Thursday, June 30, 2011

Economic Armegeddon Explained

Hedge Fund Manager Drops ATM Receipt Showing 100 Million Dollar Bank Balance

Everyone hates having to pay cash withdrawal fees.
But, reassuringly, after one extremely wealthy individual dropped an ATM receipt showing a $100 million bank balance, it appears even multi-millionaires have to stump up $2.75 to access their vast wealth.
The receipt, which according to one website belongs to billionaire hedge fund manager and Hamptons resident David Tepper, shows an enviable bank balance of $99,864,731.94.

Read more: HERE

Confirmed: Radiation in Our Food

Though the horrendous tsunami that hit Japan on March 12, 2011 seems like old news in the midst of today’s headlines, the crippled nuclear power plants at Fukishima Daichi continue to spew radiation into water, air and soil, with no end in sight. 
Even as thousands of Japanese workers struggle to contain the ongoing nuclear disaster, low levels of radiation from those power plants have been detected in foods in the United States. Milk, fruits and vegetables show trace amounts of radioactive isotopes from the Fukushima Daichi power plants, and the media appears to be paying scant attention, if any attention at all. It is as if the problem only involves Japan, not the vast Pacific Ocean, into which highly radioactive water has poured by the dozens of tons, and not into air currents and rainwater that carry radiation to U.S. soil and to the rest of the world. And while both Switzerland and Germany have come out against any further nuclear development, the U.S. the nuclear power industry continues as usual, with aging and crumbling power plants receiving extended operating licenses from the Nuclear Regulatory Commission, as though it can’t happen here. But it is happening here, on your dinner plate.

Read more: HERE

US cost of war at least $3.7 trillion and counting

When President Barack Obama cited cost as a reason to bring troops home from Afghanistan, he referred to a $1 trillion price tag for America's wars.

Staggering as it is, that figure grossly underestimates the total cost of wars in Iraq, Afghanistan and Pakistan to the US Treasury and ignores more imposing costs yet to come, according to a study released on Wednesday.

The final bill will run at least $3.7 trillion and could reach as high as $4.4 trillion, according to the research project "Costs of War" by Brown University's Watson Institute for International Studies.

In the 10 years since US troops went into Afghanistan to root out the al-Qaida leaders behind the Sept. 11, 2001, attacks, spending on the conflicts totaled $2.3 trillion to $2.7 trillion.
READ MORE HERE

Stiff The FED

Wallace, Idaho - Ron Paul has written a book, End the Fed, well known in these circles. We have a better idea: Stiff the Fed.

In case you missed it, the financial cable network CNBC actually produced something informative a little while ago. It listed our 15 biggest creditors, the entities to which the captive citizens of the United Snakes of America owes money.

Canada, which we always held as infinitely more sensible, turned up in the Top 15 for the first time. We owe Canada $3.6 billion. Coming in at 14th is Hong Kong, at $138.9 billion. We owe the Cayman Islands' banking centers $146.3 billion. Twelfth is Brazil; we're into them for $184.4 billion. We owe OPEC $210.4 billion. We owe the insurance industry $261.8 billion. We owe domestic commercial banks and credit unions $269.8 billion, making theirs our 9th biggest I.O.U. The Brits and our own state and local governments are tied for 7th place at $511.8 billion each. We owe mutual funds $637.7 billion and pension funds $706.4 billion.

Are we beginning to see a pattern here? This thing is beginning to go logarithmic. We owe Japan $877.2 billion. China ranks a measly third: they've been shedding U.S. debt like crazy, converting it to stuff we used to do, like mineral and oil production, but they're still just a hair shy of a trillion, $895.6 billion to be precise.

The last two surprised us. Holders of U.S. Savings Bonds, and a category CNBC calls "other investors" rank No. 2, at $1.458 trillion.

And the Number One I.O.U.? Drum roll, please: it is our very own United Snakes Federal Reserve Bank, which has us on the hook for a staggering $5.351 trillion! That's right. We owe the Banksters in our own midst interest-bearing debt more than five times what we owe the Chinese we're always sniveling about.

We owe Ben Bernanke's crooked, miserable Jekyll Island creature 10 times more than we owe the money-grubbers at the counting houses in London. Noise from the cute brunette talking head at CNBC: "So no big deal, then - we just owe it to ourselves."
READ MORE HERE

Wednesday, June 29, 2011

The Screaming Fundamentals For Owning Gold And Silver

This report lays out an investment thesis for gold and one for silver. Various factors lead me to conclude that gold is one investment that you can park for the next ten or twenty years, confident that it will perform well. My timing and logic for both entering and finally exiting gold (and silver) as investments are laid out in the full report.

