by Michael Snyder, The Economic Collapse Blog:
When Barack Obama speaks to the public, it is very rare that he does so without a specific purpose in mind. So why is he urging Americans “to be prepared for a disaster” all of a sudden? On May 31, Obama took time out of his extremely busy schedule to deliver an address at the FEMA National Response Coordination Center in Washington. During his speech, he stressed that every American is responsible for preparing for disasters, and that includes “having an evacuation plan” and “having a fully stocked disaster supply kit”. These are basic steps that I have been encouraging people to do for years, but if they won’t listen to me, perhaps they will listen to the man currently residing in the White House. The following excerpt from Obama’s speech comes directly from the official White House website…
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When Barack Obama speaks to the public, it is very rare that he does so without a specific purpose in mind. So why is he urging Americans “to be prepared for a disaster” all of a sudden? On May 31, Obama took time out of his extremely busy schedule to deliver an address at the FEMA National Response Coordination Center in Washington. During his speech, he stressed that every American is responsible for preparing for disasters, and that includes “having an evacuation plan” and “having a fully stocked disaster supply kit”. These are basic steps that I have been encouraging people to do for years, but if they won’t listen to me, perhaps they will listen to the man currently residing in the White House. The following excerpt from Obama’s speech comes directly from the official White House website…
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by Piper McGowin, The Daily Sheeple:
Can you imagine lining up around the block overnight just to be able to
shop in a government-run, government-restricted grocery store where you
have to be fingerprinted to enter and then your food is allotted to you
so that you can only buy a limited amount of a certain item each month?
As the sharp drop in oil prices continues to destroy Venezuela’s economy, the IMF, who owns large portions of the developing world, is now predicting inflation will skyrocket to 720% in Venezuela this year.
Food prices are hitting astronomical rates. Pretty soon, it’s looking like hardly anyone will be able to afford to eat.
The L.A. Times recently interviewed a 42-year-old single mother who works as an accounting assistant for the government ministry and lives in Caracas. She makes 27,000 bolivars, including a food allowance, each month. That would equal $2,700 a month normally, but check out how much money she has to spend these days on food and what she has to go through just to feed her children.
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Can you imagine lining up around the block overnight just to be able to
shop in a government-run, government-restricted grocery store where you
have to be fingerprinted to enter and then your food is allotted to you
so that you can only buy a limited amount of a certain item each month?As the sharp drop in oil prices continues to destroy Venezuela’s economy, the IMF, who owns large portions of the developing world, is now predicting inflation will skyrocket to 720% in Venezuela this year.
Food prices are hitting astronomical rates. Pretty soon, it’s looking like hardly anyone will be able to afford to eat.
The L.A. Times recently interviewed a 42-year-old single mother who works as an accounting assistant for the government ministry and lives in Caracas. She makes 27,000 bolivars, including a food allowance, each month. That would equal $2,700 a month normally, but check out how much money she has to spend these days on food and what she has to go through just to feed her children.
Read More
It's Probably Nothing: JPMorgan Recession Indicators Surge To New Cycle Highs
"Our preferred macroeconomic indicator of the probability that a recession begins within 12 months has moved up from 30% on May 5 to 34% last week to 36% today... a new high for the cycle."
by Ted Butler, via Silver Doctors:
After studying the silver market closely for more than three decades, I
find it nearly unbelievable that its single most important price factor
is widely unknown. Admittedly, the vast majority of the investment
world has little interest in silver and that’s unlikely to change any
time soon. But underappreciation has its merits in the investment world.
After all, silver does have a history of climbing in price higher and
faster than just about any other asset and a multitude of factors now
point to another massive price move higher ahead.
The factors favoring a big move higher revolve around the incredibly small amount of physical silver available for investment as a result of most of the silver produced over the centuries having been used up in industrial applications. That, in combination with the fact that more investment buying power exists today than ever in the history brings to mind the words of the famous silver speculator, Bunker Hunt, “silver is an accident waiting to happen.” Granted, silver also has a history of plunging more than other commodities, but since prices have already declined by 70% from the peak of five years ago, the next big move will, undoubtedly, be up.
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After studying the silver market closely for more than three decades, I
find it nearly unbelievable that its single most important price factor
is widely unknown. Admittedly, the vast majority of the investment
world has little interest in silver and that’s unlikely to change any
time soon. But underappreciation has its merits in the investment world.
After all, silver does have a history of climbing in price higher and
faster than just about any other asset and a multitude of factors now
point to another massive price move higher ahead.The factors favoring a big move higher revolve around the incredibly small amount of physical silver available for investment as a result of most of the silver produced over the centuries having been used up in industrial applications. That, in combination with the fact that more investment buying power exists today than ever in the history brings to mind the words of the famous silver speculator, Bunker Hunt, “silver is an accident waiting to happen.” Granted, silver also has a history of plunging more than other commodities, but since prices have already declined by 70% from the peak of five years ago, the next big move will, undoubtedly, be up.
Read More
by Nathan McDonald, Sprott Money:
“The degree of which I am bullish gold – I would characterize as
‘very’. I would characterize gold not so much as a hedge against
monetary disorder, but as an investment in it. People will say well
that’s a hedge against Armageddon, no, Armageddon doesn’t happen mostly,
but what we are in the midst of is monetary shenanigans, and I see no
real chance of being fewer of them, and a great chance there will be
more of them.”
Truer words have never been spoken. The above statement was made by the legendary mind Jim Grant in one of his most recent interviews . He is fully in the camp of the awake and the enlightened who can see the approaching financial disaster that is just over the horizon.
Unfortunately, for every one person that is waking up and preparing for the future that Jim envisions, there are hundreds more that are blissfully asleep at the wheel, content to ignore the facts until they careen off the edge of the cliff.
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“The degree of which I am bullish gold – I would characterize as
‘very’. I would characterize gold not so much as a hedge against
monetary disorder, but as an investment in it. People will say well
that’s a hedge against Armageddon, no, Armageddon doesn’t happen mostly,
but what we are in the midst of is monetary shenanigans, and I see no
real chance of being fewer of them, and a great chance there will be
more of them.”Truer words have never been spoken. The above statement was made by the legendary mind Jim Grant in one of his most recent interviews . He is fully in the camp of the awake and the enlightened who can see the approaching financial disaster that is just over the horizon.
Unfortunately, for every one person that is waking up and preparing for the future that Jim envisions, there are hundreds more that are blissfully asleep at the wheel, content to ignore the facts until they careen off the edge of the cliff.
Read More
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