This channel was created on April 10, 2007, during the peak of the housing mania, to warn investors of the coming collapse in home prices. For quite some time we have warned investors to get out of U.S. stocks. This channel represents the best of the best in finance related links. Also follow my recommended reading on twitter.com/myprops. http://myprops.org/channels/Housing-Bubble/ Fri, 20 Nov 2009 22:26:52 GMT http://backend.userland.com/rss RSS.NET: http://www.rssdotnet.com/ Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-November-18-2009-recording/ Thu, 19 Nov 2009 16:51:47 GMT In a report entitled "Worst-case debt scenario", the bank's asset team said state rescue packages over the last year have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems. Overall debt is still far too high in almost all rich economies as a share of GDP (350pc in the US), whether public or private. It must be reduced by the hard slog of "deleveraging", for years. "As yet, nobody can say with any certainty ... http://myprops.org/content/Socit-Gnrale-tells-clients-how-to-prepare-for-global-collapse/ Thu, 19 Nov 2009 03:33:12 GMT (Bloomberg) This is a must see interview for everyone. Marc Faber Says `Sky Will Be The Limit' for Rising Gold Price. Faber says the US will print and print and print money for years, maybe 5 years or longer. He says in 5 years 50% of US tax revenue will be used to cover US interest payments and at that point complete monetization will be necessary. He doesn't believe the US stimulus will be withdrawn. He sees another stimulus plan coming in the US and even more after that. He sees ... http://myprops.org/content/Marc-Faber-Says-Sky-Will-Be-The-Limit-for-Rising-Gold-Price/ Wed, 18 Nov 2009 23:27:06 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-November-11-2009-recording/ Thu, 12 Nov 2009 16:13:24 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-November-04-2009-recording/ Thu, 05 Nov 2009 14:53:19 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-October-28-2009-recording/ Thu, 29 Oct 2009 15:53:29 GMT An Overview Of The Housing/Credit Crisis And Why There Is More Pain To Come. Includes 198 charts of info on mortgages, default rates, reset schedules, underwater home owners, unsold housing inventory, vacant houses, foreclosures, falls in house prices. http://myprops.org/content/More-Mortgage-Meltdown-Chart-Presentation/ Sat, 24 Oct 2009 12:58:31 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-October-22-2009-recording/ Thu, 22 Oct 2009 22:07:24 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-October-14-2009-recording/ Thu, 15 Oct 2009 16:03:05 GMT By Ambrose Evans-Pritchard You can date the end of dollar hegemony from China's decision last month to sell its first batch of sovereign bonds in Chinese yuan to foreigners. Beijing does not need to raise money abroad since it has $2 trillion (£1.26 trillion) in reserves. The sole purpose is to prepare the way for the emergence of the yuan as a full-fledged global currency. "It's the tolling of the bell," said Michael Power from Investec Asset Management. "We are ... http://myprops.org/content/China-calls-time-on-dollar-hegemony/ Thu, 15 Oct 2009 15:40:57 GMT by Martin Hutchinson October 12, 2009 The Financial Times last Tuesday noted a disturbing new trend - hedge fund and other investors are increasingly seeking to invest in physical commodities themselves, rather than in futures. Given the excess of global liquidity, this is not entirely surprising. It does, however, raise an ominous possibility of a supply shortage in one or more commodities, caused by investor demand that exceeds available mine output and inventory. That could potentially ... http://myprops.org/content/When-Money-Becomes-Worthless/ Wed, 14 Oct 2009 17:58:18 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-October-07-2009-recording/ Thu, 08 Oct 2009 12:53:34 GMT RSS Search Feed for 'inflation' in Finance. (You can now get RSS feeds for any search term, either ordinary search or category search ... Just click the RSS link at the top of the search results.) http://myprops.org/content/MyProps-Inflation-News-RSS-Feed/ Wed, 07 Oct 2009 21:35:14 GMT RSS Search Feed for 'gold' in Finance. (You can now get RSS feeds for any search term, either ordinary search or category search ... Just click the RSS link at the top of the search results.) http://myprops.org/content/MyProps-Gold-Investors-RSS-Feed/ Wed, 07 Oct 2009 08:06:48 GMT With what has happened in the world of late and what will be unfolding in the next 5 years or so those few investors who fully understand the impact the current economic situation is going to have on future inflation, the USD, interest rates, the stock market, physical gold and silver and gold and silver stocks and warrants in particular are going to be in the unique position of being the benefactors of currently unimaginable returns and wealth. All they need do, as I like to say, is "Just ... http://myprops.org/content/Can-Gold-and-Silver-Equities-Expect-5000-percent-Returns-Again/ Wed, 07 Oct 2009 01:32:23 GMT Three Government Reports Point to Fiscal Doomsday by Martin D. Weiss, Ph.D. 10-05-09 When our leaders have no awareness of the disastrous consequences of their actions, they can claim ignorance and take no action. Or when our leaders have no hard evidence as to what might happen in the future, they can at least claim uncertainty. But when they have full knowledge of an impending disaster . they have proof of its inevitability in ANY scenario . and they so declare in their official ... http://myprops.org/content/Three-Government-Reports-Point-to-Fiscal-Doomsday/ Tue, 06 Oct 2009 11:40:37 GMT The US already has over $100 Trillion in