by Steve Watson, Info Wars:
“It sounds like the revolution is alive and well” Ron Paul said last
night as he strode out into a stadium brimming with around SEVEN THOUSAND people.Reports stated that participants had waited in line as long as nine hours to get a seat to hear the Congressman speak for over 45 minutes at the UCLA Straus Stadium. Once the stadium was full beyond capacity, hundreds of people still waited outside and had to be turned away by marshals concerned about overcrowding.
The huge crowd represented the largest attendance for any of the GOP
candidates during this campaign and broke Paul’s own attendance record,
which was remarkably set the previous night!A stunning 6,200+ packed into the grounds of California State University, Chico’s Bell Memorial Student Union Tuesday. Of course, the mainstream media was no where to be seen as usual. Paul noted that only a handful of reports emerged with one describing “hundreds” in attendance.
The huge crowd represented the largest attendance for any of the GOP candidates during this campaign and broke Paul’s own attendance record, which was remarkably set the previous night!
Read More @ InfoWars.com
Why the ECB Expanded Its Balance Sheet By Over $1 trillion in Less Than Nine Months
04/05/2012 - 12:47
Blythe Masters On The Blogosphere, Silver Manipulation, Gold-Axed Clients And Doing The "Wrong" Thing
For
all those who have long been curious what the precious metals "queen"
thinks about allegations involving her and her fimr in gold and silver
manipulation, how JPMorgan is positioned in the precious metals market,
and how she views the fringe elements of media, as well as JPMorgan's
ethical limitations to engaging in 'wrong' behavior, the answers are all
here.Swiss National Bank intervenes to undercut Franc Strength
Trader Dan at Trader Dan's Market Views - 2 hours ago
While the Swiss Franc is lower today against the Dollar (as is the case
with all of the European majors), it has been gaining against the Euro as
nervous investors in Europe weigh further escalation in the region's
ongoing sovereign debt crisis.
Note the following ratio chart or the cross I have created to give you an
idea of what has been happening with that particular cross. The Swiss Franc
has been the beneficiary of investor preference going back to the beginning
of the Fed's stimulus party in late 2008.
European sovereign debt fears then further contributed to increasing ga... more »
Food Inflation back in the News
Trader Dan at Trader Dan's Market Views - 3 hours ago
Reuters is carrying an article discussing the rising cost of food ( By the
way, the US monetary authorities all tell us that is not true as their
parrots have trained them to repeat the words. "there is no inflation;
inflation is subdued") in an article that I have linked to.
Eric King and I have been discussing this on our recent KWN Weekly Metals
Wrap interviews but it seems to have gone unnoticed by many in the
financial press until now.
While the Continuous Commodity Index ( CCI ) has been moving lower again,
this is more a function of the outflow of hedge fund money from the se... more »
Unfulfilled Dreams: A Tension At the Heart of the Universe
Bank Downgrade Forward Calendar
A major potential negative catalyst for financials globally is rapidly approaching as 114 banks are on review-for-downgrade by Moody's across 16 countries. Why do we care so much about ratings given their historical credibility? Ask James 'Jimmy-boy' Gorman of Morgan Stanley who is currently begging cap-in-hand to Moodys not to downgrade his empire bank, since he knows (and so it seems does the CDS market) that, as the FT notes, a downgrade
could also force the bank to provide additional collateral to back its
vast derivatives business - where it acts as one of the largest
counterparties. In Europe, the fun heats up in the next few
weeks as first Italian banks (4/16), then Spanish banks (4/23) and then
Austrian (4/30) face from 1 to 4 notch downgrades and the potential to
lose their short-term (funding-/CP-related) Prime-1 top rating,
implicitly raising funding costs (and liquidity concerns) even further.The Eurozone X-Factor
Whatever
one thinks about Lord Wolfson’s euro-skeptical meddling, it certainly
has been entertaining. The British baron’s offer of a £250,000 prize
for the best ideas to deal with a possible breakup of the eurozone has
brought all sorts of people out of the woodwork. (Including this
precocious 11-year old.) But one of the most fascinating ideas on the shortlist has come from Neil Record
— although I’m not sure that my takeaway was his main intent. Suppose
that a country does leave the eurozone — this was the starting premise
of all the responses to Wolfson’s essay contest. Greece, as the weakest
link, seems the most likely candidate. But on the other hand it’s
possible that one of the strongest countries chooses to go its
own way. Of course we’re talking about Germany. Whether it remains in
the euro or decides to take its chances by introducing a new
Deutschemark, the fact is that in the case of a euro breakup, Germany is
where it’s at. Its fiscal position and reputation for prudence is
among the strongest of all developed countries. If it were on its own
then its currency would rise to reflect this. So, to the extent that
you can choose, you will want to get your banknotes from BerlinSpot The Odd One Out
Presenting European and US equity and credit markets' performance from the Thanksgiving Day lows. Can you spot the odd market out?Brian Sack Is Out
The New York Fed's Brian Sack, better known by everyone as the head of the Plunge Protection Team, is gone.
