Tuesday, July 31, 2007
More firms hit by meltdown in subprime loans
Consumer confidence near 6-year high - This is pretty interesting. I wonder if this is 1929/'everything is great' mentality.
Retirement risk: Who's falling short
Housing Death Knell for the Economy
Let's see what they are saying overseas:
Sub-prime crisis may trigger global meltdown
Monday, July 30, 2007
Using Terrorists to Establish World Government, Pt 1
FBI Wants Funds for Phone Records
Bay Area foreclosures skyrocket
Silicon Valley mortgage defaults spike
Debt Crunch Is Taking On A Global Scale
A Great Depression for Housing?
Friday, July 27, 2007
Craig's website is http://www.fitadvocate.com/
He'll be with us tonight for the full hour on The Big Finale at 7pm PST/ 10pm EST.
Feds: Economy Growth Best in a Year...
Thursday, July 26, 2007
MS-13 Gang Seeks to Unite Nationwide
San Diego County foreclosures rise 551% in first half of 2007
San Francisco 4th Riskiest Housing Market
Foreclosures go through the roof across the SF Bay Area
Wednesday, July 25, 2007
Tuesday, July 24, 2007
Monday, July 23, 2007
FED Chairman: Delusional or Deceptive?
Traders Ask How Low Can the Dollar Go
Cereal Supply Shortage Puts Crunch on Processors
Trillion Dollar Debt Bomb
Desperation Loud and Clear in San Jose Area
Saturday, July 21, 2007
by John Rubino
July 20, 2007
In “The Coming Collapse of the Dollar,” James Turk and I said this about the effect of a falling dollar on other countries:
Recall that the only reason Japan or Europe can generate even their current meager rates of growth is the willingness of U.S. consumers to buy their Hondas and BMWs. As the dollar plunges, Japanese and European goods, priced in suddenly-appreciating currencies, will become prohibitively expensive for U.S. consumers, who will respond by buying U.S.-made alternatives or nothing at all. Correctly interpreting this change in buying patterns as a threat to their vital export sectors, European and Japanese leaders will respond with the only weapon they have left: monetary inflation. They’ll cut interest rates and buy dollars with their currencies, flooding the world with euros and yen the way the U.S. now floods the world with dollars. The result of these “competitive devaluations” will be a death spiral for all major fiat currencies, in which European or Japanese bonds will fare as badly as their U.S. cousins.
This week the markets got a glimpse of how the competitive devaluation story might play out, as Europe confronted the impact of a “strong” currency. For the past few years, the European Central Bank has shown admirable restraint, raising rates in response to a surging money supply and allowing the market to set the value of the euro. This in turn has caused the euro to soar against the dollar, testing the premise that a system as fragile as Old Europe can’t tolerate an appreciating currency for long. And sure enough, France has begun lobbying for—get this—the right to vote on European Central Bank interest rate policies.
Trichet's Rebuke of French Government Widens Rift With Sarkozy
July 19 -- Jean-Claude Trichet's rebuke of a French demand for a greater voice for governments in setting interest rates deepened a rift with President Nicolas Sarkozy.
``Such declarations are not acceptable,'' European Central Bank spokeswoman Regina Schueller said yesterday on behalf of Trichet. ``The president of the ECB repeats with gravity that any attempt'' to influence the ECB violates the European Union's founding treaty.Sarkozy has complained that the Frankfurt-based central bank's eight interest-rate increases since late 2005 have driven the euro to a record, threatening European exports. While Sarkozy has retreated from a challenge to ECB independence, he said last week he and Trichet are not ``on the same wavelength.''
``For Trichet, more lobbying from the French government undermines the credibility of the ECB and that's what worries him, which is why he's hitting back,'' said Julian Callow, chief European economist at Barclays Capital in London. ``The battle will get more intense as the euro continues to rise.''
The euro rose 0.2 percent yesterday to $1.3810 at 6:11 p.m. in Paris, retreating from a record of $1.3833 set earlier. It's up almost 5 percent this year and 55 percent since the end of 2001.
Sarkozy has criticized the bank's exclusive focus on inflation, and Trichet has questioned Sarkozy's tax cuts that would violate a French pledge earlier this year to reduce the nation's budget deficit.
Trichet’s European Central Bank won this early skirmish, of course. By law the ECB is independent, so a frontal assault by France or any other European country isn’t going to succeed—at first. But anyone who thinks the Eurozone welfare states will maintain their composure with the euro at, say, $1.50, simply doesn’t understand how democracy works in this late, decadent stage of its evolution. If the dollar keeps falling against the euro—as market forces pretty much guarantee that it will in the absence of major intervention—the euro system will have a nervous breakdown. Under pressure from exporters no longer able to sell to U.S. consumers, member governments will change the ECB charter and force it to cut rates, or they’ll start opting out of the common currency, or they’ll adopt wildly inflationary tax-and-spend policies designed to offset the rising euro.
