John Williams of Shadow Stats, - Radio Liberty 12 May 2011

John Williams of Shadow Stats o the real figures on unemployment the GDP the Inflation the consumer price index and the overall US economy , John Williams who is an independent economist not funded by any government agency , his figures are different from the official figures that the US government shows publicly....

Matt Taibbi : Goldman Sachs Should Be Prosecuted

Rolling Stone journalist, Matt Taibbi joins Thom to discuss the latest developments in the Goldman Sachs corruption trial. Why banksters never go to jail ????



report shows that investment bank Goldman Sachs should face criminal charges.Rolling Stone - The People vs. Goldman Sachs A Senate committee has laid out the evidence. Now the Justice Department should bring criminal charges
By Matt Taibbi
http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20110511

Marc Faber on The government deficit reduction plans

Marc Faber  :  there have always been deficit reduction plans and none of them was kept because of politics and because of the economic situation I think may be may be you can cut the deficit from say one and half trillion dollars down to one point four trillion by a hundred billion dollars or so ,but they argued now for almost six months to cut the deficit or reduce the deficit by something like forty billion dollars ...what does it matter 40 billion dollars on one and half trillion dollars ....in CNBC

Ben Bernanke Confronted with some real questions !

Ben Bernanke chairman of The Federal Reserve confronted by Luke Rudkowski of WeAreChange about the Bilderberg meeting and why is he destroying the US Economy...

John Embry & James Turk on The Silver Correction and overall economy

John Embry Chief Investment Strategist at Sprott Asset Management discusses the recent correction in the silver price with James Turk, Director of the GoldMoney Foundation: ....I think the rise to the recent $50 peak believe it or not was justified and it is funny when you read the main stream press everybody is talking about bubbles and how big the crash is going to be , they would not seem to understand the fundamentals I think the fundamentals of silver are impeccable , the fact that we are going through a tough crash is not surprising it's a paper driven COMEX sponsored correction and it's to be expected , I mean if you have been involved in silver market as long as we have at Sprott we're used to these things they are not fun but it is another buying opportunity ... The paper market probably drives the prices most of the time when the physical takes over is when the physical shortage takes place and what's going on right now is very clearly there is a massive short position in...

Mark Mobius, Commodities Will Fluctuate But Rise

Mark Mobius, Commodities Will Fluctuate But Rise , Mark Mobius, is Executive Chairman of Templeton Emerging Markets Group joined CNBC to discuss the euro zone debt crisis and the commodities.

Marc Faber outlook for Gold

" When everybody thinks alike, I become very defensive,” “I’m deferring any new purchases of the beneficiaries of the inflation trade, except for gold.” Marc Faber was reported to have said Tuesday at the New York Hard Assets Investment Conference , Marc Faber reiterated his bullish outlook on gold but made cautious comments on stocks and cyclical commodities according to www.goldalert.com , contrarian investor Marc Faber is known to be a long time bull on gold , silver and commodities in general

John Williams of Shadow Stats : The Fed is a Private Corporation

John Williams on the true state of the US Economy

John Williams of Shadow Stats : what you have to keep in mind is that the FED is a private corporation owned by commercial banking and commercial banking interests , although it may have a mandate from the federal government that you have to work to maintain sustainable economic growth and and you have ti contain inflation its primary mission basically is to keep the banking system afloat and healthy , and the banking system is not healthy when there was fear of a system collapse back in 2007 , in 2008 whe the TARP was introduced , they weren't kidding the system was on the brink of collapse.....

Doug Casey : The Science of Economics is Corrupt

Economist, author, and entrepreneur Doug Casey speech at the 2011 Casey Research Spring Summit in Boca Raton, Florida. Listen as the chairman of Casey Research discusses how America's lack of a philosophical anchor, atmosphere of fear, and a reflexive belief in the government are contributing to the decline of America.

