cnbc.com / by Robert Frank / May 31, 2012
America’s millionaire population declined last year for the first time since the financial crisis, according to a new report.
The population of U.S. millionaire households (households with investible assets of $1 million or more) fell to 5,134,000 from 5,263,000 in 2011, according to The Boston Consulting [...]
Welcome to Capital Account. A slew of bad news out of Europe, as Irish voters today attempt to exercise their sovereignty and cast their ballots in a referendum on Europe’s fiscal consolidation treaty. Meanwhile, European central banker Mario Draghi made it clear he’s fed up with national sovereignty. The ECB says europe needs new [...]
commodityonline.com / June 1, 2012
NEW YORK (Commodity Online): There is a lot of speculation that silver will rebound from lower levels in the coming months. The speculation comes as analysts predict that manufacturing will expand in key economies like China and USA which will likely boost the demand for the metal.
Some analysts believe [...]
forbes.com / by Warren Meyer / May 31, 2012
Two weeks ago, on the exact same day, I took two seemingly contradictory actions: I held a conference call of all my company’s managers discussing our new Facebook-led social media strategy, and I called my brokerage company to see if there was any way to borrow [...]
surfsantamonica.com / by Jorge Casuso / May 30, 2012
In what marks the City of Santa Monica’s second settlement with a national gold coin dealer this year, the owner of Superior Gold will be required to pay $2 million toward customer refunds.
The settlement comes three months after Goldline International, Inc., one of the nation’s [...]
mjperry.blogspot.com / by Mark J Perry / May 31, 2012 “The outlook for the restaurant industry remained positive for the coming months, as the National Restaurant Association’s Restaurant Performance Index (RPI) stood well above 100 in April. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant [...]
gold-speculator.com / by 5minforcast / May 31, 2012
>Investors bail from stock mutual funds (again): Chris Mayer on how we’ve been here before, and why it’s no reason to give up on stocks altogether
A trio of disappointments: jobs, GDP, Midwest business activity Hopscotching the world: One of Asia’s wealthiest men spots a bigger trend [...]
http://finance.yahoo.com/blogs/daily-ticker / by Stacy Curtin / May 30, 2012
Gold prices have tumbled 20 percent from their August 2011 record highs above $1,900 an ounce. The precious metal closed down more than 1% Tuesday to $1,548.70 after rating agency Egan-Jones downgraded Spanish debt and investors flocked from the Eurozone credit crisis to U.S. Treasuries, [...]
harveyorgan.blogspot.com / May 31, 2012
Good evening Ladies and Gentlemen:
Gold closed down$1.60 to $1563.70. Silver was down 22 cents to $27.74.
Gold was heading northbound and then at 9:50 am : BANG!! Our bankers showed up and down went gold and silver. Gold recovered somewhat and in the end it was only down by [...]
forbes.com / Jeff Bailey / May 31, 2012
Hedge fund manager David Einhorn, well known for his persuasive belittling of companies he has shorted–a recent successful target was Green Mountain Coffee Roasters (GMCR)– has slyly taken on a sturdier target in his May 29 letter to holders in his Greenlight Capital funds: Warren Buffett.
kingworldnews.com / by Eric King / May 31, 2012
In this piece exclusively for the King World News blog, Egon von Greyerz, founder and managing partner at Matterhorn Asset Management out of Switzerland, gives KWN readers globally an extremely important snapshot of where we are today and where key markets are headed in the future. [...]
blog.milesfranklin.com / by Andrew Hoffman / May 31, 2012
As I write Wednesday at 12:05 PM EST, gold has rocketed from a $20/oz loss to a $5/oz gain while the “DOW JONES PROPAGANDA AVERAGE” remains at its lows, the fifth such occasion this year that “Cartel Rule #1” will be broken if this relationship holds [...]
mises.org / by Murray N. Rothbard / May 31, 2012
[This article is excerpted from An Austrian Perspective on the History of Economic Thought (1995), volume 2, chapter 1, section 7: "Say's Law of Markets." An MP3 audio file of this chapter, narrated by Jeff Riggenbach, is available for download.]
