Category: Economics & Investing

U.S. Changing Credit Card Liability on October 1, 2015. – D.F. o o o Record number of too big to fail banks: 59 banks in the United States now have over $20 billion in assets. Top 3 US banks hold $6.3 trillion in assets. o o o Government Debt Threatens To Send U.S. Economy Into Death Spiral, Social Security Trust Fund Gone In 2029, Entitlement And Debt Payments Will Consume All Taxes In 2032 o o o Watchdog: IRS cuts had minimal impact on tax collections

ECB not sure if Greek banks would open on Monday. – G.P. o o o The Economic Depression In Greece Deepens As Tsipras Prepares To Deliver ‘The Great No’. – H.L. o o o Items from Mr. Econocobas: Game Over For Greek Banks: Depositors Yank €2 Billion In Past Three Days Bank of Greece Issues Grave Warning of Grexit as British Government Prepares for Fallout Greece Could be Forced to Lock Down Savers’ Cash as Debt Crisis Worsens U.S. Mortgage Applications Fall as Rates Highest Since October 2014

Greetings Hugh, I used to follow [Robert] Prechter somewhat closely back in the dotcom and housing bubble days because my Dad was a huge fan and I’ve read most of his books (in that regard I concur Conquer the Crash is a worthwhile read that, unlike most of his writing, is accessible to the layman). While I find his unconventional “Socionomics” theories relating social mood and human behavior generally reasonable and I still analyze world events in light of them, I long ago decided they may be useful to the average person for explaining history and generally anticipating future macro …

Greek crisis: Protesters demand end to austerity, with EU future in doubt – as it happened. – JBG o o o China Dumps Record $120 Billion In U.S. Treasurys In Two Months Via Belgium o o o Items from Mr. Econocobas: Bank of Greece Warns of ‘Uncontrollable Crisis” Without a Deal Greeks Stashing Bundles of Cash in Homes in Fear of ‘Grexit’… The Next Great European Financial Crisis Has Begun – Not certain a “deal” wont be reached to kick the can a little further, but a “grexit” or default is possible. Video: Gordon Long-Cashless Society Idea Will Accelerate in …

The looming retirement crisis: 10,000 baby boomers a day turn 65 and most are inadequately prepared for retirement. Half of elderly Americans in poverty without Social Security. o o o Pension tidal wave is about to crash down on taxpayers. – B.B. o o o Writing’s On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It “Non-Confiscatable”. – JBG o o o Barclays thinks artificial intelligence is the future of banking. – D.S. o o o Budget office: U.S. debt picture has ‘worsened dramatically’. – G.G.

Saudi Arabia Opens $585B Stock Market to Foreign Investors. – K.B. o o o Treasury Reveals What JPMorgan Was Really Doing With London Whale Trades. – P.K. o o o 90 Days: Treasury Says Debt Has Been Frozen at $18,112,975,000,000. – B.B. o o o America Is Addicted To Debt o o o Taxpayers Billed $128,781 for Michelle Obama to See Cultural Sites in Venice. – B.B.

The Dark Side Of The Shale Bust o o o Housing ain’t cheap… “The homeownership rate will continue to drop as more people choose renting over owning…” o o o Beef Prices Hit Record: Up 30% In Past Two Years o o o Items from Mr. Econocobas: The Punch Bowl Stays

Senator warns of another attempt to pass Obamatrade. – J.F. o o o INDIAN SILVER IMPORTS: On Track To Smash All Records o o o Silver Lows and Bubble Bonds o o o The EU has shrunk as a percentage of the world economy o o o Is Something Really Big About To Happen?

Is Greece at risk of becoming the next Zimbabwe?. – JBG o o o THE SYSTEM IS COLLAPSING: Time To Get Physical o o o How Do Companies Quietly Raise Prices? They Do This – G.G. [May require a login] o o o Items from Mr. Econocobas: ‘Who’ Really Runs Your State? – I don’t really believe that is who’s running the state in most cases, but it’s an interesting map. Did Greece’s Time Just Run Out?

As currency dies, Zimbabweans will get $5 for 175 quadrillion local dollars. – M.W. o o o Interview on current events with Bix Weir o o o Items from Mr. Econocobas: Students Will Have $3.5 Billion of Student Loan Debt Wiped Out & They Are Not Happy About It– This is just craziness– more debt. We are all on the hook for select people’s mistakes. Bird Flu Leads to Egg Shortage, Higher Prices Fund Managers Dump Government Bonds, Rout Continues

Get ready for a 4,000-point Dow drop. – G.G. o o o Bond crash across the world as deflation trade goes horribly wrong. – G.P. o o o Items from Mr. Econocobas: A Stock Market ‘Leading Indicator’ Is Tanking. But Why? As Seen In Greece: “I Rushed To The Bank” And The Return Of ATM Lines? The Warren Buffet Economy——Why Its Days Are Numbered (Part 1)

HJL, That was fascinating reading. It is important to read the article AND the comments. I regard myself as middle class and have read the WSJ since 1978, when my Economics professor required it. Those people commenting regard themselves as middle class, and they sound like me. I look at the people that the media and democrats call middle class, and I don’t see myself. My own spending habits revolve around expenditures that lower my cost of living, ensure I can provide for my family (preps), and the acquisition of new assets that pay me or improved assets that will …

Why you should care that Robert Prechter is warning of a ‘sharp collapse’ in stocks. – G.G. o o o Video: 2015 Systemic Market Crash. – G.M. o o o MUST SEE CHART: Major Bank Fraud Adds Up To A Lot Of Silver o o o Items from Mr. Econocobas: Greece Delivers Reform Plan to EU, Warns on Cost of Failure Guess How Many Nations In The World Do Not Have A Central Bank?

Gold At $64,000 – Bloomberg’s ‘China Gold Price’. – B.B. o o o 103 Years Later, Wall Street Turned Out Just As One Man Predicted. – H.L. o o o Items from Mr. Econocobas: U.S. Authorities Say “Uncomfortable” with Strong Currency; Dollar Drops Experts Worry that ‘Phony Numbers’ Are Misleading Investors – This is far from the only smoke and mirrors in the room… Stay Out Of Harm’s Way—-The Casino Is Fixing To Blow