John S. in Virginia suggested a Forbes article on China’s Economic Bubble. Items from The Economatrix: Buyers Spurn Gold for Silver Greece Credit Rating Rated Junk Levels UK: Confidence Falls on Fears of “Double-Dip” Recession How Much Imaginary Gold Has Been Sold? 2010 Food Crisis for Dummies Full Circle of Government Debt Default
Reader M.S. spotted this editorial by James Quinn: Brave New World 2010. This editorial by Frank Seuss was linked over at The Daily Bell: The Life-Long Challenge of Differentiating Between Truth, Paradigms, Truisms and Plain Lies RLG sent this video clip: Ryedale Coin Penny Sorter. Keep in mind how much profit from how many hundreds of thousands of pennies it would take to recoup the cost of buying a sorting machine. To my mind, this is a hobby business strictly for retirees with strong backs! Bill from Ohio sent this: Six Banks shut down Friday – 140 total this year …
Mark Lundeen at Gold Eagle asks: How could GDP have increased 2.8% and yet electrical power consumption in the US declined by 5.04%? The latest from the Dr. Housing Bubble blog: Southern California and the MLS Myth: Why the MLS does not Provide an Accurate Picture of Housing Inventory. Shadow Inventory, Foreclosures, and Fantasy Housing Numbers. Red State Ranger sent us this: You Can Negotiate Anything. BTW, I recommend that you read my archived article on savvy bartering, for some more negotiating tactics. (The Economatrix is snowed in today, with no Internet service available.)
Eric C. sent us a link to a recent Peter Schiff interview over at The Motley Fool: A Tough Year Ahead for the U.S. Economy? From Hal N.: Greenspan backs deficit-reduction commission Items from The Economatrix: A World Crisis No Bailout Can Stop Are Your US Treasury Bonds Safe? Fastest Food Inflation–Milk Up 39% Stock Futures Signal Weaker Open as Dollar Rises Treasury Backs Out Of Plans to Sell Citi Stake Citi Suspends Foreclosures for 30 Days US Lawmakers Approve Jobs Package Moody’s Warns of “Social Unrest” as Sovereign Debt Spirals Gulf Petro-Powers to Launch Currency Mexico Whacked with Second …
Jim B. recommended this video on the Federal Reserve: The Dollar Bubble. Randy K. suggested this item: by the ever-cheery Ambrose Evans-Pritchard: Gulf petro-powers to launch currency in latest threat to dollar hegemony From J.S.: More countries at risk of default. Items from The Economatrix: World Losing Faith in Debt-Laden UK The True Danger Lurking Behind 0.00% Treasury Yields and the 1-3-6 Rule Part I The Return of Gold and Silver Eagle Rationing Airlines in Deeper Trouble than Forecast EU/IMF Revolt: Greece, Iceland, Latvia May Lead Way Bond Price Crash is Surest Bet in Town Poll Reveals Trauma of US …
I found this linked over at The Drudge Report: Democrats plan nearly $2 trillion debt limit hike Damon sent this: Cleaning up after real estate debacle Larry mentioned this BBC piece: Greece ‘faces sinking under debt’ Items from The Economatrix: Bankruptcy of US Now Certain Gold and the Last Real American Dollar Hedge Against Hyperinflation, Hard Assets Should Continue to Appreciate During 2010 Marty Weiss: Stock Market, Gold, Commodities, and Economic Forecasts for 2010 Darryl Schoon: Deflationary Economic Depression 2010, Ready or Not, Here it Comes! Foreign Demand for US Long-Term Assets Slows Greece Defies Europe as EMU Crisis Turns …
Dear Captain Rawles, I recently saw the following excerpted comment at Zero Hedge and the argument makes sense to me: In my opinion there is a flaw in the inflationary argument. It is only when money escapes into the general populace that the dilution effect on the currency actually occurs and drives up prices. By giving the majority of the new money directly to his buddies, Bernanke is simply changing the ratio of cash held in favor of the big banks and against the general populace. If the big banks fail to spend this money with wild abandon and instead …
R.R. sent this: NS&I withdraws all its fixed-rate savings bonds Chris mentioned an article on the new underground economy and the avoidance of bank accounts. Thanks to Joan M. for finding this one: D-Day nears for Dubai’s $3.5 billion debt hurdle Also from Joan come this CBC (Canada) piece: Peak oil: Problems and possibilities Items from The Economatrix: World Stocks Up on $10 Billion Dubai Rescue Citigroup to Repay $20 Billion in Bailout Money Oil Near $69 as OPEC Signals No Output Cut US Recession “Not Over Until Job Rates Rise” White House Economist Sees Jobs Growth By Spring. JWR …
