Europe’s Resolution: Ignore Unpaid Bills
With the entire European bond market now a central bank controlled policy mechanism, there are no longer any checks and balances. To that end, there is no longer any need for Europe’s insolvent nations to pay their debts. In short, anyone owning any government bonds in the EU can pretty much kiss that money good-bye.
India Government Blinks On Gold Demand
Bowing before Central Bankers, India’s Finance Minister stated that demand for gold must be moderated. He is going to make it more expensive to import gold. Needless to say, this is not going to sit well with hundreds of millions of Indians who want gold and not paper. I wonder what Indians are paying for rope nowadays?
Next Comes The US Downgrade
Just like the last time when the US was in a crisis situation with the debt limit, the fiscal cliff is bound to force rating agencies to downgrade the US, once again. Moody’s could to lower the rating to probably Aa1; however, in reality, it should be rated as junk at this point. Of course, no one is really lending the US money anyway; thus, the credit rating argument is pretty much becoming moot.
6 Things In the Senate Fiscal Bill
Here are a couple of things in the 157 page fiscal bill that was passed by the Senate at 2 AM of the new year…
1. Market loss assistance for asparagus farmers.
2. Tax credit for 2 and 3 wheel electric vehicles.
Yes, this is the best Senate that money can buy.
Boehner Issues Statement
House Speaker John Bonehead err… Boehner, after voting to screw the American taxpayer with higher taxes, issued a statement that anyone with an IQ greater than their shoe size knows. The federal government has a spending problem. Well John, it is worse than that… With very few exceptions, we have elected officials going against those who put them in office in the first place.
Illinois Court Strikes Down State’s Ban on Concealed Carry
In a 2 to 1 decision, a federal appeals panel in Chicago has thrown out the state’s ban on carrying concealed weapons and ordered the Illinois Legislature to craft a law legalizing the practice within 180 days. Another victory over gun control freaks like Obama and Feinstein.
Being Overweight Is Linked to Lower Risk of Mortality
According to new research this week in the Journal of the American Medical Association, researchers say that being overweight may lead to a longer life. The possible reason is that obese people get better medical care because they are screened more regularly for chronic diseases. Of course, Obama-care will reverse this trend fast and with enough time, everyone’s survival rate drops to zero.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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