The punch line is this: Gold and silver are not (yet) in bubble territory, and large gains remain, especially if monetary, fiscal, and fundamental supply-and-demand trends remain in play.
Introduction

In 2001, as the painful end of the long stock bull market finally seeped into my consciousness, I began to grow quite concerned about my traditional stock and bond holdings. Other than a house with 27 years left on a 30 year mortgage, these holdings represented 100% of my investing portfolio. So I dug into the economic data to see what I could discover. What I found shocked me. It's all in the Crash Course in both video and book form, so I won't go into that data here.

By 2002, I had investigated enough about our monetary, economic, and political systems that I decided that holding gold and silver would be a very good idea, poured 50% of my liquid net worth into precious metals, and sat back and watched.

Since then, my appreciation for and understanding of the role of gold as a monetary asset and silver as an indispensable industrial metal have deepened considerably.

Investing in gold and silver is still a good idea. Here's why.
READ MORE HERE

Rich Dad Poor Dad-Collapse Coming

Obama Pushing U.S. To Economic Disaster: Google Founder

The eccentric and frugal billionaire college professor who helped Sergey Brin and Larry Brin develop Google has warned that US President Barack Obama is pushing the U.S. towards a path of economic disaster

Stanford University’s David Cheriton, who is worth almost $2-billion according to Fortune magazine, believes that innovative and creative American entrepreneurs are being driven out of the country by Obama’s fiscal policies.

Cheriton told BBC: “When you look at, say, Larry and Sergey of Google, they made billions of dollars, but they contributed many more billions of dollars to the US economy. And so we should be empowering these people; we should be cultivating more of the next generation of those types. And yet, I think there’s almost a hostile attitude towards people who have been successful in this country.”

He added balefully that “the people that are taking the risks… or would be taking the risks… [now] start thinking twice about what it means to do this in the US.”
READ MORE HERE

Tuesday, June 28, 2011

Can It Get More Corrupt? SEC Financial Regulatory Powers Might Be Handed Over To Wall Street

Congress may outsource the job of regulating thousands of investment advisors to an organization funded by the professionals it regulates, Bloomberg News reports.
Two and a half years after the worst financial crisis since the Depression, Washington lawmakers are focused on cutting funding from the government's oversight of the financial industry, even before last summer's Dodd-Frank law is fully implemented. House Republicans support a measure to flat-fund the Securities and Exchange Commission, to deny it resources that Democrats and SEC officials say are crucial to the protection of investors and the policing of financial crimes.
READ MORE HERE

"Ft. Calhoun Equals About 20 Fukushimas"

The reason there is a problem and why they aren't telling the truth is because, while Fukishima is equivalent to about twenty Chernobyls, Ft. Calhoun is equivalent to about twenty Fukushimas.
Not because it has a lot of reactors - or even a very big one. But because it is holding an immense amount of nuclear fuel in its cooling pool.
This isn't some elevated bathtub like the cooling pools at Fukushima. Oh, no. This cooling pool is forty feet UNDER GROUND AND forty feet ABOVE GROUND. It's EIGHTY FEET DEEP IN TOTAL. If they can't cool it, the corn belt is in trouble.
I'm guessing that it's the big rectangular building behind-left (actually touching) the round nuclear reactor containment building.
 
Why do I think that? Because it has no windows or ventilation and it's about the only building on-site large enough to hold the amount of spent nuclear fuel it has to hold - and, by the way, it was filled up to capacity in 2006 - which is why they had to start storing the excess spent fuel rods in those concrete dry casks outside of the pool. But I could be wrong. If I am, please send me a diagram - not an opiniongram.
 
The dry casks are visible near the top of the picture. They are grey concrete blocks set together on the large, grey square area.
The casks have white doors facing a little to the left in the photo. The NRC says there is 'no problem' should the casks become partially submerged by Missouri flood waters.
READ MORE HERE

Saxo Bank Quarterly Outlook Q3 2011: Maximum Uncertainty in the World

Monday, June 27, 2011

Physical Silver Contracts Coming To Hong Kong…

China is encouraging it’s citizens to buy metals. You can walk into any bank in China and buy gold and silver. (If you walked into our banks looking for gold or silver,they would look at you cross-eyed and then drool.)
Precious metals are advertised on the Chinese sites, but suspiciously missing from the English versions of those sites. Can you imagine our government pushing metals like this…


