Archive for the 'Economy' Category
Increase in Incomes of the Top 1% Exceeded the Total Income of the Poorest 20%
December 16th, 2007Via: New York Times: The increase in incomes of the top 1 percent of Americans from 2003 to 2005 exceeded the total income of the poorest 20 percent of Americans, data in a new report by the Congressional Budget Office shows. The poorest fifth of households had total income of $383.4 billion in 2005, while […]
Los Angeles Times on Precious Metals: “Havens for Survivalists, Conspiracy Theorists and Flakes”
December 15th, 2007Gold foil hat? Attention: “Survivalists, conspiracy theorists and flakes,” this is my BullionVault affiliate link. Thank you. Via: Los Angeles Times: Fresh interest in gold also has spawned an array of gold-related securities, providing more options for people who want to own the metal without having to take physical possession of it. Yet professional financial […]
Unprecedented Central Bank Collusion Allows Troubled Institutions to Borrow Emergency Funds in Secret
December 15th, 2007What you don’t know can’t hurt Them. Via: Telegraph: The crucial elements in the Fed’s move yesterday is not so much the sum of money on offer – $20bn next week, $20bn the week after – but that all depository banks in America can draw from the tap anonymously, without the risk of being found […]
Schwarzenegger Will ‘Declare Fiscal Emergency’ In Weeks
December 15th, 2007Debt payments are wiping out the state. Look for the Governator to increase taxes and slash services in order to transfer more wealth to his banker buddies. Via: NBC: Gov. Arnold Schwarzenegger said Friday he will declare a “fiscal emergency” in January to give him and the Legislature more power to deal with the state’s […]
Schultz: “A Financial Tsunami Is Upon Us”
December 14th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. If you liked my Portfolio Ideas post, take a look at what the International Harry Schultz Letter just advised their readers to do. Via: MarketWatch: Systemic financial fears, dollar doubts, gold gains, seeping stagflation – a word Schultz claims he coined […]
WHEAT: LIMIT UP
December 13th, 2007Via: AP: Wheat prices surged the daily trading limit Wednesday on expectations that U.S. exports will continue at the high pace of recent months and deplete domestic supplies. Energy futures, other agricultural products and gold also rose, boosted in part by the dollar’s weakness Wednesday. With the world wheat market strapped for supply, U.S. exports […]
CHINA: 36 MAJOR CITIES TOLD TO KEEP FOOD, OIL RESERVES
December 13th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. PowerShares DB Agriculture Fund (DBA) NOTE: I am slightly overweight this one. If you look at the ongoing crises involved with food production, you see not just a perfect storm, but multiple perfect storms. — Cryptogon: Portfolio Ideas China is implementing […]
James Turk: Liquidity Won’t Help Insolvency
December 13th, 2007Of course, James Turk has more riding on gold than just about anyone, but this is a good read anyway. Via: Kitco: The Federal Reserve today announced a new scheme to inject more liquidity into the money markets. It cobbled together a partnership arrangement, as the Canadian, UK and European central banks also agreed to […]
Import Prices Rise 2.7%, the Most in 17 Years
December 13th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. There’s lots of yammering about gold rising here, but until we break above 845, it’s range bound slop and whipsaws. Congratulations, though, to the Cryptogon falling knife catchers, who have done very well recently. Let me consult my Magic 8-Ball: All […]
U.S. DOLLAR HOLDERS MAY BE FORCED TO ACCEPT IMF RESERVE ASSETS IF THEY WANT TO DIVERSIFY; FLOOD OF DOLLARS THREATENS GLOBAL ECONOMY
December 12th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. “This is the warning I’ve been repeating for years: You do not want to try to reach the exit as millions of other people attempt to do the same thing. Waiting for clarity is not often rewarded. — Cryptogon: Waiting for […]
