from Gold Core:
Gold is consolidating near record highs in the euro and is less than 1% below the record intraday high from just over a year ago on September 9th 2011.
One of the most astute financial analysts in the world, Jim Grant, founder of highly respected Grant’s Interest Rate Observer, was asked by Maria Bartiromo on CNBC yesterday “how high can gold go”? Grant responded that “there is no telling.”
Grant was asked about the stock market and where to invest today and asked if “you want to get in front of this train?” He responded by advocating “security analysis” and said that he thinks that that is “where an investment in gold and silver comes in”.
Grant said the following: “Central banks around the world are bound and determined — either through actions or words to debase their currency. They’re telling us”
When asked how high gold could go, Grant astutely noted that: “The nice thing about gold, it has no PE multiple. There’s no telling.”
Read More @ GoldCore.com
Gold is back to its former glory – at least in terms of global mining mergers and acquisitions.
In the first half of 2012, the precious metal unseated other resources such as copper, coal and iron ore for the top spot, according to a new report from PwC. The main driver: A decline in gold equity prices, which prompted action from mining companies who are looking for cheap ways to get their hands on new resources.
In total, there were 940 deals in the mining space from January to June, worth a total of $79-billion. However, much of that value stems from the pending takeover of Xstrata by Swiss-based Glencore, which tipped the scales at $53.6-billion. Deal volume was actually down, as there were 1,371 in the first six months of 2011 – although that was the busiest time on record.
Canadian mining dealmakers should get a pat on the back for making the country the top acquirer in the world, after the behemoth Glencore/Xstrata deal was taken out of the mix. Transactions by Canadian companies amounted to 16 per cent of global deals – 2 percentage points higher than those of the U.K., and 3 higher than those out of China.
Read More @ TheGlobeAndMail.com
Gold is consolidating near record highs in the euro and is less than 1% below the record intraday high from just over a year ago on September 9th 2011.
One of the most astute financial analysts in the world, Jim Grant, founder of highly respected Grant’s Interest Rate Observer, was asked by Maria Bartiromo on CNBC yesterday “how high can gold go”? Grant responded that “there is no telling.”
Grant was asked about the stock market and where to invest today and asked if “you want to get in front of this train?” He responded by advocating “security analysis” and said that he thinks that that is “where an investment in gold and silver comes in”.
Grant said the following: “Central banks around the world are bound and determined — either through actions or words to debase their currency. They’re telling us”
When asked how high gold could go, Grant astutely noted that: “The nice thing about gold, it has no PE multiple. There’s no telling.”
Read More @ GoldCore.com
In the first half of 2012, the precious metal unseated other resources such as copper, coal and iron ore for the top spot, according to a new report from PwC. The main driver: A decline in gold equity prices, which prompted action from mining companies who are looking for cheap ways to get their hands on new resources.
In total, there were 940 deals in the mining space from January to June, worth a total of $79-billion. However, much of that value stems from the pending takeover of Xstrata by Swiss-based Glencore, which tipped the scales at $53.6-billion. Deal volume was actually down, as there were 1,371 in the first six months of 2011 – although that was the busiest time on record.
Canadian mining dealmakers should get a pat on the back for making the country the top acquirer in the world, after the behemoth Glencore/Xstrata deal was taken out of the mix. Transactions by Canadian companies amounted to 16 per cent of global deals – 2 percentage points higher than those of the U.K., and 3 higher than those out of China.
Read More @ TheGlobeAndMail.com
from Wealth Cycles:
Gold is money today. Many still believe the big lie that gold is not
money. They think of gold in terms of eventually converting it back into
fiat paper rectangle units to be exchanged for goods or services. Well
educated, middle-class people believe that gold is not used in banking
or as money today.
Much of this misperception is due to the misinformation disseminated by mainstream media and the educational system. We hear that gold does not earn a revenue stream. This, too is incorrect; to refute it, one can simply look up the gold and silver lease rates, as we detail in Bullion Bank Silver and Gold Leasing.
If you save in terms of gold and silver coins, there are many businesses and individuals who would gladly trade goods or services you want, in exchange for some savings of their own. The propensity of this opportunity will grow immensely as more and more people become aware of the imminent collapse of our existing monetary system and the protection offered by real money, gold and silver. Being pre-positioned today will serve great benefit in the future.
Read More @ WealthCycles.com
Gold is money today. Many still believe the big lie that gold is not
money. They think of gold in terms of eventually converting it back into
fiat paper rectangle units to be exchanged for goods or services. Well
educated, middle-class people believe that gold is not used in banking
or as money today.Much of this misperception is due to the misinformation disseminated by mainstream media and the educational system. We hear that gold does not earn a revenue stream. This, too is incorrect; to refute it, one can simply look up the gold and silver lease rates, as we detail in Bullion Bank Silver and Gold Leasing.
If you save in terms of gold and silver coins, there are many businesses and individuals who would gladly trade goods or services you want, in exchange for some savings of their own. The propensity of this opportunity will grow immensely as more and more people become aware of the imminent collapse of our existing monetary system and the protection offered by real money, gold and silver. Being pre-positioned today will serve great benefit in the future.
Read More @ WealthCycles.com
from Silver Doctors:
Gold and silver are both currently spiking, with silver up .60 to $35.32, and gold up nearly $20 to $1786!
