I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???

Monday 20 April 2009

Martin Armstrong: The Coming Great Depression

Coming Great Depression 120408 Coming Great Depression 120408 Kris One of Martin Armstrong's new papers


http://en.wikipedia.org/wiki/Martin_A._Armstrong

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Friday 17 April 2009

If a metal-based currency ever emerges to end the reign of fiat paper, it is just as likely to be a "Copper Standard" as a "Gold Standard"


China's State Reserves Bureau (SRB) has instead been buying copper and other industrial metals over recent months on a scale that appears to go beyond the usual rebuilding of stocks for commercial reasons.

Nobu Su, head of Taiwan's TMT group, which ships commodities to China, said Beijing is trying to extricate itself from dollar dependency as fast as it can.

"China has woken up. The West is a black hole with all this money being printed. The Chinese are buying raw materials because it is a much better way to use their $1.9 trillion of reserves. They get ten times the impact, and can cover their infrastructure for 50 years."

more ...

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Wednesday 15 April 2009

Gold is Free Market Money

Recorded at the Mises Institute Supporters Summit, 1 November 2008; Auburn, Alabama. Walter Block is a professor and chair of economics, college of business administration, at Loyola University. See WalterBlock.com for more information.



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Monday 13 April 2009

Is Antarctica warming or cooling? Either way it proves global warming, according to climate modelers.

In the 1990s, predictions of a greenhouse-warmed Antarctic abounded. As time passed, though, problems surfaced. Research paper after paper indicated that, other than the tiny Antarctica peninsula, the continent was in fact cooling -- and had been doing so for many decades.

Skeptics pointed to this as a flaw in global warming theory. Not so fast, cried the climate modelers. They quickly spun a number of possible explanations, including ozone holes, ocean currents, and terrain that cut off Antarctica from the world's warming. As the certainty in the cooling trend grew, so did their statements, until they eventually began stating that they had predicted a cooling trend all along.

http://www.dailytech.com/Will+the+Real+Antarctica+Please+Stand+Up/article14028.htm


http://www.globalwarminghoax.com/comment.php?comment.news.109


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Harvard: the Inside Story of Its Finance Meltdown

For a long while Harvard's daring investment style was the envy of the endowment world. It made light bets in plain old stocks and bonds and went hell-for-leather into exotic and illiquid holdings: commodities, timberland, hedge funds, emerging market equities and private equity partnerships. The risky strategy paid off with market-beating results as long as the market was going up. But risk brings pain in a market crash. Although the full extent of the damage won't be known until Harvard releases the endowment numbers for June 30, 2009, the university is already working on the assumption that the portfolio will be down 30%, or $11 billion.

http://www.forbes.com/forbes/2009/0316/080_harvard_finance_meltdown.html

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Saturday 11 April 2009

Why You've Never Heard of the Great Depression of 1920



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Thursday 9 April 2009

A history of global warming 1957 to 2009

The global warming frenzy was becoming the cause célèbre of the media. After all, the media is mostly liberal, loves Al Gore, loves to warn us of impending disasters and tell us "the sky is falling, the sky is falling." The politicians and the environmentalist loved it, too.

But the tide was turning with Roger Revelle. He was forced out at Harvard at 65 and returned to California and a semi retirement position at UCSD. There he had time to rethink Carbon Dioxide and the greenhouse effect. The man who had inspired Al Gore and given the UN the basic research it needed to launch its Intergovernmental Panel on Climate Change was having second thoughts. In 1988 he wrote two cautionary letters to members of Congress. He wrote, "My own personal belief is that we should wait another 10 or 20 years to really be convinced that the greenhouse effect is going to be important for human beings, in both positive and negative ways." He added, "…we should be careful not to arouse too much alarm until the rate and amount of warming becomes clearer."

And in 1991 Revelle teamed up with Chauncey Starr, founding director of the Electric Power Research Institute and Fred Singer, the first director of the U.S. Weather Satellite Service, to write an article for Cosmos magazine. They urged more research and begged scientists and governments not to move too fast to curb greenhouse CO2 emissions because the true impact of carbon dioxide was not at all certain, and curbing the use of fossil fuels could have a huge, negative impact on the economy, jobs, and our standard of living. Considerable controversy still surrounds the authorship of this article. However, I have discussed this collaboration with Dr. Singer and he assures me that Revelle was considerably more certain than he was at the time that carbon dioxide was not a problem.

Did Roger Revelle attend the summer enclave at the Bohemian Grove in Northern California in 1990 while working on that article? Did he deliver a lakeside speech there to the assembled movers and shakers from Washington and Wall Street in which he apologized for sending the UN IPCC and Al Gore on this wild goose chase about global warming? Did he say that the key scientific conjecture of his lifetime had turned out wrong? The answer to those questions is, "Apparently.” People who were there have told me about that afternoon, but I have not located a transcript or a recording. People continue to share their memories with me on an informal basis. More evidence may be forthcoming.

Roger Revelle died of a heart attack three months after the Cosmos story was printed. Oh, how I wish he were still alive today. He might be able to stop this scientific silliness and end the global warming scam. He might well stand beside me as a global warming denier.

Al Gore has dismissed Roger Revelle’s mea culpa as the actions of a senile old man. The next year, while running for Vice President, he said the science behind global warming is settled and there will be no more debate. From 1992 until today, he and most of his cohorts have refused to debate global warming and when asked about us skeptics, they insult us and call us names.


http://www.kusi.com/weather/colemanscorner/38574742.html

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Wednesday 8 April 2009

Stop living in the matrix people !



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Tuesday 7 April 2009

Corrupt Socialism, IMF loans and currency manipulation did this to Argentina, so why is the uk going down the same path ?



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Max Keiser on Alex Jones Tv



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Monday 6 April 2009

From Bubble to Depression?


