HSBC fears world recession with no lifeboats left. – G.G. o o o Are you looking to earn low wages? A college degree might be your ticket. College earning power dwindles over the last 15 years. o o o The world is drowning in debt, warns Goldman Sachs. G.P. o o o Having burned close to $30 trillion worldwide since 2008, banks and tax collectors are now keen to burn paper money for good.
America’s Trailer Parks: The Residents May Be Poor But The Owners Are Getting Rich. – H.L. o o o Why Most Gold Bugs Are Dead Wrong. – JBG o o o Congress needs a pay raise! $18T in op losses, $127T in unfunded liabilities, Losing $2.4B per day o o o Fed and CPI missing housing inflation yet again: The CPI is completely missing the increase in housing prices.
Stocks and bonds will ‘crash soon’. – R.S. o o o Feds Spent $100 Billion on Food Assistance Last Year. – G.G. o o o Wall Street R.I.P——The Bubble Is Dying At The Zero Bound. – RBS o o o Greek hospitals cannot afford painkillers, scissors or sheets as budget cuts bite. – JBG
Gold, and 3 Squirrels, 2 Vultures, and 1 Turtle o o o It Is Mathematically Impossible To Pay Off All Of Our Debt. – B.B. o o o Items from Mr. Econocobas: 4 Factors Signaling Volatility Will Return With A Vengeance Why We’re All in Big Trouble If Gas Prices Keep Going Up Video: David Stockman CNBC Interview: The Morning After Will Be Nasty Audio Interview – David Stockman: Progressive Defenses of Obamanomics Are Laughable
Banks fined over $5 billion for criminal activity, did you get any of it? o o o New University Of Texas President Rejects ‘Vulgar’ Salary Slurped Up By His Counterparts At Other Colleges. – PLC o o o Items from Mr. Econocobas: For Many American States, It’s Like the Recession Never Ended Bubble Blowing to Continue So Long as Yellen Isn’t Raising Rates 5 Bubbles that Draghi’s QE Is Already Blowing The Gloves Come Off: Moody’s Warns Of Greek “Deposit Freeze” As Schauble “Won’t Rule Out Default”
Hugh, According to the CFPB at this link, interest is charged like a credit card, based on last month’s balance. The lesson here is to read your loan documents. It doesn’t matter what you are told, it only matters what is in the documents that you sign. “Each month, interest and mortgage insurance charges are calculated based on the current loan balance. These charges are added to your loan balance. The amount you pay in interest and mortgage insurance compounds the same way a balance on a credit card does. The loan balance used to calculate interest and mortgage insurance …
An Insane Financial World o o o No, JP Morgan Is Not Buying Silver Eagles. Ted Butler claiming that JP Morgan is the big Buyer of Silver Eagles and Maples takes the credit away from the public who are the real buyers. o o o China has overtaken Mexico as the source of the largest number of immigrants to the U.S. – the Far East is the new Southwest. o o o OPEC Struggling To Keep Up The Pace In Oil Price War o o o It’s Time To Hold More Cash and Buy Gold
Debt-Choked Puerto Rico at Fiscal Brink as Bond Buyers Pull Back – G.G. o o o HSBC to charge for holding deposits. – G.G. o o o Items from Mr. Econocobas: Bus Driver Economics – This is a good short read. Denmark Preparing to be the First to Eliminate Cash Retirees Have More Education Debt than Ever Video Ron Paul: Cashless Society: More Attacks on Our Privacy
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 …