Gerald Celente - on the Greater Depression

Gerald Celente is interviewed on Yahoo Finance TV.....watch here

Appeasing the Bond Gods

By PAUL KRUGMAN: As I look at what passes for responsible economic policy these days, there’s an analogy that keeps passing through my mind. I know it’s over the top, but here it is anyway: the policy elite — central bankers, finance ministers, politicians who pose as defenders of fiscal virtue — are acting like the priests of some ancient cult, demanding that we engage in human sacrifices to appease the anger of invisible gods.

Hey, I told you it was over the top. But bear with me for a minute.

Late last year the conventional wisdom on economic policy took a hard right turn. Even though the world’s major economies had barely begun to recover, even though unemployment remained disastrously high across much of America and Europe, creating jobs was no longer on the agenda. Instead, we were told, governments had to turn all their attention to reducing budget deficits....read on

China's spectacular ascendance begins to reshape the world economy

From the UK Guardian: After three decades of spectacular growth, China passed Japan in the second quarter to become the world's second-largest economy behind the US, according to government figures released on Monday.

The milestone, though anticipated, is the most striking evidence yet of China's ascendance and that the rest of the world will have to reckon with a new economic superpower.

The recognition came early on Monday, when Tokyo said that Japan's economy was valued at about $1.28 trillion in the second quarter, slightly below China's $1.33 trillion. Experts say unseating Japan — and in recent years passing Germany, France and Great Britain — underscores China's growing clout and bolsters forecasts that China will pass the US as the world's biggest economy as early as 2030. America's gross domestic product was about $14 trillion in 2009...read on

UK Government urged to reveal 'true' national debt of £4.8 trillion

From the UK Telegraph: The Institute of Economic Affairs (IEA) has calculated that the national debt is £4.8 trillion once state and public sector pension liabilities are included, or £78,000 for every person in the UK....read on