READ FULL ARTICLE HERE

The American Police State is the 'New Normal'

According to The New York Times, the FBI just raided a data center in Virginia and seized many of its servers, causing websites owned by "tens of clients" to go offline -- including those belonging to people who hadn't broken a law, and were not suspected of any crime.
It may seem silly to get upset about the police taking down websites you don't use. A certain quote may come to mind, though, as we look at other ways that the police in America abuse their power.
Tasering nonviolent people to death
A 72-year-old woman named Kathryn Winkfein got tasered not too long ago after she lost her temper at the cop who pulled her over. Her offense? Shouting at him.
Luckily, she "learned her lesson" about talking back to America's authority figures. She was also awarded $40,000 in damages, which her County Constable, Richard McCain, complained was a reward for "bad behavior." Apparently putting 50,000 volts through the heart of someone's great-grandma is not bad behavior, as long as you wear a police uniform.
Winkfein was lucky. In what Digby calls the "Taser Atrocity Of The Day," a man who took groceries without having paid for them was tasered continuously for 37 seconds, after he became "aggressive and was communicating loudly." He died in the hospital.
READ MORE HERE

Fed’s Bullard: “When it does blow up it will be too late”

In a recent interview with Bloomberg, James Bullard, president of the St. Louis Fed, offered a blunt warning on America’s disastrous financial trajectory.
Lawmakers and investors shouldn’t take comfort in low U.S. borrowing costs because markets are often “complacent” about the risk from excessive deficit spending, said James Bullard, president of the Federal Reserve Bank of St. Louis.
When it does blow up it will be too late,” Bullard said in an interview last month in New York. “When markets lose confidence in the U.S. and say that they don’t trust us any more, rates will skyrocket and the crisis will be upon you.”
He’s right, of course. Interest rates can’t stay low forever. If (when) the world does start to lose faith in America’s ability to reign in spending and cut debt, things could get crazy for a while. And quickly.
Mr. Bullard points to Greece as an example. Just a year and a half ago, the Greek 10-year yielded around 5.5%. Today that number is closer to 17%. 18 months later.
Trying to raise more debt at those levels would be ludicrous. Like trying to run a national budget on a high-interest credit card. Unsustainable, impossible. Nobody wants to buy your debt, you’ve sold quite enough already. But thanks.
READ MORE HERE

Saturday, June 25, 2011

Interested in a career with the government?

...but you aren't a sociopath? Don't worry, there are lots of other positions in government that don't require extreme psychological disorders. You can grope people and dig through their dirty underwear as a proud employee of the TSA... or you can join the police and shake down people for money whenever they break any one of the thousands of rules.

Not for you? Why not join the mainstream media. But, that's not a part of government, you say? Don't be so naive, of course it is!

No experience writing propaganda? Don't worry! You can start today with this quick and easy tutorial. As an added bonus we'll show you how to manipulate government statistics to impoverish the slaves - sorry, citizens... never call them slaves in public - all in one quick & easy lesson.

Let's begin!

First, read the first three paragraphs from this recent Dow Jones "news" article:

"Lawmakers are considering changing how the Consumer Price Index is calculated, a move that could save perhaps $220 billion and represent significant progress in the ongoing federal debt ceiling and deficit reduction talks.

According to congressional aides familiar with the discussions, the proposal would shift how the Consumer Price Index is calculated to reflect how people tend to change spending patterns when prices increase. For example, consumers tend to drive less when gas prices increase dramatically.

Such a move is widely seen by economists as resulting in a slower rise in inflation. That would impact an array of federal programs that are linked to CPI including the Social Security program and income tax brackets set by the federal government."
READ ARTICLE HERE

