But according to America’s self-described “#1 political prisoner” Martin Armstrong, the Western world’s fiscal malfeasance has left it trapped between two equally undesirable but unavoidable outcomes: default of civil unrest. We are at the pointy end of the crisis (Phase two as he describes it). Yet very few people seem to appreciate what’s actually happening.
March 22nd, 2010 | Dan Denning | 6 comments | ContinuedThe Americas
Commentary on American economics, politics and society by your Daily Reckoning editors in Melbourne, Australia. Still haven’t subscribed to the Daily Reckoning? What are you waiting for… sign up here, it’s free!
A chronological listing of articles is below.
Is Your Money What You Think It Is?
The paper we use today is a medium of exchange – it got that way because governments made it illegal not to accept it – but it’s not a good store of value.
March 19th, 2010 | Doug Casey | 2 comments | Continued
The Great Correction: Awaiting Bailouts that Will Never Come
But the deep trends continue. The government grows…and heads towards bankruptcy. Most developed nations are running huge deficits in their public accounts.
March 17th, 2010 | Bill Bonner | 27 comments | Continued
America, An Empire You Can Trust?
The trouble with being number one in military power is that you need to find a way to pay for it. Which brings to mind a recent book by Thomas F. Madden, Empires of Trust.
March 17th, 2010 | Bill Bonner | 1 comment | Continued
Federal Reserve to Withdraw its Support of U.S. Mortgage Market?
NAB has given us a preview of what we suspect the Federal Reserve is going to do. It’s our view that the Fed cannot realistically remove support from the mortgage market. Its announced intention to do so is merely cosmetic. It’s placating anxious holders of dollar-denominated assets.
March 17th, 2010 | Dan Denning | 8 comments | Continued
Who Can Blame Consumers for Being More Ready to Spend Money?
The most recent figures show the consumer becoming a little freer with his money. But look beneath the surface and you find government statisticians juking and jiving with the numbers.
March 16th, 2010 | Bill Bonner | 1 comment | Continued
As Supply of US Debt Goes Up, Quality of Dollars Declines
But what about the US federal government? No austerity at all. Just the opposite. The feds announced the biggest budget deficit ever – $221 billion for the month of February.
March 15th, 2010 | Bill Bonner | 0 comments | Continued
China Continuing to Buy US Bonds “Every Day”
China has quietly bought stakes in America’s leading companies…and in various businesses all over the world. But the only way large amounts of US dollar cash can be readily and safely deployed is in US bonds.
March 12th, 2010 | Bill Bonner | 1 comment | Continued
Right and Left Side of Politics are Corrupted
Like the two sides of the brain, people use politics both ways. On the right side, they use it to do something that is completely preposterous…
March 11th, 2010 | Bill Bonner | 1 comment | Continued
US Economy is Some 11 Million Jobs Short of Full Employment
But February saw an unexpected upturn in consumer credit, reports the Times. And unemployment seems to have bottomed out, adds The Wall Street Journal.
March 10th, 2010 | Bill Bonner | 0 comments | Continued