Bob G. sent this: Economist Richard Duncan: Civilization May Not Survive ‘Death Spiral’ Illinois to Spend More on Pensions Than on Education. (Thanks to B.B. for the link.) Items from The Economatrix: Economic Data Underscores Weakening Activity Consumer Comfort In US Falls On Concern Over Growth Postal Service On The Verge Of Default Job Gains Topping Forecasts Ease US Slowdown Concerns Service Industries In US Expanded At A Faster Pace In July
Reader H.L. recommended this over at The Daily Crux: Top Manager Grantham: Get Ready for a Global Food Crisis The other side of persistently high unemployment – Underemployment rate shoots up to 15 percent but is actually more problematic because of the civilian employment-population ratio. G.G. flagged this: Cash-for-gold shops boom as Italians sell off their bling Items from The Economatrix: Get Used To The “New Norm” of 6-7% US Jobless Rate Peter Schiff: Priced For Collapse IMF: US Plunge From Fiscal Cliff Would Hit Global Economy Hard Oil Surges Most in a Month as US Adds Jobs, Services
Collapse Of Financial System Will Come In August, Maybe September: Market-Watchers.( Thanks to Jim W. for the link.) Reader H.L. suggested this piece by Gonzalo Lira: How A Country Rationally Exits The Eurozone What’s in your vault? Uncle Sam audits its stash of gold at the New York Fed. The gold audit is a first for the institution and includes drilling into several hundred ingots. It could put the conspiracy theories to rest. Items from The Economatrix: Is The Gold Rush Over? Jobs Outlook Poor, Improvement Unlikely 65 Signs That The Economic Collapse Is Already Happening
I live a self-sustaining and prepared lifestyle, always have and always will. My parents and grandparents lived this way and taught me well. Several years ago, we chose to purchase property for a mini-farm near a university town, so that we could have it all, a self-sufficient small farm near educational and intellectual endeavors for my children. Naturally hidden from view we bulldozed a home site in the woods and built our property up to be self-sufficient, with woods for firewood, fruit trees, garden areas, secret outdoor rooms, caves and everything anyone would want. I worked full time then and …
Greeks can no longer afford paying expensive bribes. (Thanks to Rhonda for the link.) Fred K. mentioned this ABC News report: U.S. Bridges, Roads Being Built by Chinese Firms H.L. spotted this: Deflation? Don’t Count On It… Also from H.L.: 100,000 Workers in Spain Will Not be Paid Because Regional Government of Catalona is Broke Items from The Economatrix: Confidence Drains Away Debt Crisis Live: July 31, 2012 Investing In Silver: States Support Move to Metals as USD Weakens
Over at The Burning Platform: Crash Dead Ahead. Knight Capital glitch triggers wild stock swings Why You Should Expect an Imminent Silver Price Explosion From SurvivalBlog’s G.G.: America’s 401(k) Nightmare? Items from The Economatrix:s Rising Home Prices Show Traction In Housing Recovery Office Building Sales Rebound Hits A Bump Why Is Future Silver Supply More at Risk than Gold?
