Good News! Education is Information is falling to Free! You can now get a College Degree in Two Years and a Good Education is now available online! [more]
If you are feeling bullish or confused about the future, you should take The Crash Course. I did and I just re-took it again, yesterday, cause I LOVE getting Smarter! (Hat Tip to JGus, Tasty and/or Statsgeek, who found the website.) [more]
The most amazing / shocking thing about America, to foreigners, who visit the US, is...drum roll....Common, worldly Fools know this.... anyone who leaves the country for a lengthy period knows, upon return the most shocking this is...How fat Americans are!I found the movie King Corn to be shockingly profound. I used to work on a farm and I did not know half of this stuff. Buy or rent this movie you will be glad you did.
This is a good basic seven minute overview and worth your time
Video: Historian Niall Ferguson ruminates on the world's most important rivalry. [more]
A great story and story teller here, the video is worth your time. [more]
Faber gives details to CNBC [more]
I was wondering yesterday, why I still managed to have 308 groupies, when I have been neglecting Fooldom after they locked my account for a month during the market rally. Then portefeuille, has a good post today hiden behind his traditional "..." subject line. Apparently, I am still #1, #3 to my surprise. portefeuille (99.99) wrote: You may be more familiar with the names on this list:
the "top underperfom players": [more]
NOTE: I breached the hyper-inflation discussion to 5 college+++ educated peers aged 32-50 last week and they were beyond clueless about the possibility. One new guy mentioned that I was speaking "doom and gloom". I looked at him like he was a child. I said we are past that, the dollars purchasing power has been cut in half, real estate has dropped 40% over all, the US market has been cut in half and employment is going to 10-20% and oil is back to $70 barrel. That is not doom and gloom that is reality and it is just a massive economic contraction, a severe recession at best, a depression, likely and possibly hyper-inflation.
I explained Marc Faber and Jim Rogers seemed to think hyper-inflation was in the future. Faber said 100% certainty, the US will have hyper-inflation. I had explained this to the oldest and senior guy two years ago (before I became Top Fool, via abitarePERFECT) what was coming. So he let the other know I was feeding them this before it happened. All these people at work gave me grief about it, two years ago now some ask question and seek advice, but I don't have any except...stockpile. Have some physical assets in case there is a systemic crisis. Yes, you can own stocks, but have the shares delivered. Stocks will outperform currency in hyperinflation, I prefer commodity producers, with in a commute to your residence> I like local commodity producers more then the BRIC liars, IMO, my views may change. [more]
Slycapital has the story Rep. Mark Kirk (R-IL): I Told China Not To Believe U.S. Budget Numbers
Slycapital beat me to this: [more]
The Big Picture has the story. [more]
He is back....make sure you watch the ending Goldbugs....(sorry if this is a re-post) [more]
Can you believe it...Ron Paul's economic advisor Peter Schiff is on Daily Show. [more]
Can you imagine what a craven, b-mlicking =ss-goblin you’d have to be to get a job working for the Wall Street Journal, not mention up front that you used to be a Goldman, Sachs managing director, and then write a lengthy article calling your former boss a “national hero” — in the middle of a sweeping financial crisis, one in which half the world is in a panic and the unemployment rate just hit a 25-year high? Behavior like this, you usually don’t see it outside prison trusties who spend their evenings shining the guards’ boots. I can’t even think of a political press secretary who would sink that low. Hank Paulson, a hero? Are you f-cking kidding us? [more]
If you are an adult and an investor, IMO you should has an opinion on Peak Oil Theory. POT has been around since the 1970s. I do believe there is some truth to the Peak Oil Theory. [more]
MarketBottom has one of the best posts this month: The Great Crash Not Over, Stocks Bear Market Rally Built on Sand.
Good time for some humor, The Onion provides: [more]
George Washington blog spot has the story:
How is the Fed responding to:
(1) a bill in Congress with 190 co-sponsors to audit the Fed
(2) a new law giving the GAO some power to examine the Fed's actions and
(3) calls by many to abolish the Fed altogether?
A promise of 100% openness and full disclosure to Congress and the American people?
An end to behind-the-scenes shenanigans?
An end to the whole scam of private bankers "creating" credit and bilking the taxpayers out of trillions in interest scam?
Of course not!
Instead, the Fed is . . .launching a new p.r. campaign to show everyone how wonderful Ben and the boys really are.
As Bloomberg notes:
The Federal Reserve intends to hire a veteran lobbyist as it seeks to counter skepticism in Congress about the central bank’s growing power over the U.S. financial system, people familiar with the matter said.
Linda Robertson ... headed the Washington lobbying office of Enron Corp... Robertson [also] served under Treasury Secretaries Lawrence Summers, Robert Rubin and Lloyd Bentsen...
“People have been asking whether the Fed is capable of getting its job done right,” said Lynn Turner, a former chief accountant at the Securities and Exchange Commission. “Hiring a former lobbyist from Enron will surely make one wonder.”
Vox Day calls the next investment bubble. [more]
There is a lesson here, let me know what you think it is....
He Fought The Law And The Law Lost - Watch more Funny Videos
gary-weiss.com asks the obvious question:
What 'Advice' Will Artie Levitt Give Goldman Sachs?
I've been scratching my head today --- and I don't advise it, as it causes a sore -- trying to figure out the kind of "advice" that Goldman Sachs is going to get from its new "advisor," the overrated former chairman of the SEC, Arthur Levitt.
Why would anyone want "advice" from an Arthur Levitt? [more]
Slycapital has the story: [more]
Last week, Barack Obama declared that the U.S. was out of money. Today, General Motors is expected to file for bankruptcy, which is an ominous sign in a land where the financial health of the automotive giant has long been considered a proxy for the financial health of the nation. And California looks increasingly likely to go bankrupt in the near future. And yet, in a nation without money, Bloomberg has reported that the Federal Reserve has loaned out 7.8 trillion dollars without telling anyone where it has gone.
The American people don't know. Congress doesn't know. No one seems to know; the video of the exchange between Rep. Alan Grayson of the House Subcommittee on Oversight and Investigations and the inspector general of the Federal Reserve Board of Governors is more darkly comedic than anything the Daily Show has shown in years. [more]