Economics and Investing:

Justin sent us a link to an excellent documentary on the chain of events in the global credit collapse, with a bit of pro-interventionist coloring from PBS: Inside the Meltdown.

Heather sent us this: Volcker: Crisis May be Even Worse than Depression

Jim Willie nails it: Russia’s Post U.S. New World Order Blueprint ( A hat tip to KT for the link.)

Luddite Jean in England sent us three bits of news of ill-portent: £2trillion – the terrifying total of our national debt… that’s £33,000 for every man, woman and child in Britain. —
Car industry in meltdown as plant faces ‘imminent’ closure with loss of 100,000 jobs and production plunges by 58%. — Repossessions soar by 54% in a year as 40,000 people lose their homes.

Items from The Economatrix:

Gold Demand Surges by 1/3 to $100 Billion

Record 881 US Auto Dealers Closed in 2008

Wall Street Slumps as Dow Hovers Around Three-Month Low

UK Public Finances Deteriorate Dramatically

Giants Swiss Re and BNP Paribas Report Severe Losses

Ukraine Crumble Triggers Fear Through Europe

Foreign Firms, Investors Flee Ireland

Bank of Japan to Buy 1,000 Billion Yen of Corporate Bonds

Dow Ends Thursday at Lowest Close in More than Six Years

Sarkozy Announces $6 Billion in Aid to Avert Unrest

Rising Debt May Overwhelm Obama’s Bailout

US Bank CEO: TARP Program is Lousy

GM, Chrysler Seek $21 Billion More

Newly Poor Swell Food Banks Nationwide

GM Shares Hit 74-Year Low

Bank Fears Hit Wall Street; Dow Down 6.2% for the Week, S&P off 6.9%



Odds ‘n Sods:

LRG spotted this: Cave house for sale in Festus, Missouri

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I just heard about another preparedness blog The Prudent Home. Check it out.

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Oxy sent this: Scratch Guadaloupe off the list of possible retreat locales.
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The JPFO’s latest Talkin’ to America show features and interview is with Mark Spungin, the author of “Neither Predator nor Prey“. Mark’s novel is about the reaction by a minute percentage of Wyoming gun owners to a nationwide ban and confiscation of firearms.



Jim’s Quote of the Day:

“Abilene is a town of an armed citizenry. This tends to make relations both peaceful and respectful.” – James Butler (“Wild Bill”) Hickok, while City Marshal of Abilene, in an interview with an eastern newspaper reporter. (Until Hickok’s reply, the reporter had thought Wild Bill himself was the reason.that Abilene was so peaceful for the locals)



Letter Re: The Risk to Reward Ratio in Getting Concealed Carry Permits

Jim,
Thank you for your excellent site. I’m here every day.
My wife and I are considering getting Concealed Weapons Permits. Do you recommend getting a permit? Is it a good idea, or is it a red flag that would attract the unwanted attention of our government officials? Do you have a permit? I would appreciate your insight. – The Forester

JWR Replies: I do not have a CCW permit, but I have the benefit of living in an open carry state. I don’t issue any blanket advice on concealed carry. Everyone has to weigh the risks and benefits of licensure for themselves, in their own particular circumstances. Since I live in a lightly-populated region with low crime, I decided that the high profile that goes along with getting a CCW permit wasn’t justifiable. I am far more worried about being mauled by a bear when out berry picking than I am getting mugged. Street crime is virtually unheard of here in TUWS. (Robert Heinlein was right: An armed society is a polite society.) Again, the decision on whether or not to get a CCW permit is personal judgment call. For many SurvivalBlog readers living in high crime areas, getting a permit would probably be advisable.

BTW, I wouldn’t be surprised to see Utah, Idaho, Montana, Wyoming and perhaps the Dakotas all “going Alaska” in the next few years–dropping the requirement for a CCW for carry inside city limits. This has been the case in Vermont since time immemorial, and the CCW permit requirement for inside city limits was recently dropped in Alaska. (In many southern and western states it is already legal to carry conceal outside of city limits.)