RBS flagged this: 5% of Americans Spend 50% of Health Care Dollars Are Fiat Currencies Headed for Collapse? Items from The Economatrix: Shares Fall As Stimulus Hopes Fade Manufacturing In U.S. Probably Stagnated as Spending Cooled Fed to Signal More Easing But Stops Short of Big Steps
Signs of the times: For More Pianos, Last Note Is Thud in the Dump. In a depressed economy, few can afford to have old pianos restored. Oh well, at least a few weary pianos get to go out in a blaze of glory. Items from The Economatrix: Rats at IMF and BIS are Leaving the Ship Heading for a Crash The US Retail Collapse Accelerates CNBC Admits We Are All Slaves to Central Banks Beer: A Reflection of the World Economy
The Fiscal Times reports: Disability Benefit Program Is Going Broke. (Thanks to G.G. for the link.) Corn prices hit record as crops shrivel Get ready to pay more for your steak Items from The Economatrix: Home Prices: Bottom Or Bubble? Future Silver Supply More At Risk Than Gold Still Think That Money Market Fund Is “Cash”? 17 Reasons Why Those Hoping for a Recession in 2012 Just Got Their Wish
J.N. suggested this over at Zero Hedge: $10 Trillion M2 Is Now In The Rearview Mirror. So the aggregate money supply has been expanded from $4 trillion to $10 trillion in less than 12 years. So it is no wonder gasoline and milk are both over $3 per gallon. Martin Armstrong: Why Property Taxes Will Soar, Why the Risk of Civil Unrest is Rising Exponentially and Why We Will See The Rise of a Third Political Party Items from The Economatrix: Earnings Show Recession May Be “Fast Approaching” Growth In U.S. Slows As Consumers Restrain Spending First Year of U.S. …
Reader C.S. wrote to note that Smith & Wesson stock was up 214% in the past 12 months. Well, at least BHO can say that he personally revitalized one sector of the economy. White House projects $1.2 trillion deficit, lower economic growth in 2012. (Thanks to SurvivalBlog’s G.G., for the link.) At least three banks seen central to Libor rigging Items from The Economatrix: Gold And Silver in Deflation Mainstream Media Recovery Hoax Oil Trades Near Week High On Euro Pledge, US Economic Outlook Jim Sinclair: The System Here And There Is Totally Broken
Reader J.D.F. sent this news of 3 million lost jobs: Economy lost more than 200,000 small businesses in recession, Census shows H.L. sent this: The US Garbage Indicator Is Sending An Ominous Sign For The Economy Transparency: Paying the Same Amount for Smaller Products. (Thanks to Joe K. for the link.) Ian R. forwarded this link: Economists issue euro crisis blueprint, warn disaster looms Items from The Economatrix: New Home Sales Tumble, But Trend Intact 12 Signs That Spain Is Shifting Gears from Recession to Depression Charting the High-Beta Horror of Hedge Funds Worldwide Debt Default Is The Only Solution
Debt crisis: Greece to run out of money by August 20. (Thanks to J.B.G. for the link.) Doug C. recommended this: Failing to Break Up the Big Banks is Destroying America Santelli Rants: “Ditch The Duct Tape; The Problem Is Insolvency”. He says in summary: “We need pro-growth policies and spending cuts, right now.” (Thanks to B.B. for the link.) Economy: The U.S. Retail Collapse Accelerates Items from The Economatrix: The War On Silver Everything You Need To Know: The Economic Collapse For Dummies “Micro Documentary” Europe Is Sleepwalking Toward Imminent Disaster, Warn Top Economists Global Economy In Worst Shape …
The hindrance of global debt – Spain accelerating to major bailouts and bond markets react. Eurozone stock markets in major decline. David B. sent this: Fed Plans Dollar Devaluation, New Evidence; Why Now? G.G. suggested this: David Stockman: “The Capital Markets Are Simply A Branch Casino Of The Central Bank” (Includes a link to an insightful video interview of Stockman.) Also from G.G.: San Marino falls victim to the eurozone crisis Items from The Economatrix: Greece Now in “Great Depression,” Says PM Is Vegas Signaling the Consumer is Folding? Europe’s Systemic Collapse…And What it Means for Us and You Wall …
Reader B.B. sent this: 8,753,935: Workers on Disability Set Another Record in July; Exceed Population of 39 States Federal Government’s Debt Jumps More Than $1T for 5th Straight Fiscal Year More mainstream media Pollyanna nonsense: Wall Street Journal: The U.S. Housing Bust Is Over. (Thanks to C.D.V. for the link.) Sue C. sent this: US poverty on track to rise to highest since 1960s J.B.G. suggested this article: Blaming the Spanish victim as Europe spirals into summer crisis Items from The Economatrix: Five Banks Fail, 2012 Tally at 38 Gold Shaping Up for a Major Uptrend Gary North: Central Banks …