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Category: Sovereign Debt

June 18, 2012 Category: Sovereign Debt

‘Drachmageddon’ Averted… But No Surprise

Believe it or not, Greece actually wants to stay within the Eurozone. ‘Drachamageddon’ has been averted… but it should be no surprise.

April 19, 2012 Category: Sovereign Debt

Bankrupting America: The Latest Shocking Numbers

Here’s a round up of the some of the latest shocking numbers detailing the continuing bankruptcy of our nation.

Category: Sovereign Debt

Politicians Who Can Add…

The suddenly cost-conscious (read: election year) Republicans on the Senate Budget Committee recently whipped out their calculators to compare the debt levels in the Eurozone to the current U.S. national debt.

October 8, 2011 Category: Sovereign Debt

Bank of England: This is the Worst Financial Crisis… Ever

The Governor of the Bank of England says that we are in the worst financial crisis ever. We hate to say it but we actually agree with a central banker right now.

August 7, 2011 Category: Sovereign Debt

Weekend Roundup: A Brief Update on the U.S. Downgrade

While I am on the road this weekend, I am keeping a close eye on the unfolding drama in the global economy. After the S&P’s decision to downgrade America’s credit rating, things are certain to get interesting this week.

August 5, 2011 Category: Sovereign Debt

U.S. Braces for Possible S&P Downgrade

Editor’s Note: As stocks see their worst week in almost two years, the rating agency Standard & Poor’s may be getting ready to downgrade the credit rating of the United States government. This is no surprise to us. In fact, two days ago, the U.S. public debt shot up over 100% of GDP, according to a news story from AFP. This puts the U.S. in the same category as nations like Japan, Greece, Italy and Ireland, to name a few. Also, Moody’s announced that the U.S. needed to lower the debt-to-GDP ratio to 73% by 2015 in order to ensure the sustainability of the AAA credit status.

August 2, 2011 Category: Sovereign Debt

$2.4 Trillion: The Largest Debt-Limit Increase in U.S. History

Editor’s Note: The debt compromise which passed the House on Monday evening with a vote of 269-161 is the largest debt-limit increase in U.S. history. In essence, the Federal government just got a blank check. This is no surprise given our current economic state. Despite months of pushing the “Recovery is here” propaganda, even the most crafty of politicians cannot hide the real economic truth from the American people. The ship is sinking and everyone is beginning to notice. With this new debt deal, Washington has at least given itself enough breathing room to glide through the 2012 Presidential election year. The can has been kicked down the road yet again. Really tough decisions lie ahead. It will come in the name of “sacrifice.” It will take the form of higher inflation, slashed spending, and finally gargantuan tax hikes. As I have been saying for years, you must prepare. You have no choice. Don’t fall for the mainstream media’s “blame game.” Right now, it does not matter who is to blame. Wake up from the “Conservative-Liberal” deception. When the Titanic is sinking, the first thing you do is grab your life boat. There will be a time for sorting out the details and placing blame later. The unprepared will remained focused on the politics of the matter. The informed will spend their valuable time preparing their financial gameplans. Its time to turn down the noise and get busy creating a plan.

August 1, 2011 Category: Sovereign Debt

Visualizing the U.S. National Debt: Debt Stacked in $100 Bills

This weekend, I ran across this unique presentation that attempts to visualize the U.S. National Debt through stacks of $100 bills.

Category: Sovereign Debt

“Last-Minute” U.S. Debt Deal – What to Expect Now

What a surprise! After the mainstream media forced you to watch hours upon hours of coverage on the staged debt ceiling “crisis,” Washington somehow found a way to save their own hides, and pull off a “last-minute” debt deal.
Here’s what to expect now…

July 29, 2011 Category: Sovereign Debt

Friday Reader Q&A: Should I Be Concerned About the U.S. Debt Ceiling?

Q: Jerry, I recently found your book, Bankruptcy of our Nation, while browsing at my local bookstore. I am so glad that I have found you as you seem to be saying so much of what I am feeling deep down. I am almost 58 years old and have a large amount of money in a traditional IRA. I am very concerned about how the current debt ceiling crisis is going to impact it, and my retirement. Should I cash out now and move everything to precious metals and other hard assets? Thanks from a new reader and listener. (Don G., Newark, NJ)


Category: Sovereign Debt

Social Security to Worried Seniors: ‘We don’t know’

The risk of a U.S. default has incited panic among many older Americans, who are now calling the Social Security Administration to find out what’s going to happen to their monthly benefits if the debt ceiling isn’t raised by Aug. 2.

In response, the Social Security Administration has posted very specific instructions on its web site for how the representatives who are handling inquiries from the general public should respond.

The script is short, to the point — and not very comforting: “We’re sorry but we don’t know.”

