Monday, March 19, 2012

How Quickly Can Price Inflation Explode to the Upside?

by Robert Wenzel, LewRockwell.com:
The answer: Very quickly.
Amity Shlaes is a senior fellow in economic history at the Council on Foreign Relations. Her writings are followed carefully by the top of the top at CFR. And to a significant degree she uses Hayekian business cycle theory in analyzing the economy. She also has the distinct honor of being hated and attacked by the Keynesian Paul Krugman.
In other words, take her very seriously.
Yesterday, I wrote on how confused Bernanke was by stating that price inflation was of little concern. Here’s Shlaes putting things in historical perspective:
Read More @ LewRockwell.com




Meredith Whitney: ‘Tidal Wave’ of Muni-Bond Defaults Still Coming

by Forrest Jones, MoneyNews.com:
A “tidal wave” of defaults in the municipal bond market is still building and will eventually hit the United States, says Wall Street analyst Meredith Whitney.
Many U.S. cities, towns and municipalities are insolvent but are treading along similar to how Greece did for years before officially defaulting.
In late 2010, Whitney told 60 Minutes that municipal defaults could run up into the hundreds of billions of dollars although that hasn’t happened. Maybe not officially, but insolvency is a deepening problem, and defaults are still on the way.
Read More @ MoneyNews.com




The U.S. Economy: Soul Crushing Total System Failure

from The Economic Collapse Blog:

No matter how often the pretty people on television tell us that the U.S. economy is getting better, it isn’t going to change the soul crushing agony that millions of American families are going through right now.  The stock market may have gotten back to where it was in 2008, but the job market sure hasn’t.  As I wrote about a few days ago, the percentage of working age Americans that are actually employed has stayed very flat since late 2009, and the average duration of unemployment is hovering near an all-time high.  Sadly, this is not just a temporary downturn.  The U.S. economy has been slowly declining for several decades and is nearing total system failure.  Right now, many poverty statistics are higher than they have ever been since the Great Depression.  Many measurements of government dependence are the highest that we have ever seen in all of U.S. history.  The emerging one world economic system (otherwise known as “free trade”) has cost the U.S. economy tens of thousands of businesses, millions of jobs and hundreds of billions of dollars of our national wealth.  The federal government is going into unprecedented amounts of debt in order to try to maintain our current standard of living, but there is no way that they will be able to sustain this kind of borrowing for too much longer.  So enjoy this bubble of false prosperity while you can, because things will soon get significantly worse.
Read More @ TheEconomicCollapseBlog.com




The Obama Administration: All Your Privacy And All Your Stuff Belong To Us

from End of The American Dream:
Did you know that the federal government claims that it can take away your constitutional rights any time that it wants to? Over the past several decades, there have been an endless parade of laws and executive orders that have been slowly and methodically carving up our rights under the U.S. Constitution. Most Americans are not even aware of the “creeping totalitarianism” that is happening. Most Americans just trust the “authorities” when they tell us that certain things “must be done” in order to keep us all safe. But even if we gave up all of our privacy, even if we gave up all of our liberties and our freedoms, and even if we gave the government all of our stuff they still would not be able to keep us safe. It is inevitable that evil people are going to do evil things, and if you are counting on the Obama administration to keep you safe then you are being delusional. Obama is not going to save us from anything. But Obama will gladly take away our rights and our freedoms if the American people allow him to. The Obama administration seems to have an endless lust for more power. Sadly, if we do give away our rights it will have some very serious consequences. If we freely give away all of the rights that we have been given under the U.S. Constitution it will be incredibly difficult to ever get them back. Giving up liberty for security never works, and if we want to be worthy of being called Americans then we need to start standing up for the republic that our forefathers worked so hard to build.
Read More @ EndOfTheAmericanDream.com





Executive Doomsday Order: Obama Authorizes Gov to Seize Farms, Food, Processing Plants, Energy Resources, Transportation, Skilled Laborers During National Emergency

[Ed. Note: Related, and Related.]
by Mac Slavo, SHTFPlan.com:

