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Been too busy to stay informed about developments on the financial/economic
scene this week? Here are links to 6 of the “best-of-the-best” articles which have been edited for the sake of clarity and brevity to ensure you a fast and easy read. Enjoy!
By Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds).
1. 2013 Will Not Be A “Happy New Year” For Most Americans
[As the New Year approaches it is becoming more and more imperative that we] find our internal inner joy…[and] maintain our positive perspective…while the external world around us deteriorates thanks (actually that should read “no thanks”) to all those…who caused or enabled the current financial and economic trauma. We must face up to the fact that the current financial path of the United States is unsustainable and will probably not result in a “Happy New Year” for most Americans in 2013. As such, we must do something utterly different. Words: 620
2. Friday Update: U. S. Dollar STILL On the Verge of a Major Decline
Whew! While the U.S. Dollar Index remains weak it continues to trade above its support line of 79.0. On Friday, December 7th, it traded as low as 79.73 compared to a low of 79.57 on both Thursday and Wednesday, closing out the day marginally up to 80.42 vs. the previous day’s close of 80.26. It still is too soon to suggest that it will continue to “strengthen” and should it break to the downside then a much, much lower U.S. Dollar is most likely.
Although our supposed leaders are presumably highly intelligent, educated, and knowledgeable, they act largely “brain-dead” as they lead the United States down an unsustainable path that guarantees eventual catastrophic financial destruction. Do you own enough gold and silver that you would feel safe in a such a financial melt-down? If not, why not? Words: 817
Wall Street has been transformed into a gigantic casino where people are betting on just about anything that you can imagine. This works fine as long as there are not any wild swings in the economy and risk is managed with strict discipline but, as we have seen, there have been times when derivatives have caused massive problems in recent years – the government bailout because of derivatives at AIG; the failure of MF Global because of bad derivatives trades; and the 6 billion dollar loss that JPMorgan Chase recently suffered because of derivatives – [but the next] derivatives panic that comes will destroy global financial markets, and the economic fallout from the financial crash that will happen as a result will be absolutely horrific. [Let me explain my contention.] Words: 1485
5. The USD Is Scraping the Bottom of the Barrel These Days
No matter how you look at it, the U.S. dollar is very weak – very close to its all-time lows. If the value of the dollar says anything about the world’s confidence in the U.S. economy, the message is quite pessimistic. The only good thing to be said is that there is a lot of bad news that is priced into the dollar. It might be tough for things to get much worse. (Words: 1054; Charts: 7)
6. Coming Currency Superstorm Will Be Absolutely Catastrophic for U.S. Economy
What would happen if someday the rest of the world decides to reject the U.S. dollar and that process suddenly reversed and a tsunami of U.S. dollars come flooding back to this country? It is frightening to think about. Just take a moment and think of the worst superstorm that you can possibly imagine, and then replace every drop of rain with a dollar bill. The giant currency superstorm that will eventually hit this nation will be far worse than that.
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