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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
Curated by Nick Laight
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Fed swears QE2 policy did not create record global food prices « YourDaddy's Politics

Fed swears QE2 policy did not create record global food prices « YourDaddy's Politics | Countdown to Financial Armageddon | Scoop.it
Ben Bernanke, the chairman of the US Federal Reserve, has dismissed the idea that the central bank’s policies are to blame for the rise in global food prices to a record high that helped trigger political unrest in Egypt.
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'Misery' Levels Hit 28-Year-High in US

The latest “Misery Index” shows that Americans are more miserable than they’ve been in the past 28 years, economically speaking.
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Fiscal Manipulation - Commodities & Futures

Fiscal Manipulation - Commodities & Futures | Countdown to Financial Armageddon | Scoop.it
To Gold Stock Trades Editor Jeb Handwerger, there is an intriguing purpose in the relationship between the national mindset and the intended purposes of economic establishment. "Are we being programmed for QE3?
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California: The Greece of the US Financial Crisis

California: The Greece of the US Financial Crisis | Countdown to Financial Armageddon | Scoop.it
Oh my, oh my…this is getting interesting…

“How zombie consumers menace the world economy,” is a headline from Yale Professor Stephen Roach. Mr. Roach is misusing the word ‘zombie,’ but he’s coming closer to understanding what is really going on.

That is, he’s beginning to see things our way!

Read more: California: The Greece of the US Financial Crisis http://dailyreckoning.com/california-the-greece-of-the-us-financial-crisis/#ixzz1PrGwmUI2
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Debt crisis may overwhelm Europe's economic recovery, warns IMF

Debt crisis may overwhelm Europe's economic recovery, warns IMF | Countdown to Financial Armageddon | Scoop.it
THE debt crisis in the euro zone's periphery is threatening to shatter the region's economic recovery and may cause a global financial disruption if not stopped, the International Monetary Fund has warned.
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Ron Paul: Our Inflation Problem Will Be Much Worse Than 1970s ...

Ron Paul: Our Inflation Problem Will Be Much Worse Than 1970s ... | Countdown to Financial Armageddon | Scoop.it
Housing prices are up just 1.2% year over year, wages rose just 0.3% in May, while apparel prices have climbed just 1%, leading many experts to believe, despite high food and energy prices, that inflation is in check.
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Greek debt tsunami could reach US shores

Greek debt tsunami could reach US shores | Countdown to Financial Armageddon | Scoop.it
It could be the default heard around the world. If Greece can no longer make payments on its sovereign debt, the financial shockwaves may rock your local bank.
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No-nonsense Guide to National Debt

A series of articles confronting the UK's debt crisis and its implications for our country's future...
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The Likelihood of a US Default

The Likelihood of a US Default | Countdown to Financial Armageddon | Scoop.it
The likelihood of the US defaulting on its debt obligations is discussed in relation to the current Greek debt crisis in this essay by Bill Bonner.
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GoldSilver.com - Prepare for QE to infinity!!, The Road to a Gold Standard; Jim Willie, CB

GoldSilver.com - Prepare for QE to infinity!!, The Road to a Gold Standard; Jim Willie, CB | Countdown to Financial Armageddon | Scoop.it
My forecast is for both rabid price inflation and US Treasury debt default, the former in spades at this moment and the latter in due time.
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Rich world economy prospects darken: Reuters poll

Rich world economy prospects darken: Reuters poll | Countdown to Financial Armageddon | Scoop.it
LONDON (Reuters) - The rich-world's economic prospects have darkened slightly, a Reuters poll of economists showed, with new signs of a slowdown in the United States compounding fears about the poor fiscal (Rich world economy prospects darken:...
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Meltup

The beginning of a U.S. currency crisis and hyperinflation.
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Gold Bullion Prices Rise, US Debt Problem "Far Exceeds Europe's" as "High Noon" Approaches | Gold News

Gold Bullion Prices Rise, US Debt Problem "Far Exceeds Europe's" as "High Noon" Approaches | Gold News | Countdown to Financial Armageddon | Scoop.it
US sovereign debt will be put on "rating watch negative" if Congress does not agree to raise the $14.3 trillion federal debt ceiling by August 2, Andrew Colquhoun, head of Asia-Pacific sovereign ratings at ratings agency Fitch warned Tuesday.

