“I seldom become depressed, but when I consider that prosperity is created by ‘peace, easy taxes and a tolerable administration of justice’ I really think the US and other Western governments are doing their very best to impoverish their countries,” said Marc Faber in a thought-provoking two-part article published by The Daily Reckoning.

Hong Kong-based Faber, editor of The Gloom, Boom and Doom Report and Tomorrow’s Gold, pulls no punches in his assessment of the economic policies being pursued by the US administration.

Click here for Faber’s full report.

Source: The Daily Reckoning (Part 1 & Part 2), June 10 & 11, 2009.

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Two ways to deleverage the economy The Daily Reckoning

Rising Treasury yields could trip up recovery MoneyMorning

Japan green shoots look doubtful Naked Capitalism

What does a President’s party have to do with the economy? Freakonomics

Banks allowed to pay back TARP, though TARP flawed Global Econ Analysis

Peter Schiff on The Daily Show [video] YouTube

Is the US headed for a jobless recovery? MoneyMorning

The worlds next strategic asset Daily Reckoning

Supreme Court clear Chrysler deal WSJ

Airline industry: a lose-lose business model The Smart Profits Report ...

The big daddy of underground investors, Jim Rogers, says the best way to play this downturn is to focus on commodities and agriculture ETFs (hat tip The Daily Crux). The primary logic behind this play is simple to understand.

The global population is peaking and is consuming more food than it’s producing. This will make food scarcer and cause it to rise in price.

But there are more subtle reasons for investing in commodities right now. Rogers says that although stocks may touch crazy valuations in the near term, they may be in worthless currencies – a vista Notes readers will be familiar with. This from a recent interview with Rogers in the Economic Times:

Central banks all over the world have printed huge amounts of money, and the real economy is not strong enough for all this money to be absorbed… so, it’s going into stocks and real assets such as commodities. It’s a

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William Murphy of GATA (Gold Anti-Trust Action Committee) explains how the #8216;Cartel#8217; suppresses the price of gold The Daily Bell The editors of the Daily Bell are pleased to present this comprehensive and exclusive interview conducted by Scott Smith with William Murphy of the Gold Anti-Trust Action Committee. Introduction: Bill Murphy grew up in Glen Ridge, New Jersey [...]div class="feedflare" a href="http://feeds2.feedburner.com/~ff/YourFinancialFuture?a=JPQWF6R0ae0:IZ5fyR89dRU:yIl2AUoC8zA"img src="http://feeds2.feedburner.com/~ff/YourFinancialFuture?d=yIl2AUoC8zA" border="0"/img/a a href="http://feeds2.feedburner.com/~ff/YourFinancialFuture?a=JPQWF6R0ae0:IZ5fyR89dRU:F7zBnMyn0Lo"img src="http://feeds2.feedburner.com/~ff/YourFinancialFuture?i=JPQWF6R0ae0:IZ5fyR89dRU:F7zBnMyn0Lo" border="0"/img/a a href="http://feeds2.feedburner.com/~ff/YourFinancialFuture?a=JPQWF6R0ae0:IZ5fyR89dRU:7Q72WNTAKBA"img src="http://feeds2.feedburner.com/~ff/YourFinancialFuture?d=7Q72WNTAKBA" border="0"/img/a a href="http://feeds2.feedburner.com/~ff/YourFinancialFuture?a=JPQWF6R0ae0:IZ5fyR89dRU:V_sGLiPBpWU"img src="http://feeds2.feedburner.com/~ff/YourFinancialFuture?i=JPQWF6R0ae0:IZ5fyR89dRU:V_sGLiPBpWU" border="0"/img/a a href="http://feeds2.feedburner.com/~ff/YourFinancialFuture?a=JPQWF6R0ae0:IZ5fyR89dRU:qj6IDK7rITs"img src="http://feeds2.feedburner.com/~ff/YourFinancialFuture?d=qj6IDK7rITs" border="0"/img/a a href="http://feeds2.feedburner.com/~ff/YourFinancialFuture?a=JPQWF6R0ae0:IZ5fyR89dRU:l6gmwiTKsz0"img src="http://feeds2.feedburner.com/~ff/YourFinancialFuture?d=l6gmwiTKsz0" border="0"/img/a a href="http://feeds2.feedburner.com/~ff/YourFinancialFuture?a=JPQWF6R0ae0:IZ5fyR89dRU:gIN9vFwOqvQ"img src="http://feeds2.feedburner.com/~ff/YourFinancialFuture?i=JPQWF6R0ae0:IZ5fyR89dRU:gIN9vFwOqvQ" border="0"/img/a /div

Euro goes back and forth over 1.43…Eurozone unemployment rises to 9.2%…Australia’s GDP surprises! Is it protectionism? And Now… Today’s Pfennig!