The Winning Edge: Safe Dry Practice, by John Parker, Jr.

I’ve often been asked for advice on how a shooter can improve his or her proficiency at arms, and it seems that the questioner is almost always expecting some magical tidbit of “gouge” that will bring out their “A” game. Apart from analyzing form and talking about mechanics, one thing that I universally recommend, and almost always find lacking in the normal routine of many shooters, is dry practice.
The term “dry practice” includes many things, but to put it simply and encompass all applications, it is firearms training conducted without live ammunition. Far from a replacement for live fire training, dry practice is, however, an essential and exceptionally useful tool in improving everything from presentations to reloads to trigger control and beyond. Its application to a program of training can help with any firearm related endeavor, and if you aren’t doing it now, you should consider adding it to supplement your live fire training.

So, how does one go about this dry practice? First, one needs a safe place to conduct it. We are training without live ammunition, but human fallibility still applies, so a safe backstop is requirement number one. In the event that a live round finds its way into the mix despite all our precautions, which we will discuss shortly, a safe backstop will limit the event to an embarrassment instead of a possible tragedy. I often use a 40mm ammo can filled with sand to affix my target to, and place this in front of a stout exterior wall. Basement walls are ideal for this. Ballistic panels, such as those made by Second Chance and Point Blank, also work well to affix targets to, and you are really limited only by your imagination, as long as your backstop will reliably stop the caliber of arm you intend to conduct training with, even if you were to not strike your intended aim point. Targets can be anything from the actual targets used in a competitive discipline to scaled silhouettes replicating distance in the confines of the practice area to squares of tape or target pasters. Col. Jeff Cooper even recommended the “televisor” as a dry practice aid, as he stated he could get along quite nicely without it. (Placed against a safe backstop, of course!) Your mileage may vary on this one, for many reasons. I would recommend saving yourself a potential television replacement trip to Best Buy and using more mundane targetry. Other considerations for the training area include floor composition—when conducting pistol or carbine reload drills you don’t really want to be dropping magazines onto a concrete floor hundreds of times (cardboard and carpet are your friends!)—and also separation. You want your practice area well-defined so that all sources of live ammunition can be kept out, and your mental focus can be devoted to the task at hand. One final note: no mirrors. While one may think that a mirror will help to observe and debrief practice sessions, their effect is always negative. Your attention will be focused away from where it should be, and the result will be negative training. No mirrors on the backstop, no mirrors anywhere in the area. If you want to be able to debrief performance, use a video camera.

Additional equipment includes dummy cartridges and “snap caps”. Snap caps, for the purposes of this treatise, are generically defined as inert cartridge simulations which include a semi-rigid or spring loaded surface in the primer area to cushion firing pin or striker fall. Some arms designs are better suited than others to omitting such aids, but I’ve always thought it wise to use them in all my dry practice to avoid striker/firing pin abuse. Snap caps can be found in nearly any caliber or gauge from Brownell’s, Midway, and other sources, and are made by A-Zoom, Armsport, Precision Gun Specialties, and other manufacturers. When practicing reloads and manipulations, dummy cartridges can be used to add appropriate “heft” to magazines. One does not reload with empty magazines, so it should not be so in practice. Dummy cartridges can be obtained from the same sources as snap caps, or can be manufactured if one is a reloader. I use cartridges reloaded with appropriate real projectiles sans primer and powder. My manufactured dummy rounds for this purpose are all marked “DUMMY” on the side of the case with a blue Sharpie pen, and projectiles are likewise colored blue. For dual purpose training aids on the cheap, dummy cartridges can be assembled with short length of nylon rod of the appropriate diameter (available at any hardware store) inserted into the primer pocket. The nylon rod will cushion the firing pin fall and last for a good long while.

Apart from these items, the appropriate firearm, magazines, holsters, and magazine pouches, are of course requisites, as is a container for live ammo downloading at the entrance to the practice area for use when practicing with a carry weapon that is normally kept loaded and on the person.

