USPS warns of default on retiree benefits. Recession-proof waste management industry: Down in the dumps. (Thanks to Haiti Guy for the link.) Comin’ this summer… $5 gas Items from The Economatrix: US Consumers in Spending Retreat 20 Questions to Ask Anyone Foolish Enough to Believe the Economic Crisis is Over Second Biggest Weekly Drop Ever in Treasurys Held in the Fed’s Custodial Account as Foreigners Dump Why Gold is Going Higher
The ultimate tangible? Currency Devaluation in Belarus Causes a Run on Toilet Paper (Thanks to G.P. for the link.) Housing Apocalypse Tomorrow – 675,000 homes in foreclosure have made no payment in over two years. Consumer spending, income drop as inflation accelerates. (Thanks to C.D.V. for the link.) Items from The Economatrix: Gas Tanks Are Draining Family Budgets Rising Consumer Confidence Lifts Stocks April Consumer Spending Shows Weak Gain Nine Ways That The World Has Gotten Even Crazier in May 50 Things Every American Should Know About the Collapse of the Economy Glut of Foreclosed Homes Threaten Market US Worse …
Peter Schiff: “You are going to see riots in the streets”. (Thanks to Bob G. for the link.) Fed Gave Banks Crisis Gains on $80 Billion Secretive Loans as Low as 0.01%. (Thanks to Pierre M. for the link.) C.D.V. forwarded this item: Foreclosure sales slow, but remain very high Huge backlog of distressed properties means any housing recovery is a long way away. Here is a brief quote: “Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales — a share …
A foretaste of life in the U.S. in the near future?: Belarus devaluation spreads panic. On the same topic, Tyler Durden of Zero Hedge posted some commentary and a scary “hockey stick” currency chart: Welcome To Hyperinflation Hell: Following Currency Devaluation, Belarus Economy Implodes, Sets Blueprint For Developed World Future J.B.G. sent this: Greece risks ‘return to drachma’ World Bank Predicts the Demise of the US Dollar by 2025 Items from The Economatrix: Stocks Likely To Face Bumpy Ride Into Summer Gas Prices Dampen Memorial Day Vacations States Shorten Duration For Unemployment Benefits What Is Behind Europe’s Stock Market …
As the saying goes “preventive medicine is the best medicine”, this can be said for many aspects in life. Why wait until something happens to fix it? Why not perform proper maintenance procedures so you don’t have to fix it? Frankly, before I became a prepper, I’ve always found this approach to be best. It can save you time, money, frustration. Even if something is going to break no matter what, with preventive procedures, you can sometimes see it coming, therefore fixing or changing a part. From a prepper’s perspective, preventive measures are a necessity. The U.S. military puts an …
Ah, yes, the inevitable rush into tangibles: Belarus snaps up TVs, fridges as ruble plunges. (Thanks to Diana V. and Jay H. for the link.) QE2 was a bust. (A hat tip to John R. for the link.) Linda U. sent this report from Texas: Record farming, ranching loss seen. (Stock up on cotton socks and jeans, since cotton prices are likely to skyrocket in 2012.) Why The “Is QE 3 Coming?” Debate Is A Moot Point. (Thanks to John R. for the link.) Items from The Economatrix: Eurozone Woes May Boost Gold Foreclosure Flood May Not Have Crested Yet …
Money Magazine: Another Economic Crisis Coming. (Thanks to J.B.G. for the link.) Seniors Have Lost 32 Percent of Their Buying Power Since 2000 Reader Robert H. recently found this message waiting for him when he re-visited an Internet shopping site, after a three month absence: “Please note that the price of Great Lakes Select Honey, Clover, 32-Ounce Bottles (Pack of 3) has increased from $16.75 to $23.08 since you placed it in your Shopping Cart. Items in your cart will always reflect the most recent price displayed on their product detail pages.” (That is a 37% increase!) Items from The …
Matt R. sent this: Greece default fears rise as reprofiling talk flounders Deputies confiscate 250 pounds of copper during exchange Bank of America to give away houses. (Thanks to KAF for the link.) Kirk Elliot puts the unemployment rate in proper perspective. Items from The Economatrix: Greece on Verge of Defaulting What Destroyed Rome Was Its Unfunded Government Employee Pensions US Stocks Plunge On European Debt Worries What Happens When Greece Defaults BoE Chief Warns Of More Tough Times
