http://www.reuters.com/article/idUSN0418093920091204
According to the Congressional Budget Office, the FY2010 deficit is already nearly $300 billion just two months into the ‘new year’. The shortfall is on pace to top $1.7 trillion if the current rate continues. Given the plans for new and expanded stimulus packages, it would seem a good bet that 2010 will easily top 2009.
How anyone can be a dollar bull in this environment is beyond common sense.
After the first weekend of the Holiday shopping season, there were jubilant members of the mainstream press virtually jumping out of their skins at the news that holiday spending was looking strong. The initial counts showed an uptick in spending and that was all the MSM needed. Interestingly at the [...]
2011 had been touted as the year that everything would change. Massive paradigm shifts would rock our world and many a prophecy was made regarding financial crises, currency crises, wars, rumors of wars, and there was even one fellow who said the world itself would end, although he later retracted [...]
Editor’s Note: As long as the bankers don’t get their way, the downgrades and raids on national treasuries / economies will continue. When they bankers get their way, the pain stops. Just go back and take a look at the chronology of what has happened over the past several years [...]
Editor’s Note: Not again! Weren’t we told a month ago that this problem was fixed? Guess it had to be kept quiet over the shopping season so that spending would be healthy.. Lucas Papademos, Greece’s new technocrat prime minister, faces a race against time to secure a second financing package [...]
Editor’s Note: The IMF should know; they’re the ones moving the chess pieces in this game… chief Christine Lagarde warned Tuesday that the world economy is at a “very dangerous juncture,” speaking of the potential impact on poorer nations during her first visit to Africaas head of the fund. The [...]
Co-Authored by Gregory Olson, CEO – GRO Enterprises One of the traps all analysts fall into from time to time is their inability to see the forest through the trees. We are all guilty of this from time to time, and those who would deny this simple reality only set [...]
Editor’s Note: “No I don’t know where the money is”.. “No, I didn’t intend to break any rules”.. Does anyone really believe a word that comes out of the former Goldman boy’s mouth??? As the first former U.S. senator to be subpoenaed by Congress in more than a century, Jon [...]
As I wrote in the last installment regarding the situation in Europe, matters are progressing there much more quickly now as the continent sways back and forth between financial oblivion and a nervous peace brought about by paper promises (yes, paper promises) by central banks around the world. The purpose [...]
Editor’s Note – Even the mainstream press is coming to the realization that there is no fixing the Eurozone’s debt problems; just postponing the inevitable. BRUSSELS (AP) – Under pressure to deliver shock treatment to the ailing euro, European finance ministers failed to come up with a plan for European [...]
Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself for just $10 a share to JPMorgan Chase [...]
