Financial News Update – 05/29/10

CBO: ObamaCare was a total scam

Democrats vote for government pay raises

World Bank cancels remaining Haiti debt (Hat Tip: Jean Stoner)

Kremlin wins first deal for Russian Silicon Valley (US invests $250.000.000) (Hat Tip: Jean Stoner)

Analysis: Moratorium In Gulf Gets Graver (Hat Tip: Jean Stoner)

Bond Giant: Volatile US Stocks to Crash Again

Dow Average Ends Worst May Since 1940


Home Sales Set to Plummet in Phoenix, Las Vegas as Tax Credit Expires

Berkshire confirms Buffett subpoenaed to testify

Wynn Takes on Washington: ‘No one has any idea what’s next’

Credit rating cut deals blow to Spain

Debt Burden

Bankruptcy talk spreads among California muni officials

Hillary: ‘The rich are not paying their fair share’


Dollar Primed for Collapse by End June. Yes, the US Dollar is presently artificially strong. But we are looking at a study of relative weaknesses. All the major fiat currencies are in a race to the bottom. Don’t make the foolish mistake of swapping from one un-back currency into another. Instead, swap into tangibles!

US money supply plunges at 1930s pace as Obama eyes fresh stimulus. The money multiplier effect works in reverse, as credit collapses. But at some point the huge waves of stimulus spending will be financed by monetization, and that will be hugely inflationary. Be ready for a rapid transition from deflation to inflation, possibly as soon as late 2010 or early 2011.

Stocks on Track for Worst May Since 1962.

Home Sales Set to Plummet in Markets Hit Hard by Foreclosures

Three Florida Banks, One Las Vegas Bank and One CA Bank Closed May 28, 2010

Spain Loses its AAA Credit Rating at Fitch Amid Debt Struggles

Double-Dip Fears Over Worldwide Credit Stress

Collapse of Euro Would Open Door to Democracy

Eric Sprott on Financial Farcism

Inflation, Money Supply, GDP, Unemployment and the Dollar

Dysfunctional Markets that Change Every Hour

Slow-Motion Recovery Keeps Unemployment High

Mortgage Rates are Back Near Record Low

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