A 4-day rally gets stopped at the border… Home Prices fall at a -18.12% pace… Alice Rivlin gives her 2-cents…
* Kiwi bond maturities galore next month… And Now… Today’s Pfennig!
A 4-day rally… High Yield demand continues… Home Prices slow to recover… Paulson comes out from under the bus…
With Monday’s surprise announcement, China dropped a bombshell on global currency markets. Action to take: Get out of the U.S. dollar. Now. Right now.
“And with a fiat currency and a demonstrated willingness on the part of Congress, and every other government on the face of the planet, to abide every possible corruption…they can spend and spend and spend, and it will never end until it collapses in a Big Stinking Heap (BSH)!” Mish, writing at globaleconomicanalysis.blogspot.com quotes a guy named Professor Lewis, who says, “I have never been one to believe you can have a true deflation with a fiat currency.”
On August the 8th, Russia declared war on Georgia. By the 9th, it was an all-out bloodbath. Reports show that over 2,000 people have died during that short time and over 100,000 people fled the conflict. As you can see, war is never pretty.