Category: Economics & Investing

Unemployment Could Remain High Until 2013. JWR Adds: To be more accurate, I would have written: “…Until 2023.” Yale Economist Robert Shiller Warns Seven Years of Economic ‘Bad Times’ in Store for US L.J. sent some more bad news from England: Mortgage lending plummets to 10-year monthly low as housing market remains ‘exceptionally’ weak. From the Wall Street Journal‘s Australian bureau: Silver looks ready to rip. (Thanks to Bob G. for the link.) Russian crop misery spreads to world’s supermarkets. Items from The Economatrix: California Attorney General Asks GMAC to Stop Foreclosures Economy Heading Toward “Catastrophic” Collapse They Are Printing …

The Reality of Inflation Food Inflation: Coming to the USA? Interview: Dr. Marc Faber on the Federal Reserve and Hyperinflation Larry T. sent us this bit of stupidity: In Praise of Inflation. Our Editor at Large Mike Williamson sent this photo link: Those incredible shrinking paper towel packages. Get Ready to Pay More for Tires

B.B. sent this article about the latest $30 Billion expansion to the MOAB: U.S. Bails Out Major Credit Unions Sherman Oaks enters correction phase. $1,200,000 home now selling for $720,000. Tamara (over at the excellent View From The Porch blog) posted a link to an amazing video that shows a labor union hiring minimum wage non-union protestors to picket Wal-Mart for paying minimum wage and being non-union. Warren Buffett: We’re Still in a Recession Despite What Officials Say. (Thanks to Brett G. for the link.) KAF sent this: China Allows Banks to Sell Loans on Interbank Market; 21 Lenders Sign …

Does this sound familiar? Russia’s kopeck coin may soon be scrap metal. (A hat tip to RBS for the link.) B.B. sent us this: For the Unemployed Over 50, Fears of Never Working Again Also from B.B. a link to a piece over at the GATA site: Brazil’s central bank president says no country can hold dollar up G.G. sent this: Haven Trust is the 126th bank to collapse this year. Items from The Economatrix: The Curious Case for $936 Oz. Silver US Is Bankrupt And We Don’t Even Know It Banking System Collapse, On The Edge Of The Precipice …

“Hi-yo Silver!” (I’ll spare you the “I-told-you-so” snide comments. Or did that just count as one?) Cy D. mentioned this over at Zero Hedge: Wal-Mart’s CEO Provides the Starkest Visual of the Modern Bread Line Yet B.B. sent us a link to these comments by Howard Katz: Sobering Lesson for the World as Gold and Silver Set to Explode Higher Obama tells UN leaders world has dodged depression. Yeah, right… Items from The Economatrix: Homebuilding Industry Years Away From Recovery Fed Signals It Will Take Further Steps If Needed. [JWR Notes: I get nervous whenever I hear someone with weapons …

The Yahoo-Bing Search Deal May Raise Ad Rates. Online advertisers may see up to a 78% price increase in paid-search rates once Yahoo and Microsoft wrap up their search alliance. Cost-per-click will likely rise sharply as advertisers shift to the single Bing search platform. Unusual Worry for the Economy: Is Inflation Too Low? Corn, Soybeans Hit Two-Year Highs While Cotton Jumps to 15-Year Peak Food Makers Ready to Raise Prices

Does this sound familiar? Investors seeing farmland as safer bet than stocks. (A hat tip to M.M. for the link.) This piece by Ambrose Evans-Pritchard is thought provoking: QE2 in Round Trillions Nevada unemployment rises to all-time high 14.4 percent. US Government ‘hiding true amount of debt’ Fed hints it could buy more bonds Items from The Economatrix: Gerald Celente: We Won’t Recover $2,500 Gold Could Easily Result in $178.50 Silver UK: Middle Class Families Could Face “Lie Detector” Tests Over Taxes 20 Signs That The Economic Collapse Has Already Begun For One Out Of Seven Americans How High Will …

