Before It's News | Popular Money
Gold is a Crap Investment—Unless…
Be prepared for the next great transfer of wealth. Buy physical silver and storable food. gonzalolira.blogspot.com / By Gonzalo Lira / MONDAY, JULY 15, 2013
About gold as an investment, Barry Ritholz said it best:
This is not to say gold is not affected by Macro issues. But that is very different than saying Gld has a fundamental value, an intrinsic worth.
Treasury: Debt Has Been Exactly $16,699,396,000,000.00 for 56 Days
According to the Daily Treasury Statement for July 12, which the U.S. Treasury released this afternoon, the federal debt that is currently subject to a legal limit of $16,699,421,095,673.60 has stood at exactly $16,699,396,000,000.00 for 56 straight days.That means that for 56 straight days the federal debt has remained approximately $25 million below the legal limit .... http://cnsnews.com
A Glimpse Of Things To Come: KKR Suspends First Data's 401(k), Replaces Cash Bonuses With Stock
Submitted by Tyler Durden on 07/15/2013 Zero Hedge With the untapering due any minute, and cost of debt set to plunge to even lower record levels, one thing is certain: the private equity industry is about to be bathed with even more costless credit and, with a portfolio of companies already accounting for 8% of US GDP, is about to accelerate its "going private" take over of America's corporations. Of course, in the pursuit of the almighty cashflow driven IRR, all is fair in love and LBO wars, however, one group of people who may not like the outcome are America's workers especially following tonight's glimpse of the "cost-cutting" process that is about to be unleashed by the Fed-funded corner office on workers everywhere. A few hours ago First Data Corp., a KKR portfolio company, announced that it will suspend 401(k) contributions to employees and replace cash bonuses with stock "as part of its new chief executive's strategy to return the credit-card processor to profitability." The move was announced to all 24,000 employees of the Atlanta company in an internal memo Monday. How big is the impact of this stunning move?
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