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.
My piece on bank reform will have to delay until Monday evening. I am still working on it. Tonight’s piece is on entitlements and pensions globally and locally. I ... [Link]
Chers lecteurs, mon temps et mon énergie sont comptés et j'ai envie de parler de trois sujets, mais ne peut dans l'immédiat en traiter qu'un. Quelles sont vos préférences? J'hésite ... [Link]
Critical thinking helps in any field. I have the pleasure of participating in a discussion list that explores many issues where critical thinking is a focus. The members have a ... [Link]
M is for Managing Director:Crafty, elusiveKowtows to clients; but to juniors abusiveSleek and well-groomed, heSwans about like a divaSteal clients or credit?He attacks with a cleaverPompous, self-loathingHis wife and kids ... [Link]
You’ve got to hand it to President Barack Obama’s expected Fed picks - they have some strong consumer credentials. Peter A Diamond co-wrote a book with Peter Orszag, now OMB ... [Link]
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May 12th, 2009 at 9:13 pm
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?
May 13th, 2009 at 4:01 am
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.
May 13th, 2009 at 11:06 am
[...] U.S. Government Receipts Collapse [...]
May 13th, 2009 at 1:26 pm
In other news, Obama proposes special tax on gold.
May 13th, 2009 at 4:07 pm
IMHO, it’s an August dollar dive. Anyone want to start a pool, pick a week put in a buck? :-)
Got Gold?
Mark
May 14th, 2009 at 5:23 pm
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