Category: Economics & Investing

This McAlvany podcast interview is a must: Bill King Interview:  Europe is the Detonator – The U.S. is the Bomb. King points to the collapse of socialism in western countries as the core of the collapse that started in 2009, and derivatives as the biggest risk. Reader Stephen M. mentioned that The Economic Collapse blog posted a good summary of the US national debt situation. Here is a key quote: “If we do raise the debt ceiling, that will ‘kick the can down the road’ a little bit farther. However, world financial markets will still crash eventually and our eventual …

You might not have noticed that the US Dollar Index has been falling recently. (At 74.77, the last time I checked.) Hmmmm… With all the turmoil with the EU periphery, common sense would dictate that the US Dollar should be appreciating rapidly versus the Euro. But it isn’t. So what is the real story, behind the news? I suspect that the US Dollar is in for some very deep trouble in the next few months. Steven M. sent this from Zero Hedge: After Dumping 30% of its Treasury Holdings in Half a Year, Russia Warns it Will Continue Selling US …

James, One of your SurvivalBlog Glossary entries deserves some comment. A Limited Liability Company (LLC) gives you as much or more protection from liability as a corporation, but passes profit through to your personal taxes like a 1099 independent or a subchapter S corp.  However, unlike a corporation, once you file your ‘Articles of Organization,’  in most states your LLC has no more paperwork requirements some states require an annual status report, but it is solely for informational purposes and has nothing to do with the IRS or other government agencies except to notify the IRS how you choose to …

Ron Paul: Federal Reserve’s Addiction. (Thanks to C.D.V. for the link.) Sue C. sent us this: Greek Default Would Spell ‘Havoc’ for Banks. KAF flagged this: Russia to Lower U.S. Debt Holdings John T. recommended this analysis by Martin W. Armstrong: Greece: Its Time to Default Before Civil War Breaks Out Items from The Economatrix: Gold And Silver Still Great Investments in Inflation, Stagflation, And Deflation The Systematic Financial Pillaging of the Middle Class Unemployment Falls in Fewer than Half US States

Reader J.H.B. suggested: Its Weight in Gold: The Real Prices of Things by Charles Vollum Trading Of Over The Counter [FOREX] Gold And Silver To Be Illegal Beginning July 15 Record Corn Harvests Can’t Meet World Demand. (Thanks to Steven M. for the link.) Kevin S. recommended this: Unlocking the Mayor Badge of Meaninglessness “The Toon” sent us this: Are We Running Out of Silver? Items from The Economatrix: Greek Crisis Could Send World Markets Into Turmoil Greece Nears Point of No Return In a Currency Tug-of-War, the U.S. Dollar Loses MERS Does Not Have The Right to Foreclose on …

Six minute of must-watch video with Dylan Ratigan: Jim Rogers warns: Get prepared! Just I warned you, the 46 cash-strapped States are finding creative ways to raise revenue: Downloads and drugs taxed under new Rhode Island budget plan. (Thanks to John E. for the link.) Fake Bars: “Federal investigators say tungsten filled gold bars and lead filled silver bars have started to circulate in the U.S.”  (Thanks to C.A. in Oregon for the link.) A recent essay by Michael Pollaro: US government’s fiscal state worsens, DC politicians fiddle   Items from The Economatrix: “Greece on the Edge of a Precipice” …

Greece Credit-Default Swaps Surge to Record 2,189 Basis Points, CMA Says. Oh those derivatives, again. P.R.D. suggested this: Is the Fed Insolvent? Scott M. found a facebook page devoted to the logic of saving nickels: Stacking Nickels. IMF Cuts U.S. Growth Forecast to 2.5%. (Thanks to Steven M. for the link.) Adam B. sent this: Greek Bailout Leaves the French Unruffled While German Politicians Seethe Items from The Economatrix: Inflation Slows In May as Gas Prices Fall Eric Sprott:  We’re Headed Over a Cliff, Be Wary of Paper Assets Failure To Raise Debt Ceiling Could Result in Severe Market Disruption. …

Reader Sue C. sent us this: Don’t Look Now, But Stagflation May be Here KAF flagged this: Economy faces weaker growth, higher prices BG sent this from the WSJ: The Economy is Worse than You Think. Items from The Economatrix: Priced In Gold, The Median Home Price Is Down 80% Many Of Us Won’t Be Able To Retire Until Our 80s Worsening Greek Debt Crisis Sinks Stocks, Euro Late Credit Card Payments Hit Pre-Recession Levels

PG&E Hit Hard By Antioch Copper Thefts. (Thanks to K.A.F. for the link.) Digging Into the U.S. Budget: What We Spend, and How SurvivalBlog’s G.G. kindly sent three links: Jim Jubak: The Coming Global Financial Crisis Central Bankruptcy: Why QEIII Is Inevitable Number of U.S. Expatriates Continues to Soar Items from The Economatrix: Report Points to Lower Food Prices, More Hiring Mainstream Media Signals Economy Getting Bad Dr. Gary North: The Next Financial Crisis Zombinomics And Volatility

Loyal contributor C.D.V. sent this: US Housing Crisis Is Now Worse Than Great Depression Sovereign Man asks: What are the Social Implications of Economic Collapse? (Thanks to James C. for the link.) Nancy N. sent this: Roubini Says “Perfect Storm” May Clobber Global Economy. I love hearing mainstream market analysts go wild talking gloom and doom. C.D.V. sent this: Gold to Reach $5,000 Due to Supply Shortage: Report An exhaustive report by Standard Chartered predicts that gold will more than triple to $5,000 an ounce because of a lack of supply, not just because of a surge in demand that …

C.D.V. sent this alarming article: US Is in Even Worse Shape Financially Than Greece: Gross. JWR’s comment: Default may be delayed, but it looks inevitable! The latest from Tyler Durden at Zero Hedge: The Fed’s $600 Billion Stealth Bailout Of Foreign Banks Continues At The Expense Of The Domestic Economy, Or Explaining Where All The QE2 Money Went. (Thanks to C.R.W. for the link.) Sue C. suggested: Goodbye Recovery, Hello Recession. Sue’s humorous comment: “Wish I had noticed when we came out of the recession.” Also from Sue: “Meaningful probability” of a China hard landing: Roubini A.N.R. sent this bit …

G.G. flagged this bit of government spending orgy news: Federal budget deficit on track to eclipse $1 trillion for third year. How long do they think they can continue to do this without destroying the U.S. Dollar? L.M.W. sent this: Why We Are Facing an Inflationary Depression Hathaway Confirms Gold to Trade in the Five Digits An interesting piece over at FOREX Crunch: We Have A Volunteer For Greek Losses Items from The Economatrix: Example How Gold Can be a Debt Protection China Warns US Debt-default Idea Is Playing With Fire US Hurtles Toward System Failure Death By Debt Global …