June 9, 2011 Category: Sovereign Debt

Clinton in Talks About Possible Move to World Bank

Secretary of State Hillary Clinton has been in discussions with the White House about leaving her job next year to become head of the World Bank, sources familiar with the discussions said Thursday.

May 11, 2011 Category: Sovereign Debt

SHOCK: Irish Government Raids PRIVATE Pensions To Pay For Spending

Editor’s Note: Ireland is in a tough financial spot. Unlike the U.S., it cannot simply print money to spend its way out of economic pain. So, with relatively few options, the Irish government is turning on its own citizens. Throughout history, governments have often sought to plunder the wealth of their own citizens through confiscation when they run out of options. It will be interesting to see how the citizens react to this one. Trust me, other governments with similar economic problems will be watching closely too. If little resistance is seen, expect more of this around the globe. It is because of stories like this one that I have been warning for years for Americans to keep their retirement funds diversified. 401k’s and traditional IRA’s are where Americans have been “trained” to store the majority of their retirement funds. For those of you who are interested in creating multiple streams of income in retirement, we are working hard to release a product just for you soon. Stay tuned!

May 2, 2011 Category: Sovereign Debt

Guest Editorial: My 401k Dilemma

In 2008, our country went through a major financial meltdown. I stood there and watched 17 years of savings diminish. Half of my 401k was gone and my retirement plans went out the window. In September of 2008, I stopped my 401k contributions. I realized that some other plan was needed. As long as people in Washington are salivating over my retirement accounts, I will not contribute one more dime! I would rather buy silver, gold, and other commodities. I would rather be in control of my own retirement. The last thing I want to do is to depend on the government for anything.

April 17, 2011 Category: Sovereign Debt

Jerry Robinson Interviewed About U.S. Economy on Iranian State TV Founder, Jerry Robinson, was recently interviewed about the state of the U.S. economy on Iranian State Television (

March 28, 2011 Category: Sovereign Debt

Riots Engulf Central London as Budget Cuts Come Into Effect

A labor union led protest march in Central London turned violent Saturday as a small group of protesters rioted following the peaceful rally.

March 26, 2011 Category: Sovereign Debt

Mr. Boehner vs. The Tea Party

Speaker of the House John Boehner has had to contend with a large and contentious Tea Party caucus since taking power. Now, he may soon be out of power.

March 22, 2011 Category: Sovereign Debt

Another Deadline Looms For a Government Shutdown

After the latest budget measure passed by Congress with both parties vowing that they will go no farther, we ask yet again, will there be a government shutdown?

February 28, 2011 Category: Sovereign Debt

A Federal Government Shutdown: Will They or Won’t They?

The ball is currently in the Democrat’s court. That’s the consensus that the House of Representatives and Speaker of the House John Boehner have offered regarding a possible government shutdown.

January 28, 2011 Category: Sovereign Debt

State of the Union: Four Absurd “Solutions” to America’s Debt Crisis

I must admit that as I sat down to watch the State of the Union address last night, I was more hopeful than usual that the President would at least propose a handful of ideas for effectively reducing our budget deficits and our collective national debt.

January 15, 2011 Category: Sovereign Debt

Chinese president: It’s time to dump the dollar

On the eve of a U.S. visit, Chinese President Hu Jintao made the boldest statement yet on the future of the U.S. dollar as a reserve currency, calling the current global monetary exchange system “a product of the past” while promoting his own country’s currency as a replacement.

September 25, 2010 Category: Sovereign Debt

Is the Dow Jones Going to 2,000? An Interview with Robert Prechter

This Week’s Topic: Does Elliott Wave Predict a Deflationary Depression or Hyperinflation? Is the Dow Jones Going to 2,000? Listen to the discussion with Jerry Robinson and Robert Prechter.

August 20, 2010 Category: Sovereign Debt

Economic Recovery or Financial Armageddon? – LISTEN NOW!

Follow the Money Weekly radio host Jerry Robinson talks with popular author and financial commentator, Michael J. Panzner regarding the most pressing economic issues. The interview includes Panzner’s outlook on inflation in the U.S., as well as his opinion about precious metals and agriculture.

July 25, 2010 Category: Sovereign Debt

Nancy Pelosi Steps Right Over the Third Rail

While checking the news on Sunday, I ran across this headline on the Drudge Report…

July 14, 2010 Category: Sovereign Debt

Congress to raise retirement age?

In a rare departure from this year’s intense political posturing over the soaring budget deficit, House leaders of both parties recently signaled that they are prepared to tackle a leading long-term liability — Social Security —by raising the retirement age.

July 13, 2010 Category: Sovereign Debt

The 50 most unbelievable facts about the U.S. economy

As we close on another week replete with ugly economic data and the usual bizarro counterintuitive market, here is a summary of the 50 most underreported facts about the state of the US economy, courtesy of the Coto report.