Silver has decisively sliced through the critical resistance zone of $35 that the cartel has been capping all week, and has extended well into the $35′s. A close above $35 would be crucial, and as we have repeatedly mentioned, should set up a very quick run to $37-$37.50 as stops are triggered, and momentum traders join the trade as silver has now CLEARLY BROKEN OUT!
Silver’s near vertical run up to $35, a very brief consolidation at $35, and then a vertical move as stops were triggered as silver shot through $35:
Read More @ Silver Doctors
Gold and silver are both currently spiking, with silver up .60 to $35.32, and gold up nearly $20 to $1786!Silver has decisively sliced through the critical resistance zone of $35 that the cartel has been capping all week, and has extended well into the $35′s. A close above $35 would be crucial, and as we have repeatedly mentioned, should set up a very quick run to $37-$37.50 as stops are triggered, and momentum traders join the trade as silver has now CLEARLY BROKEN OUT!
Silver’s near vertical run up to $35, a very brief consolidation at $35, and then a vertical move as stops were triggered as silver shot through $35:
Read More @ Silver Doctors
"Gold Seen Luring Wealthy As Central Bankers Expand Stimulus"
Dave in Denver at The Golden Truth - 40 minutes ago
*Right now, the best expression of our macro view is still to own gold and
silver because we believe this is ultimately going to be the survivor of
this Debt Supercycle. We believe it’s going to be the surviving
collateral...You have to countenance into the largest Debt Supercycle
that’s known to man, that what happened in the late 1970s could pale in
significance relative to what could happen in the next five years here. I
think September 12th might well have marked the day the world embarked on
serial debasement of the reserve currency, and set the train in motion for
a really ... more »
On Santelli's Queasiness About Bernanke's Quantitative-Easiness
Between CNBC's Rick Santelli and PIMCO's Mohammed El-Erian, this brief clip succinctly sums up the 'less than ideal' reality of Bernanke's all-in bet and how the world is trying to 'trade' it. Santelli analogizes: "Visualize the biggest fire hose in the world, 20 miles away from a little Geranium plant? Now this hose is going and going and going, and ultimately, that Geranium plant gets a little bit of water but everything around it and leading up to it for miles around is just underwater. That's QE, in my opinion." To which El-Erian retorts: "at what point do you tell investors stop focusing on the benefits and make the collateral damage the investment theme?" It seems, given gold's outperformance, that this is exactly what is occurring as the hose-pipe's flood spills out everywhere.
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Forget
QE3 in the US, or whatever round of quantitative easing we are now up
to here in the UK; in Japan they are about to embark on QE7, or is that
QE8 – it’s hard to keep up.
by Jeremy Warner, The Telegraph:
In the land of the setting sun, QE is now such an everyday part of
the economic landscape that it would barely have warranted a mention,
let alone an entire column, but for the fact that the latest dollop of
“unconventional” policy action appears to be part of a co-ordinated,
global response to the economic slowdown .
Like big deficits and mountainous public debt, in Japan, QE no longer generates the same agonised debate it does in the West. It just is. For Japan, the “unconventional” is now very much the conventional.
And little good does it seem to have done either. The Japanese economy remains firmly frozen in time, having barely grown for more than 20 years now. Everything is relative, of course, and it can reasonably be argued that without all this monetary and fiscal policy action, things might have been worse. Measured per head of those of working age, moreover, growth looks much more flattering, so it could also be argued that overall economic stagnation is only the inevitable result of an ageing society.
The point is, neither QE, nor indeed massive, Keynesian-style, deficit spending, have managed to achieve the hoped for economic revival.
Read More @ Telegraph.co.uk
by Jeremy Warner, The Telegraph:
In the land of the setting sun, QE is now such an everyday part of
the economic landscape that it would barely have warranted a mention,
let alone an entire column, but for the fact that the latest dollop of
“unconventional” policy action appears to be part of a co-ordinated,
global response to the economic slowdown .Like big deficits and mountainous public debt, in Japan, QE no longer generates the same agonised debate it does in the West. It just is. For Japan, the “unconventional” is now very much the conventional.
And little good does it seem to have done either. The Japanese economy remains firmly frozen in time, having barely grown for more than 20 years now. Everything is relative, of course, and it can reasonably be argued that without all this monetary and fiscal policy action, things might have been worse. Measured per head of those of working age, moreover, growth looks much more flattering, so it could also be argued that overall economic stagnation is only the inevitable result of an ageing society.
The point is, neither QE, nor indeed massive, Keynesian-style, deficit spending, have managed to achieve the hoped for economic revival.
Read More @ Telegraph.co.uk
By John Hampson, The Market Oracle:
Agricultural commodities prices resumed upward trends in June 2012,
largely due to drought conditions in key global farming areas on top of
existing low inventories. Extreme global conditions continue, with the
period June-August of 2012 the hottest such period historically on
record.
Taking a broad agricultural commodities ETC (ETF), we can see that softs are now back up into the price range experienced in 2011, and not far from 2008′s peaks.
Now take a look at how the 2008 and 2011 episodes of rising food prices brought about social unrest and political upheaval in poorer countries across the world:
Read More @ TheMarketOracle.co.uk
Agricultural commodities prices resumed upward trends in June 2012,
largely due to drought conditions in key global farming areas on top of
existing low inventories. Extreme global conditions continue, with the
period June-August of 2012 the hottest such period historically on
record.Taking a broad agricultural commodities ETC (ETF), we can see that softs are now back up into the price range experienced in 2011, and not far from 2008′s peaks.
