Here is the current value of gold in US dollars: Kaching!
Here is a graphic of all the gold in the world.
Two seemingly unrelated articles here, here and here. Note, for many, lowering exposure to the US markets (stock and bond) is partially driven by concern about government finances. The California post by professor Mead is indicative of problems in the pipeline that may become evident on the federal level in the near future…
Sometimes I talk with students, other professors, neighbors and friends and I think some smart people don’t want to deal with reality. If you want a reality-based news round up, please note the following from today’s news stories:
3. “Fed Virtually Funding the Entire US Deficit” – Things that just can’t go on, don’t.
4. “Europe’s crisis will be followed by a more devastating one, likely beginning in Japan.” – Interesting analysis, even if the wheels come off at the end.
5. Coming Crisis to Make Japan’s Lost Decade Look Like a Cake Walk – “Forget mere economic stagnation: the danger now is of a full-scale financial collapse fueled by a crushing debt burden.” – It is all about the demographics, money and math…
6. “A massive 13% collapse in durable goods, the biggest since January 2009; a $20 billion miss to annualized Q2 GDP estimates, and well below the lowest estimate, 60+ weeks of constant upward BLS revisions to initial claims ‘data’…” – A view from Zero Hedge
7. “Obamacare hasn’t saved us from rising health care inflation.” – Continuing rise in US healthcare costs, now institutionalized.
But, if you don’t want to know about the above reality, I have a pretty picture for you:
“Tim Geithner, the US Treasury secretary, acted to shield Citigroup’s bondholders and management from accountability at the height of the financial crisis while taxpayers were left on the hook, a former US bank regulator has alleged,” according to the Financial Times.
His name is Wolfgang Schaeuble and he is not happy.
You may ask, “I can clearly see that, but why is Wolfgang Schaeuble not happy?”
I will give you a hint: Wolfgang also happens to be the German Finance Minister.
He is watching and he sees things that he does not like.
Today, the rating agency Moody’s announced that it expects to cut US rating without deal to lower debt/GDP ratio. Also today, Wolfgang gave a speech:
“In a speech to the Bundestag lower house of parliament to open a debate on the 2013 German budget, Schaeuble said worries about U.S. debt were a burden for the global economy, hitting back at Washington which has criticized Europe for failing to get a grip on its own debt crisis.”
I agree with Wolfgang; even though he looks scary, he does understand the math. I just wish that the USA had some scary people that understand math at the Department of the Treasury. Instead, they have someone not scary who understands only this much of the math…
TOPICS: Business Practices, E-Commerce, Online Job Hunting
SUMMARY: You know that using your smartphone costs money, but did you know it can help you make money? Anyone can earn a little dough on the side using an iPhone and two free apps: EasyShift and Gigwalk. The idea behind the apps work is simple: Companies hire you to do some pretty simple work using your iPhone. You submit the work using these apps and you get paid via your PayPal account.
This article introduces IT students and professionals to two apps that facilitate earning money by completing temporary job assignments.
Reviewed By: Scott Robert Homan, Purdue University