Category: Economics & Investing

Steven M. suggested: Three financial funnel clouds ahead Commentary: Fighting ‘F5’ financial disasters with ETFs United States of Denial (James West) John R. suggested a piece by Arnold Bock: Get Ready to be Financially Conscripted Katie Benner: China’s Debt Bomb From The Daily Bell: Greece: Frazzled Eurocrats Play for Time Items from The Economatrix: The Five Biggest Threats to US Economy Celente Predicts Gold Standard Won’t Save US Economy Consumers’ Confidence Down in June on Job Worries

F.J. suggested the tax infornmation from Kiplinger’s, for helping to select reterat locales: Retiree Tax Heavens (and Hells) Reuter’s reports: S&P to deeply cut U.S. ratings if debt payment missed Kostas sent this: Greece faces general strike, more cuts planned. This article includes a quote from deputy prime minister, Theodoros Pangalos: “A return to the drachma would mean that the next day banks would be surrounded by people trying to get their money out. The army would have to use tanks to protect [the banks] because there wouldn’t be enough police to do it.” Alexander in Germany flagged this one …

Does this sound familiar? Tony B. sent us some news from Australia: Royal Mint wants 5¢ coins scrapped. Yes, when inflation embarrassingly gives coins a base metal value that exceeds their face value, governments make they conveniently declare them a “nuisance” or “too expensive”. You can either look at it as a function of “rising commodities prices” as the media suggests, or more accurately as a declining Oz Dollar. G.G. spotted this over at Total Investor: Rich Dad, Poor Dad, Prepper Dad? Even Robert Kiyosaki Is Warning That An Economic Collapse Is Coming Martin Weiss warns of derivatives doom: Government …

John E. flagged this bit of statist arrogance: US Treasury Secretary Tim Geitner – “Taxes on ‘Small Business’ Must Rise So Government Doesn’t Shrink” John R. kindly sent us a whole raft of economic news items and some excellent commentary: Derivatives Cloud the Possible Fallout From a Greek Default Inevitable Catastrophe: The Fruits of Moral Hazard on a Global Scale  (Charles Hugh Smith) Chance Didn’t Create the Current Economic Crisis (Bob Chapman) Bernanke Lies Half Life Reduced To Under One Day As Aflac Scrambling To Shore Up Liquidity On European Exposure Mike Whitney: QE 3? — The Perils of Inflation …

D.S. spotted this: Greeks Turn Savings to Gold and Perth Mint Silver Coin Sales Surge to Record on Haven Demand Cody J. sent us this: Default America: Influence & Impasse Flat line: Fed Leaves Rates Unchanged, Offers Dim View of Economy (Thanks to Steven M. for the link.) Also from Steven M.: Moody’s: Commercial Real Estate Prices declined 3.7% in April, Prices at new Post-Bubble Low. (Thanks to Steven M. for the link.) Items from The Economatrix: The Bitter Medicine for the United States Jim Rogers:  Obama Should Resign Before Inflation Sparks Unrest Gerald Celente:  Everything is Not All Right, …

From The Daily Bell: Greece – Salvation by Politicians Ron Paul: The Worst Thing You Can Do For A People Is Purposely Devalue The Dollar Greenspan: Greek Default Will Trigger Another U.S. Recession Items from The Economatrix: The Latest FDIC Friday Follies: Regulators Shut Down Small Banks in Georgia, Florida; Makes 47 Bank Failures This Year Fed Dims Outlook for Jobs and Growth for 2011 Oil Dives to Four-Month Loss as Emergency Stocks Unleashed Fed Acknowledges Economy is Growing More Slowly The End of the Trend is Near Layoffs, Housing Data Point to Chronic Problems

Pimco Predicts Greece Will Default. JWR’s Comment: Prepare for a further succession of dominos to topple. Spain and Portugal will probably be next. And I regret to say that the domino at the end of the queue is at: 38°53’23.28″N, 77° 0’31.01″W Jason Hommel: Silver: From $30/oz to over $500 by 2020 (And from $500 to $5000 by 2030!) Democrats push for jobs package in debt deal. JWR’s Comment: More “stimulus”? They must be insane. Someday, they’ll finally admit that we are a bankrupt nation living on borrowed time. The U.S. Postal Service, facing insolvency without approval to delay a $5.5 …

