Archive for July 10th, 2012

By Chris Martenson GoldSeek.com Tuesday, 10 July 2012 A question on the minds of many people today (increasingly those who manage or invest money professionally) is this: How do I preserve wealth during a period of intense official intervention in and manipulation of money supply, price, and asset markets? As every effort to re-inflate... »

Mike “Mish” Shedlock BusinessInsider.com Jul. 10, 2012 Scranton, Pennsylvania’s, the state’s sixth-most-populous city (population of 76,089 in 2010 census), is down to its last $5,000 and has no way to pay salaries. The mayor wants an immediate tax hike of 29% and 78% over three years. In every sense of the word, Scranton is... »

by Tyler Durden ZeroHedge.com 07/10/2012 It seems increasingly the European leaders themselves (absent the self-referential peripheral political paeons) are getting the joke in Europe. Following Buba’s Weidmann’s rational comments this morning (via Bloomberg): *WEIDMANN SAYS CAN’T SOLVE EURO CRISIS WITH EVER BIGGER FUNDS *WEIDMANN BANK FINANCING (Bailout – kicking the can) COULD WORSEN WITH... »

KingWorldNews.com July 10, 2012 Today King World News wanted to share with its global readers a portion of top Citibank analyst, Tom Fitzpatrick’s latest report. Fitzpatrick, a 28 year veteran and top analyst at Citibank, which has $1.3 trillion in assets, covered the two key markets, the euro vs the dollar and bonds. Below... »

Matthew Feeney Reason.com July 9, 2012 Business Insider has made a list of ‘The 13 People Who Are Destroying The Global Economy’. I agree with most of the list, but not the reasons. The most notable example of this is Business Insider’s fourth choice, Ben Bernanke. I am not going to disagree with the... »

by PAUL CRAIG ROBERTS CounterPunch.org JULY 09, 2012 Washington has been at war since October, 2001. This war took a back seat when Bush concocted another excuse to order the invasion of Iraq in 2003, a war that went on without significant success for 8 years and has left Iraq in chaos with dozens... »

By Paul B. Farrell MarketWatch.com July 10, 2012 SAN LUIS OBISPO, Calif. (MarketWatch)—Election wars are masking the fiscal cliff that America is destined to drop off in early 2013, warns the Congressional Budget Office. History tells us our politicians will slowly drive America off the fiscal cliff and into a mid-1930s-style sinkhole. Why? Because... »

by Niall Green Global Research July 10, 2012 Cell phone companies reported that US government bodies, including federal, state and local law enforcement agencies and courts, made at least 1.3 million demands for subscriber information in 2011. According to a report in the New York Times, telecommunications companies routinely hand over thousands of pieces... »

by Charles Hugh Smith ZeroHedge.com 07/10/2012 If the global State/finance Empire can’t increase systemic leverage, it will implode. If we look at the global economy with unclouded eyes, we reach this conclusion: “This whole thing is about leverage.” If leverage doesn’t increase, the system implodes. But since collateral is disappearing from the global economy... »

Joe Weisenthal BusinessInsider.com Jul. 10, 2012 The heatwave is ravaging America’s crops in a manner that hasn’t been seen in years. In a report titled: The Ghost of Tom Joad: The Drought Digs Deeper into Crops. Ian Horowitz at Topeka Capital Markets writes: Monday night’s USDA Crop Progress report was far from a surprise... »