Nouriel Roubini: $600 Billion Hole Will Push US Into 'Nasty Recession'
May 22 — The number of fiscal expirations slated for 2013 will create a $600 billion hole that plunges the nation into “a nasty recession,” says New York University economist Nouriel Roubini.
At the end of this year, tax cuts are set to expire while automatic spending cuts kick in, a combination dubbed by Wall Street as a "fiscal cliff" that could siphon hundreds of billions out of the economy and offset any growth the economy may post. Read more.
Recovery or Collapse? Bet on Collapse
May 20 — The US financial system and, probably, the financial system of Europe, like the police, no longer serves a useful social purpose.
In the US the police have proven themselves to be a greater threat to public safety than private sector criminals. I just googled “police brutality” and up came 183,000,000 results. (Here are two recent brutal assaults, one deadly, by police on hapless individuals: Read more.
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Marc Faber: Looming Global Catastrophe?
May 18 — A slowdown in China poses the biggest threat to the global economy and not a Greek exit from the eurozone, says economist and investor Marc Faber, publisher of the Gloom, Boom and Doom Report.
Greece is teetering on abandoning the eurozone, which could roil global markets. Read more and watch the video.
Eric Sprott: Governments Frightened of Panic Liquidation Event
May 18 — Today billionaire Eric Sprott told King World News that governments are desperately trying to avoid a “Liquidation Event.” Sprott, who is Chairman of Sprott Asset Management, also warned the the market is liquidating, “irrespective of whether the powers that be want it or not.” Here is what Sprott had to say about the unfolding crisis: “Something has to be done because it’s totally out of control these days. I mean you can’t have bank runs (like we’re seeing). The one thing the powers that be, the central banks and the governments, have tried to do is to avoid what I call a ‘Liquidation Event.’" Read more.
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Steve Forbes: The Only Way Out Is a Return to Free Markets and Capitalism
May 18 — Steve Forbes sees a new gold standard in the next five years as current system worsens
JIM: Joining me as my special guest on the program today is Steve Forbes. He’s chairman and editor-in-chief of Forbes Media. He’s also the author of the bestselling book How Capitalism Will Save Us: Why Free People and Free Markets Are The Best Answer in Today’s Economy. And Steve’s new book coming out in July of this year is Freedom Manifesto: Why Free Markets Are Moral and Big Government Isn’t. Read more.
John Hathaway: “This Is the Bottom for Gold”
May 18 — In an interview with Louis James, John Hathaway discusses the US's economic outlook and why he's delighted by the current bearish sentiment toward gold. Read more and watch the video.
Jim Rogers: Buy Gold, Silver Before ‘More Turmoil’ Jolts the Globe
May 18 — Roiling capital markets aren't going to calm any time soon so investors would be better off putting their money in hard assets like gold, silver and agricultural commodities, says international investor Jim Rogers.
Greece is teetering on the brink of default, while the debt crisis appears to be spreading to Spain, as evidenced by a Moody's decision to cut ratings on 16 banks there. Read more.
Paul Krugman: Euro Crisis Will Spark Apocalypse Fairly Soon
May 18 — Austerity measures won't save Europe but loose monetary policies will, writes Nobel economist Paul Krugman.
The European Union and the International Monetary Fund have made over $170 billion in rescue funding available to Greece provided the country agrees to belt-tightening measures like spending cuts and public-sector layoffs. Read more.
More Web Gems
More Web Gems |
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Ron Paul to Ben Bernanke Hearing in March 2011 "What is a 'dollar'?"\ |
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Charles de Gaulle Speech by President of France Predicted the US monetary crisis in 1965 |
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Alan Greenspan Classic Essay from 1967 Gold and Econmic Freedom |
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F.A. Hayak Interview with the Austrian economist. The Futility of Socialism |
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Mike Maloney Presentation August 2011 "Debt Collapse - $20,000 Gold" |
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Two James: (Grant and Turk) Conversation May 2011. Gold, the Fed, and the state of the US. |
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Richard Nixon August 15, 1971 End of the US gold standard |
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Time Magazine |
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Jim Rogers Classic interview from 2009 Expect Civil Unrest in US and Rest of the World |