The growth of China M2 money supply

The growth of China’s M2 money supply, which has exceeded the U.S. total, signals further declines in commodities and stocks as it boosts prospects for more interest- rate increases in the world’s second-largest economy, according to investor Marc Faber. in Bloomberg

James Turk : Hyperinflation the Banking system and fiat currencies

James Turk explains how Hyperinflation occurs the difference between the paper currency hyperinflation and the deposit currency hyperinflation..., the Banking system and fiat currencies



James Turk :...Hyperinflation manifests itself in two different ways , and the way it manifests itself depends on the nature of the banking system in the country where the hyperinflation occurs , so for example , we all know the pictures of the Weimar Republic in the 1920s and people moving wheel barrels full of paper currency around or we have seen similar thing just happened recently in Zimbabwe or 15 years ago we seen the same thing in Yugoslavia in those economies the banking system was not sophisticated very few people had bank accounts and commerce was conducted by moving paper from hand to hand in other words it's paper currency , ..that's what I call a paper currency hyperinflation and it occurs because there is a very unsophisticated banking system very few people had bank accounts and most commerce is conducted by actually moving paper currency around to complete the transaction ...

Marc Faber : we are in a money-printing environment

Marc Faber : I think that there will be some decoupling, and whenever you look at the markets,different sectors perform differently, but generally speaking, in the same direction. So if someone were to take a very bearish view about emerging stock markets, I do not think he should go into European stocks or U.S. stocks. I take a more balanced view. I think we are in a money-printing environment. If something happens in China, they will print even more than the U.S. prints. If something in happens in Europe, they will also print money They are going to print money everywhere, and with interest rates, essentially on short-term deposits, being zero, or below zero, inflation-adjusted, in other words, if inflation rates everywhere in the world are higher than the interest rates on short-term deposits, I think, for the investor, the question is really, “How do I invest my money for the long - term?” I think that you cannot make a very bullish case for stocks, but I think you can make a more bullish, or more positive, case for stocks than say, for U.S. government bonds,because the specifics in the U.S. will stay very high, and the quality of the banks will diminish and the interest payments as a percent of tax revenues will go up, and so forth. So whether you believe in, let’s say, an economic recovery and world growth, or if you believe in disaster, in either case you are probably better off in equities than in bonds.In terms of returns, I agree with you, I do not think that the returns will be fantastic, but if you print money it is very difficult to say what the returns will be, because it is not stocks that adjust on the downside, but it is the currency that adjusts on the downside. So in theory, it is possible that the Dow could double if you print money, or it could even go up10 times, depending on how much money you print, and with Mr. Bernanke at the Fed, I think it is quite likely that a lot of money will be printed. "

Marc Faber McAlvany 25 fev 11

Jim Sinclair on the Inflation Deflation Debate

Jim Sinclair on the Inflation Deflation Debate



Jim Sinclair (via http://jsmineset.com/about/) is primarily a precious metals specialist and a commodities and foreign currency trader. He founded the Sinclair Group of Companies (1977), which offered full brokerage services in stocks, bonds, and other investment vehicles. The companies, which operated branches in New York , Kansas City, Toronto , Chicago , London and Geneva , were sold in 1983.

From 1981 to 1984, Mr. Sinclair served as a Precious Metals Advisor to Hunt Oil and the Hunt family for the liquidation of their silver position as a prerequisite for the $1 billion loan arranged by the Chairman of the Federal Reserve, Paul Volcker.

He was also a General Partner and Member of the Executive Committee of two New York Stock Exchange firms and President of Sinclair Global Clearing Corporation (commodity clearing firm) and Global Arbitrage (derivative dealer in metals and currencies).

In April 2002, shareholders of Tanzanian Royalty Exploration (formerly Tan Range Exploration) approved the acquisition of Tanzania American International, a company managed by the Sinclair family. Following this transaction, Mr. Sinclair became Chairman of Tanzanian Royalty and now leads its efforts to become a gold producer and royalty company.

He has authored numerous magazine articles and three books dealing with a variety of investment subjects, including precious metals, trading strategies and geopolitical events, and their relationship to world economics and the markets. He is a frequent and enormously popular speaker at gold investment conferences and his commentary on gold and other financial issues garners extensive media coverage at home and abroad.

In January 2003, Mr. Sinclair launched, “Jim Sinclair’s MineSet,” which now hosts his gold commentary and is intended as a free service to the gold community.

