This week the Secretary of State and the Secretary of Treasury were both in China for talks about the economy. China is the number one holder of US debt according to government figures. $2 trillion of their reserves is made of foreign currency, currently almost half of this reserve is in US debt.
In order to fund [...]
If you haven’t heard the term BRIC, you will. That’s who will be running the world as America fades. BRIC stands for Brazil, Russia, India and China.
Military
Not many BRIC nations are challenging the US military. Russia and China are conducting joint military exercises. China is buying time, increasing their leverage and growing strong.
Economic
China is flush [...]
Tomorrow I’m traveling to Denver to see Chris Martenson lecture. Way before the initial crash of the market in October of 2008 I was geeking out on things like the economy, how money is made, peak oil and the housing bubble. There was enough information out there and I was able to piece together enough [...]
The state budget issue isn’t an isolated matter of government procedure. The effects are wide ranging across America. Whatever happens, it is becoming clear that California is going to lead the way. California doesn’t know where 58% of their budget will come from.
How states deal with budget shortfalls has yet to be seen. Citizens already [...]
The threat
Some think that a North Korean missile could reach Hawaii. They could also launch a missile from the sea. In late June of 2009 US Navy ships followed the Kang Nam in the wake of North Korean posturing. It is thought the vessel could contain missiles.
The more likely threat would be similar to the [...]
http://bilanciatovita.blogspot.com/2009/06/bronner-speaks-in-tuscaloosa.html (HT: Nathan’s Economic Edge)
Interesting opinion, here’s the high points paraphrased.
Within the month California will begin a domino effect of state government failures. This will effect the overall economy as well.
In 3 months or later the commercial real-estate market collapses. This will also have a bad effect on the overall economy.
The possibility [...]
Continue reading about CEO of the Alabama Retirement Systems on Economy
HT Global Guerilla:
The Centre for Labour Market Studies (CLMS) in Boston says US unemployment is now 18.2 %, counting the old-fashioned way. The reason why this does not “feel” like the 1930s is that we tend to compress the chronology of the Depression. It takes time for people to deplete their savings and sink into [...]