Category: Economics & Investing

Marc Faber recommends: invest in a farm surrounded by barbed wire and guarded by Dobermans. (Thanks to G.G. for the link.) I spotted this over at NewsMax: Gingrich: Obama Repeating Mistakes From the Great Depression. K.A.F. flagged this: What to Expect if Bush Tax Cuts Expire. The congresscritters in Washington are so desperate for revenue that they will likely reanimate both the higher income taxes and capital gains taxes. I predict that this will shut down the economy. Some optimists will call it a “double dip” recession. I ‘ll describe it more accurately: stepping off a cliff, a la Wile …

From G.G.: The Aftermath Of The Global Housing Bubble Chokes The World Banking System. Also from G.G.: “This debt is like a cancer,” says Erskine Bowles, co-chairman of President Obama’s debt and deficit commission Richard S. spotted this: The Irish Leave the EU. Do you recall my prediction of higher taxes–perhaps in some desperate and creative ways–to make up for state budget shortfalls? See: When Quinn the Governor gets here. (A hat tip to Tamara at the View From The Front Porch blog, for the link.)

Several readers mentioned this: IMF Says U.S. Financial System May Need $76 Billion in Capital G.G. suggested a piece by Niall Ferguson: Sun Could Set Suddenly on Superpower as Debt Bites. China Becomes Second Biggest World Economy Reader “AmEx” (American Expatriate) spotted this: Fed’s Bullard:Worried About Possible Deflationary Outcome For US Also from AmEx: Top Hedge Funds That Dodged Crash, Rode Market Back Turn Gloomy

Brett G. sent this: Fed’s Bullard: US at Danger of Japan-Style Financial Crisis. The latest over at Dr. Housing Bubble: Banks cherry picking individual foreclosures that show up on the MLS. Frequent content contributor K.A.F. sent this: SEC Provision Shocks Observers “A modern day depression” Rosenberg sees “tough slogging” for the economy. (Thanks to Trent H. for the link.) Rep. Bachmann: U.S. Faces ‘Disaster’ From Financial Reform Bill K.A.F. forwarded this one: AP survey: A bleaker outlook for economy into 2011

Flagged by G.G.: Jim Rogers predicts a new recession in 2012 Also from G.G.: Drip after drip of deflation data I was doing some web wandering, and found this over at Gold Eagle: The Coming Silver Supernova Reader K.S.B. sent a link to a CBO report on the U.S. debt crisis that is a must read. The key word: unsustainable levels of debt. There are some articles discussing the CBO report in The American Spectator and in The New American. John L. mentioned an article about counterfeit silver coins. Frequent content contributor KAF sent this: North Dakota, Alaska lead US …

AmEx (American Expatriate) sent us this piece by Charles Hugh Smith: Six Reasons to Expect Slow Economic Growth Ahead G.G. sent this: Hussman: Betting on a Bubble, Bracing for a Fall. GIC (Singapore ) Says World May See Recession Sooner Than Expected. (A hat tip to M.W. for the link.) Phip flagged this from Phil Stock: America is 234 Years Old, and Today it is Finished. Reader Steve K. suggested this news piece: America Now: Friends and Neighbors. NBC’s Ann Curry travels to Ohio to take a personal look inside the lives of families who have lost jobs, homes and …

S.J. sent us this link: The Scariest Unemployment Graph I’ve Seen Yet Dave D. suggested this article: U.S. may face deflation, a problem Japan understands too well Reader “AmEx” (American Expatriate) sent us this: Uncle Sam has worse woes than Greece From reader RBS: U.S. Rescue May Reach $23.7 Trillion, Barofsky Says Geithner: Let Tax Cuts Die. (Can you detect the desperate need for revenue?) A hat tip to B.G. for the link.

SurvivalBlog’s Poet Laureate G.G. sent this: Nielson Probability of US Hyperinflation or Debt Implosion Both G.G. and John G. suggested this article by Ambrose Evans-Pritchard: The Death of Paper Money F.G. mentioned: The Middle Class in America Is Radically Shrinking. Here Are the Stats to Prove it K.A.F. sent this Fox news item: Treasury Plans to Sell 30% More of Citi Stake.

KAF sent this: Bernanke Says Extending Bush Tax Cuts Would Maintain Stimulus to Economy. Frequent content contributor B.B. sent this: Chinese Central Bank Outlines Plan To Ditch The Dollar As The Yuan’s Peg SurvivalBlog’s Poet Laureate G.G. spotted this: White House predicts record $1.47 trillion deficit Items from The Economatrix: Sales of Previously Occupied Homes Falls 5.1% These 72 Analysts Believe Gold Will Go Parabolic to Between $2,500 and $15,000 Per Ounce Infowars.com Poll: Majority Believe Road Warrior Depression Coming Nothing Was Sacred: The Theft of the American Dream Economic Meltdown: The Final Phase

Bobbi-Sue and G.G. both suggested this piece over at Seeking Alpha: The One Economic Chart That Really Matters Thanks to readers Brett G. and “Tanker” for this link: Bernanke: Further Easing Hinges on Jobs KAF flagged this: Central bank official suggests move away from dollar as benchmark Another news item from G.G.: Bank failure tally passes 100 for the year Items from The Economatrix: Leading Indicators Drop in June as Recovery Slows Mortgage Rates Hit New Record Low Elevated Jobless Claims Point to Weak Labor Market UPS Raises Outlook for Year Despite Mixed Economy

G.G. flagged this: Marc Faber expects a return to massive quantitative easing by October China: The US is “Insolvent and Faces Bankruptcy” (Our thanks to B.B. for the link.) Items from The Economatrix: Stocks Surge on Upbeat Earnings, Forecasts It’s TEOTWAWKI Filibuster Broken, Jobless Benefits May Flow Soon Jobless Rates Improve But Many Have Given Up Looking The Retirement Nightmare: Half of Americans Have Less than $2,000 Saved for Retirement Intrigue Builds in the Comex Silver Pits Penniless Idiocy (The Mogambo Guru) US Housing Starts Drop to Lowest Levels Since October Fed to Push Rates Lower? Some Traders Betting on …