David Rosenberg, April Jobs Data Shows Squeeze in Wages

David Rosenberg, The Headline is about the only good number that was in the report , we have actually lost a 190 thousand jobs , the fact that the employed population ration actually went down by a tenth of the percentage point , ..the question is what industry is filling these jobs , .what matters for spending and GDP is income ...we are climbing out of a deep hole....David Rosenberg, is chief economist at Gluskin Sheff & Associates, talks about the April U.S. jobs report and the outlook for the economy. Payrolls increased by 244,000 workers last month, the biggest gain since May 2010.

Marc Faber : stocks will go up because of money printing

Marc Faber   “The more things will go bad, the worse things become, the more the money printer at the Fed, Mr. Bernanke, will print,” “He will print endlessly. Even if things go bad economically, you could have no revenues at companies and no earnings and stocks will go up because of money printing.”

Marc Faber : Gold is Cheap

Marc Faber in an interview with moneycontrol recently said that he does not believe that Gold is in any kind of bubble , in fact it is still cheap at these prices :..."... In gold and silver terms, Marc faber said , the Dow Jones over the last 10 years has already lost more than 80% of its value. "If it were a bubble a lot of people would have gold. The whole world would be trading gold 24 hrs a day. But I don’t think it’s really a bubble. I think may be gold is cheap."

Marc Faber : money is losing its purchasing power if you keep it on deposit

Marc Faber : "The absolute level of interest rates doesn't tell you whether there is tightening or not. In China, they increased the interest rates over the several times. But with inflation running at between 8-10% per annum and the deposit rate at 3.25%, money is losing its purchasing power if you keep it on deposit,"
in moneycontrol.com

Marc Faber expects a 20% correction in the Silver Market

Dr. Marc Faber has just released his latest issue of the GBD Gloom, Boom, and Doom Report where he gives his outlook for the stock market, gold and silver , emerging markets, and other financial issues. regarding the precious metals Marc Faber is still bullish on Gold as a long term investment however he is more cautious when it comes to silver because due to the recent sharp surge in silver's price in a relatively short time ( Silver gained 500% in two years and practically doubled in almost three months only ) Marc Faber expects to see a 20% correction

Mohamed El-Erian - the Killing of Osama golden opportunity for the capitalism

Mohamed El-Erian is hopeful that this is a golden opportunity for the capitalism , this is a multispeed world different parts of the world are doing different things some people have inflation problem other people have growth problem says El-Erian , it sounds pretty chaotic when you look at it from the outside

Marc Faber outlook for The U.S. equities market

Dr. Marc Faber in an interview with Radio host McAlavany last February when  he was asked about his outlook for the U.S. equities market : ."...We didn’t have a decent run, we had a fantastic run. The S&P has doubled, and in emerging markets we have price increases that are far better than a doubling of the indices. In general, emerging economy stock markets since 2003 have way out performed the S&P. So we had unbelievable moves in markets. In the U.S. we only had on two previous occasions a move such as we had in the last 27 months from 666 on the S&P to over 1300, and that was in 1934, coming off a major low when the market had declined by 90% between 1929 and 1932, and then another move into between 1934 and 1937,and that was then followed by renewed extreme weakness in the markets.So stocks have done fantastically well, and I was fortunate to be relatively positive about equities between October 2008 and March 2009.But if someone had asked me, “Do you think the S&P will double?” I would not have expected a doubling.I would have thought the market would rebound, maybe by 40-50%, but not a doubling.The markets in the world, between March 2009 and today, have done actually much better than anybody had expected. Starting in November 2010, the American market started to weaken, and I think that we have just begun a more significant correction in the U.S., whereby I expect the fact that international investors over-weighted the American economic stock market until recently, and under-weighted the U.S., and now money is flowing back into the U.S. I think emerging stock markets will go down further, but I would probably just stay out of the U.S...."

Joseph Stiglitz on Quantitative Easing

Joseph Stiglitz , the Nobel Prize-winning Economics Professor from Columbia and Joseph Gagnon of the Peterson Institute for International Economics and , debating about the topic of QE II quantitative easing.


Joe Stiglitz and Joe Gagnon Debate QEII from Roosevelt Institute on Vimeo.

