By: Peter D. Schiff, President, Euro Pacific Capital - 28 December, 2007
The subprime mortgage crisis is merely the tip of a very large iceberg. Beneath the surface lies not only a sea of tenuous loans to prime borrowers, but also an assortment of other liabilities backed by auto loans and credit card debit. Now that home equity extractions, "zero percent auto financing" and "zero interest" credit card rollovers are much harder to come by, Americans must do without the credit lifelines that have previously kept them afloat. Full Story
By: Short Fuse & The Daily Reckoning Crew - 27 December, 2007
-Assassination fuels oil prices…market dashes economists' hopes… -Consumer confidence is up - for now…rising dollar predictions from the long investors… -It's difficult to write while blowing your nose…and more! Full Story
By: Jim Willie CB, Golden Jackass - 27 December, 2007
Wall Street is in deep sneakers. They are busy putting a positive spin on 2007, which in mid-year unleashed the beginning of an unstoppable nightmare. The first cracks were revealed in gory fashion in the form of subprime mortgages blasting fissures through the entire bank and bond system. The next cracks will blossom into a mindboggling series of shocks next year. The US Federal Reserve planted millions of seeds, led by Alan Appleseed Greenspan, during almost two years of ridiculously irresponsible low interest rates so as to assure a doomed outcome. Full Story
By: Michael J. Kosares, Centennial Precious Metals - 27 December, 2007
Given the perspective of 100 years from now, analysts might very well find currency inflation the common source for the rise in both the Dow and gold during their respective up-cycles. If currency inflation could take the Dow from 800 to 11,750 during its bull market, why couldn't it take gold from its $270 starting point to $4050? If gold were to achieve a price of $4050, it will have matched the roughly 1500% appreciation of the stock market during its bull phase. That makes the current price an attractive entry level. Full Story
1st Hour: Headline news & market forecast. Spotlight Picks with big dividends. The International Forecaster and Chris Waltzek answer listener questions.
We’ve all heard it before: The next major depression is expected to begin sometime around 2011-2012 and continue its ravaging impact until about 2014-2016. This belief has become so accepted among cycle theorists as to be almost a type of gospel. Full Story
By: John Mauldin, Millennium Wave Investments - 24 December, 2007
Pop Go the Bubbles Lights for Myanmar, Water for Darfur A Half A Trillion Here and There Consumer Spending is Up? Wait, Is It Down? The Presidential Race Family, Christmas and Home Full Story
By: Bob Chapman, The International Forecaster - 24 December, 2007
As we mentioned in the last issue the ECB injected a mind-addling, unfathomable, gigantic $501.50 billion into its banking system. The effort forced the 2-week Euribor down 50 BPS to 4.45%; this follows the previous $1 trillion the 20 major central banks have already thrown into the system since August 9th. Simultaneously the Fed, SNB, the Bank of England and the BOC put in another $50 billion and they will add more until they think the system is fixed, at least for the time being. This is incomprehensible and it is going to get lots worse. Full Story
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