Category Archives: Financial

From GBTV: Two very different opinions on how to avoid economic collapse

Posted on July 17, 2012 by DRenegade

On GBTV Monday night, Glenn spent some time focused on the credit crisis and where the United States economy is headed. And while they both agreed America was headed for economic trouble, they had very different opinions about what could … Continue reading →

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THE TOP BANKS IN THE U.S.

Posted on July 17, 2012 by DRenegade

POSTED BY ANN BARNHARDT – JULY 16, AD 2012 Here is the list of all of the banks in the U.S. that scored a PERFECT 0.0 on the “Texas Ratio” metric. Looking at the list, I actually know a couple … Continue reading →

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This is not a fight between liberal and conservative, it is a fight between salvation and damnation.

Posted on July 16, 2012 by DRenegade

The Sin of Inaction This is the story of America. It was born long before it was established as a refuge from religious persecution. The allure was a land where the citizens might worship as they pleased, free from government endorsement … Continue reading →

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US consumer agency to supervise credit reporting companies

Posted on July 16, 2012 by DRenegade

The U.S. consumer watchdog agency said on Monday it will start closely supervising credit reporting companies in September, bringing the industry under strict federal supervision for the first time. The Consumer Financial Protection Bureau, in adopting a rule to oversee … Continue reading →

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David Stockman: “We’re At The Fiscal Endgame”

Posted on July 16, 2012 by DRenegade
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Americans saw wealth plummet 40 percent from 2007 to 2010, Federal Reserve says

Posted on July 16, 2012 by DRenegade

The recent recession wiped out nearly two decades of Americans’ wealth, according to government data released Monday, with ­middle-class families bearing the brunt of the decline. The Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from … Continue reading →

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Big Retail Sales Miss In Longest Collapse Streak Since 2008 Recession, Confirms US Consumer Zombification

Posted on July 16, 2012 by DRenegade

Today’s advance retail sales for June was simply abysmal, printing at -0.5% on the headline, and -0.4% ex autos. Expectations were for a print of +0.2% on the headline and unchanged less autos. Gas was not the culprit either as … Continue reading →

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Obama: If you’ve been successful, you didn’t get there on your own

Posted on July 15, 2012 by DRenegade

See additional comments on Tea Party Nation. The following excerpt is from a speech by Obama in Virginia: There are a lot of wealthy, successful Americans who agree with me — because they want to give something back. They know they … Continue reading →

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The Politicians Have To Stop Doing What They Have Done Since WWII

Posted on July 15, 2012 by DRenegade

In an interview on Bloomberg TV, RDM Financial’s Ron Weiner summarizes the thing that keeps him up at night as in over thirty years he has never seen “The fate of the world economy rests so much on politicians.” Pointing … Continue reading →

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Food crisis fears as US corn soars

Posted on July 14, 2012 by DRenegade

Is the world on the brink of another food crisis? It has become a distressingly familiar question. With the price of agricultural staples such as corn, soyabeans and wheat soaring for the third summer in five years, the prospect of another price shock … Continue reading →

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What Is the Truth Behind Automobile Sales?

Posted on July 13, 2012 by DRenegade

General Motors released a report to investors stating the June auto sales were up 16%: GM Reports June U.S. Sales up 16 percent DETROIT – General Motors Co. (NYSE: GM) today reported June sales of 248,750 vehicles in the United States, … Continue reading →

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Producer Prices Unexpectedly Climb in June

Posted on July 13, 2012 by DRenegade

Producer prices unexpectedly rose in June despite big drops in energy prices, a sign that some inflation pressures could keep the Federal Reserve on guard. The Labor Department said on Friday its seasonally adjusted producer price index rose 0.1 percent … Continue reading →

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JP Morgan Admits That CIO Group Consistently Mismarked Hundreds Of Billions In CDS In Effort To Artificially Boost Profits

Posted on July 13, 2012 by DRenegade

JP Morgan Releases Earnings: Announces $4.4 Billion CIO Loss, $3.1 Billion In “Profits” From Loan Loss Reserves, DVA From Zerohedge.com: Back on May 30 we wrote “The Second Act Of The JPM CIO Fiasco Has Arrived – Mismarking Hundreds Of … Continue reading →

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Moody’s Downgrades Italy’s To Baa2 From A3, Negative Outlook

Posted on July 12, 2012 by DRenegade

Just like Spain before everyone took the country to a Sub-A rating, Fitch is once again the decider. S&P has Italy at BBB+, and Now Moody’s just took italy under A to Baa2; only Fitch is still at A-, outlook … Continue reading →

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And This Is the Good News

Posted on July 12, 2012 by DRenegade

700,000 homeowners no longer underwater on mortgages   NEW YORK (CNNMoney) — Thanks to improving home prices, fewer mortgage borrowers owe more on their homes than they are worth.   More than 700,000 homeowners were no longer underwater on their … Continue reading →

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