China has a trade deficit with Asia - Marc Faber

China has a trade deficit with Asia


Dr. Marc Faber Chairman of Faber Limited speaking to Mike Maloney about the chinese trade deficit with the rest of Asia , The dollar and of course Gold and Silver ....: ...what is happening is because the productivity in China has increased so much in the last couple of years they have become very competitive and so they have a growing trade surplus with the United States at the same time what has happened is if you look at the exports from Asia to the US then before in the seventies when China was still a communist country the big growth engines in Asia were Japan Taiwan and South Korea to some extent Honk Kong and Singapore these countries used to export to the US , now a lot of these countries are exporting components to China they are then processed in China and shipped to the United States , so whereas China has a growing trade and current account surplus with the US they have a growing trade deficit with the rest of Asia and of course because of the huge appetite for the raw materiel they have a trade deficit also with OPEC but you have to give the Chinese credit whereas the US has a trade deficit with OPEC over a hundred billion dollars the Chinese have a trade deficit with OPEC of only a 4 billion dollars because they're very good at selling goods to countries that supply them with raw materiel ....

Ben Bernanke Q&A

Federal Reserve Chairman Ben Bernanke Press Conference with Q & A .Fed Chairman Ben Bernanke takes questions on the FOMC decision, the fate of QE2 and the Federal Reserve's plan for dealing with the creeping inflation.



See the first-of-its-kind Federal Reserve press briefing. Ben Bernanke--Chair of the Fed, U.S. National Economic Planner, Manipulator of the Money Supply, Master of the Debased and Hopelessly Inflated Dollar, Taker of Purchasing Power, Mauler of the Mortgage Market, Great Enabler of Moral Hazard and Second-To-None Stealer of American's Savings---presumably felt the need to explain his stellar record to us. This guy is an all-star. Grab some popcorn

Ben Bernanke Federal Reserve Press Conference

Ben Bernanke Federal Reserve Press Conference . The full conference was an hour long, Bernanke speaks thew gold and silver prices soar , I love it ...we should thank this guy someday for making us richer just by opening his mouth....by the way I wonder where this guy lives , he keeps on talking about 'recovery' improving 'employment' rate ...etc...I am just speechless...

Catherine Austin Fitts - the next leg of housing recession has not even begun

Catherine Austin Fitts we have not seen a free market for long time we see a highly politicized economy , the next leg of housing recession has not even begun




Catherine Austin Fitts of Solari.com joins us to discuss ways that people can stop empowering the system that is enslaving them by withdrawing support for large banks and financial services. Former Assistant Secretary of Housing under George H.W. Bush Catherine Austin Fitts blows the whistle on how the financial terrorists have deliberately imploded the US economy and transferred gargantuan amounts of wealth offshore as a means of sacrificing the American middle class. Fitts documents how trillions of dollars went missing from government coffers in the 90's and how she was personally targeted for exposing the fraud.
Fitts explains how every dollar of debt issued to service every war, building project, and government program since the American Revolution up to around 2 years ago - around $12 trillion - has been doubled again in just the last 18 months alone with the bank bailouts. "We're literally witnessing the leveraged buyout of a country and that's why I call it a financial coup d'état, and that's what the bailout is for," states Fitts.

Ben Bernanke Press Conference

All Americans concerned about the money were glued to the tv set today when fed chief Ben Bernanke hosts a press conference. the first press conference ever by a chairman of the federal reserve.
Ben Bernanke :"It would be an extremely dangerous and very likely recovery ending event."

Marc Faber Maybe in gold terms, we could one day reach a ratio of Dow Jones to gold of 1-to-1

