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Federal Reserve: Same Old, Same Old

Posted on July 31, 2013

July 31, 2013 For immediate release Information received since the Federal Open Market Committee met in June suggests that economic activity expanded at a modest pace during the first half of the year. Labor market conditions have shown further improvement in recent months, on balance, but the unemployment rate remains elevated. Household spending and business […]

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Bernanke’s Bond Bubble Will Pop — Crofton

Posted on July 31, 2013

The Federal Reserve will lose control of interest rates as the “great rotation” out of bonds into equities takes off in full force, according to one market watcher, who sees U.S. 10-year Treasury yields hitting 5-6 percent in the next 18-24 months. “It is our opinion that interest rates have begun their assent, that the […]

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Bernanke Must Testify Under Oath

Written by Gary North on July 30, 2013

In September 2008 the Federal Reserve Bank of New York, a privately owned entity, paid $182 million to buy 80% of the busted insurance firm AIG. Why would any privately owned company pay par value for the shares of a company that had only hours to live? That’s what the court wants to know. Why? […]

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Lame Duck: Bernanke Gets Invisible

Written by Gary North on July 29, 2013

Ben Bernanke will not attend the central bank junket known as the Jackson Hole meeting. Months ago, he claimed that there is a scheduling conflict. This was reported with a straight face by the media. Bernanke is now a lame duck. I do not expect major policy changes before he departs in February 1. He […]

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Who Owns Congress? The NSA or the FED?

Written by Gary North on July 25, 2013

The debate goes on. The failure of Congress to make a token cut in the National Security Agency’s official budget on July 24 was a green light for the NSA to spy on all Americans, forever. That vote indicated that the NSA owns Congress. But hold on! Don’t jump to conclusions too fast. Has Congress […]

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Fantasy Land Financial Analysis for Investors

Written by Gary North on July 24, 2013

This headline appeared on the MarketWatch site. BEIJING (Caixin Online) — The monetary policies of major economies are diverging for the first time since 2008. The euro zone, Britain and Japan are sustaining quantitative easing, while the United States, China and other major emerging economies are on a tightening path. Here is the most recent […]

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House Flipping Profits on Long Island: $40,000

Written by Gary North on July 22, 2013

Greenspan said that he could not see any bubbles. Bernanke said there was no bubble in 2006.  He said housing prices would not fall. Across America, people were flipping houses. Buy low, sell higher in six months: instant money. My next door neighbor told me in 2005 that she was thinking of flipping houses.  I […]

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Housing’s Mini-Bubble Has Popped.

Written by Gary North on July 18, 2013

Mortgage rates are up. Mortgage applications are down.  New home permits are down. New home construction is down. Not a little down. “Falling off the burning trestle” down. Mortgage applications. Zero Hedge comments: For the 9th week of the last 10 mortgage applications fell (led by refis – down 55% from their peak). Now down […]

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QE to Infinity? Highly Unlikely.

Written by Gary North on July 18, 2013

On February 16, 2013, Jim Sinclair wrote this. QE to Infinity, followed by Gold balancing the balance sheets of the sovereign balance sheet disasters. Just as there is no tool other than QE to feign financial solvency, there is no tool to balance the balance sheet of the offending entities other than Gold. It is […]

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