Rick Santelli Fumes Over GDP Negative Growth: ‘We Are Now Europe’

Rick Santelli loses it Wednesday in response shocking report that the economy actually shrunk in the fourth quarter last year.

“We are now Europe,” he declared on CNBC’s Squawk Box.

“Hey Joe,” Santelli said, “when you act like Europe, you get growth rates like Europe, and our discussions with economists sounds like we’re in Europe. They have the same discussions constantly.”

“They’re always doing the right thing,” he continued. “They’re always thinking

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Everything You Ever Wanted To Know About The Debt Ceiling

fiscal cliff

What is the debt ceiling exactly? It’s a cap set by Congress on the amount of money the federal government may borrow. The limit applies to debt owed to the public (i.e. anyone who buys U.S. bonds) plus debt that the Treasury owes to government trust funds such as those for Social Security and Medicare.

Why does it need to be raised? The debt ceiling needs to be raised periodically because both parties in Congress have approved tax cuts and spending increases over the years, knowing full well they will

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US Dollar Deflation in 2013

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US Dollar Deflation 1913 to 2005

Citi currency guru Steven Englander has a new note out titled: No coin + temporary debt ceiling extension + sequester = US Dollar negative. In it he notes that the rejection of the trillion dollar coin idea to avert the debt ceiling is not alone a market moving event, but that the hard language taken by the White House that the choices boil down to clean lift or default raises the odds of a debt ceiling breach. His take:

So it is possible that we

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Bernanke and the Federal Reserve 12.12.2012

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From Goldcore:

On Dec 12, 2012 the Federal Reserve took the bold, some would say reckless step, of linking its monetary policy to unemployment, creating concerns that the U.S. dollar will be debased even more in the coming months.

The US Federal Reserve will keep interest rates at close to zero until unemployment falls below 6.5%. This is a historic and very radical change to monetary policy. It is the first time a large central bank has ever tied its interest rate policy directly to one facet of the economy – unemployment.

The Fed said that

US Economy, Wealth Building Strategies

Buy Gold Into the Fiscal Cliff?

Gold begins to glitter. After breaking below $1,700, gold stages a strong comeback. And is there more pain in store for crude? A look at the trades, with CNBC’s Melissa Lee and the Money In Motion traders.

Review: What is the Fiscal Cliff?

The “fiscal cliff” is dominating the news right now. Federal Reserve chief Ben Bernanke coined the term to describe the potential recession-inducing scenario the U.S. is facing on Jan. 1, 2013, when the Budget Control Act of 2011 is scheduled to go into effect.

What is the fiscal cliff? It’s a more than $600 billion combination of tax

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Why the Fiscal Cliff is Good for Gold (VIDEO)

Would Resolution of Fiscal Cliff Drive Gold Prices Higher?

Midas Fund Portfolio Manager Tom Winmill on the factors that could boost the price of gold.

Why the Fiscal Cliff is Good for Gold

First and foremost, the fiscal cliff creates economic uncertainty. We’re already seeing that: Just the anticipation of the impasse in Washington has caused many businesses to freeze hiring and cut back on investment and expansion. Since time immemorial, gold has been a top safe haven investment during times of uncertainty and fear.

Secondly, if the tax increases and spending cuts occur, the U.S. will fall back into a

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