America’s Tax System Has Lost Coherence, No Longer Performing Efficiently or Effective o o o Why It Won’t Be a Good Year to Own Stocks o o o OPEC Ministers Decry Price War Conspiracy Theories o o o John Williams: A Downhill Run For The Dollar in 2015
Obamacare’s Christmas surprise. – G.G. o o o Texas job growth outpaces rest of U.S. combined. – G.G. o o o Putin: Battered, Bruised But Not Broken o o o Craig Roberts: Is Ruble Collapse Act Of War-Paul o o o Thinkgs that make you go Hmmmm. Signing Off.
Dollar Store Nation: Largest percentage of Americans on food stamps while stock market disconnects from working class Americans. o o o This Is What a Currency Collapse Looks Like: Shopping Frenzy: “We Have A Lot Of Rubles Losing Value Every Second” o o o Items from Mr. Econocobas: Switzerland Introduces Negative Interest Rates to Weaken Franc Russians Flock to Stores to Pre-Empt Price Rises
Northern Star Bank, Mankato, MN, Becomes 18th Bank Failure of 2014. – G.G. o o o Fewer US-Born Americans Have Jobs Now Than In 2007. – G.G. o o o Items from Mr. Econocobas: David Stockman: The Fracturing Energy Bubble Is the New Housing Crash There Is Hope In Understanding That A Great Economic Collapse Is Coming WH Hails Economic Gains But Poll Finds Few Concur
U.S. Declares (Currency) War On Russia o o o Swiss Central Bank to Introduce Negative Interest Rates – G.G. o o o Items from Mr. Econocobas: Price of Gold in Russian Rubles – Just thought I would share this chart… Notice how fast things happen when they really make a move. Wouldn’t suspect it to be any different. A Full-Blown Economic Crisis Has Erupted In Russia Minimum Wage, Maximum Unemployment – This is for South Africa, but the economic principle is universal.
$4.20 Per Pound: Price of Ground Beef Climbs to Another Record. – RBS o o o Russians Rush To Stores As Country Fears Bank Run. – G.G. o o o Items from Mr. Econocobas: Meet the ‘Accidental American’ with a Big Tax Bill Wealth Shrinks as Middle-Class Takes Hit from Falling Home Prices We Just Witnessed The Worst Week For Global Financial Markets In 3 Years
Banks loosen lending standards to levels seen before financial crisis – G.G. o o o Russian bank manager: “This is the end of the banking system” – CDV o o o Items from Mr. Econocobas: U.A.E. Sees OPEC Output Unchanged Even If Oil Drops to $40 Russia Defends Ruble With Biggest Rate Rise Since 1998 Russian Rate Jump Fails to Stop Ruble Crash – This is looking like it is about to spiral out of control..
Same Currency War, New Battle Phase o o o Russian Rate-hike Stunner. – CDV o o o Low Oil Prices Could Point To A More Serious Problem o o o Multiple countries have closed their embassy in Egypt, as their country struggles with solvency concerns. It’s the worst economic crisis to hit Egypt since the 1930’s. Such a threat could lead to war. The worst economic crisis to hit Egypt since the 1930’s – CDV o o o Milk prices are about to fall big time. – K.W.
Paying Down The Debt Is Now Almost Mathematically Impossible. – E.B. o o o Items from Mr. Econocobas: Venezuela Has a 93% Chance of Defaulting on Its Debt Greek Bonds Extend Worst Week Since Euro Crisis Greek Stock Rout Means ASE Is 2014 Worst After Russia Memo To Citigroup CEO Michael Corbat: Does Your Crony Capitalist Plunder Know No Shame? – FDIC is not a free market solution, and Glass–Steagall was only needed because of FDIC. It’s an example of government regulations necessary to protect us from a prior government mandate. Perhaps we could try the free market again? Perhaps …
Cronyism and ensuring American taxpayers bailout the finance industry during the next crash: Nostradamus like spending bill will ensure big banks never fail with your money. o o o The US Mint (and Congress) inch forward to composition changes (or phase out) of pennies and nickels. (It looks like we will have at least one more year to accumulate “25/75” composition nickels.) o o o Items from Mr. Econocobas: Giving Up Your U.S. Passport Getting More Expensive Russia’s Rate Increase Fails to Halt Ruble’s Slide to Record Congress Narrowly Averts Government Shutdown
The Morality and Legality of Debt Jubilee, Part III o o o Items from Mr. Econocobas: 1.1 Trillion Dollar Spending Bill Unveiled So What’s In The Bill Giving Up Your U.S. Passport Getting More Expensive Russia’s Rate Increase Fails to Halt Ruble’s Slide to Record
Pay off our debt? Not likely, say some. – G.G. o o o Ellen Brown: Big Banks Will Take Depositors Money In Next Crash o o o Russia is finally using all that gold they’ve been hoarding. On Thursday, the Central Bank of Russia announced that gold reserves dropped by $4.3 billion in just one week, reports Vesti Finance. – CDV o o o Items from Mr. Econocobas: “These Are Astonishing Figures, Evidence Of A 1930s-Style Depression” One-Fifth of Americans Don’t Plan to Pay Off Their Debt Russia Set to Raise Main Lending Rate
The American Dream deferred for young Americans: Living in rentals, inflated college tuition, and low wages await millions of young Americans. o o o Welcome To The Recovery: 40% of Americans Live Paycheck To Paycheck (Up From 30% In 2012) – G.G. o o o Items from Mr. Econocobas: Why the Greek Stock Market Is Crashing Again Video: Peter Schiff – Fed Can’t Raise Rates Without Pricking Bubble Chris Martenson interviews Mike Maloney – The Coming Wealth Transfer
Another Fabricated Jobs Report. – RBS o o o Greece’s stock market just suffered its worst collapse ever . – CDV o o o Items from Mr. Econocobas: Gold Bulls Return as Wagers on Stimulus Accumulate: Commodities Video: John Williams from Shadow Stats – America and Dollar in Trouble It’s Time to Start Paying Attention to Greece Again
New Rules: Cyprus-style Bail-ins to Take Deposits and Pensions o o o Average Federal Spending Per Household Nearly $30K. – P.M. o o o Egon von Greyerz: Global Deflationary Implosion Will Start Money Printing o o o Items from Mr. Econocobas New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses – This essentially already exists as they have an implicit guarantee from the government but suppose this would have it officially explicit. JWR has been warning about the derivatives since 2006 Japan Third-Quarter GDP Revised Down to 1.9% Contraction Rate Rises Spark ‘Massive Volatility’ Warnings