obligations. The "stimulus" spending will not stop and cannot stop. Unemployment is still rising. Home prices are still falling. Rates must be kept low. The US wants to "re-flate" its economy. A weaker dollar helps accomplish this. The United States wants and needs a weaker dollar. Meanwhile China is still growing, building out infrastructure and locking down huge quantities of commodities through deals with major companies and countries worldwide. ... http://myprops.org/content/Gold-at-3000-an-ounce-is-going-to-look-dirt-cheapbefore-2010-is-done/ Mon, 05 Oct 2009 21:19:42 GMT Oct. 2 (Bloomberg) -- The number of U.S. lenders that can't collect on at least 20 percent of their loans hit an 18-year high, signaling that more bank failures and losses could slow an economic recovery. Units of Frontier Financial Corp.,Towne Bancorp Inc. and Steel Partners Holdings LP are among 26 firms with more than one-fifth of their loans 90 days overdue or not accruing interest as of June 30 -- a level of distress almost five times the national average -- according to Federal Deposit ... http://myprops.org/content/Banks-With-20-percent-Unpaid-Loans-at-18-Year-High-Doubts-Over-Recovery-Deepen-957497/ Fri, 02 Oct 2009 17:29:39 GMT Commentary and weekly watch by Doug Noland I was inspired to put a few thoughts together after pondering Jim Grant's interesting op-ed piece in last Saturday's Wall Street Journal, "From Bear to Bull". Along with Mr Grant, I don't want to be associated with the term "permabear". It implies a dogmatic lack of objectivity - the kiss of death for sound analysis. I've been bearish for awhile and I remain so. My view is firmly analytically based. Yet it doesn't mean that I ... http://myprops.org/content/From-Bear-to-Bear/ Fri, 02 Oct 2009 14:39:27 GMT David Serchuk, 09.22.09, 6:00 PM ET It's tempting to consider gold overbought. It currently trades at $1,017 an ounce, near its all-time high. It's survived two asset bubbles with flying colors. It sells for three times its April 2001 decade low of $255 an ounce. Now you have all kinds of cheesy, late night TV pitch-men screaming that they will buy your gold while former Richard Nixon staffers hock gold coins--things seem a bit overheated. Two years ago it was time to quit your job and get a ... http://myprops.org/content/Golds-No-Bubble-823408/ Fri, 02 Oct 2009 14:29:21 GMT Top investors in precious metals are waiting for a pullback to buy, but they say gold looks like a promising inflation hedge well into the future. China is hungry for it, too. By Bill Fleckenstein On a recent trip to New York, I had the opportunity to meet with my (very successful) metal trader friends and some other smart investors, as well as listen to a star-studded cast of brilliant thinkers/investors who shared their world views at the Grant's Interest Rate Observer fall ... http://myprops.org/content/The-case-for-inflation-and-gold/ Fri, 02 Oct 2009 14:27:30 GMT Stocks opened the new month and new quarter with a tumble following disappointing reports on jobless claims and the ISM manufacturing survey. The Dow fell 2.10%, the S&P lost 2.58% and the Nasdaq shed 3.06% Thursday, once again raising questions about the rally's sustainability. Bill Strazzullo, chief market strategist of Bell Curve Trading in Boston, isn't ready to declare the bull dead, but he is advising clients to reign in their horns. "The time for aggressive buying has ... http://myprops.org/content/Time-for-Aggressive-Buying-Has-Past-Stocks-Slump-to-Start-Q4/ Fri, 02 Oct 2009 14:24:06 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-September-30-2009-recording/ Thu, 01 Oct 2009 13:44:33 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-September-23-2009-recording/ Thu, 24 Sep 2009 15:39:33 GMT Undoubtedly you have seen some of the personal videos of the tsunami that hit Thailand and Indonesia in 2004. A normal day on the beach with the waves gently slapping the shoreline, moving back and forth as the ocean always does. For some strange reason though, the next wave does not come up to shore and the water is seemingly being pulled back into the ocean. Then, without warning, the next wave rushing toward the shore keeps growing larger and higher until the people realize that this is ... http://myprops.org/content/The-golddollar-tsunami/ Wed, 23 Sep 2009 07:58:07 GMT Gold bull still has a long way to run By Adam Hamilton & Scott Wright | 21.09.2009 One-thousand Federal Reserve Notes per troy ounce! This past week gold edged over $1000 to close at its highest levels ever witnessed. This much-maligned investment has nearly quadrupled since its secular bull's humble beginnings in April 2001, a fantastic 297% gain compared to the S&P 500's pathetic 7% loss over this 8+ year span. With gold being the best-performing major asset of this decade, ... http://myprops.org/content/Gold-bull-still-has-a-long-way-to-run/ Wed, 23 Sep 2009 07:57:02 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-September-16-2009-recording/ Thu, 17 Sep 2009 13:03:27 GMT The $12.1 trillion debt ceiling is fast approaching 'over the limit' status. Unless Congress raises it, Uncle Sam won't be able to pay what the country owes. NEW YORK (CNNMoney.com) -- Congress has raised the debt ceiling four times in the past two years and will probably have to do it again in the next month. With the government borrowing record amounts of money, the nation's current debt ceiling of $12.1 trillion will be pierced soon. That ceiling is the cap on how much the country ... http://myprops.org/content/U.S.-governments-12.1-trillion-debt-ceiling-is-fast-approaching-over-the-limit-status.