From

puffaddering Revenue-Hungry States Are Raising Taxes on Their Wealthiest Residents http://tinyurl.com/klxqf2

“In April New York socked millionaires with a 31% tax hike–raising the tax rate on income over $500,000 from 6.85% to 8.97%. (It also added a 7.85% rate for income over $300,000 for a couple).”

From

NBCNews More signs recession may be ending: http://tinyurl.com/l93rtr

“Some of recent green lights include: a rise in demand for big-ticket items like major appliances, a decline in applications for unemployment benefits and a housing market that is no longer in free-fall.”

“The data lend weight to the growing notion, supported by more than 90 percent of economists in a recent survey, that the deepest recession since the 1930s may be drawing to a close.”

From

rightblogs Bloomberg; Investor Predicts “Hyperinflation” http://tinyurl.com/nzokeh

“The U.S. economy will enter “hyperinflation” approaching the levels in Zimbabwe because the Federal Reserve will be reluctant to raise interest rates, investor Marc Faber said.” “Prices may increase at rates “close to” Zimbabwe’s gains, Faber said in an interview with Bloomberg Television in Hong Kong. Zimbabwe’s inflation rate reached 231 million percent in July, the last annual rate published by the statistics office.”

Homeowners Put Off by Surge in Mortgage Rates http://bit.ly/4EDwO5 #obc1 #gov #cash2 #usnews

“The sudden spike in mortgage rates this week could derail the fragile improvements that were under way in the housing market, as homeowners and first-time buyers returned to the market to take advantage of mortgage rates that had dropped as low as four and a half percent.”From

NewsWorldNow Geithner’s China trip comes at difficult time (AP) http://bit.ly/D6HpO

“Mired in a brutal recession, the United States needs Beijing to buy more American goods, allow its currency rise and make other moves to narrow an enormous trade gap. The U.S. also needs China‘s help to confront any military threat from North Korea.” From

FinanceNewsRT House Prices On Track to Fall Another 10%-15% http://tinyurl.com/pj4ory

“Prices are still dropping at nearly 19% year over year, and the market is on track to drop at least 40% from the peak and probably more (it’s down almost 30% now).”

Experts say the worst is over.  Experts say the worst is yet to come.  There are no experts left folks.

Ivo Fisic

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