Hard hitting global and local news
U.S. Mint Runs Out of Smallest American Eagle Gold Coin; Is There a Shortage of Physical Gold? Coordinated Smackdown by Naked Shorts
Summary : The Markit Eurozone PMI® Composite Output Index was unchanged on March’s reading of 46.5 in April, according to the flash estimate.
Political Prediction: Merkel Loses Chancellorship in September as Support for AfD Soars Now that we have an Understanding of German Political Parties let’s consider some scenarios from reader Bernd who lives in Germany about how the election on September 22 plays out.
Read More: China PMI barely Above Contraction; Chinese Stocks Slump as Manufacturing Slows
The Minister of Public Works and Housing of the Government of Andalusia, Elena Cortes Jimenez, advocates a Reduction in Mortgage Debt for All Spanish Families . Here is a Mish-modified synopsis. Elena Cortes Jimenez, Minister of Public Works, claims eviction proceedings lead to further drying of mortgage lending, making it harder for young people to access home ownership
Read the original: Italy Presidential Election Still Deadlocked; Political Posturing in Perspective
In Swiss law, private citizens can put forth any initiative that can gather 100,000 signatures. A campaign by the Swiss People’s Party to ” Save our Swiss Gold ” gathered 106,052 signatures so a vote will be coming up.
Read this article: Spain’s Community Debt Tops €42 Billion as Unpaid Bills Mount; Madrid Worst Offender
Velocity is at a six decade low No signs suggest credit creation is turning more productive Debt Constrains Growth Commodities are down 20% in the last two years By Lacy’s definition, the Fed is "not printing". By mine, the Fed is. Bernanke says one thing on one occasion and humorously denies it the next.
One reader sent a link to a Philly.Com article by Joseph N. DiStefano titled Philly effort to keep well-known troubles quiet wins new attention .