.png)
"Their Wealth Has Vanished": Baby Boomers File For Bankruptcy In Droves
An alarming number of older Americans are being forced into bankruptcy, as the rate of people 65 and older who have filed has never been higher - at three times what it was in 1991, while the rate of bankruptcies among Americans age 65 and older has more than doubled, according to a new study by the The Bankruptcy Project. Older Americans are increasingly likely to file consumer bankruptcy, and their representation among those in bankruptcy has never been higher. Using data f
Pastors Are Seen as a Primary Voice on Poverty
New Barna research shows that pastors’ thoughts concerning the world’s poor are highly valued: a strong majority of the Amercian public (88%), including 92 percent of practicing Christians, trusts the opinion of a pastor when it comes to the issue of global poverty, alongside the opinions of individuals who have worked or lived in poverty and even ranking above the opinions of reporters, academics and politicians. In some ways, the trust that the American public places in pas
Russia Is Preparing For A "Perfect Storm" In The Global Economy
In recent months, Russia - some claim - has “strenuously prepared for Putin’s meeting with Trump”. What does this mean? Firstly, in April the Central Bank of the Russian Federation dumped nearly a half of US Treasuries that it had on its balance sheet, reducing their stock from $96.2 billion to $48.7 billion. In May the Central Bank continued to do this, having reduced the quantity of treasuries on its balance sheet even more. Certain news agencies only emphasized that Russia
Deutsche Bank FICC Tumbles 17%, Worst Q2 Since The Financial Crisis
Back on July 16, in an attempt to boost its flailing stock which just weeks earlier hit an all time low, Deutsche Bank reported preliminary results that were better than analysts had expected. It saved the not soo good news for its official earnings release earlier this morning, when the biggest German bank reported that revenue from FICC, or trading of fixed-income, currency and commodities, traditionally a bank's most profitable segment, tumbled 17% from a year earlier to €
Ted Butler: New Hope For Higher Silver Prices - How silver's oppressor may end up being its savi
Precious metals analyst Ted Butler returns to the podcast this week to discuss the long-suffering silver price. Will the beatings continue? Or is there finally reason to believe that, after seven painful years of languishing, silver may finally see a brighter future? Butler predicts a turning point is nigh. And ironically, he thinks silver's savior will be the same culprit responsible for keeping the price suppressed for all these years: Every time we’ve had a rally in the la
America, The Insolvent: A reckoning is due. One the elites are already readying for.
Watching the world these days, I’m experiencing the same fury that rises up from my gut when the driver in the car ahead me is weaving drunkenly, endangering everyone on the road. Fury is a normal and rational human response when threatened with unnecessary harm. Women who are groped (or worse) by a disgusting predator like Harvey Weinstein, pensioners whose funds are stolen by Wall Street shysters, everyone who is being fleeced by corporations in search of a few extra dollar
Trade War Provides Perfect Cover For The Elitist Engineered Global Reset
Over the past several months, I have been examining the underlying or hidden motivations behind the currently expanding global trade war, including the impressive level of cognitive dissonance surrounding the issue. The political left doesn't seem to have an intelligent grasp of economic issues in the slightest. I'm not seeing any critical discussion from leftist media outlets or pundits on fiscal uncertainties, and the only reaction that is common from them is that they hop
The Global Reset Will Come Like A Thief In The Night
As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies, told King World News that the global reset will come like a thief in the night. Where have all the dollars gone? Long time passing
Where have all the dollars gone? Long time ago
Where have all the dollars gone? Uncle Sam has spent them everyone
When will he ever learn? When will he ever learn? The Global Reset Is Coming
Egon von G
Some Of The 'Most Systemically Important Banks' In The World Are Tumbling
Since the Federal Reserve hiked rates, "big" US banks have dramatically underperformed "small" US banks, continuing a trend that has been going on since February... But it's broader than that this "big" bank blow-up is global. The stock prices of 16 of the most 'Systemically Important Financial Institutions' (SIFIs) in the world are now in bear market territory (down by 20% or more from their recent highs in dollar terms); and as the Financial Times reports, this has caused I
PAUL TUDOR JONES: The next recession will be ‘frightening’
Published June 19, 2018 "I don’t think monetary policy is sustainable, and clearly fiscal policy - Are you kidding me?!” said legendary investor, Paul Tudor Jones in an interview with Goldman Sachs’ CEO on Monday Jones said assets are overvalued and the next recession will be “really frightening.” “Just imagine the next recession comes. Oh my God! It’s going to be interesting,” Jones said. Monetary and fiscal policy is unsustainable and the next recession will be "really frig
Social Security must reduce benefits in 2034 if reforms aren't made
Updated 2215 GMT (0615 HKT) June 5, 2018 New York (CNN) In 16 years, Social Security will have to cut benefits by 21% if lawmakers do nothing to cure the program's long-term funding shortfall. That's what the Social Security and Medicare trustees projected in their 2018 annual report released Tuesday. The trustees estimate that by 2034 the combined trust funds for Social Security — which help fund the old age and disability programs — will run dry. At that point Social Secu
Don't Be a Sucker
The two charts below reveal what is going on in the boardrooms of corporate America and on Wall Street, where those in the know are doing what they do best – hurting average American families. The Trump tax cuts are taking full effect. Corporations will pay $60 billion less in taxes this year. It appears they are taking all $60 billion in savings, borrowing another $80 billion from Wall Street, and buying back their own stock at near all-time high prices. If you thought the n
On Donald Trump's "Madness" & A New Gold Standard
Way back in 1995, when Mexico was in the throes of another financial crisis, I figured out the problem of the existing world's monetary system, based on the paper dollar as the fundamental currency of the world. In my ignorance, I did not know that a man named Triffin had already pointed out that problem, which became known as "Triffin's Dilemma". The problem is really very simple: If the dollar - such as it is - is going to be the basis of the world's monetary system, and th
World War III Will Be An Economic War
There is a mass delusion in the mainstream created I think in large part by too much exposure to movie fantasy and TV fiction. It is an immediate assumption; one that I believe is far more dangerous than many people give it credit for. The assumption is that the next great war, should it occur, will inevitably be a nuclear one, and the doom surrounding it will end everything as we know it. Many people even get excited at the idea of World War III and the notion that it will
Here's Why All Pension Funds Are Doomed, Doomed, Doomed
There are limits on what the Fed can do when this bubble bursts, as it inevitably will, as surely as night follows day. It's no secret that virtually every pension fund is dead man walking, doomed by central banks' imposition of low yields on safe investments, i.e. Zero Interest Rate Policy (ZIRP). Given that both The Economist and The Wall Street Journal have covered the impossibility of pension funds achieving their expected returns, this reality cannot be a surprise to any
