Category Archives: Financial

21 Ways To End The Phrase ‘Americans Are So Broke…’

by Michael Snyder Did you know that 77 million Americans have unpaid debts that are “in collections” and that Congress is actually thinking about letting post offices offer payday loans?  We live in a country where almost everyone is drowning … Continue reading

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Ann Barnhardt: Completely Negative

1.  I was told recently that I am a completely negative person.  My riposte: This post will indeed be completely negative/unpleasant.  Horrifically so.  If you don’t want to read negative things and the picture of the super-cute kitty cat made … Continue reading

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US Manufacturing PMI Drops, Biggest Miss On Record

But, but, but… the rest of the world’s PMIs are soaring as soft-survey data trumps any hard data facts. US Manufacturing dropped from 57.3 to 56.3 despite analysts that were convinced it should rise further to 57.5. This is the biggest miss … Continue reading

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New Home Sales Collapse 20% From May To Dec 2012 Levels; Biggest Miss In A Year

New Home Sales in June plunged to 406k vs 504k in May  (remember that 504k print was the catalyst for ‘weather’ is over and the market to surge: it somehow was magically revised lower by more than 10% to only 442K) … Continue reading

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Your Money Is Not Safe in the Bank

The concepts of bank bail-ins and negative interest rates are relatively new and misunderstood by the general public. As people realize that their money is not safe from their government’s irresponsible fiscal policies, bank failures will become a self-fulfilling prophecy. … Continue reading

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Should We Worry About Possible Bank Runs in Europe?

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Microsoft cuts 18,000 jobs

The software giant said it would cut 18,000 jobs within the next year — about 14% of the company’s 125,000 employees. That’s by far the largest round of layoffs in the company’s history. The previous record came during the lowest … Continue reading

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They’re Coming for Your Accounts

FREEMANSPERSPECTIVE Nearly all of us grew up thinking that we registered ourselves to prove that we were safe and responsible. We advertised our services as “registered” or “licensed,” and we never thought about it beyond that point. After all, that … Continue reading

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The End of the Dollar

For those who thought the dollar would always be safe, may your chains rest lightly. The formation of an alternative to the International Monetary Fund is the last straw for our dollar. Although perception is reality has been the mantra … Continue reading

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The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

Most people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization.  He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in … Continue reading

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Mexico Looks To Back Peso With Silver: “Would Unleash a Global Power Shift”

This could be a major turn of events that will have global implications. The action’s set to unfold in Mexico, where many of its most influential and wealthy citizens are demanding the country abandon its fiat currency, the Peso, and … Continue reading

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Futures Tumble, Bunds Soar To Record, Gold Surges As Europe Is Broken Again; Espirito Santo Halted

But… but… the VIX said everything is ok, and European rates were the lowest they have been in centuries… How can something possibly go wrong? It just did. More…

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I’ll Do Anything for Money: the New Normal Behind the New Jobs Numbers

Employment grew last month thanks only to 800,000 new part-time jobs—fewer hours, lower pay, generally in the service industries. What the MSM won’t say.

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Portugal’s Largest Bank Misses Bond Payment; Bonds Collapse

Brussels, we have a problem. As we warned 6 weeks ago, Espirito Santo International SA – is in a “serious financial condition” according to a central bank driven external audit by KPMG identified “irregularities in its accounts.” Sure enough, the ‘ponzi-like’ maneuvers have … Continue reading

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European Stocks Plunge Most In 6 Months; Banks Battered

European bank stocks are down over 6% in the last 3 days to 5 month lows – the biggest such drop in 13 months. The combination of Draghi’s “no QE”, Austrian bank contagion concerns, and rumors of German banks about to … Continue reading

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“This Could Be The Last Straw” 90% Of China Loan Guarantors Bankrupt

In Wenzhou – dubbed the capital of China’s private businesses – nearly 90 per cent of loan guarantors have failed since the start of the credit crisis arising from the underground banking system, according to the media. As SCMP reports, although their … Continue reading

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The Almighty Dollar Is In Peril As The Global ‘De-Dollarization’ Trend Accelerates

As the Obama administration continues to alienate almost everyone else around the entire planet, an increasing number of prominent international voices are starting to question why the U.S. dollar should be so overwhelmingly dominant in global trade.  In previous articles, … Continue reading

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The End of the Dollar Is Accelerating

By “Punishing” France, The US Just Accelerated The Demise Of The Dollar Not even we anticipated this particular “unintended consequence” as a result of the US multi-billion dollar fine on BNP (which France took very much to heart). Moments ago, … Continue reading

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Largest Austrian Bank Crashes After “Revealing” 40% Surge In Bad Debt Provisions, Record Loss

Ever since 2012, when we first revealed that the biggest problem plaguing Europe’s financial sector is the $2 trillion+ in bad debt on the books of European banks (not our numbers, the IMF’s), it became clear that the only way Europe can avoid a complete … Continue reading

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Bulgarian central bank calls for jail time after bank runs require emergency liquidity

The Bulgarian Central Bank The Bulgarian National Bank today called on the country’s authorities to update the penal code to imprison anyone found guilty of spreading malicious rumours about the country’s financial system, following another weekend of turmoil in the … Continue reading

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As first US advisers reach Baghdad, Iranians and Saudis airlift weapons to opposing sides in Iraq

