Pastor C. sent this: Liquidity Can Overcome Common Sense For Only So Long Jim W. liked this piece by Professor Allan H. Meltzer: Quantitative Quicksand The One Chart That Shows Just How Stuck Our Economy Is Items from The Economatrix: World Bank Cuts Global Outlook as China Slows, Europe Contracts Inflation at 53-Year Low Belies US Demand Vigor The Reality About Today’s Consumer Economy Oil Rises On Mid-East Unrest
Monty Pelerin: Why Things Will Get Worse – Much Worse Over at Zero Hedge: Stunning Images From China: Ten Thousand People Waiting In Line To Buy Gold Items from The Economatrix: American Dream Is Now A Part-Time Job and an Apartment El-Erian Grades US Economy a “B” Wal-Mart Warns of Economic Disaster
Analyst: We Are Seeing A Farm Bubble In The Corn Belt. (Thanks to Jim W. for the link.) G.G. flagged this: California on the Brink: Pension Crisis About to Get Worse H.L. sent: Venezuela Launches Electronic Rationing Card Items from The Economatrix: Jobs Disaster Continues, But Congress Debates Increasing Immigration? Three Reasons The Jobs Numbers Were Bleh Unemployment Problem Is Bigger Than NYC & LA Combined
Why Supply and Demand Doesn’t Matter for U.S. Oil Greg Hunter: We’re a Long Way from the 1970’s. (Thanks to Jim W. for the link.) The Crunch In Emerging Markets May Cause The Fed To Delay Tightening. JWR’s Comment: Yes, and your local crack head will give you lots of excuses why he has delayed “tapering” his habit, too. It is obvious that our government is now absolutely addicted to creating free money. And the fact that they are foolishly creating Mortgage Backed Securities (MBS) derivatives in this process is reinflating the bi-coastal housing bubble. This will all end quite …
A SurvivalBlog reader in Belgium who prefers to remain anonymous wrote to mention three noteworthy changes: “…in Belgium in the last two weeks cash transactions were limited, transactions in gold and silver were limited, and the historical weapons list abolished which [previously] allowed us to buy [some antique cartridge guns] without a permit. These had included many older military rifles such as the Lee-Enfield, Mosin Nagant, Schmidt-Rubin, etc.” Pat Cascio flagged this: Gun ammo running out in Australia as US citizens buy big. A Bitcoin documentary in the making: “Can a newly married couple survive when every living necessity can …
Getting ready for a cashless society? France Prohibits Sending Currency, “Coins And Precious Metals” By Mail The Maduro era: Venezuela hit by fears of hyperinflation and recession Silver Prices: Paper, Physical and the Coin Dealer FDIC closes North Las Vegas bank; will reopen under different ownership Items from The Economatrix: Financial Insider: “We Are Moving Into The Last Stages Before An All-Out Collapse” Greenspan: Taper Now, Even If Economy Not Ready; Marc Faber: Even QE99 Won’t Help Us May Jobs Reports “Pleased No One” Says Paulsen
Taxing Coin Sales: A Bureaucratic Nightmare In The Making? Bread, butter, and food stamp economy: Is the US developing a permanent under-class of citizens economically? Richard Russell: Silver, Gold & A Coming Stock Market Crash Over at Silver Doctors: COMEX confirms that its gold and silver inventory reports are fraudulent. Items from The Economatrix: Real Unemployment Rate: 11.3%? Nope. 29%. Economist: Labor Market Just Not That “Healthy” May Jobs Report; Government Data Grab
James, I agree with Mr. Williamson’s comments. To use a Tennessee expression I would opine that Heinberg does not know “diddly-squat” about farming. First, my bona fides: I grew up on a farm. Both sets of grandparents farmed with teams of mules in west Tennessee. Some 30% of our farming acreage was used to grow food for the team of mules. We now operate a mini farm to be self sufficient in food and to grow and save heirloom seeds for barter after “The Crunch.” We have a Kubota B7510 tractor and all the implements. This year we’ve some …
