US Dollar Collapse? Here Are 9 Ways It Could Happen Half of Detroit property owners don’t pay taxes. (Thanks to J.B.G. for the link.) Meanwhile, in Stockton, California: Some residents struggle to pay property taxes Items from The Economatrix: IMF: World Economy Could End As We Know It … Christine Lagarde: “2013 Will Be Make Or Break” Waking Dreams End Unpleasantly US Already In Technical Default
Captain Rawles, The inflation calculator that you linked to is way off. If you punch in five cents it returns $1.16. [JWR Adds: This is because their calculator uses "official" CPI data, which is badly skewed.] In 1913 it cost five cents for a loaf of bread. I would love to find a store that sells a loaf of bread for $1.16 today. Being a master of Excel, I played around with this a few months ago. It turns out that a loaf of bread costs about $4.00. An increase from five cents to four dollars is an …
The High Burden of State and Federal Capital Gains Taxes. (California’s new combined rate us a whopping 33%. Ouch!) Report: United States lost 11,630 farms in 2012 What European Recovery? Unemployment at record high and debt only keeps reaching more unsustainable levels. Italy’s Debt to GDP crosses 125 percent. Items from The Economatrix: The Trigger Has Been Pulled, The Crash Has Begun, How Are Things Going To Play Out Are We Headed Toward An Economic Collapse? Preparing For A Financial Armageddon Moody’s Cuts UK Credit Rating One Notch To Aa1 US Consumers Hit By Payroll Taxes, Rising Gas Prices: Up …
The year 2013 marks one significant anniversary that will probably be soft-pedaled by the mass media: December 23, 2013 will be the 100th anniversary of the exclusive private banking cartel known as The Federal Reserve–America’s central bank. I detest this organization. It isn’t Federal (not any more “Federal” than Federal Express), and it has no real Reserves. Lex Mala, Lex Nulla The Federal Reserve Act was improperly implemented as an act of congress. Properly, it should have been promulgated as a Constitutional amendment. Article 1, Section 10 of the U.S. Constitution dictates: “No state shall make anything but gold and …
Mr. Rawles, Thank you for your site and all that you do. I haven’t seen anyone mention on Survivalblog the recent price rise in Bitcoin. It is a good time to turn any coins into tangible items. I would like to recommend Fastcash4bitcoins.com I used the service for the first time about two weeks ago just to see if it was for real I selected the pay me with a check option and was paid out on 5 bitcoins. I can happily say I received and cashed the check three days later. Now that I had some more confidence in …
G.G. sent us a link to some clueless punditry from The Economist crowd: More Inflation Is the Cure for the Fed’s Impotence. The Fed is locked in to ZIRP and endless monetization (“Quantitative Easing”) because the service cost on the Treasury debt would be unsustainable if interest rates were to rise. When inflation resumes and interest rates do jump, it will be Game Over. The Dollar will crash, interest rates will run up past 15%, and the economy will stagnate. Be careful what you wish for, Mr. Avent. At this point the Fed is irretrievably stuck until Der Tag, when …
Graham Summers: The Fed is Now the Fifth Largest Country in the World B.B. recommended this at Zero Hedge: Stanley Druckenmiller: “We Have An Entitlement Problem” And One Day The Fed’s Hamster Wheel Will Stop America’s Most Miserable Cities 2013 Items from The Economatrix: Why Trouble’s Brewing For The Euro Insolvency, USA Wal-Mart’s “Atrocious” Quarter Reveals A Faltering Economic Recovery
Reader B.B. suggested this: Killing the Dollar: G20 & IMF Push for Global Fed, Global Currency The Wal-Mart Indicator: We’re Heading for a Stagflationary Disaster Jeff R. mentioned this story about modern-day alchemy, with folks treating lead like gold: Oklahoma City business offering ‘Cash for Bullets’ amid gun craze Items from The Economatrix: 20 Signs that the US Economy is Heading For Big Trouble in the Months Ahead Is A “Re-Fi Apocalypse” Upon Us? Homebuilding Takes a Breather; Wholesale Prices Up
Michael W. sent:In hard-hit Spain, bartering becomes means of getting by G.G. sent this: World’s top economies shrink for first time in four years Ask Russ: How Bad is the Sequester? Is Hyperinflation A Certainty? Items from The Economatrix: Retail Apocalypse: Why Are Major Retail Chains All Over America Collapsing? Currency War Has Started. International Monetary System To Destabilize And Collapse Peter Schiff: America is Becoming the United States of Britain
The dip in spot silver is continuing. Silver was down to just $28.54 per troy ounce, the last time I checked. This is a great buying opportunity. Buy on the dips! The handwriting is on the wall for the U.S. penny and nickel: Minting Coins Cost U.S. Taxpayers $436 Million: Chart of the Day Reader Joe B. sent this: If the Euro Collapses, the Swiss Army Is Ready B.B. sent this: Peter Schiff: It’s Going To Hit The Fan During Obama’s Second Term Items from The Economatrix: Will We See $5 Gasoline This Year? Refinery Closures Send Gas To Near …
The latest scary chart, over at Jesse’s blog: The Fed is increasing its monetary base aggressively again. G.G. flagged this: Fiscal trouble ahead for most future retirees Manny Pacquiao KO’d by 39.6% Tax Rate, Refuses to Fight in U.S. US Jobless Rate One Of The Worst In Industrialized World (Thanks to C.N. for the link.)
Mainstream media pundit Mark Levin talks serious societal collapse gloom and doom. (In his February 15th show, scroll forward to the 10 minute mark.) A consideration in choosing your locale: State and Local Sales Tax Rates Left In The Dark: Copper Thieves Rob Detroit Freeways Of Light H.L. sent: Texas Prepares to Go it Alone Capitalism works: Private navy goes to war on Somali pirates. (Thanks to KAF for the link.) Items from The Economatrix: Ron Paul: Trade War & Economic Collapse Coming Gas Prices Hit An Historic High: What’s Driving Them Up? Fed Joining In Alarm Over Distortion It …
More gloomage coming from a mainstream outlet: Is the Dollar Dying? Why US Currency Is in Danger Gold & Silver Price Takedown February 15th: Noise vs Facts A hard money investing blog worth reading: Deviant Investor Items from The Economatrix: Recovery Sign: More People Quitting Their Jobs Mortgage Mess Still Mires Housing Recovery State of the Union Reaction: Gun Sales Still Strong Ron Paul on the State of the Union
DIP! Spot silver closed at $29.80 on Friday. It may yet go a bit lower in this swing, but anywhere under $30 per Troy ounce is a bargain. Former Congressman Dr. Ron Paul was on Bloomberg’s Lunch Money show and was talking war and economic collapse. Are US Retirement Accounts at Risk? Items from The Economatrix: Bond Bubble Expectations Retail Sales Up Despite Payroll Tax Hike The Number One Reason To Invest In Gold The End Of The Current Fiat Monetary System Is Coming, And A Gold-Backed Currency Will Replace It
“When You Have Fiat Currency, What Level Of Value Is Real”, Santelli Asks. (Thanks to B.B. for the link.) Another from B.B.: Schiff: Sequester is ‘Best Thing We Could Have’ Items from The Economatrix: Eric Sprott: Expect $200 Silver As The Financial System Implodes Top Economic Advisors Forecast War And Unrest Europe’s Recession Deepens As Exports Suffer Unemployment Claims Fall By 27,000