“In a nutshell, it’s the blueprint for Peacetime Martial Law and it gives the president the power to take just about anything deemed necessary for “National Defense”, whatever they decide that is.” (The Intel Hub)
While millions of people have been preparing for the possibility of a catastrophic event by relocating to rural homesteads or farms, as well as stockpiling food, water, personal defense armaments and other essential supplies with the intention of utilizing these preparations if the worst happens, the latest executive order signed by President Obama on March 16, 2012 makes clear that in the event of a nationally deemed emergency all of these resources will fall under the authority of the United States government. 
The signing of the National Defense Resources Preparedness executive order grants the Department of Homeland Security, the Department of Agriculture, the Department of Labor, the Department of Defense and other agencies complete control of all US resources, including the ability to seize, confiscate or re-delegate resources, materials, services, and facilities as deemed necessary or appropriate to promote the national defense as delegated by the following agencies:
Read More @ SHTFPlan.com




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"This Time It's Different?" - David Rosenberg Explains The Melt Up And The Latent Risks

The market is ripping. That much is obvious. What some may have forgotten however, is that it ripped in the beginning of 2011... and in the beginning of 2010: in other words, what we are getting is not just deja vu (all on the back of massive central bank intervention time after time), but double deja vu. The end results, however, by year end in both those cases was less than spectacular. In fact, in an attempt to convince readers that this time it is different, Reuters came out yesterday with an article titled, you guessed it, "This Time It's Different" which contains the following verbiage: "bursts of optimism have sown false hope before... Today there is a cautious hope that perhaps this time it's different." So the trillions in excess electronic liquidity provided by everyone but the Fed (constrained in an election year) is different than the liquidity provided by the Fed? Got it. Of course, there are those who will bite, and buy the propaganda, and stocks. For everyone else, here is a rundown from David Rosenberg explaining why stocks continue to move near-vertically higher, and what the latent risks continue to be.
 





Still think your vote counts?

Police Used To Keep Ron Paul Supporters From Documenting Voter Fraud In Missouri

from MOXNEWSd0tCOM:
Establishment GOP leaders in St. Charles County, Missouri, shut down a caucus and had Ron Paul supporters arrested in order to avoid enthusiastic Ron Paul supporters from taking over the caucus March 17.

 

The Line To Use Howard's Bomb Shelter Is Long Despite QE1, QE2, QE3...QE(n)

Eric De Groot at Eric De Groot - 1 hour ago
The break of the 2011 power up trend in the gold to silver ratio (GSR) suggests liquidity on and supports Gross's market outlook. Despite this bullish setup for precious metals the line to use Howard's bomb shelter stretches around the corner within the gold community. Chart: Gold to Silver Ratio (GSR), Monthly Average Price Headline: PIMCO’s Bill Gross: QE3, Inflation, Muted Growth on the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] more »

Central Banks: These Actions Will Have Consequences

Admin at Marc Faber Blog - 4 hours ago
First of all, I do not believe that the central banks around the world will ever, and I repeat ever, reduce their balance sheets. They’ve gone the path of money printing and once you choose that path you’re in it, and you have to print more money. In the short term, it has been working to some extent in the sense that equity prices are up and interest rates are down. And, so companies can issue bonds at extremely low rates. But every money printing exercise in the world leads to unintended consequences at a later point. And, this is the important issue to remember. We don’t know yet... more »

 

Video: A Recent Radio Interview

Admin at Jim Rogers Blog - 4 hours ago
A recent radio interview with Everything Financial. *Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.* more »

 

More than 20,000 California teachers pink-slipped

Eric De Groot at Eric De Groot - 5 hours ago

Pink slips in the public sector are not restricted to California. This is happening all across the country and is reinforcing a vicious downward cycle that the private sector cannot absorb. Headline: More than 20,000 California teachers pink-slipped More than 20,000 public school teachers in California opened their mailboxes over the last few days to find a pink slip inside as districts met... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Obama Executive Order Paves the Way for Nationalization of Economy

Government greases the skids for America’s Greece-style meltdown
by Paul Joseph Watson & Alex Jones, InfoWars.com:
The Obama administration’s move to update an executive order to allow the government to seize control of virtually every aspect of society in both emergency and non-emergency situations lays the groundwork for the future nationalization of the U.S. economy.
Entitled “National Defense Resources Preparedness,” Obama signed the executive order late Friday afternoon. Such timing is normally a deliberate ploy to prevent a controversial issue from being picked up by the news cycle. Recall that Obama signed the highly contentious National Defense Authorization Act on New Year’s Eve.
Under section 201, the EO allows the federal government to take control of;
Read More @ InfoWars.com