This McAlvany podcast interview is a must: Bill King Interview:  Europe is the Detonator – The U.S. is the Bomb. King points to the collapse of socialism in western countries as the core of the collapse that started in 2009, and derivatives as the biggest risk. Reader Stephen M. mentioned that The Economic Collapse blog posted a good summary of the US national debt situation. Here is a key quote: “If we do raise the debt ceiling, that will ‘kick the can down the road’ a little bit farther. However, world financial markets will still crash eventually and our eventual …

You might not have noticed that the US Dollar Index has been falling recently. (At 74.77, the last time I checked.) Hmmmm… With all the turmoil with the EU periphery, common sense would dictate that the US Dollar should be appreciating rapidly versus the Euro. But it isn’t. So what is the real story, behind the news? I suspect that the US Dollar is in for some very deep trouble in the next few months. Steven M. sent this from Zero Hedge: After Dumping 30% of its Treasury Holdings in Half a Year, Russia Warns it Will Continue Selling US …

James, One of your SurvivalBlog Glossary entries deserves some comment. A Limited Liability Company (LLC) gives you as much or more protection from liability as a corporation, but passes profit through to your personal taxes like a 1099 independent or a subchapter S corp.  However, unlike a corporation, once you file your ‘Articles of Organization,’  in most states your LLC has no more paperwork requirements some states require an annual status report, but it is solely for informational purposes and has nothing to do with the IRS or other government agencies except to notify the IRS how you choose to …

Ron Paul: Federal Reserve’s Addiction. (Thanks to C.D.V. for the link.) Sue C. sent us this: Greek Default Would Spell ‘Havoc’ for Banks. KAF flagged this: Russia to Lower U.S. Debt Holdings John T. recommended this analysis by Martin W. Armstrong: Greece: Its Time to Default Before Civil War Breaks Out Items from The Economatrix: Gold And Silver Still Great Investments in Inflation, Stagflation, And Deflation The Systematic Financial Pillaging of the Middle Class Unemployment Falls in Fewer than Half US States

Reader J.H.B. suggested: Its Weight in Gold: The Real Prices of Things by Charles Vollum Trading Of Over The Counter [FOREX] Gold And Silver To Be Illegal Beginning July 15 Record Corn Harvests Can’t Meet World Demand. (Thanks to Steven M. for the link.) Kevin S. recommended this: Unlocking the Mayor Badge of Meaninglessness “The Toon” sent us this: Are We Running Out of Silver? Items from The Economatrix: Greek Crisis Could Send World Markets Into Turmoil Greece Nears Point of No Return In a Currency Tug-of-War, the U.S. Dollar Loses MERS Does Not Have The Right to Foreclose on …

Six minute of must-watch video with Dylan Ratigan: Jim Rogers warns: Get prepared! Just I warned you, the 46 cash-strapped States are finding creative ways to raise revenue: Downloads and drugs taxed under new Rhode Island budget plan. (Thanks to John E. for the link.) Fake Bars: “Federal investigators say tungsten filled gold bars and lead filled silver bars have started to circulate in the U.S.”  (Thanks to C.A. in Oregon for the link.) A recent essay by Michael Pollaro: US government’s fiscal state worsens, DC politicians fiddle   Items from The Economatrix: “Greece on the Edge of a Precipice” …

Greece Credit-Default Swaps Surge to Record 2,189 Basis Points, CMA Says. Oh those derivatives, again. P.R.D. suggested this: Is the Fed Insolvent? Scott M. found a facebook page devoted to the logic of saving nickels: Stacking Nickels. IMF Cuts U.S. Growth Forecast to 2.5%. (Thanks to Steven M. for the link.) Adam B. sent this: Greek Bailout Leaves the French Unruffled While German Politicians Seethe Items from The Economatrix: Inflation Slows In May as Gas Prices Fall Eric Sprott:  We’re Headed Over a Cliff, Be Wary of Paper Assets Failure To Raise Debt Ceiling Could Result in Severe Market Disruption. …