Japan's trade deficit hits $8.6 billion in April - its highest trade deficit in 35 years!
Japan reports its trade deficit widened to a larger-than-expected 879.9 billion yen or $8.6 billion in April as its weakening currency accentuated surging import costs. This could be the beginning of hard times ahead for the Japanese as their currency continues to crumble.
With evidence that the IRS has been abusing its power and targeting Conservative groups and individuals after Obama took power, Paul Ryan takes it to the acting commissioner. It’s nice to see the tax man in hot water for once.
When you have a tax collection agency bullying groups based on political belief, you know your country is corrupt. America is a nation that has lost its way as its government intervenes in all aspect of its citizens’ lives.
The US debt ceiling and fiscal cliff are making their way back into the headlines as negotiations between the Republicans and Democrats are set to resume this month. Flashing back to January, Rand Paul explains why the Democrats high tax policy to shrink the deficit will likely win out in the end and the damages it will have on the US economy will be severe. He uses Britain as an example for what will happen to the US.
Peter Schiff discusses the weakness, even Ben Bernanke can't hide, behind the US economy in his latest video blog. Schiff believes there has never been more reasons to buy and invest in gold, yet he's never seen such negative sentiment towards gold.
Schiff concludes that this pessimism and selling has mainly been coming from speculators and that their mass exodus could signal a bottom.
Schiff clarifies that what Japan has had for the past few decades, is price stability, which used to be a positive thing. With Japan's new Prime Minister, Shinzo Abe targeting higher than 2% inflation, he is leaving nothing to chance by doubling the monetary base.
Schiff warns that Japan should be careful what it wishes for, as significant inflation, could be just around the corner.
San Francisco's TechShop and how it's producing world class products and inventions is examined in a "Bloomberg Brink" special. This short documentary explores how cutting edge technology and high-end machinery are becoming increasingly accessible.
In India, gold's cultural value has always remained high, outweighing it's economic value. While the global economy slows and some countries like Cyprus consider selling bullion reserves to keep afloat, India has been importing the commodity in tonnes.
Gold & silver prices continue to underperform. Peter Hug of Kitco Metals discusses Asian physical demand, the RBA rate cut, Thursday's BOE meeting and the ongoing Syrian-Israeli conflict.
The 2-week ruckus for physical gold in Asia ended Monday as markets open in Tokyo, which was met with continued ETF redemptions in the US. In fact, medium-sized investors are viewing metal yields as "dead assets" and opting to dividend-yielding stocks.
On May 1st, Peter Schiff discussed why America continues to pretend it can have everything through cheap monetary policies and easy money. The only way to bring on a legitimate recovery is through sound money and higher interest rates.
Legendary congressman Ron Paul talks to Bloomberg about inflation and gold’s recent price decline. Paul quickly discredits the Federal Reserve’s monetary policy as damaging and he is not letting gold’s sharp decline influence his belief that it is going much higher in value.
Goldman Sachs, which has been advising Apple on how to deal with its multibillion-dollar cash pile, and Deutsche Bank, Germany's biggest lender, are in the lead to help the iPhone maker sell bonds for the first time in 17 years.