Day: August 6, 2009

Hard Times at Here–Are You Ready?

The hard economic times that I–and many others–warned you about are now here. We are clearly now in the opening stages of a full-scale depression that will last a decade or longer. This news article (sent to me by SurvivalBlog reader Eric C.) .about an unemployed couple in Indiana is a microcosm of what we will be witnessing for the next decade. Take a few minutes to read it. Our pampered society is in for a rude wakening. Now, at the risk of sounding unkind and judgmental, the term “white trash” comes to mind. Note that this man in Indiana …


Letter Re: Advice on Storing Precious Metals–Are Safe Deposit Boxes Safe?

Good Morning. I have been diversifying my investments, with a strong emphasis on gold and pre-1965 [silver] coins. Currently, the coins are stored in a bank safe deposit box. Can you tell me, in the event of a “bank holiday” will safe deposit boxes be available? In other words, I understand that they won’t allow me to withdraw cash from my account (my understanding of the term, bank holiday). But, would the bank allow customers access to the safe deposit boxes to withdraw whatever might be stored in the vault? Thanks for all you do. Keep up the good work. …



Economics and Investing:

Susan Z. recommended this piece by Bob Chapman: And All the Kings’ Horses and All the King’s Men… GG mentioned Mish Shedlock’s latest piece: Weekly Unemployment Claims Portend Disaster Also from GG: Federal tax revenues plummeting. I can foresee the reinstitution of pre-Kennedy-era marginal tax rates (more than 50%) in the next few years. This is just one more good reason to invest in tangibles. They’ll heavily tax interest income, but you don’t pay taxes on tangibles until you sell them. Several items from frequent content contributor Karen H.: Cathay Pacific to Park Six Passenger Planes After 27% Sales Slump …


Odds ‘n Sods:

10 Things You Need to Know to Live on the Streets    o o o From Cheryl: Russian Subs Patrolling Off East Coast    o o o Outcry Causes Obama Administration To Change Language on Cash for Clunkers Website    o o o Hawaiian K. mentioned a piece by Jack Spirko, posted over at LRC: Modern Survivalism Tenet Number Five; Food stored is an exceptional investment. You simply can’t lose by storing additional food that you use on a regular basis


Jim’s Quote of the Day:

“Naturally the advance planning that we did on this thing belongs on the credit side of the ledger. So also does the venture into night flying, although in the final analysis the only real effect it had on this operation was to hold us in the area for one more night. Had we found the U-505 at night, there would have been no possibility of capture—that boarding idea was improbable enough in broad daylight, it was impossible at night. This whole operation is an example of the fact that a military commander controls events only up to a certain point. …