Leap in U.S. debt hits taxpayers with 12% more red ink
GG flagged this: Silver poised for biggest monthly gain in 22 years; gold rises
Items from The Economatrix:
Economy
Shrinks 5.7% in First Quarter
Taxpayers Could Lose Billions in GM Revamp "GM expected to file bankruptcy
on Monday."
Ford's Top Supplier Files for Bankruptcy "Visteon bankruptcy protection
filing is another blow to auto supply base."
Bond
Markets Defy Feds as Treasury Yields Spike "The US Federal Reserve
may soon be forced to launch fresh blitz of quantitative easing whatever the
consequences for the US dollar, or risk seeing economic recovery snuffed out
by the latest surge in long-term borrowing costs."
Oil
is Plentiful, Demand is Weak. Why are Gas Prices Going Up?
Countrywide
Can't Dismiss Mortgage Lawsuit "Federal judge rejects bid in case
that alleges racketeering, conspiracy, unfair mortgage practices."
Fed Dilemma as Property Recovery Falters
Ireland Set to Go Bust, Claims Economic Historian
"Peak
Silver"
FDIC
Fund Running Dry
Advanta Bank to Close All Credit Accounts This Week
How
Manipulated Markets Really Work "Daily the corporate media trumpet
them to lull the unwary into believing the global economic crisis is ebbing
and recovery is on the way. Not according
to longtime market analyst Bob Chapman who calls green shoots "Poison
Ivy" and economist Nouriel Roubini saying they're "yellow weeds" at
a time there's lots more pain ahead."
The
Second Crash: On the Way and Unstoppable. (JWR Adds: I
should mention that this
essay includes the same alarming chart on mortgage rate resets that I
pointed to in SurvivalBlog a few weeks
ago.
Once
again, we are nowhere near the bottom of the real estate
market in the US! This summer will later be seen as just a lull in the storm. Do
not hang on to any extra properties "waiting for the market to recover."
Dump them at break-even, if need be, but get rid of them, pronto!)
Bond
Vigilantes Confront Obama as Housing Falters "Washington is really
out of control and that there is no fiscal discipline whatsoever.”
