Category: Odds ‘n Sods

More fallout from the global liquidity crisis: GE Plunges as Profit Misses Estimates, Forecast Cut, and Airlines Face New Cash Challenge, and G7 Economic Powers Endorse Plan to Try to Avert Financial Crises. There will be far, far more fallout in the months to come, as the numerous industries and even national governments are starved for cash.    o o o Rick M. suggested an excellent article by attorney Ellen Brown: Credit Default Swaps: Derivative Disaster Du Jour. Her article keys in nicely with the background piece that I wrote more than two years ago: Derivatives–The Mystery Man Who’ll Break …

I recently got an e-mail from reader Terrence G., who claimed that the national debt figure was “meaningless” because the Federal Government could merely “create” money, at will. But I have a dose of reality: That debt is real, it is increasingly held by foreigners, and debts must be repaid. Worst of all, it is growing at an alarming rate (See: The National Debt Clock.) OBTW, after you are done reading the rest of today’s blog, hit “reload” at that same site, and see how much debt our nation has accumulated in just those few minutes. Someday, our grandchildren will …

I was glad to see that gold touched $940 per ounce yesterday morning. The fact that it did so, just one day after announcement of a 403 ton IMF gold sale was quite encouraging. At this point, I don’t think the central banks will be able to stop the precious metals bull market without doing something drastic. The banksters will start to get nervous once gold passes $1,200 USD per ounce. And at $1,580 (which roughly equals €1,000 Euros per ounce), they will get truly desperate. At that point, both the Dollar and the Euro will be recognized as the …

RBS flagged this: Food Prices Soar as Farmers Bail on Corn.    o o o Horton suggested some good commentary by Aubie Baltin, posted over at Gold-Eagle: A Time for Reflection    o o o Ready Made Resources now sellsan inexpensive and lightweight solar oven that works quite well. The stove with shipping (in the US) is just $44.95    o o o Bill from Ohio kindly sent us a plethora of recent news article links related to the world’s now scant food supplies: Food riots in Haiti: BBC article and YouTube video. Rising prices around the world Rice price …

The magic credit tap is turned off: Citigroup, Wells Fargo May Loan Less After Downgrades Meanwhile, we read: Fed members worried about deep recession   o o o A reader mentioned that Cme Brew is offering a special “stock up” price of $168 (plus shipping) for 50 pounds of current crop, gourmet Arabica coffee beans for home roasting. These beans will store for up to three years. They also have bulk teas in 1 kilo (2.2 lbs.) glass lined, heat sealed bags. Chun Mee, and Special Gunpowder “Temple of Heaven” green teas are $22 per kilo, plus shipping. Each kilo …

Remember how I predicted that the global credit crisis would spawn a wave of forced buy-outs, mergers, acquisitions, and liquidations? Here is news of another one: Washington Mutual close to $5 billion deal with TPG, others. Be prepared for more mergers, many of which will be cases of “strange bedfellows” involving credit unions, pension funds, and perhaps even cities (municipal bonds). Derivatives contract defaults will indeed force some very odd partnerships and salvage operations. If managers’ only options are bankruptcy or buying out the counterparty to a derivative, then guess which they will choose?    o o o Frequent contributor …

Our friend Michael Bane, a gun writer and video producer (of Down Range TV and “Shooting Gallery” on The Outdoor Channel) now has short review segments on Ruger’s new polymer frame SR9 and LCP .380 pistols. The latter, weighing only 9.4 ounces looks like a cross between a Seecamp and a Kel-Tec. I’m not a fan of the pipsqueak .380 ACP (9mm Kurz) cartridge, but a gun that is close at hand at all times is vastly superior to grasping at air when trouble arrives. Concealed carry is, after all, a compromise. If I was expecting trouble, I’d be carrying …

Mark from Michigan sent us this: Homeland Security Blinks on Real ID Plan. o o o Rice Jumps to Record on Speculation Demand Will Outpace Supply.

RBS recommended this article from Fortune: The great inflation cover-up    o o o SurvivalBlog reader “CC” in Centennial, Colorado, asked for my recommendations for local preparedness gear dealers, since he doesn’t like the “paper trail” created by mail orders. (This, I have noticed, is a common concern among SurvivalBlog readers, and I don’t blame them.) One store that I can recommend for anyone in the greater Denver metropolitan area is The Ready Room, in Littleton, Colorado. Phone: is (303) 298-9911. Another “cash and carry” buying opportunity is the Tanner Gun Show, in Denver.    o o o I’ve been …

Food Stamp Users to Reach All Time High    o o o Some commentary from Peter Schiff posted over at Gold-Eagle: Let the Housing Chips Fall    o o o Given the source, this is not to be taken too seriously: Ted Turner predicts ‘mass cannibalism’ by 2040    o o o Some old news from NASA Possible asteroid impact in 2029? For some background, here is a primer on the Torino Scale.

Hawaiian K mentioned a Gizmodo blog piece that has some interesting metrics on oil versus biofuel production.    o o o Bill S. flagged this: A Grim Tradition, and a Long Struggle to End It. Bills’ comment: “Another excellent reason to avoid border areas when selecting retreat locations.”    o o o Reader KAF found this piece that shows that the Mother of All Bailouts (MOAB) will undoubtedly grow, and grow, and grow: Senate Leaders Unveil Bipartisan Plan to Slow Home Foreclosures    o o o Perennial Odds ‘n Sods contributor RBS forwarded this: Some homes worth less than their …

Reader “Suz” recommended United States Plastic Corp., in Lima, Ohio as a supplier for food grade HDPE storage buckets. Although they are a large-scale manufacturer, they are willing to take fairly small orders directly from the public. Suz said that it was a pleasure doing business with this “God-owned” company.    o o o KAF mentioned this piece on rethinking and revisions in Cardiopulmonary Resuscitation (CPR).    o o o Mark C. flagged this: UBS Gives Haircuts on Auction Rate Securities    o o o Thanks to Hawaiian K. for finding this: Analyst Predicts Corn Rationing in 2008

Our recent mention of Backwoods Home magazine‘ prompted reader RJV to note: “Don’t miss some of the gems from their [extensive] archives, such as this piece on do-it-yourself steam power.”    o o o Eric found this: Diesel thefts on the rise; demand increases for locking caps. Eric’s Comment: “As someone with a rebuilt diesel BOV that includes 70+ gallons of on-board diesel fuel I too am thinking about putting locking fuel filler caps on my truck. I also came across an interesting installable anti-siphon device that might be of interest to some.” JWR Adds: I generally discourage installing an …

Stephanie in Arkansas mentioned that there are some plans for do-it-yourself gravity water filters posted over at the Alpha Rubicon site. JWR Adds: OBTW, while you are there, be sure to check out their many other references available for free download. It is a great site that has done yeoman service in preparedness circles.    o o o From Al Jazeera television, of all places: Montana Has a Lot of Guns.    o o o Dennis found us this commentary on long term Social Security obligations: Glenn Beck: The $53 trillion asteroid    o o o Luis in Utah sent …

Home Equity Loans as Next Round in Credit Crisis Don’t miss one key point that was buried near the end of the article: “…many people added second loans after taking out first mortgages, so it is impossible to say for certain how many homeowners have multiple liens on their properties.” Clearly, there are a lot of home buyers (I’ll refrain from calling them home owners, since it is the bankers that still hold controlling interest) that are getting “upside down” in their mortgages. Without a doubt, much more jingle mail is coming, as property prices continue their downward spiral.    …