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Category Archives: Economics
Did High Oil Prices Cause the 2008 Recession? What About the 2005-2006 Housing Market Collapse?
It’s a theory. One that’s better explored here. I’m curious about how this ties in to the housing story. The U.S. housing bubble peaked in 2005-2006. That was before the 2007-2008 oil shock, but gas prices were trending very high … Continue reading
Greece Default, Credit Default Swaps, and the Recent Stock Market Gains
Charles Hugh Smith thinks they’re related.
Too Much of Everything: Car Companies
Saab Is Dead News, Videos, Reviews and Gossip – Jalopnik. It happened in December, but I completely missed it. They’re even emptying the Saab museum. Kinda sad.
California Dreamin’ is Meetin’ with Reality
How Much Could California’s Government Pensions Cost Taxpayers?: This week both of California’s largest government employee pension funds, CalPERS and CalSTRS, released their portfolio earnings numbers for the most recent twelve months. In a statement released on January 24th, “CalSTRS … Continue reading
“The Coming Paradigm Shift in Silver”
A persuasive case for much higher silver prices.
The Sale on Gold and Silver is Over
I hope you got some while it was on sale. If not and you’ve been wanting in, you probably shouldn’t wait. I’m just a simple caveman, but I think the days of gold in the 1500s and silver in the … Continue reading
The Fool in the Shower
‘Fool in the Shower’ to Give Fed a Good Scalding: Caroline Baum: What the Fed is saying, in essence, is that as the economy improves, it’s appropriate to provide as much stimulus, or support, as it did in late 2008, … Continue reading
Good News, America!
Our government maxed out its credit line, so it raised the limit on its credit card, which we get to repay. Update: America Has A $16.4 Trillion Debt Ceiling
Posted in Economics
Tagged good news everyone, national debt, this is me being sarcastic
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California Dreamin’ is Meetin’ with Reality
CalPERS Earned 1.1% on Investments in 2011, Plan Assumptions are 7.75%: The nation’s largest public pension fund, the California Public Employees’ Retirement System, posted a 1.1% return on its investment portfolio in 2011, Chief Investment Officer Joseph Dear told his … Continue reading
Unlearning
Charles Hugh Smith – What Have We Learned in the Past 13 Years? Thirteen years of cheating have created a dangerous confidence that we can keep cheating by controlling the market forever. The problem for the Central State and Central … Continue reading
Hudson’s Law
“Debts that can’t be repaid won’t.” – Michael Hudson Speaking of which, the haircut on Greek bonds is now up to 80%.
EU Bans Iran from Trading Gold and Other Precious Metals
Reuters report that the EU has agreed to freeze the assets of the Iranian central bank and ban all trade in gold and other precious metals with the Iranian Central Bank and other public bodies in Iran. According to IMF … Continue reading
30 Year Mortgage Rate Down to 3.88%
Interest rates on the 30-year fixed-rate mortgage hit another low this week, averaging 3.88% in Freddie Mac’s most recent survey of conforming mortgage rates, released on Thursday. The mortgage averaged 3.89% last week and 4.74% a year ago. Rates averaged … Continue reading
Greece Bondholders May Get Just 32 Cents on the Dollar
Mish – Greek Bond Talks Edge Toward 68% Haircut Deal; Will the Deal Be Accepted? Former ECB president Jean Claude Trichet said there would be no haircuts. There were. The first Greek haircut was 21% and it was insufficient. The … Continue reading
China’s Fake Disneyland is Saddest Place on Earth; Thomas Friedman Hardest Hit
China’s Deserted “Fake Disneyland”: Situated on an area of around 100 acres, and 45 minutes drive from the center of Beijing, are the ruins of ‘Wonderland’. Construction stopped more than a decade ago, with developers promoting it as ‘the largest … Continue reading
Greek Bonds Hit 415% Interest
S&P is saying Greece is about to default on its loans. LATER: Fitch expects Greece to default on its March 20 bond payment.
2011 US Silver Eagle Sales Outstrip 2011 US Silver Production
Source. That doesn’t even include silver for US jewelry or industrial uses. Now I’m just a simple caveman, but that should put upward pressure on silver prices, amirite?
Step 1.) Get the Power. Step 2.) Get the Money. Step 3.)
How to Profit Off Marijuana Legalization (That link came up on one of my financial sites. Honest!)
Good News for California
Moody’s now rates Illinois as having the worst credit rating in the country.
Gold Ends 2011 Up 10%, Silver Down
Gold’s 10 percent gain in 2011 extends run to 11th year. Gold rose 1 percent on Friday, rebounding from losses earlier this week that sent the market briefly into bear territory, and the metal sealed its 11th consecutive year of … Continue reading
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