"Greece has been in economic turmoil for most of the last decade. Is it finally out of the woods? Ordinary Greeks say not yet."
Total consumer debt broke another record in January, according to the latest report by the Federal Reserve.Borrowing increased by $17.05 billion in the first month of 2019. The increase pushed overall consumer borrowing to a new $4.03 trillion record. That compares with $3.84 trillion in January 2018. That represents a 5.1% annual increase.
The 10-year yield bounced off of a prior dip to 2.612% to reach 2.621%. The DX had a modest rebound to 96.80, and gold was tugged back to $1,306.50.
Harvey says the silver market is in severe backwardation in London, and he says we are witnessing delays in actual silver deliveries. Here's an update...
"There is a grand, majestic tragedy in the inevitable collapse of once-thriving states and empires. The promises cannot be met, and so society decays into warring elites and competing constituencies."
"On January 30, Rep. John Larson and 200 Democratic co-sponsors introduced the Social Security 2100 Act. Another step to Social Security’s long-running Ponzi scheme."
"Stockman, who served as President Ronald Reagan’s director of Office of Management and Budget, suggests fundamentals are not driving the 2019 rally."
"You don’t pay sales tax if you 'buy' two $10 bills with a $20 bill. U.S.-minted gold and silver coins shouldn’t be taxed, either."
Stewart says $1280 could be the launch pad for the next significant rally. Here are the details...
SD Midweek Update: Want to know why gold & silver prices refuse to head much lower than $1300 or $15? Here's why, and what it means going forward...
Roger Ng and Tim Leissner conspired to bilk the Malaysian people out of billions of dollars in the 1MDB scandal.
The Fed's recent about-face on QT and rate raises is tantamount to insisting that everyone can take on unlimited printed-money debt at super-low interest rates forever...and that's the endgame solution.
The February jobs report came in significantly below expectations. First quarter GDP estimates are way down. And we're seeing other numbers that indicate a rotting economic foundation.But nobody is worried.In fact, most of the attention continues to be focused on the trade deal as if it is going to push the economy to new heights. In his most recent podcast, Peter dug into some of the numbers and came to the conclusion that most of the analysts and pundits are utterly clueless about what's really going on.
"Global debt has surged by around 50% since the 2008 Global Financial Crisis, led by major-economy governments and Chinese non-financial corporates, while global debt-to-GDP ratios have risen to more than 231%."
It's a long, grim, unavoidable fiat reality: Relentlessly and steadily over time, the US dollar is heading toward worthless.
Previously primarily considered the desperate domain of developing nations, Italy is considering a vulture capital investment from China as it explores any conceivable fix to its financial fiasco.
"British lawmakers on Tuesday handed Prime Minister Theresa May a second humiliating defeat on the Brexit plan she had agreed with the EU, plunging the country deeper into political crisis."
"Big state-owned commercial banks should increase outstanding loans to smaller companies by more than 30% in 2019, the CBIRC said, adding that it would also increase its tolerance for non-performing loans at small companies."
Even as it closes its own furthest-flung outposts, JPM sets an ambitious course toward challenging its primary rivals in the heartland and mid-Atlantic.
The chief US trade negotiator said "Major, major issues' needed to be resolved before an agreement was reached, and he could not 'predict success at this point."