The International Monetary Fund (IMF) warning of “a sizable risk” that some euro zone countries could suffer a debilitating decline in prices, called on Wednesday for the European Central Bank (ECB) to pump money into the region’s economy by buying huge volumes of government bonds. Such bond
Take a walk through any medium-sized town in Ireland, particularly down the little uninspiring streets off the main drag, the streets named after lesser patriots, second-rate saints or the next small town you’d get to if you kept walking. There you will see them, the real victims of the recession: young men and women with nothing to do.
There are a lot of wealthy, successful Americans who agree with me — because they want to give something back. They know they didn’t — look, if you’ve been successful, you didn’t get there on your own. You didn’t get there on your own. I’m always struck by people who think, well, it must be because I was just so smart. There are a lot of smart people out there. It must be because I worked harder than everybody else. Let me tell you something — there are a whole bunch of hardworking people out there.
Few investment legends have weathered more than Richard Russell. Born in the Great Depression, Russell knows what it’s like to live in hard times. And in this new normal he has some survival tips. The following are courtesy of Russell’s Dow Theory Letters
By now it really, really should be obvious. While the insolvent “developed world” is furiously fighting over who gets to pay the bill for 30 years of unsustainable debt accumulation and how to pretend that the modern ‘crony capitalist for some and communist for others’ system isn’t one flap of a butterfly’s wings away from full on collapse mode, China is slowly taking over the world’s real assets. As a reminder:
Against the desperate effort to save the financial system, all of Britain’s biggest banks have been determined to destroy the financial system as a consequence of the bonus system that encourages employees to bank bonuses on the basis of fictitious profits conjured out of thin air by shuffling around trillions of derivatives exposure on and off the bank balance sheets. The ongoing LIBOR scandal gives one small glimpse under the hood of the cesspit that goes by the name of Barclays Bank, with probably ALL of Britain’s big banks to result in similar LIBOR manipulation scandal revelations as the mainstream press plays catchup to what in effect is a 4 year old story as I touched open several aspects of during the past few weeks.
Within the next two years, a spooky, powerful and invisible new technology will be deployed by the U.S. government that can instantly scan and identify every molecule on your body or person: the cocaine residue on your dollar bills, prescription drugs in your purse, marijuana in your pocket and even trace powder residue from your practice session at the gun range.
Gold has been in a bull market for the past 11 years, and Rogers, who has owned it for longer than that period, tells Oilprice.com, “I don’t know of any asset in history that’s gone up 11 years in a row without a correction.”
But now Amazon has a new game. Now that it has agreed to collect sales taxes, the company can legally set up warehouses right inside some of the largest metropolitan areas in the nation. Why would it want to do that? Because Amazon’s new goal is to get stuff to you immediately—as soon as a few hours after you hit Buy…
First off, however it happened, the Government should be applauded on keeping Irish concerns on the EU’s agenda. Clearly, the Italians and the Spanish did the heavy lifting for us. Had the Spanish and Italians not been in serious trouble, the Germans couldn’t have cared less about us. But a deal is a deal and one on debt sharing for Irish bank debt is a huge result. It might seem premature to talk of “results” but now we have a great chance to reduce our odious debt burden.
President Obama has usurped all available forms of communication for use and discretion of the US government. Under executive order (EO) , Assignment of National Security and Emergency Preparedness Communications Functions, Obama has enabled the executive branch to control communications under all “possible under all circumstances to ensure national security, effectively manage emergencies, and improve national resilience.”
the founder and CEO of PFGBest, reportedly attempted to commit suicide this morning outside the corporate headquarters in rural Cedar Falls, company officials confirmed Monday afternoon. Update 2: PFGBest had $400MM in customer segregated funds at the end of April. Is JPMorgan about to “discover” another $400 million in Q2 “profits”?
In 2010, Devra Davis, PhD, MPH, president of the Environmental Health Trust, and former White House adviser, wrote the book titled, “Disconnect: The Truth About Cell Phone Radiation, What The Industry Has Done To Hide It, and How To Protect Your Family.” Dr. Davis shares her concerns, “If the industry doesn’t make a positive move soon, we may have a global epidemic on our hands within the next two decades. This global epidemic is not a scare tactic. There is study after study, over 500, on the ill effects of exposure to cell phone radiation.
Politicians have been virtually “useless” so far at getting to the truth behind the banking scandal, one of the MPs responsible for investigating the affair has admitted. Andrea Leadsom, whose forensic questioning of the former chief executive of Barclays, Bob Diamond, led
Marcia Angell M.D. was a former editor in chief of the The New England Journal of Medicine. She is currently a senior lecturer in social medicine at Harvard Medical School. Her latest book is The Truth About the Drug Companies: How They Deceive Us and What to Do About It.
I’ve seen eight recessions and two depressions in multiple countries. I’ve personally witnessed extreme deflation and hyperinflation. But in all the time since I founded my research company four decades ago, I’ve never seen anything quite like the whirlwinds and dark clouds now encircling the so-called advanced economies of the world. Even before the next recession, one-quarter of their people are already jobless. Even before the next big
THE world focus was recently on Rio de Janeiro in Brazil as leaders of countries of the world met to consider the topical issues of sustainable development and propose ways in which life can be made better for all people on the planet. The Rio 20 conference had the challenge of how the leaders can come up with ideas on how to reduce poverty, advance social equity and ensure environmental protection on an ever more
For the past eighteen months, gold stocks have been pummeled. They showed some life from mid-May to mid-June – GDX, the gold miner’s index, was up 21%, while gold rose 5.5%. That bounce was exciting, but they’ve still got a lot of lost ground to make up. Since January 1, 2011, GDX is down 28%, while gold is up 10%. So what’s going to move these darn stocks? Will their day ever come? Could our research – gulp – be wrong? Jokes have even started circulating… What’s the difference between a seagull and a gold stock investor? The seagull can still make a deposit on a Mercedes. Gold equities may be bad, but I slept like a baby last night. I woke up every hour and cried.
According to two Merck scientists who filed a False Claims Act complaint in 2010 — a complaint which has just now been unsealed — vaccine manufacturer Merck knowingly falsified its mumps vaccine test data, spiked blood samples with animal antibodies, sold a vaccine that actually promoted mumps and measles outbreaks, and ripped off governments and consumers who bought the vaccine thinking it was “95% effective.”
A new review published in the journal Public Library of Science ONE confirms that Pandemrix, a swine flu vaccine produced by drug giant GlaxoSmithKline (GSK), is responsible for causing an up to 1700 percent increase in narcolepsy among children and teenagers under 17 years of age.
Germany, the great exporting nation, would be especially hard hit by monetary reforms in the southern countries. Exports to Italy and Spain alone are valued at about €100 billion a year. Although sales of cars, machinery, electronics and optical devices would not be eliminated altogether in the event of a euro collapse, there would be sharp declines, because customers in Southern Europe could no longer afford German products.
Greece will be one of the items on the agenda at this week’s European Union summit. The coalition led by new Greek President Antonis Samaras pledged to renegotiate the terms of the previous bailout deal between Greece and the EU. That was the $163 billion deal. As if that wasn’t enough uncertainty for the EU, Spain has formally