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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.

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

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? An Interview Michael J. Panzner

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…