-Unless-Congress-raises-it-the-country-will-go-into-default-on-its-debt/ Thu, 17 Sep 2009 09:20:06 GMT Congressman Ron Paul discusses the failures of Keynesian economics, the true cause of the financial crisis, and the need to end the Fed. http://myprops.org/content/Great-Depression-2-Ron-Paul-discusses-the-failures-of-Keynesian-economics-the-true-cause-of-the-financial-crisis-and-the-need-to-end-the-Fed/ Tue, 15 Sep 2009 21:16:57 GMT Both bank credit and the M3 money supply in the United States have been contracting at rates comparable to the onset of the Great Depression since early summer, raising fears of a double-dip recession in 2010 and a slide into debt-deflation. "There has been nothing like this in the USA since the 1930s," he said. "The rapid destruction of money balances is madness." The M3 "broad" money supply, watched as an early warning signal for the economy a year or so ... http://myprops.org/content/US-credit-shrinks-at-Great-Depression-rate-prompting-fears-of-double-dip-recession-34953/ Tue, 15 Sep 2009 16:52:05 GMT The US economy faces a difficult time ahead as consumers stop spending and the fallout escalates from the collapse of the commercial real estate market, economist Nouriel Roubini told CNBC. Repeating his prediction that the economy faces a threat of a "double-dip" recession and at best a slow-growth U-shaped recovery, Roubini said in a live interview that more banks will fail and residential real estate prices have more room to decline. Additionally, non-government bonds will ... http://myprops.org/content/US-Economy-Facing-Death-by-a-Thousand-Cuts-Roubini-770520/ Tue, 15 Sep 2009 14:50:19 GMT Keep up to date on the latest news from dozens of high quality sources. Gold is going much higher in the next year! http://myprops.org/content/MyProps-Gold-news-feed/ Sun, 13 Sep 2009 02:06:07 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-September-09-2009-recording/ Thu, 10 Sep 2009 17:54:19 GMT By Mike Swanson Gold is clearly headed to 1000 an ounce now. Last week we saw a key breakout in both gold and gold stocks, with many gold stocks up over 15% in just the past two trading sessions. The HUI and XAU both closed at new highs for the year last week too. This is key, because normally the trend in gold stocks leads the metal - meaning when gold stocks outperform the metal and go up faster than the metal it is bullish for both. For disclosure purposes I am long gold stocks. I started ... http://myprops.org/content/Gold-at-1000-Next-hot-rally-to-1300-1700-level/ Thu, 10 Sep 2009 11:32:23 GMT Hyperinflation Nation starring Peter Schiff, Ron Paul, Jim Rogers, Tom Woods, Gerald Celente, and others. Prepare now before the US dollar is worthless. --------------------------- FORT LEE, N.J., Sept. 8 /PRNewswire/ -- The National Inflation Association today released the following statement to its http://inflation.us members: "While the mainstream media has officially declared the U.S. recession over and an economic recovery here, NIA believes what the media sees as an ... http://myprops.org/content/Hyperinflation-Nation-3-part-video/ Thu, 10 Sep 2009 11:31:02 GMT LONDON (Reuters) - The price of gold could rise as high as $1,600 an ounce as investors opt for assets with lasting value rather than volatile currencies, says one hedge fund manager who has increased his exposure to the precious metal. "All the fundamentals are in place. If it breaks last year's high it can go to $1,200 to $1,400 quite quickly," Pedro de Noronha, managing partner of Noster Capital told Reuters in an interview on Tuesday. Spot gold rose through the ... http://myprops.org/content/Hedge-fund-eyes-gold-at-1600/ Wed, 09 Sep 2009 21:44:13 GMT History repeating itself? President Obama has been accused by some economists of making the same mistakes policymakers in the US made in the Great Depression, which followed the Wall Street crash of 1929, pictured Photo: AP His policies even have the potential to consign the US to a similar fate as Argentina, which suffered a painful and humiliating slide from first to Third World status last century, the paper says. There are "troubling similarities" between the US President's ... http://myprops.org/content/It-is-not-impossible-that-the-US-will-experience-the-kind-of-economic-collapse-from-first-to-Third-World-status-experienced-by-Argentina-under-the-national-socialist-governance-of-Juan-Peron/ Mon, 07 Sep 2009 21:05:12 GMT By Nicholas Larkin Sept. 7 (Bloomberg) -- Gold, little changed near a six- month high in London today, may rise toward $1,000 an ounce as a weakening dollar increases the metal's appeal as an alternative investment. Silver climbed to a 13-month high. The dollar slipped as much as 0.4 percent against the euro as a report showed European investor confidence increased for a second month in September. Gold tends to rise when the greenback weakens. Bullion last surpassed $1,000 on Feb. ... http://myprops.org/content/Gold-May-Advance-Toward-1000-as-Weakening-Dollar-Spurs-Demand/ Mon, 07 Sep 2009 21:03:53 GMT The US Federal Reserve's policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy. By Ambrose Evans-Pritchard, in Cernobbio, Italy Published: 9:06PM BST 06 Sep 2009 Cheng Siwei, former vice-chairman of the Standing Committee and now head of China's green energy drive, said Beijing was dismayed by the Fed's recourse to "credit ... http://myprops.org/content/The-US-Federal-Reserves-policy-of-printing-money-to-buy-Treasury-debt-threatens-to-set-off-a-serious-decline-of-the-dollar-and-compel-China-to-redesign-its-foreign-reserve-policy/ Mon, 07 Sep 2009 21:03:17 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-September-02-2009-recording/ Thu, 03 Sep 2009 13:53:24 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-August-26-2009-recording/ Thu, 27 Aug 2009 12:49:45 GMT August 25, 2009 "Paper money eventually returns to its intrinsic value - zero." ~ Voltaire "The Federal Reserve in collaboration with the giant banks has created the greatest financial crisis the world has ever seen. The foolish notion that unlimited amounts of money and credit created out of thin air can provide sustainable economic growth has delivered this crisis to us. Instead of economic growth and stable prices, (The Fed) has given us a system of government and finance that now ... http://myprops.org/content/The-Federal-Reserve-Must-Die-by-Jim-Quinn/ Tue, 25 Aug 2009 12:23:52 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-August-19-2009-recording/ Thu, 20 Aug 2009 12:57:14 GMT NEW YORK (Reuters) - A massive rally in U.S. stocks since March has reawakened bullish spirits, but insiders are jumping out of the market in a sign the run up is getting stretched. Company executives are selling stock at a rate not seen in two years after a near 50 percent rise in the S&P 500 from a March 9 low. That suggests directors and managers may think stock prices are nearing the top end of their range in the current economic climate. There has been a decline in short interest ... http://myprops.org/content/Company-insiders-are-selling-stock-at-a-rate-not-seen-in-two-years-after-a-50-percent-rise-in-the-the-March-lows/ Tue, 18 Aug 2009 09:00:10 GMT US stocks have risen almost 50 per cent from their lows in March, a turbo-charged performance that ranks as the best post-war market rebound. Biggest bull runs on equity marketsFive months and counting since the lows in March has the S&P up 49 per cent, eclipsing the 43 per cent rally reached 105 trading days after the lows of August 1982. Investors in other established equity markets have also enjoyed big rallies from their March lows. Japan's Nikkei 225 index has bounced 50 per ... http://myprops.org/content/A-rally-with-troubling-aspects-The-money-trade-right-now-is-the-March-rally-its-a-momentum-play-and-not-based-on-a-fundamental-change/ Sat, 15 Aug 2009 16:19:29 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-August-12-2009-recording/ Thu, 13 Aug 2009 13:25:38 GMT New bull, new bubble, new meltdown by 2012 Commentary: Brutal 'collateral damage' will follow recovery By Paul B. Farrell Aug 11, 2009 ARROYO GRANDE, Calif. (MarketWatch) -- Something's in the air. You can feel it. A new bull. Hype? Maybe, but also a roaring new bull -- and eventually another meltdown. Television is a metaphor for our cycles, so see how America's becoming a huge ratings competition: * "America's Got Talent." Complete with kooky judges like ... http://myprops.org/content/Revolution-coming-with-next-meltdown-326148/ Thu, 13 Aug 2009 10:12:28 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-August-05-2009-recording/ Thu, 06 Aug 2009 12:17:16 GMT Given the devastation of Wall Street and financial markets in 2008, a lot of folks have been surprised gold hasn't fared better. Since March 2008, gold has twice been rebuffed at the $1000 level, disappointing its most ardent supporters. But Peter Boockvar, equity strategist at Miller Tabak, notes gold is the best performing asset over the past year and is only a few percentage points from its all-time high despite "all this deflationary talk." Given the Fed's unprecedented ... http://myprops.org/content/A-Lot-of-Room-on-the-Upside-for-Gold-as-the-Dollar-Wobbles/ Tue, 04 Aug 2009 23:25:11 GMT July 31 (Bloomberg) -- The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed. The world's largest economy contracted 1.9 percent from the fourth quarter of 2007 to the last three months of 2008, compared with the 0.8 percent drop previously on the books, the Commerce Department said today in Washington. "The current downturn beginning in 2008 ... http://myprops.org/content/REVISED-ECONOMY-2X-WORSE/ Fri, 31 Jul 2009 15:16:08 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-July-29-2009-recording/ Thu, 30 Jul 2009 15:15:25 GMT By MARIE COCCO | Posted Tuesday, July 28, 2009 4:20 PM PT So is there good news, or bad? Are we poised for an economic rebound or are we perched on the edge of another unnerving cycle in which Wall Street analysts - along with politicians with a huge stake in talking things up - try to chat us out of our funk? Goldman Sachs, fresh from returning the $10 billion infusion of taxpayer money that helped keep it afloat during last fall's credit crisis, posted a record-breaking $3 billion profit ... http://myprops.org/content/Is-It-Recovery-If-Its-Confined-To-Wall-Street-619248/ Wed, 29 Jul 2009 13:09:26 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-July-22-2009-recording/ Thu, 23 Jul 2009 13:46:30 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-July-15-2009-recording/ Thu, 16 Jul 2009 13:34:58 GMT WHY THIS BUBBLE BUST IS NO DIFFERENT THAN PAST BUBBLE BUST: The Pragmatic Capitalist's Instablog Why do bubbles form and why do markets crash? Both are intriguing questions and both are the result of the inefficiency of human psychology. The cornerstone of my investment approach lies in one core belief: through the study of human psychology we can come to the conclusion that humans are irrational creatures. Put 1 million humans in a room with blinking lights, ever changing prices ... http://myprops.org/content/How-Bubbles-End-Chart/ Thu, 16 Jul 2009 00:17:51 GMT 2004-2009 Pompous Prognosticators Revisited: 2004 1. "The ability of lending institutions to manage the risks associated with mortgages that have high loan-to-value ratios seems to have improved markedly over the past decade." - Alan Greenspan [February 2004] 2005 2. "Home sales are coming down from the mountain peak, but they will level