G.G. sent this: Record 70.4 Million Enrolled in Medicaid in 2011: 1 Out of Every 5 Americans Hurricane Sandy and the Disaster-Preparedness Economy The Tragedy Of The Euro! What About Germany? Items from The Economatrix: Record Overseas Sales Boost US Growth Why US May Be Headed For Another Recession The Mass Firings Begin Expect A Recession In 2013 Without A Quick Fix To The Fiscal Cliff The Lull Before The Social Storm $5 Trillion Price Tag For Public Pensions
Tossing a bone: Boehner Would Accept ‘New Revenue’ Under ’Right Conditions’. (But soon after, Senate Minority Leader Mitch McConnell (Republican of Kentucky) put his foot down adamantly: no tax hikes. Some news from Greece: Sharp rise in overdue debts to the State Jim Rogers: Money Printing Will Run Amok. Obama 2.0 & the Fiscal Cliff: Implications for America, the Markets, the Dollar, and Gold Items from The Economatrix: Wage Costs Rise More Slowly As US Employers Hold The Line US Home Sales Dip 1.7% On Tight Inventory Can Asia Demand Help Gold Break $1,800 Barrier? Doug Casey: There’s Going To …
New coinage composition: Cents action or delay? (Note that December 13, 2012 is the deadline for the report on the new minting recommendations.) Schrader: Farmland Values Remain Strong Across Spectrum of Quality and Location Argentines Prepare for Huge Anti-Government March Some interesting reading on legal tender paper currencies versus the Constitution: The Dollar, Revisited. Items from The Economatrix: German Calls For Gold Repatriation Intensify As Fed Refuses To Allow Inspection Hathaway: Gold Set Up To Super-Surge To New All-Time Highs Investors Fear More Than Just A “Fiscal Cliff” McDonald’s Sales Drops For First Time Since 2003
Yishai spotted this: Congratulations, Democrats: More Than 45 Companies Go Galt, Announce Mass Layoffs Peter Schiff: Another Stock Market Crash Looming: Get Out of The Stock Market NOW!! Peter Schiff: Much Bigger Collapse Is Coming, Worse Than Europe More charming news: Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says Why gun stocks soared after Obama’s win–In a repeat of 2008, traders anticipated an increase in firearm sales after the election. Items from The Economatrix: “Massive” Surge in Retail Purchases of Silver and Gold Gold Set for Longest Winning Run in Two Months on Obama Win Upbeat Consumers …
Simon Black concludes that the 2012 Election doesn’t matter: I apologize for what you’re about to read. (Thanks to Steven F. for the link.) A nation in the pangs of deleveraging – The long-term trend of a declining dollar and a collapsing middle class. Items from The Economatrix: Wall Street Drops For Second Day On Fiscal Worries US “Fiscal Cliff” Biggest Risk For Canada, G20 Admit Economic Ignorance Job Openings In US Decreased By 100,000 In September Employers Post Fewest Job Ads In Five Months Compared To Other Countries, US Job Market Looks Pretty Good
Reader R.B.S. sent some more proof that if you cannot touch it, then you probably don’t truly own it: Stock certificates feared damaged by Sandy (Doom and Doomer?) Marc Faber & Jim Rogers: Obama Is A Disaster, The Stock Market Should Have Fallen 50%, And You Should Buy Yourself A Machine Gun. I Need To Buy A Tank… It’s Going To Be More Inflation, More Money Printing, More Debt, More Spending… Federal Reserve Report: 100% Chance of Recession B.B. sent: When Infinite Inflation Isn’t Enough James C. suggested this: UK facing middle-class brain drain as professionals seek better lives abroad …
Turmoil in Greece escalates as unions strike. JWR Adds: The strike by doctors won’t mean any loss of income to them since most of them have been paid in several months, anyway. Toilet Paper as currency, post Sandy. Items from The Economatrix: Mining, Ski Slopes and Condos: Buying Real Estate in the US with Silver in Mind Why Thanksgiving Will Cost More This Year What The Jobs Report Says About Housing Why Economic Shock From Fiscal Cliff Will Last Over A Decade
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 …
Sure we’ve watched the new television series Revolution, with their heroine and her post-SHTF world amazingly perfectly coifed hair-do. The series based loosely on an end of the world scenario built around a “Sudden” abrupt change” a la the Dies the Fire novel series [by S.M. Stirling]. All power suddenly goes poof, and nothing electrical works, society collapses, and we’re all back to the age of bow and arrow, knives, and, weirdly deviating from the Dies The Fire premise, good old black powder front-stuffing rifles. Militias, which are all always portrayed by Hollywood, as evil, dictatorial, and brutally repressive, run …
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 …