Dry Practice Safety Rules

This brings us to safety and prep. First and foremost, eliminate all sources of live ammunition. When entering the practice area, download your carry firearm, if appropriate, and place all rounds and loaded magazines into the live ammo container at the entrance to your practice area or range. A sealed container is best. Pat yourself down and check weapon condition before proceeding. Enter your practice area. I keep dedicated practice magazines and snap caps/dummy rounds in a box that gets placed on a stool in my practice area. Ensure that this box is visibly different from the live ammo container. Now, inspect all magazines and training cartridges to be sure they are what they are supposed to be. Inspect the primer area of all dummy cartridges, and check weapon condition again. Do this every time you begin practice. If, for any reason, you are interrupted during your training, stop everything, and do not begin again until you have come back and completed the inspections again. Now conduct your training. Dry practice sessions should be no more than 15-30 minutes depending upon the discipline and intensity. After this, we get into the realm of diminishing returns and incorrect repetition. At the completion of training, Stop. Flip a mental switch out of practice mode. No more trigger squeezes, no more manipulations. Check weapon condition. Police up training aids and store them. Exit the training area and place the weapon in the desired condition at the live ammo area. Done.

So what do we actually “practice” in dry practice? As stated before, these sessions can be put to a myriad of uses. I tend to begin and end each and every session with pure fundamentals. Stance, grip, sight alignment, sight picture, slow steady trigger “roll”, drop the hammer/striker on a snap cap, follow-through, recover, repeat. For pistol, I include dominant hand and less-dominant hand only work as well. In the meat of my sessions, I pick out several items to work on ahead of time and concentrate on these areas. This is a great opportunity to work on presentations, especially in the case of pistol if you are unfortunate enough to be limited to live fire at a facility that frowns on holster work. End each presentation with sight alignment, sight picture, and I mix it up between stopping there and continuing through to trigger actuation. This prevents creating a conditioned response of always pulling the trigger after presenting your weapon. Work slowly and concentrate on form at first, gradually pick up to full speed, then push it past your limits a bit. Don’t get too carried away here, and if form deteriorates, it’s time to pull it back. After pushing it past the redline, I always come back to slow and deliberate again, and finish with normal full speed. This formula works for just about any area in which you wish to increase speed. Rifle bolt manipulations for hunting arms, tactical and speed reloads, malfunction drills, assuming firing positions, and many other drills can be incorporated. Drills do not always have to include trigger actuation. One of my staples is multiple target drills where I simply practice taking a sight picture on each of several Aimpoints, working on decreasing my target to target splits. Your imagination is the limit here, and further guidance on dry practice drills can be obtained from numerous books by the best and brightest in the shooting world.

On frequency of practice, this is up to the shooter. When deployed in harm’s way, I have dry practiced nearly every day in one form or another with primary and/or secondary weapons systems. When stateside, my frequency drops off a bit depending on the minutiae of everyday life, but at a minimum, I can find at least one or two times a week to devote to dry practice, no matter how hectic things get, and usually more. It’s not hard to find 30 extra minutes a week if you make it a priority. This small investment in time will quickly show its many rewards in your live fire training. Remember to use a safe backstop, separate yourself from all live ammo, check and recheck weapon condition in all phases of practice, and remember, above all, that you are handling a live firearm—do not treat it as anything else, and remember to observe all basic safety rules.



Economics and Investing:

We’ll start with a bit of levity, to temper all the recent bad news: The Monster Crash. (Kudos to Richard at KT Ordnance for sending the link.)

I’ve added 90-Day and 5-Year price charts for silver and gold to the bottom of my Investing page.

Reader M.H. sent a reminder that anyone in the US that is expecting a tax refund on their state income tax should file their tax returns as early as possible this year. As states increasingly run into budget crises, some taxpayers that wait until April 15th to send in their tax forms may end up out of luck–and end up waiting for many extra months to get their tax refund checks.

