Forever

Nothing Lasts Forever; World Bank Ex-Chief Economist Calls For End To Dollar As Reserve Currency

In the past we have discussed at length the inevitable demise of the USD as the world’s reserve currency noting that nothing lasts forever. However, when former World Bank chief economist Justin Yifu Lin warns that “the dominance of the greenback is the root cause of global financial and economic crises,” we suspect the world will begin…

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Jackass Biden

Obama’s Latest Ponzi Scheme: MyRA

President Obama on Tuesday offered up a new kind of “starter” retirement accounts aimed at employees of companies that don’t offer such plans. Obama is calling them the “MyRA” and said he would, by executive order, direct the Treasury Department to create them. Details were scarce Tuesday night, but employees will be able to contribute…

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insider-trading

Marc Faber Warns “Insiders Are Selling Like Crazy… Short US Stocks, Buy Treasuries & Gold”

Beginning by disavowing Mario Gabelli of any belief that rising stock prices help ‘most’ people (“Fed data suggests half the US population has seen a 40% drop in wealth since 2007”), Marc Faber discusses his increasingly imminent fears of the markets in this recent Barron’s interview. Quoting Hussman as a caveat, “The problem with bubbles…

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Turkish lira banknotes are seen in this picture illustration taken in Istanbul

Currency War! Turkey Strikes First, Cascade Of Global Rate Hikes Next?

Editor’s Note: Historians may well look back to today’s action in Turkey as the financial ‘shot heard round the world’, and the final death knell for the US Dollar. As you will read below, Turkey’s Central Bank increased its key interest rate from 7.75% to 12.00%, a nearly unheard of 4.25% increase in one fell…

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Homeless

Infographic: Where The Homeless Are (And Are Not)

With food-stamp recipients dominated by ‘working age Americans’ for the first time in history; and 1.4 million having recently dropped off the benefits rolls, we suspect, extremely sadly, that the following breakdown of homelessness in America is about to get worse. Los Angeles has by far the greatest number of unsheltered homeless in America and New York City…

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Obama Foodstamps

Working Age Americans are the Majority of People on Food Stamps for the First Time

When people ask me to describe the state of the U.S. economy, what I always say is that it can best characterized as an ongoing state-sanctioned theft. This theft consists of the 0.01% oligarch class intentionally leveraging a corrupt monetary and political system in order to funnel all of the wealth of the non-oligarch rich…

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jim-moran1

Democratic Congressman Admits Obamacare Won’t Work (After Announcing Retirement)

“I don’t think we’re going to get enough young people signing up to make this bill work as it was intended to financially,” warned Democrat Virginia Representative Jim Moran. The Democrat, as The Daily Caller reports, seemingly daring to break ranks with his peers, added that he understood Millennial lack of signing up as “frankly,…

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Ron Paul Obummer

U.S. Debt Up $1,608,304 for Each Baby Born the Year Obama Took Office

Under President Barack Obama, the total debt of the U.S. government has increased by approximately $1,608,304 for each of the 4,130,665 babies born in the United States in 2009, the year Obama took office. Today–Jan. 20, 2009–is the fifth anniversary of Obama’s first inauguration. If the federal government were to continue accumulating net debt throughout…

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China Pollution

New Study: China Exports Pollution to U.S.

Filthy emissions from China’s export industries are carried across the Pacific Ocean and contribute to air pollution in the Western United States, according to a paper published Monday by a prominent American science journal. The research is the first to quantify how air pollution in the United States is affected by China’s production of goods…

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