Todd Savage found this gem: Dollar Bear: The road to hyper-inflation o o o Mark mentioned the M3 Medical kits available from JRH Enterprises, with fresh components o o o Eric spotted this at MarketWatch: Wall Street watches Lehman walk on thin ice o o o Another piece courtesy of Eric: Gulf central banks urged to sever links with tumbling US dollar
Commentary from former Fed Head Alan Greenspan: We will never have a perfect model of risk o o o Dollar Doomsayers Draw Evidence From Bernanke Push to Cut Rates o o o Wall Street waits for the next domino to fall.
Chester noted that Gold-Eagle posted some commentary from Chris Laird that nicely sums up the global economic crisis: Gold Says that Central Banks Fail to Stop World Deleveraging o o o Bear Stearns exposed as a bank saddled with toxic sub-prime debt o o o What went wrong? The story straight from the Plunge Protection Team o o o Reader “RS” purchased the “Survive Martial Law” e-book, available for download for just under $20. The author, Harold Williams, claims to be prior service “Special Forces” in Vietnam, but both his writing style and some key details quickly …
Eric spotted this summary article at Bloomberg: Subprime Losses Reach $195 Billion; German Banks Get Hit o o o DB found us this: Dollar losing clout around the world. Here is a quote: “Hit by a free fall with no end in sight, the once-mighty U.S. dollar is no longer just crashing on currency markets and making life more expensive for American tourists and business people abroad: Its clout is evaporating worldwide as foreign businesses and individuals turn to other currencies. Experts say the bleak U.S. economic forecast means it will take years for the greenback to recover its …
Our friend Chad recommended this piece by John Markman: Sell Stocks While the Selling’s Good. Oops! Too late. You had your chance: Global Markets Tumble (A hat tip to Eric for that link.) Meanwhile, we read at WND: Recession? Maybe worse. Economy stumbles more–Expert says it could take years to recover from financial crisis now going global o o o RBS mentioned a great do-it-it yourself project page on building cargo compartments into the back of an SUV. (This was designed for a Toyota Land Cruiser, but it is adaptable to many other vehicles.) It would be particularly useful …
Courtesy of reader KBF: J.P. Morgan Says Banks Face “Systemic Margin Call,” $325 billion hit o o o When I last checked, the US Dollar Index was down to 72.260, and falling rapidly. Consider this a final warning: If the USD Index drops below 72, the next likely trading target will be approximately $1.75 to buy a Euro. Keep in mind that 72 is the magic number that The Chartist Gnome warned us about. Quit dawdling and get out of your dollar-denominated investments! OBTW, on a related note, here is a piece (by way of Eric) from Forbes: Fed …
MB and Jason both mentioned an article that indicates that the mainstream media is catching on to the threat of a derivatives implosion: Derivatives the new ‘ticking bomb’ The only good news is that the number of new derivatives contracts has dropped dramatically since August of ’07. But then again, that “good” news is indicative that the global economy has stalled and is about to crash and burn. o o o Eric recommended this commentary from England: Who knows there’s a food crisis? The early signals are there, but the world seems to be sleepwalking towards disaster o …
More from economist Marc Faber’s recent speech: ‘Doom and Gloom’ has just begun. And at the risk of exceeding your maximum daily dose of Gloom and Doom, consider this article sent in by RBS: US Fed releases [another] $200 billion as credit crisis hits new depths. And for the icing on the cake, The New York Times ran this: Seeing an End to the Good Times (Such as They Were). A key data point mentioned in the article: “The median household [in the US] earned $48,201 in 2006, down from $49,244 in 1999, according to the Census Bureau.” OBTW, that …
P.R. suggested an article in Home Power magazine on hydropower basics. o o o A reminder that the Western Rifle Shooter’s Association (WRSA)’s first event scheduled for 2008 is a two day defensive handgun course, in Brookings, Oregon on March 15 & 16. The WRSA offers high quality training for very little money, so be sure to take advantage of it! o o o Remember what I’ve been saying about lenders reverting to saying “No”? And do your remember my predictions on municipal bonds and their insurers” Here are a couple of recent snippets from Bill Bonner, over …
From Bloomberg: Fed Boosts Lending to Banks as Credit Rout Continues. Bloomberg also reports: Bernanke Policy to `Destroy’ U.S. Dollar, Faber Says. It sounds like there are some perilous times ahead! o o o Mark in Idaho mentioned: that he spoke recently with a good friend who lives in Southwestern Utah. Mark said that his friend went to his local LDS cannery over the weekend and was told to “hurry up and buy what he could since the cannery prices were going to increase, as of the 22nd of March.” That leaves just a short time before the price …
Patrick sent us a link to a promising new steam engine design. (I mentioned it once before in the blog, but their web site has recently been expanded, so it is worth another look.) o o o Steve sent this: Citi Falls on Worries About Cash Levels. Steve’s comment: “The largest banks are in trouble and main stream media is reporting it.” Meanwhile, we read: Wall Street to Citigroup: Come clean o o o Two more links from Eric, with more cheery news from abroad: International experts foresee collapse of U.S. economy and, Already we have riots, hoarding, …
Don’t miss watching this brief video clip: John Williams of ShadowStats Warns: Economic Depression Ahead. (A hat tip to William D. for spotting that video link.) o o o Jason B. sent us this: Gulf investors may not save Citigroup, Dubai executive says. Jason’s comment: “JWR’s prediction of bank runs may come sooner rather than later.” Meanwhile, we read: Banks’ Losses Could Put $900 Billion Squeeze on Consumers. o o o In a recent issue of The Daily Reckoning, Bill Bonner commented: “Among the Fed’s efforts to relieve the bankers’ pain has been a new line of credit – …
Fraud compounds woes of housing crisis. (Thanks to Heghduq for the link.) o o o A reader in South Florida wrote to ask me why I had “an unrealistic view of the [investment] potential for farmland” and why I “such a strong emphasis on buying farm ground” when coastal and resort properties “have appreciated so well for more than 30 years.” I have a news flash for her: For the next 5 to 10 years, coastal and resort property will probably go substantially go down in price, but good productive farm ground is going to go up in price. …
Mainstream market commentator Robert Kioysaki recommends buying silver coins in this piece: The Profit of Doom A SurvivalBlog reader mentioned that Kiyosaki was one of the few mainstream market mavens to recognize silver as a bargain fairly early on. Meanwhile, a lot of his colleagues with stock and bond tunnel vision are still in denial. o o o Lex found this from The Wall Street Journal: Will Thornburg Join Failed Lenders? o o o Thanks to Sapa for flagging this: Zimbabwe bans ‘unlawful hoarding’. The illegal “hoarding” threshold is absurd–the equivalent of just $21 USD! o o …
My old friend Jeff moved to England to get his final sheep skin–a doctorate degree. He tells me that the price of gasoline (“petrol”) now averages £1.09 GBP per liter in the Thames Valley, and that he has seen it advertised for as much as £1.50 GBP/liter out on the highways. At current exchange rates, £1.50 GBP equals $2.97 USD. Now, multiplying liters to US gallons (x 3.785) that equates to a heart-stopping $11.24 USD per gallon. Ouch! (For comparison, I most recently paid $2.98 per gallon, locally, but I’ve seen it as high as $3.05) OBTW, Jeff mentioned that …