Now take a look at how the 2008 and 2011 episodes of rising food prices brought about social unrest and political upheaval in poorer countries across the world:
Read More @ TheMarketOracle.co.uk
Quote Of The Week
Our quote of the week award recipient is none other than Atlanta Fed's Dennis Lockhart for the following pearl of wisdom:- LOCKHART SAYS FED WILL BUY BONDS UNTIL U.S. EMPLOYMENT IMPROVES.
A Schematic Of Japan's Entire Economy In One Chart
We
won't even pretend to claim we have any idea what is going on here. We
know it's pretty and very detailed, so some intern definitely wasted
lots of hours to plug goalseeked fund flow data (which is never accurate
and is merely an estimated plug using actual calculated private fund
flows) into this schematic demonstrating how the Japanese economy
performed in the most recent quarter. We also know that while largely
irrelevant, it would be useful for our own Federal Reserve to come out
with something comparable.Decentralize Or Die!
The
single most often broached argument that Liberty Movement writers,
analysts, and strategists are confronted with by skeptics alongside well
meaning but cynical newcomers is the assertion that while we
happen to be very effective at pointing out the dangers of globalism and
centralization, we rarely seem to take the initiative to offer
“solutions” to the problem. This same argument is also used by
establishment shills as a way to distract the public’s attentions from
the very real despotic enterprises of their elitist employers. In
reality, the contention that the Liberty Movement offers no solutions is
entirely false. We have constructed many. The problem is that these solutions are not the kind that the general American public wants to entertain. The bottom line is that there is little time left for top-down political fairytale dreams,
and little utility left in standard street actions. The real
solutions require blood, sweat, and tears, starting with a method I
have discussed for quite some time: Decentralization.Apple Creates New Job Category: Professional, Like, Line-Waiters
Some have argued that iPhone 5 will single-handedly save the world's economy (as we 'discussed' here)
and indeed it seems an entire new category of employment has been
created thanks to the pathetic desperation of so many needing the new
'old' iPhone. As Bloomberg BusinessWeek
reports, among the thousands of people expected to wait for hours
outside of Apple's stores today, at least a couple hundred of them will
be paid just to stand there. TaskRabbit appears to be the pre-emptive
winner in 'arranging' these 'waiting-in-line' deals as one 'queuer'
stated "I am a professional line waiter." Of course,
the conspiracist would wonder aloud whether these crowd-fillers and
line-waiters are indirectly 'purchased' to create more buzz by the
demigod itself. Nevertheless, what an inspiration these Americans are: "I've done other waiting-in-line things. I think it's going to end up being, like, my specialty." If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State. – Joseph Goebbels, Minister of Nazi Propaganda
Jim Sinclair’s Commentary
Of course. What else do you expect when it is clear that Wall Street owns Washington?
This lack of ethical procedures guarantees nothing changes and gold goes to and beyond $3500
Wall Street Rolling Back Another Key Piece of Financial Reform POSTED: September 20, 9:33 AM ET
Wall Street lobbyists are awesome. I’m beginning to develop a begrudging respect not just for their body of work as a whole, but also for their sense of humor. They always go right to the edge of outrageous, and then wittily take one baby-step beyond it. And they did so again last night, with the passage of a new House bill (HR 2827), which rolls back a portion of Dodd-Frank designed to protect cities and towns from the next Jefferson County disaster.
Jefferson County, Alabama was the most famous case – the city of Birmingham went bankrupt after being bribed and goaded into taking on billions of dollars of toxic swap deals – but in fact it was just one of hundreds ofsimilar examples of localities being duped into suicidal financial deals by rapacious banks and financial companies. The Denver school system, for instance, got clobbered when it opted for an exotic swap deal pushed by J.P. Morgan Chase (the same villain in Jefferson County, incidentally) and then-school superintendent/future U.S. Senator Michael Bennet, that ended up costing the school system tens of millions of dollars. As was the case in Jefferson County, the only way out of the deal involved a massive termination fee that might have been even more destructive than the deal itself.
To deal with this problem, the Dodd-Frank Act among other things included a simple reform. It required the financial advisors of municipalities to do two things: register with the SEC, and accept a fiduciary duty to respect the best interests of the taxpayers they are advising.
Sounds simple, right? But Wall Street couldn’t have that. After all, if companies are required to have a fiduciary responsibility to cities and towns, how in the world can they screw cities and towns? The idea was a veritable axe-blow to the banks’ municipal advisory businesses.
So what did Wall Street lobbyists and trade groups like SIFMA (the Securities Industry and Financial Markets Association) do? Well, they did what they’ve been doing to Dodd-Frank generally: they Swiss-cheesed the law with a string of exemptions. The industry proposal that ended up being HR 2827 created several new loopholes for purveyors of swaps and other such financial products to cities and towns. Here’s how the pro-reform group Americans for Financial Reform described the loopholes (emphasis mine):
More…
Jim Sinclair’s Commentary
Our Banksters have a team of attorneys and accountants for the singular purpose of hiding risk.
This is a dilly. Nothing changes therefore gold is on its way to $3500.
