Canada’s Real Estate Crisis: The China Syndrome

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U.S. Pensions ‘Cash Negative’ by 2016: Analyst

America’s sprawling 401(k) pension system will turn cash flow negative in 2016, threatening disruption for asset managers and selling of equities, according to analysis by Cerulli Associates, a research house.
The $3.5 trillion system attracted fresh contributions of $300 billion in 2012, with $276 billion either withdrawn as cash by retirees or rolled over into individual retirement accounts (IRAs), Cerulli estimated.
However, by 2016 it forecasts that inflows will be $364 billion and outflows $366 billion, with the deficit only widening year on year after that as the core of the baby-boomer generation retires.
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Gold and Silver Stocks Begin Next Leg Higher

news.goldseek.com / By Jordan Roy-Byrne, CMT / 13 June 2014
Yes you read that correctly. The miners have begun another leg higher because the evidence strongly supports the view that they have formed a higher low. Only time will tell for sure but the evidence is quite strong. It seems that every analyst was calling for a July low. I felt strongly that the miners would make their next low after Gold broke below $1200. I was far more confident in the bullish case at the June 2013 and December 2013 bottoms. I was even skeptical after Tuesday’s upside explosion. However, the weight of the evidence today argues that the miners have made a higher low and are starting their next leg higher.

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The Baltic Dry Index Is Having Its Worst Year Ever

At 906, the Baltic Dry Index slumped to 12-month lows showing absolutely no signs whatsoever of the Q2 renaissance in global growth that has been heralded by all the highly-paid meteoroconomists.
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V: The Guerrilla Economist on demise of US dollar as Reserve Currency & Collapse of US Economy

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French say 60% of National Debt is Illegal – Default Anyone?

armstrongeconomics.com / By Martin Armstrong / June 12, 2014
I have been warning that there will be no solution without a massive debt default. This is simply the way it has historically always gone down. Public debt, which is strangely considered quality, has been actually the worst that can possibly exist. Simply stated, no government has ever paid its debt except the single exception of Romania and that produced MASSIVE deflation.
The French have put out a study and are suggesting that this may be the solution. In a 30 page report, they are now saying that 60% of the national debt is illegal. Once you declare it is illegal, then the fools who bought it are at fault.
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