DEBT

Today Brexit, Sunday Spainaggedon

by John Galt June 24, 2016 21:30 ET The political and financial elites never learn their lesson. Just twenty-four hours ago Nigel Farage of UKIP was proclaiming a narrow defeat for the “leave” faction in the Brexit election only to be surprised himself some four hours later by the overwhelming returns showing the British citizenry rejecting the bureaucratic lies and nightmare known as the European Union. Fast forward to this morning where Spain’s center-right Prime Minister Rajoy decided to act like Prime Minister David Cameron with his threats of the consequences…


Gold is Poised for a Major Breakout This Week

By John Galt May 8, 2016 08:30 ET After weeks of consolidation, the breakout and weekly close above the key $1280 support level on a weekly basis indicates that monetary stresses in Asia, Europe, and North America are becoming more severe and that this new move in gold as a flight to safety is indeed being validated with each leg up. The weekly chart also confirms the volume supporting this move and as illustrated in the daily chart below, despite attempts to sell the monetary metal below support, there are enough…


Another Economic Canary Just Croaked in Asia

by John Galt April 25, 2016 19:00 ET And everyone should be worried….. The new mantra on Wall Street and Main Street is that Europe, Asia, and the Middle East do not matter. What happens there is relatively irrelevant and just keep buying crap be it at the retail level for a new gadget or electronic game app, or in the stock market a biotech with losses of over $100 million and a product which is still five years from viability. Yet reality is happening everyday overseas and Americans had best…


Saudi Arabia to Hit Global Debt Market – Borrowing Could Equal 50% of GDP in 5 Years

by John Galt November 9, 2015 20:00 ET Whoops. The Saudis promised the world that the rapid decline in oil prices would have limited impact on their domestic economy.  Despite the public proclamations and chest thumping to reassure overseas markets and investors, in fact the Saudis have been desperate to raise cash as they have now discovered the economic reality of the difference between liquidity and actually having cash on hand. This was highlighted in none other than the website Reuters via Arabian Business on October 12th: Oil-dependent Saudi, Abu Dhabi…



12.01 Breaking News: Moody’s Downgrades Japan to A1 on Political Uncertainty

by John Galt December 1, 2014 04:45 ET Uncertainty over the future of the Japanese economy spurred on by the political dysfunction has triggered an action within the past hour which has sent a shudder through the Japanese financial system and apparently highlights a new more aggressive approach by the ratings agencies to once again warn before economic instability instead of after the fact as was the case in 2008. This downgrade is being viewed by some in Japan as an attempt to sway the upcoming elections called for by Prime…


Why did Rick Santelli Explode on TV today? Maybe it’s idiotic ideas like this…

  by John Galt July 24, 2012 22:00 ET   On CNBC today, Rick Santelli let loose with another epic rant:     Why is he so disgusted? Perhaps it’s idiotic ideas like this one presented by Steve Clemons and Richard Vague in The Atlantic on July 22nd: Economic Growth Idea: Forgive or Restructure Debt U.S. Citizens Hold   Ah yes, the grand social experiment proposed by Marxists for over a century to eradicate the greed and sins of capitalism instead of punishing the stupid and inept who made decisions that…


The Latin Spring has Begun

by John Galt April 4, 2012 19:20 ET   On December 17, 2010, a previously unknown street vendor named Mohamed Bouazizi walked out into the streets of Tunis and in protest of continued government interference and overbearing policies, set himself on fire. This act of self immolation set the entire Arab world on fire, causing romantic Western political imbeciles to think that this action and the political protests which followed were the acts of Islamic versions of George Washington and deserved the unqualified support of governments worldwide. Fast forward to today,…


AEP: The World has Run out of Options

By John Galt August 8, 2011 From this morning’s print edition of the UK Telegraph, click on the title to read the article in full: The World has Run out of Options The Great Reprieve is exhausted. The world has used up the three years’ grace gained by extreme stimulus after the debt bubble burst in 2008. By Ambrose Evans-Pritchard U.K.Telegraph 10:00PM BST 07 Aug 2011 This time we face the risk of double-dip recession without shock absorbers. Interest rates are already at or near zero in much of the OECD…



8/1 Equity Market Epic Fail in 5, 4, 3, 2…..

By John Galt August 1, 2011 Uh, so much for the Dow futures being up 180 last night….. Oops. Maybe the S&P 500 is roaring ahead to recoveryland: Oopsie again. MAYBE the NASDAQ and APPLEMANIA will save the day! Hmmmm…them damned TeaPartiers are sabotaging America once again. Maybe the dollar is surging against the Yen because after all, we’re just attempting to emulate them: Okay, can’t blame the Tea Party for this…let’s see if it is we can blame the Swiss: That pretty much sums it up. In the time it…


More Proof the Republipigs are not Serious about Controlling the Deficit Either

By John Galt July 19, 2011 Think the alleged “conservatives” have heard the voice of the Tea Party crowd yet? When one watches these two videos (h/t Time magazine, ugh) it does not take rocket science to realize that the entire Cut, Cap, Crap, and Imbalance debate is more of a charade to provide more cover for their pork versus the Democommies’ pork. Watch these two videos from YouTube as the Congress piglets attempt to defend the pork in their districts by demanding that 30 year old technology which is antiquated…


7/17 Sunday Morning Stories of Interest

By John Galt July 17, 2011 Egypt’s Military Aims to Cement Muscular Role in Government -New York Times Heavy casualties reported in Libya -Reuters Yemen army, tribes in offensive on militants in south -Reuters Foreclosure Protesters in Spain’s Cities Now Go Door to Door -NY Times Obama angers China over Dalai Lama -The Australian Tunisian police fire in air to disperse rioters -Reuters Rebekah Brooks arrested over News of the World phone hacking -U.K. Telegraph Real estate: As banks shed debt, investors swoop in -Arizona Daily Star US debt talks threaten…


No Picture

Don’t Worry, Be Happy, er, Never Mind, $3.6 Trillion Reasons to Panic

  April 14, 2011 Despite reassurances that they have the massive global financial forest fire under control, reality is speaking with a punishing story from Reuters last night: Banks Face $3.6 Trillion ‘Wall’ of Debt: IMF Published: Wednesday, 13 Apr 2011 | 11:59 PM ET REUTERS The world’s banks face a $3.6 trillion “wall of maturing debt” in the next two years and must compete with debt-laden governments to secure financing, the IMF warned on Wednesday. Oops. Maybe all those central banksters buying gold and silver are not so stupid after…


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