Category: Economics & Investing

We Are in ‘Worse Situation’ Than in 2008: Roubini. (Thanks to Neil H. for the link.0 S.M.O. sent a link to some astute observations by Jeffrey Snider about what he calls a silent run on fiat currencies: Ghosts of Lehman And a Budding Bank Crisis. U.S. Debt Held by Public Tops $10 Trillion for First Time—Up 59 Percent Under Obama Federal, State, and Local Expenditures as a Share of GDP at WWII Levels. (Thanks to G.G. for the link.) ‘Houseboats’ for Rough Economic Waters G.G. sent this: Chart Shock: The Real Unemployment Rate is 22% K.A.F. liked this humorous piece …

Gold is for Wealth Preservation and Silver is for Bartering K.A.F. sent this: US Department of Energy devises security system to thwart rampant copper thefts G.G. flagged this: US economy created no job growth in August, data show: First time since 1945 that government has reported net monthly job change of zero Steve K. forwarded this: The Future of the European Union May Be Decided in Less than a Week Gold wedding bands get dumped for tungsten. (Thanks to R.B.S. for the link.) Items from The Economatrix: Natural Gas Rises as Power Demand Returns to East Double-dip Fears Across the …

G.G. flagged this: Belarus Hyperinflation Update: Food Runs Out As Friendly Foreigners Take Advantage Of The “Favorable” Exchange Rate Arb John R. sent this: Analysis: As debt maturities loom, U.S. needs to extend Also from John: Fearing An Even Worse Inflationary Depression Ahead (Bob Chapman) Reader Hal C. sent this link: John Williams of ShadowStats interviewed by Goldseek. He is predicting hyperinflation. B.B. suggested: Maple Leaf sets silver record: 2010 bullion sales rise 74% from 2009 Items from The Economatrix: After Bumpy August, Economy Shows Signs of Growth Retailers Report Solid Gains For August Carmakers Report Surprisingly Strong August Sales …

K.A.F. sent this: Awful August, Get Set for September Over at Dr. Housing Bubble: Shadow Inventory Armageddon – Foreclosure timeline up to an average of 599 days with 798,000 mortgages having no payment made in over 1 year and no foreclosure process initiated. Shadow inventory grows to over 6,540,000 properties. Making privacy a crime: U.S. aims to track ‘untraceable’ prepaid cash cards. (Thanks to Steve M. for the link.) China’s sword of Damocles: “More Cow Bell!”. “More kowtow!” Forget Irene: The Drought in Texas Is the Catastrophe That Could Really Hurt. (Kudos to Chris M. for sending the link.) Items …

G.G. flagged this: Belarus Hyperinflation Update: Food Runs Out As Friendly Foreigners Take Advantage Of The “Favorable” Exchange Rate Arb John R. sent this: Analysis: As debt maturities loom, U.S. needs to extend Also from John: Fearing An Even Worse Inflationary Depression Ahead (Bob Chapman) Reader Hal C. sent this link: John Williams of ShadowStats interviewed by Goldseek. He is predicting hyperinflation. B.B. suggested: Maple Leaf sets silver record: 2010 bullion sales rise 74% from 2009 Items from The Economatrix: After Bumpy August, Economy Shows Signs of Growth Retailers Report Solid Gains For August Carmakers Report Surprisingly Strong August Sales …

Reader J.B.G. recommended this by Ambrose Evans-Pritchard: When debt levels turn cancerous Douglas C. mentioned that FDIC’s aggregated list of bank closures is available. At the web site, you can sort by date and by location. Troy H. sent this: Democratic Discontent, Black Swans, Constitutional Conventions, and Civil or Foreign Wars Items from The Economatrix: The American Working Man Slowly Fades Away Housing Time Bomb Goes Tick Tock Tick Tock Stocks Rise on Hopes for More Stimulus From Fed Oil Rises as East Coast Refining Resumes