How to Lose Weight Fast the Deutsche Bank Way
By Jonathan Weil Sep 20, 2012 6:30 PM ET
Imagine if I told you I could reduce my own body weight by 80 percent or more, on paper, through a series of calculations utilizing my own proprietary mathematical models, the details of which are so complex and highly prized that I couldn’t divulge them.
You would be right not to believe me, and might think I’m nuts. Yet this, in essence, is what regulators let banks do all the time with their balance sheets. Huge swaths of assets are allowed to vanish, making too-big-to-fail financial institutions seem leaner and safer than they are.
Under the system known as risk weighting, banks get away with this because they are allowed to stipulate that some assets carry little, if any, risk. Many government bonds, for instance, fall into the riskless category for purposes of determining regulatory-capital ratios. So a bank can assume it won’t incur losses on them, which allows it to keep a lower capital cushion. The flaw here is that rulemakers aren’t good at predicting what kinds of assets might blow up. Some governments, especially in Europe, are in awful shape and pose a real risk of defaulting.
In other words, the notion of risk weighting is a farce, at least the way it is practiced now. Yet it carries the imprimatur of the Basel Committee on Banking Supervision, the Swiss body that writes capital standards for most of the developed world. Thankfully, a U.S. regulator has stepped up to say the world should scrap the Basel committee’s standards.
More…
Jim Sinclair’s Commentary
I have told you for years that the singular greatest opportunity for the mega farmer lies in Tanzania.
S Korea ‘in Tanzania land deal’
South Korea says it has agreed to develop farmland in Tanzania – the latest in a series of such deals between rich and poor nations.
Korean officials say 1,000 sq km (386 sq miles) will be developed – half for local farmers, half to produce processed goods for South Korea.
But Tanzanian officials have denied that any deal has been finalised.
Seoul also signed a deal last year to lease a vast area of Madagascar.
Rich countries have increasingly sought farmland in poorer nations to help shore up food supplies.
Countries such as China, Saudi Arabia, South Korea and Kuwait are short of arable land and have been seeking agricultural investments in Africa.
But South Korea’s deal in Madagascar – which would have seen it lease an area the size of Belgium from the island nation – has been thrown into uncertainty.
Madagascar’s government was overthrown in a coup earlier this year and the new leaders said they would scrap the deal, which was cited as one reason for the unrest.
More…
Jim Sinclair’s Commentary
Since Wall Street management are a group of sociopaths who hire younger sociopaths and have no ability as a group to grow a conscience and politicians will never change, gold at and above $3500 is guaranteed by this understanding.
This is also the message of the illustration of the Skier given you years ago.
DEUTSCHE BANK: Western Economies Are Screwed, And Investors Face A ‘Disturbing Paradox’ Matthew Boesler | Sep. 20, 2012, 12:54 PM
In a new report entitled Gold: Adjusting For Zero, Deutsche Bank analysts Daniel Brebner and Xiao Fu paint an incredibly dark picture of the bind the global economy is in right now.
Brebner and Xiao are pretty frank about how levered up the financial system is at the moment, and they warn that the next shock will be totally involuntary and unexpected.
Here is what the analysts have to say about how upside down the world is right now and the risks looming on the horizon:
We believe the balance of 2012 could remain challenging for investors, given the many negative indicators and warning signs. Certainly extremes in leverage in the Western economies and questions regarding growth in China present investors with a worrying post-2012 future. However, in our view there are nearly zero real choices available to global policy makers. The world needs growth and it is willing to go to extraordinary lengths to get it. This is creating distortions where old rules don’t seem to apply and where investors face a disturbing paradox:
Those who are right are likely to be wrong
Those who lose, often win
Those who are imprudent can be rewarded
Dumb money can win
In the first instance, we believe investors are right to worry; the imbalances in the global economy are extreme and need to be urgently addressed, proactively. This is unlikely however, making a necessary future adjustment likely to be involuntary and therefore unexpected. Those who are right are likely to be wrong for a considerable period of time.
More…
Jim Sinclair’s Commentary
What is required money wise will be provided for Spain regardless of the endless verbiage common to Europe.
EU in talks over Spanish rescue plan By Peter Spiegel in Brussels and Miles Johnson in Madrid
EU authorities are working behind the scenes to pave the way for a new Spanish rescue programme and unlimited bond buying by the European Central Bank, by helping Madrid craft an economic reform programme that will be unveiled next week.
According to officials involved in the discussions, talks between the Spanish government and the European Commission are focusing on measures that would be demanded by international lenders as part of a new rescue programme, ensuring they are in place before a bailout is formally requested.
News of the talks helped boost the euro on Friday, with the currency rising briefly above $1.30 before settling at $1.29.62. Analysts at Morgan Stanley said there was likely to be renewed support for EU asset markets.
One senior European official said negotiations have been conducted directly with Luis de Guindos, the Spanish finance minister. The plan, due to be unveiled next Thursday, will focus on structural reforms to the Spanish economy long requested by Brussels, rather than new taxes and spending cuts.
“It is a kind of ‘proto-programme,’ if such were needed,” the official said. The commission could, however, still request more austerity measures next month to meet existing EU budget targets, which Madrid is expected to miss.
More…
Economic Effects of QE Will Be Realized Soon Says The Markets
CIGA Eric
Agreed, the message of the market confirms that the economic effects of QE3 will be realized soon. That’s why suggest that the equity bears read Jim’s comments below.
