ECONOMICROT
Discussion of Housing Bubble, US Dollar, Debt, Trade Deficit, Oil, Gold, Consumer Spending, Central Banks, Inflation, Outsourcing and the Bleak Future of the US economy
This Blog and/or the articles contained within have been referenced, linked or quoted in: Businessweek online, WSJ Online, Dollar Collapse, Safehaven, Silverbear Cafe, Financial Armageddon, Yahoo & Google Finance -- among many other blogs & web-pages... Thanks for stopping in for a read!
Saturday, July 18, 2009
Friday, July 17, 2009
Max Keiser: telling it like it is
What a breath of fresh air! Max isn't afraid to say what he knows to be true - that G.S. is corrupt, manipulates the financial system and owns the American Government
Sunday, July 12, 2009
Gerald Celente - Disintegration of empire America
By 2012:
- Tent cities
- Ghost Malls
- Boss nappings
- Roving Gangs
Saturday, July 11, 2009
Friday, July 10, 2009
Hyperinflation Nation
I watched this last night - an excellent, highly recommended 3 part series on our country's likely future - better prepare now before the dollar becomes worthless:
Part 1
Part 2
Part 3
Wednesday, July 08, 2009
Major Banks to Reject California IOU's
The State of California, virtually out of cash, started issuing IOUs, formally known as registered warrants, last Thursday after lawmakers failed to agree on a package of spending cuts to close a budget deficit that has now grown to $26.3 billion.
Since last Thursday, the state has issued nearly $230 million worth of these IOUs and there is still no budget agreement in sight.
Note: California plans to pay an interest rate of 3.75 percent on these IOUs when they mature in October.
On Monday morning (this week), a budget meeting between Gov. Arnold Schwarzenegger and legislative leaders failed to produce results - thus leading Fitch Ratings to drop California's bond rating to BBB, down from A minus the same day.
Now the problem is: Major banks (including Bank of America, Citigroup, Wells Fargo, J.P. Morgan Chase, and others) are becoming scared and plan to no longer accept these IOUs after Thursday this week (window of acceptance to close on Friday).
Bloomberg report on Bank refusal of California IOUs
Fox Business report on the same
If you want to become more informed on this IOU issue, Martin Weiss has a recent article warning of a looming, major California Bond default (Link)
This may get ugly folks
Randy




















