Robert B. sent us this: New Gulf currency ‘Khaleeji’ poised to be Gold backed to remove ‘Riba’

From Ben H.: US Federal 2008 deficit was really about $5 trillion

RSR spotted this: Beer No Longer Recession-Proof

Items from The Economatrix:

US Economy: Housing Starts, Factory Output Plunge

The Crash of 2009 is Coming to YOU!

1 in 5 California Public Workers to be Fired

BofE Seeks Power to Inject More Money into Economy to Fight Recession

Britain’s AAA Credit Rating Threatened by Scale of Bail-Out, Says S&P

Fed Says Economy Even Worse than Thought

Growing Stocks of Unsold Cars

HUD: The Mortgage Crisis is a Jobs Crisis

Nearly 5 Million Americans Receiving Unemployment Benefits

California Legislators Finally Approve Budget

Public Fears about Troubled Economy Growing

Gold Primed to be “Mania Asset”

It’s Getting Ugly: Economist Says Hoard Gold and Scotch

The Burning Platform Here is a quote:”When I see Senator Charles Schumer of New York make a speech on the floor of the Senate saying, ‘And let me say this to all of the chattering class that so much focuses on those little, tiny, yes, porky amendments, the American people really don’t care’, I want to throttle him.”

It Will Happen (The Mogambo Guru)

Investors Rush into Gold Coins



Odds ‘n Sods:

SF in Hawaii found this fascinating web page about a secret underground ammunition factory built under the noses of British administrators in Palestine: The Ayalon Institute

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I found these personal accounts captivating: Urban Survival Stories.

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OSOM sent a link to this two-minute video clip: War Zone Detroit

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Bob at Ready Made Resources mentioned that between now and March 7th, they can offer 215 watt REC (Norwegian) and Evergreen Solar (American) brand photovoltaic power panels an unprecedented cash price of just $3.75 per watt! (Plus shipping.) This is an amazing price, considering that the prevailing price is around $5 per watt plus shipping. When you consider the state solar power incentives, plus the new Federal tax credit incentive, this makes a PV power system quite affordable. Why buy a gas-guzzling generator with a service life of a few thousand hours, when you could buy PV panels to provide self-sufficient and dirt cheap power, lasting for decades? Call Ready Made Resources at 1(800) 627-3809 for the special pricing. See their web page for specifications.





Note from JWR:

Our spin-off web site, SurvivalRealty.com (my #1 Son’s venture), has several new retreat property listings, including the first one in Australia.



Letter Re: Gun Show Report–The Full Capacity Magazine Feeding Frenzy Continues

Mr. Rawles:
I took your advice you posted last year and have been investing in some high cap magazines. I’ve bought about $2,000 worth since the [November 2008 presidential] election, and I haven’t had any second thoughts. Thank you sir, your advice is making me a tidy profit. The 75-round Romanian [RPK] drums that I bought for $135 each the day after the election are now going for $250 each. And the 31-round Glock 9 milly magazines that I paid $33.50 each for are now going for $65 each. Oh, I found +2 [magazine floorplate extension]s for those, so now they are all 33 rounders. I figure those mags will be over $100 each in a couple of months.

My real coup de largesse was this past weekend, when I went to a local gun show here in Texas. (There is a gun show just about every weekend, somewhere in Texas. Some just take a day of driving to get to!) The place was a mad house. It took 30+ minutes to stand in line just to pay to get in the door. People were buying mil surplus ammo and magazines like crazy. Basically the ammo and mags were all sold out by noon on Saturday. And most of the “black guns” were sold out buy the time they closed the doors Saturday night. Prices on magazines have basically doubled since the election.