Susan H. sent this: U.S. Dollar Now Ripe For Catastrophic Devaluation. Here is quote that might have a familiar ring: “The inflation vs. deflation debate has been raging for nearly three years, but I suspect that when all is said and done, we will find that both sides in a sense were correct. The people who consistently miss the mark on what is truly going on in the economy are those who blindly insist that this is an either/or situation. The fact is, we are seeing symptoms of BOTH deflation and inflation simultaneously. Deflation in jobs, stocks, real estate, and …

V.L.D. sent us this from the NIA: Americans Enjoying Final Days of Artificial Economy Charlie Munger on US Economy: Pain Not Over. (Thanks to G.G. for the link.) K. in Montana suggested this piece by Victor Davis Hanson: Obama’s Washington Animal Farm M.M. flagged this: Job losses cut wide swath in California Frost damages Canadian crops, wheat a problem. (Thanks to Steven H. for the link.) Items from The Economatrix: Basel III: Tightening The Noose On Credit Will Silver Take The Lead? Shock Fall In UK Retail Sales Adds To Fears Of Double-Dip Recession The LEAP think-tank bon hommes latest …

Sue C. sent this: V-Shaped Recovery Dreams Evaporate The U.S. housing market is still nowhere near the bottom: Record Number of Bank Seizures of U.S. Homes. (Thanks to Steve C. for the link.) E.M.B. sent us this evidence that the banksters are in Desperation Mode: Fannie Mae Began Buying $1,000-Down Mortgages Without Approval From Toby Connor of Gold Scents: Why Can’t Politicians Understand What is Really Happening? Items from The Economatrix: Swiss Institutions Ask: Where’s The Gold? Real World Solutions to Economic Tyranny Greenspan: Fiscal Stimulus Worked Far Less Than Expected Would A Midterm Loss For Democrats Boost Stocks? Americans …

G.G. flagged this: Look Around: There’s Major Commodity Inflation Happening Everywhere A rush to buy tangibles: Argentines Say Buy Now as 25% Inflation Outlook Buoys Car Sales Carla M. wrote: “I have been shopping thrift shops all my life and when we moved to our current location that didn’t change. What has changed is that for the past three years sewing patterns had been .25 each, but two weeks ago the price jump to .99 each. As a side note, I can buy sewing patterns new for .99 when they go on sale at the local fabric and crafts stores.” …

More FDIC Friday Follies: Bankruptcy & Closures: Six More Bank Failures Makes 125 in 2010 Wasteland: Europe stalked by spectre of mass unemployment. (Thank to J.M for the link.) Retirement on Hold: American Workers $6 Trillion Short J.H.B. liked this piece by commentator Devvy Kidd: Bail-outs of Freddie and Fannie will bury us under unpayable debt Tom F. sent us this link: Congressmen Weiner and Waxman Set Gold Hearing Items from The Economatrix: A September Surprise is Coming…As Stunningly Stupid Politics Spread Widespread UK Civil Disorder “Inevitable” The Daily Gold And Silver Report reports COMEX warehouse shortages. A short squeeze …

My cousin in England sent this: Preventing Your Government From Stealing Your Gold Respected Oil Analyst Charles Maxwell Forecasts Peak Oil by 2017 Retirement Fund Trillions Lure Government Grabbers. (Thanks to Jeff for the link.) M.E.W. flagged this news item: Chinese think tank warns US it will emerge as loser in trade war Items from The Economatrix: Why Governments Love Inflation and You Should Love Gold Two Big Threats to the Economy Shrink a Bit FedEx Delivers International Profits But Cuts US Jobs Average Mortgage Rates Rise to 4.37%

Several readers sent this: IMF fears ‘social explosion’ from world jobs crisis. Here is a link to a key PDF from the study: The Challenges of Growth, Employment and Social Cohesion–Discussion Document When Will Net Energy from Fossil Fuels Peak? RBS sent this: How Debt Can Destroy a Budding Relationship. $170,000? Did Ms. Eastman do the math on how long it would take to make her college education pay for itself? Siggy sent this: Tap Dancing on A Land Mine Items from The Economatrix: How Hyperinflation Will Happen In America. (This excellent essay was originally posted in Gonzalo Lira’s blog …