Good day… And a Wonderful Wednesday to you! I’m draggin’ the line today, as I was helping my oldest son, Andrew, with things in his brand, spankin’ new house, last night. Congrats to Andrew, for finding a great bargain, with a low, fixed, interest rate!

OK… Whew! What a day in the currencies yesterday! Another day, and another day of wild swings.. Volatility is the name of the game these days… Watching, for instance, the euro trade down to 1.4220, and then up to 1.4320 and not just on a one-way ticket! Oh No! this is a bounce here a bounce there… But just like it was going from 1.41 to 1.42, it took a few times over the 1.42 figure before it finally stuck, and headed to 1.43… All the other

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·         Why there’s a lot more pain to come in the US housing market  T2 Partners

·         Speculative bets against the dollar highest since July Mish’s Global Economic Trend Analysis

·         Tim Geithner still can’t sell his house AP

·         Another reason to hate Goldman Daily Beast

·         The quagmire ahead at GM NYT

·         An economic recovery is wishful thinking Telegraph

·         If Obama had Carter’s courage WSJ

·         The fiat currency doomsday machine The Daily Reckoning

·         Getting more depressing all the time New World Economics

·         How toxic assets

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We keep having bad dreams about all the phony money central banks are creating to ‘fix’ the economy. This is not a figure of speech. We are actually having nightmares about this. We wake up in cold sweats.

The thing that bothers us most is the supposed solution to the problem – more easy money – is also the intrinsic cause. Governments around the world want to “reinflate” the economy. But we know there’s a fine line between “reinflation” and “inflation.” Hence our uneasy sleep.

Will’s father, Bill, has made a quick tally of the funny money entering the system. “The US Federal Reserve,” he writes in The Daily Reckoning, “has been authorized to “print” $1.75 trillion worth of new money in order to buy Treasury bonds. The Bank of England has its own program – worth £75 billion, so far. Even Switzerland has been printing money – so

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Bill Bonner believes America is in irreversible decline. We think he’s probably right. The following extract from The Daily Reckoning sums up the scale of the challenges facing the US.

After the Berlin Wall came down… America had no enemies worthy of the name. She had a monopoly franchise on the world’s money - the dollar was the undisputed queen of the planet’s reserves. And she had a monopoly on military power too - the undisputed king of the hill, with a Pentagon budget nearly as large as all other nations’ military spending put together.

But nature abhors a vacuum and detests a monopoly. Lacking a suitable challenger, America had to become her own worst enemy. Lacking a rival who could destroy her, she had to destroy herself.

And so, when Americans went to the polls in November of 2000, they elected a president who was up

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John Stepek at Money Morning notes that Neils C. Jensen, in The Absolute Return Letter, reports that “using IMF statistics drawn from previous banking crises…the 12 most industrialised countries (including the US, UK and Japan) could need to issue a total of $33 trillion in debt to cover the costs of the crisis. And that’s not even a worst-case scenario – that’s based on the average rise in public debt in the three years following a banking crisis.”

From this, he calculates that $33 trillion is equal to “about a third of total global savings,” which is one hell of a lot of money, which is more than my wife can spend in a whole weekend.

Of course, this brings us to “Why You Should Be Worried About The Bond Market” by Dominic Frisby at Money Week, and instead of going over that old stuff about how bond prices

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Mantra Venture Group Ltd. announced they will be featured in upcoming Daily Newsletters, Daily Blogs, and Message Boards. QualityStocks has over 750,000 subscribers to The Daily Stock Newsletter, which is a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters and puts it all into one Free Daily Newsletter Report.

Mantra Venture Group Ltd. is focused on becoming a world leader in the development of commercially viable, sustainable technologies by minimizing the impact of human activity on our climate, environment and health. The company aims to bridge the gap between innovation and investment by identifying and incubating clean tech innovations and renewable energy solutions.

Mantra is dedicated to developing and commercializing technologies that support a greener economy, with a key focus on meeting the needs of the present without compromising the future. The company is currently focused on two core

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