The president of the European Commission, Manuel Barroso, insisted that the fiscal union in the eurozone will lead to “intensified political union” for all 27 member states. In fact, he announced to set out plans for a European federation next spring, right after he done smoking another joint with Cheech and Chong.
Gold has been such a downturn that nobody wants it except eastern countries, like China, that scooped up a record 223.5 metric tons of physical gold in March. In addition, India imported 100 tons of gold for the second month in May. So, while many in the West seem to despise gold, isn’t nice to know that physical gold is finding a home?
12 Concerning Economic Indicators
Here are a few…
1. Copper’s 20% downward price this year foreshadows a stock market collapse.
2. U.S. retail spending is repeating the pattern seen in the last recession.
3. Manufacturing activity all over the country is showing signs of slowing down.
Banks Fooling People
You know something is up when JP Morgan and Bank of America boosted their first quarter profits by 45% and the investors are dumping the stock. Why? Because the real revenue, after everything from litigation to bad debts, went down. So, how are they going to raise revenue? One can expect more fees and penalties with even lower interest for doing business with them.
Muni Default Trend
Although rare, for now, Moody’s is seeing an alarming trend of muni defaults developing. Past defaults were usually confined to specific projects, like healthcare or housing developments; however, now general governments are defaulting. Perhaps, a reason that there are not more defaults is Washington stimulus.
Flawed Cancer Research
Two researchers found that a 11% of 53 papers on cancer published in reputable, peer-reviewed journals was solid, while the other 89% could not be reproduced. The fact that the vast majority of taxpayer funded cancer research, influenced by Big Pharma, is B.S., is troubling. Can you say conflict of interest?
In a recent report, only 12% of Americans believe that gun-related homicides have fallen 39% since 1993. In addition, 56% believe that gun crime is higher now than it was 20 years ago despite the fact that it has declined 69% during that time. Tell a lie long and loud enough, people will eventually start to believe it. Right Obama?
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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