United States federal debt including off balance is closer to 200 Trillion. How the hell is the U.S going to pay that back. Zimbabwe the country and Weimar Republic Germany in the 1930’s didn’t have close to this amount of debt and they didn’t survive.
India is trying to curtail the import of gold. The Indian government thinks this will slow down gold purchases and this can result in gold taking a 30% drop or more.
After watching this video called the “Thrive Movement”, I wasn’t so much surprised. Much of what is in this documentary I realized years ago. Over 5 years ago, I knew that the world doesn’t operate like what governments and media tells you and I was also trying to find out why it was getting harder to get by, even with a decent paying career income?
A lot of people in the U.S have not seen raises in more than 4 years, and their paycheck incomes are being eroded by food and other inflation which the U.S government refuses to recognize, this is the new reality unfortunately.
So on Wednesday the Federal Reserve of the United States chairman Ben Bernake said that they will not do a full quantitative easing (extensive money printing or QE3), but instead continue short term treasuries purchases with “operation twist”.
The stock market reacted quite muted, then fell and on Friday bounced up a bit. The question is can the stock markets go higher from this level or can it maintain this level. In light of all the bad economic data out there and the fact that the summer months up to August and September are historically down months it would seem that the answer is a resounding “NO”.
I am going to short the NASDAQ and at the same time PUT options on AMD for Jan.2014 with strike price of $4.00 and also long on silver with ETF.
The above trades would have to wait though if the Federal Reserve decides to print more money and lift the markets of course. If Ben Bernake does do that then the decline probably won’t happen until after new year (Feb. 2013).
If Greece leaves the Euro, there will be short-term pain, but over the long run the economy will turn around, just look at Iceland who told the bankers to shove it.
NEW YORK (AP) — A former Goldman Sachs director accused of feeding confidential information to a corrupt hedge fund manager has been convicted of conspiracy and three counts of securities fraud.
A jury acquitted Rajat Gupta on two other securities fraud counts. Gupta’s adult daughters hugged and wept as the verdict was read. He showed no visible reaction.
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