Category: Economics & Investing

Seneca’s Cliff: Greece, Debt and Paper Silver o o o These 15 states still haven’t recovered jobs lost in recession . – H.L. o o o Items from Mr. Econocobas: Existing Home Sales Spike To Highest Since Nov 2009 As Prices Soar For Expensive Homes Greek Banks “Unofficially” Limit Walk-In Withdrawals To €3,000, FT Reports ECB’s Nowotny – Greek banks have funding extension for today (Monday) “It’s Time To Hold Physical Cash”, Fidelity Manager Warns Ahead Of “Systemic Event”

Jim Rogers: Turmoil Is Coming. – G.G. o o o The Next Great European Financial Crisis Has Begun. – B.B. o o o Tens of thousands march against austerity in London. What will happen in our inner cities when America is similarly really BROKE????? Those in better neighborhoods will be struggling, BUT will be in more danger from those feeling “deprived”! – H.L. o o o Why A U.S Shale Slowdown Will Hardly Effect Oil Prices

‘It’s time to hold physical cash,’ says one of Britain’s most senior fund managers. – G.P. o o o Citi forecasts Greek devastation, unstoppable debt spirals in Italy and Portugal. – JBG o o o ‘Last Days of Pompeii’ in Greece as crunch time approaches. – JBG o o o “Bank Holiday” Preparations Begin In Greece, Lines Form At Athens ATMs

Suppose on January 1, 1995, over 20 years ago, you quit smoking one pack per day and bought silver instead… Assume: One pack of cigs per day at their average price each month over those 20 years in the United States. Instead of buying cigs, you purchased silver once per month on the last day of the month with the savings. Some states have higher or lower taxes than average. For example, the national average price for a pack of cigs might be $6.50, while some states average over $10 per pack. Use the average price for calculations. Savings: One …

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