However it plays out, the result will be a world in which competitive devaluations drive the price of all the major currencies inexorably towards their intrinsic value, which is the paper on which they’re printed. But it might be a while before most people notice. As surreal as this sounds, if the major fiat currencies are falling more or less in tandem, to unsophisticated eyes they’ll continue to appear to be stable. That’s been the case for the past few years, with the prices of oil, gold, healthcare and food soaring (which is another way of saying that paper currencies are plunging) while mainstream analysts proclaim inflation low and many of the world’s currencies “strong.”
But as this process accelerates, the fiction of strong and weak currencies will be harder and harder to sell. Inflation will migrate from “good” things like houses and stocks to life’s necessities, and the link between prices and the unit in which prices are expressed will become clear to everyone. Then the death spiral begins.
© 2007 John Rubino
John Rubino is the author of The Coming Collapse of the Dollar (co-written with James Turk), How to Profit From the Coming Real Estate Bust (Rodale, 2003), and Main Street, Not Wall Street (William Morrow, 1998). A former Wall Street financial analyst and columnist with theStreet.com, he currently writes for Fidelity Magazine and CFA Magazine He lives in Moscow, Idaho. Contact by Email.
Jerry E. Smith, as usual, was an outstanding guest last night. I really enjoyed learning about the 'Spear of Destiny'. I don't know what to make of it but if the spear truly carried 'power' to cause things to happen amongst powerful leaders, I suppose there could be something sinister controlling it. It's a fascinating topic and we got down to a lot of great information and lore surrounding this most mysterious relic.
In case you missed it, I'll have the archive up sometime this week. JUST A REMINDER: Soon, 99.9% of information on The Big Finale will be found at www.411ing.com/TheBigFinale.html.
I'm converting BruceDCollins.com into a site devoted mostly to my books (as I plan to devote some time to publishing one or two books in the near future).
Have a great weekend all!
Thursday, July 19, 2007
Housing market to slump till year end (and well beyond...)
Bernanke Warns Housing Slump Will Slow Economic Growth
Hate Bill Holds America Hostage
Pentagon Starts Spin Unit to Target Talk Radio, Bloggers Once they kill free speech, the American dream is over. Fight this tooth and nail.
'Late, Great USA' a New York Times Best-Seller
Wednesday, July 18, 2007
Gold rallies on Bernanke's subprime concern Wrong. Gold rallied on Bernanke's inflation concern. As I stated twenty four hours ago, the Fed telegraphed what I just predicted yesterday- they will convey their inflation concerns which will justify future rate increases- but they will not be able to raise rates fast or severely enough to combat runaway inflation.
Difficult conditions worsened in the second quarter
Ron Paul emerges as GOP's unlikely rock star candidate ROCK on!
Tuesday, July 17, 2007
It's really the big question: will we face Depression era deflation or 1970's style inflation. The answer is probably both. It looks like inflation is the current issue and don't be surprised (even though a lot of contrarians are predicting rate cuts) if the Fed does not cut rates and, in fact, has to raise rates. They won't be able to raise rates fast enough to stem the inflationary problems but they will sharply destroy the home mortgage industry- in other words, the worst is yet to come in that sector.
Monday, July 16, 2007
Goodbye America, Hello North American Union
Public Forums Denied on Upcoming SPP Summit
Mortgage Equity Withdrawal Syndrome: The 3rd Rail of the Housing Led Boom
Oil Eases After Hitting Fresh 11-Month High
This Generation Shall Not Pass Me The Remote
A justification for $5,000 gold
U.S. subprime woes deal major blow to dollar
Toll Brothers' debt outlook now negative - Moody's
Ron Paul faces the Google masses
Sunday, July 15, 2007
This is the video from Ron Paul's speech on Saturday. I'll have pictures later in the week!
Part 1: http://www.youtube.com/watch?v=l-l-os1LYjo
Part 2: http://www.youtube.com/watch?v=EmbN1PdfN44
Part 3: http://www.youtube.com/watch?v=pMESWU9dAT0
Part 4: http://www.youtube.com/watch?v=oL534Mj01kQ
Saturday, July 14, 2007
Thursday, July 12, 2007
It'll be fantastic.
Wednesday, July 11, 2007
Tuesday, July 10, 2007
>>Investors appeared to largely overlook a speech on inflation by Federal Reserve Chairman Ben Bernanke, who said energy price spikes have not led to persistent inflation or a recession in recent years.<<
Monday, July 09, 2007
And, now the rest of the story (sorry, Paul Harvey):
American Debt Has Destroyed American Independence
Nuclear Alert by Ex-Head of MI5
Gold stock rally beginning
Increasing rate of foreclosures upsets Atlanta
Sunday, July 08, 2007
Saturday, July 07, 2007
Join me Saturday at 9am PST/ 12pm EST for full coverage of the Ron Paul rally from Mountain View California. I will be there and will be reporting the events live.
I will be bringing a laptop, a digital camera and possibly a webcam.
