Category: Economics & Investing

MF Global: Proof that the U.S. government is not able or willing to protect investors. (Thanks to Jeff H. for the link.) Karl Smith: The Euro-Crisis is Much Worse Than It Looks Just as if they were cranking up the printing presses: Top central banks move to avoid global liquidity crunch. Meanwhile, overseas: China cuts reserve ratio in move to inject cash. (Thanks to K.A.F. for the link.) Harrisburg: a city at war with itself. (The first major U.S. city to declare bankruptcy. The first of many, I fear.) Items from The Economatrix: Prepare For Riots In Euro Collapse, Foreign …

B.B. mentioned this: Jim Cramer: ‘We Are in DEFCON 3, Two Stages Away from a Financial Collapse So Huge …’ Some charming news, by way of SurvivalBlog’s G.G.: Bond Dealers See Fed Buying $545 Billion of Home-Loan Debt in Third Easing Also from G.G.: John Williams: Hyperinflation Warning, Preserve Value with Gold And another: 10 reasons the crisis isn’t over Yet another: States face bleak economic forecast, report says Items from The Economatrix: Stocks Soar On Big Shopping Weekend, Europe Sales Of New Homes Up In October, But Prices Fall Oil Prices Rise On Holiday Sales, Europe Hopes

John R. suggested a piece by Paul Craig Roberts: Bankers have seized Europe: Goldman Sachs Has Taken Over Euro Meltdown: This One European Country Can Bring Down The Entire EU Courtesy of J.B.G.: Italy Is Closer To Collapse Than Anyone Realized, And So Is The World Also from J.B.G.: Should the Fed save Europe from disaster? Items from The Economatrix: Occupy Wall Street’s Latest Plan: Refuse To Repay Student Debt Hungary’s Debt Downgraded By Moody’s To Junk Europe Bond Yields To Keep Stocks Spellbound Why 2011 May Be A Jolly Year For Holiday Retailers

J.B.G. suggested this: Pictures From A Latvian Bank Run As MF Global Commingling Comes To Town Also from J.B.G.: Deutsche Bank: If Merkel Doesn’t Budge, ‘Our Investment Advice Is To Dig A Hole In The Ground And Hide’ Clive Maund: Gold To Profit From Economic Uncertainty From Wired: The Rise and Fall of Bitcoin Items from The Economatrix: Coming–Big Austerity Cuts 17 Quotes About The Coming Global Financial Collapse That Will Make Your Hair Stand Up Death of a Currency as Eurogeddon Approaches Update On US Banks And The Euro Area–Things Are Looking Grim

SurvivalBlog’s Editor At Large, Michael Z. Williamson sent this: Goldman Sachs predicts that U.S. will be world’s largest producer of oil in 2017 J. in Kabul sent this: Here You Go: It’s Over (by Karl Denninger.) Here is a brief quote: “Oh sure, there will be rallies and there will be selloffs. But there is no longer a market, there is no longer a thing to trade, and there is no longer a reason to believe that superior analysis will lead to profit or even safety.” Warning: Coinage debasement ahead! Steve Rothman says it costs more to make a penny …

Brother, can you spare $2.1 trillion? Eurozone needs a cash infusion “ten times bigger than TARP”. A hat tip to Yishai for the link. Fed Minutes: Bernanke Firmly in Control of FOMC, QE3 Coming A Silver Price Surge Coming? Sprott to Buy $1.5 Billion of Silver Bullion! Items from The Economatrix: Eurozone Unlikely To Survive Intact:  Reuters Poll Rich Fleeing Euro, Says Irish Advisor MF Global Looted Customer Accounts

Reader B.B. sent us this: 25 Bitter And Painful Facts About The Coming Baby Boomer Retirement Crisis That Will Blow Your Mind I warned you about this more than a year ago: Popular Mom-and-pop water purification business shuttered by DEA’s meth-hunting “knotheads” KAK flagged this: License plate readers: A useful tool for police comes with privacy concerns Robert O. suggested this NGC web page: U.S. Silver Coin Melt Values Items from The Economatrix: Wall Street Falls For Sixth Day Eurozone Debt Bomb Reaches Land Down Under — Australian Bonds Head For Implosion? 45% in US Struggle to Make Ends Meet

Nouriel Roubini: Government Gridlock ‘Ensures’ 2012 Recession. (Thanks to M.E.W. fro the link.) Silver Price Forecast: Why Silver For A Monetary Collapse? Part 1 German Auction ‘Disaster’ Stirs Crisis Concern Items from The Economatrix: China Media Says US Sitting on Debt “Time Bomb” Economy Would Suffer If Tax Cut, Jobless Aid End Economy Means Scaled-back Thanksgiving For Many Oil Price Up On Mideast Strife, Europe Debt Plan

AmEx (American Expat) sent this: Risks of global recession mount.   G.G. sent this: China vice premier sees chronic global recession. And speaking of China, consider this from Chris Martenson: The reasons for China’s imminent bust. Panel Set to Fail to Cut Deficit $1.2 Trillion. K.A.F. sent this: Airline Passengers Asked to Pay Extra $31,000 in Cash for Fuel Items from The Economatrix: Rapid Inflation To Become The Next Financial Crisis For America Prospect Of On-Line Sales Tax Grows Rising Age Gap In Economic Well-Being The Run On Europe Begins As Global Investors Head For The Hills Anger Mounts as …

Banks in Italy Find an Unusual Liquidity Lifeline G.G. sent us this: Right Now Officials in Brussels are Threatening to Cross a Line that Will Set Off Panic Also from G.G.: Central bank gold buying at 40-year high. Reader N.L. mentioned: Canada’s “new” $100 note–It’s made of plastic! Items from The Economatrix: The Crisis Eats Its Way Into The Core JPMorgan Joins Goldman Keeping Italy Derivatives Risk In Dark US Economy Growing At Fastest Pace Of The Year. (Isn’t it amazing what several trillion dollars created out of thin air can do in the short term?) Gross Says Europe is …

Fed Now Largest Owner of U.S. Government Debt—Surpassing China. (Of $15 Trillion worth of debt, now 11% of that much, or $1.67 trillion.) Ann H. sent this: States that Will Suffer the Most in the Event of a EU Collapse. (Yet again, The American Redoubt is looking better and better! ) Why Kyle Bass Hoards Nickels. (Thanks to K.M. for the link.) Items from The Economatrix: Jumbo Mortgages May Be Next in Line to Default I Dumped My Bank The Assault On Financial Privacy Goes Parabolic European debt crisis drives gold rush

More Friday FDIC Follies: Regulators close small banks in Iowa, Louisiana for total of 90 bank failures in 2011 Debt Crisis Contagion: The Euro Zone’s Deadly Domino Effect It’s All About Gold Now How Can The America People Ever Trust Congress Again After Learning Of The Rampant Insider Trading That Has Been Going On? Items from The Economatrix: Real Estate:  Why Home Prices Won’t Bottom Out Paul Drockton: MF Global and Derivatives Disinformation Student Loan Default Rates Surging Largely Due to For-Profit College Expansion Foreclosure Crisis Only Halfway Over