A Return to Gold Is Inevitable — Peter Schiff

Written by Gary North on December 7, 2011

The West’s economy is interlinked by currencies, banks, and debt. There is no island of safety. Peter Schiff has written a provocative report on how close we are to what he calls the crack-up. It’s a good thing, he says. Up until very recently, political centralization was the norm. Today, the centralized Eurozone is about […]

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Layoffs at the #3 Bank: Trouble Agead

Written by Gary North on December 7, 2011

Citigroup is the third largest U.S. bank. It plans to lay off 4,500 people. Its CEO said this: “Financial services faces an extremely challenging operating environment with an unprecedented combination of market uncertainty, sustained economic weakness in the developed economies and the most substantial regulatory changes we have seen in our lifetimes,” said Pandit, 54. […]

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New Careers for Liberals — Deserted Churches

Written by Gary North on December 7, 2011

This TV report from CNN tells the story of burned-out theologically liberal boomers who are going back to mainline denomination seminaries. They plan to work in part-time jobs for part-time pay in churches attended by old people on Medicare. The report did not say this, exactly, but it did admit that many mainline churches cannot […]

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Foreigners Are Buying America’s Gasoline

Written by Gary North on December 7, 2011

This is hard to believe. Gasoline producers find it more profitable to sell gasoline and diesel to foreigners than to Americans. They are exporting it. Foreigners are bidding higher prices. In short, foreigners are in a stronger position to buy what refineries produce than Americans are. This is discussed as though this is excess gasoline […]

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U.S. Gun Manufacturers Are Being Swallowed Up

Written by Gary North on December 6, 2011

A mysterious company, privately owned, is buying up small American manufacturers of guns. Its financial backer is a private investment organization. Very little is known about who the owners are. It is very big. It has bought Remington. It has bought Bushmaster. It has bought DPMS, the military style semiautomatics. It is like the Lone […]

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Asian Big Spenders Are Replacing America’s

Written by Gary North on December 6, 2011

Rich Americans still buy $65 billion a year of high-end goods, but the new markets are the emerging markets. Steuben glass went out of business last month. That magnificent, flawless, and expensive product line could no longer find a market. In Italy, it’s the same. Companies that had targeted rich buyers in Europe and the […]

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Corzine’s First Lawsuit Begins

Written by Gary North on December 6, 2011

It was obvious a month ago that Jon Corzine, the CEO of the bankrupt MF Global, would spend the next decade or so fending off lawsuits. The first one has begun. Former MF Global employees are suing Corzine and the board for misrepresenting the economic prospects of MF Global. On November 2, I wrote this: […]

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Key Indicator Economic Indicator Points to Slowdown

Written by Gary North on December 6, 2011

The Institute for Supply Management index for the service sector fell to 52 from 52.9 in October. Economists were caught flat-footed. They had expected 54. Anything below 50 indicates economic contraction. So, the economy seems to be reversing. It is headed up at a slower rate than before. The ISM is a widely watched indicator: […]

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