Boosters suggested a 2009 documentary that is now available free on YouTube: Why Gold & Silver?. This is a great video that features commentary from experts like Mike Maloney, Robert Kiyosaki, Congressman Ron Paul, David Morgan, Jason Hommel, James Turk, Bill Murphy, and even the irascible Mogambo Guru (Richard Daughty). BTW, this is a great video link to send to your relatives who scoff at hedging into precious metals and other tangibles. David D. liked this piece by Paul Krugman: Making Things in America Our friend Kevin S, sent this from Lew Rockwell’s site: Libertarianism versus Statism Also from Kevin …
Reader C.D.V. suggested this article: World Bank Sees Dollar Reserve Status Ending Over Next Decade. E.M.B. forwarded this: Death Derivatives Emerge From Pension Risks of Living Too Long Richard Koo Explains Why an Unwind of QE2, with Nothing to Replace it, Could Lead to the Biggest Depression Yet Check gambit makes Coos Bay [Oregon] man a felon. (Thanks to D.B.C. for the link.) Items from The Economatrix: Home Sales Fall Despite Uptick in First Time Buyers Ahead Of The Bell: Leading Indicators Seen Rising Predicting the Future Gold Price Misses the Point Senate Bill Would Limit Savers Using 401(k)s as …
Photo of an Obamaville. Loyal contributor John R. sent us a capacious pile o’ links: Paul Ryan Speaks on the “Catastrophic Trajectory” of US Debt – ZeroHedge Our Peculiar State of Suspended Animation – Charles Hugh Smith What Will Happen When QE2 Ends? – Dave Cohen Obama’s debt-limit truth-twisting – Stephen M. Meister Kicking the Can to the End of the Road – John Mauldin Social Security ‘Trust Fund’ to Add $5 Trillion to Debt – Investors.com Items from The Economatrix: Stocks Follow LinkedIn IPO Higher Commodity Rally Sends Stock Indexes Higher Central Banks Snap Up Gold in First …
More than a dozen blog readers suggested this must read piece: Hedge Farm! The Doomsday Food Price Scenario Turning Hedgies into Survivalists. Here is a quote from the article: “When asked if this is an end of the world scenario, the hedge-fund manager replied, “It really is. I tell my fiancée this from time to time, and I’ve stopped telling her this, because it’s not the most pleasant thought.” Reader Stephen M. wrote to mention: “One of my favourite indicators as to economic health is the Baltic Dry Index. It is simply a measure of the shipping costs to move …
Michael Z. Williamson (SurvivalBlog’s Editor at Large) sent this: George Soros dumps $800 million gold stake. (JWR Adds: Don’t be surprised if Soros quietly buys back in to the market, this summer. He is famous for trying to move markets, and later capitalizing on those moves. ) Is Another Housing Crash Coming? Oil prices fall on disappointing economic data Ted in Nashville sent this: Abandoned Houses Leave Neighborhoods in Limbo Foreclosures Prompt Four U.S. Cities to Sue Banks for Mowing, Home Repairs. (Thanks to Vitus for the link.) Items from The Economatrix: US Homebuilding, Manufacturing Slump in April World on …
Jeff Harding warns: The Economy is Sliding Into a Stagflationary Spiral Some talking hipster robot apocalypse, by way of Club Orlov: “What will a post-collapse society look like?” and How can we prepare for the collapse? Rigged-Market Theory Scores a Perfect Quarter: Jonathan Weil. (Kudos to Kevin S. for the link.) Sig mentioned: Three Reasons to Believe in $100 Oil Items from The Economatrix: Silver and Disasters Double-digit Inflation Has Arrived US Builders See Little to Like in Housing Market
Does this sound familiar?: Treasury to tap pensions to help fund government. It is notable that the mass media is presently full of headlines about a banking official arrested for rape. But who is going to bring Tim Geithner to justice for raping millions of taxpayers? (On a similar note, SurvivalBlog reader R.E.T. wrote to mention: “If a private company did this, it would rightly be called theft and the CEO would go to jail.” The Daily Bell interview: David Morgan on the Global Economy, Inflation, Recession and Where Silver Is Headed. File Under “Sweet Irony”: No, it’s not a …