Elderly woman asked to remove adult diaper during TSA search

Washington and Wall Street’s Incestuous Corruption - Martin Armstrong

In a spectacular account of investigative journalism rare in this day and age, Gretchen Morgenson reveals her talent to hunt down the truth. Unlike most books that have merely sensationalized the collapse, Gretchen has exposed the much deeper corruption that lays BEHIND THE CURTAIN linking Washington and Wall Street like you have only suspected before. 
Those who try to attack every negative account of the Investment Bankers as Conspiracy Nuts have been following the advice of Cicero. When you can’t address the subject, attack the speaker. Anyone who has dared to discuss the links between the New York Investment Bankers and Washington have been cast aside as Conspiracy Theories. The question now is, HOW MANY CO-INCIDENTS DOES IT TAKE TO MAKE A CONSPIRACY? Gretchen has exposed not just the usual account of how many people from Goldman Sachs have infiltrated government around the world, but how Goldman Sachs has also provided employment for government kingpins. If you ever wondered why no New York Investment Banker is ever criminally prosecuted, this book exposes the political links that protect them. J.P. Morgan and Goldman Sachs can be civilly prosecuted and fined for the very same acts that companies like ENRON, WORLDCOM, GALLEON, ARTHUR ANDERSON, DREXEL BURNHAM, REFCO, and numerous other firms were utterly destroyed for claims of fraud all because the government has discretion as to who it will prosecute criminally and civilly, meaning there is no black and white Rule of Law.
Whenever an economic crisis develops, everyone looks for the obvious culprit to blame and it is always just about the money. Consequently, with hindsight, any near meltdown of America’s financial system can be argued to have enriched a few at the expense of the rest of the people. Who’s responsible? Congress holds its hearings but the vast majority are lawyers.
READ MORE HERE

Why is there a Media Blackout on Nuclear Incident at Fort Calhoun in Nebraska?

Since flooding began on June 6th, there has been a disturbingly low level of media attention given to the crisis at the Fort Calhoun Nuclear Facility near Omaha, Nebraska. But evidence strongly suggests that something very serious has in fact happened there.

On June 7th, there was a fire reported at Fort Calhoun. The official story is that the fire was in an electrical switchgear room at the plant. The apparently facility lost power to a pump that cools the spent fuel rod pool, allegedly for a duration of approximately 90 minutes.
FORT CALHOUN NUKE SITE: does it pose a public risk?

The following sequence of events is documented on the Omaha Public Power District’s own website, stating among other things, that here was no such imminent danger with the Fort Calhoun Station spent-fuel pool, and that due to a fire in an electrical switchgear room at FCS on the morning of June 7, the plant temporarily lost power to a pump that cools the spent-fuel pool.

In addition to the flooding that has occurred on the banks of the Missouri River at Fort Calhoun, the Cooper Nuclear Facility in Brownville, Nebraska may also be threatened by the rising flood waters.

As was declared at Fort Calhoun on June 7th, another “Notification of Unusual Event” was declared at Cooper Nuclear Station on June 20th. This notification was issued because the Missouri River’s water level reached an alarming 42.5 feet. Apparently, Cooper Station is advising that it is unable to discharge sludge into the Missouri River due to flooding, and therefore “overtopped” its sludge pond.

Not surprisingly, and completely ignored by the Mainstream Media, these two nuclear power facilities in Nebraska were designated temporary restricted NO FLY ZONES by the FAA in early June. The FAA restrictions were reportedly down to “hazards” and were ‘effectively immediately’, and ‘until further notice’. Yet, according to the NRC, there’s no cause for the public to panic.
READ MORE HERE

Friday, June 24, 2011

TSA Plans Screening Americans in their Homes

Think you could avoid the TSA's body scanners and pat-downs by not flying, taking the train or bus, then you're wrong. The TSA wants to come to your home to complete searches on U.S. citizens even if you do not use any public transport.

"This is just the next step in our special TSA pre-crime initiative where everyone will be screened before they even embark on any type of journey. We've heard bad things about you folks who are not even travelling or avoiding public places just because you don't want your groin groped or an internal body search. Well, we have news for you, we'll be knocking on your doors at home to bodysearch you there as well," TSA head, John Lacerta Pistole, told the Washington Observer.

The new TSA rules will require the whole population including new born babies and severely handicapped people to be searched in their homes.
READ MORE HERE

Gold headed to $5,000 per ounce?

After writing an article about the Platinum-to-Gold ratio, I decided to do more with the excel sheet, like calculating correlations and plotting the price charts for example.
In this article, I will just focus on the Gold price.
Here we go, the Monthly average Gold Price since January 1968:


It looks a bit bubbly, right?
If you think this looks like a bubble, then please have a look at this Log-scaled chart, which looks far from bubbly:

The thing I observed was that the price action in Gold from early 2000 until today was similar to the price action from 1968 until April 1979. Let me show you:
READ MORE HERE

Fukushima Cover Up Continues / Looming World Health Crisis

Recently President Obama ordered a complete news blackout of the flood ravaged crippled Fort Calhoun, Nebraska nuclear plant which is a symptom of the ongoing world wide cover up ‘of the biggest industrial catastrophe in the history of mankind’ ~ Fukushima: Allen L Roland

It’s an election year and President Obama is determined that no bad news or a looming nuclear crisis will undermine his re-election as president in 2012 ~ but the truth has a way of undermining the best of the worst deceptions.

