Kelli C suggested: 99 Weeks: When Unemployment Benefits Run Out Jay B. flagged some “Scary New Wage Data” from Tax.com B.B. sent this: Dollar at Risk of Becoming ‘Toxic Waste’: Charts Also from B.B.: Treasury Shields Citigroup as Deletions Undercut Disclosure Puru speaks: The US Dollar is doomed. (Thanks to Brett G. for the link.)
R.F.J. sent a piece about the far-reaching effects of China’s embargo of rare earths: You Don’t Bring a Praseodymium Knife to a Gunfight Sue C. forwarded this: Fed’s Fisher: Policy Makers Must Be Aware of Dollar Impact B.B. suggested this piece by Bob Chapman: We See Totally Surreal Markets Thanks to Susan O. for this one: 75 Ways That The Government And The Financial Elite Will Be Sucking Even More of the Life Blood Out of the American People in 2011
Wiedemer: Inflation on the Way Despite Deflation Fears Carlos in the U.P. wrote: “I noted with interest that the Wal-Mart I shop at had cleared the shelves of “Great Value” brand coffee in 39 oz cans for about 2 weeks. Today the new can appeared, with the following differences: 1.) Can is now 33.9 oz, down from 39 oz. Also conspicuously missing is the conversion of 2lb, 7oz therefore no comparison in pounds is easily made. 2.) Price for this smaller can is up from $9.88 to $10.48, by my rustic math an approximate 20% increase! 3.) Contents of can …
Gold Will Explode Higher as the U.S. Dollar Bubble Bursts KAF sent: Five U.S. States with Pension Time Bombs Items from The Economatrix: Fannie, Freddie May Need Another $215B in Aid Fraudclosure: The End Run Americans Growing More Pessimistic About the Economy The US Dollar is Doomed The US Must Prepare for Savage Austerity
From the UK: Coins fall prey to spending cuts. JWR’s Comment: Well, actually, this is just a sign of gradual currency inflation by the government. When even base metal coins have a value that exceeds their face value, then it is obvious that the people are being robbed by their government. The same situation exists in the U.S., where a five cent piece (the “Nickel”) costs seven cents to produce, and has a melt value of more than six cents. Currency inflation is robbery, in slow motion. The government is the perpetrator, and you are the victim. Destroying the purchasing …
From The Daily Bell in Switzerland: The West’s Pending Paper Money Implosion M.B. sent this: Here Are The Next Countries to Announce a Currency Intervention Also from M.B.: The Real Underemployment Figure is 22.5% Why California is About to Fall Off Into an Ocean of Unpayable Debt Items from The Economatrix: Martin Weiss: G-20 Heads Up: Losing Battle To Stem Currency Wars Tab For Fannie, Freddie Could Soar to $259 Billion Jobless Claims Fall to 452,000, But Remain Elevated Mortgage Rates Rise to 4.21% From Decades Low Natural Gas Prices Tumble as Supplies Grow America’s Bright Future After US Treasury …
J.B.G. sent this: Officials hint Fed on the verge of more easing. Thanks to S.M. for sending this bit of confirmation to an earlier report: China Said to Widen Its Embargo of [Rare Earth] Minerals Sue C. sent: 11 state pension funds that may run of out money Items from The Economatrix: Gerald Celente: “We Are Living On Borrowed Time” Reaching For Yield In The Bond Market (The Mogambo Guru) Dollar Declines for Fifth Straight Week on Prospects of More Monetary Easing By Fed Say Good-bye To Traditional Free Checking Silver On The Move Silver Shipments From China, Biggest Exporter, …
KAF flagged this: Pimco sells US Treasuries ahead of QE2 Siggy sent this: Fed Needs to Pump Trillions More Into Economy: Analyst Foreclosure Mess: The Price Tag for Big Banks Banks listing foreclosures at 30 percent off peak prices. From a $1.5 million home to $630,000. Items from The Economatrix: Not So Golden Years: Rise In Capital Gains And Dividends Would Hit Seniors Hard Martin Weiss: Gutting The Dollar Is Now Official Money Printing Set To Devalue Every Dollar You Own Martin Weiss: Two Game-Changing Decisions Bank Stocks Push Market Broadly Higher; Dow Up 81 Industrial Production Falls 0.2% In …
Wal-Mart Jacking Up Prices Worldwide Hyperinflation Race Soaring prices threaten new food crisis. Shocking Corn Prices–The Other Rising Gold Market and Cotton prices surge to 140-year high and Copper price up sharply… and these are just the “C”s! Industrial Metals Price Tally Up, up, up!
James: On September 25, 2008, you posted some economic collapse indicators to watch for. I am interested to learn if you have any updates/changes/additions to these indicators. Thank you. – D. in Arizona. JWR Replies: I don’t have any significant changes to that list. Ominously, one of the last items on my list ,”The Treasury starts to extensively monetize debt” has recently been announced, under the euphemism “Quantitative Easing”. Speaking of which, several readers sent us this article from Forbes: magazine: QE2 actions will lower dollar and raise gold. That, dear readers, is massive monetization, by any other name! Be …
John Williams Warns of “Severe and Violent Sell-Off in Stocks” (Thanks to G.G. for the link.) Desperate for revenue: Local Property Taxes Soaring in New York. The Daily Bell editors ask: As Goes Iceland, so Goes the EU? N.I.M. flagged this item in the New York Times: Bernanke Weighs Risks of New Action. Any attempts are injecting new liquidity are futile. The U.S. Dollar will be wrecked by the Fed’s policies. My advice: Continue to buy silver on the dips! Items from The Economatrix: 24 Statistics About the US Economy Embarrassing to Admit Global Illusions Stemming From Money Printing Robo-Signing …
Hi Jim, I spent two years as a security technician for a major armored car company. The idea that banks have silver coins in their circulation is quite remote. Banks get most of their coins from a Federal Reserve coin center pre wrapped and counted. All silver coins, Mexican, Canadian and other coins are thoroughly separated. I have been in one of these Federal Reserve centers and believe me they literally had buckets full of foreign coins. Any silver coins found in a bank would have to come from some local citizen spending them in a local store. Returned to …
B.B. mentioned a piece by Charles Hugh Smith: The Coming Collapse of the Real Estate Market Siggy sent: The Case for America’s Future by Gary North SurvivalBlog’s Editor at Large Michael Z. Williamson notes that the oft-cited animated recession map was updated again last week. This is really looking grim. More FDIC Friday Follies: Three more banks bit the dust on Friday. This time the announcement was two banks in Missouri and one in Kansas. Items from The Economatrix: K.A.F. flagged this: US Cities Face Half a Trillion Dollars of Pension Deficits Dollar Keeps Falling As Investors Await Fed Action …
From the NIA: Inflation to Make All Americans Billionaires By 2020 Bernanke Sees Case for `Further Action’ With Too-Low Inflation Peter Schiff: “It’s Scary How Clueless Bernanke Is” Veteran economic observer Howard J. Ruff chimes in on inflation.
After college (in the early 1990s), I was educating myself about finance even though I was not employed in that industry, I felt that if I was going to be responsible for my own financial well being during life I better start my education. I learned quite a bit, but failed to act on any of the information. I was constantly seeking more and more info, then I had a series of jobs changes and got married, our first house and hence missed the “dot com” stock rally on all levels. Looking back I associate this with information paralysis. Lesson: …