The Monetization of Lumber National 17.5%, California 22% Global Food Crisis Forecast As Prices Reach Record Highs Fed looks set for new round of monetary easing From Zero Hedge: A Quick Glance at Real World Inflation The chart says it all. The official hedonic-adjusted inflation figures are laughable. Federal Reserve Asset Buying May Reach $2 Trillion, Goldman’s Hatzius Says
Dollar Selloff Is Going ‘Too Far, Too Fast’: Strategist. (Thanks to Susan H. for the link.) Greece Likely to Default Within Three Years, El-Erian Says Seal Beach home from a price listing of $2,900,000 to selling for $900,000. Chasing the housing market down. Could someone be expecting a market crash? Watch the smart money: Insider Selling Volume at Highest Level Ever Tracked. (Thanks to Jonathan C. for the link.) Items from The Economatrix: Stocks Eke Out Gains On Mixed Earnings Consumer Confidence Rises Only Slightly in October Steel Industry’s Outlook Gloomer on Slower Growth Foreclosures Push Home Prices Down in …
TIPS Inflation Bonds Get Negative Yield for First Time Bernanke Asset Purchases Risk Unleashing 1970s Inflation Genie Germany Calls Out Geithner’s Hypocrisy, Says Money Printing Is FX Intervention Dollar At Risk Of Becoming “Toxic Waste” Oil Could Hit $100 Barrel Soon, Says JPMorgan Coffee at 13-Year High, Sugar Surges Rising Cost of Kimchi Alarms Koreans Global food crisis forecast as prices reach record highs
James Wesley, You recently posted this article: Seven banks closed in Fla., Ga., Ill., Kan. Remember something we’ve been trying to focus on? Watch closely for banks for which the FDIC cannot find a buyer. Read closely… in that article there were a couple banks that were only partially purchased by other banks. The FDIC held on to some of the liabilities of some of the banks. The real zinger is the First Arizona Savings bank – completely shut down, no buyer, no more bank. The FDIC is sending checks to those customers (hope you didn’t have more than $250,000 …
City drowning in rubbish: 10,000 TONS of waste pile up on streets of Marseilles in chilling echo of British ‘winter of discontent’ Items from The Economatrix: Pension Age Increases to Get Far Worse Default or Hyperinflation: The US’s Only Two Options (The Mogambo Guru) In 15 of Last 25 Months, The Treasury Needed to Borrow Money for Social Security Benefits Gold Advances as Dollar’s Decline Spurs Demand for Alternative Investments Soc Gen’s Albert Edwards: The US Public is About to Revolt
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 …