Peter Schiff Warns This One Event Will Wipe Out Entire Generations of Retirees

In an interview with GoldSeek on April 14, outspoken economist Peter Schiff issued a dire warning to investors.

According to Schiff, a new housing bubble, an overvalued stock market, and President Trump‘s proposed stimulus plan will send the U.S. into extreme panic at some point in the near future.

In fact, Schiff thinks these catalysts will combine to cause an “inflationary maelstrom” that will “wipe out entire generations of retirees” who have their nest eggs invested in the market.

Let’s take a look… Continue reading

UNITED STATES OF EUROPE: Greece’s ruling Syriza party calls for FEDERAL eurozone

Nikos Pappas

Greek government minister Nikos Pappas wants stronger European links [GETTY]

 

SUPPORTING the European Union goes hand in hand with supporting federalism and Brussels should make a stronger push for ever-closer union, Greek government minister Nikos Pappas has declared.

Mr Pappas said proclaiming a pro-EU stance without backing federalism was “meaningless” and amounted to “talking the talk but not walking the walk”.

In an interview with Greek newspaper Avgi, the Minister of Digital Policy, Media and Telecommunications and a close ally of prime minister Alexis Tsipras, insisted Europe should strengthen its rhetoric promoting serious integration. Continue reading

America’s Retailers Are Closing Stores Faster Than Ever

 

  • Rue21 may be latest casualty as it prepares bankruptcy filing
  • Amazon is gobbling up most of the industry’s online growth

The battered American retail industry took a few more lumps this week, with stores at both ends of the price spectrum preparing to close their doors.

At the bottom, the seemingly ubiquitous Payless Inc. shoe chain filed for bankruptcy and announced plans to shutter hundreds of locations. Ralph Lauren Corp., meanwhile, said it will close its flagship Fifth Avenue Polo store — a symbol of old-fashioned luxury that no longer resonates with today’s shoppers. Continue reading

“This Is Not The Reaction The Fed Wanted”: Goldman Warns Yellen Has Lost Control Of The Market

 

With stocks soaring briskly around the globe following Yellen’s “dovish” hike, and futures set for a sharply higher open with the Nasdaq approaching 6,000, something surprising caught our attention: in a note by Goldman’s Jan Hatzius, the chief economist warns that the market is overinterpreting the Fed’s statement, and Yellen’s presser, and cautions that it was not meant to be the “dovish surprise” the market took it to be.

Specifically, he says that while the FOMC delivered the expected 25bp hike, with only minor changes to its projections. “surprisingly, financial markets took the meeting as a large dovish surprise—the third-largest at an FOMC meeting since 2000 outside the financial crisis, based on the co-movement of different asset prices.”

Even more surprisng is that according to Goldman, its financial conditions index, “eased sharply, by the equivalent of almost one full cut in the federal funds rate.”

In other words, the Fed’s 0.25% rate hike had the same effect as a 0.25% race cut! Continue reading

No President Will Escape Fed’s Debt Bomb – Feb 4, 2017

Continue reading

Deutsche Bank MELTDOWN: Shares plunge as bank tries to raise £6.9BILLION in call for cash

Deutsche Bank’s share price plunged on Monday [Bloomberg]

 

DEUTSCHE Bank shares have dived by six per cent after it announced a shock share sale aimed at raising €8billion (£6.9bn) of cash in a desperate bid to shore up the German giant.

The chief executive John Cryan previously said such a move would be a last resort for the bank.

Now Germany’s largest lender wants to raise the extra capital amid reports of more legal issues, which could lead to more big fines for the troubled firm.

It is the fourth time the bank has had to turn to investors for extra cash since 2010 and suggests Mr Cryan’s previous plans to save the bank have failed. Continue reading

The Coming Great Wealth Transfer

WakingTimes.com

 

Spoiler alert! It’s already here.

In the past, I’ve warned about the coming Great Wealth Transfer.  But now we need to talk about it in the present tense, because it’s here.

And it will only accelerate from here on out. The Rich will get richer at the expense of everybody else.

This isn’t personal. It’s simply a feature of what happens near the end of a debt-based monetary system run by corruptible humans. Continue reading

Trump Avoid Debt Crisis ? “Extremely Unlikely” – Rickards

Remember to keep an eye on March 15th as mentioned in a previous post, the poison pill left by the Obama administration where “everything will grind to a halt”.

 

The Congressional Budget Office, CBO, estimates that inflation and real GDP will each grow at about 2% per year in the coming ten years. This means that nominal GDP, which is the sum of real GDP plus inflation, will grow at about 4% per year. Since debt is incurred and paid in nominal terms, nominal GDP growth is the critical measure of the sustainability of U.S. debt.

 

Trump Avoid Debt Crisis ? “Extremely Unlikely” says Rickards

The upcoming March 15 U.S. debt ceiling deadline is something that is being largely ignored by markets and most media for now. Despite it being just 9 trading days away. This will change in the coming days and is one of the many reasons why we are bullish on gold.

