Archive for August 4th, 2011

By Matt Nesto Yahoo Finance If you own dollar-denominated assets, then you’re a fool. It’s really that simple in the black and white world of American fatalism that is the trademark thesis of Peter Schiff, the CEO of Euro Pacific Capital. “Unfortunately, because we raised the debt ceiling, because we continue to spend money,... »

Fear is driving a silent bank run in Greece – but some see the government’s austerity plans as a chance to transform By Aditya Chakrabortty Guardian.co.uk In one of the biggest banks in the centre of Athens a clerk is explaining how his savers have been thronging to pull out their cash. Wary of... »

By Joshua M Brown TheReformedBroker.com Today the markets should bounce on the tentative Moodys affirmation of our AAA rating, some decent earnings news/ sellside analyst chatter and a deeply oversold condition. The case for a “dead cat bounce” has been made perfectly by my man Zor so hit this post before the open: We... »

The US, Britain, and Europe are together embarking on a sudden and severe tightening of fiscal policy, in unison, before economic recovery has reached safe take-off speed. The experiment was last tried in the 1930s. By Ambrose Evans-Pritchard Telegraph.co.uk The theoretical model behind the austerity push – known as an “expansionary fiscal contraction” –... »

By Janet Novack Forbes.com It seems obvious that the legislation President Obama has just signed raising the national debt ceiling in return for $2.4 trillion in deficit cuts won’t lead to tax hikes or the sort of loophole- closing, revenue raising tax reform that the President, his bipartisan deficit closing commission and the Senate’s... »

Rothbard’s The Mystery of Banking by Gary North LewRockwell.com The Mystery of Banking is a unique academic treatise on money and banking, a book that combines erudition, clarity of expression, economic theory, monetary theory, economic history, and an appropriate dose of conspiracy theory. Anyone who attempts to explain the mystery of banking – a... »

by Laurence M. Vance LewRockwell.com The vote in the U.S. House of Representatives on Monday night to raise the debt ceiling by $2.4 trillion was significant in more ways than one. S. 365, which passed by a vote of 269-161, including the support of 174 Republicans, featured the vote of a House member who... »

Phony scientist rationalizes latest TSA outrage by Justin Raimondo LewRockwell.com So, you’re sick and tired of being hassled by Transportation “Security” Administration (TSA) thugs, who fondle your “junk” and force 95-year-old grandmothers to take off their adult diapers? Well, that’s tough – because it’s about to get worse. Since 2006, the TSA has been... »

By Chuck Baldwin August 4, 2011 NewsWithViews.com The big story this week is the decision of the US Congress and Senate to raise the debt ceiling. Did this really surprise anyone? Despite millions of pieces of communication from their constituents to the contrary, congressmen and senators voted by substantial margins to increase the debt... »