Growing trend energy behind the trend implies a steady rotation risk-on rotation (chart) into equities as long as the dominant cycle permits.
Chart: Risk-on versus Risk-off
My Dear Extended Family,
Everyone has an opinion of QE3. Almost all are wrong.
What has taken place here in its size, and in an almost simultaneous international unified approach has no precedent in economic history.
QE1 and QE2 were not failures. Do you have any idea what the world would have looked like if every major bank in the Western financial world broke?
It is easy to be a naysayer and say let the banks go broke, but you have no idea how hard it would have hit you and yours and maybe gold and silver. This is not to say that Debt Monetization, which QE represents, is correct, but it was the only tool available to central banks that would create infinite cash for the Fed and Treasury to use in a totally discretionary manner. Governments, because of the size of their debt, were incapable of applying the better tool for reviving economic activity, which is fiscal stimulation. One thing for certain is the infrastructure of the USA is collapsing in front of your eyes. Dar es Salaam airport looks better on approach than JFK. Dubai is beyond description. Roads from the Beijing airport are brand new. The USA infrastructure is disgraceful for a major power. New York City roads look like "Mad Max and the Day After." However when you are the major debtor nation fiscal stimulation is simply not possible. It will not happen because it cannot happen.
Please stop listening to those that tell you QE will have no effect. They are "Ignorant to Infinity." QE3 is going to have an unprecedented effect, as it is now simultaneous and global in scope.
Please make note of all the governments that screamed at the Fed for the use of QE1 and QE2 that are now applying QE to infinity.
There will be no QE4 because QE3 is going to go on continually with a month or two off now and then. Please recognize that it is hard for markets to discount what they do not believe in and therefore by definition do not anticipate.
Know within 90 days the economic effects of QE3 will be entering markets for money and therefore the markets for gold, silver, and most certainly the dollar.
Gold is going to at least $3500. Silver will certainly perform well also. The real support for the US dollar is .7200 on the USDX and it will trade there. The euro will trade at $1.35 and $1.40.
Ron McEwen of MUX fame said it correctly: "Patience is bitter; but the fruit is sweet!"
Respectfully,
Jim
Source: jsmineset.com
More…
Friday Humor: 1-800-UGLY
"This time it's different" and "Ugly is contained"
from Zero Hedge:
Dick Fisher speaks: “Just recently, in a hearing before the Senate,
your senator and my Harvard classmate, Chuck Schumer, told Chairman
Bernanke, “You are the only game in town.” I thought the
chairman showed admirable restraint in his response. I would have
immediately answered, “No, senator, you and your colleagues are the
only game in town. For you and your colleagues, Democrat and Republican alike, have encumbered our nation with debt, sold our children down the river and sorely failed our nation. Sober up. Get your act together. Illegitimum non carborundum;
get on with it. Sacrifice your political ambition for the good of our
country—for the good of our children and grandchildren. For unless you
do so, all the monetary policy accommodation the Federal Reserve can
muster will be for naught.””
Read More @ ZeroHedge.com
Do you actually believe any government figures?
Dick Fisher speaks: “Just recently, in a hearing before the Senate,
your senator and my Harvard classmate, Chuck Schumer, told Chairman
Bernanke, “You are the only game in town.” I thought the
chairman showed admirable restraint in his response. I would have
immediately answered, “No, senator, you and your colleagues are the
only game in town. For you and your colleagues, Democrat and Republican alike, have encumbered our nation with debt, sold our children down the river and sorely failed our nation. Sober up. Get your act together. Illegitimum non carborundum;
get on with it. Sacrifice your political ambition for the good of our
country—for the good of our children and grandchildren. For unless you
do so, all the monetary policy accommodation the Federal Reserve can
muster will be for naught.””Read More @ ZeroHedge.com
Do you actually believe any government figures?
Census finds that more young people are moving away from home, but numbers showing food stamp rise could hurt Obama
by Dominic Rushe, Guardian:
The US appears to be emerging slowly from recession as young people
leave home to look for work and historic increases in poverty start to
slow, according to the latest census data. But the recovery is still
leaving many Americans behind.
The Census bureau released its 2011 American Community Survey (ACS), a wide-ranging look at the nation’s economy and communities, on Thursday. The survey found some signs of hope for the jobs and housing markets that were hit so hard by the recession.
About 12% of the nation’s population, or 36.5 million people, moved to a new home in 2011, up from a record low of 11.6% the previous year. Moves among young adults aged 25 to 29 increased to 24.6% from a low of 24.1% in the previous year. The number of young adults living with their parents also fell to 13.6% from 14.2% in the previous year.
The census found that median incomes dropped in 18 states, down from 35 states in 2010. In a potential blow to President Barack Obama, incomes dropped in Nevada, Ohio, North Carolina and Florida, all swing states in the 2012 election.
Read More @ Guardian.co.uk
by Dominic Rushe, Guardian:
The US appears to be emerging slowly from recession as young people
leave home to look for work and historic increases in poverty start to
slow, according to the latest census data. But the recovery is still
leaving many Americans behind.The Census bureau released its 2011 American Community Survey (ACS), a wide-ranging look at the nation’s economy and communities, on Thursday. The survey found some signs of hope for the jobs and housing markets that were hit so hard by the recession.
