Category: Economics & Investing

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 …

Chad S. suggested this commentary by economist Bill Bonner: Losing Control of the US Debt Machine EMB sent this: Iceland Voters Set to Reject Debt Deal. Items from The Economatrix: Our World Balances on a Sea of Debt More Consumers File for Bankruptcy Protection

Situational Awareness is simply knowing what is happening. Information enables us to make more intelligent or informed decisions. Informed decisions could be the difference between surviving or not surviving. Communications is the exchange of information between a sender and receiver. It could be a simple shout, Morse telegraph or a complex computer network. This article will focus on using radios that are available to the general public. All frequencies listed in the following, except AM broadcasting, are in megahertz (MHz) or million cycles/second. Radio and Television Broadcasting There is usually a radio playing in my home and vehicle. The radio …

“Card House” sent us this: CBO: National Deficit to Hit Nearly $10 Trillion Over Upcoming Decade GG flagged the latest Friday Follies news: Regulators shut down banks in 4 states, making 26 US bank failures this year Also from GG: National debt to be higher than White House forecast, CBO says Another from GG: Greece is a harbinger of austerity for all–The effects of the stimulus are wearing off, leaving us with a nasty hangover, says Jeremy Warner. E.M.B. sent us this piece by Mish Shedlock: Construction Developer Says Banks Suddenly Playing Hardball, Asks “Mish, What’s Going On?” Items from …

GG flagged this piece over at Zero Hedge: CLSA’s Chris Wood “In Five Years The US Dollar Paper Standard Will Collapse” Greg C. suggested a piece posted at Money News: Rogoff: U.S. Has Defaulted Before, May Do So Again Bob G. liked this piece: ‘Buy some gold every month’ as protection against falling currencies, says Marc Faber Items from The Economatrix: Gold Going Higher: Even George Soros Agrees With Marc Faber Is Moving Out of the US A Way to Escape the Coming Economic Collapse? Gold and Silver Supply: Get Some While You Can (The Mogambo Guru)

Economists: Another Financial Crisis on the Way. (Thanks to “Straycat” for the link.) Fronm Brett G.: Greenhouse Gas Taxes to Push Gasoline to $7 a Gallon? Items from The Economatrix: Stocks Falter After Drop in Pending Homes Sales US Economy Continues to Slow Pending US Home Sales Fall 7.6% in January Investing In Gold: Protection From Runaway Inflation Karl Denninger: Speculative Premium and Why the Markets Will Crash Darryl Robert Schoon: Will the US Devalue the Dollar?