Category: Economics & Investing

Long-time content contributor P.D. forwarded this link: Austerity In America: 22 Signs That It Is Already Here And That It Is Going To Be Very Painful Analysis: What is Plan B if China dumps its U.S. debt? (Thanks to Sue C. for the link.) From SurvivalBlog’s Poet Laureate George Gordon comes a link to a piece by Tyler Durden: US Mint Reports January Silver Sales Hit 26 Year High Ballmer, Blankfein Invited by Obama to Hu Discussion on Business in China Items from The Economatrix: Obama Push For China Currency Changes Could Cost US Consumers   Housing Market’s Plunge Passes …

John R. suggested this piece by Marty Weiss about municipal bonds: New Debt Crisis Striking RIGHT NOW! Dave C. sent us this: Why supermarket stocks are getting squeezed EMB flagged this: MERS Minus A Few Bricks…. 10 American Companies That Will Disappear in 2011 Items from The Economatrix: The Truth About Money, Silver & Gold   Will This Be The USA In 2012?   Doom & Gloom: Food Riots   2011 Will Top 2010 Record of One Million Foreclosures   States Eye “Sin” Taxation as Salvation for Budgets

Disclaimer:  This  article represents the opinions of one individual.  Keep in mind my views are more extreme than the mainstream.  For example, I am anticipating significant worldwide financial upheaval in 2011, which could include any combination of collapse and bailout of European economies (Ireland, Spain, Portugal, Greece, or Italy); devaluation or collapse of the Euro; loss of faith in the US Dollar as a worldwide trading tool (note that Russia and China recently agreed to price trade deals in their sovereign currencies, not dollars); further “bailouts” and “Quantitative Easing” in the US Economy;  and widespread municipal bond and municipal pension …

Sue C. suggested this: The Black Swan Events of 2011? RVL sent: Record $14 trillion-plus debt weighs on Congress. The article begins: “The United States just passed a dubious milestone: Government debt surged to an all-time high, topping $14 trillion — $45,300 for each and everyone in the country.” Thomas Sowell: Honest Answer to Government Woes is Bankruptcy Wait for complete package on debt crisis: Merkel Weak Dollars and Strong Commodities? (Thanks to John R. for the link.) Items from The Economatrix: Homelessness Increases As Help Decreases   10 Things That Would Be Different If The Federal Reserve Had Never …

A chart published by The Financial Times says it all: America: Paydown problems You’re insane if you don’t own gold, investors told Muni Bonds Crashing For Third Straight Day, And This Is The Worst Yet. (A hat tip to Yishai for the link.) John R. sent this by Gonzalo Lira: Why Democracies Will Always Go Bankrupt The Latest Gold Fraud Bombshell: Canada’s Only Bullion Bank Gold Vault Is Practically Empty. (Thanks to Michael H. for the link.) Items from The Economatrix: At Least 10 States Have Introduced Gold-As-Currency Bills Industrial Production Rises By Most in Five Months   Holiday Spending …

Cost to Make Penny and Nickel Rises for US Mint. It now costs the U.S. Mint 9.22 cents to produce a nickel! Build your pile now, before the coin composition changes! (If you dawdle, then you’ll have to sort coins. And once the base metal value exceeds 2x face value, nickels will be driven out of circulation by the general public.) Illinois Lawmakers Pass 66 Percent Income Tax Increase Ben S. was the first of several readers to send this: Housing Market Slips Into Depression Territory Items from The Economatrix: S&P, Moodys Both Warn On US Credit Hard Times In …

In Entitlement America, The Head Of A Household Of Four Making Minimum Wage Has More Disposable Income Than A Family Making $60,000 A Year. Moody’s warns US, Europe countries on rising costs 25 Hard Questions That You Will Not See Asked On CNN, MSNBC Or Fox News. (Thanks to J.D.D. for the link.) More banks and servicers walk away from properties Items from The Economatrix: Gerald Celente:  Internet Nuke Bomb Waiting To Go Off   Virginia Creates Subcommittee To Study Monetary Alternatives In Case Of Terminal Fed “Breakdown”  Real Silver Highs Stocks Dip After Unemployment Applications Rise   Over 1 …