Silver Set To Shine After Escaping India’s Budget Clutches

While gold’s southward journey continued for the third straight day in Mumbai Monday, investors showed a keen interest in buying one kilo silver bars also known as `chausar’ given the excise duty exemption.
by Shivom Seth, MineWeb.com:
MUMBAI (MINEWEB) – Silver, the poor man’s gold, has turned out to be the winner in India’s budgetary excise duty cuts by escaping the attention of the Finance Minister. Investors in India are keen to push silver above the recent channel high with traders insisting that it will be more than speculation that will drive demand for the white metal.
“Silver has clearly been exempted for a reason,” said Prithviraj Kothari, president of the Bombay Bullion Association. “Out of $50 billion worth of imports of precious metals into India, silver imports were just $4 billion, while that for gold was the other $46 billion,” he said.
On Friday, India’s Finance Minister exempted branded silver jewellery from excise duty. Silver coins of purity 99.9% and above were also exempted from excise duty. However, the excise duty on refined gold was doubled from 1.5% to 3%.
Read More @ MineWeb.com




An Open Letter to All Presidential Candidates

by Graham Summers, GainsPainsCapital.com:
Dear Presidential Candidates: Democrats, Republicans, Independents, etc.
Watching your debates and speeches of late, it is clear that you are all (with possibly the exception of Ron Paul) missing the point and only continuing to widen the gap between the US Government and the American people.
In some regards, this is not entirely your fault. You all are doubtless surrounded by strategists and experts who ascribe to the dominant economic theories of the last 80 years; namely that Government and monetary intervention can “fix” any economic problems this country faces. Mr. President I know for a fact that your inner circle of advisors is comprised of individuals who owe their current jobs and fortunes to bailouts (Mr. Immelt and Mr. Buffett to name two).
Read More @ GainsPainsCapital.com




Is a Stock Market Crash in 2012 Imminent?





Trust Me, This is Good News

by Simon Black, Sovereign Man:
Here’s the scene. It was an overcast day in southern England last March. That is to say, a normal day in southern England.
Attempting to retrieve something that had blown into the water, 41-year old Simon Burgess slipped and fell into a 3 1/2 foot-deep pond. He then suffered a seizure. His body, lying motionless and face down in the water, was spotted at 12:15pm by a witness who immediately called 999 emergency services (like 911).
Within five minutes, emergency crews began arriving. Then more. Then more. 36-minutes after the initial phone call, no fewer than 25 emergency workers were at the scene. They brought out a state of the art emergency medical tent, resuscitation equipment, several fire engines, ambulances, and specialty dive gear.
Read More @ SovereignMan.com




Gold and Silver Looking To Bottom Soon

The Turd is back in the saddle and ready for another crazy week.
Whew, did I ever have fun in Friday! Got home Saturday in no shape to post a single thing then decided to simply take the day off yesterday. Let’s see…what has happened in my absence?
1) We have to start with the exclusion of Iran from the SWIFT system that began on Saturday. Megalomaniacal leaders full of brim and bluster like to spout “this is an act of war” all of the time (think Kim Jong-Il). This exclusion from SWIFT truly is. If there was going to be an “economic sanction” that was going to work, this would be it. Unfortunately, this isn’t going to work and it will only serve to speed-up-the-lead-up to war. http://rt.com/news/irans-shift-reaction-gulf-893/
Read More @ TFMetalsReport.com




Hush-Hush Congressional Research Report: The Myth of Social Mobility … Not

from The Daily Bell:
Income inequality in the United States is more pronounced than in other developed countries, a new report from the Congressional Research Service finds, while the possibility of economic mobility is more constrained than commonly believed. “Based on the limited data that are comparable across nations, the U.S. income distribution appears to be among the most uneven of all major industrialized countries and the United States appears to be among the nations experiencing the greatest increases in measures of inequality.” – FAS Secrecy News Blog

Dominant Social Theme: In America, anyone can get rich.

