Black swan: as every American knows, April is tax time in the U.S. of A, and accordingly April receipts normally vastly exceeds outlays. Not this year, for the first time in living memory, receipts are lower than outlays in April, a whooping 34% lower than last year.
The accumulated deficit for the first seven of the year is almost double the entire total for last year.
- DTCC Posts 6-Month Market Activity Snapshot on CDS Market
- Default in Today’s Advanced Economies: Unnecessary, Undesirable, and Unlikely
- The Impact of Banks’ Cumulative Reserve Position on Federal Funds Rate Behavior
- A Wolf in Sheep’s Clothing
- TBA Trading and Liquidity in the Agency MBS Market
- Impact of High and Growing Government Debt on Economic Growth
- Financial Amplification of Foreign Exchange Risk Premia
- The Central-Bank Balance Sheet as an Instrument of Monetary Policy
- Exorbitant Privilege and Exorbitant Duty
- The Information Value of the Stress Test and Bank Opacity
- Price of Risk—Recent Evidence from Large Financials
- Shadow Banking
- Summer Doldrums
- Credit Default Swaps: What Are the Social Benefits and Costs?
- The International Role of the Euro
- Chronicle of Currency Collapses: Re-Examining the Effects on Output
- The Paradox of Toil
- Links
- What the Fed Did and Why
- Markets and Government Before, During and After the 2007-20xx Crisis
- Detecting and Interpreting Financial Stress in the Euro Area
- Are We Building the Foundations for the Next Crisis Already? The Case of Central Clearing
- Links
- Links
- OIS Discounting
- Multimarket Trading and the Cost of Debt: Evidence from Global Bonds
- Is Economics Coursework, or Majoring in Economics, Associated with Different Civic Behaviors?
- China’s High Saving Rate: Myth and Reality
- Oil Spill
- Eurozone €440 Bln SPV Aid Fund
- ECB Financial Accounts and ECB Financial Strength
- Central Bank Swap Networks
- DTCC Posts CDS Market Activity Snapshot
- ECB: Financial Stability Review (June 2010)
- Global CDO Issuance by Transaction Structure
- Links
- TBAC Minutes: Sovereign CDS and Swap Spreads
- Goldman Sachs Underwriting Market Shares in Subprime RMBS and CDOs
- Abacus for Dummies
- The World’s Safest and Riskiest Sovereign Debt (Update)
- Increased Sovereign Risk Behind Negative Swap Spreads
- Haircuts
- Markets, Religion, Community Size, and the Evolution of Fairness and Punishment
- Beyond the Dollar: Rethinking the International Monetary System
- Links
- Amazing Discovery
- ABCP Outstanding: Still Crashing
- Greek Government Bond Market
- Links
- Sterling Today
those who think gold is the salvation should consider govt knows this and will either:
1. confiscate as FDR did but this time include coins or just make illegal as form of tender, you can own it just not barter with it or tax the heck out of it.
2. gold price can easily be manipulated pumped and dumped by our plutocrats
Homeland security has included gold bugs as fringe militia types thanks to the jewish antidefamation league who has been the openly acknowledged source of all those reports to law enforcement a strange phenomenom considering wealth distribution
IMHO, it’s an August dollar dive. Anyone want to start a pool, pick a week put in a buck? :-)
Got Gold?
Mark
In other news, Obama proposes special tax on gold.
Pingback: Good News and Bad News on Gold | Red Hot Energy and Gold
When the price of Gold (physical) breaks 1000 or 1,100, the stampede will occur. There always is a gold standard, there is always a pile of dollars that will get you an ounce of Gold. It is just that when a government prints incredible quantities of money, people would rather have the Gold and are willing to pay much more for it. Even with folks hoarding money and not spending it on houses and cars, but paying off their loans, it is still possible for hyperinflation. Again, the price of Gold will rise quickly as efforts to manipulate the price down fail badly.
Euro Think tanks has been all over this. They are claiming end of summer dollar collapse…the question is when does the stampede start. Better yet, how long before the equity pump distraction beomces passe?