I tried to tell my boss that my unexplained absence was because I was so Completely Freaked Out (CFO) that I didn’t know what to do all weekend except hide like a little crybaby coward in the Big, Beautiful Mogambo Bunker (BBMB) waiting for the inevitable collapse of the entire world order because of the massive over-creation of money by the foul Federal Reserve, where I whimpered and cried in fear because We’re Freaking Doomed (WFD) and there is nothing – repeat, nothing! – that can be done.
[Read more...]Will the FOMC Announce More Quantitative Easing?
August 10, 2010 by Leave a Comment
Well, that slippage that I was seeing yesterday morning turned into a dollar rally, and has continued throughout the night with the euro (EUR) losing 1 1/4-cents… It’s about the same with Aussie dollars (AUD), and the Norwegian krone (NOK), which I highlighted yesterday, and gave it the old “Pfennig kiss of deathâ€�!
[Read more...]US Debt and Deficit Numbers Overlooked by the Mainstream
May 13, 2010 by Leave a Comment
Two big numbers made news yesterday as we approached the market close. No one, to our knowledge, made a connection between the two. But to us, the connection is screamingly obvious. And frankly, your financial future hinges on that connection.
Here’s the first number: $82.7 billion. That’s the deficit the US Treasury posted last month. That’s awful for April, which usually records a positive number, thanks to tax receipts flooding in around the 15th. Last year recorded a loss too. But that was only $21 billion. So this year, the bleeding is nearly four times as bad.
[Read more...]The Budget That Forecasts America’s Decline
February 8, 2010 by Leave a Comment
A recent analysis by David Sanger describes how US financial weakness is translating into the decline of its international power. He begins with a stark look at how the US deficit is projected to rise to 11 percent of economic output, but then goes on to explain…
“… the second number, buried deeper in the budget’s projections, is the one that really commands attention: By President Obama’s own optimistic projections, American deficits will not return to what are widely considered sustainable levels over the next 10 years.
[Read more...]
“Tax the Rich to Cut the Deficit… Just Don’t Tax Me�
What new thoughts for a Monday morning?
Corruption is not only at the top. Like a Christmas pudding steeped in rum, the whole economy – from top to bottom – reeks of it. Here’s the latest proof from Bloomberg:
Americans want Congress to bring down a federal budget deficit that many believe is “dangerously out of control,� only under two conditions: minimize the pain and make the rich pay.
[Read more...]Click for detailed story