Foreign Holders Dump A Whopping $40.8 Billion In Long-Term Treasuries Gold Trader: “Big Money Is Now Trying To Get In—On A Violent Regression To The Mean” Items from The Economatrix: Fitch Rings Warnings On Canadian Banks Uninsured next year? Here’s your Obamacare penalty. The Smart Money Is Leaving the Building
India Bans All Gold Coin Imports, Increases Capital Controls Carolina Jim recommended an essay by Paul Rosenberg: The Blow That Killed America, 100 Years Ago. Dire Consequences Await As U.S. Debt Nears A Tipping Point. Items from The Economatrix: That Which Is Incapable Of Reforming Itself Disappears How To Prepare For An Economic Depression US Consumer Bankruptcies Jump By Most In Three Years; Third-Party Collections At All Time High
Reader C.D.V. sent: New Fox, Same Henhouse: Wall Street Takes Over LIBOR. This piece includes some interesting thoughts on derivatives: “A former trader who worked in both New York and London recently told me, ‘At the end of the day, this market is running on the [Federal Reserve]. Once they pull out it’s all over. Cheap money, loads of people making loads of money, but no lessons learned.’” I noticed that Backwoods Home magazine now has a “pay for your subscription in pre-’65 silver coins” option. (We do likewise, for our voluntary Ten Cent Challenge subscriptions.) Similarly, Late’s diner offers …
G.G. flagged this item: A Blunder at the Money Factory Items from The Economatrix: Bernanke Just Felt a Chill Down His Spine Suppressing wages and increasing corporate profits: The tough math behind the current economic recovery. They Are Systematically Destroying Our Independence And Making Us All Serfs Of The State
Eight College Degrees with the Worst Return on Investment. [JWR’s Comments: One loser program that they left off the list: the Bachelor’s Degree in Social Work (BSW.) OBTW, is it just a coincidence that many of these degree programs are dominated by leftists–both students and faculty?] Reader CJA suggested: The Incredible Shrinking COMEX Gold Warehouse Inventories US debt six times greater than declared – study Items from The Economatrix: How Washington Could Push Gas Prices Higher Next Fed Chair Will Lead Us to ‘Economic Ruin,’ Says Peter Schiff Top technician: Yes, 2013 does look like 1987
Monty Pelerin: Tyranny Rules Nearly $1 Trillion in pension liabilities! The Post Office Is Broke: It’s Time To End Washington’s Postal Monopoly. (Thanks to Brian L. for the link.) The Rise Of The Bear: 18 Signs That Russia Is Rapidly Catching Up To The United States Items from The Economatrix: A Quadrillion Yen And Counting – The Japanese Debt Bomb Could Set Off Global Panic At Any Moment The accelerating race to a student debt implosion: Federal student loans rose by $266 billion since 2011. 85 percent of consumer debt growth since 2011 because of student debt. Dr. Doom Warns …
IRS Needs AR-15s for “Standoff Capabilities”? (Ay, ay, ay…) Bill Fleckenstein: Too-easy money makes market too risky; The liquidity-fueled rally of the past 9 months is easy to like. But recent history tells us higher prices based on easy money carry extreme dangers, so a violent drop could lie ahead. Items from The Economatrix: If Housing Is Booming – Why Do We Need Another Fix? Bank of England 0.5% Interest Rates for 7% Unemployment, to Result in 7% Inflation, Ongoing Savings Theft Peter Schiff On The Half-Full Economy
Ding, ding! It is noteworthy that Spot silver spiked to $21 per Troy ounce at the opening of the NY Globex market at O-dark-hundred, GMT on Monday morning. Perhaps the summer doldrums will end early, this year. G.G. suggested: Food-Stamp Use Rises; Some 15% Get Benefits Also from G.G.: Bank of Wausau, WI, Closed by Regulators – 18th Bank Failure of 2013 Peter Schiff – FED Will Continue To Ruin And Cause The US Economy To Collapse! Items from The Economatrix: Here’s The Real Unemployment Rate The American dream myth: Income mobility; 4 out of 5 Americans struggle with poverty, …
Ambrose Evans-Pritchard: Just set fire to Japan’s quadrillion debt Bitcoins can be used as money…and fall under the jurisdiction of securities laws, judge rules Currency Markets: The Next Crisis Has Begun Items from The Economatrix: Retail Sales: Don’t Look to July for Guidance on December Visualizing The Collapse In US Job Security During The Best Period Of Economic Growth In U.S. History There Was No Income Tax And No Federal Reserve
Reader Joe G. sent this: China faces its worst economic crisis: water Massive jump in people who renounced US citizenship last quarter Items from The Economatrix: Eminent Domain and Underwater Mortgages: Solving the Municipal Fiscal Crisis Why the U.S. Economy Deserves a “B-” Grade Three Reasons the Walmart Empire Is Collapsing
Sir, It occurs to me that the sudden desire to “privatize” Freddie Mac and Fannie Mae is simply a way to deploy the wet ink dollars out of the Fed and big banks without overwhelming the money supply. We all know what would happen if those dollars entered the mainstream market place. This just seems to me to be yet another ploy to stall the inevitable, but I haven’t seen anyone else talking about that. Am I missing something? – Big Jon JWR Replies: You are essentially correct. The majority of the U.S. Dollars that have been magically created by …
Why we can kiss the US economy goodbye (Wayne Allyn Root) Our friend Tam (over at the great View From The Porch blog) wittily refers to this movie as “Occupy L5”: ‘Elysium’ director Neill Blomkamp, star Matt Damon deny movie has political agenda No Great Surprise Department: U.S. Congress wins relief on Obamacare health plan subsidies. (Congress almost always exempts themselves from their socialist schemes.) Items from The Economatrix: Chain Reaction of Breakdowns in Progress–Dr. Jim Willie Gold Markets Get Strange – Is Economic Danger Near? Job Market Faces New Problem, Hitting One Unlucky Group Really Hard
Derivatives Bubble: The Number One Threat That Our Financial System Is Facing Only 40% Of Federal Student Loan Borrowers Are Currently Making A Payment Items from The Economatrix: Pandemic of Pension Woes Plaguing The Nation 40 Percent Of US Workers Make Less Than What A Full-Time Minimum Wage Worker Made in 1968 Failure to launch into household formation: Record 36 percent of young Americans (18 to 31) living at home with parents. Where is household formation coming from?
Special Note: For any SurvivalBlog readers with pending orders (already paid, but order not received) with Mulligan Mint (a former advertiser : Please e-mail me and let me know: Your name, your order number, the number of ounces ordered, your e-mail address, and the date that you placed your order. I will then do my best to get them to ship you order. (Mulligan Mint claims that they are presently shipping orders.) Matt H. sent this: U.S. gasoline consumption takes a nosedive. G.G. suggested: Pandemic of pension woes is plaguing the nation Items from The Economatrix: Paul Craig Roberts: Hiding …
G.G. sent: The lame jobs report, in eight charts. News from Spain: Bank bailout fund admits losses have reached 36 billion euros Consulates and the Vatican in chaos as HSBC tells them to find another bank Items from The Economatrix: Full circle: Joblessness at 2008 level Record Jobs For Old Workers; For Others – Not So Much Ten Times More Waiter and Bartender Than Manufacturing Jobs Added in 2013 US Factory Orders Miss (Again); Biggest 4-Month Drop in a Year