Category: Economics & Investing

B.B. suggested a piece over at Zero Hedge: Hugh Hendry On Europe “You Can’t Make Up How Bad It Is” Also from B.B. came a link to this piece by Monty Pelerin: The Economic Charade is Almost Over. His essay begins: “As we near the end point, the point where the economy collapses, government becomes more desperate to convey the myth of a recovery. Government data have always been suspect because of the political ramifications of a good vs. bad economic report. Fudging the numbers, or at least the ways of measuring various statistics, likely began once government began issuing …

When I put some serious thought into purchasing silver as a hedge against the rapid inflation of the US dollar, I was overwhelmed by the complexity of the task. Go to eBay’s web site and type in the search criterion “junk silver” and you will be slammed with about 2,000+ different auctions on an average day advertising everything from “face value” (FV), to Troy weight and standard weight, to vials of silver flakes and silver jewelry from someone’s estate sale.  A little bit of knowledge goes a long way when it comes to buying precious metals, especially if you’re shopping …

When currency isn’t current: Old $50 bill found real, but not before bearer arrested. SurvivalBlog’s Editor at Large Michael Z. Williamson sent this: Wealthy Americans Queue to Give Up Their Passports C.D.V. suggested this commentary from Jim Powell at Forbes: Obama’s Plan to Seize Control of Our Economy and Our Lives Items from The Economatrix: What if a Collapse Happened and Nobody Noticed? Jobs Growth Seen Rebounding in April Factory Growth Best in 10 Months; Bolsters Outlook Smart Money Banking Big on Gold and Silver to Soar

G.G. flagged this: The Media Won’t Touch this Story About the End of the US Dollar Coincidentally, M.E.W. noted one large paper that just did: How US debt risks dollar doomsday: The US dollar is getting perilously close to losing its status as the world’s reserve currency. Should it cross the line, the 2008 financial crisis could look like a summer storm. Mac Slavo: What is America’s Economic Breaking Point? Items from The Economatrix: The Illusion of an Economic Recovery Jim Sinclair Has Something to Say US Economy Grows at Tepid 2.2%, Misses Estimates Oil Prices Rise On Improvement In …

Gary S. spotted this: The Next Metal Crisis: Copper The cascading waves of debt implosion – 5 charts looking at debt leverage, velocity of money, and contagion impacts from the European crisis. 25 Horrible Statistics About The U.S. Economy The Daily Bell reports: Austerity Staggers, Germany Blows Up? Items from The Economatrix: Maybe No Housing Rebound For a Generation US Slowdown Intensifies Global Economic Crisis Signs of Slowing Economy Drive S&P Down in April Five Banks Fail in Worst Week Since April 2011

Peter S. sent this prediction of housing market doom: Maybe no housing rebound for a generation: Shiller . In an another interview, he said: We Are in Age of ‘Late Great Depression’ Michael Pollaro: The Bernanke Bust, the why how and when The Results Are In: Conservative States Prosper, While Liberal States Decline. (Thanks to James C. for the link.) G.G. flagged this evidence that the Mother of All Bailouts (MOAB) is far from over: Senate votes to slow closing of post offices Items from The Economatrix: Gold Will Win Money War Derivatives:  The Unregulated Global Casino For Banks Two …

From G.G.: 45% Of Americans Will Probably Run Out Of Money By Their 75th Birthday Failed Illinois Governor Quinn: “Our Rendezvous With Reality Has Arrived”. (Kudos to B.B. for sending the link.) Bryan E. sent this: Congress steering US economy toward a ‘fiscal cliff’ Economy’s Biggest Drag Right Now is Government K.T. sent this: Missouri House Votes for Gold and Silver Tender Graham Summers, by way of Zero Hedge: Spain is About to Enter a Full-Scale Collapse Speaking of Spain, Peter S. sent this: S&P Lowers Spain’s Rating Items from The Economatrix: Sinclair – Shorts Now Trapped & Gold Could …

Sue C. sent us this: Jim Rogers: US Looks Headed for Recession, Stock Crash in 2013 Also from Sue, this Reuters article: Britain in recession, intensifying government woes Jon in Montana spotted this: Detroit Mayor Bing’s proposed budget slashes government services by 50%. Jon asks: “Is this a sign of things to come, across the country?    John Grgurich: Spain is Struggling with its Debt, and You Should be Worried Items from The Economatrix: New IMF Figures Show at Current Rate Central Banks Will Buy Almost 700 Tonnes of Gold this Year Gas Prices Seen Headed Lower at Pump State …

Ambrose Evans-Pritchard: Europe faces Japan syndrome as credit demand implodes C.D.V. liked this Wall Street Journal piece: The Great California Exodus The young and the jobless – Half of bachelor’s degree-holders under the age of 25 are unemployed or underemployed, in the US. Social Security short fall highlights deeper reality of economy. Pierre M. sent this: De Borchgrave: Geneva gnome’s global dread Items from The Economatrix: Russia and Mexico Both Buy Nearly $1 Billion in Gold in March 22 Red Flags that Indicate that Very Serious Doom is Coming For Global Financial Markets What Happens When All the Money Vanishes …

Jim Sinclair: The Implications of China Paying in Gold. (Thanks to K.T. for the link.) G.G. flagged this one: In apparent first, a public pension plan files for bankruptcy. Bram S. spotted this: Doug Casey on Taxes and Freedom Over at Dr. Housing Bubble: The crashing US housing metro areas – Atlanta home values crash by 17 percent in last year and Las Vegas continues to move lower. Chicago, Los Angeles, and San Francisco continue to make post-bubble lows. Items from The Economatrix: Social Security Fund to Run Out in 2035, Trustees Say In an Apparent First, a Public Pension …

G.G. flagged this one: FDIC closes bank in New Jersey, makes 17 US bank failures so far in 2012 Also from G.G.: 1 in 2 new graduates are jobless or underemployed Items from The Economatrix: Currency Wars:  Gambling With Other People’s Money China Buying Gold at Discount US Stocks Join Global Slump On Europe’s Political Woes Durable U.S. Recovery At Hand As Growth Shifts

Daniel R. Amerman: Inflation & Hidden Gold Taxation: Three Historical Case Studies The Daily Bell reports: Spain Bans Cash Items from The Economatrix: How Iceland Recovered Without Bailing Out Banks Jobs Beat Foreclosures as Housing-Market Guide Falling Energy Prices:  Good For Jobs, Not So Good For Gasoline Fears Rise That Recovery May Falter In The Spring

Reader Jay B. wrote to mention this: IMF doubles lending capacity. Jay’s comment: “Didn’t you hear the printing presses speed up? You didn’t? Well, I will give you a hint, and it sounded like a sonic boom.” Coin Dealers Squeezed By New Ordinances. JWR’s Comment: To expect a coin dealer to hold merchandise for 15 to 30 days in a volatile precious metals market is absurd. No doubt their bid prices will be decreased, to cover the additional risk. Doug Casey: Expect Extreme Volatility a the Titanic Forces of Inflation and Deflation Fight Each Other The big swindle and a …

The $5 Trillion Man: Debt Has Increased Under Obama by $5,027,761,476,484 eBay Announces New Changes for Coins Listed in Auction. The two changes, in essence, that follow up on their earlier banning of “replica” coins: 1.) Starting May 30th, Sheldon Scale numbers (1 to MS70) can only be mentioned if the coins are PCGS or NGC graded and encapsulated (“slabbed.”). 2.) Any coins valued at $2,500+ must be PCGS or NGC slabbed. (JWR’s comment: Gee, do the coin grading firms make a slab big enough to hold a one kilo gold coin? And what about a 10 kilo silver coin? …