$2,672,414,000,000: Federal Taxes Set Record Through July; $17,955 Per Worker–Feds Still Run $465.5B Deficit – B.B. o o o Desolation Row: the Silver Market – G.C. o o o Massive Commonwealth Bank glitch takes cash from customers – G.P. o o o Europe in crisis: everyone from Putin to ordinary savers is stockpiling gold – GJM o o o Why This Bubble Is Actually WORSE Than The Internet Tech Bubble
150 Days: Treasury Says Debt Has Been Frozen at $18,112,975,000,000 – G.P. o o o An Economic Earthquake Is Rumbling – GJM o o o The Coming Market Crash Will Wipe Out Global Silver Supply o o o If The Economy Is Recovering, Then How Is This Possible o o o Better Times Ahead For Oil, If You Can Believe It
China Rattles Markets With Yuan Devaluation – G.P. o o o Trends in low wage America: 1.4 million waiter/bartender jobs gained while 1.4 million manufacturing jobs lost since 2007. Top 4 employment sectors pay $10 an hour or less. John Kerry Warns “Dollar Will Cease To Be Reserve Currency Of The World” If Iran Deal Rejected – P.W. “Scaremongery… or maybe the whole point, as Obama’s former chief economist noted, is to lose reserve status. Take that China!!” o o o Items from Mr. Econocobas: The Long-Range Social Security/Medicare Deficit: $72 Trillion And Counting The Fed Is Out Of Options, …
From our friends over on the Thoughts from Frank and Fern blog: Brace For Impact When Will Oil Prices Turn Around? o o o Dollar Death Sentence o o o Items from Mr. Econocobas: This Wasn’t Supposed To Happen: Household Spending Expectations Crash David Stockman CNBC Interview: Tops In—–Next Comes An Epochal Deflation Deflation Is Winning – Beware!
Gerald Celente: A Stock Market Crash Will Happen By The End Of 2015 HJL adds: While I hear increasing warnings about this impending event, don’t discount the ability of TPTB to kick the can down the road just a little bit more, perhaps until after the election cycle of 2016. o o o “Bear Markets Are Driven By Fear, And Fear Has Taken Over Many European Markets. Don’t Wait Until It’s Too Late To Get Out.” o o o The Price Of ‘C’ In China o o o Don’t Put All Your (Nest) Eggs in One Basket
The College Bubble 2.0: In just one year, loan debt is up nearly 30% …Half of young graduates are either unemployed or only working part-time… The massive increase in applicants with degrees, the value of college degrees is drastically falling o o o The recent dips in the spot silver and gold markets are indicative of both manipulation in the global oil market and panicky investors in Europe shifting into U.S. dollar-denominated investments. (The investing outflows from Europe are pushing the U.S. Dollar up, and precious metals down.) With spot silver at around $14.70 per Troy ounce and gold at …
The spot prices of silver and gold recently dipped to $14.70 USD and $1,006 USD, respectively. This short-term aberration in long-term market trends can be attributed to both the sag in oil prices and to near panic shifts by European investors into the United States equities following news of the Greek bailout and a possible Euro collapse. I recommend that anyone who sees the need to diversify their portfolio do so NOW. If you wait until October, you may miss the boat. Physical silver is the logical choice. If you already have your beans and bullets squared away, then I …
Big Production Declines From The World Largest Silver Producers o o o Remember those horrible, Sacajawea dollar coins they tried to Force on us ? – T.P. o o o How Russia’s Energy Giant Imploded o o o Fed Lunacy Is To Blame For The Coming Crash – B.B.
Global Oil Supply More Fragile Than You Think o o o “I Sure Am Glad There’s No Inflation” – B.B. o o o San Francisco living in containers and NorCal tents: The housing mania is causing people to pay high prices for what amounts to camping. o o o The Crash And A New Depression – The Seeds For The Next Crisis Have Already Been Sown – G.G. o o o Saudi Arabia may go broke before the US oil industry buckles
8 Financial Experts That Are Warning That A Great Financial Crisis Is Imminent – B.B. o o o Fed Finally Figures Out Soaring Student Debt Is Reason For Exploding College Costs o o o Iceland Recovering Fastest in Europe After Jailing Bankers Instead of Bailing them Out – C.C. o o o Comparing the cost of living between 1975 and 2015: You are being lied and fooled when it comes to inflation data and the cost of living. o o o Items from Mr. Econocobas: Video Interview: Chris Martenson-$40 Trillion Lost in Next Crash – Great interview worth listening if …
Dutch king declares the end of the welfare state – P.S. o o o Firm OPEC And U.S Production Keep Hopes For Higher Oil Prices Down o o o The economy chugs along with consumers going into deep credit card debt: Credit card debt surges in top 25 US metro areas according to Equifax data. o o o The Insanity that is San Francisco Real Estate: Median home price is 34% higher than previous peak bubble price and stands at $1,360,000. It is ironic that a place that was made unique by lower income artists and free spirits in the …
Law Firm Discovers Interesting Fact About Most Bankrupt Places in America – JBG o o o Recession Risk Mounting For Canada o o o ‘Thieves Emporium’: Part 4 – The State Strikes Back o o o Obama Owns Worst Economic Numbers In 80 Years, Done More Damage To This Country Than Anyone
Some progressives never learn: CEO Raises Salaries to $70K for EVERY Employee, Now has to Rent Out his Own Home to Make Ends Meet o o o Puerto Rico: No money available to make $58M bond payment – G.G. o o o Big Chunk Of JP Morgan’s Gold Holdings Withdrawn In One Day o o o It Won’t End Well: Unemployment In Italy Has Hit All Time New Highs. Canada’s Economy Shrinks Again, On A Verge Of A Recession. U.S. Wage Growth Is The Weakest Sine 1982.
Silver – A Century of Prices o o o The latest government trust fund to go bankrupt o o o Fear Spreading In The Global Financial System Pushes Gold & Silver Eagle Sales To New Highs o o o Pensions and Medicare after an Economic Collapse – B.B.
Rental Apocalypse: US homeownership collapses to 48 year low while rental rates continue to climb. o o o Central banks will disagree; Keynesian economists probably disagree; Too-Big-To-Fail banks don’t care … o o o Items from Mr. Econocobas: 2nd Quarter GDP Misses Expectations Alan Greenspan: This is ‘Extremely Dangerous’ – While what he is saying is true, Greenspan has no room to lecture anyone, considering his abysmal track record at inflating debt and destroying an economy. US Economy Grew At 2.3% In Q2, Below Expectations, “Winter” Quarters Revised Higher On Double Seasonal Adjustments – Venturing further down the “Ministry of …