Category: Economics & Investing

A preview of Things to Come, for the U.S. of A?: Iceland reports record 34 percent inflation Portuguese Five-Year CDS at Record High, Spread Wider. Can you spell D-E-F-A-U-L-T, boys and girls? (Our thanks to Brad F. for the link.) RBS sent this: Forget 10% Unemployment, The Real Job Loss Pain Number is 54% Amy R. sent this: U.S. Food Inflation Spiraling Out of Control Courtesy of frequent content contributor Jeff B.: 10 Cities Facing a Double Whammy of Default Risks Thanks to Mark G. for flagging this: The Housing Crash Has Just Started; Get set for falling prices again. …

Sir: The recent post on battery rejuvenation touts a $200 unit, but the reality is that electronic battery [pulse] desulfators for 12V batteries are widely available for as little as $25 and they do just as well. (Check eBay for the phrase ‘battery desulfator’ and for more info on units, Google search the term.) The devices I believe originated in the Army decades ago and they operate by taking a little of the battery DC and changing it to AC impulses that break down lead sulfate crystals by hitting them at a resonant frequency of the molecule. This may operate …

Reader RBS sent this: Government goes high-tech to redesign $100 bills. RBS warns that with each currency change, there is the risk of the advent of a blocked currency. “That is where there is one variety of note for Domestic use only and one species for foreign use.” JWR Adds: It is noteworthy that U.S. Postal Service Money Orders are already marked “Valid only in the U.S. and Possessions.” Currency controls are coming, folks! Alasdair sent this: Greek debt crisis gets worse as EU revises figures Items from The Economatrix: If The US Economy Falls Will It Result In A …

Jim: Unless I’m mistaken, 1:50,000 scale maps are military only. Civilian topo maps in the US (produced by the USGS) are 1:24,000 scale. If there are any 15 minute quadrangle maps still available they are 1:62,500 scale. Neither are compatible with military grid readers or scales. Here is a source for map scales and protractors available in a variety of scales – print or copy them on transparent material and have at it. Regards, – Flighter

The IRS Goes Clubbin’. This illustrates that taxing officials will show no restraint in their expanding quest for revenue, in the coming years. Flea markets, farmers’ markets, gun shows, and any similar perceived dastardly bastions of free enterprise are doubtless next on their list. (A hat tip to RBS for the link.) Also from RBS: Peak Phosphorus, and Why It Matters, by James Elser and Stuart White. The Grudge Match Over Your 401(k) Items from The Economatrix: US to Shine Light on Derivatives Trading Next Bubble: $600 Trillion? IMF Trims Estimate of Losses From Financial Crisis The Great Debate: Are …

Brett came a link to this “must read” piece by Robert Wiedemer: A Coming Avalanche of Inflation Also from Brett: Davidowitz: This Market Is a Sucker’s Rally. A video of some truth that they let slip into CNBC: Stay Clear of Western Markets and Currencies. Global investing analyst Martin Hennecke warns: “Sovereign debt crisis in the western countries is really getting underway…” and “The blow-up of sovereign debt is the final step of the financial crisis.” Hennecke is also bullish on commodities and warns of a global financial meltdown with high interest rates and high inflation. (Our thanks to George …

By way of the Appenzell Daily Bell: Germans Desperate Over EU, Greece Rogers: Goldman May Fuel 20 Percent Market Tumble. (Out thanks to Brett G. for the link.) GG suggested this Forbes opinion piece: Will Japan Default? The Fox forwarded this: Greek Bailout Is a High-Wire Act. They are starting to use the “D” word. (Default.) Items from The Economatrix: Could Germany Quit Euro Over Greek Crisis? Rivals May Not be Smiling at Goldman Sach’s Predicament Long Bank of Ireland Forced to Sell Off Assets FEMA Faces Own Fiscal Emergency Unemployment Rises in 24 States

Yishai recommended this article: Released to Near Silence, the U.S. Treasury 2009 Financial Report Shows Dire Course Sue C. suggested an essay by Herb Mayer: An Economics Lecture No Student Will Ever Hear Items from The Economatrix: 10 US Cities in Economic Freefall Exxon’s Income Tax: $0 John Paulson: The Man Who Made Billions Betting on the US Housing Crash Goldman Sach’s Client-First Pledge Exposed as Lie Black Gold, Yellow Gold (The Mogambo Guru)

By way of the Appenzell Daily Bell: George Soros Warns that the EU May Collapse. From Damon S.: 14 Pieces of Really Bad News for the U.S. Economy The number that I mentioned in the blog on Saturday was too low. Here is the correction: U.S. shuts eight more banks; 50 total have been closed this year. Items from The Economatrix: Consumer Mood Unexpectedly Worsens in April US Housing Starts Up Bill to Restore Jobless Aid Clears Senate Hurdle Pensions Crisis “Threatens Entire UK Economy” $4.00 Gas by the End of 2010?

GG flagged this piece by Tyler Durden, over at Zero Hedge: Why Are Silver Sales Soaring? That is significant news. Think about it: Annualized, that means that effectively, the entire US silver mining production is being devoted to producing Silver Eagles planchets. The law of supply and demand is inescapable. So I’m I standing by my long term price predictions for silver. Also from GG: 33 states out of money to fund jobless benefits. Reader Chad S. notes: The Federal government deems all $5, $10 and $20 Federal Reserve Notes (FRNs) minted before the 1996 series to be unfit for …

EMB sent us this: Bank for International Settlements: Brace for Impact Items from The Economatrix: Markets Could Be Derailed Again, Warns Soros New Jobless Claims Unexpectedly Rise By 24,000 Bernanke: US Unemployment Likely to Remain High During “Recovery” Going For Broke In L.A.? SEC Accuses Goldman Sachs of Defrauding Investors Stocks Tumble as Goldman Charged with Civil Fraud Impact of Volcanic Ash Surfacing for US Businesses The Latest Friday Follies: Regulators Shutter 5 Banks; Total for 2010 Now 47 Housing Construction Points to Market Recovery

Reader Steve C. sent this: Foreclosure Rates Surge, Biggest Jump in Five Years The editors of The Daily Bell alerted us to this news article: Expert: Bear Market Can Last for Another Five Years Ray T. suggested this: IMF Prepares For Global Cataclysm, Expands Backup Rescue Facility By Half A Trillion For “Contribution To Global Financial Stability” Items from The Economatrix: Rise in Jobless Claims Underscore Wobbly Recovery Stocks Edge Higher on Mixed Reports, UPS Outlook Low Stock Market Volume: It’s Even Weaker Than You Think Oil Jumps to $86 a Barrel Treasurys Slump After Bernanke, Beige Book Bond Report …

I’ve heard a lot of suggestions about bartering.  Some of them are good ideas, while others might be dangerous.  Bartering is just trading, either goods for goods, goods for services, or services for services. First of all, we need to ask why we are bartering at all.  If we need to barter, it is probably because we need (or just want) something we don’t have, and someone else needs or wants something that we have.  If something isn’t exchanged by both parties, then it’s essentially a begging or charity situation. It is best to put yourself in a position where …

GG sent this: Pray For Inflation — It’s Our Only Hope. [JWR’s Comment: Well, its the government’s only hope. For the Citizenry, mass inflation will be wealth destruction. As I’ve noted before, inflation is essentially a hidden from of taxation.] Reader CZD sent this item: The Dow at 11,000 is Misleading. (CZD warns that he expects there will be multiple dips. I concur. This “recession” is far from over. I stand by my assertion, that we are actually in the early stages of of depression.) Items from The Economatrix: The Dow’s Up But Trades are Scarce, Worrying Bulls Jim Sinclair: …