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Asset protection

Russell Warns: China’s Destructive Bear Market May Spread To The U.S. Within 30 Days

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Posted by Richard Russell via King World News

on Friday, 10 July 2015 06:28

King-World-News-Richard-Russell-Chinas-Destructive-Bear-Market-May-Spread-To-The-U.S.-Within-30-Days-1728x800 c90-year-old Richard Russell, warned that China's destructive bear market may spread to the U.S. within 30 days.

"What I am worried about is the strong possibility that China is dealing with a primary bear market. If so, no amount of government interference will turn the tide to bullish. What I am also afraid of is that China’s sickness will be contagious and the US will catch the disease."

....read the article HERE


Asset protection

Coming to a Socialist Country Near You - Market Talk

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Posted by Martin Armstrong - Armstrong Economics

on Wednesday, 08 July 2015 05:08

Greece-PensionerThe Lesson for the World Coming from Greece

"This is just the tip of the iceberg. We are facing terrible times ahead because socialism is completely collapsing.

"The heartbreaking photographs of a 77-year-old retiree Giorgos Chatzifotiadis pensioner showing he has just collapsed on the ground openly in tears driven to despair outside a Greek bank with his savings book and identity card strewn next to him on the ground illustrates the horror the Troika is deliberately trying to inflict upon the Greek population."


Market Talk

"With the sell-off seen in European Equities and commodity based currencies, a lot of the talk was around the US$ as the safe-haven trade. Sterling particularly hit hard today last traded down 0.9% and FTSE -1.3%."


Chicago Looks at 30% Property Tax Increase to Pay Gov’t Pensions

"This is why it appears that real estate should peak out with this turn 2015.75."


Asset protection

Greece? - "The Real Trouble Will Come From China

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Posted by Richard Russell - Dow Theory Letterss

on Tuesday, 07 July 2015 11:39

imagesAs usual in bear markets, people are looking at the wrong thing. I don’t think the Greek situation will bring on trouble. The market doesn’t wait for trouble, it looks ahead – it discounts. So far, the stock market is snoozing through the Greek situation. I’m tired of hearing about Greece. Will it? Won’t it? Maybe? From the market’s standpoint, Greece is a non-event. My thinking is that Greece will exit the euro and the Eurozone. The stock market obviously knows of this possibility, and it is surely discounted already.

I suspect the real trouble will come from China. Chinese stocks are in a bear market (is it a Black Swan?). They’re down over 20%. The government is obviously worried about the falling Chinese market, and is preparing for a huge injection of liquidity. I’m much afraid that the primary trend of the Chinese stock market is bearish. I’m also afraid that the bear market in China is on route to fully express itself. When the planet’s second largest economy and stock market is in trouble, I have to take it seriously.

China has been on a furious building boom, which has pushed its GDP up. China has built trillions of dollars worth of buildings. But the buildings are empty; nobody came to the party. How did China pay for all this? China owns $1.22 trillion of US bonds. It paid for it by selling a portion of its US bonds.

China’s selling of US bonds has pressured the bond market down for the past five months. As bonds decline, interest rates rise. This is the last thing the Fed wants. Rising interest rates are deflationary. What will the Fed’s reaction to deflation and rising rates be? They will fight deflation with inflation, by creating billions more fiat dollars.

The 4 paragraphs above were an excerpt of Richard Russell's Dow Theory Letters. Richard posts daily updates to his subscibers to his newsletter that is published every three weeks. He has been publishing that newsletter continuously since 1958, and with the advent of the internet began his daily updates. Richard is also responsible for a proprietary indicator call the PTI.  click here to subscribe.


Asset protection

Faber Update: 'I Think the Likelihood of Contagion is Very High'

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Posted by Marc Faber via Bloomberg

on Monday, 06 July 2015 08:37

When asked whether we are actually going to see contagion spread further, Faber said: "I think the likelihood of contagion is very high. And I have to say when you have a borrower, you also have a lender. And it's actually, in my view, amazing how the EU kept on pumping money into Greece, partly also to bail out their own banks. And suddenly now the debt is no longer manageable." - read or view the entire article HERE


Faber warns of Colossal Systemic Risk in Markets - discusses his concerns about the markets.


UnknownFaber on Grexit : Greece is an irrelevant country in Global Economy

It’s less than 2 percent of global GDP. Economically it has no impact. However the impact, this is the problem for whole world, is that the global financial system is far too big for the real economy, and so whenGreece defaults, it may threaten some institutions like the International Monetary Fund, the European Central Bank, and the banking system. This is the issue. If such a small country can have such a huge impact on the financial system, it means the financial system is very fragile. That’s the problem in my view,"


Asset protection

Greek Banks Prepare To Raid Deposits To Avert Collapse

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Posted by Financial Times

on Saturday, 04 July 2015 07:40

7cc80b53-8e3b-4e3f-8329-4cf59dcce3f4.imgA Greek bail-in could resemble the rescue plan agreed by Cyprus in 2013, when customers’ funds were seized to shore up the banks, with a haircut imposed on uninsured deposits over €100,000.

It would be implemented as part of a recapitalisation of Greek banks that would be agreed with the country’s creditors — the European Commission, International Monetary Fund and European Central Bank.

....read the whole July 4th article HERE


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