Just when we thought the economic headlines couldn’t get much worse, Mark P. for spotting this: Downturn accelerates as it circles the globe: Economies worse off than analysts predicted just weeks ago. And Paul A. sent this grim deflationary prediction from Mish Shedlock: Extreme Leverage In Reverse Portends Global Systemic Crash. Whether the incipient crash is deflationary, or inflationary, or a whipsaw of sharp deflation followed by sharp inflation (which is my personal prediction), you should get you beans, bullets, and Band-Aids together and stand ready!
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Mike W. sent us this “must read” piece from NASA on Severe Solar Storms, Power Grids, and the Web of Interdependent Systems
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Trent flagged this: Citigroup, Bank of America May Look ‘Nationalized’. And Cheryl sent us all these items: “Bad Bank,” Bad News — How Big is Britain’s Toxic Debt? — Britain on Brink of Depression — Lights Go Out Across Britain as Recession Hits Home — The Fed: Life After Zero — Shipping Rates Hit Zero as Trade Sinks — China Prepares for Year of the Slump — Britain May Seek IMF Bailout — Fears Confirmed: Recession Fuels Crime Surge — Iceland Government on Verge of Collapse — Jobless Claims Surge, Housing Starts Tumble — Code Red: Economy in Collapse — JP Morgan Chief Says Worst of the Crisis Still to Come — Special Forces Rescue Icelandic PM from Furious Credit Crunch Rioters — Stores Closing in 2009
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For the “It Comes as No Surprise to Us” Department, SurvivalBlog reader Florida Guy forwarded this article: Bad Times Spur a Flight to Jobs Viewed as Safe. (FWIW, I’ve been cautioning about the need for recession-proof income streams for years! It is not too late to launch a home-based business. And it just might turn out to be your ticket to making a good living out in the hinterboonies.)