DAV flagged this piece of commentary from Edward Chancellor at The Washington Post: Look Out. This Crunch Is Serious. Meanwhile, writing in the Sovereign Society A-Letter, Kathlyn Von Rohr commented: “The sub-prime crisis that was “likely to be contained” according to Federal Reserve Chief Ben Bernanke back in March – brought more havoc to Wall Street this week. Now that “financial market conditions have deteriorated,” the Fed has changed its tune, as they chopped the discount rate yesterday.” In my estimation this will get a whole lot worse before it gets better. The current crunch has essentially shut downthe major credit markets. That will create a shortage of working capital for manufacturers. Simultaneously, hearing all this bad the financial news, consumers are sure to tighten their belts. This spells recession, or possibly even depression if the panic spreads. Be ready.
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RBS sent us this link: Former US Marine Corps Presidential Helicopter Pilot, 71, Shoots Two Armed Robbers. I’d be happy to send him a autographed copy of my novel and some ammo to replace his expended rounds. If any SurvivalBlog readers have his address, let me know.
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Wally in Oregon notes that there was some looting unpleasantness following the recent big earthquake in Peru. Wally predicts that things similarly won’t be friendly after an event of the same magnitude here in the States.