http://ml-implode.com/
Gives a list of all the lenders that have imploded in the mortgage lending industry- sobering!
The Home Of The Bruce Collins Show
Tuesday, July 31, 2007
News of Interest for July 31st...
Wow, it's August already (ok, theoretically it's August tomorrow)!
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
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
News of Interest for July 30th...
Possible Attack on the U.S. Within Ninety Days
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?
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
Big Finale Guest Tonight: Craig Pepin-Donat...
Craig Pepin-Donat is going to talk about fitness and health- what works, what doesn't work and what is an outright scam.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.
News of Interest for July 27th...
Happy Friday!
Jitters...Feds: Economy Growth Best in a Year...
Boy's Lemonade Stand Robbed... Obviously, a crime perpetrated to feed the subprime credit addiction
Heavy Metal: Prices will stay sky-high for years
Thursday, July 26, 2007
Wednesday, July 25, 2007
Tuesday, July 24, 2007
Bruce Collins with Ron Paul
I gladly accept running alongside as V.P. (ok, I can dream).
The Freedom Revolution is coming to your town!
Monday, July 23, 2007
Saturday, July 21, 2007
Death Spiral
Great article from my friend (and a guest twice on The Big Finale), John Rubino:
DEATH SPIRAL
by John Rubino
DollarCollapse.com
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.
From Bloomberg:
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
DollarCollapse.com
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.
DEATH SPIRAL
by John Rubino
DollarCollapse.com
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.
From Bloomberg:
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
DollarCollapse.com
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.
Thanks to Jerry E. Smith for being a wonderful guest last night on The Big Finale..
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
News of Interest for July 19th...
As dollar crumples, tourists overseas reel
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
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
News of Interest for July 18th...
US Preparing Domestic Clampdown? Thanks to Stevequayle.com
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!
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
News of Interest for July 17th...
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
News of Interest for July 16th...
Iran Locked on to 600 Targets in Israel
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
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
Ron Paul's speech from the rally on Saturday
By the way, excellent show with David Lowe and Peter Goodgame. We'll have the archive up soon....
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
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
I'll be at the Ron Paul rally today...
Big Ron Paul rally in Mountain View, CA today (www.ronpaulrally.com). Guest speakers include G. Edward Griffin, Joe Bannister and Justin Raimondo. The main speaker, of course, is Ron Paul.
Should be a great deal of fun.
Should be a great deal of fun.
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