Free-Market Analysis: Here’s a big myth: US social mobility is fungible and anyone can grow rich. Now a report from the Congressional Research Service has found that income inequality in the US is extreme and growing worse. Also, that where you’re born, socially speaking, is where you stay.
Read More @ TheDailyBell.com




Washington Preparing for More War

by Stephen Lendman:
Already embroiled in Afghanistan, Iraq, Libya, and numerous proxy wars in Pakistan, Syria, Somalia, Yemen, Sudan, central Africa, and elsewhere, evidence suggests Obama’s preparing for more.
Washington-generated Syrian violence rages out of control. Efforts for nonviolent resolution are systematically subverted. Saturday’s Damascus terrorist attacks and a Sunday Aleppo one reveal America’s true intentions.
At least 27 Damascus lives were lost. Around 140 others were wounded, many seriously. Two deaths and about 30 injuries occurred in Aleppo, Syria’s commercial hub and largest city.
Read More @ SJLendman.Blogspot.com




Giving Voice to the Silent Majority






Ron Paul’s Delegate Strategy May Be Working

by Fred Reed, LewRockwell.com:
There is an interesting analysis article over at Real Clear Politics that lays out a scenario whereby the August Republican National Convention evolves into the worst nightmare imaginable for party officials – a brokered convention. Based on how Republican candidates for president have done so far with different demographics and regions of the country, Sean Trende predicts how the race for the Republican nomination may play out and lays out a scenario where a brokered Republican convention could take place.
Now, it’s no secret that a brokered convention would be a catastrophe for Republican Party leaders use to grand coronations at their quadrennial national party events. After all, anything could happen. Chaos could rule or a dark horse candidate not officially sanctioned by the party oligarchs could emerge. In either case their lack of control would disrupt the usual smooth proceedings meant to portray to the nation a party united, happy, and excited about its standard bearer.
Read More @ LewRockwell.com




Triple Lutz Report – Turnkey Totalitarianism is Coming to America – Episode 172

from The Financial Survival Network:
Freedom to pursue your own happiness was guaranteed in the US Constitution. It was a novel ground-breaking earth-shattering ideal that has left statists scrambling ever since. The way they take away your freedoms is one at a time. First they go after freedoms that most people deem unnecessary or repugnant, like using drugs or advertising tabacco. Then they go after the freedoms that matter to you, like speech, the right to defend yourself, buying light bulbs or so many others that are currently under attack. Marijuana prohibitions are supported by law enforcement lobbyists who cash in big time. Just follow the money and you’ll see. How much of our law enforcement infrastructure would be turned into surplusage, if the number of prohibitions was dramatically cut back?
And now words comes out that the largest NSA domestic spying center in history is being constructed in a remote part of Utah. As William Binney, former head NSA mathametician and whistleblower said, “We ‘this’ close to turnkey totalitarianism.” Think about that the next time your child asks you about what freedom was like when you were a kid.
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Click Here to Listen to the Podcast



And Whether Pigs Have Wings (part deux)

by Johnny Silver Bear, SilverBearCafe.com:

“The time has come,” the Walrus said,
“To talk of many things:
Of shoes – and ships – and sealing-wax -
Of cabbages – and kings -
And why the sea is boiling hot -
And whether pigs have wings.”
The Walrus and The Carpenter – Lewis Carroll (from Through the Looking-Glass and What Alice Found There, 1872)
Part 2: “Those Who Would be Kings”
In Part 1, Something Wicked This Way Comes, we discussed the “Dumbing Down of America” and I tried to provide examples of the effectiveness of the campaign. Most do not realize that they fall directly in the cross hairs “of those who would be kings”. As I pointed out in a previous essay, Paradise Lost:
“We are not being shepherded by altruistic wise men, but, rather, herded by megalomaniacal desperadoes.”
It would be one thing if we had any leadership (which we don’t). If we had leaders that actually served their constituencies, and did what they could to insure our safety and well being, and the safety and well being of our children and their children… but we don’t. Rather than looking out for our best interests, they are looking out for what they perceive to be their own best interests. They have been corrupted. Corrupted absolutely. Once corrupted, one cannot become uncorrupted. It is too late to save them. They all need to be put down.
Read More @ SilverBearCafe.com




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