July 12, 2010 Category: Sovereign Debt

Obama’s debt commission warns of fiscal ‘cancer’

The two leaders — former Republican senator Alan Simpson of Wyoming and Erskine Bowles, White House chief of staff under President Bill Clinton– sought to build support for the work of the commission, whose recommendations due later this year are likely to spark a fierce debate in Congress.

July 11, 2010 Category: Sovereign Debt

Number of the Week: Euro Zone Debt Is Coming Due

Throughout the recession and recovery, many European banks have sought to sweep their problems under the carpet in the hopes that they could solve them in a better and more profitable future. Now, though, they’re running out of time.

Category: Sovereign Debt

America: Optimism on hold

A month ago, it all seemed to be going so well. Growth in the US economy was picking up. The financial system was, mainly, functioning. The risk of contagion from Europe had diminished after an unprecedented bail-out from the European Union and the International Monetary Fund. Things were creeping back towards normality.

July 9, 2010 Category: Sovereign Debt

Are Overdue Reports Concealing ObamaCare Impact On Medicare?

Every year, the Annual Report of the Social Security Board of Trustees comes out between mid-April and mid-May. Now it’s July, and there’s no sign of this year’s report. What is the Obama administration hiding?

Category: Sovereign Debt

Federal Budget Deficit Hits $1 Trillion For 1st 9 Months Of FY 2010

The federal budget deficit for the first nine months of the 2010 fiscal year was just over $1 trillion, the Congressional Budget Office reported Wednesday.

July 8, 2010 Category: Sovereign Debt

U.S. marks 3rd-largest, single-day debt increase

The National Debt Clock is shown Monday, Feb. 1, 2010 in New York. President Barack Obama sent Congress a $3.83 trillion budget on Monday that would pour more money into the fight against high unemployment, boost taxes on the wealthy and freeze spending for a wide swath of government programs. The deficit for this year would surge to a record-breaking $1.56 trillion. The Debt Clock is a privately funded estimate of the national debt. (AP Photo/Mark Lennihan)

Category: Sovereign Debt

The 23 Countries Most Likely To Default

July 6, 2010 Category: Sovereign Debt

Niall Ferguson: The US Has 6 Years Before Debt Payments Surpass Defense Spending | Joe Weisenthal | Jul. 6, 2010, 4:51 AM The world’s hottest deficit hawk Niall Ferguson brought his message of fiscal doom & gloom to the Aspen Ideas Festival, where he warned that politicians were lacking urgency over the crisis to come. The Aspen Times reports: And American politicians don’t have a sense of […]

July 5, 2010 Category: Sovereign Debt

Germany focuses on cutting spending

Germany’s cabinet is poised this week to approve a 2011 budget as part of a four-year programme of public spending cuts meant to serve as an example to other European governments without jeopardising the country’s increasingly robust economic recovery.

Category: Sovereign Debt

Dow Repeats Great Depression Pattern: Charts

Dow Repeats Great Depression Pattern: Charts DOW JONES, WALL STREET, GREAT DEPRESSION, TECHNICAL ANALYSIS, MARKETS, STOCKS, DAX, FTSE, FOOTSIE, | 05 Jul 2010 | 05:31 AM ET The Dow Jones Industrial Average is repeating a pattern that appeared just before markets fell during the Great Depression, Daryl Guppy, CEO at, told CNBC Monday. […]

July 1, 2010 Category: Sovereign Debt

Obama and the Fiscal ‘Road to Hell’ – Karl Rove

At last week’s G-20 meeting, President Barack Obama achieved a two-fer. He suffered a significant international defeat, and he increased the chances his party will suffer a major domestic one this fall.
Mr. Obama’s international defeat was self-inflicted. He went to Toronto to press other major nations to do as he has done: Expand government spending, or suffer, in the president’s words, “renewed economic hardship and recession.”

June 28, 2010 Category: Sovereign Debt

G-20 World Leaders Agree to Cutting Deficits in Half by 2013

The wealthiest of the Group of 20 countries said they would halve their government deficits by the year 2013 and “stabilize” their debt loads by 2016, a signal to international markets and domestic political audiences they are taking seriously the need to wean themselves from stimulus spending.

June 25, 2010 Category: Sovereign Debt

Geithner says US can ‘no longer drive global growth’

US Treasury Secretary Timothy Geithner has told the BBC that the world “cannot depend as much on the US as it did in the past”.
He said that other major economies would have to grow more for the global economy to prosper.
He also played down any differences in policy between the US and Europe regarding deficit reduction.
Mr Geithner was speaking in Washington ahead of G8 and G20 meetings this weekend in Toronto.

Category: Sovereign Debt

FOR SALE: Greek Islands

There’s little that shouts “seriously rich” as much as a little island in the sun to call your own. For Sir Richard Branson it is Neckar in the Caribbean, the billionaire Barclay brothers prefer Brecqhou in the Channel Islands, while Aristotle Onassis married Jackie Kennedy on Skorpios, his Greek hideway.