CANADA Canadians are getting deeper into debt, fueling spending and increasing pressure on the Bank of Canada to raise interest rates even as growth slows. The ratio of household debt to disposable income in Canada is nearing U.S. levels, according to data from Statistics Canada, the Federal Reserve and the Bureau of Economic Analysis. The [...]
Two years ago, I realized that the total American debt was too great to ever be repaid in full, so I wrote a series of article to belabor the obvious: What can’t be paid, won’t be paid. Independent calculations by John Williams (shadowstats.com), USA Today, and even the former US Comptroller General David Walker all [...]
COMMODITIES DOE crude oil inventories rose 400,000 barrels, gas rose 1.1 m/b and distillates rose 3.9 m/b. EIA reported natural gas inventories up 51 bcf. GOLD, SILVER, PLATINUM AND PALLADIUM On Wednesday spot gold fell $0.20 to $1,191.50, as August fell $7.40. Spot silver rose $0.11 to $17.80, as September fell $0.04. Gold open interest [...]
The Securities and Exchange Commission moved to defuse turmoil in the bond markets caused by ratings firms’ refusal to allow their credit ratings to be used in deal documents. Late Thursday the agency said it would temporarily allow bond sales to go ahead without credit ratings in bond offering documents, a move that would end [...]
The last time a state defaulted on its bonds, it took eight years and the federal government’s help to come up with a remedy. When Arkansas defaulted on its bonds in 1933, the politicians and investors talked about the same things we would talk about today. The state blamed underwriters for allowing it to sell [...]
Now you can see how propaganda and psychological-war is conducted. Every once in awhile the writer pops up from nowhere and has perfect cover and backing and the message is sent. We look for this all the time and we find a number of writers are involved in misinformation. That often is how we know [...]
The talk of recovery pervades insider thinking. The major media worldwide plays the same refrain. This is a desperate attempt to befuddle the public with misdirected propaganda to preserve confidence in a system that is in a state of collapse. As CNBC leads the charge, loss of faith in the system grows with each passing [...]
