Category: Economics & Investing

Reader H.L. mentioned another good reason to keep plenty of greenback cash on hand, for emergencies: Sandy Price Gouging Probed: $7 Loaf of Bread, $10 Box of Matches. [JWR Adds: The truth is that in a free market there is no such thing as “gouging”–just willing sellers, willing buyers and a floating free market price. Large demand, short supply, and minimal opportunities to restock necessitate higher prices. The state Attorney General might just as well attempt to hand out speeding tickets at the Indy 500. But of course, be charitable in disasters.] At Fierce Finance: New York’s Financial district creaks …

The Scariest Jobs Chart Ever. (Thanks to R.D.F. for the link.) Over at The Motley Fool: Three Facts About the Economy That Should Freak You Out Hyperinflation Alert: QE Infinity Is The Only Thing Delaying A Complete Systemic Collapse But Now The Fed Is Out Of Short Dated Bonds Items from The Economatrix: Labor Department “Working Hard” To Ensure Jobs Report Released On Time Firings Highest Since 2010 As Ford To Dow Face Slump Russian Ship Missing With 700 Tons Of Gold Ore Real Fiscal Cliff–Currency And Bond Collapse Food Stamp Creation 75X Greater Than Job Creation Economists Say Jobs …

Obama’s 2008 campaign rhetoric on deficit reduction, versus reality: Conservatism Is Calling U.S. Winter-Wheat Condition Worst in 27 Years as Drought Lingers . (Thanks to B.B. for the link.) Biggest NY harbor oil terminal resumes partial operations Items from The Economatrix: More Tungsten-Core Gold Bars Are Turning Up Consumer Spending In US Increases 0.8% As Incomes Climb State Budgets In Jeopardy As Nation Nears “Fiscal Cliff” The $100 Billion Storm:  17 Things You Need To Know About Hurricane Sandy

Without Electricity, New Yorkers on Food Stamps Can’t Pay for Food. (JWR Adds: “Food Stamps” are no longer stamps–they are EBT cards. Part of the House Of Cards that we are building for future societal collapse.) Real Economy Still Sliding As ‘Eating Out’ Continues to Go Down G.G. sent: Japanese city with huge debts puts its name up for sale. Maryland Woman Has Kept Track of Every Tax on Her In 2012–$26,000 So Far Items from The Economatrix: Celente – It’s Not Just Germany’s Gold That’s Missing Netherlands Citizens Group Demands Central Bank Reveal Location Of Country’s Gold Reserve Consumers …

Over at Zero Hedge: It Begins: Ecuador Demands Repatriation Of One Third Of Its Gold Holdings Sweden pays jobless youth to move to Norway Hit By Crisis, Greek Society in Free-Fall On Twitter, there are widespread reports about fistfights and people bringing guns to gas stations, thanks to gas shortages in New York and New Jersey. Items from The Economatrix: Sandy Total Loss Estimate Up To $100 Billion Recession Very Possible In Q1 2013:  Investors And CEOs Getting Very Nervous With Cloud Of Uncertainty, The Announcements Of Layoffs Are Coming Fast And Furious, And We All Start Feeling The Economy …

G.G. sent: One More Thing to Worry About: Underfunded Public Pensions A provocative video “what if?”: The First 12 Hours of a US Dollar Collapse. (While their premise is sound, I must alert readers about a warning from Peter Schiff about the NIA.) B.B. mentioned: Euro-Zone Unemployment Strikes Record European Commission Single Supervisory Mechanism Items from The Economatrix: As Earnings Falter, Prospects For Q4 Grow Worse High-Level JPMorgan Executives Suddenly Dumping JPMorgan Stock En Masse Forget The Election And Get Ready For Another Year Of Slow Growth Economy In US Grows At 2%, More Than Forecast Spain’s Unemployment Reaches Record …

H.L. sent this bit of news from England that illustrates the Green crowd’s disconnect from reality: Street lights turned off in their thousands to meet carbon emission targets–Huge swathes of Britain are being plunged into darkness as more and more streetlights are switched off by councils and roads authorities. Economist Michael Pento Warns of Inevitable Financial Collapse: “The Real ‘Fiscal Cliff’ Is The Coming Currency And Bond Market Collapse.” Where Should Gold Be Based On Inflation? Items from The Economatrix: The One Headwind That Could Stymie The US Economy Recovery Schiff:  Think Gold’s Pricey?  Wait ‘Til It Hits $5,000 Will …

Part I: The Road To Bullion Default, and Part II. R.C. sent: Thirteen American Cities Going Broke Reader Jim W. sent: Switzerland Prepares Army for Euro Zone Fallout Items from The Economatrix: The Next Stock Market Crash Will Be Bigger Than “Black Monday” Orders For US Capital Goods Stagnate As Spending Slumps 230 Hedge Funds Suddenly Cried Out In Terror And Were Suddenly Silenced John Williams:  Dollar Sell-off And Hyperinflation By 2014

Is The World Abandoning The U.S. Economy? Phoenix Capital Research outlines why Spain is Totally 100% Beyond Saving G.G. flagged this: Over $60,000 in Welfare Spent Per Household in Poverty Items from The Economatrix: Marc Faber:  US Stocks Could Fall 20% Buffett:  “No Question” Global Economy is Slowing Connelly:  The Countdown to the Fiscal Cliff Has Begun Sales By US Mint Of Silver Outpace Gold Over Fifty-Fold

James, So I found a reputable dealer here in town, went to the store, He asked what can I do for you? I said how many pre-’65 silver coins do you have? A big smile on the owners face and he gets up from his desk walks behind a partition, and comes back with three boxes of loose coins. Half dollars, quarters and dimes. I ask what is the going rate and he told me 23.25 times face value.  I asked how much $2,000 would buy me. He calculated $86.80 in silver coin. He asked me why I was buying, …

Rampant Recycling Fraud is Draining California Cash C.D.V. suggested: FAQ for Hyperinflation Skeptics Food Stamp Nation: What a Modern Day Bread Line Looks Like (Infographic) Items from The Economatrix: DeMark Sees S&P 500 Index Peaking ~1,480 Before Tumble Fed Calls Economic Growth “Moderate” While Maintaining Bond Buying Homes Sales Rising to Two-Year High Spur U.S. Growth Euro-Area Recession Deepens as Manufacturing Shrinks Economy

G.G. suggested this: Fed considers upping QE3 size and language The ultimate tangible? Here is an asset that isn’t “created” by a Federal Reserve and US Treasury collusion: Iowa Farmland Sets Sales Price Record. (Thanks to Dan T. for the link.) Jim Rickards – Currency Wars Simulation. (Thanks to Rick A. for the link.) J.B.G. sent this news item: Bundesbank slashed London gold holdings in mystery move Items from The Economatrix: The Good Old Days Are Over Fabian Calvo:  Massive Foreclosures After Election 9 States With Sinking Pensions Good Economic Data Meets Bad Earnings-Which One Is Wrong?

R.B.S. sent: Across Corn Belt, Farmland Prices Keep Soaring Brad in Texas spotted this: US may soon become world’s top oil producer The Next Stock Market Crash Will Be Bigger Than “Black Monday” PIMCO Recommends Hard Commodities To Weather Inflation Items from The Economatrix: IMF’s epic plan to conjure away debt and dethrone bankers We Have Been Warned – Part 2 The Demise of Cash World “Close” To Recession:  Stanley Fischer