Spot silver took a substantial drop on Friday, closing on the COMEX at $21.69 per ounce. A dip like this would be a good time to buy. And speaking of silver, Mulligan Mint is cranking out the one ounce American Redoubt silver coins in quantity, and the shipping delays are getting shorter. For those who have been waiting, thanks for your patience. India Central Bank Prohibits Sales Of Gold Coins. (Thanks to G.G. for the link.) Lifestyles of the Los Angeles flippers: Big money being invested in flips. Boyle Heights and other interesting market observations. Items from The Economatrix: Weekly …
Introduction There are two questions that every gun owner will be asked to address in the near future: 1. Do you own and store firearms in your home? 2. Do you want your children and their children to inherit your firearms without undergoing a background check? Question 1 is taken from a random selection of medical portal entrance questionnaire forms. The question appears on the form along with questions about swimming pools, drugs, alcohol etc and asks if each identified potential risk is present in the patient’s household. It is not a random question for philosophical consideration. It has recently …
At Seeking Alpha: Why the Dow Could Hit 20,000 in Three Years Mac Slavo: We Have Blown the Largest Bubble in the History of Mankind G.G. flagged this: Doomsday poll: 87% risk of stock crash by year-end Surprise! Your Bitcoins May Be Taxable Income to the IRS Items from The Economatrix: Peter Schiff: Fed’s Advisory Council Admits We’re Screwed UCLA Economist Forecast Paints Dismal Picture of Economic Recovery Retailers’ Sales Rise in May, Spending Stays Moderate Remember The Sequester? It’s Finally Dinging The Economy
S&P 500 Crash Warning: Margin Debt Surpasses 2007 Danger Levels The supply and demand math can’t be avoided: Summer Is Lyme Disease Season. The Price of the Drug to Treat It Just Exploded. Once again, those of us who wisely stocked up are sitting pretty. The Roubini – Faber Debate South African Rand Leads Emerging Market Rout. Rationalizing and pushing the debt limit: The academic battle to open the gates on unlimited digital debt monetization. G.G. suggested this: Nine reasons why the four-year-old US economic recovery is closer to awful than awesome Bread, butter, and food stamp economy: Is the …
News headline from Wednesday: Markets Around The World Getting Smoked — Dow Falls Below 15,000 The mainstream investors catch on, belatedly: Gun collecting: Worthy investment or risky business? (Thanks to H.L. for the link.) Collapse Isn’t Coming -We’ve Already Begun (an interview with David Quintieri that highlights the derivatives timebomb.) Jim Kim of Fierce Finance asks: Is a credit bubble about to pop? Promises by one or more third party governments must have been made! Rhode Island-Based Firm Announces Bid For Massive Amount Of Outstanding Greek Debt U.K. gang steals $775,000 – on just ONE American Express Black card. Items …
Just as we assumed: Red States Have Most Economic Potential. (A hat tip to H.L. for the link.) This Crazy Extend & Pretend Economic World. Here is a quote: “The Japanese government spends 24% of its annual revenues on interest expense, but only because the average interest rate is quite low. If interest rates rise to 2.2%, their interest expense will consume 80% of the government revenues.” Reader Bob G. suggested this: The Four Big Risks Massive Money Has Brought to the U.S. Economy The price of Austerity in Italy: Homemade Bread The Feds Seized Another Bitcoin Site. Items from …
Reader J.M.R. suggested: The Coming Guaranteed 48% Real Estate Crash J.B.G. sent: Venezuela police seize 2,500 rolls of toilet paper and ‘Unbelievable’: Venezuela Shortages Move Far Beyond Just Toilet Paper Peter Schiff: The Great Reflation There have been more revelations about Bloomberg’s financial spies. Items from The Economatrix: 10 Reasons Why So Many People Are Moving To Texas Consumer Spending In U.S. Unexpectedly Declined In April On Crushing Student Loans, Worthless College Degrees, And The Millennials