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The collapse of the Collateralized Debt Obligation (CDO) market underscored the enormous overhang of the larger over-the-counter derivatives contracts market. This is far from over, folks! For example, we have not yet to seen a full-blown Credit Default Swap (CDS) market implosion. I have been warning blog readers about CDS instruments since 2005. And even though our politics are diametrically opposed, I was not surprised to see George Soros recently chime in on the subject. Derivative instruments are essentially unregulated and they measure in the hundreds of trillions of dollars. The counterparty risk is enormous, yet the derivatives market is …
Getting any dairy animals is a very big commitment. However, I believe that they are a valuable part of your livestock preparedness. Even more importantly I believe goats are the best dairy animals for the survivalist. Here are my reasons to recommend goats over cows for a survival situation: 1. A dairy goat is about one fifth the cost of a dairy cow. 2. Five goats can be fed one the same amount it takes to feed one cow. 3. If your your one cow dies you are out of luck. But the odds of losing all your goats is …
Mr. Rawles, I’m new to prepping. But for some time now, when I go to Costco, I pick up peanut butter, a bag of rice, or a bag of beans to toss in the closet. I really like storing wheat, because it seems to have a much longer shelf life, but it is a little harder to find than rice. I figure I’ve probably got about nine months to a year worth of food for myself now. I know that the bugs will get into it eventually, and I’ll throw a bunch out and start over. I’ve been examining rice …
Reader Ben M. mentioned: World Bank sees even worse slump. All the recent talk of a “nascent recovery” is balderdash. China’s Commodity Buying Spree. Well, gosh , if given the choice between dollar-denominated paper assets and buying useful tangibles, which would you choose? Jim B. sent us a link to an essay titled The Coming Economic Collapse, by Graham Summers. “To give you an idea of how big a problem these deficits are, consider that the US government could tax its citizens 100% of their earnings and not have a balanced budget.” From the Dr. Housing Bubble blog: Foreclosure Reality …
The saber-rattling continues. We read: US Raptors Deployed to Japan, and (some crude gray propaganda from North Korea)Nuclear War Is Kim Jong-il’s Game Plan and, US General: North Korea, Iran Joined on Missile Work, and South Korea sends more troops to North Korea border. o o o Glenn Reynolds posted this over at Instapundit: Mark Steyn on William Forstchen’s One Second After. Why worry about an EMP attack? o o o FG. sent this: Rural Michigan counties turn failing paved roads back to gravel. F.G.’s comment: “Don’t swap out that truck for a gas sipping micro car just …
“No one realized how bad the economy was. The projections, in fact, turned out to be worse. But we took the mainstream model as to what we thought — and everyone else thought — the unemployment rate would be.” – Vice President Joseph Biden, June 14, 2009 (Backing away from the BHO Administration’s estimate that “stimulus” funds could “create or save” 3.5 million jobs, instead now promising just 600,000 by the end of the summer.)