While J.B. Say has been [...]
globaleconomicanalysis.blogspot.com / by Mike Shedlock / May 31, 2012
GDP, Real GDP, and Shadowstats “Theater of the Absurd” GDP
Every month Doug Short at Advisor Perspective writes an excellent report on GDP. With today’s release of the Q1 GDP Second Estimate, Doug Short has a new column worth a good look: Will the “Real” GDP [...]
economicnoise.com / May 31, 2012
Class warfare may be a good campaign strategy, but only if you are counting on STUPIDS to get you elected. Anyone with reasonable intelligence should see through the idiocy in such campaign chicanery. Accept for the moment, my first two statements about which more shall be said later. For an [...]
munknee.com / by Lorimer Wilson / May 29, 2012
One of the most fundamental relationships of the modern economy is the tie between the amount of energy a country consumes and their GDP and is an excellent way to predict a country’s economic productivity. [This article analysis the daily number of barrels of oil consumed [...]
If Barack Obama has anything to do with it, Conservative talk show radio is at risk of becoming extinct! Rusty Humphries talks about this and SO MUCH more on today’s episode of PolitiChicks.
safehaven.com / by Guy Lerner / May 31, 2012
I know they don’t move much, but in these turbulent times, just getting your principal back from an investment is a winning proposition. I have been bullish on bonds since March 30, 2012, and at the time, I suggested that this was an early sign of [...]
silvervigilante.com / May 31, 2012
The terminal episode is near for the financials. Of course, society will be manipulated into keeping them on life support with the oxygen of Federal Reserve Notes until further notice. Nonetheless, there is no sound reason for throwing one’s money into the abyss of the black hole banking industry, and [...]
silverdoctors.com / May 31, 2012
Inventory volatility was back after a slow day Tuesday, with 5 substantial silver inventory movements to report today from Wednesday’s action.
COMEX WAREHOUSE SILVER INVENTORY UPDATE 5/31/12
METAL DEPOSITORY STATISTICS SILVER Report Date: 5/31/2012 Troy Ounce Activity Date: 5/30/2012 DEPOSITORY PREV TOTAL RECEIVED WITHDRAWN NET CHANGE ADJUSTMENT TOTAL TODAY BRINK’S, [...]
tfmetalsreport.com / May 31, 2012
It gets you every time. And desperation is what we are seeing in the paper precious metal “markets”.
Today was just another example. No doubt you noticed the shockwave that was sent into the gold pit, beginning at 9:47 EDT today. In stages, a bullion bank (which one doesn’t matter) [...]
endoftheamericandream.com / May 31, 2012
Over the next several days, more than a hundred of the most powerful people on the planet will attend a secret conference at a hotel in Chantilly, Virgina. Some of the biggest names in politics and business will be there. The hotel is going to be completely locked down and [...]
baselinescenario.com / by Simon Johnson / May 31, 2012
“Why Nations Fail: The Origins of Power, Prosperity, and Poverty,” by Daron Acemoglu and James Robinson, is a brilliant and sometimes breathtaking survey of country-level governance over history and around the world. Professors Acemoglu and Robinson discern a simple pattern – when elites are held in [...]
dailyreckoning.com / by Bill Bonner / May 31, 2012
Baltimore, Maryland –
Thank God for dumb money!
What would the world be without chumps? Suckers? Bagmen and patsies?
Who would buy a ladies handbag for $1,500? Or blue-jeans for $150? Who would buy an oversized show-off pickup…or a $4 million McMansion?
Who would buy Facebook?
vanityfair.com / Joseph E. Stiglitz / May 31, 2012
Why won’t America’s 1 percent—such as the six Walmart heirs, whose wealth equals that of the entire bottom 30 percent—be a bit more . . . selfish? As the widening financial divide cripples the U.S. economy, even those at the top will pay a steep price.
thedailybell.com / by Staff Report / May 31, 2012
Out of the Mouths of Babes: Twelve-Year-Old Money Reformer Tops a Million Views … The youtube video of 12 year old Victoria Grant at the Public Banking in America conference last month has gone viral, topping a million views on various websites. Monetary reform—the contention that [...]
dailyreckoning.com / by Dan Amoss / May 31, 2012
Jacobus, Pennsylvania – The recovering US economy is not recovering…and neither are the economies of Europe and China.
As the chart above shows very clearly, manufacturing activity in the Eurozone has already slumped to recessionary levels, while US manufacturing activity is merely muddling along.