Your Nightmare Scenario Is Too Mild

Written by Gary North on November 29, 2011

Karl Denninger sometimes writes some choice stuff. He follows the capital markets. He thinks the endgame scenario in Europe marks the beginning of the end. I’m not equally sure. The New World Order brigade has a lot of inflating to do between now and the end of the inflationary road. Denninger’s summary of the welfare […]

Continue reading →

Which Governments Owe How Much to Foreign Banks?

Written by Gary North on November 29, 2011

Each nation’s government owes money to foreign banks. The foreign banks are threatened by a default — an “Iceland event.” The biggest debtor is the USA. If our government defaults, the West’s economy collapses. Which nation is most at risk today of foreign governments’ defaulting? France. France is Italy’s biggest creditor. But Italy is close […]

Continue reading →

The Daisy Chain of Banking: From Europe to the USA

Written by Gary North on November 29, 2011

John Mauldin monitors the markets. He is the author of Endgame. He also used to be my business manager. He is less apocalyptic than I am, but is is scary enough. Here is his latest assessment: I am constantly asked what my biggest worry is. What is the largest monster I think I hear in […]

Continue reading →

Stock Market Trigger Points — Richard Russell

Written by Gary North on November 29, 2011

Richard Russell has been writing his newsletter on stock market investing for over 50 years. So, when he lists a series of trigger points, I pay attention. Here are his thoughts before yesterday’s rally. “As of now, both the Dow and the S&P are down for the year.  I call this Stage One.  Stage Two […]

Continue reading →

Worldwide Recession, Says OECD Report

Written by Gary North on November 29, 2011

The OECD is an international organization: the Organization for Economic Co-operation and Development. It is not given to wild predictions. Recently, it issued a report that said this: If everything came to a head, with governments and banking systems under extreme pressure in some or all of the vulnerable countries, the political fall-out would be […]

Continue reading →

Cyber Monday! What Will You Buy Today?

Written by Gary North on November 28, 2011

Are you planning to buy anything on-line today? I’m not. I bought an iPad 2 on Black Friday. I wrote about my experience here. Will I by anything else from Apple? Maybe an iPad 3 next year. Maybe an iPod if I need one to work with my new video equipment: a teleprompter. This was […]

Continue reading →

Half of Britain’s Leading Bankers Fear a Major Crisis Soon

Written by Gary North on November 28, 2011

We remember the weekend collapse of Lehman Brothers’ investment bank in October 2008. A recent survey of Britain’s senior bankers reveals that over half of them fear a Lehman-like event in Europe. [Note: “City” refers to the banking section of London that exists as a separate legal jurisdiction. It is shorthand for “Wall Street.”] A […]

Continue reading →

Bailout FOR the FED, Not from It

Written by Gary North on November 28, 2011

Remember this question: “Who guards the guardians?” I offer another: “Who lends to lender of last resort?” This is not hypothetical. The Federal Reserve is called the lender of last resort. In theory, it can always escape  an audit. It cannot be shut down. But this applies legally only to the Board of Governors, an […]

Continue reading →

Tea Party vs. Occupy Wall Street: Skirmish in Philadelphia

Written by Gary North on November 28, 2011

It had to come, and it has. A Tea Party coalition in Philadelphia has taken on the far-Left OWS movement. The OWS called for a boycott of retail establishments on Black Friday. The Tea Party group correctly identified the motivation of the OWS. It issued a press release. A coalition of conservative groups, representing tens […]

Continue reading →