out at a high plateau, a plateau that is higher than previous peaks in the housing cycle." - David Lereah, Chief Economist, National ... http://myprops.org/content/Pompous-Prognosticators-Revisited/ Wed, 15 Jul 2009 12:02:24 GMT Steve Keen, an Australian economist NOT of the neo-classical school, argues the downturn is driven by deleveraging and that demand cannot pick up while consumers de-leverage from historically high levels of debt compared to GDP. The increase in Government debt is insufficient to offset the fall in private debt / increase in saving as a proportion of GDP. When increasing debt added 16% to demand in 2007 and debt is now decreasing (consumers are increasing saving/debt repayment) that demand is not ... http://myprops.org/content/Debtwatch-36-July-2009-Its-the-Deleveraging-Stupid-Steve-Keens-Debtwatch/ Sun, 12 Jul 2009 08:46:53 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-July-08-2009-recording/ Fri, 10 Jul 2009 02:47:59 GMT David Rosenberg, the Toronto-based chief economist for Gluskin Sheff and former chief North American economist for Merrill Lynch, recommends Asia, commodities, and fixed income, but not US stocks. Q. You've written that we're in a deflationary environment based on the loss of earnings power in North America yet you are also a commodity bull. Can you square that circle? A. Asia and China are reviving much more quickly than the rest of the world. And China is the world's largest buyer of ... http://myprops.org/content/David-Rosenberg-Bullish-on-Commodities-Bearish-on-Stocks/ Wed, 08 Jul 2009 16:35:59 GMT Since the wheels started coming off the wagon of the U.S. financial markets in June 2007, when Bear Stearns allowed two hedge funds it managed go broke after losses on mortgage-backed securities, Federal Reserve economists have taken a curious stance. It reminds one of a cartoon scene: An angry homeowner, baseball in hand, charges out of a house with a shattered picture window. In an adjacent vacant lot, several boys with baseball gloves and bats try hard to look nonchalant while their leader ... http://myprops.org/content/The-Fed-must-admit-its-role-in-causing-the-current-crisis/ Wed, 08 Jul 2009 16:22:47 GMT The editors of The Daily Bell are pleased to present this exclusive interview conducted by Scott Smith with hard money commentator James Turk. Introduction: James has specialized in international banking, finance and investments since graduating in 1969 from George Washington University with a B.A. degree in International Economics. In 1980 he joined the private investment and trading company of a prominent precious metals trader. He moved to the United Arab Emirates in December 1983 to be ... http://myprops.org/content/James-Turk-On-How-The-Elites-Always-Destroy-The-Paper-Money-They-Value-And-Why-Gold-Wins/ Wed, 08 Jul 2009 16:17:52 GMT The G8 Summit in Aquila, Italy is underway. World leaders are gathered to discuss threats to global security, climate change, world hunger, and the global economic crisis. But investors will be paying especially close attention to what's said about the U.S. dollar as the de facto international currency reserve. Charles Ortel managing director with Newport Value Partners, an independent research firm, is convinced lawmakers have already doomed the greenback. "In the actions of our ... http://myprops.org/content/The-Dollars-Demise-Is-China-Signaling-the-Beginning-of-the-End-Tech-Ticker-Yahoo-Finance/ Wed, 08 Jul 2009 16:15:07 GMT After Joe Biden's "misread" comment last weekend, the Obama Administration sought to quickly dampen discussions of a second stimulus (or third, if you count Bush's 2007 tax rebates.) It's "premature at this point" to talk about a second stimulus package, a White House spokesman told The Wall Street Journal. But less than 24 hours later, Obama economic adviser Laura Tyson recommended more stimulus at a speech in Singapore, and downplayed concerns about the deficit, ... http://myprops.org/content/Americas-War-on-Capitalism-Why-More-Govt.-Stimulus-Is-a-Bad-Idea/ Wed, 08 Jul 2009 16:14:34 GMT Obama and Biden should have been reading the Housing Bubble and Bear Links Channel ... Big admission from Vice President Joe Biden today. "The truth is, we and everyone else misread the economy," Biden told me during our exclusive "This Week" interview in Iraq. Biden acknowledged administration officials were too optimistic earlier this year when they predicted the unemployment rate would peak at 8 percent as part of their effort to sell the stimulus package. The ... http://myprops.org/content/Joe-Biden-Obama-and-I-Misread-the-Economy/ Mon, 06 Jul 2009 03:36:30 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-July-01-2009-recording/ Thu, 02 Jul 2009 11:36:19 GMT What have we learned in 2,000 years? "The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." Cicero - 55 BC Absolutely nothing it would seem!!! Ben Bernanke and ... http://myprops.org/content/No-Green-Shoots-with-US-Debt-at-700-percent-of-GDP/ Mon, 29 Jun 2009 12:29:20 GMT By Ambrose Evans-Pritchard Fitch Ratings has been warning for some time that China's lenders are wading into dangerous water China's banks are veering out of control. The half-reformed economy of the People's Republic cannot absorb the $1,000bn (£600bn) blitz of new lending issued since December. Money is leaking instead into Shanghai's stock casino, or being used to keep bankrupt builders on life support. It is doing very little to help lift the world economy out of slump. ... http://myprops.org/content/Are-Chinese-banks-a-disaster-waiting-to-happen/ Mon, 29 Jun 2009 12:26:35 GMT Billionaire investor/guru/jovial-grandfatherly-figure Warren Buffett has said the American economy is