For example, a shocking report prepared by Russia’s Federal Atomic Energy Agency (FAAE) on information provided to them by the International Atomic Energy Agency (IAEA) states that the Obama regime has ordered a “total and complete” news blackout relating to any information regarding the near catastrophic meltdown of the Fort Calhoun Nuclear Power Plant located in Nebraska.
READ MORE HERE

Geithner: Taxes on ‘Small Business’ Must Rise So Government Doesn’t ‘Shrink’

Treasury Secretary Timothy Geithner told the House Small Business Committee on Wednesday that the Obama administration believes taxes on small business must increase so the administration does not have to “shrink the overall size of government programs.”

The administration’s plan to raise the tax rate on small businesses is part of its plan to raise taxes on all Americans who make more than $250,000 per year—including businesses that file taxes the same way individuals and families do.
FULL ARTICLE HERE

Thursday, June 23, 2011

Jim Sinclair: Be Prepared For the Inflationary Depression of All Time

Dear Friends,

Economic statistics are taking a hard fall.

Without QE who will buy US treasury issues?
Without QE where is the basis of world equity markets?
Without QE what do you think the chart of unemployment will look like?
Without QE how do you think the camouflage of the insolvent balance sheets of the financial industry will fare?
Without QE where is mortgage money coming from?
Without QE what do you think home prices will do?
Without QE how will the present Administration and the legislative be re-elected?
Without QE how will the States of the United States of America finance themselves?

Be prepared for a reversal of the decision to curtail QE at the end of June.
Be prepared for a snap back at a greater percentage of QE with a different name.
Be prepared for covert QE between July 1st and late August when stimulation goes wild.
Be prepared for gold to take out $1650 on the upside as magnets at $12,544 come into play.
Be prepared for the Inflationary Depression of all time.

Stand firm on your gold positions.
Stand firm on your discipline of NO margin.
Stand strong in your Swiss Franc and Canadian dollar positions.

Survive the MOPE and market manipulation that is so obvious today.

Respectfully, Santa

Entire Midwest Of America Could Be WIPED OUT

Ft. Calhoun is the designated spent fuel storage facility for the entire state of Nebraska...and maybe for more than one state.*Calhoun stores its spent fuel in ground-level pools which are underwater anyway - but they are open at the top.  When the Missouri river pours in there, it's going to make Fukushima look like an x-ray. But that's not all. There are a LOT of nuclear plants on both the Missouri and Mississippi and they can all go to hell fast.
BTW, US plants hold about four times OVER capacity in their spent fuel pools PLUS all the new and recently removed fuel from Calhoun...the plant was officially being refueled.
 Be aware that Ft Calhoun isn't a BWR like Fukushima - it's a PWR. But that doesn't matter, because the fuel is all sitting OUTSIDE the reactor waiting to wash away or explode - which will destroy about 15,000 square miles of what used to be the corn belt.  That's all being washed away by the flood waters anyway.
 
 
Calhoun may already be spewing radiation into the flooding Missouri...the public will be the last to be told.  Therefore, everything the river water touches on its way downstream will or could become contaminated. 
 
This could be nothing...or, it could wipe out the middle of America.  Note the following:
READ MORE HERE

A Horrific Economic Collapse is Coming.

At the moment, the U.S. federal government is able to borrow gigantic quantities of money at super low interest rates.
When that changes, all hell is going to be unleashed.
The following are 41 statistics about the national debt that are almost too crazy to believe....
1 - As of June 20th, the U.S. national debt was $14,344,524,186,068.19.
2 - 30 years ago, the U.S. national debt was approximately 14 times smaller.
3 - It took from the presidency of George Washington to the presidency of Ronald Reagan for the U.S. government to accumulate one trillion dollars of debt.
4 - Since then, we have added more than 13 trillion dollars of additional debt.
5 - The United States government is responsible for more than a third of all the government debt in the entire world.
6 - If you divide up the national debt equally among all U.S. households, each one owes over $125,000.
7 - Mandatory federal spending is going to surpass total federal revenue for the first time ever in this fiscal year.  That was not supposed to happen until 50 years from now.
8 - Between 2007 and 2010, U.S. GDP grew by only 4.26%, but the U.S. national debt soared by 61% during that same time period.
9 - The federal government has borrowed 29,660 more dollars per household since Barack Obama signed the economic stimulus law.
10 - During Barack Obama's first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined.
11 - The U.S. national debt is currently rising by well over 4 billion dollars every single day.
READ MORE HERE

