Category: Economics & Investing

S. recommended: Imperial Understretch and the Fall of Great Powers G.G. suggested: U.S. debt jumps a record $328 billion in a single day — tops $17 trillion for first time   Items from The Economatrix: The US Cannot Avoid A Soft Default Even If A Hard Default Is Avoided: Debt Ceiling Already Breached And US Treasury Operating In Emergency Mode While US Is Paying $415 Billion In Annual Interest Expenses. Nothing Left To Financially Lose: Biggest Drop In Confidence Since Lehman Brothers And Why Some Are Unmoved By Government Shutdown. Government shutdown took $24 billion bite out of economy

I often have readers and consulting clients write to ask me about establishing family trusts. These are used to shelter assets including land, houses, vehicles, and firearms. In the context of present-day America, one of the goals of any good trust is anonymity. So I recommend that you pick a generic “vanilla” name that is innocuous and that is un-related to your family surname, your locale, the nature of the included assets, your politics, your religion, or your personal interests. The goal here is to have name that won’t trigger suspicion or scrutiny. Some good choices would be “The Hallifax …

Insider: Supermarkets Have Less Than One Day Supply Of Food On Hand RBS sent a link to some fascinatingly detailed information: Farm Subsidy Data. RBS says: “The database tracks $256 billion in farm subsidies from commodity, crop insurance, and disaster programs and $39 billion in conservation payments paid between 1995 and 2012. Just enter your ZIP code and you will find who has taken subsidy money from the Feds.” Worth ranting about: Dylan Ratigan speak up about U.S. government obligations. Items from The Economatrix: Complete Collapse & Economic Meltdown Will Shock The World Why The Gold Surge Is Just Starting: …

ZeroHedge reports: Creeping Capital Controls At JPMorgan Chase? Bob in Virginia liked this piece: Two views of our current economic and energy crisis Commentary from The Money GPS: QE3.5? ~ The Fed’s New Scheme. Don’t miss his comments at 2:08 on total long-term government obligations. K.N. sent: China’s soaring fiscal deficit rings alarm bells Items from The Economatrix: Jim Rogers Blasts “This Is Going To End Badly… And The Rest Of The World Knows It Early Stages of Hyperinflation Next Year-John Williams Slowly At First, Then All At Once

Lack of Economic Data Hiding True Health of Housing Market The Baltic Dry Index (for transoceanic shipping rates) is still in the dumpster. H.L. sent: As U.S. averts default, Japan and China brace for next dollar drama And for some humor: Hitler Learns About the Obamacare Exchanges Items from The Economatrix: The Sun Is Setting On Dollar Supremacy, And With It, American Power Gas Prices Could Dip Below $3 by Year-End Ron Paul Fears The Future Under Janet Yellen “Is Grim Indeed”

New Jersey Island Won’t Get Its Landlines Back After Sandy Because Copper Is Too Expensive. [JWR Adds: It might be less expensive for the phone company to provide a 3-watt PV panel and DC-to-DC phone charger for each customer!] K.A. and Michael C. both sent this Zero Hedge link: Foodstamp Program Shutdown Imminent? The global copper supply glut is expected to triple in 2014–showing that the economic depression is continuing. Items from The Economatrix: Debt Deadline Approaches: Here’s What Would Happen If U.S. Defaults This Is What Has The United States Truly Terrified Fitch Places U.S. on Rating Watch Negative, …

The Wall Street Journal reports: Uneasy Investors Sell Billions in Treasurys. (Thanks to Robert L. for the link.) Tim J. sent: Food Prices Could Rise if the Country Hits the Debt Ceiling Items from The Economatrix: Marc Faber Warns “There Is No Safe Haven” The “Aggregation Of Rackets” That American Life Has Become Is Rolling Over There Is No Question That We Are Now In The End Game

To SurvivalBlog Readers: I have gone back and read or skimmed the archives of every entry in SurvivalBlog since it’s inception in 2005. I’m sure that anyone who has read even a small portion of this excellent resource has come to realize that a means of self-protection is critical in a SHTF situation and that firearms are the primary tool to that end. To those that may not yet be aware, many popular types of ammunition have been scarce and have become more expensive and attempts by the government to regulate sales and possession of ammunition are becoming more frequent. …

Here it comes! The IMF Proposes A 10% Supertax On All Eurozone Household Savings. Americans should be forewarned. We too need to minimize our bank deposits and shift into tangibles investing. (Thanks to “Beekeeper” for the link.) C.D.V. sent this: Fitch puts US AAA rating on rating watch negative Nobel Prize U.S. winner warns of ‘bubbly’ global home prices Items from The Economatrix: 22 Reasons To Be Concerned About The U.S. Economy As We Head Into The Holiday Season The US cannot avoid a soft default even if a hard default is avoided: Debt ceiling already breached and US Treasury …

Life imitates art: IMF chief: U.S. dance with the debt limit is ‘very, very concerning’ [JWR’s Comment: Thankfully, she stopped short of saying: “default appears imminent.” Perhaps next week someone from the Deutsche Bundesbank will make some off the record remarks…] G.G. flagged this: U.S. Adds Two Times More Debt than Economic Output in Last Two Years Shenandoah blog: Stasicare. (Thanks to B.B. for the link.) P.W. sent this from Zero Hedge: They’re Coming for Your Savings Also from P.W.: U.S. banks no longer too big to fail says Tucker From The Economatrix: If We Are In An Economic Recovery, …

Several readers mentioned this: Computer Glitch Blamed For Nationwide EBT System Shutdown On Saturday. The food handout computer system came back up late Saturday evening, but just imagine this happening in all 50 States and in all of the Territories for more than a week. When some people vote with their feet, it gets noticed: Billionaire Branson Leaves UK for Caribbean Tax Haven Items from The Economatrix: Nothing Left To Financially Lose: Biggest Drop In Confidence Since Lehman Brothers And Why Some Are Unmoved By Government Shutdown. Unemployment Claims Surge, Partly Due To Shutdown Lew: Benefits at risk without rise in …

Jim Grant: America’s default on its debt is inevitable National Pravda Radio (NPR) recently produced an infographic showing Everyone The U.S. Government Owes Money To, In One Graph. Laughably, it shows the 2.1 Trillion owed to the Federal Reserve shaded in blue as debt held by “Federal Government.” I have a news flash for them: The Federal Reserve is no more “Federal” than Federal Express. It is a private banking cartel that was given a monopoly when it was created a century ago. So for Democrat Congressman Alan Grayson to suggest the Fed “cancel” its Treasury debt (as he recently …

The Dread Pirate’s Cash Stash is Still Safe U.S., Switzerland Export Largest Ever Amounts Of Gold To Hong Kong And Investors Should Take Note G.G. suggested this piece: What’s happening in the Treasury bill market today should terrify you Items from The Economatrix: The “D.” Word, again: Boehner says U.S. on path to default if Obama won’t negotiate Governments Will Start Panicking As Chaos & Crisis Accelerates Peter Schiff Warns Yellen’s Nomination Means Any QE Taper Expectations Are “Delusional” Obama Offers Two Choices: Unconditional Surrender Or Default