a "shambles." Buffett told CNBC that the worst of the financial crisis peaked late last year (we're not so sure). But the economic crisis? That's still in full flight. "I get figures on 70-odd businesses, a lot of them daily," said Buffett. "Everything that I see about the economy is that we've had no bounce. The financial system was really where the crisis was last ... http://myprops.org/content/Warren-Buffett-Says-American-Economy-is-a-Shambles-411738/ Sun, 28 Jun 2009 10:31:44 GMT By C. Edmund Wright Shhh. Don't let this get around, but Warren Buffet just let the cat out of the bag -- no economic recovery in sight. Well no kidding. I have long tired of the economists and investment gurus debating "when our economy recovers" and how to position your investments for "when America bounces back" and so on, as if it's a foregone conclusion. Haven't they heard? The America that always recovers is not in anymore. Any assumption of a recovery fails ... http://myprops.org/content/Recovery-When-How-About-If/ Thu, 25 Jun 2009 23:13:43 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-June-24-2009-recording/ Thu, 25 Jun 2009 11:43:19 GMT Charles Nenner of the Charles Nenner Research Center uses some unorthodox methods to predict the markets. In a nutshell, he ignores what most people think of as fundamental news and uses a variety of cycle indicators to forecast market movements, often to a specific date. Nenner's view is that market cycles repeat, and the key is finding points in time when long- and short-term cycles sync up to give a major buy or sell signal. Sounds crazy, right? Well, there must be some method to the ... http://myprops.org/content/He-Called-the-2007-Top-and-Recent-Rally-Now-Charles-Nenner-Sees-Trouble-Ahead-for-Stocks-Tech-Ticker-Yahoo-Finance/ Tue, 23 Jun 2009 15:38:12 GMT Believe it or not, Nouriel Roubini -- professor at NYU's Stern School and Chairman of RGE Monitor -- has some good news: Aggressive government intervention prevented a great depression. The bad news: Roubini says the stock market rally is long in the tooth. (They don't call him Dr. Doom for nothing.) He points to three factors that will lead to a correction in the near future: 1. Volatility and Uncertainty Will Increase. Note: the CBOE Volatility Index is currently down more than 50% ... http://myprops.org/content/Nouriel-Roubinis-Three-Reasons-Why-Stocks-Are-Bound-to-Fall/ Fri, 19 Jun 2009 16:37:15 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-June-17-2009-recording/ Thu, 18 Jun 2009 19:52:46 GMT Big Inflation Coming 2 Adam Hamilton June 5, 2009 At the height of the stock panic in late November, the flagship S&P 500 stock index had plunged 49% year-to-date. Fully 2/3rds of this decline happened in the 9 weeks leading into the panic lows! Naturally the psychological impact of such an epic selloff was utterly massive. Fear exploded to unprecedented extremes. A stock panic is a bubble in fear, and succumbing to this overwhelming fear leads to irrational selling near lows. ... http://myprops.org/content/Big-Inflation-Coming/ Wed, 17 Jun 2009 11:36:27 GMT By ALAN ABELSON Barrons Housing faces another big wave of foreclosures. Jobs report: no cause for celebration. LAST WEEK, MR. OBAMA VOYAGED TO EGYPT and delivered a truly remarkable speech. It wasn't so much the nicely crafted rhetoric or deftly glossed content that stirred our admiration. Rather, it was that he could speak for nearly an hour and verbally cover the globe, with its profusion of combustible hot spots threatening conflagrations that might consume continents, without once ... http://myprops.org/content/No-Bottom-in-Housing/ Wed, 17 Jun 2009 11:33:29 GMT BELLINGHAM - Nobel Prize-winning economist Vernon Smith draws some disturbing parallels between the events that led up to the Great Depression of the 1930s and the severe economic slump of today. Smith, professor of economics and law at Chapman University, won his Nobel in 2002. He spoke Friday, June 5, before a standing-room-only crowd in Fraser Hall at Western Washington University. Most people think of the Great Depression as originating in the stock market crash of 1929. But Smith's ... http://myprops.org/content/A-Housing-bubble-caused-The-Great-Depression-too/ Wed, 17 Jun 2009 11:30:41 GMT By James West MidasLetter.com Tuesday, June 9, 2009 In February, I went on Canada's Business News Network (BNN) and proclaimed on national television that gold would be $1,500 by summer. Yesterday, host Andy Bell asked me if I thought gold still had a chance of hitting $1500, to which I replied that I thought it was not a matter of if, but when. BNN being BNN, you don't exactly get the opportunity to elaborate on your statements, and in the flash of time that is available, you can only ... http://myprops.org/content/Inflation-powered-Gold-Price-Rise-Imminent/ Wed, 17 Jun 2009 11:29:27 GMT By Colin Barr May 27, 2009: 4:05 PM ET NEW YORK (Fortune) -- House prices are taking a long ride in the wayback machine. Unfortunately, Americans' housing-related debt isn't going anywhere fast. Prices in big U.S. cities posted their biggest-ever decline in the first quarter, according to the most recent S&P/Case-Shiller National Home Price index. After nearly three years of declines, house prices nationwide are back at 2002 levels -- and still falling. Yet as bad as that is for ... http://myprops.org/content/The-4-trillion-housing-headache-House-prices-have-returned-to-2002-levels-but-mortgage-debt-hasnt-deflated-from-its-bubbly-highs-162332/ Wed, 17 Jun 2009 11:25:18 GMT New Haven is a place of contrasts. On the seashore just a few miles outside the centre of this New England town, you'll find multi-million dollar properties with