Fed: Foreign Central Banks’ Selling U.S. Government Debt

Humor: Government Bonds - Foreign central banks’ U.S. debt holdings fall: Fed (Reuters, June 27, 2013): Foreign central banks’ overall holdings of U.S. marketable securities at the Federal Reserve fell in the latest week, data from the U.S. central bank showed on Thursday. The Fed said its holdings of U.S. securities kept for overseas central [...] continue reading world news

Foxconn CEO Terry Gou: “We Have Over 1 Million Workers. In The Future We Will Add 1 Million Robotic Workers. Our [Human] Workers Will Then Become Technicians And Engineers.”

- Foxconn to speed up ‘robot army’ deployment; 20,000 robots already in its factories (ITworld, June 26, 2013): Manufacturing giant Foxconn Technology Group is on track with its goal to a create a “million robot army”, and already has 20,000 robotic machines in its factories, said the company’s CEO Terry Gou on Wednesday. Workers’ wages [...] continue reading world news

France Jobseekers Hit Another All-Time Record

- France Jobseekers Hit Another All-Time Record (ZeroHedge, June 26, 2013): Despite the jump in French PMI (though still in contractionary region), the number of French Jobseekers rose once again (up 11.5% year-over-year) to a new all-time record. As the nation struggles with near Depression-era activity, it seems the green shoots that Draghi’s jawboning once [...] continue reading world news

Gold Plummets To 34-Month Lows, Drops Below Its Average Cash Cost

- Gold Plummets to 34-Month Lows as Investors Flee (Wall Street Journal, June 26, 2013): Prices are down about 25% this year, with the bulk of the losses occurring since April. On Wednesday, prices fell below $1,250 a troy ounce for the first time in nearly three years. - Gold Drops to 34-Month Low as [...] continue reading world news

Mid Year Digest – Where Are We Now? – A World View

- Mid Year Digest (Kunstler, June 24, 2013): by James Howard Kunstler Wondering why the money world got its knickers in a twist last week? The answer is simple: the global economy is breaking apart and its constituent major players are doing face-plants on the downhill slope of a no-longer-cheap-oil way of life. Let’s look [...] continue reading world news

76% Of Americans Are Living Paycheck-To-Paycheck (CNNMoney)

- 76% of Americans Are Living Paycheck-to-Paycheck (CNNMoney, June 24, 2013): Roughly three-quarters of Americans are living paycheck-to-paycheck, with little to no emergency savings, according to a survey released by Bankrate.com Monday. Fewer than one in four Americans have enough money in their savings account to cover at least six months of expenses, enough to [...] continue reading world news

The Bank Of International Settlements Warns The Monetary Kool-Aid Party Is Over

- The Bank Of International Settlements Warns The Monetary Kool-Aid Party Is Over (ZeroHedge, June 23, 2013): When a month ago the Central Banks’ Central Bank, aka the Bank of International Settlements (or BIS) in Basel where the MIT central-planning braintrust meets every few months to decide the fate of the world, warned that the [...] continue reading world news