Category: Current Events & Politics

The banks of the world are in a mess, but thankfully they are sorting out their problems. Except that they’re not. In the boom years, banks gave out more and more mortgages to riskier and riskier home owners, with the understanding that if things turned really bad, these mortgages would be terrible loans that would lose a fortune. So when things did turn bad and the home owners could no longer pay for the mortgages, these mortgages bankrupted the banks that gave them out. Except they didn’t. The problem with mortgages for banks is that they don’t know how bad …

Recent news articles about U.S. tax law changes have prompted dozens of SurvivalBlog readers to contact me with their concerns. Some of these e-mails asked me for advice on how to minimize the impact of these tax law changes. First let’s go over the changes in the tax law that have been announced: 1.) The Federal income tax rates are increasing starting with tax year 2010, with the top tax rate jumping to 39.6%. Meanwhile they are reinstituting the death tax, creating higher capital gains taxes, and the elimination of some exemptions for people that are married and for those …

Jim: Greetings and my Compliments. I have just returned from a training meeting my employer, USDA-Rural Development. It was presented by the American Bankers Association. Bottom line, the ABA is projecting the economy not to bottom out until late in 2014. With over 90 banks already closed (in 2010) and some 775 on the the "Troubled" list, things do not look good. The troubled list has a projected 70 percent failure rate. Keep up the good work. We have a long way to go. May God Bless and keep you and your family. – Lame Wolf

Hi Mr. Rawles, King World News featured an interview with James Rickards, Senior Managing Director at Omnis, Inc. and Co-Head of the firm’s practice in Threat Finance & Market Intelligence. The audio is linked within, as is the Jim Rickards article it stems from. Here are some excerpts: “There are legitimate concerns over the safety of citizens in the event of a financial collapse in the United States where confidence is lost and the dollar plunges. We are mired in a depression, and the central planners continue to look for solutions to keep the monetary system from completely buckling. In …

Hello Mr. Rawles, I thought you might be interested in an article about New York state’s 12th consecutive weekly package of emergency spending bills “to keep the government operating.” This bill will raise the price of cigarettes to over $11 a pack in New York, as well as taxing the cigarettes sold by American Indian stores to people outside the tribe. The last time New York tried the latter was in the late 1990s, and it met with violent protests. They haven’t tried it since, so you know that they’re getting desperate! – E.