Anyway, just after the show opened, I was scanning the tables, looking for high cap magazines–what else–when I spied a Mini-14 GB stainless, with an original Ruger-made 30-round magazine tucked up next to it. I was about to ask [the seller] if he’d sell the magazine separately, when I glanced at the gun’s price tag: $400! I just about died of an infarction on the spot. That is a great price on a fairly scarce model. (The “GB” is the LEO-sales model, with factory-installed flash-hider.) The seller–a nice old gentleman and a Korean War vet–said that he had put less than 500 rounds through it. The rifle’s looks matched the story, so I whipped out four Franklins and a copy of my driver’s license to show I was “Free, white and 21”. Anyway, we got all set (private party sale–my only way to business) to get the gun out the door, and the old timer says, “Oh wait, don’t forget the [factory shipping] box, and the magazines, they come with it.” He reaches under the table and lifts up a shoe box full of original Ruger 20s and 30s, some of them still in the white boxes! I nearly had a second heart attack. There were 11 [magazines in the box, of which] six were 30 rounders. That’s like $900 worth of magazines, these days! Later at the show I also scored four 20 round Beretta M92 “Robocop” mags, two [Steyr] AUG 42-rounders for $30 each, five AR-10 mags (for just $40 each–I’ve seen them advertised on Buddy’s board for $80 apiece!), a half-dozen “Okay [Industries]” M16 mags, and big box of nearly new [Austrian] STG[-58] FN/FAL magazines–which for some weird reason are still around $15! I bought 23 of those. I talked the guy down to $12 per, since I cleaned him out.

Speaking of FAL .308 mags, my next purchase (already agreed, by phone) will be a DSA [FN/]FAL clone. I have to drive 115 miles each way to pick it up. I found it private party, [listed] on GunsAmerica.com. I’m now tapped out, but my dad is lending me the cash. I explained the situation, and he says that it is wise to buy it. [He said:] “We’ll have a good chuckle about the price, in a year or two!”

Here is my strategy on mags: Buy what you can, while you can–while prices are still halfway reasonable. I don’t own a Beretta 92, an AR-10, or an AUG, but I figure I can always trade [for what I need] later. And I practically had to buy that FAL, since I found all those magazines. (What a great excuse to buy a gun.) My only regret is that I didn’t have the cash to buy more magazines at the show. At the rate prices are zooming, Beta [C-MAG]s will pretty soon be back to $750 apiece, just like during the [1994 to 2004 Federal “Assault weapons” and 11+ round magazine] ban. .

Thanks again for your advice, sir. Your were right about silver. You were right about magazines. And for that matter you were right about derivatives, too. The world seems more and more like the first chapter of “Patriots” every day. (What, were you psychic?) I’m taking [your novel] to heart. I got all my “beans”, and “bullets” in hand, now I just have to work on the “Band-aids”. Thank You, Sir! – Matt E. in Texas (Soon to be a 10 Cent Challenger and an Appleseed qualified rifleman.)

JWR Replies: I’m glad to hear that you stocked up. You won’t regret it. Those extra magazines will make fine barter items, both before and after a “Crunch.” OBTW, I’m not the only that is one advocating investing in magazines. The following is from a recent e-newsletter from firearms training guru Gabe Suarez:, advocating preparedness: “…Then get as many magazines as you can justify. Glock magazines are going for about $35 now. A year ago they were under $20, and dealer price two years ago was about $12! At the height of the assault on freedom known as the Crime Bill, they were selling for $125. Forget Ameritrade, buy magazines.”



Letter Re: It Looks Like the End is Beginning

James,
A few interesting things happened in the market [on Tuesday]. This wasn’t in the market, but is relevant. Hearing lots of chatter generally about things moving to “the final phase”.

“Gold is moving as the last phase of the crisis appears to have started,” said Martin Hennecke, associate director with Tyche Group in Hong Kong.

I’m assuming that the last phase starts out with gold, silver, Treasury notes, and the dollar all moving up, together. (It is quite unusual for the dollar and gold to move together, even though that’s been the case recently.) Then at some point – like a tired marathon runner that can’t keep up with the leader, the dollar quits climbing but gold doesn’t. That would be the real indication of the beginning of the end.
The Dollar drops, Treasury bonds start to go unpurchased causing yields to start soaring, tax collections come up short, States start defaulting on their bonds, Uncle Sam follows suit, and it all takes one final big swirl around the commode before collapsing.