About 12% of the nation’s population, or 36.5 million people, moved to a new home in 2011, up from a record low of 11.6% the previous year. Moves among young adults aged 25 to 29 increased to 24.6% from a low of 24.1% in the previous year. The number of young adults living with their parents also fell to 13.6% from 14.2% in the previous year.
The census found that median incomes dropped in 18 states, down from 35 states in 2010. In a potential blow to President Barack Obama, incomes dropped in Nevada, Ohio, North Carolina and Florida, all swing states in the 2012 election.
Read More @ Guardian.co.uk
Sir
Mervyn King has cleared the way for the Chancellor to ditch one of his
cast-iron fiscal rules and miss his target to get the national debt
under control by 2016.
by Philip Aldrick, The Telegraph:
The Governor of the Bank of England suggested that it would
acceptable for George Osborne to break his pledge on debt reduction due
to the state of the world economy.
“If it’s because the world economy is growing more slowly, then it would be acceptable,” he said. “It would not be acceptable to miss the debt target if there was no excuse for it.”
The Governor’s comments followed Prime Minister David Cameron’s refusal in Parliament last week to recommit the Government to the debt goal, and comes amid mounting speculation that the target will be missed due to the slowdown in growth.
Sir Mervyn also hinted at tensions with the Chancellor over reform of the banks and warned that the euro crisis remained the biggest threat to prosperity. However, he told Channel 4 News: “We are beginning to see a few signs of a slow recovery.”
Read More @ Telegraph.co.uk
by Philip Aldrick, The Telegraph:
The Governor of the Bank of England suggested that it would
acceptable for George Osborne to break his pledge on debt reduction due
to the state of the world economy.“If it’s because the world economy is growing more slowly, then it would be acceptable,” he said. “It would not be acceptable to miss the debt target if there was no excuse for it.”
The Governor’s comments followed Prime Minister David Cameron’s refusal in Parliament last week to recommit the Government to the debt goal, and comes amid mounting speculation that the target will be missed due to the slowdown in growth.
Sir Mervyn also hinted at tensions with the Chancellor over reform of the banks and warned that the euro crisis remained the biggest threat to prosperity. However, he told Channel 4 News: “We are beginning to see a few signs of a slow recovery.”
Read More @ Telegraph.co.uk
by William L. Gensert, American Thinker:
The media is on its knees. It’s the customary position of worship, and worship they do — Barack Obama — their chosen “one.”
He is the man they told us would halt the rise of the oceans and heal the planet, the man who had game like Lebron, knew more than his advisers, was more brilliant than all brilliance, the smartest man to ever be president, the winner of a Nobel Prize and 2 Grammy awards, who was like Lincoln, then FDR, then JFK, then Reagan, the man who would make America loved and respected the world over, the man who would balance the budget and usher in a new era of racial tolerance — no white America or black America, one America — the man who would get us out of our cars and break our dependency on foreign oil, who would change the economy into a green energy powerhouse, the man who would solve all the ills of all the world, the man who would change everything. He was new, he was different. He was better than the common man; he was more than us; he was like a god.
Read More @ AmericanThinker.com
The media is on its knees. It’s the customary position of worship, and worship they do — Barack Obama — their chosen “one.” He is the man they told us would halt the rise of the oceans and heal the planet, the man who had game like Lebron, knew more than his advisers, was more brilliant than all brilliance, the smartest man to ever be president, the winner of a Nobel Prize and 2 Grammy awards, who was like Lincoln, then FDR, then JFK, then Reagan, the man who would make America loved and respected the world over, the man who would balance the budget and usher in a new era of racial tolerance — no white America or black America, one America — the man who would get us out of our cars and break our dependency on foreign oil, who would change the economy into a green energy powerhouse, the man who would solve all the ills of all the world, the man who would change everything. He was new, he was different. He was better than the common man; he was more than us; he was like a god.
Read More @ AmericanThinker.com
by David McWilliams, David McWilliams:
IT is early morning at possibly the finest observational post in the
rich cultural savannah that is Dublin Airport. The perch here at Butlers
Cafe is to the social observer what the “hide” is to a bird watcher.
We are at a crucial intersection. Straight ahead, the relative civility of area B, where some of the remaining Aer Lingus flights still take off and other reasonably humane carriers cluster. To the right, past the last-minute panickers looking for travel adaptors, is Ryanair country, the long winding road that leads to a grim but cheap, efficient — and, if you are organised, not too unbearable at the price — experience known as low-fare air travel.
Here at the intersection of areas B and C, far from the swank of Terminal 2, all classes of humanity are on show, parading up and down in various stages of irritation.
Airport irritation is a spectrum from the one-off traveller to the weekly flyer at home in the airport — the sort who has a routine and can’t hide his annoyance at knots of elderly Yanks who shuffle aimlessly, holding up the flow.
Read More @ DavidMcWilliams.ie
IT is early morning at possibly the finest observational post in the
rich cultural savannah that is Dublin Airport. The perch here at Butlers
Cafe is to the social observer what the “hide” is to a bird watcher.We are at a crucial intersection. Straight ahead, the relative civility of area B, where some of the remaining Aer Lingus flights still take off and other reasonably humane carriers cluster. To the right, past the last-minute panickers looking for travel adaptors, is Ryanair country, the long winding road that leads to a grim but cheap, efficient — and, if you are organised, not too unbearable at the price — experience known as low-fare air travel.
