Category: The Consumption Trap

September 16, 2011 Category: The Consumption Trap

Gloom and Doom: Consumer Sentiment Plunges to 31-Year Low

Consumer sentiment inched up in early September but Americans remained gloomy about the future with their expectations falling to the lowest level since 1980, a survey released on Friday showed.

July 5, 2011 Category: The Consumption Trap

New Government Study: ‘Difficult Choices’ Ahead for Retirees

After years of falling for the consumption trap, many aging boomers are now realizing that their dream of an early retirement is just that… a dream.

June 27, 2011 Category: The Consumption Trap

Americans Spend at Weakest Pace in 20 Months

Editor’s Note: There is more dreary news coming from an economic report released today by the Associated Press. Consumer spending is at its weakest pace in 20 months, unemployment is up and the stock market was down last week. We expect more bad news to come out as the month closes and the Fed’s QE2 program comes to an end.

May 23, 2011 Category: The Consumption Trap

The Day I Woke Up From the Consumption Trap

In today’s piece, I recall the moment that I realized the difference between consumers and producers.

May 13, 2011 Category: The Consumption Trap

The Mad Scramble for Iraq’s Oil Reserves

What the mainstream media never told you about the Iraq war…

May 12, 2011 Category: The Consumption Trap

How America’s Petrodollar System Influenced the 2003 Iraq War

One of the more sensitive, and therefore veiled, aspects of the petrodollar system is how it has impacted America’s relations with the Middle East. In life, everything boils down to incentives. If we are hoping to grasp how the world around us works, we must understand that behind every decision lies an incentive. Let’s see what role the power of incentives plays in the petrodollar system when it comes to American foreign policy in the Middle East.

May 11, 2011 Category: The Consumption Trap

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!

March 31, 2011 Category: The Consumption Trap

Fundamental Changes Coming to Unemployment Next Year

With federal extended unemployment benefits coming to an end this year, some states are getting creative about moving people off the public dole.

March 26, 2011 Category: The Consumption Trap

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 24, 2011 Category: The Consumption Trap

Former Union Official Threatens “Economic Terrorism”

by Eric Hammer | FTMDaily Contributing Writer TEL AVIV, Mar 24 – In a move that some right wing bloggers are referring to as “economic terrorism,” a former president of the SEIU (Service Employees International Union), Stephen Lerner, gave a talk at Pace University recently where he proposed a plan to destabilize certain Wall Street […]

January 22, 2011 Category: The Consumption Trap

This Week’s Financial Strategy – Recognizing the Dangers of Debt

As we start the new year it has been exciting to see how many people are taking advantage of the Christian Financial Advisors Network.  I have talked with many people around the country who do not have a financial advisor or would like a second opinion on the advice they are currently getting.

January 20, 2011 Category: The Consumption Trap

The World Economic Forum Calls for More Global Debt Slavery

How will the creation of more “debt” help our debt-ridden global economy? It will not. However, it will directly benefit global financial institutions and the banking community… and that is what matters most these days. The more money they can lend, the more interest they can earn.

December 3, 2010 Category: The Consumption Trap

How to Grow Your Wealth and Pay Less in Taxes

Tom is a CPA, real estate investor, and the founder and CEO of Provision Wealth Strategists. According to Tom, taxes are one of the most powerful tools for building wealth.

November 3, 2010 Category: The Consumption Trap

Federal Reserve Announces Massive New Money Printing Campaign: Read The Fed Statement Here

“Information received since the Federal Open Market Committee met in September confirms that the pace of recovery in output and employment continues to be slow. Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.

August 25, 2010 Category: The Consumption Trap

Getting Ready For A Dollar Collapse? (Wall Street Journal)

Could the Federal Reserve’s decision to restart its quantitative easing program trigger a dollar collapse?

August 20, 2010 Category: The Consumption Trap

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 16, 2010 Category: The Consumption Trap

Competing currency being accepted across Mid-Michigan

Right now, you can buy a meal or visit a chiropractor without using actual U.S. legal tender. They sound like real money and look like real money. But you can’t take them to the bank because they’re not made at a government mint. They’re made at private mints.

July 14, 2010 Category: The Consumption Trap

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.

Category: The Consumption Trap

Trade Deficit Gets Even Worse

In May, the trade deficit expanded to $42.27 billion from $40.32 billion in April. Relative to a year ago, the trade deficit is up 70.0%, but May of a year ago marked the low point in the trade deficit after world trade collapsed following the 2008 financial meltdown. The May trade deficit was also significantly worse than the $39.5 billion that was expected.