Wednesday, June 22, 2011

UN's Agenda 21

On June 9, 2011, President Obama signed his 86th Executive Order, and almost nobody noticed.
(For the record, Obama is on par to match President Bush’s 291 orders executed during his two terms in office. The National Archives defines an Executive Order this way; Executive orders are official documents, numbered consecutively, through which the President of the United States manages the operations of the Federal Government.)
President Obama’s E.O. 13575 is designed to begin taking control over almost all aspects of the lives of 16% of the American people. Why didn’t we notice it?  Weinergate.  In the middle of the Anthony Weiner scandal, as the press and most of the American people were distracted, President Obama created something called “The White House Rural Council” (WHRC).
Section One of 13575 states the following:
READ IT HERE


Surprise! TSA Is Searching Your Car, Subway, Ferry, Bus, AND Plane

The Economic Crash Explained in 2 Minutes

Stockman: Warns on U.S. “Bond Armageddon”; First Default Could Be to IMF

David Stockman, former Budget Director under Ronald Reagan, told CNBC's Nicole Lapin that the first default by the United States government could be a payment to the International Monetary Fund. Lapin reports:

He said that this careless “shoveling” of money could lead to a default here in the U.S.— and suggested that the first default will be on our payments to the IMF.

Overall, Stockman doesn't think much of the IMF or what the rescue attempts of the PIIGs are doing in Europe. Lapin again:

We’re doomed on both sides of the pond, he told me on the set of “Worldwide Exchange,” and he didn’t hold back in name-calling the “lunatics” responsible for our global fiscal mess—especially the EU and the IMF.
ARTICLE HERE.


Forget the Greek Financial Crisis, Checkout Chicago

Tuesday, June 21, 2011

If Greece Defaults, What Happens to Portugal and Ireland—and Spain?

So it lookslike Greece is about to go down the toilet.



What the Eurocrats Think of Greece
Last year, Greece got a bailout—so this year (wouldn’t you know it), they want another.

But it’s looking like France, Germany, Holland and the UK are all balking at the reality of having to save the Greek’s hide once again. Boris Johnson, the flamboyant Mayor of London, openly called for Greece to exit the euro in an op-ed in the Telegraph. Several of the participants in the negotiations are asking for Greece to make deeper austerity cuts first, before getting more bailout money—

—and of course, the Greeks won’t do that: Their population won’t stand for any more austerity measures, as they believe (correctly) that the reason Greece is in the hole it’s in is because rich people shirk their obligation to pay taxes. Also, the Greek people are getting handouts left and right from their government—paid for with deficits and debt.

So no European bailout, no money for Greece to continue funding its government.

So like I said, Greece is about to go down the toilet.
Article HERE

It's The End Of College

PIMCO's Bill Gross joins the chorus of big names who say college isn't worth it in his latest investment letter.
Gross says college was always a joke, but at least it used to get you a job:
All of us who have been there know an undergraduate education is primarily a four year vacation interrupted by periodic bouts of cramming or Google plagiarizing, but at least it used to serve a purpose. It weeded out underachievers and proved at a minimum that you could pass an SAT test. For those who made it to the good schools, it proved that your parents had enough money to either bribe administrators or hire SAT tutors to increase your score by 500 points. And a degree represented that the graduate could “party hearty” for long stretches of time and establish social networking skills that would prove invaluable later on at office cocktail parties or interactively via Facebook. College was great as long as the jobs were there.
But now the jobs are gone:



Read Much More HERE

Monday, June 20, 2011

Gerald Celente Predicts, Food Riots, Tax Rebellions

Celente says that by 2012 America will become an undeveloped nation, that there will be a revolution marked by food riots, squatter rebellions, tax revolts and job marches, and that holidays will be more about obtaining food, not gifts.
  1. America will be the first undeveloped country
  2. Revolution, food shortages, riots, marches
  3. Food instead of gifts for Christmas
Parents shouldn't send their kids to get business degrees or psychology degrees and send them to community colleges to learn a real skill. The food will become the most important thing for us. The retail industry will die off completely but local markets will thrive.

