Portfolio.com reports that “unlimited dollar funding” has now been promised by the G-7 to re-liquify the credit markets on both side of the Atlantic: Flood the Zone [1]. Just as I warned, the MOAB [2] knows no boundaries. The destruction of the dollar via mass inflation now seems inevitable. Get out of your dollar-denominated investments immediately. Shelter your assets in practical tangibles, ASAP! Now, on to more economic news and commentary, courtesy of our stalwart Economic Editor: Manic Monday: Dow Roars Back After Worst Week Ever [3] — Morgan Stanley Gets $9 Billion Lifeline [4] — Sovereign Bancorp In Talks With Spain’s Banco Santander [5] — FRB Press Release: ‘Unlimited Funding’ Measures [6] — Treasury To Invest In Healthy Banks [7] — The Crushing Potential Of Financial Derivatives [8] — Icelandic Shoppers Empty Supermarkets [9] — IMF Warns Markets Could Drop Another 20% [10] — Two Million Britons On The Dole By Christmas [11] — Most US States, Cities Virtually Bankrupt [12] — Two More Banks Closed By Regulators [13] — US Gasoline Price Marks Biggest Drop Ever [14]
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Brandy in Southern California sent us this: Thieves snag catalytic converters in Murrieta parking lots [15]. Brandy’s comment: “This article illustrates that when things get bad, you’ll even have to be careful about where you park your car.”
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Tomorrow is the last day in Safecastle’s 25%-off Mountain House sale [16]. Their freeze dried canned foods have a 30 year shelf life. Get your order in right away!
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Rourke [17] flagged this one: Modern Survivalists Exist Among Us [18]. Note the typical urban elitist spin, that attempts to make prepared individuals look like a fanatical fringe element.
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Mark in Washington reports seeing some very brisk sales at the recent Puyallup gun show (near Seattle). “Mark’s comment: “The ammunition guys were barely able to sit down at all. One gun dealer said he sold 26 on Saturday alone. A very large number of people that I spoke to this weekend were talking about how important is it be better prepared. If I had to put a word to the overall mood of the buyer was fear. I personally heard a number of people talking about the upcoming election and the current economic crisis as reasons for getting out to the show and buying.”