Authored by Lance Roberts via RealInvestmentAdvice.com,
As I noted last Friday, the recently approved budget was an anathema to any fiscally conservative policy. As the Committee for a Responsible Federal Budget stated:
Every quarter, the Fed's Flow of Funds report discloses - among many other things - the total U.S. household net worth, and every quarter for the past two years this number has steadily gone up, hitting fresh all time highs with every new release, most recently $96.2 trillion, to widespread cheers from both the financial press and the public, as well as the administration.
A major Nor'easter threatens to shut down travel due to heavy snow and strong winds from Washington, D.C., to New York City and Boston early this week, as weather forecasters on Sunday put the U.S. East Coast on a blizzard watch, warning some 50 million people of potential snowfall from 12 to 18 inches, coupled with wind blasts in some areas from Monday night into Wednesday. New York City issued a snow alert for Monday night, preparing its fleet of snow plows to deal with the fallout.
Submitted by John Rubino via DollarCollapse.com,
One of the defining traits of the past few years’ “recovery” has been the torrent of money flowing from big banks to favored clients, and from there into trophy properties like high-end real estate, superyachts, and fine art. This might be the first financial bubble to completely bypass the 99%.
A reader made my morning by sending me a story with that above clip embedded within.