Category: Quotes

“I have been unemployed in the past. I knew I could either stay bitter and angry, which I was, about losing my job, or I could do something about it. It is a whole new world so I have had to quickly get up to speed.I have joined networks , I am using social networking , I even bought hits for my blog to point people to my CV. After all of that, I thought, ‘why not, I’ll put myself up for sale!” he added.” said an UK unemployed father of three who put himself up for sale for 20, 000 Pounds

To give you a hint of how bad it is in Europe today, the most recent retail sales out of Netherlands showed a decline of 8.7% year-over-year in April.²³ In Spain, retail sales fell 9.8% year-on-year in April, which was 6% greater than the revised drop of 3.8% in March.²⁴ Declines of this magnitude are not normal occurrences and signal a significant shift in spending within those countries. We fear this is a sign of things to come within the broader Eurozone, which will only serve to complicate an already dire situation that much more.

 

The G6 central banks are out of conventional tools to solve this financial crisis. With interest rates at zero, and the thought of further stimulus rendered politically unpalatable for the time being, we cannot see any positive solutions to this problem other than debt repudiation. We continue to note the contrast between the reporting companies who by law cannot lie about their fiscal realities, versus the central planners who admit that they MUST lie to preserve calm and control. We’ll leave it to you to decide whose version of the truth you want to believe.-wrote Eric Sprott to his investors

 “In a bull market, who needs ’em? And in a bear market, they’ll kill ya.” – commented Roy Neuberger on equity analysts

“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” -Napoleon Bonaparte, 1815