Since the end of the Second World War two countries have been referred to as “superpowers”: The United States and Soviet Russia. Since the Soviet Union broke apart, America was said to be the “lone superpower.”
The following is an excerpt from a discussion we published about a month back on our subscriber site. In light of events of last weekend, I suggest it’s an especially timely topic right about now. The Fed/Treasury/Administration may believe they have won another credit cycle reconciliation battle with the Fannie and Freddie bailout (our children and grandchildren will be overjoyed), but what about the much bigger picture war?
By Chris Puplava – Oh, what a tangled mess we have! The bailout of Fannie Mae and Freddie Mac is the latest attempt to bring stability to the housing and financial markets. But the question remains, is it enough?
“As soon as you think you’ve got the key to the stock market, they change the lock,” lamented Joe Granville, who is mostly remembered for his bearish calls on the US stock market during the 1970’s, 1980’s, and the 1990’s.
Fannie and Freddie were finally nationalized on Sunday, September 7, 2008 – a date that may very well live in infamy. Shareholders of the mortgage behemoth mortgage giants have been effectively wiped out.
Alaska Gov. Sarah Palin's vice presidential candidacy has caused something of a sensation on the political right. Try and find a figure that compares with Palin and the only one that comes to mind is British Prime Minister Margaret Thatcher.
Last week, the Commerce Department announced that U.S. gross domestic product for the second quarter rose by a higher-than-expected 3.3%. But was the number as good as many bulls made out? One way to answer that question is to look at what other economic indicators were doing during earlier periods when GDP was roughly similar to what it was in the latest quarter.
Despite all of the negative fundamentals facing the U.S. economy, the unthinkable has happened: the dollar has staged a significant rally. Since bottoming in July the USD has risen 9.6% to over 78 after grinding out a bottom since May.