It will be live at http://www.ronpaulrally.blogspot.com/. Hope you can make it!
I have conversed with one of the folks behind the scenes with the Ron Paul Rally in Mountain View, CA. Due to the Wi Fi that is available from Google (Google HQ is nearby), bloggers will be welcome to bring their laptops and blog during the rally.
I won't be blogging but I will report on the event later in the day. I will be having lunch in a group of about 200 people after the rally. Ron Paul will be present.
The speakers that will precede Ron Paul are also very dynamic speakers. G. Edward Griffin wrote The Creature From Jekyll Island, which was a very important indictment of the Federal Reserve.
Joe Bannister was an IRS agent who figured out that there was not a law requiring people to pay income taxes. He left the IRS, stopped paying taxes and then when the government took him to court for not paying taxes, he won!
Check out the full list of activities: www.RonPaulRally.com
Friday, July 06, 2007
Thursday, July 05, 2007
"Name That Test & Tune" premieres on the Speed Channel on July 15th during the Launch Hour.
I only knew him as the young man who made tremendous mistakes in a quest for instant riches. 'Get rich quick' never works but most of us, if we are honest, would probably admit to chasing instant wealth at least once in our lives - usually (and hopefully) when we were young enough to rebound from the ill fated experience.
However, what has transpired recently, is that Serin has apparently realized that money is beyond his reach and fame is the next best thing. I believe this to be the case. His debt must be piling up daily. CashCall isn't getting any wealthier from him.
About the book
In all seriousness, does Casey really believe that droves of people will buy his book? It is not going to be marketed, after all, by a major publisher and as near as I can tell, it's going to be sold as an 'e-book' from someone who resembles the same 'class' as the Rich Jerk (www.richjerk.com). Can you imagine a massive amount of people getting a book about someone's bad mistakes from a shyster looking website? I can't!
The cover is very cool, in my opinion. I like that. However, I can't understand the angle of the book and how people would find it interesting. It's all rehashed news.
My book hasn't been a 'bestseller' but it did have a niche audience- because some people do actually like wrestling and there was a uniqueness to it as there was never an 'insider' book on how to promote the sport. However, how do you categorize a book whose sub-title is "A Mistake." This isn't self help (?). This isn't a success story. Where is the niche audience? Everyone can read about the unfortunate events on Casey's blog (www.iamfacingforeclosure.com) for free.
I have to be honest and say that I am fascinated by all of this because I don't know what's going to happen next. I'm also hopeful, or maybe wishful is a better term, that Casey will turn his life around and seek spiritual, emotional and financial counseling. I do read the blog regularly but I can't see spending money on what is already free.
Unfortunately, Casey has also apparently abandoned his family. Sad. True enough, usually your family will forgive you in time (although his marriage may be over since he left his wife for Australia) but trust will be incredibly hard to build in the years to come.
It's a fascinating world that Casey Serin lives in...
Ron Paul having a rally near Google HQ in Mountain View, California- very close to where I live and work. Needless to say, I'll be there and I hope you will, too!
Saturday, July 14th at 10am-- with some outstanding guest speakers (who were in the documentary, America:Freedom to Fascism). Should be a wonderful event.
For more info: www.ronpaulrally.com
See you there!
Warning: this story is pretty horrific.
Thanks to all who have purchased the book- AND sincere thanks to all who read this blog, listen to Monster Radio or The Big Finale!
Paperback: 152 pages
Publisher: Imprint Books (October 3, 2003)
Product Dimensions: 7.8 x 5.2 x 0.4 inches
Shipping Weight: 7.2 ounces (View shipping rates and policies)
Average Customer Review: based on 5 reviews. (Write a review.)
Amazon.com Sales Rank: #31,420 in Books (See Bestsellers in Books)
(Publishers and authors: Improve Your Sales)
Proposed OSHA Regulation Threatens Firearm and Ammunition Industry
Kansas Shoppers Step Over Dying Woman
Number of unsold homes increases
CLAIM: 45 Muslim doctors planned US terror raids...
Wednesday, July 04, 2007
Today, on the fourth no less when drunk drivers will sadly be using automobiles as dangerous bumper cars, we hear that ethanol is also affecting the price of beer.
Aside from this being a heavy blow to the pocketbook of Al Gore's son (GORE'S SON JAILED AFTER 100MPH DUI, DRUG BUST... oops, sorry- got a little political there), this is truly another sign of the dreaded "I" word that is feared by government spinmeisters and CNBC bubbleheads.
Make no mistake, inflation is coming hard. While some deflationary effects taking place in the over-leveraged housing market/ fiasco.
Tuesday, July 03, 2007
For more info: speedtv.com
Layoff Fears Part of 'New Normal'
Oil Hold Above $71 a Barrel
Bear Stearns Meets Possums in Georgia as Foreclosures Increase
Key home sale index slides to six-year low
Credit crunch will 'shred investment portfolios to ribbons'