B.B. recommended: In 2002, CBO predicted 2012 US debt would be 7.4% of GDP. In reality, it was almost 74% of GDP $1 Trillion Obamacare Tax Hike Hitting on Jan. 1st San Bernardino may have to pay pensions before police protection Items from The Economatrix: Ordinary Folks Losing Faith In Stocks Housing, Factory Data Point To Momentum In Economy
What Happens When the Bond Markets Turn Against the US? A Brief 2,000-Year History of Silver Prices (Thanks to Terry F. for the link.) C.D.V. sent: Kyle Bass: “This Ends in War; The Government’s Never Going to Tell You That It’s Going To Happen.” Items from The Economatrix: Fiscal Cliff Could Put Your Tax Refund On Hold Fewer Banks Fail As Industry Strengthens Fiscal Cliff: What To Expect If There Is No Deal
Jim Willie: The Gold War Loren sent this: Mort Zuckerman: Brace For an Avalanche of Unfunded Debt Items from The Economatrix: Labor Market, Housing In US Strengthen Into 2013 Consumer Sentiment Weakens As Fiscal Crisis Looms Home Prices Rose For 9th Straight Month
Buried in Bloomberg: “Why A Single Leveraged Speculator Can Trigger An Entire Clearinghouse System Default” (Thanks to G.G. for the link.) This Chilling Economic Report Is Getting Passed Around By CEOs Items from The Economatrix: Jobless Claims Fell By 12,000 Last Week Durable Goods Orders Jump In November 10 Fascinating Economic Collapses
The most educated and indebted generation ever – Average student debt has tripled since 1990 while earnings have gone stagnant for college graduates. Social Security Ran $47.8 Billion Deficit in FY 2012; Disabled Workers Hit. (Thanks to SurvivalBlog’s G.G. for the link.) Items from The Economatrix: Say Good-bye To The Good Life US Retailers Scramble After Lackluster Holiday Sales Home Prices Rose In 9th Straight Month
It’s Not a “Fiscal Cliff” … It’s the Descent Into Lawlessness Post-Hyperinflationary Zimbabwe Welcomes The Holidays With 80% Unemployment, Empty ATMs And Paralyzed Transport. (Thanks to Jim W for the link.) American Vehicle Miles Driven Haven’t Been This Low Since The 1990s Items from The Economatrix: Chinese Rating Agency Puts US On Negative Watch Geithner Warns Lawmakers Debt Standoff Risks US Default A Horrific Economic Collapse Is On The Way: Bond Market Is Imploding, Debt Ceiling Will Be Breached Next Monday, Homeowners Now Foreclosing On Banks, And America Is Rapidly Becoming A Nation Of Takers
I am a widow of over three years whose youngest son was serving our country in the Middle East when my husband’s death happened. My husband lost his job and was forced into early retirement before his death. I will not go into the details of all the turmoil then and of having a child home with injuries of war. In a SHTF situation there will be many people with war injuries in our own neighborhoods. My other children and I are so glad he is still alive. My income dropped further not long after this. It was the end …
Reader “Swampfox” recommended a lecture by hedge fund manager (and fellow nickel coin hoarder) Kyle Bass. We Are Witnessing The Death Of Small Business In America The Real Reasons the Fed Announced QE 4 Demand For Gold “Combiners” Soaring Items from the Economatrix: The Last Christmas In America? New York Stock Exchange Sold To Derivatives Company In $8 Billion Takeover Jobless Claims Fall: A Bright Spot In The Fiscal Cliff Gloom IMF Chief Warns US On Worldwide Effects Of Fiscal Cliff
H.L. sent: Brazil Doubles Gold Reserves as Central Banks Buy Bullion American Gun Store: Before And After Sandy Hook Massacre Items from The Economatrix: Housing Poised To Bolster US Growth As Sales Rise US States Gain In Economic Health As Manufacturing Grows Silver To Gain 29% In 2013
Sound familiar? Cash Is King: Printing of $100 Bills Soars With Farm Bill Stalled, Consumers May Face Soaring Milk Prices. (Thanks to Michael W. for the link.) K.A.F. sent: Hungary bars foreigners from buying farmland Items from The Economatrix: 20 Signs That The US Poverty Explosion Is Hitting Children And Young People The Hardest, etc. The End Of US Dominance In 2013 Federal Spending, Rising Inventories Mask Much Weaker Economy The Current “Fiscal Cliff” Situation Is A “Worst Case Scenario”
Diving into the fiscal economic mess – Fiscal cliff a reckoning for decades of poor financial management and massive debt based spending. Looting Breaks Out In Argentina Items from The Economatrix: Will Gold Break $2,000 In 2013? John Williams: We’re Going To Be In A New Recession Global Economic Slowdown Signals Sad New Year What Happens If The Payroll Tax Cut Expires?
ICE to Buy NYSE for $8.2 Billion, Ending Era of Independence Jim W. sent: Putting It In Perspective: In 2013 The Fed Will Conjure Enough Paper Money To Buy 11% Of All Existing Gold Top 10 Things To Worry About In 2013 Items from The Economatrix: The Real Killer Will Be The Next Recession And There Will Be One Chart Of The Day: The Death of America’s Middle Class Fed Asset Buying Won’t Speed Growth Above 2% What Inflation Means For You: Inside The Consumer Price Index (CPI)
Guns Out of Stock at Wal-Mart as Magazine Prices Surge on Teacher sole heir of $7.4 Million gold coin fortune Why Reported Inflation Seems Different Than Reality Items from The Economatrix: Silver dip! (Buy on the dips.) We’re Going To Have A World Class Currency Crisis And Global Growth Will Never Return To Its Glory Days Please Prepare Well In Advance: What’s Coming Next Year Will Be Worse Than 2008 Saxo Bank’s 10 Outrageous Predictions For 2013
This does not bode well: SEC Ruling: Active ETFs Now Allowed To Use Derivatives Jim W. recommended this “must read” piece: The Fiscal Cliff Is A Diversion: The Derivatives Tsunami and the Dollar Bubble (Paul Craig Roberts) Items from The Economatrix: The Most Critical 48 Hours In The Fiscal Cliff Melodrama Have Begun Without Deal, Unemployment Checks Stop December 29th US Secret Service Bans Sale Of Silver And Gold Liberty Dollars On Ebay Silver Prices About To Implode: Chinese Demand For Silver Has Exploded
From Chris P.: Food and fuel shortages in war-torn Syria. Regime targeting bakeries and farmers. “Twist” Redux: Fed to Launch New Bond Buying Program to Ease Fiscal Cliff Fears B.B. liked this Peter Schiff interview: Majority Doesn’t “Have A Right To Steal My Money Just Because They Voted For It” Why The Fiscal Cliff Is Set To Crush The Middle Class With 50% Tax Rates FEMA trailers to the rescue! (a month or two late): U.S. Rep. Pallone: post-Sandy temporary housing plans in N.J. to start following talk with FEMA director Items from The Economatrix: New Fed Metrics, QE4 Won’t …