Financial Sense Newshour Big Picture Archive

In this week’s Big Picture segment, Jim looks at three different topics. In “Tax Shock”, Jim discusses how the “Fiscal Cliff” is really a “tax cliff”, as it’s not about spending limitations, just tax increases. Spending is still going up, and the government is simply hiding it from the public. In “The Cost of Turkey Day” Jim looks at the cost of putting on a turkey dinner for Thanksgiving, and how it compares to prior years. In “The Great Exodus”, Jim foresees a migration by businesses and higher-income taxpayers out of the blue states, as the tax and regulatory burdens continue to get worse. Jim also answers your Q-Calls in this segment.

Jim looks at three important Big Picture topics in this segment. In the first, “Down Payment and the Grand Bargain in 2013”, Jim discusses how the politicians will cut a deal to avoid falling off the “fiscal cliff” next year. Whether it will solve any problems is another matter. In the next topic, “The Debt Super Cycle- the Final Chapter”, Jim discusses how government debt will be resolved voluntarily through a program like Simpson-Bowles, or involuntarily by the markets, whereby the US could wind up looking like Greece. In the last topic, “The IEA World Energy Outlook- fact, fiction or hope”, Jim looks the IEA’s claim that the US will become the world’s largest oil producer by 2020. Jim also answers your Q-Calls in this segment.

Jim welcomes famed technician Stan Weinstein back to the program. Stan believes U.S. markets have just entered a bear market and says long, intermediate, and short-term trends have turned negative. Also in this segment, Ryan Puplava has the Market Wrap-up, Erik Townsend discusses the commodities markets, and Jim Puplava gives the Fixed Income Report.