Economics and Investing:

GG sent this: Europe Unemployment Rate Rises to Highest Since 1999

Also from GG; India Exports Fall by Record Amid Global Recession

Wow! Spot silver is pushing $16 per ounce. I stand by my long-term prediction: The Dollar in the dumpster, and silver “sky high.” Note that there will probably be another sell-off during the upcoming Summer Doldrums for the precious metals. It is just about as predictable as the hills turningbrown golden in California each summer. Just look at that dip as another buying opportunity.

Items from The Economatrix:

Peter Schiff: Wall Street Unspun

GM Bankruptcy Watch: Woe to Main Street Bondholders

GM to Sell Hummer to Chinese Company

Getting Out of GM While the Getting is Good

GM Bankruptcy Spells Disaster For Small Suppliers

GM, CitiGroup Removed From Dow Jones Industrial Index (Gee, this ongoing index shuffle sure makes everyone included smell like a rose–when in actuality the “missing” companies smell more like fertilizer.)

Consumer Spending Dips, Savings Rates Surge

Silver Posts Biggest Monthly Gains in 22 Years

To Hell in a Bond Basket

Chapman: Gold To Stand Against Big Devaluations “What we are about to tell you may be the most important information that we have imparted in almost 50 years. something very bad is looming – we don’t know the exact configuration yet, but we think the key is the collapse of the dollar, which will send gold and silver to considerably higher prices. These events could unfold over the next 2 to 4 months. There could be devaluation and default of the US dollar and American debt. You must have at least a 6-month supply of freeze dried and dehydrated foods, a water filer for brackish water, and assault weapons with plenty of ammo and clips. You should put as much of your wealth as you can in gold and silver coins and shares. You should not own any stocks in the stock market except gold and silver shares, you should not own bonds the exception being Canadian government securities, you should not own CDs, cash value life insurance policies and annuities. And, needless to say, except for your home you should be totally out of real estate, residential and commercial because it will remain illiquid for many years to come.”

Peter Schiff Vlog Report 29 May 2009