stunning views of Long Island Sound. But in the rundown urban areas it is a landscape of boarded up houses. The range of properties in the area - from the desirable to the unwanted - makes it a good place to take the pulse of the US housing market. Some commentators have detected signs of life returning. But that seems ... http://myprops.org/content/New-wave-of-foreclosures-hits-US/ Tue, 16 Jun 2009 22:32:37 GMT The chart above shows the top earning San Francisco city employees for 2008 according to data from the San Francisco Chronicle. This post is an update for my "S.F. is going broke, whether you like it or not!" post, which generated a lot of interest on the internet. The original post showed 2007 salaries. See reddit business, Michelle Malkin's blog, and The Business Insider for some spirited discussions on my original post. ... http://myprops.org/content/S.F.-is-going-broke-whether-you-like-it-or-not-2008-Salary-Update/ Tue, 16 Jun 2009 06:58:47 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-June-10-2009-recording/ Thu, 11 Jun 2009 12:38:35 GMT Oil price leaps to year's high Predictions of $250 a barrel on fears for oil reserves, hopes of economic recovery and hedging against weak dollar The price of oil burst through the $71 a barrel mark today amid revelations that proven reserves had fallen for the first time in 10 years and predictions that the price could eventually hit $250. The latest high - from lows of $30 only four months ago - came on the New York Mercantile Exchange, where the cost of July deliveries rose by $1.35 ... http://myprops.org/content/Prediction-250-Oil/ Thu, 11 Jun 2009 04:32:30 GMT CNBC: June 10, 2009 The Federal Reserve's balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant's Interest Rate Observer, told CNBC. With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview. "If the Fed examiners were set upon the Fed's own documents-unlabeled documents-to pass ... http://myprops.org/content/Fed-Would-Be-Shut-Down-If-It-Were-Audited-Expert-Says/ Wed, 10 Jun 2009 23:10:25 GMT Senior Chinese leaders have privately voiced fear over the soaring US budget deficit and are increasingly looking to diversify from the dollar, a Republican congressman said. "We heard across the board -- in private -- substantial, continuing and rising concern," Representative Mark Kirk said after a trip to China that included talks with government officials and central bank chief Zhou Xiaochuan. "It's clear that China would like to diversify from its dollar ... http://myprops.org/content/CHINA-AIRS-FEARS-ON-DOLLAR-DEBT/ Tue, 09 Jun 2009 08:53:48 GMT WASHINGTON (Reuters) - The U.S. dollar is "seriously overvalued," mostly against the Chinese renminbi and some other Asian currencies, according to a new study published on Wednesday. The Peterson Institute for International Economics, a Washington-based think tank, said the majority of the 29 currencies it studied need to appreciate against the dollar, with a large rise especially needed by the Chinese currency. "The principal counterpart to the overvalued dollar is the ... http://myprops.org/content/U.S.-dollar-seriously-overvalued-study/ Mon, 08 Jun 2009 10:03:47 GMT The real economy is likely to force the financial markets back on its knees, believes David Roche, global strategist at Independent Strategy... Sun. Jun. 7 2009 | 7:23 PM [03:30] http://myprops.org/content/David-Roche-Recovery-in-Financial-Markets-is-Just-a-Mirage/ Mon, 08 Jun 2009 10:00:57 GMT June 3, 2009 Policymakers Have Created a Perfect Storm As the Dollar Falls Off the Cliff ... By PAUL CRAIG ROBERTS Economic news remains focused on banks and housing, while the threat mounts to the US dollar from massive federal budget deficits in fiscal years 2009 and 2010. Earlier this year the dollar's exchange value rose against currencies, such as the euro. UK pound, and Swiss franc, against which the dollar had been steadily falling. The dollar's rise made US policymakers ... http://myprops.org/content/Paul-Craig-Roberts-As-the-Dollar-Falls-Off-the-Cliff-Policymakers-Have-Created-a-Perfect-Storm/ Mon, 08 Jun 2009 09:38:53 GMT Discussing the future of electronic trading, with Howard Lutnick, Cantor Fitzgerald chairman & CEO/BGC Partners CEO and CNBC's Bob Pisani. At 11:10 Howard Lutnick predicts that a collapse in commercial real estate will devastate banks. Thurs. Jun. 4 2009 | 1:15 PM [14:11] http://myprops.org/content/Jim-Rogers-and-Larry-Kudlow-Have-On-Air-Debate-Regarding-U.S.-Treasuries-Inflation-Etc/ Mon, 08 Jun 2009 09:12:36 GMT by Ambrose Evans-Pritchard Those of us who still question whether the world has purged its toxins are reduced to the same tiny band of moaning Druids from early 2007, when we shook our heads in disbelief as the carry trade swept Iceland to fresh madness and bankers laughed off sub-prime rot at Bear Stearns. We learned then to thicken our skins with walnut juice, lie down in dark rooms, and dissent from Goldman Sachs. Such seclusion is called for once again as Goldman replays its BRIC ... http://myprops.org/content/It-is-lonely-in-the-diminishing-camp-of-bears/ Mon, 08 Jun 2009 08:25:30 GMT by Graham Summers How's this for a bubble? In 1965 one in ten Americans owned stocks. In 1990, one in five Americans owned stocks. Put another way, it took 25 years for stock ownership to double in the US. And most of that growth came between 1983 and 1990 with the introduction of 401(k)s, IRAs and other stock-based retirement plans: suddenly anyone with a large scale employer could invest in stocks without having to open a brokerage account. Thanks to the Internet and low fee online ... http://myprops.org/content/Stocks-Will-Fall-37-percent-or-Gold-Will-Rally-60-percent/ Mon, 