James Rickards writing for the Daily Reckoning today looks at the important ‘next signal to watch’ and explains that Trump and his advisors believe they can avoid a debt crisis through higher than average growth. Continue reading

Greek Gov’t is 40% of GDP

 

QUESTION:  Hello, I do not understand what Martin say about the fact that the Greek debt doubled when it changed into euro. Indeed, if the currency is twice the value of the old one then all your debt will double as Martin said. However all your assets will double in value too. So it is the same situation as before. I may miss something, could you please explain me what I am missing? Continue reading

Warning Signs a Stock Market Crash Is Coming

The Dow has soared 13% since Election Day, and just last week (Feb. 10), all three major indexes closed at all-time highs. The “Trump Rally” has been great for stocks, but some observers are starting to wonder if soaring highs mean a stock market crash is coming.

No one can predict a stock market crash with 100% certainty. But we want our readers to be as informed as possible about what could happen in the market.

That’s why we’re looking into historic stock market crashes to identify warning signs that can be used now. Continue reading

EURO COLLAPSE: Italy to QUIT EUROZONE in final nail of coffin for EU, warns top economist

As corrupt as Varoufakis is, he’s right that the German-led EU wants to crush its own member states. Its aim is to make vassal states out of them.

 

Yanis Varoufakis and Italy

Yanis Varoufakis has warned Italy is about to quit the union

 

ITALY could be set to pull out of the Eurozone in what would be the final nail in the European Union’s (EU) coffin, Greece’s former finance minister has warned.

Yanis Varoufakis said there was an “epidemic” among countries using the single currency, with Italy the next to fall foul of Brussels’ economic malaise.

He also said Brexit would “speed up” the break-down of the bloc – before making a dig at Jeremy Corbyn.  Continue reading

EUROZONE CRUMBLES: Germany orders Greece to LEAVE euro if it wants debts cut

Germany seems to be enacting plan B for its European conquest: Consolidate and strengthen.

 

Wolfgang Schaeuble

olfgang Schaeuble said Greece must leave the euro if it wants debts cut (Getty)

 

HARDLINE German minister Wolfgang Schaeuble has warned the only way Greece’s loans can be written off is through the country leaving the eurozone, as the debt crisis once again blows up.

Angela Merkel’s finance chief ruled out cutting the amount of money owed by the struggling Mediterranean state in an interview on German television.

He insisted creditors must keep the pressure on Greece to meet the strict terms of its bailout programme or kick it out of the single currency.

Markets reacted with alarm after the minister raised the prospect of a Grexit. Continue reading

Greece on ‘Explosive’ Path Inside Euro and EU

Shutterstock

 

Latest crisis could spark the end of the Eurozone.

Despite years of austerity and economic reforms, Greece cannot dig itself out of its financial hole all the time it is tied into the disastrous Euro currency. Continue reading

German Default Risk Spikes To Highest Since Brexit As Merkel Lead Plunges To Multi-Year Low

 

Germany’s Social Democrats narrowed the gap with Chancellor Angela Merkel’s bloc to the closest in more than four years, reinforcing a poll bounce after they chose outsider Martin Schulz to challenge Europe’s longest-serving leader. As Bild reports, the 6-point surge in opposition support was the biggest ever recorded for the party… and may explain why German sovereign risk spiked to its highest since Brexit.

As Bloomberg reports, support for the SPD jumped 8 percentage points to 29% from a month earlier, the highest level since the last election in September 2013, according to the Infratest-Dimap for broadcaster ARD. Merkel’s Christian Democratic-led bloc, known informally as the Union, slid 3 points to 33%. Half of those surveyed would support Schulz if the chancellor were elected directly, compared with 34% for Merkel. Continue reading

Ron Paul Warns: “Second Financial Bubble Going To Burst Soon… Even Trump Can’t Stop It”

 

By all appearances notes SHTFPlan.com’s Mac Slavo, President Trump is doing his damnedest to turn around the economy, revitalize jobs and bring back prosperity. But the larger trends are already in place; the cycle is turning, and the bust cannot be put off forever.

Federal Reserve policy has literally set the country up for collapse, and though the central bank has been very creative in making the impossible work, and putting off disaster, nothing can hold back the flood forever.

Unfortunately, it looks like Trump may be blamed for a financial crisis that he didn’t cause. Analysts, including notably Brandon Smith, may be correct in pinpointing the attempt to use the new and highly controversial president as a scapegoat for the dirty work of the bankers.

The conditions are there, and the consequences were built in when the bubble was still being pumped up. Someday it will burst. When, how, and how bad remains to be seen.

If former Rep. Ron Paul (R-TX) is correct, an Economic Doomsday is here. The second financial bubble is going to soon burst, and there’s nothing anyone can do about it. That’s because, as Paul stated, the Federal Reserve has set up the American economy for financial collapse for printing trillions of dollars back in 2008 and 2009. Continue reading