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European Austerity
16:14:22 - 08/06/2012
The Euro-zone is now relying on budget cuts in order to meet their goals. As we have seen the past when governments cut down their spending it always has a negative reaction. As governments tackle their budget cuts citizens are reacting by trading down to cheaper groceries, buying fewer big-ticket items, and other bargain prices. The biggest shift comes in groceries. European households have spent nearly double of what Americans do on food to eat at home. With higher than normal prices, European countries are dwindling their spending.
European Easing
10:41:12 - 08/03/2012
European Central Bank President Mario Draghi dimmed hopes that the central bank would take action in troubled euro-zone debt markets. This could will a global selloff. After a week of saying that they would do “whatever it takes” to save the euro, Mr. Draghi, softened his tone. Many believe that pressure from Germany had a lot to do with Mr. Draghi’s backtracking. The new ECB statement is that they would only deploy the full force of its arsenal after the regions government used their own funds to stabilize the markets. It goes to show that when it comes to stimulus plans it can be very difficult to come to an agreement on. In this case the ECB has to work on pleasing its bigger share holders such as Germany and France while being able to help the countries in trouble.
Fed To Launch Stimulus
09:45:46 - 08/02/2012
The Federal Reserve has taken another step in the direction of launching another round of stimulus but has stopped short of doing it right away. This decision came to be when the two day central bank meeting ended. According to Wall Street Journal, “’the Fed said it will "closely monitor" the economy and "will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions.’ Translation: The Fed will move if growth and employment don't pick up soon on their own.” If it is one thing we have learned from such a bad economy is that it is not going to get any better any time soon. The economy is in a state where we are not only affected by our own actions but by international actions as well. It does not help us in any way that globally economies are in a rut.
Regal Assets interviews Jim Rogers
09:44:08 - 08/02/2012
Jim Rogers is a global financial luminary. He's called the market right so many times that even the Main Stream Media half listens when he speaks. They don't want to understand what he's saying, but they do listen. And now he's saying that gold may take a breather in 2012, that you need to be following your passion and you should be thinking about farming, not trading. The world is changing, has always been changing and always will be. The key is to get out ahead of the change and use it to help you find your calling. Jim found his a long time ago. Back when he started on Wall Street, it was not the glorified place that it is today--for now. Rather, it was a back water "wasteland" where the "black sheep" of the family headed. And it probably served its original purpose far better than it does today. The concept of allocating capital, distributing risk and helping the economy grow are completely alien to its current occupants. But Jim believes that in a few short years, it will go back to be a wasteland and allow the rest of the economy to grow. The Too Big To Fails have locked the Country into a cycle of failure, that will end when they finally do fail. Jim is considerate, engaging and intelligent, and he was a joy to have on our show.
Regal Assets interviews Marc Faber
09:42:58 - 08/02/2012
The renowned Dr. Doom also known as Dr. Marc Faber joined us to discuss his latest commentary that it might just be time to start looking at real estate investments in severely distressed markets such as Florida and Arizona. Dr. Faber explained his outlook for the Western Economies, his forecasts for Gold and Silver, and his take on "printing press" economics. Ever voluble, while at the same time sounding the clarion call for the collapse of civilization, Dr. Faber talks about what things make for a happy, satisfying, and content life. Never dull, Dr. Faber has always got a unique perspective on things, which is why his Gloom Boom and Doom Report is must reading.
Regal Assets interviews G. Edward Griffin
09:41:19 - 08/02/2012
G. Edward Griffin joined us to discuss the current economic climate. For those not familiar with his work, he wrote the definitive book on the Federal Reserve--The Creature From Jekyll Island, which details the shady dealings that went on to pass the Federal Reserve Act through Congress. Unfortunately too few people are familiar with this tale. Griffin has remained active in the debate and believes that everything that's going on right now is a prelude to The New World Order and universal totalitarianism. When faced with the decision to Get out of Dodge or to fight to restore the greatness of America, Griffin believes that there is nowhere to run to and nowhere to hide. He likens our contemporary struggle to that of the early founders of America. They didn't run off to Canada or Mexico, they stayed and claimed their heritage. And he doesn't propose violent resistance, which is doomed to failure, but rather a campaign of enlightenment and increasing the public's awareness of the mass criminality and ulterior agendas of those in power. He believes it only takes one percent of the country to lead the movement that can take back America. And he's not talking about Occupying Wall Street either. He is hopeful that the tide can be reversed. The Internet is the great equalizer, which allows vast amounts of knowledge and truth to be imparted at the speed of light. And this is exactly why the government and the shadowy powers are trying to restrict your access and freedom to communicate on it.
Regal Assets interviews Eric Sprott
08:56:44 - 08/02/2012
Eric Sprott had just finished his keynote address at the Hard Assets investment conference in NYC when he took a few minutes from his busy schedule to speak with us. While being rational about the recent decline, he was no happier about it than anyone else. Eric understands these markets better than almost, and he's built his fortune and reputation on the sector. Through his ETF's, his various investment and financing vehicles, he's a dominant figure in the industry. Eric says he has no intentions of selling. He made some very poignant points about numerous countries facing their Minsky Moments, the time when the government concludes it can no longer service its debt, let alone pay it off. The number of countries arriving at this crucial event is rising dramatically. So all any of us can do is simply wait and see. If you're confident in your decisions and understand the system is in a full-scale existential crisis, there's really nothing else you can do.
