Category: Economics & Investing

HJL, If I really needed to get a reverse mortgage, I would swallow hard and do it, but….I wanted to add my bit of information on what I discovered on reverse mortgages. Most of what is said is glossy sales pamphlet type info; there’s not much substance. So I started asking questions and pressing for a straight answer. Reverse mortgages give you money based on a percentage of what they think your house is worth. You can either take the money as a lump sum or take payments. My question to them was how is the interest calculated. The answer …

Fed Rate-Hike To Trigger ‘Next Crash’ In 2016? o o o Once Cash Is Banned They Will Be Able To Force You To Buy Products: “Just Tax Their Excess Account Balance”. – B.B. o o o Items from Mr. Econocobas: David Stockman Interview——-Kick-The-Can Economics Is Entering The End Game Traders Watch for More Signs of Economic Stall in Week Ahead Bond-Market Crash Has Wall Street Divided on What’s Next – some in the main stream pushing off from the September rate hike theory. At some point even the Lemmings have to start to realize it’s all a show.. US Gas …

America’s Shadowy Energy Partnership With Azerbaijan o o o For citizens of the U.S., their way of life depends on those dollars in their pockets, but they fail to understand what determines the strength (value) of those dollars. This video should be a wake up call. o o o U.S. Nearing Recession, Dollar Falling Hard o o o Is This Why Greek ATMs Are Empty?. – H.L.

The Recesssion is Here, Prelude to Depression, by Robert Gore. – JFJ o o o The low wage employment tsunami: Low wage jobs now make up 25 percent of all employment in the United States. o o o US In Recession – Just Doesn’t Know It. Mike ‘Mish’ Shedlock o o o Peak Of Bakken Oil Production Signals Collapse Of U.S. Economy.

Hugh- I wanted to know what you and/or Jim’s and/or The Econocobas’ opinion is of reverse mortgages. The missus and I have moved to the Redoubt and own our location outright. I was mentally extrapolating the possible outcomes of a reverse mortgage should the balloon go up, but I always value other people’s thoughts. Also, forgive me if this has been addressed previously. – D in Southern Idaho HJL Responds: I have never considered reverse mortgages, as I always considered the land worth something but the cash out value as a loss due to inflation. Call me old fashioned, but …

House of Cards – Will It Collapse? “It is unwise to scramble in front of an oncoming steam-roller in search of dollar bills when real money, gold and silver, is still available at “bargain” prices.” – Gary Christenson o o o Capital Controls, Gold Confiscation, Bank Holidays, and Everything Else o o o You can’t afford to live in California: It would take the typical family 35 years just to save for a 20 percent down payment in San Francisco. o o o U.S. Farmers In “Dire Straits”: JPM Warns Of Imminent Liquidity Crunch

Global Debt Now At $200 Trillion o o o Student and auto debt fuel credit bubble 2.0: Student loans carry the highest delinquency rate of all debt classes. Student and auto debt up $1.15 trillion in last decade. o o o Here’s how Americans are eating into their savings . – H.L. o o o Items from Mr. Econocobas: Moody’s Downgrades Chicago Debt to ‘Junk’ with Negative Outlook Five Reasons Chicago Is in Worse Shape Than Detroit 5 Big Banks Expected to Plead Guilty to Felony Charges – And not much of anything will happen U.S. Retail Sales Disappoint Again …

Imagine a Perfect World… and Wake Up o o o Why Is The U.S. Importing So Much Silver Bullion?? o o o The real sign that Greece’s financial turmoil is getting worse. – JBG o o o Ban cash, end boom and bust. – D.S.

Almost Half Of US States Are Officially Broke. – B.B. o o o Is There Any Gold At Fort Knox? Survey Says “Highly Unlikely” o o o Items from Mr. Econocobas: Class Of 2015 Sets Student Debt Record—–$68 Billion Bonds Extend Global Decline as Goldman Warns on Long-Term Debt ‘The Crash” Will Not Be Caused By An Event… Greece Effectively Defaults To IMF Using SDR Reserves To “Repay” Fund; 1 Month Countdown Begins – This is getting very serious; I don’t know how it is going to end, but I suspect somehow things are going to get pulled together and …

Gold Prices In 2020? Debt Drives Gold and Stocks o o o Russell Napier Explains What’s In Store For Gold If Cash Is Outlawed. – D.S. o o o Items from Mr. Econocobas: The Graccident Hour Draws Nigh Greece Hopes for Helping Hand as IMF Bill Looms No Deal: Eurogroup Concludes Meeting On Greece, No Further Fund Disbursement The Situation Escalates – Greece Is Now Taxing Cash Withdrawals

Oil Markets Have Little To Fear From Iran For Now o o o 34 percent of Americans financially carry the country: Those not in the labor force hits another record at 93,194,000. o o o The Dow has now gone 37 days without setting a 1-month high OR low, the longest streak in over 100 years o o o Items from Mr. Econocobas: Video: Philip Haslam: When Money Destroys Nations

Edgebrook Bank, IL, Closed by Regulators – Fifth Bank Failure of 2015. – G.G. o o o AIIB, SDRs, and the Yuan – Latest Developments. – JMC o o o By a 2-to-1 margin, Americans are more worried about economic mobility than the income gap

This is a Major Buy Signal for Gold o o o Rental Armageddon continues: Federal Reserve shows housing to be a big push in household net worth yet we are hitting a generational low of actual homeownership. o o o Items from Mr. Econocobas: Oil Price Recovery May Be Too Much Too Soon – This is an interesting read for sure. Part-Time Jobs Soar By 437,000; Full-Time Jobs Tumble, Stay Firmly Under Pre-Recession Highs Video: How Will Fed React to Jobs Data? – Rick Santelli puts it all in perspective here at the end. Japan National Debt Rises To ¥1,053,357,200,000,000

Denmark moves closer to a cashless society. – G.G. o o o Why The Student Debt Bubble Is About To Get A Lot Larger o o o Items from Mr. Econocobas: PETER SCHIFF: We’re Not Headed for a Fed Rate Hike — QE4 Instead Layoffs Hit 3-Year High in April as Energy Cuts Surge Hold Precious Metals As Banks Try To Criminalize The Use Of Cash US Macro Data Has Never Collapsed This Fast

Greece introduces cashpoint tax in desperate bid to raise revenue and stop run on banks as country teeters on brink of bankruptcy. – G.G. o o o It begins: US government issues $700,000 fine against a digital currency. – S.B. o o o Inspector General: IRS Allowed $5.6 Billion In Erroneous Education Tax Credits. PLC o o o What’s the Cash Value of Your Vegetable Garden?. – D.S. o o o Items from Mr. Econocobas: Blame the next global financial crisis on the U.S. dollar– More like blame it on central banks and central planning