Today's Ebay Special - The Country Of Greece
In what could be one of the better deals encountered on Ebay, one can submit a winning bid for none other than the country of Greece,
currently going for the modest price of $1,550 (although with 6 more
days left in the auction, there is a small chance Goldman will outbid
and use it as LTRO 3 collateral). Of course, since the country is worth much less than the debt (all 7 subordinated classes of it)
any new equity buyer would assume, this is a trick auction: our advice -
settle for nothing less than getting paid as much as possible for
"buying" the country.On The Pain In Spain
Much
has been made, and rightly so, of the echoing crisis that is evolving
in Spanish bank and sovereign credit (and equity) markets in the last
few weeks. The impact of the LTRO on the optics of Spain's problems hid the fact that things remain rather ugly
under the surface still and with the fading of that cashflow and
reach-around demand from the Spanish banking system, the smaller base of
sovereign bond investors has shied away. Stephane Deo, of UBS, notes
that while the Spanish budget is a positive step (with its labor market
reforms), Spain's economy remains weak and will face a severe recession this year
followed by still significant contraction next year. However, he fears
the measures announced may not be enough to calm investor angst as he doubts the size of fiscal receipts numbers and the ability to half the deficits of local authorities.
Furthermore, the measures will have a large impact on corporate
earnings - implicitly exaggerating the dismal unemployment numbers
(which is increasingly polarizing young against old) with expectations
that the aggregate unemployment rate could well top 26% and youth well over 50%. This will only drag further on the housing market, which while it has suffered notably already, is expected to drop another 25% before bottoming
and credit is contracting rapidly (compared to a modest rise overall in
Europe). Spanish banks remain opaque in general from the perspective
of the size and quality of collateral and provisioning and Deo believes
they are still deep in the midst of the provisioning cycle and tough
macro conditions will force restructuring and deleveraging. Spain
scores 5 out of 5 on our crisis-prone indicator and markets, absent
intervention, are starting to reflect that aggressively.
by Judge Andrew Napolitano, Lew Rockwell:
What does freedom have to do with rising from the dead?
When America was in its infancy and struggling to find a culture and frustrated at governance from Great Britain, the word most frequently uttered in speeches and pamphlets and letters was not safety or taxes or peace; it was freedom.
Two acts of Parliament broke the bonds with the mother country irreparably. The first was the Stamp Act, which was enforced by British soldiers writing their own search warrants and rummaging through the personal possessions of colonists looking to see whether they had purchased the government’s stamps. The second was the imposition of a tax to pay for the Church of England, which the colonists were forced to pay, no matter their religious beliefs.
The Stamp Act assaulted the right to be left alone in the home, and the tax for the Church of England assaulted the freedom to choose to support one’s own means of worship. The two taxes together caused many colonists to realize they needed to secede from England and form their own country in which freedom would be protected by the government, not assaulted by it.
Read More @ Lew Rockwell.com
What does freedom have to do with rising from the dead?When America was in its infancy and struggling to find a culture and frustrated at governance from Great Britain, the word most frequently uttered in speeches and pamphlets and letters was not safety or taxes or peace; it was freedom.
Two acts of Parliament broke the bonds with the mother country irreparably. The first was the Stamp Act, which was enforced by British soldiers writing their own search warrants and rummaging through the personal possessions of colonists looking to see whether they had purchased the government’s stamps. The second was the imposition of a tax to pay for the Church of England, which the colonists were forced to pay, no matter their religious beliefs.
The Stamp Act assaulted the right to be left alone in the home, and the tax for the Church of England assaulted the freedom to choose to support one’s own means of worship. The two taxes together caused many colonists to realize they needed to secede from England and form their own country in which freedom would be protected by the government, not assaulted by it.