Saturday, June 18, 2011

Civil Unrest in China

A hallmark of totalitarian governments is the need to promote an image of their populace as tranquil and content under their leadership.  Such is the case with the government of China.  However the image belies the reality.
The rapid growth of the Chinese economy over the past 30 years has been driven by rapid urbanization and a never-ending supply of cheap migrant labor moving from the countryside to the cities.  According to the latest government figures, an estimated 153 million people have left their homes in the rural areas of the country and moved to the cities to work on construction sites, in restaurants and in factories just over the past 12 years.  The result has been widespread civil unrest, which has been a feature of life for years.  The unrest continues today, as numerous large and violent protests have broken out between the police and these migrant workers.
One side-effect has been the creation of a huge underclass of people that lacks access to basic social services in the cities and do not hold much of a stake in the modern society they have helped build.  These people are mostly not entitled to healthcare, education, housing support or social security benefits provided to their urban cousins.
What was once the biggest driver of Chinese growth has now become a huge potential source of social instability, especially in places such as Zengcheng, where more than a third of the 1.3 million residents are migrant laborers.
A government report, republished on Tuesday [June 14] warned that if the swelling ranks of migrant workers were not integrated properly into the cities then they could pose a serious threat to social stability.
The report forecasts that 9 million migrants will join the urban workforce each year between now and 2015 and less than 9 per cent of all migrants are likely to choose to return to the countryside.

Friday, June 17, 2011

Stay And Fight? For What?

Before leaving New York, I was enjoying a perfectly nice afternoon yesterday walking around the Upper West side. When I got to Lincoln center, roughly at the corner of Broadway and W 62nd Street, reality set in.
No fewer than ten NYPD storm troopers were ‘patrolling’ the sidewalk outside in full combat gear: Kevlar helmet, flak vest, semi-automatic 9mm sidearm, and Colt model 933 with M900 foregrip and M68 aimpoint. A few of them had M203 variety grenade launchers fitting snugly underneath the barrel.
And to what did we owe the deployment of such unnecessary firepower? An invasion of the Canadian hordes? Terrorists on the loose? No. Some visiting politician… clearly an individual who feels important enough to merit an intimidating death squad in his vicinity.
This is the nature of the system. Police are armed to the teeth… and while their official marketing slogan may be to ‘keep people safe’, their real function is to be the protectors and enforcers for the political class, all while keeping the people in check so that the know who’s boss.
On this note, we received a lot of comments this week from readers who reject the idea of considering greener pastures overseas and instead choose to “stay and fight.”
READ MORE HERE

GREECE DEFAULT WILL DESTROY US ECONOMY

A default by Greece could drive the US back into recession, according to the former Federal Reserve chairman Alan Greenspan.
Mr Greenspan told Bloomberg the chances of Greece defaulting are now "so high that you almost have to say there's no way out," which could put pressure on some US banks.

He argued Greece's debt crisis had the potential to push the US into another recession, as without it the probability of a recession "is quite low".
"There's no momentum in the system that suggests to me that we are about to go into a double-dip," he said. Mr Greenspan said the US's debt issue is becoming "horrendously dangerous" and said that he doubts lawmakers have another year or two to solve it.

Thursday, June 16, 2011

Vancouver Riots: Is It Safe There?

Last Saturday, I was caught up in Canuck fever.
In Vancouver for a travel bloggers' convention, I watched the hockey playoff game on one of many big screens set up across the city - and, along with thousands of other diehard and impromptu fans, celebrated the Canucks' win by strolling downtown amid a sea of smiles and blue jerseys.

By RYAN REMIORZ, AP
What a difference a few days - and a bitter loss to the Boston Bruins - makes.
Following last night's 4-0 defeat in Game 7 of the Stanley Cup Final, angry Vancouver spectators smashed store windows, set cars ablaze and showered those same giant TV screens with beer bottles - evoking memories of riots following Vancouver's Stanley Cup loss in 1994, and prompting Mayor Gregor Robertson to call the violence "embarrassing and shameful."
Much More HERE

Get Ready For A Major Coming Depression

Don't let the perma bulls fool you, this is not a normal correction, and it has nothing to do with Greece or Spain. This is the beginnings of the next leg down in the secular bear market and the start of the next economic recession/depression. And this time it's going to be much much worse than it was in `08.

For months now I've been warning investors to get out of the general stock market. I was confident that once the dollar put in its three year cycle low the next deflationary period would begin and stocks would enter the third leg down in the secular bear market.


Well, the dollar did put in the major three year cycle bottom in May and stocks almost immediately started to head down.This won't end until stocks drop down into the four year cycle low due sometime in mid to late 2012.


Let me explain to you what is unfolding so you don't listen to Wall Street or CNBC and get sucked down into the next bear market. 


In a healthy bull market intermediate degree corrections hold well above the prior cycle troughs. Higher highs and higher lows. When that pattern of higher highs and higher lows on an intermediate time frame gets violated it is almost always a sign that the market is topping. We are at that stage now as the market is moving down to test the March intermediate cycle low.

