Turkmenistan Devalues Currency By 18%, Armstrong Warns Of “Economic Collapse On A Global Scale”

  The energy-rich former Soviet republic of Turkmenistan Thursday devalued its currency against the US dollar by 18%, as AFP notes, in the latest sign of contagion among Russia’s neighbors from the plunging ruble(following Krgyzstan’s 17% plunge in 2014 and Kazakhstan’s 14% tumble). However, as Martin Armstrong warns, this is symptomatic of a deflationary contagion…

StumbleUponEmailDiggWordPressPrint
Japanese Bloodbath

BLOODBATH: Japan’s Economy Contracts 1.6% in Q3, Misses Growth Target of +2.1%

Japan’s economy is in technical recession after gross domestic product (GDP) shrank in the third quarter, defying expectations for growth. The world’s third-largest economy contracted an annualized 1.6 percent in the July-September quarter, data showed on Monday, compared with a Reuters forecast for a 2.1 percent gain. The economy contracted a revised 7.1 percent in…

StumbleUponEmailDiggWordPressPrint
China Beats America

Not Just The Largest Economy – Here Are 26 Other Ways China Has Surpassed America

  #1 When you add up all imports and exports, China now accounts for more total global trade than the United States does. #2 There is now more total corporate debt in China than there is in the United States. #3 During 2013, we sold about 121 billion dollars worth of stuff to the Chinese,…

StumbleUponEmailDiggWordPressPrint
venezuela-carrots

These Images Show How Inflation Has Made Basic, Everyday Products In Venezuela Ridiculously Expensive

The Venezuelan government calls the country’s minimum wage of Bs 4,252 per month the highest in the region. This converts to $675 per month, using the official exchange rate. But the black market rate — the real price you’ll pay — is Bs 100 to $1. Read More at Business Insider

StumbleUponEmailDiggWordPressPrint
greek-debt-crisis-jpg

Greece Will Be In Default Within 15 Months, S&P Warns

Remember Greece: the country that in 2010 launched Europe’s sovereign solvency crisis and the ECB’s own helpless attempts at intervention, which later was “saved”, only to default shortly thereafter (but without triggering CDS as that would end the Eurozone’s amusing monetary experiment and collapse the Deutsche Bank $100 trillion house of derivative cards), which later…

StumbleUponEmailDiggWordPressPrint
National Debt

The U.S. National Debt Has Grown By More Than A Trillion Dollars In The Last 12 Months

The idea that the Obama administration has the budget deficit under control is a complete and total lie.  According to the U.S. Treasury, the federal government has officially run a deficit of 589 billion dollars for the first 11 months of fiscal year 2014.  But this number is just for public consumption and it relies…

StumbleUponEmailDiggWordPressPrint
Small Businesses Closing

Small Business Ownership In America Is At An All-Time Low

According to the Federal Reserve, the percentage of American families that own a small business is at the lowest level that has ever been recorded.  In a report that was just released entitled “Changes in U.S. Family Finances from 2010 to 2013: Evidence from the Survey of Consumer Finances“, the Federal Reserve revealed that small…

StumbleUponEmailDiggWordPressPrint
The-Catch

Peak Pro Sports: Can A National Quasi-Religion (Pro Sports) Go Broke?

Attending costly games is on the margins of the household budget. When the credit card gets maxed out, attending is no longer an option. Please understand I’m not suggesting professional sports isn’t the greatest thing since sliced bread: I’m simply asking if attending pro sports games has become unaffordable to the average American. Who cares as…

StumbleUponEmailDiggWordPressPrint
Russia and China work together

What It’s All About: Russia, China Begin Construction Of World’s Largest Gas Pipeline

If after months of Eurasian axis formation, one still hasn’t realized why in the grand game over Ukraine supremacy – not to mention superpower geopolitics – Europe, and the West, has zero leverage, while Russia has all the trump cards, then today’s latest development in Chinese-Russian cooperation should make it abundantly clear. Overnight, following a…

StumbleUponEmailDiggWordPressPrint