Read More @ Lew Rockwell.com
Hyper Report: Need Food and Ammo
Today’s Items:
According to Roubini Global Economics,
Portugal, Italy, Ireland, Greece and Spain need to leave the European
union. The current situation is not sustainable. They feel that these
countries need further and much more extensive reconstructing to get
their finances in order. In addition, bank nationalization would be
necessary with restrictions on deposit withdrawals and temporary capital
controls. In short, if you have money in the bank, in a matter of time,
you may not have money. Another reason to keep stacking folks
Bill Fleckenstein, President of
Fleckenstein Capital, believes that we are going to see more money
printing out of the central banks. The stock market is, for the moment,
the vehicle of choice for money printing to flow into. Basically the Fed
is trapped. They have spoon fed the markets and the economy to expect
more confetti, and they will continue to do it until inflation takes the
printing press away. The bond market has quite likely topped out.
World food prices are likely to rise for a
third successive month in March. Food prices grabbed world policy
makers’ attention after hitting record highs in February 2011. Corn and
soybeans are set to be the major drivers on world grain markets until
new crops are harvested – if crop yields are good. How is your food
storage solution for volatile food prices?
Next…
Just In Time: When the Trucks Stop, America Will Stop with Catastrophic Consequences
http://www.truthistreason.net
Just In Time: When the Trucks Stop, America Will Stop with Catastrophic Consequences
http://www.truthistreason.net
It may not take an EMP to stop the
Just-In-Time system that we have for supplying stores with food and
other supplies. If gas keeps going up, truckers will not be able to
deliver supplies and there are about three days of supplies in local
stores before everything goes to hell. Consumer fear and panic will
exacerbate shortages; therefore, make sure you are stocked up. In short,
panic now and avoid the rush.
Next…
It looks like DHS isn’t the only ammunition hog in the United States
http://www.activistpost.com
It looks like DHS isn’t the only ammunition hog in the United States
http://www.activistpost.com
While the Department of Homeland
Insecurity has contracted for 450 million hollow point rounds, the
Department of Agriculture, the Department of Interior, the FBI, and
other agencies have ordered additional ammo. We can now move the total
“excess” .40 caliber rounds from 450 to 750 million rounds. Probably
need it all to fight those evil-doing farmers with raw milk.
Next…
North American Union will Attempt to Disarm the People of the United States
http://fromthetrenchesworldreport.com
North American Union will Attempt to Disarm the People of the United States
http://fromthetrenchesworldreport.com
Mexican President Calderon proudly stated
that 140,000 firearms have been confiscated and then tried to imply
that every one of them was bought in a gun store in the United States.
Of course, Fast and Furious with Eric Holder at the center, put the
light on that little lie. At any rate, expect any black swan event to
occur to try to separate Americans from their guns.
from CBS LA:
LOS ANGELES (CBS) — A bill authored by a Southland lawmaker that could potentially allow the federal government to prevent any Americans who owe back taxes from traveling outside the U.S. is one step closer to becoming law.
Senate Bill 1813 was introduced back in November by Senator Barbara Boxer (D-Los Angeles) to “reauthorize Federal-aid highway and highway safety construction programs, and for other purposes” .
After clearing the Senate on a 74 – 22 vote on March 14, SB 1813 is now headed for a vote in the House of Representatives, where it’s expected to encounter stiffer opposition among the GOP majority.
In addition to authorizing appropriations for federal transportation and infrastructure programs, the “Moving Ahead for Progress in the 21st Century Act” or “MAP-21″ includes a provision that would allow for the “revocation or denial” of a passport for anyone with “certain unpaid taxes” or “tax delinquencies”.
Read More @ LosAngeles.CBSlocal.com
From John Browne, Euro Pacific Capital:
Last
week, the leaders of Brazil, Russia, India, China, and South Africa met
in New Delhi for their fourth annual “BRICS” summit. The meeting
brought together five countries that together represent 43 percent of
the world’s population and 18 percent of the world’s GDP. (More
importantly, the group is currently attracting 53 percent of global
financial capital.) When the gathering concluded on March 29, the
coalition subtly issued its latest challenge to the increasingly
desperate bankers and politicians of the West. They announced more
definitive plans to establish a BRICS-focused development bank, to be
solely funded by the BRICS countries themselves. Such an institution
could allow this emerging bloc to pursue independent policies on the
world stage, thereby challenging the global financial dominance of the
World Bank and the International Monetary Fund (IMF), which for nearly
70 years have served as powerful monetary levers for Western interests.
