Hyper Report - 100722

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First...
China Has a Painful Surprise for the Global Economy
China is said to be different; but, don't believe it. China implemented one of the world's most aggressive economic stimulus programs to fight the recession of 2008. Credit growth surged as much 50 percent — an unprecedented peak. Just like Japan in the late 1980's and what is going on in the US right now, China's housing bubble is going to burst. It is only a matter of time. Even now, the Chinese Stock Market is coming to this realization; therefore, be very wary about Chinese economy.

Next...
Bernanke's Economy Comment Batters Market
Benji Bernanke's comment that the economy faced "unusually uncertain" prospects rattled investors. As a result, the DOW lost nearly 110 points. This, among many other sound reasons, is why Jefferson and Jackson did NOT want a national bank. We now have scared investors and businesses alike. Welcome to the Summer of Recovery! It now appears that this and Odrama's continued war on business is bearing fruit for all to enjoy.

Next...
Texas Budget Mess Now as Bad as California's
With a shortfall of 18 billion dollars, or 20 percent of the state spending, my home state of Texas appears to be in big trouble. With the over-spending, over-regulated situation, the state fiscal outlook is on par with that of California. With that said, even though Texas’ budget deficit numbers are very similar to California’s, the Lone Star State is still in a better fiscal position. This is only because Texas currently has better credit ratings and nearly $9 billion banked in the Rainy Day Fund. The days when Texas leaders could mock California—or at least its budget mess—appear to be over.

Next...
Gold Coin Sellers Angered by New Tax Law
It appears yet another bug-a-boo has been found in the Healthcare Legislation. You know, the one that legislators did not read before voting on. Starting Jan. 1, 2012, all goods and services that exceed $600 during a calendar year have to be reported to the IRS using Form 1099. With the rising price of gold, this puts gold transactions into this squarely into this area. Needless to say, most people will begin buying and selling gold external to the US as capital continues to leaves the country before the law goes into effect. Unfortunately for most unsuspecting Americans, this law will not only affect the financial transactions of gold alone. With inflation, many things will be above $600.00.... like for example.... Monthly Rent or Insurance... assuming you have a job and are not living on the street. Although not stated within this article, the IRS did not receive additional funding to process all of these additional 1099 forms; therefore, it does not take a genius to figure out that this is not going to fly for very long. Still... the intent to monitor, and control, all financial transactions, for both rich and poor, is there.

Finally,
Please prepare now for the forthcoming economic, and subsequent social, unrest that will hit the US.

Good Day

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