Category: Economics & Investing

India Versus COMEX: Physical Silver Demand Will Destroy Paper Rigged Markets o o o There are Five Times More Claims on Dollars Than Dollars in Existence (Zero Hedge) Items from The Economics Team: Glencore Could Spark a Lehman Moment for Miners The More Americans Know Congress, the Worse Congress is Rated Atlanta Fed Slashes 3rd Quarter Estimates for Growth (Reuters) U.S. Factories Vulnerable to Chill in Global Economy (Reuters) Investment Banking Business is a Horror Show (Business Insider) Demand for Physical Silver through the Roof (Zero Hedge)

Municipal Bankruptcies and more on the way o o o Paul Caron: 2015 International Tax Competitiveness Ranking: U.S. Is 32 Out Of 34 OECD Countries o o o Dr. Housing Bubble reports: Chicago overtakes Detroit as the worst performing housing market: San Diego outperforms while Los Angeles hits a snag. Items from The Economics Team: Ron Paul Rages “They” Refuse To Learn From Their Mistakes – Put perfectly… (No surprise that this is from Ron Paul.) Year End Government Spending Spree – Spend It or Lose It Leads to Government Waste of Taxpayer Dollars American Manufacturing is in Recession

Why US Rates Can Never Rise: In 1 Awkward Chart o o o The Mises Institute Podcast interviews Bill Bonner o o o At The Blaze: You Might Have Gotten a New Credit Card With a New Chip Embedded in the Front — Here’s What You Need to Know About It Items from The Economics Team: UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal Swiss Regulator Names Seven Banks in Precious Metals Probe Understand and Prevent Identity Theft

Preparing For Collapse: Record Eight-Year Silver Buying Intensity Continues o o o Chris Martenson: Buy Gold While You Still Can! — An important update on the supply of physical gold o o o BofA Issues Dramatic Junk Bond Meltdown Warning: This “Train Wreck Is Accelerating” Items from The Economics Team: The Hard Landing Has Arrived: Chinese Coal Company Lays Off 100,000 (Zero Hedge) Wallstreet Braces for Grim 3rd Quarter Earnings Results (Reuters) Clark Howard: Don’t Fall for Scams!

Reader S.J. asked about an update on the Bullion Direct debacle that was first publicized back in June. There is a good summary on the bankruptcy here. Needless to say, this bankruptcy–which involved $25 million in physical gold purchases that were never made on behalf of customers–illustrates just how foolish it is to entrust your precious metals with any institution. Keep them well-hidden at home, folks! o o o Switzerland probes banks over precious metals price fixing o o o Over at Zero Hedge: TheWorst Part Is Central Bankers Know Exactly What They Are Doing Items from The Economics Team: …

Simon Black at Sovereign Man: The global financial system is now resting on a margin of 1.3% o o o Chart of the Day: Shanghai Stock Exchange Composite Index. o o o MarcFaber Warns Americans of Economic Collapse o o o Reader D.S.V. recommended this piece: Taxing Churches Would Marry Church And State Items from The Economics Team: The Next U.S. Recession Will Surprise Investors Give Your Grocery Shopping List an Extreme Makeover Glencore in Freefall as Analysts See Tougher Restructuring Glencore shares are getting obliterated and analysts say shareholders could lose everything

Peter Schiff visits CNBC: The Whole World Has Been Fooled By The Fed’s Con o o o The Stock Market has become the U.S. Economy Items from The Economics Team: 1 in 5 Americans Supported by Social Security How to Trim 3 Budget Categories Dave Ramsey’s 7 Baby Steps to Financial Independence

Reader L.L.H. spotted this at Zero Hedge: Caterpillar Shocker: Industrial Bellwether to Fire Up to 10,000; Slashes Revenue Outlook o o o And here is another good piece at Zero Hedge: Obama’s Recovery in Just Nine Charts o o o Wall Street braces for grim third quarter earnings season

Oil Prices – What Does “Lower For Longer” Actually Mean? o o o Over at the SHTFPlan blog, Mac Slavo reports: Soros, Icahn and Major New Players Rushing Into the Gold Sector: “Things Are In The Works As We Speak” o o o B.B. sent this: Food Stamps In Crosshairs of Shutdown. [JWR’s Comment: State-level disruptions of EBT card payments in the past two years have caused chaos. We can only imagine if this were to happen nationwide.] Items from The Economics Team: The Extinction of Retirement At Zero Hedge: Confessions of an Economics Professor Track Your Banks’ Texas Ratio. …

Reader D.S. suggested this: Is Capitalism Un-Christian? o o o The recent huge layoffs at Deutsche Bank (23,000 employees–about 1/4th of their workforce) got scarcely a ten second mention in the major American mainstream media news outlets. But be advised: This could be an early signal of a global credit crisis in the near future. They would not be laying off this heavily if they expected stability in the world credit markets. – JWR o o o Items from The Economics Team: How Our Family Saves $10,000 a Year The Four Horsemen of Middle Class Destruction

On the Peter Schiff podcast: Yellen Admits Rates Could Stay at Zero Forever. Schiff rightly concludes that interest rates must rise eventually, in response to a global currency crisis, with dire consequences in the bond and equities markets.. o o o The Daily Mail reports: Four out of five migrants are NOT from Syria: EU figures expose the ‘lie’ that the majority of refugees are fleeing war zone o o o The Silver Supply Crunch Continues o o o Some good analysis by Gary Christenson: Gold: The End and The Beginning Items from The Economics Team: How I Live Without …

This is not new, but it is a good reminder: The U.S. Debt Clock. (Thanks to T.A. for the link.) o o o Video: Fund Manager Ray Dalio Is Worried About Next Downturn o o o Bloomberg Video: Goldman Sees 15 Years of Weak Crude as $20 U.S Oil Looms.

25 Myths Broke People Believe. – T.A. o o o The Petrostate Hex – how fluctuating oil prices affect currency valuations – T.A. o o o Items from Mr. Econocobas: Going Back To What Works: Gold Is Money Again – Was aware of what Utah did in 2011 but didn’t know this. Interesting.. Traders Now See Fed First Hiking Rates in 2016 – How many times can these lemmings be fooled? The Fed is not hiking rates unless it did so in a minor way and for a short period of time. It is too dangerous to their credibility to …

UK interest rates may have to be cut, warns Bank of England chief economist o o o Census data shows a record 46.7 million Americans live in poverty. Over 40,000 dollar stores now permeate the United States. o o o Global Angst Lingers, RMG Wealth Management Recommends that Long Term Investors Hold Cash – T.A. o o o Los Angeles is the most unaffordable place to rent with renters spending nearly 50 percent of their income on rents: San Francisco is the most expensive place to purchase a home.