If the BRICS countries continue to develop in the present trajectories, I believe that in five or ten years they will have the ability to fund their bank at levels that could challenge Western institutions (for why we think Indonesia should be included in the BRICS, see our latest global investor newsletter). If so, the duel between these international banks may be the arena where the world decides what sort of money it really prefers. The contenders will be the debased fiat money of the Anglo-American led debtor nations and a currency backed by the nations whose citizens are awash with savings and whose economies churn out needed goods.
Read More @ EuroPacificCapital.com
Last
week, the leaders of Brazil, Russia, India, China, and South Africa met
in New Delhi for their fourth annual “BRICS” summit. The meeting
brought together five countries that together represent 43 percent of
the world’s population and 18 percent of the world’s GDP. (More
importantly, the group is currently attracting 53 percent of global
financial capital.) When the gathering concluded on March 29, the
coalition subtly issued its latest challenge to the increasingly
desperate bankers and politicians of the West. They announced more
definitive plans to establish a BRICS-focused development bank, to be
solely funded by the BRICS countries themselves. Such an institution
could allow this emerging bloc to pursue independent policies on the
world stage, thereby challenging the global financial dominance of the
World Bank and the International Monetary Fund (IMF), which for nearly
70 years have served as powerful monetary levers for Western interests.If the BRICS countries continue to develop in the present trajectories, I believe that in five or ten years they will have the ability to fund their bank at levels that could challenge Western institutions (for why we think Indonesia should be included in the BRICS, see our latest global investor newsletter). If so, the duel between these international banks may be the arena where the world decides what sort of money it really prefers. The contenders will be the debased fiat money of the Anglo-American led debtor nations and a currency backed by the nations whose citizens are awash with savings and whose economies churn out needed goods.
Read More @ EuroPacificCapital.com
The death of technical analysis has arrived. What took place in the markets (especially in the precious metals) on April 3rd & 4th proves this in spades. There were several calls made prior to the take-down, by some very well known individuals in the precious metal field, that became NULL & VOID when either bottoms or chart patterns failed.
I am not going to name names, but I would imagine those who have been following the gold and silver markets for quite some time, know who I am talking about. That being said, I don’t blame them one bit. Trying to make short term calls based on technical analysis presently has become nearly impossible when the markets are constantly manipulated. I think it is time that we all just realize a monkey throwing a dart at a trend line on a wall is just as useful as short term technical analysis.
There are only a few technical analysts that I respect. They gain my
favor due to the fact that they use technical analysis to forecast
future inflationary trends. Those who are still predicting deflation in
their charts may need to find other employment as their calls have been
wrong time and time again.Furthermore, I am completely surprised by the psychotic nature of the so-called RISK ON & RISK OFF TRADE. Doesn’t anyone take the time to stand back for a minute and just look at what is going on? Does anyone see the insanity of it all?
Read More @ SilverDoctors.com
by Mike Zapler, Politico:
The Republican backlash against President Barack Obama’s health care-SCOTUS remarks shows no sign of subsiding.
In a noon speech today to the Rotary Club of Lexington, Senate Minority Leader Mitch McConnell continued the GOP counteroffensive, telling the president to “back off” the Supreme Court.
“The President crossed a dangerous line this week. And anyone who cares about liberty needs to call him out on it. The independence of the Court must be defended,” McConnell (R-Ky.) said, according to the prepared text of his speech released by his office. “So respectfully, I would suggest the President back off. Let the Court do its work.”
Read More @ Politico
The Republican backlash against President Barack Obama’s health care-SCOTUS remarks shows no sign of subsiding.
In a noon speech today to the Rotary Club of Lexington, Senate Minority Leader Mitch McConnell continued the GOP counteroffensive, telling the president to “back off” the Supreme Court.
“The President crossed a dangerous line this week. And anyone who cares about liberty needs to call him out on it. The independence of the Court must be defended,” McConnell (R-Ky.) said, according to the prepared text of his speech released by his office. “So respectfully, I would suggest the President back off. Let the Court do its work.”
Read More @ Politico
from Brittany Stepniak, Wealth Wire:
You’ve heard it dozens of times: The Fed’s foolishness and the devaluing dollar give investors little choices when it comes to selecting a safe-haven. Per usual, the long-term safe-haven is still gold.
Nonetheless, commodities researcher with Commerzbank AG Eugen Weinberg says gold investors should anticipate heightened negativity within the gold market this spring and summer before gold’s bull-run really picks up some energetic momentum.
This past month alone, gold has fallen about four percent. Some of this may be attributed to the fact that the Fed has deviated from the earlier suspicions suggesting that QE3 would have begun by now.
