U.S. Mint production of Nickels (five cent pieces) is up 78%. (Also see this related article: US Mint Circulating Coin Production Shifts to Lower Denominations.) JWR’s Comment: That large an increase can’t be attributable just to collector demand. Obviously, a small but forward-thinking portion of the citizenry is anticipating a debasement, and these wise folks are stockpiling nickels. Methinks the next 18 months could turn out to be a bit of 1963 and 1964 deja vu. Mark my words: Congress will act. Debasement is coming. Get your nickels before the composition change. (That is, before you have to hand sort coins.)
27 Statistics About The European Economic Crisis That Are Almost Too Crazy to Believe. [JWR Asks: What will life be like in the U.S. when we go into a similar austerity mode?]
Joe M. mentioned this video rant: Foreclosure Dam Ready To Break
Jeff P. spotted this by John Grgurich of The Motley Fool: Is Another Banking Crisis Staring America in the Face?
Items from The Economatrix:
10 Signs That The Job Market Is Improving
Lenders Again Dealing Credit to Risky Clients.
Fed Prepared to Act, But Only if Economy Weakens [JWR Notes: Are we supposed to be impressed with their restraint at creating money out of thin air? Any bets about how long they stay on the “no debt monetization” sobriety wagon?]