Regal Assets interviews Peter Schiff
08:52:37 - 08/02/2012
Peter Schiff joined us for a discussion of his latest book, The Real Crash. While much of what Peter predicted in his prior books has come to pass, the ultimate crash has yet to happen. And judging from his recent testimony at Congress, the elected representatives do not have a clue what's going and what their previous policy blunders are causing. It is evident that they have absolutely no conception of economic realities and that every dollar the government spends is forcibly removed from the private sector, thereby decreasing economic activity and lowering incomes and taxes that eventually get paid. And because they are unwilling or unable to understand these effects, the crash gets closer and closer. How many people Peter will eventually be credited with saving is anyone's guess, but he must be given credit for sounding the alarm bells earlier than just about anyone else.
Euro Manufacturing Declines
14:07:42 - 08/01/2012
Eurozone factory activity fell at its steepest rate in more than three years this July. Export orders also plunged despite a weakening euro currency, suggesting that the economy is in and will be in a real struggle. It was not just the weaker countries that were suffering but the major power houses like Germany as well. Germany suffered its largest fall in new exports of any euro-zone country, showing us that now even Germany is in danger.
Feds Meet
11:15:26 - 07/31/2012
The markets are taking a beating today as investors are awaiting a decision by the Federal Reserve. The Federal Reserve will have a result for their monetary-policy meeting tomorrow morning. As we await the fed’s decision, the markets float about. There is not much movement in the markets today and we will not see much activity until we get some hints from the feds. Chances are that we will not see a QE3 announcement from this meeting. According to Bloomberg news, “the Fed will probably forgo announcing a third round of large- scale asset purchases this week, and is more likely to wait until September to unveil plans to buy $600 billion in housing and government debt. Confidence among consumers unexpectedly rose for the first time in five months. Residential real estate prices declined less than forecast.”
Predicted Economic Slowdown
08:05:29 - 07/30/2012
As if the United States did not already have a long list of factors to hinder the economy, more have appeared. Military spending is falling and federal stimulus programs are coming to an end which is further slowing the already weak economy. With a struggling economy and other factors continuing to add up, we have yet to see the worst. According to Wall Street Journal, “In recent weeks, policy debate in Washington has turned to the looming ‘fiscal cliff,’ billions of dollars in spending cuts and tax increases set to take effect at the start of the new year.
Jobless Claim Still Unclear
17:26:47 - 07/27/2012
There was a positive note in the jobless claims this week though it is not enough to determine the status of our economy. The amount of people filling the claim has contained positive news but there are still other negative signs. The numbers showed 35,000 last week to a seasonally adjusted 353,000. The four-week moving average of claims fell 8,750 to 367,250 and that is the lowest it has been since March. Our economy is in a very odd state where it is extremely difficult to determine what is going to happen next. This is why the Federal Reserve is taking extreme precautions on what they do next. The job market was improving at the beginning of the year but has since taken a plummet. Our economy is currently like a roller coaster, with all the ups and downs it could make you sick.
Gold And Silver Rally
09:35:32 - 07/26/2012
Draghi has come out to say that he will defend the Euro from failure. With this news investors have gained an immense amount of confidence and have driven markets up. Even the Dow, S&P 500 and NASDAQ are up. The real winner with this new news item is precious metals.
Federal Reserve Under Pressure
10:50:25 - 07/25/2012
The Federal Reserve stated several times in the past month that they would not take a stimulus option off the table. The feds kept saying that if the economy were to worsen they would be forced to stimulate. Well, it looks like the time to stimulate is approaching a lot faster than we thought it would. With the Euro-zone economy in shambles, the global economy is feeling the after effects. According to Wall Street Journal, “Since their June policy meeting, officials have made clear—in interviews, speeches and testimony to Congress—that they find the current state of the economy unacceptable.
Euro In Distress
09:40:23 - 07/24/2012
The Eurozone crisis is just like nagging back pain that will go away for a bit but just unexpectedly reappear. Europe’s leaders had been hoping that their debt crisis had taken a break for the summer. Yesterday we saw financial markets take a major plummet due to news from the Eurozone. There is no calm period during the summer and that nagging back pain is back. According to Bloomberg news, “Spanish bond yields surged to new highs, forcing the European Union to contemplate its fourth and biggest sovereign bailout, after Greece, Portugal and Ireland. On top of this, fear that Greece might have to leave the euro mounted again, after reports that it won’t meet the terms of its latest aid program. Italy and Spain announced emergency curbs on short- selling of securities. Investors hammered stocks on both sides of the Atlantic -- a reminder, if anyone needed it, of the global ramifications of this crisis.” Yesterday we discussed the issues that Greece was facing in our daily blog but today we look at the entire Eurozone crisis and how it affects us all globally.