But what sparks bubbles? Why does one large asset bubble -- like our dot-com bubble -- do no damage to the financial system while another one leads to its collapse? Key characteristics of housing markets -- momentum trading, liquidity, price-tier movements, and high-margin purchases -- combine to provide a fairly complete, simple description of the housing bubble collapse, and how it engulfed the financial system and then the wider economy.

http://online.wsj.com/article/SB123897612802791281.html

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In the US the government is incentivising people to not pay their mortgage, so they aren't !

Con artists promising to intervene with lenders on behalf of homeowners who are having trouble making their mortgage payments are proliferating at warp speed, according to the latest statistics on mortgage fraud.

But an increasing number of owners are also trying to pull the wool over their lenders' eyes. In some cases, they are lying in an effort to save their homes from foreclosure. But in other instances, they are trying to convince lenders to grant them new, more favorable loans they don't really deserve.

Frank Sillman, managing partner at Fortace, a Los Angeles-based fraud pursuit and recovery company, has seen a marked increase in loan-modification fraud, which could be described as just the opposite of the loan-approval fraud committed by many people to obtain mortgages for which they didn't really qualify.

“First, they overstated their incomes,” Sillman says. “Now they are understating them.”

In many cases, out-of-work industry insiders who have been sidelined by the housing recession and are no less desperate to generate a little income are coaching borrowers to hoodwink lenders.


http://www3.signonsandiego.com/stories/2009/apr/05/1h05sichel182213-housing-scene-160160160160lew-sic/?uniontrib


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The 18 year property/business cycle



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Sunday 5 April 2009

Is there a property crash every 18 years? Fred Harrison thinks so



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The financial industry brought the economy to its knees, but how did they get away with it?

The financial industry brought the economy to its knees, but how did they get away with it? With the nation wondering how to hold the bankers accountable, Bill Moyers sits down with William K. Black, the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s. Black offers his analysis of what went wrong and his critique of the bailout

http://www.pbs.org/moyers/journal/04032009/watch.html

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Ireland Faces Total economic Collapse



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Saturday 4 April 2009

Peter Schiff's Predictions (2002-2009)



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Peter Schiff Vlog Report 02 Apr 2009: Why are Americans not paying their mortgages ?



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Thursday 2 April 2009

If China stopped buying US bonds it would be world war !



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Gordon Brown = Boom and Bust



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TAX KILLS: RISE UP !!!





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Wednesday 1 April 2009

Nassim "Black Swan" Taleb Disses Geithner Plan: It Will Fail



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When the Solution to the Financial Crisis becomes the Cause

US Treasury Secretary Tim Geithner has unveiled his long-awaited plan to put the US banking system back in order. In doing so, he has refused to tell the ‘dirty little secret’ of the present financial crisis. By refusing to do so, he is trying to save de facto bankrupt US banks that threaten to bring the entire global system down in a new more devastating phase of wealth destruction.

The Geithner Plan, his so-called Public-Private Partnership Investment Program or PPPIP, as we have noted previously is designed not to restore a healthy lending system which would funnel credit to business and consumers. Rather it is yet another intricate scheme to pour even more hundreds of billions directly to the leading banks and Wall Street firms responsible for the current mess in world credit markets without demanding they change their business model. Yet, one might say, won’t this eventually help the problem by getting the banks back to health?

Not the way the Obama Administration is proceeding. In defending his plan on US TV recently, Geithner, a protégé of Henry Kissinger who previously was CEO of the New York Federal Reserve Bank, argued that his intent was ‘not to sustain weak banks at the expense of strong.’ Yet this is precisely what the PPPIP does. The weak banks are the five largest banks in the system.

The ‘dirty little secret’ which Geithner is going to great degrees to obscure from the public is very simple. There are only at most perhaps five US banks which are the source of the toxic poison that is causing such dislocation in the world financial system. What Geithner is desperately trying to protect is that reality. The heart of the present problem and the reason ordinary loan losses as in prior bank crises are not the problem, is a variety of exotic financial derivatives, most especially so-called Credit Default Swaps.

In 2000 the Clinton Administration then-Treasury Secretary was a man named Larry Summers. Summers had just been promoted from No. 2 under Wall Street Goldman Sachs banker Robert Rubin to be No. 1 when Rubin left Washington to take up the post of Vice Chairman of Citigroup. As I describe in detail in my new book, Power of Money: The Rise and Fall of the American Century, to be released this summer, Summers convinced President Bill Clinton to sign several Republican bills into law which opened the floodgates for banks to abuse their powers. The fact that the Wall Street big banks spent some $5 billion in lobbying for these changes after 1998 was likely not lost on Clinton.

One significant law was the repeal of the 1933 Depression-era Glass-Steagall Act that prohibited mergers of commercial banks, insurance companies and brokerage firms like Merrill Lynch or Goldman Sachs. A second law backed by Treasury Secretary Summers in 2000 was an obscure but deadly important Commodity Futures Modernization Act of 2000. That law prevented the responsible US Government regulatory agency, Commodity Futures Trading Corporation (CFTC), from having any oversight over the trading of financial derivatives. The new CFMA law stipulated that so-called Over-the-Counter (OTC) derivatives like Credit Default Swaps, such as those involved in the AIG insurance disaster, (which investor Warren Buffett once called ‘weapons of mass financial destruction’), be free from Government regulation.

At the time Summers was busy opening the floodgates of financial abuse for the Wall Street Money Trust, his assistant was none other than Tim Geithner, the man who today is US Treasury Secretary. Today, Geithner’s old boss, Larry Summers, is President Obama’s chief economic adviser, as head of the White House Economic Council. To have Geithner and Summers responsible for cleaning up the financial mess is tantamount to putting the proverbial fox in to guard the henhouse.

more ...


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