Recession Is Over Update: The root of the crisis over the past couple of years wasn’t recession, but debt, which has spread “like a cancer,” according to Nassim Taleb, professor and author of the bestselling book “The Black Swan,” who is now relieved that public attention has shifted to debt, instead of growth. More at CNBC: http://www.cnbc.com/id/37610064
Read moreRecession is Over Update: Regulators on Friday shut down a Nevada bank, raising the number of U.S. bank failures this year to 83. The 83 closures so far this year is more than double the pace set in all of 2009. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks’ losses mount on loans made for commercial property
Read moreAs posted on my website on May 18, 2010: The stock market is up 68.1 percent since hitting a 12 year low in March last year (though it is still down 22.3 percent from its peak or 14,164.53 in October 2007). The climb has been one of the strongest in history, and according to many Wall Street economist’s heralds a
Read moreFor more predictions, please visit http://www.williamstickevers.com: U.S. Economy: General China , Russia , India , and the commodity bloc in the Middle East will begin to reject thefiat currency of the U.S. Dollar, buying gold and other precious metals on a large scale as U.S. public debt exceeds 70% of GNP and the banking system in the United States continues to deteriorate. (January 4, 2010)
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WILLIAM STICKEVERS 