Juggling Dynamite

Nigel Farage MEP, Leader of the UK Independence Party speaking in the European Parliament, Strasbourg, 12 September 2012 responds to yesterday’s State of the Union address by the President of the European
Commission, José Manuel BarrosoHere is a direct link.

For those interested in seeing the truth about the US budget (and other countries now trying to borrow their way to economic strength) this video is simple and to the point. The fiscal solution will require a writing down of existing debts, a reneging on funding promises to social programs as well as the the financial and military complex, re-writing social contracts, shrinking government and revising the tax structure so that it collects more and wastes less while directing more funds to the nuts and bolts needed to revitalize infrastructure investment for the future.

This is a NON-PARTISAN video produced by an accountant, Hal Mason, retired after 27 years with IBM. He looks at
the budget, its revenues and expenses, and very simply illustrates the problem in just a of couple minutes.Here is a direct link.

As the risk trade rallies with the latest phase of Euro miracle hopes, the US dollar index has weakened in its now typical teeter totter relationship this week, testing longer-term support in the 78-80 range. Here is an updated picture below. With the Euro now back at just under 1.29, it seems euphoria is setting up to be clobbered yet again by the reality of unsustainable sovereign budgets and shrinking revenue in the frenzy of austerity demands. We stay tuned.

Source: Cory Venable, CMT, Venable Park Investment Counsel Inc.