Read More @ WealthWire.com
You’ve heard it dozens of times: The Fed’s foolishness and the devaluing dollar give investors little choices when it comes to selecting a safe-haven. Per usual, the long-term safe-haven is still gold.
Nonetheless, commodities researcher with Commerzbank AG Eugen Weinberg says gold investors should anticipate heightened negativity within the gold market this spring and summer before gold’s bull-run really picks up some energetic momentum.
This past month alone, gold has fallen about four percent. Some of this may be attributed to the fact that the Fed has deviated from the earlier suspicions suggesting that QE3 would have begun by now.
Read More @ WealthWire.com
from Dominique de Kevelioc de Bailleul, Beacon Equity Research:
Get positioned for the dethroning of the U.S. dollar as the primary
reserve currency, according to Trends Research Institute Founder Gerald
Celente.
Since the balance of global trade has changed quite dramatically from 1944, the year of the Bretton Woods agreement and the introduction of the dollar standard, Celente sees the tend of competing currencies taking on more of the dollar’s role for international trade accelerating.
As far as when western powers will move to a new currency, which has been speculated to include a weighted basket of currencies as well as a gold component, it won’t happen during an election year, Celente speculated. Politics comes first.
“I would expect it to happen after the presidential elections,” Celente told Russia Today. “They’re going to do everything they can to try and keep this thing going and try to sooth any kind of ripples coming from around the world.”
Read More @ BeaconEquity.com
Get positioned for the dethroning of the U.S. dollar as the primary
reserve currency, according to Trends Research Institute Founder Gerald
Celente.Since the balance of global trade has changed quite dramatically from 1944, the year of the Bretton Woods agreement and the introduction of the dollar standard, Celente sees the tend of competing currencies taking on more of the dollar’s role for international trade accelerating.
As far as when western powers will move to a new currency, which has been speculated to include a weighted basket of currencies as well as a gold component, it won’t happen during an election year, Celente speculated. Politics comes first.
“I would expect it to happen after the presidential elections,” Celente told Russia Today. “They’re going to do everything they can to try and keep this thing going and try to sooth any kind of ripples coming from around the world.”
Read More @ BeaconEquity.com
from The Daily Bell:
For those who missed the story, a 77-year old retired pharmacist – Dimitris Christoulas – has shot himself to death in front of the Greek Parliament in Syntagma Square, protesting the degradation of his country. It is a call to arms, a poignant moment in Europe’s unfolding drama, reminiscent of the Buddhist self-immolations of south-east Asia that so captured world attention. His suicide note refers to the Quisling regime of George Tsolakoglou under Axis occupation in World War Two. We have entered perilous waters in Europe. Greece is not an isolated case. Variants of the Greek tragedy are unfolding in a string of countries as they embark on similar policies of self-feeding contraction, as will become clear over the next two years. Spain’s youth unemployment is already 50.5pc. – UK Telegraph/Ambrose Evans-Pritchard
Dominant Social Theme: This death is shocking. We are so sorry! (Nothing will change, though) …
Free-Market Analysis: We have often written that the power elite‘s reaction to the Internet Reformation is one that will not be entirely successful. The suicide of Dimitris Christoulas may perhaps support this contention
Read More @ TheDailyBell.com
For those who missed the story, a 77-year old retired pharmacist – Dimitris Christoulas – has shot himself to death in front of the Greek Parliament in Syntagma Square, protesting the degradation of his country. It is a call to arms, a poignant moment in Europe’s unfolding drama, reminiscent of the Buddhist self-immolations of south-east Asia that so captured world attention. His suicide note refers to the Quisling regime of George Tsolakoglou under Axis occupation in World War Two. We have entered perilous waters in Europe. Greece is not an isolated case. Variants of the Greek tragedy are unfolding in a string of countries as they embark on similar policies of self-feeding contraction, as will become clear over the next two years. Spain’s youth unemployment is already 50.5pc. – UK Telegraph/Ambrose Evans-Pritchard
Dominant Social Theme: This death is shocking. We are so sorry! (Nothing will change, though) …
Free-Market Analysis: We have often written that the power elite‘s reaction to the Internet Reformation is one that will not be entirely successful. The suicide of Dimitris Christoulas may perhaps support this contention
Read More @ TheDailyBell.com
by Charles Hugh Smith, Of Two Minds:
Here is Part 2: INTRODUCTION
We will cover a great many ideas in the chapters ahead, and one that helps us understand our reluctance to embrace positive change is the social control myth. These myths are propagated and marketed by the Status Quo to maintain control of the social order so that it serves the interests of those in power at the expense of the non-Elites. If you control an individual’s beliefs, you control his actions, habits and responses.