When the first of the 300 military advisers US President Barack Obama promised the Iraqi government arrived in Baghdad Wednesday, June 25, Iranian and Saudi Arabian arms shipments were already in full flow to opposing sides in embattled Iraq, DEBKAfile’s military … Continue reading

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Proof That Government Economic Numbers Are Being Highly Manipulated

By Michael Snyder How in the world does the government expect us to trust the economic numbers that they give us anymore?  For a long time, many have suspected that they were being manipulated, and as you will see below … Continue reading

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Chairman Of China’s Largest Copper Producer Commits Suicide By Jumping From Hotel

Mr. Jianghong Wei served as Chairman and Chief Executive Officer of Tongling Nonferrous Metals Group Co., Ltd While news of high-ranking financial executive suicides in the west have become week to week news, the troubling trend has spread to Asia. … Continue reading

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GDP Disaster: Final Q1 GDP Crashes To -2.9%, Lowest Since 2009, Far Below The Worst Expectation

Remember when in January 2014, Q1 GDP was expected to rise 2.6%? Well, here comes the final Q1 GDP revision and it’s a doozy: at -2.9%, far below the -1.8% expected and well below the -1.0% second revision, it is an … Continue reading

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Singapore official discusses ‘uneasy calm’, tells banks to prepare for financial collapase

by Simon Black While just about every other central bank on the planet is giving everyone two thumbs up on the economy, the deputy chair of the Monetary Authority of Singapore (Lim Hng Kiang) said last night at a dinner … Continue reading

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Inflation? Only If You Look At Food, Water, Gas, Electricity And Everything Else

http://www.youtube.com/watch?v=CuGbDyfuqgI”

Have you noticed that prices are going up rapidly?  If so, you are certainly not alone.  But Federal Reserve chair Janet Yellen, the Obama administration and the mainstream media would have us believe that inflation is completely under control and … Continue reading

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The United States Of Debt: Total Debt In America Hits A New Record High Of Nearly 60 Trillion Dollars

By Michael Snyder What would you say if I told you that Americans are nearly 60 TRILLION dollars in debt?  Well, it is true.  When you total up all forms of debt including government debt, business debt, mortgage debt and … Continue reading

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S&P Futures Jump Almost 900%

Screen shot from CNNMoney.com on June 6, 2014. Let’s hope that this is just a computer glitch instead of foreshadowing an economic collapse today (based on their current value of the S&P for the calculation). David DeGerolamo

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Iraq, Syria, Ukraine, Iran or Pakistan?

The tipping point is long overdue. There is no need to speculate which event will become the catalyst for the next World War. Or the next American Revolution. As always, people can be divided into two sides and an apathetic … Continue reading

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Here’s why (unfortunately) the ‘shocking’ Tea Party victory doesn’t matter

by Simon Black In February 1964, a 22-year old Cassius Clay (later Muhammad Ali) faced off against a gigantic Sonny Liston, the heavyweight boxing champion of the world. Liston was an imposing opponent. I mean– this was a guy with … Continue reading

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Russia Is Actually Abandoning The Dollar

The Russians are actually making a move against the petrodollar.  It appears that they are quite serious about their de-dollarizationstrategy.  The largest natural gas producer on the planet, Gazprom, has signed agreements with some of their biggest customers to switch payments … Continue reading

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Precious Metals Jump As China Unwind Fears Spread

While we have become conditioned to accepting the morning meltdown in gold and silver prices that occurs with all too frequent visible-handedness around 8am ET, this morning’s mini melt-up is odd for 2 reasons: 1) It’s Tuesday, which means sell … Continue reading

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Increasingly More Russian Companies Set To Drop Dollar, Switch To Chinese Yuan

As we have been reporting (and forecasting for the past several years), the Eurasian anti-US Dollar axis is rapidly taking shape, with recent events catalyzed and certainly accelerated by US foreign policy in Ukraine, which has merely succeeded in pushing Russia that … Continue reading

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Bank of America could pay at least $12 billion to settle probes

 Bank of America Corp (BAC.N) could pay more than $12 billion to settle probes by the U.S. Justice Department and a number of states into the bank’s alleged handling of shoddy mortgages, the Wall Street Journal said on Thursday, citing people … Continue reading

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Half The Country Makes Less Than $27,520 A Year And 15 Other Signs The Middle Class Is Dying

by Michael Snyder If you make more than $27,520 a year at your job, you are doing better than half the country is.  But you don’t have to take my word for it, you can check out the latest wage … Continue reading

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Working More to Earn Less – Why the Poor Stay Poor

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Time to Get Your Money Out of the 1′s and 0′s

The Velocity Of Money In The U.S. Falls To An All-Time Record Low When an economy is healthy, there is lots of buying and selling and money tends to move around quite rapidly.  Unfortunately, the U.S. economy is the exact … Continue reading

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A coordinated conspiracy among numerous ill veterans to avoid seeking medical care and blame their subsequent problems on President Obama.

More…

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US Economy Shrank By 1% In The First Quarter: First Contraction Since 2011

Some highlights: Personal consumption was largely unchanged at 2.09% from 2.04% in the first estimate and down from 2.22% in Q4. Considering the US consumer savings rate has tumbled to post crisis lows at the end of Q1, don’t expect … Continue reading

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Has The Next Recession Already Begun For America’s Middle Class?

by Michael Snyder Has the next major economic downturn already started?  The way that you would answer that question would probably depend on where you live.  If you live in New York City, or the suburbs of Washington D.C., or … Continue reading

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