Category: Economics & Investing

Eric C. sent us a link to a recent Peter Schiff interview over at The Motley Fool: A Tough Year Ahead for the U.S. Economy? From Hal N.: Greenspan backs deficit-reduction commission Items from The Economatrix: A World Crisis No Bailout Can Stop Are Your US Treasury Bonds Safe? Fastest Food Inflation–Milk Up 39% Stock Futures Signal Weaker Open as Dollar Rises Treasury Backs Out Of Plans to Sell Citi Stake Citi Suspends Foreclosures for 30 Days US Lawmakers Approve Jobs Package Moody’s Warns of “Social Unrest” as Sovereign Debt Spirals Gulf Petro-Powers to Launch Currency Mexico Whacked with Second …

Jim B. recommended this video on the Federal Reserve: The Dollar Bubble. Randy K. suggested this item: by the ever-cheery Ambrose Evans-Pritchard: Gulf petro-powers to launch currency in latest threat to dollar hegemony From J.S.: More countries at risk of default. Items from The Economatrix: World Losing Faith in Debt-Laden UK The True Danger Lurking Behind 0.00% Treasury Yields and the 1-3-6 Rule Part I The Return of Gold and Silver Eagle Rationing Airlines in Deeper Trouble than Forecast EU/IMF Revolt: Greece, Iceland, Latvia May Lead Way Bond Price Crash is Surest Bet in Town Poll Reveals Trauma of US …

I found this linked over at The Drudge Report: Democrats plan nearly $2 trillion debt limit hike Damon sent this: Cleaning up after real estate debacle Larry mentioned this BBC piece: Greece ‘faces sinking under debt’ Items from The Economatrix: Bankruptcy of US Now Certain Gold and the Last Real American Dollar Hedge Against Hyperinflation, Hard Assets Should Continue to Appreciate During 2010 Marty Weiss: Stock Market, Gold, Commodities, and Economic Forecasts for 2010 Darryl Schoon: Deflationary Economic Depression 2010, Ready or Not, Here it Comes! Foreign Demand for US Long-Term Assets Slows Greece Defies Europe as EMU Crisis Turns …

R.R. sent this: NS&I withdraws all its fixed-rate savings bonds Chris mentioned an article on the new underground economy and the avoidance of bank accounts. Thanks to Joan M. for finding this one: D-Day nears for Dubai’s $3.5 billion debt hurdle Also from Joan come this CBC (Canada) piece: Peak oil: Problems and possibilities Items from The Economatrix: World Stocks Up on $10 Billion Dubai Rescue Citigroup to Repay $20 Billion in Bailout Money Oil Near $69 as OPEC Signals No Output Cut US Recession “Not Over Until Job Rates Rise” White House Economist Sees Jobs Growth By Spring. JWR …

Tom W. liked this piece by Todd Harrison at Minyanville: What in the World Is Going On? Trent H. suggested this video clip: Globe “Overdue for a Currency Crisis”; Why Jim Rogers is Buying Dollars GG flagged this: The Coming Wave of Debt Defaults Items from The Economatrix: Sovereign Debt Defaults the Next Shoe to Drop? House Passes Massive Overhaul of Wall Street’s Regulations US Foreclosures to Reach Record 3.9 Million in 2009 North Korean Won Plunges 96% after Gov’t Reevaluation Venezuela Debt Holders Rush For Exits As Banks’ Woes Surface

Regular content contributor GG mentioned this in The Wall Street Journal: Are Your U.S. Treasury Bonds Safe? The price of credit default swaps jumped by more than 50% in the private market in recent months. Frank S. sent this Friday Follies Update: Three bank failures take year’s tally to 133 “3Can” mentioned that the IBD had a good discussion of gold related to purchases by central banks. Items from The Economatrix: Freightliner Moving Truck Production to Mexico, Raising Fears of More Layoffs Australian Lawmaker Warns US Could Default on its Debt Triggering an “Economic Armageddon” Timebomb for the Euro: Greek …

HPD highlighted this one: 100 Ridiculous Projects Funded by the American Recovery Act SurvivalBlog’s Editor at Large Michael Z. Williamson spotted this piece in the Wall Street Journal: How to lose $127 million. Items from The Economatrix: Greece Teeters on Bankruptcy Federal Budget Deficit for November Hits $120.3 Billion Geithner Says Treasury Faces Losses from Autos, AIG Stiglitz Urges “Powell Doctrine” to Fix Jobs Picture Market Jitters as Spain Joins Dubai on Danger List Food Stamps Go to a Record 37.2 Americans

Reader P.D. sent this: 10 Countries most likely to default. (It is notable that because of the size of its economy, they listed California among the list of “nations” at risk of default!) Russ J. recommended a link from Nathan’s Economic Edge. to an MP3 recording of John Williams of Shadow Government Statistics. Russ’s comment: “His conclusions, if they prove out, could easily land us all in a “Patriots” scenario”. El Jefe Jeff E. sent this: U.S. Homeowners Lost $5.9 Trillion Since 2006 Peak. Jeff’s comment: “Home foreclosures topped 300,000 in October for the eighth straight month, and still growing. …

Chad S. was the first of several readers to mention: Feared “super spike” in rice prices Reader T.H. pointed us to this troubling piece: Sovereign Debt Defaults Likely Over Next Several Years, Says Rogoff From Brett: G.: Experts: Greece Going Bankrupt Could Doom Euro Items from The Economatrix: Stocks Climb as Investors Shrug Off Debt Concerns $700 Billion Bailout Extended Until October Crude Oil Falls to 2-Month Low Financial Markets Tumble After Fitch Downgrades Greece’s Credit Rating Ex-Fed Chief Volcker’s “Telling” Remarks On Derivatives Soros Warns Against Rebuilding Same “Humpty Dumpty” Financial System Few CEO’s Plan to Hire In Next …

Items from The Economatrix: Shockwave From Dubai Default About to Hit Markets The Great RBS Exodus: 1,000 Bankers Quit Over Pay Disagreement Dollar Rises Most Since 1999 Versus Ye as Fed Bets Increase “The” Bank Job Pockets of Rot John Galt: The Day The Dollar Died, Part 7 — Security For Liberty for All (Scroll down for Part 6, and earlier) Gold Rally is Not A Bubble, Mania Stage Ahead of Us

Carla alerted us to this article: Recent World Events Indicate Impending Market Chaos, by Giordano Bruno. F.G. and Matt C. were the first of several readers that flagged this apropos piece in The Wall Street Journal: Green Acres Is the Place to Be; The Recession Is Inspiring More Young Families and Singles to Head Back to the Country Thanks to GG for finding this: S&P says European companies face $1.5 trillion funding shortfall next year Items from The Economatrix: Geithner Slams Wall Street Bonuses, Says All Big Banks Could Have Failed A Deeper Look Behind The Jobless Numbers. Despite the …