July 13, 2010 Category: The Consumption Trap

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: The Consumption Trap

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.

Category: The Consumption Trap

G20 looks to Beijing to drive global growth

The G20 appears to be placing a large bet on China’s policymakers. At their summit last month, one developed country after another, bar the US, said they would cut fiscal deficits.

July 11, 2010 Category: The Consumption Trap

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 8, 2010 Category: The Consumption Trap

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: The Consumption Trap

Shared sacrifice will be the new economic order

The laser-like focus on the global financial crisis means investors are back in contingency planning mode while the tools to fend off fiscal Armageddon are again being sharpened by governments and policy makers around the world. But, at times like these, it is important to understand where the real economic power resides, and that is with the people on Main Street.

Category: The Consumption Trap

Federal Reserve Surprise! "We may have to print more money" to spur "recovery"

Federal Reserve officials, increasingly concerned over signs the economic recovery is faltering, are considering new steps to bolster growth. With Congress tied in political knots over whether to take further action to boost the economy, Fed leaders are weighing modest steps that could offer more support for economic activity at a time when their target for short-term interest rates is already near zero.

July 6, 2010 Category: The Consumption Trap

Niall Ferguson: The US Has 6 Years Before Debt Payments Surpass Defense Spending

Businessinsider.com | 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: The Consumption Trap

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, CNBC.com | 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 Guppytraders.com, told CNBC Monday. […]

June 28, 2010 Category: The Consumption Trap

Consumer spending, incomes edged up in May

Americans spent a little more in May but not enough to speed along the economic recovery.
Consumer spending rose 0.2 percent last month after no change in April, the Commerce Department said Monday. Incomes rose for the sixth time in seven months, boosting household finances and potentially providing fuel for greater future spending.

June 24, 2010 Category: The Consumption Trap

New home sales plunge to lowest level on record

Sales collapsed a record 33 percent to an annual pace of 300,000 last month from April, less than the median estimate of economists surveyed by Bloomberg News and the fewest in data going back to 1963, figures from the Commerce Department showed today in Washington. Demand in prior months was revised down.

June 22, 2010 Category: The Consumption Trap

Bank failure is 83rd in ’10; pace more than double last year’s

The 83 closures so far this year is more than double the pace set in all of 2009, which was itself a brisk year for shutdowns. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks’ losses mount on loans made for commercial property and development.

June 21, 2010 Category: The Consumption Trap

China to Overtake U.S. as World’s Top Manufacturer

The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

June 18, 2010 Category: The Consumption Trap

Greenspan Says U.S. May Soon Reach Borrowing Limit

By Jacob Greber June 18 (Bloomberg) — Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a “tectonic shift” in fiscal policy to contain borrowing. “Perceptions of a large U.S. borrowing capacity are misleading,” and current long-term bond yields are masking America’s debt […]

June 17, 2010 Category: The Consumption Trap

Over 90 Banks Miss Their Bailout Payments

More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.

June 16, 2010 Category: The Consumption Trap

Treasury Dept: China’s US govt debt holdings hit 2010 high

China’s holdings of US debt climbed to the highest level this year, the US Treasury said Tuesday even as Beijing stepped up attacks on the United States for its burgeoning debt.

Category: The Consumption Trap

Nightmare vision for Europe as EU chief warns ‘democracy could disappear’ in Greece, Spain and Portugal

Democracy could ‘collapse’ in Greece, Spain and Portugal unless urgent action is taken to tackle the debt crisis, the head of the European Commission has warned.

June 14, 2010 Category: The Consumption Trap

Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case

Fannie and Freddie, now 80 percent owned by U.S. taxpayers, already have drawn $145 billion from an unlimited line of government credit granted to ensure that home buyers can get loans while the private housing-finance industry is moribund.

Category: The Consumption Trap

Obama Requests Another $50 Billion in State and Local Aid

Concern over the nation’s mounting debt could snarl the passage of President Barack Obama’s proposal to provide more aid to state and local governments hit by the economic downturn.

June 9, 2010 Category: The Consumption Trap

OPEC: 2010 demand picture uncertain

OPEC on Wednesday slightly revised up its forecast for world economic growth but left 2010 oil demand largely unchanged as Europe’s debt crisis, an oversupply of crude in the market and a potential cooling in China’s growth pointed to “economic signs that are not rosy.”

June 3, 2010 Category: The Consumption Trap

U.S. National Debt Tops $13 Trillion Mark

The federal government is now $13 trillion in the red, the Treasury Department reported Wednesday, marking the first time the government has sunk that far into debt and putting a sharp point on the spending debate on Capitol Hill.