Marc Faber in a recent Interview with MacAlavany said : In a money-printing environment, it is very difficult to know what is actually cheap and what is expensive. Is the price of wheat high, or is it low? Inflation-adjusted,it is extremely low. In nominal terms, it is relatively high. I believe that, in March 2009when the S&P was at 666, the market was actually much cheaper than is generally perceived, because of the money-printing, and I do not anticipate that we will see 666 onthe S&P again, in nominal terms.In other words, they are going to print so much money that the S&P could be at, perhaps,2000, but in real terms, it could be down below the lows of March 6, 2009. Maybe in gold terms, we could one day reach a ratio of Dow Jones to gold of 1-to-1, as we were in1980. In other words, the Dow could be perhaps at 10,000 or 12,000, and gold could beat the same level.That is why I am advising people to accumulate gold. Can gold have a correction? Yes,there has been a little bit too much euphoria about gold, and we may have a correction,but I do not think we are in a bubble in the price of gold. In fact, I could make a case that gold, at this level of $1400 an ounce, is cheaper than in 1999, when I look at the unfunded liability growth of the U.S., at the credit growth of the U.S., and at the household growth, and at the money printing, and at all the wealth creation that happens in China and Russia.Just consider, when I started to work in the 1970s, it was said there were two billionaires in the world. One was Rockefeller, and the other one was Mr. Ludwig. Then in 1980there were, I think, six or eight billionaires. Now you have thousands of billionaires.The paper money has become of lower value, and in that environment, it is conceivable that actually stocks do not go down a lot, in nominal terms, but they go down inflation-adjusted, and not inflation-adjusted by what the government is publishing, but in inflation-adjusted terms, as John Williams points out. He says inflation is running at 8%per annum. I have it slightly lower, depending also on the household, whether you have children, or no children, and where you live, but I would say between 5-10% in America is probably a realistic figure, and between 8-12% in countries like India, China, Viet Nam.

Marc Faber on Inflation in China

in a recent interview with ET Now Dr Marc Faber gives his view on the Inflation in China : There are some question marks about the data published by China. My view would be that inflation in China is just about the same level as in India. In other words, it is much higher than what the government is publishing. So, real growth and inflation-adjusted growth is probably much lower than what they published. If you look at the bank lending rate and the deposit rate, we have a very negative real interest rate, in other worlds, interest rate adjusted for inflation. That leads inevitably to some kind of a bubble and every bubble bursts. Now, if you ask me when will the bubble burst, tomorrow or in three years, I do not know. I just say that it is a dangerous situation. Moreover, if you have very strong economic growth and the stock market does not perform well and China has been a really bad performer in 2010, then I would be a little bit careful about making large commitments to China.

Marc Faber on Negative Interest Rates

Dr. Marc Faber would vote for negative interest rates if it were possible."It means that the Fed will keep interest rates below the rate of cost of living increases essentially for as far as the eye can see. In that environment obviously cash and bonds are dangerous. They have to move into asset classes like equities, commodities, real estate, art and collectibles — anything that essentially cannot be multiplied at the same rate as paper money that is a subject to the printing presses of Mr Bernanke," he said in a recent interview with the Indian channel CNBC TV18

Money is losing its purchasing power

Marc Faber speaking with CNBC TV 18on last Monday : "The absolute level of interest rates doesn’t tell you whether there is tightening or not. In China, they increased the interest rates over the several times. But with inflation running at between 8-10% per annum and the deposit rate at 3.25%, money is losing its purchasing power if you keep it on deposit,"

Asset markets move up and down

"Asset markets move up and down and they go from a rising phase into boom phase. Then to a collapse and the people are gloomy and there is gloom and doom around and then the markets poke them out and then the whole process starts again," Marc Faber in a recent interview (11 Apr) with CNBC TV 18

The US dollar is in a contest for the ugliest currency says Marc Faber

Dr Marc Faber speaking to CNBC Monday said that eventually the Dollar will go to its intrinsic value namely ZERO and that for now we are in a contest for the ugliest currency : " well basically I do not think that people should punt on Gold but they should be their own central bank and gradually accumulate gold reserves as a currency and they should basically hold it physically but not in the US outside the US " " I think there is the risk that the US will once again as they did in 1933 collect the gold expropriate the gold they will not take away and not pay anything they'll pay probably the market price and after they will revalue it it by say five times "
Marc Faber : I think you are right in saying that we are in a contest for the ugliest currency , but I disagree with the fact that people are heavily positioned in Euros , I have a lot to do with very well to do people around the world , Latin Americans US citizens Europeans Asians i would say most of them have at least 70 to 80 percent of their money in US dollars now occasionally the market participants the speculators may be heavily in the Euro and negative about the US dollar but by in large there a huge over hand of US dollars globally and I'll tell you if people could sell their dollars and move to something they believed in they would do it , but I believe that the best currency is still gold and silver and this is not the perception of most people they think that gold and silver are speculative investments "
"I think that conceivably the US dollar here could rebound but I maintain my longer term projection , the value of the US dollar will be precisely its intrinsic value namely ZERO precisely ZERO , yes I told you two years ago and I still maintain that "

