Matthew R. found a link to a great video that has brief interviews with some cave dwellers in Idaho [1].
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The newspaper headlines are sounding like something out of my novel. Randy F. sent us this: Panic engulfs global stock markets [2]. And then Cheryl (our Economic Editor) sent us this mountain of news and commentary: Investors Expect Market Volatility As Global Credit Woes Persist [3] — Analysis: More Banks To Fail Next Year Despite Bailout [4] — Euro Crisis Deepens: Officials Vow To Save Banks [5] — Euro Unity Collapses: Every Country For Itself [6] — $700 Billion Printing Of Bailout Monopoly Money: Hedge Your Wealth [7] — Credit Chaos Next? The Mother Of All Bank Runs [8] — Fear Grips Stock Markets As Economies Tip Into Recession [9] — Asia Stocks, US Futures Drop As Europe Forced To Help Banks [10] — Yen Unbeatable As Credit Seizure Kills Carry Trade [11] — Panicked Global Markets Reel; Dow Slumps Below 10,000 [12] (“There is all-out panic,” said ING senior strategist Adrian van Tiggelen.”) — Veteran Wall Street Adviser Gives Advice For Surviving Crisis [13] — Fed Sees States, Companies As Next Crisis Points [14] — Hank Paulson Has One Month Left To Get Banks Lending Again [15] — London Plunges As Banks Pump Billions Into Markets [16] — Euro And Pound Dive As Banks Falter [17] — Iceland Sinking As Bank Rescues Evaporate [18] (Trading in Icelandic Banks Halted) — Savers Frozen Out As IceSave Website Collapses [19] — Asian, Euro Markets Dive On Fears Crisis Is Spreading [20] — Prices Of 16 Basic Food Items Rocket In 3Q [21] — Bolling: Nowhere To Run [22] (” …now is not the time to take chances.) — Tent Cities Rising Up Across America [23] — ‘Hoarding’ Is Out [24] (The Mogambo Guru) — Settlement Day Approaches For Derivatives [25] — Overnight Commercial Paper Rates Advance As Bailouts Spread Globally [26] — Fed Doubles Cash Sales To $900bn, Plans More Steps To Unlock Market [27] — Deflation Threats Mount As Commodities Tumble By Most In Half-Century [28] — Bush Predicts Restoring Confidence Will ‘Take A While [29]‘ — Bailout Bill Will Do Nothing For The Real Economy [30] — Stock Market Investing Safety Over 5yr and 10yr? [31] “) Meanwhile, in addition to the congressionally-funded TARP bailout, the Fed is pumping liquidity like there is no tomorrow, promising $900 billion in TAF lending: U.S. urges global action on credit crisis [32]. And even the perennial bulls are sounding bearish: Jim Cramer: Time to get out of the stock market [33]. Cramer has also declared this a worldwide crash [34]. Lastly, it is quite indicative that spot gold jumped $35+ per ounce [35]. That in itself is not too unusual, but this is happened at the same time that other commodities were dropping, and while the US dollar was gaining against the Euro and British Pound. Here, we can see that gold truly is the island of safety in the economic maelstrom.
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As of October 1st, journalist Glenn Beck [36] reported brisk sales of guns and home gun vaults in the US. Given the recent economic news, I wouldn’t doubt it. Speaking of Glenn Beck, reader F.A.J. said that we should take a look at Beck’s analysis of what caused the liquidity crisis, in a letter to his family members: What happened? [37]
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Frequent contributor Michael Z. Williamson [38] sent us the link to this newspaper article from Atlanta, Georgia: Many stories surround gas shortage [39]. Human nature, in action
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Cheryl also sen us this one, on Monday evening: Germany takes hot seat as Europe falls into the abyss [40] It begins with this ominous tone: “We face extreme danger. Unless there is immediate intervention on every front by all the major powers acting in concert, we risk a disintegration of global finance within days. Nobody will be spared, unless they own gold bars.”