This Friday, CrushTheStreet.com will have a brand new documentary for all of its members. Our prior release was a major success and we are looking forward to presenting this video to you that will debunk the powers of the public unions and will fire up Americans to peacefully fight back against them. Public unions are a major handicap to this nation that enables a small group to demand more regardless if they deserve it or if it’s even in the taxpayer’s budget. This will be a must see and we are anticipating its release. Our hope is that this documentary gets to as many people as possible so that the silent majority won’t be so silent anymore!!!
We’re still here…are you stocking up?
The world as we know it did not violently end this weekend with massive earthquakes and destruction, but we at CrushTheStreet.com did take time this weekend to prepare for currency demise by accumulating more silver at its current discounted price. We hope all our members are doing what they can to protect their savings and invest in real value before it’s too late and hyperinflation becomes a reality. Those that have been storing metals for a significant amount of time have seen serious appreciation in their investments.
Europe’s Debt Crisis
Not only is the U.S. under extreme economic turmoil, but so is much of the world. Recent news included the IMF agreeing to bailout Portugal with 26 billion euros (36.8 billion USD) in a joint effort to solve the region’s debt crisis. The IMF actually following the European Union who endorsed a 78 billion euro combined package (110 billion USD). Of course, this idea of printing and loaning money is supposed to get economies back on track, artificial stimulus is not what will truly drive a fundamentally sound economy. Fitch has downgraded Greece’s rating to a B+, this is considered to be four steps below investment grade. The cost to bailout Greece from defaulting climbed to a record. Fitch has also downgraded Belgium’s rating outlook to negative from stable. It’s more negative news for Europe, indication of an even more dire situation than previously expected for most conventional thinkers. Europe’s government debt is worsening and is giving global citizens an uneasy feeling that the fiat currencies of the world are not to be trusted.
Matt McCormick, a money manager at Cincinnati-based Bahl & Gaynor Inc. which oversees $3.6 billion, stated that “there is a perception that there won’t be a quick fix for Europe. Anyway you want to cut it, people will see a de facto default. In the U.S., both consumers and companies have been hit by higher energy costs.”
In the states we saw the largest U.S. apparel chain get slammed with under-performing news. The Gap sank 17 percent for its worst slide in nine years after slashing its full-year earnings forecast because of higher costs. This is evidence that the stimulus is wearing off and we at CrushTheStreet.com are very curious to see what the Fed will unveil and what their next move will be. Rumors of higher interest rates are being discussed, but we believe some other form of stimulus will be on the way, whatever it might be called. Just remember to discern the conventional wisdom and not to believe everything that is stated from the powers that be. Who knows, with summer coming up and fuel costs rising, the government might be compelled to stimulate us all to use what’s left of our vacation time and credit limits to go somewhere we would have never planned on going on our own free will.
Currently, we have another Ron Paul interview featured on our front-page where he continues to pound and beat down conventional Keynesian economics and advocates for a free economy that will begin to resemble something close to our constitution. Monopoly businesses including banking, healthcare, agriculture, telecommunications, defense, energy, and more are all factors that are suppressing the free market and suffocating capitalism according to Dr. Ron Paul.
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“I am a pessimist because of intelligence, but an optimist because of will” -Antonio Gramsci
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