Uncharted Waters

April21

World Finance Leaders See Threats Ahead for Global Economy


From the article:

The world’s financial leaders see a number of threats facing a global economy still on an uneven road to recovery with U.S. and European officials worrying that Greece will default on its debt.

The finance ministers and central bank governors ended three days of meetings in Washington determined to work toward “a more robust, balanced and job-rich economy” while admitting there are risks in reaching that objective, the steering committee of the International Monetary Fund said in its communique Saturday.

http://apnews.myway.com/article/20150419/us–global_finance-c885086ae3.html

The Sky is the Limit

February3

Barack Obama Says That What America Really Needs Is Lots More Debt


From the article:

When it comes to taking a chainsaw to the future of America, nobody seems more eager than Barack Obama.  Despite the fact that the U.S. national debt is on pace to approximately double during his eight years in the White House, he has just proposed a budget that would take government spending to crazy new heights.

http://theeconomiccollapseblog.com/archives/barack-obama-says-america-really-needs-lots-debt

I usually put up several comments but I thought this one says it all:

Most Amerikans don’t care. They were more wrapped up in the Super Bowl. If any Amerikans did care, they cared about the wrong thing like trying to get more out of the treasury for themselves (applies to businesses and individuals). Our country is morally broke as well as financially broke. This will hit people hard.

Less than a year ago…

January22

From Zero Hedge:

The Real Unemployment Rate: In 20% Of American Families, Everyone Is Unemployed


From the article:

According to shocking new numbers that were just released by the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working.  So when someone tries to tell you that the unemployment rate in the United States is about 7 percent, you should just laugh.  One-fifth of the families in the entire country do not have a single member with a job.  That is absolutely astonishing.  How can a family survive if nobody is making any money?  Well, the answer to that question is actually quite easy.  There is a reason why government dependence has reached epidemic levels in the United States.

http://www.zerohedge.com/news/2014-04-29/real-unemployment-rate-20-american-families-everyone-unemployed

Here’s a reminder for those who have forgotten: The unemployment rolls only count those who are being paid unemployment. Which is limited. Once you are off their rolls and you still haven’t found a job you are no longer counted. So, what the real number’s are is anyone’s guess.

up, Up, UP…

January22

From Forbes:

The U.S. Debt Continues To Climb


From the article:

The U.S. debt has surpassed $18.0 trillion and continues to grow with no signs of remission. In fact, it has more than doubled in the past 10 years, growing at an annual rate of 8.82%. In 2018, just four years from now, it is expected to exceed $22.0 trillion. What consequences may lurk as a result of this debt burden? Let’s examine this now.

http://www.forbes.com/sites/mikepatton/2014/12/29/the-u-s-debt-continues-to-climb/

History Repeating Itself

January8

10 Key Events That Preceded The Last Financial Crisis Are Happening Again

From the article:

If you do not believe that we are heading directly toward another major financial crisis, you need to read this article.  So many of the exact same patterns that preceded the great financial collapse of 2008 are happening again right before our very eyes.  History literally appears to be repeating, but most Americans seem absolutely oblivious to what is going on.  The mainstream media and our politicians are promising them that everything is going to be okay somehow, and that seems to be good enough for most people.  But the signs that another massive financial crisis is on the horizon are everywhere.  All you have to do is open up your eyes and look at them.

More:

We are moving into a time of extreme danger for the global economy.  There has never been a time when I have been more concerned about a new year since I began The Economic Collapse Blog back in 2009.

http://www.zerohedge.com/news/2015-01-07/10-key-events-preceded-last-financial-crisis-are-happening-again

Paying Attention?

January5

Current Economic Collapse News Brief

– Episode 556


 As far as I know this report is accurate. Some of it may be opinion? Whatever the case….we should all be aware of what is going on in our world. So, as not be caught unaware.

I know some of these things are true. In Europe the banks were looted in Greece. While a supposed “bank holiday” was in effect and the banks were “closed” some still had access in other countries. That indeed did happen.

