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The commercial real estate bust is in full swing. This $3 trillion mortgage market is standing to push hundreds of banks into failure and adding additional strain to the embattled FDIC.
A piece in the Financial Times today discusses how commodity prices have surged this week as the US National Oceanic and Atmospheric Administration (NOAA) warned of a strong 2010 hurricane season. Oil and natural gas prices have jumped...
A must see! Features: Thomas Woods and Gerald Celente. To steal a line from Ernie - this documentary shows just how screwed we really are! I haven't been this depressed since Jack spoke at the Breakfast Club meeting....and I think they used many
The blown-out BP oil well in the Gulf of Mexico had been gushing at a rate of 12,000 to 19,000 barrels a day, spewing at least 18 million to 28 million gallons of oil since the accident occurred, according to a revised flow rate released by...
Are you worried that we are passing our debt on to future generations? Well, you need not worry.
Analysts were looking for 455,000 initial claims. This weekly number, which is volatile, has totally stalled out in terms of getting better in recent months, remaining stubbornly at 450K and above. Last week it was over 470K.
"We are not the only city, municipality to be going through this. It looks like Los Angeles sometime next week or the week after will be going bankrupt. It looks like there will be 30 more cities following suit."
This 9.6% annualized contraction is unprecedented in the post-Depression era, and shows how, in this sense, America isn't printing more money. There are actually less dollars in the system since U.S. money supply is crashing...
The U.S. government’s Aaa bond rating will come under pressure in the future unless additional measures are taken to reduce projected record budget deficits, according to Moody’s Investors Service Inc. The U.S. retains its top rating for now becau
By far the most pessimistic take on the oil spill comes from oil guru Matthew Simmons, who was on The Dylan Ratigan Show this afternoon. His warning: There may be no way to stop the leak, and it could take 9000 days (over 24 years)...
Markets all over the world went down again yesterday. The Dow dropped below 10,000 in the morning trading…then came back to give up a modest 22 points by the closing bell.
This may not be a correction. Not even a bear. What's coming could be worse than the 2000 dot-com crash and the 2008 meltdown combined, a "Super-Bubble" says Soros.
The Trouble With the '64 Civil Rights Act, Ron Paul on federal power vs. freedom - Property Rights, Liberty, and Immigration, Glenn Jacobs – Kane – says the traditional libertarian approach is the right one.
The worker, Naomi Cohn, told The Post that she was hired and fired a number of times by Census. Each time she was hired back, it seems, Census was able to report the creation of a new job to the Labor Department.
This was the fourth increase in the last five months and followed a slight March decrease. Excluding transportation, new orders decreased 1.0 percent.
In fact, the U.S. Department of Agriculture forecasts that enrollment in the food stamp program will exceed 43 million Americans in 2011. Is a rapidly increasing number of Americans on food stamps a good sign or a bad sign for the economy?
The state of California has borrowed $6.9 billion. Michigan has borrowed $3.9 billion, Illinois $2.2 billion.
July and onward things get very strange. Revolution. Dollar dead by November 2010.
Today, the euro. Tomorrow, the dollar. The euro is taking a beating. Investors are worried that it won’t survive Europe’s debt problems.
Nations Will Print Money, Go Bust, Go to War…We're Doomed - Nullifying Tyranny - Coercive Edicts Can't Solve Social Problems - Harry Browne on civil rights and the growth of government - Gun Control Insanity - The Big Gold Rally Beckons
The grand experiment of the State controlling the private economy has failed. The grand experiment was to eliminate capitalism (risk, loss, destruction of wealth via competition) from "Capitalism" and thus banish competitors to the Plutocratic Elites
The trend is not sustainable, says University of Michigan economist Donald Grimes. Reason: The federal government depends on private wages to generate income taxes to pay for its ever-more-expensive programs.
Apartment building loans are experiencing soaring default rates, in what could be a signal of things to come for the broader commercial real estate sector.
If President Obama repeals the Bush tax cuts and imposes a 20 percent value added tax, or VAT, on the U.S., Americans may be facing tax rates where more than half of everything earned is confiscated by the federal government in the form of income tax
To avoid those unpredictable contingencies, municipal governments will keep a cushion of from 20% to 75% more than their budgets actually require. This money is invested, but not necessarily lucratively. One finance officer, for example, said that
Oil prices fell to near $69 a barrel Tuesday in Asia as plunging regional stock markets and a weaker euro rattled the confidence of commodity investors. Benchmark crude for July delivery was down $1.08 to $69.13 a barrel at midday Singapore time i
A must watch two part interview of Eric Sprott by BNN, in which the Canadian asset manager shares his views on the economy, financial markets, sovereign overleverage, industrial commodities, and, of course, gold.
There are currently 20 very large institutions (with $25 billion or more in assets) in our vulnerable or “weakest” category, including Bank of America, Citibank, Wachovia, HSBC Bank USA, SunTrust, Regions Bank, RBS Citizens, plus the 13 others...
It's not what we've been told. Arthur Brooks of the American Enterprise Institute does a very good job of drawing the political-cultural battle lines in this rewarding essay published in, of all places, the Washington Post.
A crowd estimated at 30,000 to 35,000 people gathered Saturday near New Jersey's Statehouse to protest Gov. Chris Christie's proposed budget cuts.
