G.G. sent: Many baby boomers don’t plan to leave their children an inheritance Sunoco to Quit Oil Refining Business. (Thanks to F.G. for the link.) Stock Market Crash 1929, Mystery Unraveled? (The text is also available in the Dutch edition.) Items from The Economatrix: Millions of Americans Living in Long-Stay Motels Europe Stocks in Big Monday Drop US Postal Service Near Default The US Jobs Crisis Worsens Zoellick Warns of New Danger for Global Economy
Over at Dr. Housing Bubble: The California contradiction – Record high unemployment and highest home prices in the nation. Lorimer Wilson: These 100 Analysts Now Say Gold Will Go to $5,000/ oz. – or More! Michael Z. Williamson (SurvivalBlog’s Editor at Large) sent this: Should U.S. Become Biggest Landlord? G.G. sent this: Restaurants want a piece of food stamp pie Marleen from Holland recommended this news from Greece: Pensioners turn back to living off the land Items from The Economatrix: Stocks Fall Again as Europe’s Debt Worries Deepen Oil Tumbles on Fears of Economic Slump Service Firms Grew at Slightly …
Dear Sir, First, before I get started, my thanks to you for this blog and your books. I’ve invested in metals: Gold, silver, check; “Real” copper pennies, nickels, check; Lead…what? lead? Yes, lead. To me, as a reloader and bullet caster for more than four decades cheap lead in the form of Linotype and wheel weights was taken for granted. But now, with the new regulatory push from the EPA, lead will soon no longer be used as the balance weights on our wheels. This will dry up the last major source of inexpensive used lead [that is in chunks …
T.E.M. suggested: 10 ways to save money: How the old-fashioned barter system is making a comeback “Benny Flag” liked this piece by Dr. Gary North: Sovereign Debt, Sovereign Bank Runs Reader Grace H. wrote to mention: “In 1999 in preparation for Y2K, I purchased a number of DAK brand canned hams for $1.00 a piece. These 16 oz. cans were readily available everywhere. The other day my dimpled darling suggested that we needed some of those “little canned hams” in our prepping supplies. I obediently went on the search thinking that it would be easy. Nope! Few stores around me …
A recent news headline caught my attention: Representative Maxine Waters Calls For A Trillion-Dollar Jobs Program. After reading that I feel obliged to make a few sarcastic comments. (A privilege that I don’t abuse through over-use, as the editor of SurvivalBlog.com): Well, gosh, Maxine, if your “spending money that we don’t have creating wonderful economic prosperity” concept is so iron-clad, then why not go whole hog by pouring even bigger buckets of slop into the public trough? Why not spend $20 trillion to create zero unemployment? There would be jobs for everyone. We could develop whole new categories of jobs! …
B.B. sent this: Economist Calls Entitlements A Massive Ponzi Scheme And Says US Is Actually $211 Trillion In Debt Dan H. suggested this NPR piece: Switzerland: Too Strong For Its Own Good Euro’s Future—When Will Rioting Start? (Thanks to Ben S. for the link.) European Stocks Fall Sharply as Debt Fears Hit Banks Items from The Economatrix: Government Doubles Layoffs Illusion of Stable Currency Vortex Why Gold is Going to $2,000/oz. By The End of September Self-Employed Struggle as U.S. Recovery Offers Few Opportunities Even Goldman Sachs Secretly Believes that an Economic Collapse is Coming
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 …
Jim: I would like to address a few of the insightful comments to my original submission: A Treasure Hunting Prepper. Mr. Fitzy in Pennsylvania is correct about his instruction on filling in holes when metal detecting. It is true that some parks can become closed due to irresponsible detectorists, but I would assume that it is common sense amongst those born with it to not leave holes! That, unfortunately, is not always the case. For instance, a local park that a metal detecting club my dad and I belonged to decided to make it against the rules to metal …
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 …