Tom W. liked this piece by Todd Harrison at Minyanville: What in the World Is Going On? Trent H. suggested this video clip: Globe “Overdue for a Currency Crisis”; Why Jim Rogers is Buying Dollars GG flagged this: The Coming Wave of Debt Defaults Items from The Economatrix: Sovereign Debt Defaults the Next Shoe to Drop? House Passes Massive Overhaul of Wall Street’s Regulations US Foreclosures to Reach Record 3.9 Million in 2009 North Korean Won Plunges 96% after Gov’t Reevaluation Venezuela Debt Holders Rush For Exits As Banks’ Woes Surface
Regular content contributor GG mentioned this in The Wall Street Journal: Are Your U.S. Treasury Bonds Safe? The price of credit default swaps jumped by more than 50% in the private market in recent months. Frank S. sent this Friday Follies Update: Three bank failures take year’s tally to 133 “3Can” mentioned that the IBD had a good discussion of gold related to purchases by central banks. Items from The Economatrix: Freightliner Moving Truck Production to Mexico, Raising Fears of More Layoffs Australian Lawmaker Warns US Could Default on its Debt Triggering an “Economic Armageddon” Timebomb for the Euro: Greek …
HPD highlighted this one: 100 Ridiculous Projects Funded by the American Recovery Act SurvivalBlog’s Editor at Large Michael Z. Williamson spotted this piece in the Wall Street Journal: How to lose $127 million. Items from The Economatrix: Greece Teeters on Bankruptcy Federal Budget Deficit for November Hits $120.3 Billion Geithner Says Treasury Faces Losses from Autos, AIG Stiglitz Urges “Powell Doctrine” to Fix Jobs Picture Market Jitters as Spain Joins Dubai on Danger List Food Stamps Go to a Record 37.2 Americans
Reader P.D. sent this: 10 Countries most likely to default. (It is notable that because of the size of its economy, they listed California among the list of “nations” at risk of default!) Russ J. recommended a link from Nathan’s Economic Edge. to an MP3 recording of John Williams of Shadow Government Statistics. Russ’s comment: “His conclusions, if they prove out, could easily land us all in a “Patriots” scenario”. El Jefe Jeff E. sent this: U.S. Homeowners Lost $5.9 Trillion Since 2006 Peak. Jeff’s comment: “Home foreclosures topped 300,000 in October for the eighth straight month, and still growing. …
Dear SurvivalBloggers: The economy has taken a dramatic turn for the worse for many Americans. Hundreds of pages could be written to describe how it happened and who did it. While many individuals and households have had the financial resources and good fortune which will allow them to weather economic uncertainty, many will simply not be able to maintain their standard of living. Many two income households are now one income households and that income may have decreased due to companies cutting back on work hours. This situation has been occurring for many Americans for many many months, forcing people …
Chad S. was the first of several readers to mention: Feared “super spike” in rice prices Reader T.H. pointed us to this troubling piece: Sovereign Debt Defaults Likely Over Next Several Years, Says Rogoff From Brett: G.: Experts: Greece Going Bankrupt Could Doom Euro Items from The Economatrix: Stocks Climb as Investors Shrug Off Debt Concerns $700 Billion Bailout Extended Until October Crude Oil Falls to 2-Month Low Financial Markets Tumble After Fitch Downgrades Greece’s Credit Rating Ex-Fed Chief Volcker’s “Telling” Remarks On Derivatives Soros Warns Against Rebuilding Same “Humpty Dumpty” Financial System Few CEO’s Plan to Hire In Next …
Items from The Economatrix: Shockwave From Dubai Default About to Hit Markets The Great RBS Exodus: 1,000 Bankers Quit Over Pay Disagreement Dollar Rises Most Since 1999 Versus Ye as Fed Bets Increase “The” Bank Job Pockets of Rot John Galt: The Day The Dollar Died, Part 7 — Security For Liberty for All (Scroll down for Part 6, and earlier) Gold Rally is Not A Bubble, Mania Stage Ahead of Us