Greetings Mr. Rawles, While I believe Survivalblog readers are by-and-large sharp gold-buyers as opposed to naive gold-sellers, I thought I would pass along the experience my local bullion dealer had with one of those “We Buy Your Unwanted Gold!” outfits that came to town last weekend. They specifically solicited numismatic coins and of course promised to pay top dollar. Following the normal modus operandi, this company ran full-page ads in the local paper on Saturday and Sunday and rented space to set up shop in a local motel. Add to this the travel, lodging, and salary expenses of their employees …

Reader Joe K. pointed me to piece by Lee Rogers that echoes something that I’ve been recommending for the past three years: Investment Of The Century: U.S. Minted Nickels. John Williams Eyes Gold as Insurance Against Hyper Inflation Armageddon Why Interest Rates Keep Rising, Despite QE2 Steve H. sent this: Smaller corn, soybean crops send prices surging Bailouts Postponed, But Can’t Prevent the “Greatest Depression,” Gerald Celente Says. (Thanks to J.D.D. for the link.) Items from The Economatrix: UK:  Petrol Prices To Hit Six Pounds A Gallon   “Our Savings Have Vanished – We’ve Lost Everything”  EMU Debt Crisis Edges …

Inflation Flies Up, Up, And Away   Downsized! More and More Products Lose Weight News from India: Onion prices make Mumbai investors teary-eyed. “Vegetable prices jumped 16% in the week to Dec. 25 from the preceding week and were up about 60% from the comparable week last year. Onion prices, meanwhile, soared 23% week-on-week and were up a staggering 82% from a year earlier.”   Super Big Gulp fan says 7-Eleven duping the public out of 4 ounces JPMorgan: Surging Food Prices Fueling Global Inflation

Debt Default Fears Will Spread To US and Japan, Warns Citigroup   Deepening Crisis Traps America’s Have-Nots   Prepare for a Greek Default     Brett G. suggested this piece: JPMorgan’s Dimon: More Cities Will Go Bankrupt John R. liked this one: The New Financial World Order Evolves Further Also from John: Here’s That Big Citigroup Report On Why Absolutely No Sovereign Debt Is Safe Items from The Economatrix: How The Government Spins Unemployment (Paul Craig Roberts) Fed Prints Another $600 Billion to Keep US Recovery on Track   Oil Surges on Offshore Drilling Report   Housing Market Slips Into …

Frequent content contributor B.B. spotted this: Offshore Gold Rush: AngloGold, De Beers hunt gold under Atlantic Eric Rosenbaum asks: Should the US Raise Its Debt Ceiling… or Default? The piece includes this: “Treasury Secretary Timothy Geithner this week found himself in the unenviable position of representing the US government in the role of a delinquent credit card customer asking for a higher credit limit. In place of that line on a credit card account statement that reads ‘available credit’ insert ‘national debt ceiling.’” (Thanks to reader C.D.V. for the link.) G.G. sent this: Bank intervention as euro debt crisis deepens …

John R. pointed us to a piece by Mike Whitney: Printing a Recovery. While our politics don’t always mesh, I’m in full agreement with Whitney on the re-animation of the credit bubble. Also from John R., a piece over at Lew Rockwell’s site by Terry Coxon: The Long Swim – How the Fed Could Become Insolvent Silver Demand Surges Six-Fold in India and World’s Richest Man Enters the Silver Market B.B. recommended a well-produced video from Gold Core: GoldNomics – Cash or Gold Bullion Reader B.J.G. flagged this item: Brazil Threatens Trade War Against US, China John S. sent this: …

Richard Duncan: A Catastrophic Global Economic Breakdown May Be Unavoidable! Reader P.D. sent an article that is surprising to see from a mainstream media outlet like Reuters: Economists foretell of U.S. decline, China’s ascension Over at The Daily Bell: Peter Schiff on Why the American Economy Is Broken – and What to Do About It SurvivalBlog’s Editor at Large Michael Z. Williamson mentioned this article at The Atlantic: How The Recession Changed Us. JWR Adds: Their use of simplistic “sand pile” graphs is disingenuous. They make the recession look like a discrete post facto event. It isn’t! Traditional linear or …