(MotleyFool) – Peter Schiff: “We’re in the Early Stages of a Depression”
In August 2006, Peter Schiff, president of Euro Pacific Capital, offered what many considered to be an outlier prognosis for the economy: The exuberance would end, real estate prices would crash back down to earth, and consumers would revert to saving from spending. In short, a deep recession was in the works.
As outlandish as he may have sounded at the time, he was right. Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression. Read More Here
(BusinessInsider) – 9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon
The latest NFIB survey of small business optimism came out today, and once again the headline optimism index number showed surprise weakening. And since small businesses are where jobs are created after a recession, this is problem. Read More Here
(MarketWatch) – Reagan insider: ‘GOP destroyed U.S. economy’
“How my G.O.P. destroyed the U.S. economy.” Yes, that is exactly what David Stockman, President Ronald Reagan’s director of the Office of Management and Budget, wrote in a recent New York Times op-ed piece, “Four Deformations of the Apocalypse.”
Get it? Not “destroying.” The GOP has already “destroyed” the U.S. economy, setting up an “American Apocalypse.” Read More Here
(WSJournal) – The Wall Street Home Resale Fee – Read More Here
(WashPost) – Cash-hungry states add casinos, lure same gamblers – Read More Here
(USAWatchDog) – When Will Financial Armageddon Begin? – Read More Here
(DailyReckoning) – The US Government’s Secret Plan to Destroy the Dollar
Alright then. So yesterday we made a claim that the Fed has ways of causing inflation in the same way that the Gestapo has ways of making you talk. But it was merely a claim. We didn’t prove it.
Today, we offer incontrovertible proof that the Federal government of the United States intends to inject money directly into U.S. households using an obscure provision of the recently passed Dodd-Frank shemozzle (only click on that link if you are masochist…it is a PDF of the entire Bill as passed by the thieves and rent-seekers currently passing themselves off as servants of the public in the U.S. Congress). Read More Here
(Reuters) – Freddie Mac says needs $1.8 billion from taxpayers – Read More Here
(CityJournal) – The Golden State’s War on Itself – How politicians turned the California Dream into a nightmare – Read More Here
(OpEdNews) – As The Economic Team Bails, The System Fails To Create Jobs (Again) – Read More Here
(Money&Markets) – Massive Wealth Shift in Full Swing – Martin D. Weiss, Ph.D. – Read More Here
(AfricanCrisis) – South Africa Shocking Mega strike: Nearly 1 million government workers set to take action – Read More Here
(PoorRichardsBlog) – America Goes Dark
The lights are going out all over America – literally. Colorado Springs has made headlines with its desperate attempt to save money by turning off a third of its streetlights, but similar things are either happening or being contemplated across the nation, from Philadelphia to Fresno. Read More Here
(CampaignForLiberty) – The Economy in Pictures
“Truth persists and illuminates, even if there is no one to utter it.” Government is not the solution; rather, it is causing the problems. The below slides (view at Scribd, backup PDF) highlight the economic situation, updated from a May presentation. I’ve written about the solutions to the unemployment problem, the deficit, Social Security, and the high costs of health care which are linked below. Read More Here
(MotherJones) – The Climate Bill is Officially Dead. Now for Plan B.
Bummed about the Senate dragging its feet on climate? There’s a new report out from the Presidential Climate Action Partnership that outlines five big things the Obama administration can do on climate before the next big United Nations climate meeting in Cancun this November. Read More Here
(Reuters) – Video: Fed takes steps to aid recovery
The U.S. central bank will buy more government debt, in a move aimed at keeping borrowing costs low and help prop up the economy.