Hedge Farm! The Doomsday Food Price Scenario Turning Hedgies into Survivalists.
Here is a quote from the article: "When asked if this is an end of the world scenario, the hedge-fund manager replied, “It really is. I tell my fiancée this from time to time, and I’ve stopped telling her this, because it’s not the most pleasant thought."
UK And US Data Shows Stagflation Threat Deepening - Asian Gold Demand Remains Very High
Financial Repression Coming to America
Treasury to Tap Pensions to Help Fund Government
This is the ultimate cure for social security funding. Systematically, cull the geezers.
Seniors Have Lost 32 Percent of Their Buying Power Since 2000
WASHINGTON, May 19, 2011 /PRNewswire/ — Seniors have lost almost one-third of their buying power since 2000, according to the Annual Survey of Senior Costs, released today by The Senior Citizens League (TSCL). TSCL is one of the nation’s largest nonpartisan seniors advocacy groups.
In most years, seniors receive a small increase in their Social Security checks, intended to help them keep up with the costs of inflation. But since 2000, the Social Security Cost of Living Adjustment (COLA) has increased just 31 percent, while typical senior expenses have jumped 73 percent, more than twice as fast.
In 2011, for the second consecutive year, seniors received no COLA. Prior to 2010, seniors had received a COLA every year since 1975, when the automatic COLA was introduced. Seniors are forecast to receive a very small COLA next year.
The following table shows how various types of expenses have changed since 2000. (Dollar cost changes are included if that data is available; otherwise, only the percent of change is stated.)
More…
Jim Sinclair’s Commentary
Whoever wanted this guy out of the running had an easy go at it. Ricker’s Island? Holy s**t!
Dispatch: Europe Likely to Prevail for IMF Chief May 19, 2011 | 2119 GMT
IMF Managing Director Dominique Strauss-Kahn resigned on Wednesday night. This means that the race to replace him has now begun in earnest.
Strauss-Kahn’s resignation has renewed the debate of whether the gentlemen’s agreement between the United States and Europe on dividing up the World Bank and IMF, respectively, should stay. This was a Cold War-era agreement between what were essentially the only two economic powerhouses in the world: Europe and the United States. As emerging economies such as Brazil, India, Russia and China have gained economic clout, they have become more vociferous in questioning this agreement.
The race for the new managing director is therefore not really important in terms of the position itself. It is important to understand that managing director does not make decisions by fiat. He is bound by the decisions of the 24-member executive board and therefore decisions on whether to bail out a lot of peripheral eurozone states will ultimately be a political one made by IMF member states.
Nonetheless, the real importance of this race really comes down to the contestation between emerging markets in developing countries and the established democracies for control of a very important international institution. The race therefore symbolizes a competition between the two blocs of countries that really has run the gamut on a number of issues, from whether or not the Chinese currency needs to appreciate more to trade to global financial regulation. The emerging markets and developing economies have therefore proposed a number of candidates from their own bloc. However, the reality here is that the emerging countries are in no way united in this. Not only to have divergent economic interests but they also have geopolitical differences. China would not want to see a South Korean or an Indian at the head of the IMF just as India or South Korea would not want to see a Chinese.
More…
Jim Sinclair’s Commentary
Oh how things change. We called this four years ago.
Pakistani PM hails China as his country’s ‘best friend’ 17 May 2011 Last updated at 09:08 ET
Pakistani Prime Minister Yousuf Raza Gilani has arrived in China on a four-day visit to commemorate 60 years of diplomatic ties between the countries.
Earlier, he described China as Pakistan’s "best friend".
Although the visit was planned long ago, correspondents say it is especially timely for Islamabad because of strains with the US over the killing of Osama Bin Laden.
China is one of Pakistan’s staunchest allies and trading partners.
"We appreciate that in all difficult circumstances, China stood with Pakistan. Therefore we call China a true friend and a time-tested and all-weather friend," Mr Gilani told China’s official Xinhua news agency.
"We are proud to have China as our best and most trusted friend, and China will always find Pakistan standing beside it at all times," he said in an interview released on Tuesday.
The BBC’s Jill McGivering says this latest display of warmth seems designed to reflect Pakistan’s appreciation for China’s uncompromising support in recent days.
Any divisions between Pakistan and the United States could be an opportunity for China – Pakistan is desperate for foreign investment, especially in infrastructure, one of China’s specialities, our correspondent adds.
More…
Jim Sinclair’s Commentary
Volcker won it all for the West and Greenspan gave it all away to China.
Ben is the bag man.
China PBOC: New IMF Leadership Should Reflect New World Order Thursday, May 19, 2011 – 07:54
BEIJING (MNI) – The new IMF leadership needs to reflect changes in the world economic order and be more representative of emerging market economies, Chinese central bank governor Zhou Xiaochuan said Thursday in his first public comments since the arrest of Dominique Strauss-Kahn.
"The senior management team of the IMF should better reflect changes in world economic patterns and should be more representative of emerging market economies," he said.
Zhou also said he regretted Strauss-Kahn’s decision to resign as the Managing Director of IMF.
"The current world economy is recovering slowly from the financial crisis and the European sovereign debt crisis is at a key stage. A powerful IMF support is needed to overcome current difficulties facing Europe and ensure world economic developments are on a robust, sustainable and balanced track," Zhou added.
German Chancellor Angela Merkel reiterated earlier today that the next head of the International Monetary Fund should be a European again.
