The dip in silver that you’ve been waiting for has arrived [1]. Take advantage of it. Come November, you’ll be patting yourself on the back for your foresight.
Steve G. sent us the latest from Mish Shedlock: As of Friday August 14, 2009, FDIC is Bankrupt [2]. Don’t worry, be happy. Uncle Tim and Uncle Ben have a plan: Just add linen paper and ink!
A hilarious interview with The Mogambo Guru (aka Richard Daughty) [3] was posted by The Daily Bell.
From Heather H.: Mountain of Debt: Social Security crisis looms [4]. Heather’s comment: “Finally, someone had the guts to call Social Security a ‘Ponzi scheme’.”
Federal Reserve Secretly Buying Treasuries at Auctions [5]
Even more in the The Mother of All Bailouts (MOAB [6]): Social Security crunch coming fast [7]. (Thanks to DD for the link.)
Items from The Economatrix:
Stocks Plunge as Investors Worry About Consumer Spending [8]
AP Investigation: California Lawmakers Boost Staff Pay [9] (“What budget crisis?”)
Mike Whitney: The Economy is in Deep, Deep Trouble
Chicago City Government Closed Monday Due to Budget Constraints [10].
Europe and US Still at Risk for Deflation Trap [11]
Lack of Inflation Means No Rise in Social Security Benefits [12]
Consumer Confidence Falls Unexpectedly in August [13] Yikes! The lowest measure of buying confidence in 60 years!
Stocks Drop Around the World on Economy Concerns [14]
Darryl Schoon: Gold and Why Gold Now? [15]
Wave of Foreclosures About to Break US Housing Market Dam [16]