TOTALINVESTOR: Jul 3, 2009

Friday, July 3, 2009

Gerald Celente: Gold @ $2000 and the US Dollar Worthless

China / America in the Future HUMOR

Sweden Cuts Deposit Rate to NEGATIVE .25%

There has been a lot of ludicrous recommendations recently to combat deflation by making deposit rates negative. I did not think any central bank would be dumb enough to try it. I thought wrong.

Today, Riksbank, Sweeden's central bank cut the deposit rate to -0.25% effectively charging savers interest on deposited money. (more)

There Is More to Wealth Than Money

Some Fridays are better than others. Today is not going to be pretty. Like a character that refuses to die in a bad horror movie, the U.S. job market posted some shocking June numbers. It has revived the dormant nightmare that this may be a long "L" shaped recession. Or even worse, a double-dipper, with the second dip just getting started.

The U.S. Labor Department Reported that around 467,000 Americans lost their jobs in June. This was unwelcome news. The data had been getting less bad every month since January. Then the June numbers rocked up, fell out, and took stocks down with them. This is causing everyone with a pulse (and most with a brain) to have second thoughts about just how good things are-or how much worse they might get. (more)

Never Ending Government Lies About Markets

The purpose of government is for those who run it to plunder those who do not. Throughout history, governments have used violence, intimidation, coercion, and mass murder to enforce this system. But governments' first line of "defense" is always a blizzard of lies - about its own alleged benevolence, altruism, heroism, and greatness, along with equally big lies about the "evils" of the civil society, especially the free market.

The current economic crisis, which was instigated by the government's central bank and its boom-and-bust monetary policies, among other interventions, has once again been blamed on "too little regulation" and too much freedom. (more)