The Next Banking Crisis Starts Here The latest Calvin and Hobbes cartoon (August 30, 2011) sums up the prevailing attitude in modern-day America. (Thanks to P.D.K. for the link.) Chuck from The McAlvany Intelligence Advisor pointed me to a special report series, where CNBC belatedly wakes up about the bull market in gold. Items from The Economatrix: Irene Likely to Lead to Higher Insurance Premiums Euro Bailouts in Doubt as “Hysteria” Sweeps Germany Three Years After Lehman, a New Debt Crisis Looms Fear Sets In, Panic Begins, Ruin Perceived, Prepare for Gold $2100

Mr. Rawles: When making a quick run to the grocery store to take advantage of some sales, I was amazed at the rise in some of the prices.  The same can of salmon that I purchased for $1.00 in preparation for Y2K was on sale for $2.69 – a “savings” of 90 cents from the normal retail price.  The same bag of sugar that I purchased for about $1.29-1.59 was $4.69.  So, I went out on the Internet to see what has gone on.  Here are several charts I found on MongaBay.com that show the alarming rises in the price …

Over at Forex Crunch: Dark Clouds Over European Banks Euro bail-out in doubt as ‘hysteria’ sweeps Germany. (Thanks to J.B.G. for the link.) B.B. suggested this article: German minister warns of seven-year global recession David H. sent this: Commentary Lays Bare the Problems of Qualitative Easing…and The Banks K.A.F. liked a piece by Ron Paul, over at the Fox News site: Bernanke Is Out of Options to Save Economy G.G. sent this: More people having to delay retirement: The number of Britons forced to delay retirement into their late 60s and beyond has doubled over the past year as the …

R.B.S. spotted this: Big Changes Afoot at U.S. Mint? The articles begins: “The year 2013 might go down in the annals of numismatics as significant as 1933 when gold coinage was suspended or 1965, the year copper-nickel began to displace the former silver coinage.” Got your nickels yet? J.B.G. sent this: Market crash ‘could hit within weeks’, warn bankers Martin P. sent this: Economic Stabilization Fund. Items from The Economatrix: The Upside for Gold and Silver Will Knock Your Socks Off 3-2-1 Global Meltdown Do The Maths

We’ve been warned: the system is ready to blow Reuters reports: Home Depot, Walmart, grocers get boost from Irene. (Thanks to M.W. for the link.) Some wise folks are buying on the dip: Sudden Temporary Gold and Silver Price Drop; Retail Sales Soar. (A hat tip to R.B.S. for the link.) A whole bunch of news, courtesy of John R.: In An Unsustainable System, A Warning of Collapse (Bob Chapman) Panic & Anxiety Swirl a Storm (Jim Willie) Banks face $340 billion state-backed bond refi hole (Helene Durand)   Big Banks: Under-Capitalized, Overexposed, Opaque(Barry Ritholtz) “A Wolf In Sheep’s Clothing” …

G.G. sent this: New-home sales fall, 2011 could be worst year yet USA Becomes Food Stamp Nation G.G. flagged this: CBO: Federal deficit will hit $1.3 trillion SSG Tom mentioned: Forget stocks; buy food Items from The Economatrix: Int’l Oil Higher On Supply Concerns Higher Durable-Goods Orders Ease Economic Worries Japan Credit Rating Downgraded Over Deficit Few Think Bernanke Speech Will Signal Major Action

Reader Tom C. wrote to mention an inflation data point: He noticed that half gallon bottles of lamp oil selling at Wal-Mart just jumped from $4.97 to $5.97 in one week–about a 20 percent increase. Morgan Stanley borrowed the most in financial crisis. ($107.3 billion in one month, with no public disclosure!) Gil Morales and Chris Kacher QE3: Top 8 Reasons Gold Goes Higher. (Thanks to Steve H. for the link.) US Government Asset Seizures On The Rise. (A tip of the hat to Stephen M. for the link.) Over at Fierce Finance: Layoff misery on Wall Street just getting …