If you bought gold when we first recommended it, ten years ago, you are in a very comfortable position. Gold sells for more than 4 times as much today. But what should you do now?
November 18th, 2009 | Bill Bonner | 4 comments | ContinuedAll Posts Tagged With: "credit card debt"
US Economy Still on Runway as Recovery Won’t Fly
A majority of those polled by Bloomberg think things are great; 61% said they thought they economy had taken off and was flying high. Stocks are up. Commodities are up…
September 10th, 2009 | Bill Bonner | 3 comments | Continued
In Come the Feds After the Bubble Burst
What a wonderful time to be alive! Never has it been easier to feel superior to our fellow man! So many dopey ideas…so many preposterous delusions! So many fools…so eager to part ways with their money!
April 14th, 2009 | Bill Bonner | 0 comments | Continued
Debt Backed Securities Face Deepening Trouble
Securities backed by credit cards, auto loans, and even what mortgage brokers thought were good credit risks in the housing market are all facing trouble ahead. De-leveraging-the selling of assets bought with credit-is taking place at the corporate and household level, even if it’s not always willingly. Necessity is the mother of liquidation. The New York Times reports that, “Bond investors first stopped buying private home mortgage deals, then shunned commercial mortgages.
August 14th, 2008 | Dan Denning | 10 comments | Continued
U.S. Fed Now Accepts Credit Card Debt as Collateral
The Fed has become the mother of all credit exiles, accepting Wall Street’s over-valued, under-performing, dead-beat loans. At least that is what it’s done in a metaphorical sense. On Friday the Fed expanded the list of collateral it will accept for asset-swapping through its Term Securities Lending (Facility). That list of asset-backed securities now includes collateralized car loans, credit card receivables, and student loans.
May 5th, 2008 | Dan Denning | 7 comments | Continued