More…
Here is a quote from the article: "When asked if this is an end of the world scenario, the hedge-fund manager replied, “It really is. I tell my fiancée this from time to time, and I’ve stopped telling her this, because it’s not the most pleasant thought."
UK And US Data Shows Stagflation Threat Deepening - Asian Gold Demand Remains Very High
Financial Repression Coming to America
Treasury to Tap Pensions to Help Fund Government
Silver crash not a correction but a 'drive-by shooting'
Stacy Herbert: Show me the silver bubble
An interview with Hugo Salinas Price on returning to a silver Mexican peso
Jim Sinclair’s Commentary
This is the ultimate cure for social security funding. Systematically, cull the geezers.
Seniors Have Lost 32 Percent of Their Buying Power Since 2000
WASHINGTON, May 19, 2011 /PRNewswire/ — Seniors have lost almost one-third of their buying power since 2000, according to the Annual Survey of Senior Costs, released today by The Senior Citizens League (TSCL). TSCL is one of the nation’s largest nonpartisan seniors advocacy groups.
In most years, seniors receive a small increase in their Social Security checks, intended to help them keep up with the costs of inflation. But since 2000, the Social Security Cost of Living Adjustment (COLA) has increased just 31 percent, while typical senior expenses have jumped 73 percent, more than twice as fast.
In 2011, for the second consecutive year, seniors received no COLA. Prior to 2010, seniors had received a COLA every year since 1975, when the automatic COLA was introduced. Seniors are forecast to receive a very small COLA next year.
The following table shows how various types of expenses have changed since 2000. (Dollar cost changes are included if that data is available; otherwise, only the percent of change is stated.)
More…
Jim Sinclair’s Commentary
Whoever wanted this guy out of the running had an easy go at it. Ricker’s Island? Holy s**t!
Dispatch: Europe Likely to Prevail for IMF Chief May 19, 2011 | 2119 GMT
IMF Managing Director Dominique Strauss-Kahn resigned on Wednesday night. This means that the race to replace him has now begun in earnest.
Strauss-Kahn’s resignation has renewed the debate of whether the gentlemen’s agreement between the United States and Europe on dividing up the World Bank and IMF, respectively, should stay. This was a Cold War-era agreement between what were essentially the only two economic powerhouses in the world: Europe and the United States. As emerging economies such as Brazil, India, Russia and China have gained economic clout, they have become more vociferous in questioning this agreement.
The race for the new managing director is therefore not really important in terms of the position itself. It is important to understand that managing director does not make decisions by fiat. He is bound by the decisions of the 24-member executive board and therefore decisions on whether to bail out a lot of peripheral eurozone states will ultimately be a political one made by IMF member states.
Nonetheless, the real importance of this race really comes down to the contestation between emerging markets in developing countries and the established democracies for control of a very important international institution. The race therefore symbolizes a competition between the two blocs of countries that really has run the gamut on a number of issues, from whether or not the Chinese currency needs to appreciate more to trade to global financial regulation. The emerging markets and developing economies have therefore proposed a number of candidates from their own bloc. However, the reality here is that the emerging countries are in no way united in this. Not only to have divergent economic interests but they also have geopolitical differences. China would not want to see a South Korean or an Indian at the head of the IMF just as India or South Korea would not want to see a Chinese.
More…
Jim Sinclair’s Commentary
Oh how things change. We called this four years ago.
Pakistani PM hails China as his country’s ‘best friend’ 17 May 2011 Last updated at 09:08 ET
Pakistani Prime Minister Yousuf Raza Gilani has arrived in China on a four-day visit to commemorate 60 years of diplomatic ties between the countries.
Earlier, he described China as Pakistan’s "best friend".
Although the visit was planned long ago, correspondents say it is especially timely for Islamabad because of strains with the US over the killing of Osama Bin Laden.
China is one of Pakistan’s staunchest allies and trading partners.
"We appreciate that in all difficult circumstances, China stood with Pakistan. Therefore we call China a true friend and a time-tested and all-weather friend," Mr Gilani told China’s official Xinhua news agency.
"We are proud to have China as our best and most trusted friend, and China will always find Pakistan standing beside it at all times," he said in an interview released on Tuesday.
The BBC’s Jill McGivering says this latest display of warmth seems designed to reflect Pakistan’s appreciation for China’s uncompromising support in recent days.
Any divisions between Pakistan and the United States could be an opportunity for China – Pakistan is desperate for foreign investment, especially in infrastructure, one of China’s specialities, our correspondent adds.
More…
Jim Sinclair’s Commentary
Volcker won it all for the West and Greenspan gave it all away to China.
Ben is the bag man.
China PBOC: New IMF Leadership Should Reflect New World Order Thursday, May 19, 2011 – 07:54
BEIJING (MNI) – The new IMF leadership needs to reflect changes in the world economic order and be more representative of emerging market economies, Chinese central bank governor Zhou Xiaochuan said Thursday in his first public comments since the arrest of Dominique Strauss-Kahn.
"The senior management team of the IMF should better reflect changes in world economic patterns and should be more representative of emerging market economies," he said.
Zhou also said he regretted Strauss-Kahn’s decision to resign as the Managing Director of IMF.
"The current world economy is recovering slowly from the financial crisis and the European sovereign debt crisis is at a key stage. A powerful IMF support is needed to overcome current difficulties facing Europe and ensure world economic developments are on a robust, sustainable and balanced track," Zhou added.
German Chancellor Angela Merkel reiterated earlier today that the next head of the International Monetary Fund should be a European again.
More…
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