Category: Economics & Investing

Veteran analyst Jim Rogers talks about the world’s financial woe: Another recession ahead. It was nice of him to use the more kind term for it. From Chad S.: Food prices push Indian inflation up to 9.9 percent Also from Chad: China’s Wen pushes back against yuan rise calls. This quote from the article doesn’t bode well: “We are very concerned about the lack of stability in the U.S. dollar. If I said I was worried last year, I must say I am still worried this year.” G.G. liked this commentary from Richard Daughty (aka The Mogambo Guru): US Economic …

SurvivalBlog’s Editor At Large Michael Z. Williamson sent us a link to an interesting graph on debt figures in the U.S.. Per capita debt almost $41,000 per person, and rising about $20 per day. Chad S. recommended this: How Can Anyone Claim that the Housing Crisis is Over When the Delinquency Rate on U.S. Mortgages Continues to Explode at an Exponential Rate? The latest Friday Follies installment: Regulators shut 7 banks in 5 states; 37 in 2010 Tod P. flagged an article from the Philippines, wherein the government pleads with its citizenry to spend their coins back into circulation, to …

Sue C. sent this: Derivatives debate splits U.S., European regulators China in Midst of ‘Greatest Bubble in History,’ Rickards Says. (I found that article linked at The Drudge Report.) Reader Brett G. spotted this: Roubini Economist: We’re Headed For World of Inflation GG sent this: My Inflation Nightmare Chad S. sent this: Latvia government collapses amid economic crisis Also from Chad: U.S. Hyperinflation Possible by 2015 Items from The Economatrix: Moody’s Fears Social Unrest as Triple A States Implement Austerity Plans Idaho’s Plan to Downgrade the Dollar Hipsters on Food Stamps Sovereign Debt = Subprime Debt China Trims Holdings of …

KT flagged this: FedEx Chart Means Double-Dip for Economy From GG: ‘Black Swan’ Author Concerned About Hyperinflation Also from GG: Buyers for Puerto Rico Banks? FDIC Has Three Institutions to Sell; Downside Is They May All Need Capital Items from The Economatrix: Construction Unemployment Rate Hits 27.1% as Another 64,000 Construction Workers Lost Jobs in February Moody’s Warns US Debt Could Test Triple-A Rating Dodd Unveils Sweeping Financial Regulation Plan

Thanks to Tom W. for sending this link: Fiscal Crises Hit Closer to Home; States and localities face burgeoning deficits; next phase in debt-deflation? Ben M. suggested this New York Times link: Junk Bond Avalanche Looms for Credit Markets. Several folks sent this link: Rising food prices may start with seeds Items from The Economatrix: Not Durable? Gold, Silver and Oil: Buying the Essentials in Tough Markets Fed May Hint at How Long the Rates Will Stay Low What Credit Card Pay-offs? Consumers are Dumping Debt! IRS: Get Tax Relief if Lender Forgives Part of Home Debt Housing Construction Drops …

Several readers mentioned this: Social Security to start cashing Uncle Sam’s IOUs. This does not bode well. The most telling statement is in the sixth paragraph. In summary, we’ll be borrowing from foreigners to pay our Social Security benefits. This article certainly makes it clear that Al Gore’s “Lock Box” rhetoric during a presidential campaign a few years back was absolute nonsense. Congress has been busily spending your Social Security “contributions”, for many years. Here is a quote from the article: “In all, the agency has about $2.5 trillion in bonds, all backed by the full faith and credit of …

J.D.D. sent this British newspaper article: Detroit family homes sell for just $10 CNN Money offers a baker’s dozen of articles about America’s fiscal disaster. (Thanks to S.M. for the link.) Straycat sent us this item: States Facing Financial Doomsday as Debts Mount SurvivalBlog’s Poet Laureate, George Gordon (“GG”), spotted this: New round of foreclosures threatens housing market My old friend Sandy mentioned this: Iceland, the Mouse that Roared. Odds ‘n Sods:

Courtesy of reader J.D.D.: Why the U.S. can’t inflate its way out of debt Some Tough Love from the editors of Der Spiegel: Built on a Lie; The Fundamental Flaw of Europe’s Common Currency Larry T. suggested this Powerline piece: Buy Gold. Items from The Economatrix: Why Italy Faces a Derivatives Time Bomb Why California is Doomed Double Dip is Coming in 2011 Welcome to the United States of Iceland Big Ax Looming at FDNY: More than 1,000 Layoffs, 62 Fire Companies to be Closed It’s Going to Implode, Buy Physical Gold Now $2,000/oz. Gold by the End of the …

Trent and J.D.D. were the first of several readers to send this: Faber and Mish: We’re Doomed and Washington Can’t Do Anything About It A.P. sent us some more gloomy news: World faces a day of financial reckoning Canadian dollar likely to trump US greenback: experts. More FDIC Follies: Four more banks bit the dust in the past couple of days. Items from The Economatrix: OPEC Raises 2010 Oil Demand Forecast US Sales Tax Rates Hit Record High US Dollar Gains as Rating Agencies Warn on Europe Toledo, Ohio Likely to Face “Fiscal Emergency” Robbing The Old to Pay the …

Over at Zero Hedge, Tyler Durden asks: Is The Federal Reserve Insolvent? (He’s warning that monetization is the logical next step. So beware of inflation ahead!) Ben in Tennessee sent us this from The Market Oracle: The Coming Dark Ages. GG suggested this one: Bernanke’s Dilemma: Hyperinflation and the U.S. Dollar. Also from GG: Doug Casey on Surviving Financial Apocalypse Now Items from The Economatrix: Are Unemployment Benefits No Longer Temporary? Jobs Outlook May Be Too Optimistic Public Pension Funds are “Going to Vegas” National Debt to be Higher than White House Forecast, Says CBO Senate To Pass Jobless Aid, …

Paul W. mentioned an insightful article by Janet Tavakoli: Washington Must Ban U.S. Credit Derivatives as Traders Demand Gold. (Long-time SurvivalBlog readers are already familiar with my strong warnings about the derivatives time bomb. Newbies, please take a look.) Eric S. suggested this piece by Chris Nelder: Peak Oil Demand Is Coming, But Here’s Why It’s Not Good News Reader David D. spotted this Wall Street Journal article: Commercial Real Estate Owners Beginning To Walk Away From Properties Items from The Economatrix: Job Openings Up Sharply in January to 2.7 Million Failed Banks May Get Pension-Fund Backing as FDIC Seeks …

From The Appenzell Daily Bell: More Sovereign Defaults Loom? Brett pointed us to some great Afterburner commentary on the “carbon credits” nonsense as well as personal initiative versus Nanny Statism: Flying Solo: Choose Freedom Over the Nanny State. I warned you, folks! U.S. Sales Tax Rates Hit Record High. (Thanks to Loren for the link. OBTW, I expect even more tax rate increases as the recession deepens, and more states face crises.) Williams: Expect Hyperinflation Within The Next Five Years. (Thanks to H.H. for the link.) S.M. liked this piece of commentary about the national debt and precious metals by …

JDD sent this item: China ready to end dollar peg. The article begins: “The head of China’s central bank has given the strongest signal yet that the country will move away from pegging its currency to the dollar, but he said any changes would be gradual.” Brian B. sent this news story that illustrates that the Mother of All Bailouts (MOAB) won’t stop growing: Program Will Pay Homeowners to Sell at a Loss. I found this linked at The Drudge Report: Congressional estimates show grim deficit picture. Jeff B. offered this for the No Great Surprise Department: IRS to Track …