Category: Economics & Investing

John Williams of Shadow Stats says: “This is end of the world type stuff”. He recommends stocking up on barter items. A bunch of links, all courtesy of Kevin S.: Presenting The (Only) Four Outcomes To The Global Public Debt Crisis On The Failure Of Inflation Targeting, The Hubris Of Central Planning, The “Lost Pilot” Effect, And Economist Idiocy A National Debt Of $14 Trillion? Try $211 Trillion US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP, $14 Billion From Breaching Debt Ceiling Items from The Economatrix: Why Is Global Shipping Slowing Down So Dramatically? The …

G.G. flagged this: Obama’s Budget Puts 2012 Deficit at $1.33 Trillion. Courtesy of Kevin S.: Straight Talk with Tyler Durden: The U.S. Is Free-Falling Into Bankruptcy Items from The Economatrix: Bad Home Loans Top $72 Billion In “Colossal Failure” Mortgage Giants To Pay $25 Billion In Foreclosure Settlement S&P Threatens US With Another Downgrade Possible Next Debt Bomb:  Student Debt Pushing More People Towards Bankruptcy

Washington Footing the $1.6 Billion Cell Phone Bill for Millions of Low Income Americans Chris Martenson: Why Our Currency Will Fail If The Euro Breaks Up — Scenarios For Greece, PIIGS And Total Collapse. (Thanks to F.B. for the link.) Reader Andrew M. mentioned the latest edition of KGS Night Watch newsletter that discusses possible economic collapse in Iran Items from The Economatrix: G.G. flagged an interesting article from the blogosphere that originated in Switzerland: On Banknotes. B.B. sent this: Food Prices Rose Most in 11 Months, May Climb in February Bernanke: Recovery Depends On Consumer Spending 10 Things Every …

More Quantitative Easing monetization, in England: BoE Injects $79.3 Billion More to Support Recovery Yes, debasement is coming for nickels: U.S. Mint exploring alternative metal options. Stockpile some nickels at face value now, before the composition change! (If you wait, then you will have to laboriously sort coins.) An eye-opening YouTube video on the housing crash: Folsom California On The Brink Jim Rickards: “Chaos” To Dollar Endgame “Most Likely” Items from The Economatrix: Greek Talks Falter / Sprott Offering Memorandum / Jobs Report Analysis Bernanke:  Job Market Remains Weak Despite Gains Consumer Borrowing Rose $19.3 Billion in December Dow Approaches …

For the “I Told You So” file: Romanian government collapses amid public outrage over austerity. (Thanks to B.B. for the link.) California, New York might sign on to MERS settlement Dawn S. suggested a piece with a fascinating animated stock volatility chart over at Zero Hedge: Presenting The “Rise Of The HFT Machine” – Visual Confirmation How SkyNet Broke The Stock Market On US Downgrade Day Pennies: Where are they all going? (A hat tip to Diana S. for the link.) G.G. suggested this National Review article on commercial real estate: Armageddon at the Strip Mall Items from The Economatrix: …

Gold is the Gut Reaction, Silver is the Smart Decision U.S. States Prepare For Hyperinflation Reader Sue C. suggested this piece by Rick Moran: Greece on the brink. No, really – this time for sure Items from The Economatrix: Oil Below $97 as Traders Eye Greek Debt Talks The Financial Crisis of 2008 Was Just the Warm-up Act for the Economic Horror Show That is Coming Markets, Murmurations, and Machines Gold Rises to Two-Month High, Eyes US Payrolls

G.G. flagged this: Under Twist, The Fed Has Purchased 91% Of All Gross Issuance In Long-Dated US Treasurys Sicily Pitchfork Movement in Revolt – Western Media Blackout Hunkering down, or just a lifestyle change? Jim Cameron family “intend to reside indefinitely in New Zealand and acquiring property to operate as a working farm. (Thanks to N.V.T. for the link.) And from B.B. a link to another Zero Hedge piece: Greece Warns It Will Soon Be In “Condition Of Absolute Poverty” Items from The Economatrix: Silver and the Shift To Measuring Wealth in Ounces Instead of Dollars Hiring Surges in January; …

Tax Doomsday Is Coming for Amazon Why The Bernanke Effect Has Catastrophic Long-Term Consequences Items from The Economatrix: California To Run Of Out Cash In One Month:  Controller Freddie Mac Betting Against Struggling Homeowners Why Hasn’t The Day Of Financial Armageddon Occurred Yet? Europe’s “Great Deleveraging” Has Only Just Began Silver:  $50 Here We Come

F.G. sent us this: Number of U.S. expatriates increases 16% in 2011. Diana sent us this: States seek currencies made of silver and gold Kevin C. suggested this over at Lew Rockwell’s site: Internet Resources for the International Man Items from The Economatrix: S&P Warns Cuts Loom For G20 Nations CBO:  Taxes Will Shoot Up By More Than 30% This Year Bill Gross Explains Why “We Are Witnessing The Death Of Abundance” And Why Gold Is Becoming The Default “Store Of Value” The Experts’ View On The Euro’s Future:  There Is None Oil Prices Rise After Drop In US Hiring …

Federal Reserve Action Will Decide Next Major Move For Gold Prices G.G. flagged this: More Than 750 Banks at Risk of Failure Over Next Two Years, Says Invictus Also from G.G.: Jim Grant says gold, not paper currency, is the future Items from The Economatrix: Jobless Claims Fall, Jobs Market Slowly Healing. [JWR’s Comment: But is this a genuine recovery, or just trickle-down from umpteen billions in bailouts and monetization liquidity? And meanwhile we read: Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low.] Gold Gallops 11%, …

B.B. sent this from ZeroHedge: Latest Congressional Budget Outlook For 2012-2022 Released, Says Real Unemployment Rate Is 10% Also from B.B.: Soaring Beef Prices Force Shoppers To Find Other Foods F. McC. sent this: CBO REPORT – OMG! Items from The Economatrix: 20 Signs That Europe Is Plunging Into A Full-Blown Economic Depression The Coming Economic Crisis:  This Is A Breakdown Crisis

Don’t miss this interview with Jim Sinclair: The Impending Undeclared Default of Five Major US Banks. Sinclair exposes an upcoming decision by the International Swaps and Derivatives Association (ISDA). He expects some very short-cropped haircuts on CDS derivatives. In this land of smoke and mirrors, it all comes down to terminology. What is a severe credit event euphemistically called, other than default? Sinclair anticipates a writeoff down to thirty cents on the dollar for Greek debt! A collapse in the Euro is coming .Massive bailouts are coming. Some very large banks may go under, or more likely they will be …