulation of precious metals although he does no roll out some correction before the end of the year before the prices shoot up in 2011
Sunday, November 21, 2010
Professor Elizabeth WARREN + Bill MAHER
US USURY [excessive interest incorporated onto any debt].
Now the NEW WORLD ORDER message goes out to the World from the US
TRICK + TRAP + SCREW everyone else = the Corporation Benefits
The US Citizen in the WEAKER bargaining position is ABUSED
The US Corporation is identified as the STRONGEST bargaining position.
Anything for the US Corporation to BOOST PROFITS - that's OK?
In 1979 USURY LAWS OF US WERE DESTROYED.
INEQUALITY OF BARGAINING POSITION
Whatever happened to the Judge as Independent Arbiter?
Or is the Judiciary now the representative of the Corporation - as FREEMASON co-optee?
Has the PUBLIC OATH of the Judiciary now been compromised by the PRIVATE OATH of FREEMASONRY?
Saturday, November 20, 2010
This video explains the basic effects of inflation of the money supply. I'll be putting together a video on Hyperinflation, hopefully before it happens.
NATS - Money Counting
"A solution being offered now to get the economy back on track was to dramatically increase the money supply"
0:10 Tim Shaughnessy - Professor of Economics - Louisiana State University
"So we had the T.A.R.P. bailouts, bailouts of the financial organizations and the car companies. All of this was done through printing of money"
NATS - Money Printing
"By printing more money means that eventually there's going to be more dollars out there chasing the arguably the same amount of goods which that's the definition"
0:28 Chris Combs - Professor of Economics - Louisiana State University
"of inflation right. When you have more money chasing the same amount of goods all it's going to do is raise the price of goods"
"Which provides dollars to these organizations that need it but what does it do to the value of the dollars that are already in exsistance? Well it's going to drive the value of our dollars down"
"We're looking at the big picture, and we are saying ok, we can fix the short term problem maybe. Depends on what camp you come out of whether it will work or not. But even if it does work, and it might not work, but even if it does, the problem is inflation tomorrow"
NATS - Shopping
1:03 Cody Jennings - Videographer -- email@example.com
"On the one hand you have buyers increasing their demand for goods. They say to themselves, you know this goodis going to be a lot more expensive"
1:15 Joe Salerno - Professor of Economics - Lugwig Von Mises Institute
"Three months down the road, or even a few weeks down the road. That's how fast prices are increasing. And therefore I'm going to buy it today. But if everybody starts to think that way that will drive prices up even faster and cause greater inflation and it becomes a vicious cycle. At that point you get a breakdown in the economy"
NATS - Printing Reciept
1:37 Dr. Loren Scott - Professor of Economics - Louisiana State University Baton Rouge
"I think this is a functionof the fact that suddenly the government is running, not just deficits, but enormus deficits. People were very worried the deficits increasing under George Bush and they said my gosh. Look at these defecits under George Bush. I mean the 1st year defecit under Obama is just straight through the floor. And if by any stupid decision they decide to put another stimulus package in, it will really be through the floor"
NATS - Inflating the Dollar Baloon
"The dollar keeps being inflated"
NATS - Inflating the Dollar Baloon
"We are running these hudge budget defecits that we try to pay off through increasing the money supply"
NATS - Inflating the Dollar Baloon
"And so people are seeing that fiscal policy, monetary policy doesn't seem to be very well under control in the U.S. so the attractiveness of the dollar falls because of it"
NATS - POP
"We've continued on a path of false prosperity thinking that we can bring about prosperity by creating money and having artificially low interest rates. The true path that we want to get back to os a prosperity based on the resources that we do have and the voluntary savings and credit we are capable of generating in a free market economy"
Teaser information prior to this PKG
Tim Shaughnessy - Professor of Economics - Louisiana State University
"If they try to fix the recession it could lead to prices rising even more because the way that the government does it is by trying to increase its own spending and everyone elses spending. Either the government will just out right buy more things itself or it will give tax cuts, stimulus check or whatever to get consumers to spend more"
Chris Combs - Professor of Economics - Louisiana State University
"What's the payoff? If we fix the problem now but then we have to pay higher prices in the future how are we better off from that"
"The increase demandfor products from government or consumers leads to prices going up. So if you have a problem where inflation is an issue and you are trying to fix a recession, you could fix the recession but you are going to get even more inflation on top of that"
Friday, November 19, 2010
Thursday, November 18, 2010
Wednesday, November 17, 2010
I do not think that this will be the case because if the economy weakens again and you have deflation, that would be required to get these yields down there. You would have further massive fiscal stimulus and as a result of that, the deficit and the government’s debt go up and then the interest payments on the government debt go up. The ability of the government to pay the interest on its debt will diminish if the credit quality goes down. For that reason, I do believe that we will see new lows in interest rates.
So we had the bull market in bonds that lasted 1981 to 2008 - in other words 27 years - and now we are in a bear market for bonds that may last 20 years and bring yields to record highs that would mean on the 10 years note a yield of over 15%. ....
Tuesday, November 16, 2010
Democracy NOW! - DN! - We are joined by Nobel Laureate Joseph Stiglitz - American economist and professor at Columbia University. Author of Freefall: America, Free Markets, and the Sinking of the World Economy now in paperback. As the Obama administration rejects a foreclosure moratorium and austerity protests grip Europe, we assess the state of the US and global economy with Nobel Prize-winning economist Joseph Stiglitz, author of Freefall: America, Free Markets, and the Sinking of the World Economy. Stiglitz backs calls for a foreclosure moratorium and says opponents of a new government stimulus "don't understand basic economics." On war, Stiglitz says Iraq and Afghanistan are "the first wars in America's history financed totally on the credit card." Published with written permission from democracynow.org. http://www.democracynow.org Provided to you under Democracy NOW! creative commons license. Copyright for broadcast belongs to democracynow.org, an independent non-profit user funded news media, recognized and broadcast world wide.
Monday, November 15, 2010
"Then you will have another problem on your hands the way you had a problem when the Nasdaq bubble burst and the housing bubble burst."Marc Faber author and editor of The Gloom, Boom & Doom Report told CNBC last week
Troika Dialog - the conference sponsor has kindly granted me a written permission to publish this video.
For more information about The Russia Forum and original (full version) video please visit: http://2010.therussiaforum.com/news/n...
Sunday, November 14, 2010
Friday, November 12, 2010
Dr. Marc Faber Tomorrow's Gold
Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager.
The Future of Gold - and the Libertarian Vision! Peter Schiff on Freedomain Radio - Stefan Molyneux, host of Freedomain Radio, speaks with Peter Schiff of Schiff Radio and Euro... [[ This is a content summary only. Visit www.figanews.com f...15 minutes ago
Michael Hastings Hours Before His Death Contacted Wikileaks Attorney Said FBI Was Investigating Him - Hours Before His Death Michael Hastings Contacted Wikileaks Attorney Said FBI Was... [[ This is a content summary only. Visit http://www.financearmageddon...1 hour ago
Robert Kiyosaki : Being an entrepreneur is simply going from one mistake to the next - Robert Kiyosaki : Being an entrepreneur is simply going from one mistake to... [[ This is a content summary only. Visit www.figanews.com for The full Sto...13 hours ago
Roubini: The Fed Exit Strategy Will Be 'Treacherous' - "If financial markets are already frothy, consider how... [[ This is a content summary only. Visit my website : www.nourielroubini.blogspot.com for full st...13 hours ago
Jim Rogers Optimistic about a single Asean Currency - Jim Rogers is "optimistic" about the... This is an excerpt only please visit http://www.JimRogersInvestments.com for the full story , Thank You >>>>13 hours ago