Global Market Commentary, Analysis and Investments
Remember our report from yesterday: “Generation Jobless” was how The Wall Street Journal put it. Here’s more. From the blog “Economic Collapse:”
19 Statistics About The Poor That Will Absolutely Astound You.
#1 According to the US Census Bureau, the percentage of “very poor” rose in 300 out of the 360 largest metropolitan areas during 2010.
[Read more...]A revolution is underway — one that will topple the existing order.
It’s not the sort of revolution that decapitates monarchs or murders czars. But a revolution is underway, and it is the kind that’s going to overthrow faith in government.
But that’s not necessarily a bad thing. In fact, it might be a very helpful thing.
[Read more...]So much information and so many ideas come to us daily in the financial press. We’re able to fill up our trash basket in just minutes.
In The Financial Times, for example, Larry Summers recently offered a solution to America’s housing debt problem. And in The Herald Tribune our favorite comedian, Thomas L. Friedman, tells us about the next Internet revolution and what a wonderful world it will create.
[Read more...]Question: How many finance chiefs does it take to perpetuate a monetary crisis?
Answer: Twenty…and all of them convened in Paris last weekend.
The finance chiefs from the “Group of 20” nations convened to propose and discuss various bailout schemes for the euro zone.
[Read more...]But when the melancholy fit shall fall
Sudden from heaven like a weeping cloud,
That fosters the droop-headed flowers all,
And hides the green hill in an April shroud;
Then glut thy sorrow on a morning rose…
Global equity markets are sinking again today, as the euro zone credit crisis deepens.
According to the rumor mill, a default by the Greek government is not merely inevitable, it is imminent. As a result, the cowboys up in Germany and France are circling the wagons.
“Germany may be getting ready to give up on Greece,” Bloomberg News reports, “as the credit markets signal growing concern about the smaller nation’s ability to repay investors. Yields on Greek two-year notes rose above 60 percent today for the first time…
[Read more...]If I leave here tomorrow
Would you still remember me?
For I must be travelling on, now,
’Cause there’s too many places I’ve got to see.
— Free Bird by Lynyrd Skynyrd
Bullying small and medium businesses, sending armed goons to American factories, confiscating private property, closing down production and harassing business owners and their employees; a curious strategy for nurturing domestic job creation, wouldn’t you say?
[Read more...]“The people will be crushed under the burden of taxes,
loan after loan will be floated; after having drained the
present, the State will devour the future.”
– Frédéric Bastiat, French libertarian economist, 1850
Stocks managed to eek out a bit of a rally yesterday. The Dow was up nearly 100 points by the session’s close. (Approximately equal to the amount it gave back within the first sixty seconds of trading today.) Gold, meanwhile, is up $8 over the past 24 hours. An ounce this morning goes for just over $1,540. And bitcoins…they’re back to $14.50 a piece. Hmmm…
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The Difference Between OWC and Anti-Vietnam Protests
The Occupy protesters imagine that they stand in a great tradition of American radicalism, willing to stand up to the man and risk arrest in order to achieve their goals. The most obvious case of such a mass movement would be the anti-war protests of the 1960s. They started small and grew and grew until they became mainstream and actually affected a dramatic policy change. The U.S. military pulled out of Vietnam, implicitly conceding defeat and mourning the long history of calamity.
[Read more...]