by Nick Giambruno “Since 1789, the United States has paid all of our bills on time,” said former Treasury Secretary Janet Yellen. “In our history, we have never defaulted on our debt or failed to pay […]
by Tyler Durden While the big news last week was that Italy’s third largest bank, Monte Paschi, had been nationalized after JPM destroyed the bank’s chances of securing a private-sector rescue, and that Italy would […]
By Michael Snyder The Dow closed above 18,000 on Monday for the first time since July. Isn’t that great news? I truly wish that it was. If the Dow actually reflected economic reality, I […]
By Michael Snyder Get ready for another major worldwide credit crunch. Today, the entire global financial system resembles a colossal spiral of debt. Just about all economic activity involves the flow of credit in some […]
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