Here at the intersection of areas B and C, far from the swank of Terminal 2, all classes of humanity are on show, parading up and down in various stages of irritation.
Airport irritation is a spectrum from the one-off traveller to the weekly flyer at home in the airport — the sort who has a routine and can’t hide his annoyance at knots of elderly Yanks who shuffle aimlessly, holding up the flow.
Read More @ DavidMcWilliams.ie
by Jeff Riggenbach, Mises:
Eric Arthur Blair, who is best known under his pseudonym, George
Orwell, was born 107 years ago this month in India, where his father was
a British civil servant. His father’s job, according to Orwell
biographer Gordon Bowker, “was to oversee the growing of opium, mainly
for export to China.” Though young Eric’s mother had herself grown up in
Burma, the daughter of yet another British civil servant, she had long
since tired of Asia; and when her son was only a year old she
successfully lobbied her husband to ship her and their two children —
Eric and his older sister, Marjorie — back to England. Eric did not see
his father again for eight years, until he was nine years old and had
come home for Christmas vacation from his “prep school,” St. Cyprian’s.
Here in the States, a “prep school” is a high school; it preps — that is, it prepares — its students for college, which, on this side of the Atlantic is something that comes after high school and comprises, in effect, grades 13 through 16. In the England Eric Blair grew up in, however, a “prep school” was for children 8 to 13. What it was preparing these children for was what we would call “high school,” but what Eric grew up thinking of as “college.” College, in turn, prepared you for university.
Read More @ Mises.ca
Eric Arthur Blair, who is best known under his pseudonym, George
Orwell, was born 107 years ago this month in India, where his father was
a British civil servant. His father’s job, according to Orwell
biographer Gordon Bowker, “was to oversee the growing of opium, mainly
for export to China.” Though young Eric’s mother had herself grown up in
Burma, the daughter of yet another British civil servant, she had long
since tired of Asia; and when her son was only a year old she
successfully lobbied her husband to ship her and their two children —
Eric and his older sister, Marjorie — back to England. Eric did not see
his father again for eight years, until he was nine years old and had
come home for Christmas vacation from his “prep school,” St. Cyprian’s.Here in the States, a “prep school” is a high school; it preps — that is, it prepares — its students for college, which, on this side of the Atlantic is something that comes after high school and comprises, in effect, grades 13 through 16. In the England Eric Blair grew up in, however, a “prep school” was for children 8 to 13. What it was preparing these children for was what we would call “high school,” but what Eric grew up thinking of as “college.” College, in turn, prepared you for university.
Read More @ Mises.ca
by Llewellyn H. Rockwell, Jr., Lew Rockwell:
How can one combine professional life with the advancement of liberty?
Of course it is presumptuous to offer a definitive answer since all jobs
and careers in the market economy are subject to the forces of the
division of labor. Because a person focuses on one task doesn’t mean
that he or she isn’t great at many tasks; it means only that the highest
productive gains for everyone come from dividing tasks up among many
people of a wide range of talents.
So it is with the freedom movement. The more of us there are, the more we do well to specialize, to cooperate through exchange, to boost our impact by dividing the labor. There is no way to know in advance what is right for any person in particular. There are so many wonderful paths from which to choose (and which I will discuss below). But this much we can know. The usual answer – go into government – is wrongheaded. Too many good minds have been corrupted and lost by following this fateful course.
If often happens that an ideological movement will make great strides through education and organization and cultural influence, only to take the illogical leap of believing that politics and political influence, which usually means taking jobs within the bureaucracy, is the next rung on the ladder to success.
Read More @ LewRockwell.com
While
short term prices for iron ore remain under pressure, Standard
Chartered believes Chinese demand for the metal will only peak in 2025.
by Geoff Candy, MineWeb.com
Much has been made lately of China’s slowing economic growth and the
resultant belief that commodity prices are likely to slow too.
And, while companies like BHP Billiton – which have built fortunes on the back of Chinese growth and its subsequent demand for coal and iron ore – have made a point of managing expectations not only of future growth but also of prices, it is important to remember that, while Chinese economic growth is slowing, the base has changed dramatically.
Indeed, as Standard Chartered points out in a recent, comprehensive note of the Chinese steel sector, while no market can grow forever, even with per capita growth heading downward, there are a number of factors at play that suggest Chinese steel consumption will not peak until 2025.
Read More @ MineWeb.com
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You). Donations will help maintain this goal and defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
How can one combine professional life with the advancement of liberty?
Of course it is presumptuous to offer a definitive answer since all jobs
and careers in the market economy are subject to the forces of the
division of labor. Because a person focuses on one task doesn’t mean
that he or she isn’t great at many tasks; it means only that the highest
productive gains for everyone come from dividing tasks up among many
people of a wide range of talents.So it is with the freedom movement. The more of us there are, the more we do well to specialize, to cooperate through exchange, to boost our impact by dividing the labor. There is no way to know in advance what is right for any person in particular. There are so many wonderful paths from which to choose (and which I will discuss below). But this much we can know. The usual answer – go into government – is wrongheaded. Too many good minds have been corrupted and lost by following this fateful course.
If often happens that an ideological movement will make great strides through education and organization and cultural influence, only to take the illogical leap of believing that politics and political influence, which usually means taking jobs within the bureaucracy, is the next rung on the ladder to success.