Not raising the debt ceiling would mean "lights out" for the US economy, Treasury secretary Tim Geithner warned earlier this month, since the US could not guarantee to meet its obligations on existing debt.
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Greek Default Would Spell 'Havoc' for Banks a Year After Bailout

June 20 (Bloomberg) -- A year after European officials bailed out Greece, investors say the region's banks haven't raised sufficient capital or cut loans enough to withstand the contagion that may follow a default....
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US: Economy To Be Downgraded This Week

US: Economy To Be Downgraded This Week | Countdown to Financial Armageddon | Scoop.it
A big week for the US economy, or rather a week when the current gloomy sentiment about the outlook for the US economy will be further tested.
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Debt: America's Bi-Partisan Blame Game

Debt: America's Bi-Partisan Blame Game | Countdown to Financial Armageddon | Scoop.it
It’s a bad situation because China lends us more money than anybody else on the planet. Japan, India and South Korea are right behind them. But China has sort of taken the lead in the discussion of, or the critique of, US policy because they hold some $2.3 trillion in reserves and they own another trillion in US Treasury bonds.

Read more: Debt: America's Bi-Partisan Blame Game http://dailyreckoning.com/debt-americas-bi-partisan-blame-game/#ixzz1PrGohxJR
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The Depression You Better Hope We Have…

The Depression You Better Hope We Have… | Countdown to Financial Armageddon | Scoop.it
We’re often asked why hasn’t the U.S. suffered hyper-inflation… what with the trillions of dollars printed by the U.S. Federal Reserve.

The answer is quite simple. With a gold standard, a nation owed money (creditor nation) by another nation (debtor nation) can demand payment in gold.

But without a gold standard, the creditor nation can only receive paper or electronic money… money created by the flick of a switch. That’s when inflation troubles begin.
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Rare Earth Prices Double in Two Weeks as China Seeks to Increase Control

Rare Earth Prices Double in Two Weeks as China Seeks to Increase Control | Countdown to Financial Armageddon | Scoop.it
Prices of the rare earths used in lasers and plasma televisions more than doubled in the past two weeks as China tightens control of mining, production and exports, according to market researcher Industrial Minerals.
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Return Of The Dreaded Misery Index - Investors.com

Return Of The Dreaded Misery Index - Investors.com | Countdown to Financial Armageddon | Scoop.it
Economy: As if the picture weren't bleak enough, here's one more data point to worry about — the Misery Index is on the rise.
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$9 Trillion Gone Missing and the Federal Reserve Can't Explain

$9 Trillion Gone Missing and the Federal Reserve Can't Explain If you fast forward to the 3:45 mark you will see how she can’t even answer where the $9,000,000,000,000 went. SMH Feb. 9 (Bloomberg) —...
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Endgame: The End of the Debt SuperCycle and How It Changes Everything

Endgame: The End of the Debt SuperCycle and How It Changes Everything | Countdown to Financial Armageddon | Scoop.it
Greece isn't the only country drowning in debt. The Debt Supercycle—when the easily managed, decades-long growth of debt results in a massive sovereign debt and credit crisis—is affecting developed countries around the world, including the United States. For these countries, there are only two options, and neither is good—restructure the debt or reduce it through austerity measures. Endgame details the Debt Supercycle and the sovereign debt crisis, and shows that, while there are no good choices, the worst choice would be to ignore the deleveraging resulting from the credit crisis. The book:
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China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills | CNSnews.com

Is this the beginning of the great pull out?
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Food Crisis - Which 77 Items Will Disappear First In A Food Crisis?

Food Crisis - Which 77 Items Will Disappear First In A Food Crisis? | Countdown to Financial Armageddon | Scoop.it
Extremely valuable information in the event of a food crisis. Reveals the exact items that vanish from store shelves when a disaster occurs.
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Europe warned of financial chaos over Greek debt crisis | World news | The Guardian

Europe warned of financial chaos over Greek debt crisis | World news | The Guardian | Countdown to Financial Armageddon | Scoop.it
Greek prime minister fails to form unity government as police battle rioters in Athens and shares tumble over default fears (RT @New_Economics: Europe warned of financial chaos over Greek debt crisis http://t.co/VmLWA17...)...
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