Just when we thought the economic headlines couldn’t get much worse, Mark P. for spotting this: Downturn accelerates as it circles the globe: Economies worse off than analysts predicted just weeks ago [1]. And Paul A. sent this grim deflationary prediction from Mish Shedlock: Extreme Leverage In Reverse Portends Global Systemic Crash [2]. Whether the incipient crash is deflationary, or inflationary, or a whipsaw of sharp deflation followed by sharp inflation (which is my personal prediction), you should get you beans, bullets, and Band-Aids together and stand ready!
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Mike W. sent us this “must read” piece from NASA on Severe Solar Storms, Power Grids, and the Web of Interdependent Systems [3]
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Trent flagged this: Citigroup, Bank of America May Look ‘Nationalized’. [4] And Cheryl sent us all these items: “Bad Bank,” Bad News [5] — How Big is Britain’s Toxic Debt? [6] — Britain on Brink of Depression [7] — Lights Go Out Across Britain as Recession Hits Home [8] — The Fed: Life After Zero [9] — Shipping Rates Hit Zero as Trade Sinks [10] — China Prepares for Year of the Slump [11] — Britain May Seek IMF Bailout [12] — Fears Confirmed: Recession Fuels Crime Surge [13] — Iceland Government on Verge of Collapse [14] — Jobless Claims Surge, Housing Starts Tumble [15] — Code Red: Economy in Collapse [16] — JP Morgan Chief Says Worst of the Crisis Still to Come [17] — Special Forces Rescue Icelandic PM from Furious Credit Crunch Rioters [18] — Stores Closing in 2009 [19]
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For the “It Comes as No Surprise to Us” Department, SurvivalBlog reader Florida Guy forwarded this article: Bad Times Spur a Flight to Jobs Viewed as Safe [20]. (FWIW, I’ve been cautioning about the need for recession-proof income streams [21] for years! It is not too late to launch a home-based business. And it just might turn out to be your ticket to making a good living out in the hinterboonies.)