Marc Faber Full Interview with CNBC Asia 18 Apr 2011

Dr Marc Faber, editor & publisher of "The Gloom, Boom & Doom Report", was today interviewed by CNBC about the American budget deficit he offers his views on how to tackle the U.S. budget deficit, as well as how that is affecting his U.S. investment strategy. " I do not think that it is possible to reduce the deficit meaningfully unless you increase taxation significantly and unless you cut spending meaningfully , and there fore having the Democrats on one side o the Aisle and the Republicans on the other I do not believe that they will compromise , i think the debt ceiling will be increased yes , but I think the deficit will stay around minimum one and half trillion dollars for the foreseeable future "




Marc Faber " well basically I do not think that people should punt on Gold but they should be their own central bank and gradually accumulate gold reserves as a currency and they should basically hold it physically but not in the US outside the US " " I think there is the risk that the US will once again as they did in 1933 collect the gold expropriate the gold they will not take away and not pay anything they'll pay probably the market price and after they will revalue it it by say five times "
Marc Faber : I think you are right in saying that we are in a contest for the ugliest currency , but I disagree with the fact that people are heavily positioned in Euros , I have a lot to do with very well to do people around the world , Latin Americans US citizens Europeans Asians i would say most of them have at least 70 to 80 percent of their money in US dollars now occasionally the market participants the speculators may be heavily in the Euro and negative about the US dollar but by in large there a huge over hand of US dollars globally and I'll tell you if people could sell their dollars and move to something they believed in they would do it , but I believe that the best currency is still gold and silver and this is not the perception of most people they think that gold and silver are speculative investments "
"I think that conceivably the US dollar here could rebound but I maintain my longer term projection , the value of the US dollar will be precisely its intrinsic value namely ZERO precisely ZERO , yes I told you two years ago and I still maintain that "

Marc Faber on How to tackle the U.S. budget deficit

Dr Marc Faber, editor & publisher of "The Gloom, Boom & Doom Report", was today interviewed by CNBC about the American budget deficit he offers his views on how to tackle the U.S. budget deficit, as well as how that is affecting his U.S. investment strategy. " I do not think that it is possible to reduce the deficit meaningfully unless you increase taxation significantly and unless you cut spending meaningfully , and there fore having the Democrats on one side o the Aisle and the Republicans on the other I do not believe that they will compromise , i think the debt ceiling will be increased yes , but I think the deficit will stay around minimum one and half trillion dollars for the foreseeable future "

Marc Faber : US could expropriate Gold

Marc Faber, editor & publisher of "The Gloom, Boom & Doom Report" talks about his preferred ways to invest in gold  " well basically I do not think that people should punt on Gold but they should be their own central bank and gradually accumulate gold reserves as a currency and they should basically hold it physically but not in the US outside the US " " I think there is the risk that the US will once again as they did in 1933 collect the gold expropriate the gold they will not take away and not pay anything they'll pay probably the market price and after they will revalue it it by say five times "

Marc Faber : the best currency is gold and silver

Dr. Marc Faber discusses with CNBC on 17 Apr 2011 the outlook for the U.S. dollar and how that will impact the price of gold and silver. Marc Faber editor & publisher of "The Gloom, Boom & Doom Report" : outlook for the U.S. dollar and the impact on gold and silver prices
Marc Faber : I think you are right in saying that we are in a contest for the ugliest currency , but I disagree with the fact that people are heavily positioned in Euros , I have a lot to do with very well to do people around the world , Latin Americans US citizens Europeans Asians i would say most of them have at least 70 to 80 percent of their money in US dollars now occasionally the market participants the speculators may be heavily in the Euro and negative about the US dollar but by in large there a huge over hand of US dollars globally and I'll tell you if people could sell their dollars and move to something they believed in they would do it , but I believe that the best currency is still gold and silver and this is not the perception of most people they think that gold and silver are speculative investments "
"I think that conceivably the US dollar here could rebound but I maintain my longer term projection , the value of the US dollar will be precisely its intrinsic value namely ZERO precisely ZERO , yes I told you two years ago and I still maintain that "