08 Jun 2009 08:12:15 GMT US Unemployment Rate Gallops Ahead of Expectations By Michael Bowman Washington 07 June 2009 The White House says America's employment picture is worse than the Obama administration had anticipated just a few months ago. The somber admission follows the latest jobless report showing the highest unemployment rate the United States has seen in more than 25 years. U.S. unemployment jumped a half percent in May, to 9.4 percent prompting this comment by Austan Goolsbee, a member of President ... http://myprops.org/content/The-White-House-says-Americas-employment-picture-is-worse-than-the-Obama-administration-had-anticipated-just-a-few-months-ago/ Mon, 08 Jun 2009 04:37:24 GMT Google Tech Talk May 6, 2009 ABSTRACT Presented by Mike "Mish" Shedlock. Mike "Mish" Shedlock is author of one of the most read economics blogs on the Internet: Mish's Global Economic Trend Analysis. Mish gave an @Google talk, sharing his perspective on the state of the global economy (housing, the stock market, commodities, etc.) He also provides his interesting story about how he started blogging, and the impact that it has had on his life personally and ... http://myprops.org/content/Google-Tech-Talk-Mish-Shedlock-shares-his-perspective-on-the-state-of-the-global-economy/ Mon, 08 Jun 2009 02:11:59 GMT And when I say angry - I mean angry (as in smashing shit up). At 2:45 he breaks his sledge hammer. You've gotta be pretty angry to break something that was itself designed for breaking things. At 8:00 and especially 8:55 he completely flips out... I haven't laughed that hard in a while. He does bring up a lot of valid criticism of the "green shoot" propaganda coming from the government. Message to dude: wear some goggles, those flying fragments could really injure your eyes ... http://myprops.org/content/LOL-Angry-dude-video-blogs-about-the-economy-NSFW-language/ Mon, 08 Jun 2009 01:46:30 GMT Interesting trivia on Hedge fund manager John Paulson. According to Casey Research, ``Not familiar with Paulson & Company, or founder John Paulson? You should be, and here's why: . Paulson's bet on the subprime mortgage debacle earned $3.7 billion in 2007. . The company made an estimated £606 million profit selling short British bank stocks in September 2008. . John Paulson ranked #2 on Alpha's Highest-Earning Hedge Fund Managers of 2008. . Two of Paulson & Co.'s ... http://myprops.org/content/Hedge-Fund-Wizard-John-Paulson-Loads-Up-On-Gold/ Sat, 06 Jun 2009 15:27:19 GMT By Yalman Onaran June 5 (Bloomberg) -- Big banks in the U.S. say they're on the mend. The five largest were profitable in the first quarter, rebounding from record losses for the industry in the fourth quarter. Share prices have jumped, with the KBW Bank Index doubling since March 6. Treasury Secretary Timothy Geithner, after "stress testing" 19 banks on their ability to withstand a worsening economy, declared in early May that Americans can be confident in the banks' stability and ... http://myprops.org/content/Bank-Profits-From-Accounting-Rules-Masking-Looming-Loan-Losses/ Sat, 06 Jun 2009 15:16:46 GMT Jun 3rd, 2009 By Doug Hornig Tuesday, October 9, 2007 started as a nice day in New York City. A lovely early fall day, with the temperature still a balmy 80° at 2:00 in the morning. By evening, though, the temperature had dropped twenty degrees, the clouds had rolled in, there was thunder and rain. As with the weather, there were some hints of trouble here and there on Wall Street. But all in all, things could not have seemed better. Little did we know, the stormy end of 10/9/07 ... http://myprops.org/content/The-Unstoppable-Second-Mortgage-Crisis-821753/ Sat, 06 Jun 2009 12:03:16 GMT Jim Cramer: The Myth that Keeps on Mything On June 1, 2009, CNBC'S Jim Cramer says he called a bottom at 6,500 (see 0:34 in the video): "I did not think a bottom that would be attractive to the risk adverse crowd, as opposed to the people who were willing to wade in with my call at Dow 6,500 that the worst was over, the downside was minimal, and the time was right to buy. I didn't think the risk adverse crowd would come in until GM was dealt with. Here's the bottom line. As I said to the ... http://myprops.org/content/Jim-Cramer-So-full-of-shit-its-not-funny/ Fri, 05 Jun 2009 10:05:40 GMT Warning for perma bulls: listening to this could seriously alter your world view. More by Peter Schiff http://myprops.org/content/Wall-Street-Unspun-with-Peter-Schiff-internet-radio-show-June-03-2009-recording/ Thu, 04 Jun 2009 12:40:00 GMT The next crisis has already begun We've survived a financial meltdown, and we're working through a recession. But another phase -- when all the money printing melts down the dollar -- is just getting started. By Bill Fleckenstein MSN Money This week I'd like to update readers on the funding crisis. That's the third in the three-baseball-game analogy that I dreamed up last fall (read "Economy sinks as we save bankers") as a way to think through the enormous problems we ... http://myprops.org/content/Bill-Fleckenstein-The-next-crisis-has-already-begun/ Wed, 03 Jun 2009 00:11:28 GMT PREPARE FOR HYPERINFLATION OR GO BROKE Hyperinflation will be the biggest crisis to ever hit America and it will come as a direct result of President Obama, Congress and the Federal Reserve trying to prevent a much needed recession. The millions of baby-boomers getting ready to retire and planning to live off of their savings and pensions will soon need to rethink their plans. We are about to see a collapse in the value of the U.S. dollar that will wipe out the wealth of all Americans who ... http://myprops.org/content/Prepare-for-Hyperinflation-or-Go-Broke/ Wed, 03 Jun 2009 00:03:32 GMT