READ More Here


BRAND NEW SATELLITE PICTURES OF CHINESE GHOST CITIES


Wednesday, June 15, 2011

Agenda 21 and the Movement Toward a One-World Govt

In a report entitled "Your Hometown & the United Nations' Agenda 21" published in The New American's online edition for February 10,  journalist William F. Jasper warned:
The UN’s Agenda 21 is definitely comprehensive and global — breathtakingly so. Agenda 21 proposes a global regime that will monitor, oversee, and strictly regulate our planet’s oceans, lakes, streams, rivers, aquifers, sea beds, coastlands, wetlands, forests, jungles, grasslands, farmland, deserts, tundra, and mountains. It even has a whole section on regulating and “protecting” the atmosphere. It proposes plans for cities, towns, suburbs, villages, and rural areas. It envisions a global scheme for healthcare, education, nutrition, agriculture, labor, production, and consumption — in short, everything; there is nothing on, in, over, or under the Earth that doesn’t fall within the purview of some part of Agenda 21.
And things have not improved since. In case the American people do not have enough with which to concern themselves, The Blaze further draws our attention to Agenda 21, a Soros-sponsored plan for world government. Already two decades old, Agenda 21 is a United Nations plan for “sustainable development” that was backed by George H.W. Bush and 177 other world leaders. Despite its seemingly innocuous intentions, The Blaze notes that several items are at risk under the plan: private property ownership, single-family homes, private car ownership and individual travel choices, and privately-owned farms.
The American Policy Center says of Agenda 21:
READ MORE HERE.

Tuesday, June 14, 2011

Gold to Reach $5,000 Due to Supply Shortage: Report

An exhaustive report by Standard Chartered predicts that gold [GCCV1  1525.50    1.10  (+0.07%)   ] will more than triple to $5,000 an ounce because of a lack of supply, not just because of a surge in demand that most bullion bugs cite in their bullish calls.

AP


There are very few large gold mines set to commence operation in the next five years,” said Standard’s analyst Yan Chen in a report Monday. “The limited new supply comes at a time when central banks have turned from being net sellers to significant net buyers of gold. The result, in our view, will be a gold market in deficit, even assuming flat growth in demand. With the supply-demand balance so out of kilter, we see the gold price potentially going to US$5,000/oz.”
The London-based firm is among the first to focus on the supply-side of the gold equation amid the many bullish forecasts out there on the metal. After analyzing 345 gold mines and 30 copper/base metal gold mines around the globe, the team estimates annual gold production will be just 3.6 percent over the next five years.
READ MORE HERE

US Housing Crisis Is Now Worse Than Great Depression

It's official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression.



Foreclosure Sign
Getty Images



Prices have fallen some 33 percent since the market began its collapse, greater than the 31 percent fall that began in the late 1920s and culminated in the early 1930s, according to Case-Shiller data.
The news comes as the Federal Reserve considers whether the economy has regained enough strength to stand on its own and as unemployment remains at a still-elevated 9.1 percent, throwing into question whether the recovery is real.
"The sharp fall in house prices in the first quarter provided further confirmation that this housing crash has been larger and faster than the one during the Great Depression," Paul Dales, senior economist at Capital Economics in Toronto, wrote in research for clients.
More Here..




What are the Social Implications of Economic Collapse?

For the last few days, we've been having an important discussion about the magnitude of the economic challenges in the west; if you didn't read yesterday's letter, I really encourage you to do so before proceeding because it's important to understand why the west has truly passed the point of no return.

Simply put, the United States and much of Europe are borrowing an extraordinary amount of money now just to pay interest on the money they've already borrowed. They cannot even self-fund their mandatory entitlement programs without going into the hole, and their options are limited:

Option 1: Continue borrowing, keep the party going.

As long as the government CAN do this, they WILL do this. Regardless of their intentions, though, more debt only worsens the situation, creating higher borrowing costs in the long run, and even more debt. As this happens, the pool of buyers begins to dry up, especially from overseas.

Option 2: Inflation

The more buyers stop purchasing Treasury securities, the more the Federal Reserve will mop up the excess liquidity. In doing so, the Fed essentially conjures up money and loans it to the government.

No matter what the government monkey statistics say, this is inflationary, plain and simple. The more money they print, the greater the level of inflation in the long-term. Meanwhile, as foreigners simultaneously reduce their US dollar holdings, this inflation will become more acutely felt in the US.
More Here..