Joseph Stiglitz on a global reserve currency

Joseph Stiglitz on a global reserve currency


Joseph Stiglitz is a Nobel Prize winning economist, Columbia University professor, and former Senior Vice President and Chief Economist of the World Bank. In this interview at INET's Bretton Woods conference in New Hampshire he explains why he thinks the US dollar as the reserve currency is hurting the entire world economy
Joseph Stiglitz : What I've argued for is a creation of a global reserve currency. Reserve currencies are, you might think of a store value and the dollar has been very unstable , understandable given the difficulties of the American economy, our performance was not a stellar. But the fact that in a modern globalized economy, 21st Century, it is an anachronism that a single currency would play the pivotal role that the dollar has played. What I argue in my book "Making Globalization Work" is that the dollar reserve currency system contributes to inequality ... and it actually contributes to the weakening of the global economy, because countries are setting aside literally hundreds of billions of dollars, you might say, of precautionary savings. That's money not spent.

Marc Faber about The bond market and what should the FED do to save it

Dr. Marc Faber answering a question from radio host MacAlavany about measures might the Fed and the Treasury employ to defend the bond market had this to say : ..."..I think they do not necessarily want to support the bond market, because the debt issuance is so huge, they almost have to monetize part of the debt. I have read Treasury reports in 2010 by Tim Geithner saying the U.S. government debt increased by more than 2 trillion dollars during that period of time. The deficit, in my opinion, mathematically,cannot come down, because 80% of the budget is mandatory expenditures, in other words, you cannot cut them. Legally, they have to be met.Of the remaining 20%, you can cut a little bit, but not that much, because then services collapse. In my view, the fiscal deficit of the U.S. will stay around 1½ trillion dollars for as far as the eye can see, and maybe even go to 2, or 2½ trillion dollars, and then the interest expenditures on the debt go up. So actually, over time, in my view, unless taxes are increased significantly, and spending is cut significantly, not by a little bit here, a little bit there, the budget will never again be balanced, and that will then necessitate, in time, QE-III, QE-IV, and QE-V. Taxes cannot be increased dramatically, because if you increase them very substantially, we will go straight back into a recession..."

Joseph Stiglitz on Carbon Emissions

Joseph Stiglitz is a Nobel Prize winning economist, Columbia University professor, and former Senior Vice President and Chief Economist of the World Bank he thinks equal per capita emission might just be the best idea of an equitable global solution for climate change.: ...first of all the notion that you need that prices are very important for giving the signals about scarcety , scarcity is limit of space you might see the carbon space out there and therefore you need to price that , you need to price in fact people use of that carbon space , I think most economists would agree with that , there is an issue here which is how you compensate people for either past damages to maintain their standard of living there is a set of issues about compensation that are really quite different , and I think it is quite important to try to separate out this issue of how do we got inefficient usage of an inefficient system of reducing carbon emissions and this other one of how do we compensate people for the changes that are going on ......


Joseph Stiglitz on Carbon Emissions

Inflation seriously on the rise , no matter how you slice it

Inflation is seriously on the rise , no matter how you slice it says Kudlow and he explains why with charts and numbers


We are talking about the Bernanke sea of liquidity, gold, silver and oil prices rising today. i submit we have an inflation problem in this country says Kudlow we have more evidence coming out today with the producer price report. " no matter how you slice it, inflation is seriously on the rise. I have looked at this thing left, right and center. first of all, we are going to measure this. ppi went up 0.7% today. on a three-month basis we are holding. this is not good. we are now holding at around 12% to 13% at an annual rate over three-month periods. this is not good. we were down around 0% a year ago. you can see the move. you can see the move. this is the total ppi. next up. you want to look at the core ppi? you want to be dumb enough to take out food and energy prices? fine. check this out. same story. three-month annualized rate. we are running now at about 4.5%. this is excluding food and energy which is a dumb thing to do. business is at wholesale pay food and energy prices for their inputs, whatever it is they are doing. here we are again. the core ppi. now, next up, inside the producer price index, a lot of people missed this. consumer goods. consumer goods component feeds right into the consumer price index on the cpi. and here, too, look at the upward turn. we are now running about 15%, 16.5% for the latest three months including march. today consumer goods are up 0.8%. this goes into the cpi. " says Kudlow