Archive for August 17th, 2010

We are in the eye of an economic hurricane. Things look calm and many talk of recovery. But, when the outlook for higher taxes and interest rates are taken into account combined with less government stimulus and more de-leveraging in retail and commercial real estate, the dark clouds of an even deeper recession come... »

Jeff Fisher SilverBearCafe.com The US credit system is in the midst of its third credit crisis since the advent of the Federal Reserve. The first credit crisis was a deflation that morphed into the Great Depression. (See Rothbard’s: America’s Great Depression.) The second credit crisis manifested itself in the stagflation of the 1970s. (See... »

Scott Strzelczyk SilverBearCafe.com The United States’ economic decline precariously resembles Argentina’s economic collapse, which started in 1998 and landed Argentina in a depression by the end of 2000. What began in Argentina as a recession mushroomed into a full-fledged depression due to bad economic and monetary policy. The Obama administration and its congressional Democrat... »

By Gerald Celente DailyReckoning.com 08/16/10 Rhinebeck, New York — Three weeks later the celebrated property rebound, along with the stock market, ran out of bounce. After the hefty government tax credits that had propped up sales expired in April, May purchases of new homes fell 33 percent to a record... »

New Normal: Bankrupt nation. Deflation. Zeros. Junk. No jobs. Depression By Paul B. Farrell MarketWatch.com Aug. 17, 2010 ARROYO GRANDE, Calif. (MarketWatch) — Yes, it’s going to get worse, a whole lot worse … Bill Gross warns this is the “New Normal. Forget 10% returns. Think 5%”. … Economist Larry Kotlikoff, author of The... »

Vincent Fernando, CFA BusinessInsider.com Aug. 17, 2010 China began reducing its holdings of U.S. government bonds again in June, and in fact cut just its holdings by the largest 1-month amount ever. Bloomberg: The nation’s holdings of long-term Treasuries fell in June for the first time in 15 months, dropping by $21.2 billion to... »

War, Peace, and the State LewRockwell.com The libertarian movement has been chided by William F. Buckley, Jr., for failing to use its “strategic intelligence” in facing the major problems of our time. We have, indeed, been too often prone to “pursue our busy little seminars on whether or not to demunicipalize the garbage collectors”... »

by Walter E. Williams LewRockwell.com Democrat control of the White House, House of Representatives and the Senate has produced an unprecedented level of political brazenness and contempt for the limitations placed on the federal government by the U.S. Constitution. As such, it has raised a level of constitutional interest and anger against Washington’s interference... »

Robert Wenzel EconomicPolicyJournal.com This weekend Zero Hedge reported that on Thursday “the feared” Hindenburg Omen made an appearance. Wikipedia notes that: Looking back at historical data, the probability of a move greater than 5% to the downside after a confirmed Hindenburg Omen was 77%, and usually takes place within the next forty-days. The last... »

By Roger Fredinburg August 17, 2010 NewsWithViews.com California’s Proposition 8 passed overwhelmingly by California voters has recently been negated by a single San Francisco Federal Judge with suspect motives, some even speculate the Judge is gay and therefore unfit to hear the case. United States District Court Judge Vaughan Walker, who heard the challenge... »