In other metals trading, March copper tumbled 7.4% to $1.425 a pound, while March silver rose 3.6% $14.11 an ounce. March palladium added 1.2% to $219 an ounce, and the April contract for sister metal platinum rose 2.9% to $1,091.70 an ounce. I’m not even going to comment about oil today. What’s much more important is that the copper market essentially collapsed today. Copper is the industrial metal. It predicts manufacturing and production for the next 6 months to a year. You don’t build anything – certainly nothing electrical or electronic, without it. It’s used in chips, cars, houses, bridges, airplanes, tractors, and dozens of other places – you can’t even build roads without it.

A collapse of copper like this says that things are falling apart fast, and the economy has no direction to go but down for at least the next six months.. Given the Dow closing under 7,800, we should soon see a flood of bank and other financial institutions fail. It doesn’t appear that things will be changing direction any time in 2009.

Frankly, I don’t have a good feeling about our prospects of making it through the end of the year – it’s looking worse every day. Y’all might want to start thinking about moving to condition yellow. Double checking supplies, having your vehicles serviced, buying stuff by the case next time you go to the store, rather than by the can. – RSB



Letter Re: Survival Retreat vs. Neighborhood Survival — Part Deux – Galt’s Gulch vs. Idiocracy, by E.B.

Sir,

Although it is enlightening to hear of various approaches to Survivalism, I don’t believe that conspiracy theories should get much play during this very serious time we are living through. E.B. mentions the World Trade Centers collapse, vaccination, sugar, aspartame, fluoride and the AMA monopoly . While some of these may be real concerns, this is not a proper focus at a time when the infrastructure is collapsing around us. It’s like trying to investigate the cause of the Titanic sinking during the time the ship is going down. During that time period, the why doesn’t matter. What matters is making your way to the lifeboat.

Conspiracy theories are sure to be seized on by mainstream media as evidence that Survivalists are nuts. SurvivalBlog should concentrate on things we can do something about right now – Beans, Bullets, and Band-Aids.

On Monday, SurvivalBlog linked to the excellent and revealing speech by Dimitri Orlov: Social Collapse Best Practices. Orlov said that “at the end of 2008, I announced on my blog that I am getting out of the prognosticating business. …. collapse is well underway, and now I am just an observer.” He made the point that now is the time to deal with the basics: “Food. Shelter. Transportation. Security.”

Orlov is right. Even though most of us probably think the government is corrupt, that can’t become the focus. Practical preparedness is what really matters right now. Let’s keep SurvivalBlog on track. – K.L. in Alaska

JWR Replies: Your point is well-taken. While I don’t agree with everything that E.B. espouses, I do my best to accommodate a variety of viewpoints in SurvivalBlog, some of which are out of the mainstream. FWIW, you would not believe the sheer volume of whacko e-mails that I get, that make E.B’s postulates seem quite tame by comparison. Nearly every day I get rants on everything from Gray Aliens building massive underground bases and tunnels, to sightings of boxcars equipped with shackles. These are mostly from the “I believe in everything” Coast-to-Coast AM radio show crowd. Discernment seems to be a scarce commodity in some circles. You name, I get it. (And then I get follow-up e-mails, asking why I didn’t post their earlier e-mails, inferring or outright accusing me of being part of an organized Cover-Up Conspiracy.) Most SurvivalBlog readers don’t realize how much nonsense and blather I have to filter out.

I chose to post E.B’s letter intact. I’m sure that I get grief about it, but he makes some valid points and in my opinion he deserves to be heard, at least regarding his preparedness strategy.

Editor at Large Michael Z. Williamson Adds: I’d just like to point out that diesel fuel does melt “structural steel”: Structural steel is low carbon alloy (1015, 1020) that every blacksmith uses, and that most people wind up deforming in their fireplace as the grate ages. I’m not going to comment on any other Sep 11 theories. One can choose to believe the engineers of the world, or believe they’re all part of a conspiracy. I’m just going to point out that “structural steel” will only resist fire in your house for a few minutes before failing. 1,000 degrees Fahrenheit (attainable in any fireplace, barbecue or structure fire) will reduce its strength by 50%. At 2,000 degrees Fahrenheit (easily found in the center of most fires) it melts into decarburized slag. It is not a magic barrier against bullets or flames.



