Its 33 day from the Iowa Caucus and barring another unexpected resurrection of another GOP candidate, the GOP nomination will come down to Mitt Romney and Newt Gingrich. “From the beginning, the race for the GOP nomination has been between Mitt Romney and I’m not Mitt Romney,” according to Scott Rasmussen, president of Rasmussen Reports. “Currently, Gingrich is the leading
Read moreItaly defaults on its debts. Most major Italian bank collapses. Recession turns to Depression in the Euro zone. Sovereign defaults begin and bank failures ripple across the Continent. Saddled with bad loans to the Euro zone nations and lenders in Europe, the four major American banks will begin to hemorrhage cash. Credit freezes in the United States and as a result,
Read moreIn his latest investor letter (via Gurufocus), Kyle Bass lays out his case that a wave of hard defaults is coming. His basic argument: The world is just saddled with too much debt. Throughout history, he says, total debt-to-GDP only ever breached 200% when nations were spending on war. Today we’re at 310%. Says Bass: “There is no savior large
Read moreThe euro is on the chopping block, and the dollar UUP – PowerShares DB U.S. Dollar Index Bullish Fund (NYSEARCA:UUP) isn’t far behind. ShadowStats.com’s editor John Williams’ just published a gloomy outlook for the U.S. due to the demise of the dollar and the emergence of hyperinflation that could be a reality as soon as 2014, due to the ongoing
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WILLIAM STICKEVERS 