Search Results for: recession

The Death of Retail

retail store closed

If the economy is improving, then why are many of the largest retail chains in America closing hundreds of stores?  When I was growing up, Sears, J.C. Penney, Best Buy and RadioShack were all considered to be unstoppable retail powerhouses. But now it is being projected that all of them …

Read More »

Only 47% of Americans have a full-time job

Looking for a job

The release of the June Jobs’ Report Friday was something of a relief for the markets. The Labor Department reported that the economy gained 195,000 jobs in June, which beat economists’ expectations. The Department also reported that the economy gained 70,000 more jobs in April and May than it originally estimated. The …

Read More »

Eurozone unemployment hits all-time high: 19 million out of work

Europe unemployment

People queue outside a government employment office in Burgos. Eurozone unemployment levels have hit 12 percent – the highest in the history of eurozone record-keeping, since the currency was launched in 1999. The average unemployment rate across the eurozone’s 17 constituent European Union countries rose from January’s initial 11.9 percent …

Read More »

Economic facts: America headed for total collapse

us economy disaster america wake up

According to the major polls, at least 2/3 of Americans think, “things will get better”. Yes, they are that stupid. Let’s look at some plain facts: 48% of Americans are considered either “low income” or living in poverty by the government. 20% of households are on Food Stamps. 1 in every …

Read More »

Citigroup braces for global recession, calls for QE in China

China QE Chinese yuan

China has bungled its attempt to slow the economy gently and is sliding into “imminent recession”, threatening to take the world with it over coming months, Citigroup has warned. Willem Buiter, the bank’s chief economist, said the country needs a major blast of fiscal spending financed by outright “helicopter” money …

Read More »

Americans warned bank ‘bail-ins’ coming

Experts say institutions will grab deposits without warning With the United States facing a $17 trillion debt and an acidic debate in Washington over raising that debt limit on top of a potential government shutdown, Congress could mimic recent European action to let banks initiate a “bail-in” to blunt future …

Read More »

Brussels ready to back £80bn bailout for Spain

Decision taken following discussion about eurozone’s struggling economy Spanish minister said aid will not come with austerity conditions attached Move comes a day after Spain’s credit rating was downgraded David Cameron has said UK will not contribute funds to eurozone bailouts Euro falls and forecasters say it could hit seven-year …

Read More »

Gold price soaring as economic crisis looms

Gold bars American flag

From Filip Karinja, for Birch Gold Group What a start to 2016 it has been for the financial markets! Increased volatility appears to be the new norm. With reports of people lining up around the block in London to get their hands on physical gold, it’s little wonder that the precious metal is …

Read More »

Crisis spreads to China, Australia, Brazil, Canada, Sweden

Financial crisis

Earlier today, we posted an excerpt from IceCap Asset Management’s latest letter to investors focusing on the farce that is the Greek bailout #3. Which can be summarized simply by the following table… … and Keith Dicker’s assessment which was that “for Greece, it’s mathematically impossible to repay its debt” and that …

Read More »

The US will be on a gold standard in 12 to 24 months – Schiff

Gold Standard America Peter Schiff

Today Peter Schiff stunned King World News when he said the US will be back on a gold standard “… in a year or two.” Schiff also said, “I would have expected a (financial) collapse to have already happened.”  Schiff went on to warn, “… at this point I’m going to …

Read More »

Former Federal Reserve Chairman: global economy is headed for disaster

Federal Reserve Chairman Yellen Greenspan Bernanke Volcker

From Filip Karinja, for Birch Gold Group In a recent interview with Fox Business, Alan Greenspan pulled no punches on the state of the economy. The former Federal Reserve Chairman believes that the United States and Europe are set to face some serious economic problems, saying that we have “a global problem of a shortage …

Read More »

Russia’s GDP shrinks 4.6% due to oil prices and sanctions

Russia Moscow bridge

Russia’s economy suffered a 4.6-percent fall in GDP in the second quarter of 2015 against the same period last year, the worst performance in six years, according to official statistics. A collapse in oil prices and Western sanctions were largely to blame, however improvement is forecast in 3Q of 2015. …

Read More »

European Central Bank to start buying private-sector debt

Benoît Coeuré ECB

The European Central Bank will start buying private-sector debt instruments within days with the aim of raising the bank’s holdings of assets and steering money to the economy, ECB executive board member Benoît Coeuré said Friday. The purchases “will have the objective to steer the balance sheet of the ECB …

Read More »

Greece likely to leave Eurozone and EU

Greece EU Grexit Athens

The Greek central bank warned Wednesday that the country could crash out of the eurozone and even the European Union if it fails to reach a bailout deal with international creditors. In one of the starkest warnings so far from a Greek institution, the Bank of Greece said: “Failure to …

Read More »