People’s savings were also looted (in Greece) when anyone who held more than a certain amount, I think the cutoff was 100,000 euros? the bank just took the money. Yes, they did. You can be sure, IMO of course, that there are those who are privy to such dealings and get their money out before these things happen.

And recently the banks who gamble with your money essentially will not be responsible if they lose. No kidding.


Matthew 6:19 – 21 KJV

19 Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:

20 But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:

21 For where your treasure is, there will your heart be also.


Learn Something New Every Day

December22

What Was The Gold Standard?


From the article:

My normally extensive Economics Glossary does not have an entry on the gold standard, so we’ll have to look elsewhere for a definition. An extensive essay on the gold standard on The Encyclopedia of Economics and Liberty

defines the gold standard as “a commitment by participating countries to fix the prices of their domestic currencies in terms of a specified amount of gold.

http://economics.about.com/cs/money/a/gold_standard.htm

This Isn’t Good…..

June1

1 in 6 American Men Between Ages 25-54 Are Not Working

From the article:

“There are currently 61.1 million American men in their prime working years, age 25–54. A staggering 1 in 8 such men are not in the labor force at all, meaning they are neither working nor looking for work.

Funny statistics. Maybe I’m just tired. After all, it’ not yet 6 am.

An additional 2.9 million men are in the labor force but not employed (i.e., they would work if they could find a job).

So, they’re working but they aren’t working. What?

I think I have this figured out? Before the additional 2.9 million is added in…the figure is 1 in 8. When you add the people that are in the labor force but not employed you get 1 in 6. (Probably the unemployed drawing unemployment?)

The title is technically correct then.

http://www.weeklystandard.com/blogs/1-8-american-men-between-ages-25-54-are-not-working_793938.html

Effects of Texas and California Droughts…..

May25

USDA warns of sticker shock on U.S. beef as grilling season starts

From the article:

The consumer price index (CPI) for U.S. beef and veal is up almost 10 percent so far in 2014, reflecting the fastest increase in retail beef prices since the end of 2003. Prices, even after adjusting for inflation, are at record highs.

You may want to read the comments after the article…

http://news.yahoo.com/u-faces-higher-food-price-inflation-2014-led-141513395–business.html;_ylt=AwrBJR.oaX9TjhMAxynQtDMD

What a Mess

May8

Fed Chair: ‘Deficits Will Rise to Unsustainable Levels

Janet Yellen doesn’t know how to answer a question directly.  Then again, maybe she doesn’t want to.

Isn’t it funny that these people (the Fed) keep telling the public that whatever they are doing is basically not working. And that they can’t keep building the house of cards indefinitely.

If that doesn’t scare you…..it ought to. Really.

http://www.cnsnews.com/news/article/terence-p-jeffrey/fed-chair-deficits-will-rise-unsustainable-levels

Speaking of Housing…..

May2

With 1 In 3 Homes Unaffordable, Freddie Mac Prepares To Enter The Trailer Home Loan Market

From the article:

…..in my post from last October titled, Carlyle Group’s Latest Investment…Trailer Parks, it was noted that trailer park owners share the following attractive quality: Our customers have no alternative shot at homeownership, nor do they [normally] even have the credit scores and quality to seek anything better…They never leave the park they are in, and the revenues are unbelievably stable as a result.

Sure, we know from the Dark Ages that peasants on the land stay put. Same concept here. However, it gets even better than this. America’s number one hypocritical, crony capitalist, Warren Buffett is also positioned to benefit.

http://www.zerohedge.com/news/2014-05-01/1-3-homes-unaffordable-freddie-mac-prepares-enter-trailer-home-loan-market

Gold ~ Who Really Owns It?

April20

The Secret World Of Gold

From the article:

The following documentary moves from historical shipwrecks to Nazi ‘death gold’ and England’s war chest to recent years where widespread economic uncertainty has given the yellow metal a “new luster in the world of high finance.”  Valued for its permanence, beauty and scarcity, people will lie, cheat, steal and kill in the name of gold…

I Timothy 6:10

For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.

http://www.zerohedge.com/news/2014-04-19/secret-world-gold