GainsPainsCapital.com has posted an article discussing the sobering realities of long-term, high food prices here in the U.S. The article includes a warning of a food crisis coming soon. The full text of that article can be found here.
Reuters is reporting that the U.S. Treasury has informed lawmakers an approximately $2 trillion rise in the federal debt limit will be needed to ensure the government can keep borrowing through the 2012 presidential election. The Obama administration has repeatedly asserted that…
The U.S. received a sovereign credit rating of C from Weiss Ratings, based in Jupiter, FL, on Thursday. The rating is in line with others for much smaller economies such as Mexico, Estonia and Colombia. A C from Weiss is roughly equivalent…
By: MOTH I frequently hear ‘important’ people like Michael Moore say that the country is not broke. Then I have one question for Mr. Moore and those who believe in this heresy: if we are not broke, then why the need to…
U.S. Federal Regulators closed six failing U.S. banks on Friday, bringing the year’s total so far to 34. The banks closed today were: Bartow County Bank of Cartersville, GA New Horizons Bank of East Ellijay, GA Nexity Bank of Birmingham, AL Superior…
Reuters is reporting that The International Monetary Fund on Tuesday urged the United States to outline credible measures to reduce its Federal budget deficit, pressuring the White House to detail plans to gain control of the current record debt. The IMF noted…
According to the New York Fed on Tuesday, the Federal Reserve will purchase approximately $97 billion of Treasuries and Treasury Inflation-Protected Securities from April 13th through May 11th. The purchases are all part of the second round of quantitative easing (QE2) program…
MarketWatch.com is reporting that Japanese investors sold $13.8 billion worth of foreign bonds in the week of May 27 through April 2. This is the largest weekly net sales since mid November of the previous year. Japan is the number two holder…
Two additional banks were closed by U.S. federal regulators today, bringing the total number of U.S. bank failures in 2011 to 28. National Bank and Trust of Western Springs, IL, which had $181.9 million in deposits, was closed, the Federal Deposit Insurance…
Bill Gross, co-founder of Pacific Investment Management (Pimco), and manager of the largest bond fund in existence, recently stated: “Unless entitlements are substantially reformed, I am confident that this country will default on its debts, not in conventional ways, but by picking…
