The news is that Harrisburg has filed for bankruptcy. While technically true that they have filed for bankruptcy, this may be shot down before it all begins. The funniest part of this at the moment is that all the judges for this are in Tampa for a conference. So hold your breath.
Remember, bankruptcy . . . → Read More: To bankrupt or not to bankrupt
As can be easily seen from this chart (source), the money stock as measured by the Federal Reserve has grown by approximately 6.67% in the last five months! Since real GDP is projected to grow by only 1% (and will likely be revised downwards ex post), this means prices are going to rise . . . → Read More: This Does Not Bode Well
According to Edward Karr, CEO of RAMPartners, the band is tuning up and the guests are just starting to arrive. Instead of selling before the party really gets going, he advises keeping a “decent percentage” of cash to take advantage of opportunities to buy both physical gold and junior mining stocks. His real . . . → Read More: Edward Karr Sees Opportunities in Gold: Under the Mattress and in the Ground
The Mortgage Bankers’ Association purchase index will be released at 7:00 AM EDT, providing an update on the quantity of new mortgages and refinancings closed in the last week.
At 8:30 AM EDT, the Consumer Price Index report for September will be released. The consensus is that CPI increased by 0.3% last month, and . . . → Read More: Economic Events on October 19, 2011