The key social control myth is that the system serves your self-interest. If you believe this, then you will defend an oppressive, exploitive, parasitical Status Quo in the misplaced belief it serves your personal interests.
The chief purpose of propaganda is to establish and renew various social control myths. Central States have long deployed powerful myths to solidify their control: “we are being threatened by outside forces, so rally round” remains popular due to its enduring success.
Read More @ OfTwoMinds.com
Here is Part 2: INTRODUCTION
We will cover a great many ideas in the chapters ahead, and one that helps us understand our reluctance to embrace positive change is the social control myth. These myths are propagated and marketed by the Status Quo to maintain control of the social order so that it serves the interests of those in power at the expense of the non-Elites. If you control an individual’s beliefs, you control his actions, habits and responses.
The key social control myth is that the system serves your self-interest. If you believe this, then you will defend an oppressive, exploitive, parasitical Status Quo in the misplaced belief it serves your personal interests.
The chief purpose of propaganda is to establish and renew various social control myths. Central States have long deployed powerful myths to solidify their control: “we are being threatened by outside forces, so rally round” remains popular due to its enduring success.
Read More @ OfTwoMinds.com
by Lars Schall, GATA.org:
On April 3 I wrote the following inquiry to the Press Office of Deutsche Bundesbank, Germany’s central bank.
“Dear Ladies and Gentlemen:
“My name is Lars Schall. I am a freelance journalist for finance. May I ask you to help in a matter in which the Bank of England, the U.S. Treasury, the U.S. Exchange Stabilization Fund, the Board of Governors of the Federal Reserve, and the New York Federal Reserve were not cooperative in any way?
“See ‘Germany Should End the Secrecy and Bring Its Gold Home,’ Monday, October 10, 2011:
http://www.gata.org/node/10550
“The contact with the press office of the New York Fed was especially unsastisfying (January 3, 2012):
http://www.gata.org/node/10846
“The questions I have for you are:
“– Does the Bundesbank have swap arrangements with any of those mentioned parties related to the German gold reserve overseas?
Read More @ GATA.org
On April 3 I wrote the following inquiry to the Press Office of Deutsche Bundesbank, Germany’s central bank.
“Dear Ladies and Gentlemen:
“My name is Lars Schall. I am a freelance journalist for finance. May I ask you to help in a matter in which the Bank of England, the U.S. Treasury, the U.S. Exchange Stabilization Fund, the Board of Governors of the Federal Reserve, and the New York Federal Reserve were not cooperative in any way?
“See ‘Germany Should End the Secrecy and Bring Its Gold Home,’ Monday, October 10, 2011:
http://www.gata.org/node/10550
“The contact with the press office of the New York Fed was especially unsastisfying (January 3, 2012):
http://www.gata.org/node/10846
“The questions I have for you are:
“– Does the Bundesbank have swap arrangements with any of those mentioned parties related to the German gold reserve overseas?
Read More @ GATA.org
from JS Mineset:
Jim, Just a brief note…
In two weeks a major national paint vendor will institute their price increase. It is expected to be an increase of about 6% across the board. They are generally the leader of the pack with other companies following suit shortly thereafter. Prices have stagnated on some items after price increases earlier in the year but we are still seeing a slow push higher by manufacturers and large wholesalers.
A relatively large hardware store in the metro area recently closed its doors and a friendly competitor of ours informed us that business is very slow. As the wholesale markets increases prices, more and more end user sellers are jumping over each other to make sales. If I pay $2 for a widget and sell it for $2.10, I cannot pay my overhead. This is in many cases what is being done just to move merchandise. How long it can go on for is anyone’s guess.
Read More @ JSMineset.com
Jim, Just a brief note…In two weeks a major national paint vendor will institute their price increase. It is expected to be an increase of about 6% across the board. They are generally the leader of the pack with other companies following suit shortly thereafter. Prices have stagnated on some items after price increases earlier in the year but we are still seeing a slow push higher by manufacturers and large wholesalers.
A relatively large hardware store in the metro area recently closed its doors and a friendly competitor of ours informed us that business is very slow. As the wholesale markets increases prices, more and more end user sellers are jumping over each other to make sales. If I pay $2 for a widget and sell it for $2.10, I cannot pay my overhead. This is in many cases what is being done just to move merchandise. How long it can go on for is anyone’s guess.
Read More @ JSMineset.com
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