Read More @ LewRockwell.com
by Mike Adams, Natural News:
The GMO debate is over. There is no longer any legitimate, scientific defense of growing GM crops for human consumption. The only people still clinging to the outmoded myth that “GMOs are safe” are scientific mercenaries with financial ties to Monsanto and the biotech industry.
GMOs are an anti-human technology. They threaten the continuation of life on our planet. They are a far worse threat than terrorism, or even the threat of nuclear war.
As a shocking new study has graphically shown, GMOs are the new thalidomide. When rats eat GM corn, they develop horrifying tumors. Seventy percent of females die prematurely, and virtually all of them suffer severe organ damage from consuming GMO. These are the scientific conclusions of the first truly “long-term” study ever conducted on GMO consumption in animals, and the findings are absolutely horrifying. (See pictures of rats with tumors, below.)
Read More @ NaturalNews.com
The GMO debate is over. There is no longer any legitimate, scientific defense of growing GM crops for human consumption. The only people still clinging to the outmoded myth that “GMOs are safe” are scientific mercenaries with financial ties to Monsanto and the biotech industry.
GMOs are an anti-human technology. They threaten the continuation of life on our planet. They are a far worse threat than terrorism, or even the threat of nuclear war.
As a shocking new study has graphically shown, GMOs are the new thalidomide. When rats eat GM corn, they develop horrifying tumors. Seventy percent of females die prematurely, and virtually all of them suffer severe organ damage from consuming GMO. These are the scientific conclusions of the first truly “long-term” study ever conducted on GMO consumption in animals, and the findings are absolutely horrifying. (See pictures of rats with tumors, below.)
Read More @ NaturalNews.com
from KingWorldNews:
Today 40 year veteran, Robert Fitzwilson, wrote the following piece
exclusively for King World News. Fitzwilson, who is founder of The
Portola Group, warned, “It is particularly important to have a
substantial allocation to the precious metals for the day when control
is lost and chaos emerges.”
“The good thing about the Federal Reserve’s announcement is that it removed the suspense and doubt swirling about each and every Fed meeting for the foreseeable future. The only possible blockbuster announcement going forward is one that says that they are reversing course. That will never happen until some form of chaos ensues. They confirmed what we all knew. There is no changing course. There was no alternative path …”
Davies continues @ KingWorldNews.com
Today 40 year veteran, Robert Fitzwilson, wrote the following piece
exclusively for King World News. Fitzwilson, who is founder of The
Portola Group, warned, “It is particularly important to have a
substantial allocation to the precious metals for the day when control
is lost and chaos emerges.” “The good thing about the Federal Reserve’s announcement is that it removed the suspense and doubt swirling about each and every Fed meeting for the foreseeable future. The only possible blockbuster announcement going forward is one that says that they are reversing course. That will never happen until some form of chaos ensues. They confirmed what we all knew. There is no changing course. There was no alternative path …”
Davies continues @ KingWorldNews.com
by Susanne Posel, Occupy Corporatism:
In total, there have been a record 48 assassination attempts on President Barack Obama. Most of these “threats” have turned out to be either staged or unsubstantiated by way of having no real intention to put Obama’s life in danger. However, the idea continues to loom on the social consciousness.
The Secret Service has intercepted an alleged threat on Obama’s life made by a resident of Charlotte, North Carolina. The suspect, Donte Jarmar Sims, was arrested and is being detained based on suspicion of planning to assassinate Obama at the Democratic National Convention.
Sims had made 5 Twitter messages in a 14 minute period that stated “”Ima hit president Obama with that Lee Harvey Oswald swag” and “Well Ima Assassinate president Obama this evening !… Gotta get this monkey off my chest while he’s in town.” A specialist for the Secret Service who monitors Twitter found Sims’ tweets.
Read More @ OccupyCorporatism.com
In total, there have been a record 48 assassination attempts on President Barack Obama. Most of these “threats” have turned out to be either staged or unsubstantiated by way of having no real intention to put Obama’s life in danger. However, the idea continues to loom on the social consciousness.
The Secret Service has intercepted an alleged threat on Obama’s life made by a resident of Charlotte, North Carolina. The suspect, Donte Jarmar Sims, was arrested and is being detained based on suspicion of planning to assassinate Obama at the Democratic National Convention.
Sims had made 5 Twitter messages in a 14 minute period that stated “”Ima hit president Obama with that Lee Harvey Oswald swag” and “Well Ima Assassinate president Obama this evening !… Gotta get this monkey off my chest while he’s in town.” A specialist for the Secret Service who monitors Twitter found Sims’ tweets.
Read More @ OccupyCorporatism.com
by Geoff Candy, MineWeb.com
Much has been made lately of China’s slowing economic growth and the
resultant belief that commodity prices are likely to slow too.And, while companies like BHP Billiton – which have built fortunes on the back of Chinese growth and its subsequent demand for coal and iron ore – have made a point of managing expectations not only of future growth but also of prices, it is important to remember that, while Chinese economic growth is slowing, the base has changed dramatically.
Indeed, as Standard Chartered points out in a recent, comprehensive note of the Chinese steel sector, while no market can grow forever, even with per capita growth heading downward, there are a number of factors at play that suggest Chinese steel consumption will not peak until 2025.
Read More @ MineWeb.com
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You). Donations will help maintain this goal and defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
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