Economics and Investing:

I’m sure that you saw the many screaming headlines on Thursday, the global markets are melting down, and the pillars of the EU are crumbling. There were two notable oddities amidst Thursday’s panic for those of us that hedge with precious metals: 1.) Spot silver saw a $5 per ounce selloff. This big dip of 12% in one day represents a great opportunity to either convert some of your cash into silver, or ratio trade out of gold into silver. The silver-to-gold ratio now stands at (48.2-to-1.) In just a few years the ratio will likely be 30-to-1, or less. 2.) The price of platinum is now $50+ below the price of gold. With these two aberrations in mind, it is presently wise to swap out of gold and into platinum or silver. You should always take advantage of brief windows of opportunity when markets are aberrant. Do not hesitate!

IMF a Little More Worried About China. (Thanks to K.A.F. for the link.)

Recession’s second act would be worse than the first

And John R. sent these cheery news links:

Welcome To The Collapse Of 2011 (Karl Denninger)

The Fed Disappointed… The Great Collapse Is Here (Graham Summers)
Debt crisis: live—Markets tumble after the Fed warns of downside risks, World Bank chief Robert Zoellick says he is losing confidence in recovery and European central bank report questions whether euro can survive. – UK Telegraph
Morgan Stanley’s Exposure to French Banks is 60% Greater Than its Market Cap… And More Than Half its Book Value (Tyler Durden)

Items from The Economatrix:

Dow Drops 500 Points on Fears of Another Recession

Mixed Impact On Consumers From Fed’s “Twist”

Fewer People Applied For Unemployment Benefits

Fed Moves To Lower Interest Rates

World is on the Verge of a Devastating New Slump: IMF

The Redline:  A Tale Of Collapse (Fiction)

Depressed as a Nation?  80% of Americans Believe We are Already in a Recession

The End of the Phony Express; Or, The USPS Goes Postal on Our Economy

Rash of Bank Downgrades Signals Return to “Danger Zone”