Economics and Investing:

Brett forwarded this item: Depositors turned away from Stanford banks

Garth S. sent this New York Times news story link: Laid-Off Foreigners Flee as Dubai Spirals Down. Garth’s comment: “At least [in America] we don’t have debtors prison.”

From Todd S.: Swift, steep downturn crisscrosses globe

G.G. flagged this: Publishers See Red, Magazine Ad Pages Down 21.5% in Q1

Thanks to Robert B. for sending this: Sales Tax Time Bomb Explodes as Consumption in Freefall

The Drifter sent us a link to this piece by Mish Shedlock: The Nationalization Train Has Left The Station

FloridaGuy flagged this: Gold hits record against euro on fear of Zimbabwean-style response to bank crisis (JWR Adds: The current “strength” of the US Dollar is in actuality just a manifestation of the weakness of the Euro, since European banks are in even deeper Schumer than American banks. It is all relative. All the paper currencies are on the same path, but some are just moving more rapidly down the path to destruction than others. For safety, buy silver and gold. Get out of paper currencies and any investments denominated in those currencies. This is the age of tangible investments!)

Items from The Economatrix:

Obama Unveils $75 Billion Mortgage Relief Plan

EU’s Battle with Depression

Baby Boomers: Your Generation’s Crisis Has Arrived

US, UK, Euro Banks Face Collapse: Global Banking System Insolvent

Eastern European Economies About to Explode in a Chain Reaction of Debt Default
“An economic crisis is quickly turning into a political crisis. Riots have broken out in capitals across Eastern Europe. Mr. Geithner had better be paying attention.”

World Stocks Tumble as Bailout Confidence Fades

Fed Banker Warns of Deflation

In Times of Crisis, Never Forget the Value of Gold

The New Currency Trade: Gold vs. All Else

Brzezinski: H*ll, There Could Even Be Riots

Bad News from America’s Top Spy

Oil Slips Below $35 as Global Markets Tumble

Stocks End Day Flat After Obama’s Housing Plan Unveiled



Odds ‘n Sods:

FloridaGuy sent us this: Camera convicted him but raised battle over privacy

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Paul A. spotted Las Vegas, Nevada article: Deadly home invasion near Lamb & Las Vegas Blvd. this is reminiscent of the Phoenix news clip that I featured last week. Gee, perhaps I ought to start a running tally. Here’s a start: Armed Homeowners 2, Home Invaders: 0

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Our thanks to Bobby C. for sending this: Mississippi Passes Regulation Protecting Gun Owners During Martial Law

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A bit more of our privacy crumbles away: Anonymous Caller? New Service Says, Not Any More (A hat tip to KAF for the link.)



Jim’s Quote of the Day:

"What has been, what ever must be, the consequence of such a sudden and prodigious inflation of the currency? Business stimulated to the most unhealthy activity; a vast amount of over production in the mechanick arts; a vast amount of speculation in property of every kind and name, at fictitious values; and finally, a vast and terrifick crash, when the treacherous and unsubstantial basis crumbles beneath the stupendous fabrick of credit, and the structure falls to the ground, burying in its ruins thousands who exulted in the fancied security of their elevation. Men, now-a-days, go to bed deeming themselves rich, and wake in the morning to find themselves stripped of even the little they really had. They count, deluded creatures! on the continued liberality of the banks, whose persuasive entreaties seduced them into the slippery paths of speculation. But they have now to learn that the banks cannot help them if they would, and would not if they could. They were free enough to lend their aid when assistance was not needed; but now, when it is indispensable to carry out the projects which would not have been undertaken but for the temptations they held forth, no further resources can be supplied." – William Leggett, Plaindealer, December 10, 1837