Peter Schiff: Time Is Running Out, “Crisis Worse Than 2008 Coming”

 

We are headed for disaster, and the only question is how long the economy can dodge a bullet.

The illusory bubble on Wall Street claims to be at record highs, but the reality, the underbelly, is dark indeed.

Economic expert Peter Schiff speaks on not only the safe haven of gold, and what is at stake in the election, but just how dire the financial consequences will be when the great storm hits and batters everyone. Continue reading

Yellen Is Trapped in the Worst Nightmare Ever

Fed is really caught between a rock and a very dark place. Yes, they have the IMF and the world pleading with them not to raise rates for it will hurt other debtors who borrowed excessively using dollars to save money. The Fed is also caught between domestic policy objectives that dictate they MUST raise rates of they will bankrupt countless pension funds and international where emerging markets will go into default because commodities have collapsed and they have no way of paying off this debt that has risen to about 50% of the US national debt. Continue reading

Hot money exodus ends currency wars

Turkey’s efforts to pull the lira off record lows on Monday are likely to be emulated across emerging markets as central banks fight to avert an exodus of foreign capital driven by the impending turn in US policy.

It’s all a far cry from a year or so ago, when emerging market exporters were battling rising exchange rates and Brazil was accusing Western policymakers of waging currency wars by flooding the world with cheap money. Continue reading

China’s property bubble will burst in latter half of 2013, says research firm

Inflated by high-end speculation and the flow of cheap money, China’s property bubble seems to keep on growing and now it’s nearing its popping point, says the founder of a Hong Kong-based research firm.

Gillem Tulloch of Forensic Asia told Reuters the “bubble” will burst in the second half of this year once China stops “injecting ridiculous amounts of credit into the economy.” Continue reading