The Debt Crisis Of 2017: Once Their Vacation Ends, Congress Will Have 4 Days To Avoid A Government Shutdown On April 29

April 2017 could turn out to be one of the most important months in U.S. history that we have seen in a very long time.  On April 6th, Donald Trump attacked Syria on the 100th anniversary of the day that the U.S. officially entered World War I, and now at the end of this month we could be facing an unprecedented political crisis in Washington.  On Friday, members of Congress left town for their two week “Easter vacation”, and they won’t resume work until April 25th.  What this means is that Congress will have precisely four days when they get […]

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The Next Subprime Crisis Is Here: 12 Signs That A Day Of Reckoning Has Arrived For The U.S. Auto Industry

In 2008, subprime mortgages almost single-handedly took down the entire financial system, and now a new subprime crisis is here.  In recent years, the auto industry has been able to boost sales by aggressively pushing people into auto loans that they cannot afford.  In particular, auto loans made to consumers with subprime credit have been accounting for an increasingly larger percentage of the market.  Unfortunately, when you make loans to people that should not be getting them, eventually a lot of those loans are going to start to go bad, and that is precisely what is happening now.  Meanwhile, automakers […]

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The Global Famine Begins: UN Announces That The Worst Food Crisis Since World War II Is Happening Right Now

We always knew that this would start happening.  Earlier this month, I wrote about the severe economic problems that are plaguing South America, but up to this point I have neglected to discuss the horrific famines that are breaking out all over Africa.  Right now there is a desperate need for food in South Sudan, Somalia, northeast Nigeria, Eritrea and Kenya.  And Yemen, even though it is not technically part of Africa, is being affected by many of the same factors that are crippling nations all over eastern Africa.  The United Nations says that more than 20 million people could […]

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12 Reasons Why The Federal Reserve May Have Just Made The Biggest Economic Mistake Since The Last Financial Crisis

Has the Federal Reserve gone completely insane?  On Wednesday, the Fed raised interest rates for the second time in three months, and it signaled that more rate hikes are coming in the months ahead.  When the Federal Reserve lowers interest rates, it becomes less expensive to borrow money and that tends to stimulate more economic activity.  But when the Federal Reserve raises rates , that makes it more expensive to borrow money and that tends to slow down economic activity.  So why in the world is the Fed raising rates when the U.S. economy is already showing signs of slowing […]

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How The Federal Reserve Is Setting Up Trump For A Recession, A Housing Crisis And A Stock Market Crash

Most Americans do not understand this, but the truth is that the Federal Reserve has far more power over the U.S. economy than anyone else does, and that includes Donald Trump.  Politicians tend to get the credit or the blame for how the economy is performing, but in reality it is an unelected, unaccountable panel of central bankers that is running the show, and until something is done about the Fed our long-term economic problems will never be fixed.  For an extended analysis of this point, please see this article.  In this piece, I am going to explain why the […]

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Foreigners Are Dumping U.S. Debt At A Record Pace And Our $20 Trillion National Debt Is Poised To Become A Major Crisis

While most of the country has been focused on the inauguration of Donald Trump, a very real crisis has been brewing behind the scenes. Foreigners are dumping U.S. debt at a faster rate than we have ever seen before, and U.S. Treasury yields have been rising. This is potentially a massive problem, because our entire debt-fueled standard of living is dependent on foreigners lending us gigantic mountains of money at ultra-low interest rates. If the average rate of interest on U.S. government debt just got back to 5 percent, which would still be below the long-term average, we would be […]

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It’s not an NHS crisis, it’s a social care disaster

You’ve probably all noticed that I haven’t been writing much lately. Well, not on this site, anyway, though I have been doing rather a lot elsewhere. In the last couple of months, my life has been upended. I suppose I should have seen this coming – the signs have been there for a long time – but the speed at which this has happened has shocked me. At the end of October, my father suffered a fall at his home on Sheppey, where he has lived alone since my mother went into a nursing home in August 2014.  He was […]

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Increased Risks for Interconnected Markets; Dr. Chris Martenson on the Possible Next Crisis

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Later in today’s program Dr. Chris Martenson joins me. And he’ll tell you why the central planners DON’T want you to own gold – and issues a chilling warning to those who are caught unprepared before the next major financial crisis. Be sure to stick around for a tremendous interview with Chris Martenson, coming up after this week’s market update. Well in this final podcast for 2016, we’ll review the year that was in precious metals markets and look ahead to the year that might be in 2017. Gold and […]

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During The Coming Economic Crisis Two-Thirds Of The Country Will Be Out Of Cash Almost Immediately

Did you know that almost 70 percent of the U.S. population is essentially living paycheck to paycheck?  As you will see below, a brand new survey has found that 69 percent of all Americans have less than $ 1,000 in savings.  Of course one of the primary reasons for this is that most of us are absolutely drowning in debt.  In fact, the total amount of household debt in the United States now exceeds 12 trillion dollars.  So many Americans are so busy just trying to pay off their existing debts that they can’t even think about saving anything for […]

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Global Recession? The Canadian Economy Shrinks At The Fastest Pace Since The Last Financial Crisis

Things have not been this bad for the Canadian economy since the last global recession.  During the second quarter of 2016, Canada’s GDP contracted at a 1.6 percent annualized rate.  That was the worst number in seven years, and it was even worse than most analysts were projecting.  This comes at a time when bad news is pouring in from all corners of the global economy.  While things in the United States are still relatively stable for the moment, the same cannot be said for much of the rest of the planet.  Canada in particular has been hit very hard […]

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