There has been a natural disaster that has caused at least a billion dollars of damage inside the United States every single month so far this year. According to the National Oceanic and Atmospheric Administration, there have been 10 major disasters in the United States this year. On average, usually there are only about 3 major disasters a year. At this point, disasters are happening inside the United States so frequently that there seems to be no gap between them. We just seem to go from one major disaster to the next. Last year, FEMA declared an all-time record of 81 disasters inside the United States. This year, we are on pace for well over 100. We just got done dealing with Hurricane Irene, and now we are dealing with historic wildfires in Texas and unprecedented flooding up in the northeast part of the country. This has been the worst year for natural disasters in U.S. history, and we still have nearly four months left to go. Hopefully after everything that has happened this year it has become abundantly clear to all of us why we need to prepare for emergencies. The world is becoming an increasingly unstable place, and you never know what is going to happen next.
Thankfully, the U.S. has not experienced a disaster on the level of Hurricane Katrina so far this year, but what makes this year different is that we have never seen so many major disasters happen so rapidly. Since the beginning of the year we have had to deal with record-setting winter storms, nightmarish tornadoes, "once in a century" earthquakes, historic flooding all over the country, severe drought and some of the worst wildfires the U.S. has ever experienced.
Is there a reason why the United States is being hit by major disaster after major disaster or is all of this just a really unfortunately coincidence? The following are just a few of the nightmarish natural disasters that the U.S. has had to deal with so far this year.....
Texas Wildfires
At this point, the state of Texas has been on fire for nearly 300 consecutive days. This has been the worst wildfire season that Texas has ever experienced.
So far, an astounding 3.6 million acres has been burned. Vast stretches of Texas have been transformed into desolate wastelands.
Over the past week alone, the Texas Forest Service has responded to more than 180 new fires. The incredibly dry weather and the scorching temperatures have combined to turn the state of Texas into a tinderbox.
One massive wildfire near Austin, Texas has burned approximately 1,400 homes and continues to spread. The state desperately needs rain and it needs it now.
To get an idea of just how fast the fires in Texas are spreading, just watch this video.
Historic Drought
Right now, approximately 81 percent of the state of Texas is experiencing "exceptional drought" conditions. Not only has this created an ideal environment for wildfires, it is also absolutely crippling ranchers and farmers.
Farmers in Texas have lost over half of the cotton crop so far. This is likely to cause clothing prices to rise substantially in the months ahead.
Ranchers in Texas have been forced to slaughter huge numbers of cattle because the drought has made it incredibly difficult to feed them. Sadly, the number of U.S. cattle is now down to its lowest level since 1963.
You might want to stock up on beef. In the coming months the price of beef is likely to go significantly higher.
It is hard to describe just how bad things are down in Texas right now. Overall, it is estimated that the drought has caused more than $5 billion in damage to the agricultural industry so far.
But wait, there is more bad news. In fact, if things don't improve soon we could see massive problems with winter wheat. Just check out what an article recently posted on Yahoo news had to say....
The bad news does not stop there. Winter-wheat-planting season runs from September through October and rain is vital to germination. Texas and Oklahoma produce almost a third of winter wheat in the U.S. - the hard wheat used in bread products. This week, Bloomberg financial news quoted wheat economists predicting a 50% jump in winter-wheat prices. If the dearth of rain continues and there is no moisture in the soil to germinate the wheat, prices could climb higher still.
Flooding In The Northeast
We just got done with Hurricane Irene, and now Tropical Storm Lee is dumping huge amounts of rain all over the northeast United States. In fact, there has been so much rain up in Pennsylvania that more than 100,000 people were evacuated from the Wilkes-Barre area on Thursday because of rising waters on the Susquehanna River.
Rivers and creeks all over Pennsylvania, New York and New Jersey are flooding. The region desperately needs a break from rain, but it does not look like that is going to happen quite yet.
The big problem is that many of these areas had already been hit really hard by Hurricane Irene. As a result of Hurricane Irene, millions of people lost power and dozens of people lost their lives. Hurricane Irene caused the worst flooding that Vermont had experienced since 1927, and the total economic damage from Irene could reach as high as $16 billion.
Now there are three more storms in the Atlantic that we will have to keep an eye on. Hopefully Tropical Storm Nate, Tropical Storm Maria and Hurricane Katia will not cause major problems, but with the way this year has been going you never know what is going to happen.
Disturbing Earthquakes
As I have written about previously, the number of major earthquakes around the globe is significantly increasing. Back in 2001, the world had 1361 earthquakes of magnitude-5.0 or greater. This year, we are on pace to have over 2800, which would be the highest number this decade by far.
Just a couple of weeks ago, the U.S. experienced two of the weirdest earthquakes that it has seen in ages. The earthquake in Virginia that made headlines all over the nation is being called a "once a century" earthquake. The east coast very rarely sees anything like this happen.
The earthquake in Virginia was felt all the way down in Georgia and it was felt all the way up in Ottawa, Canada. It was felt as far west as Cleveland, Ohio.
In Washington D.C., the earthquake caused quite a bit of panic. Congressional buildings were evacuated and so was the Pentagon. The earthquake actually cracked the Washington Monument and it also caused significant damage to the U.S. Treasury building.
That exact same day, there was another very "unusual" earthquake in another area of the United States. A magnitude-5.3 earthquake shook the area along the Colorado/New Mexico border. That was the largest earthquake that region had experienced in more than 40 years.
Sadly, it is not just the U.S. that has been hit by significant earthquakes this year. Just check out what a recent article in the Guardian had to say about what has been going on around the globe so far this year....
6.2 or above earthquakes have hit New Zealand, the Philippines, Japan, the Fox Islands, Papua New Guinea, Mexico, Indonesia, Fiji, Thailand, Burma, Vanuatu, Argentina, Chile and Iran in the first six months of 2011.
Tornadoes
With all of the other natural disasters that we have had recently, it is easy to forget that we just went through one of the worst tornado seasons of all time.
In a recent article, I discussed the incredible damage that some of these monstrous tornadoes did....
The United States experienced a truly bizarre tornado season this year. In April, there were approximately 600 tornadoes all across America. That is the most tornadoes that have ever been recorded in a single month inside the United States. Usually, we only have about 1,200 tornadoes for the entire year.
The massive tornado outbreak in the southeast at the end of April is being called the worst natural disaster since Hurricane Katrina. One F5 tornado that ripped through the Tuscaloosa, Alabama region was reportedly a mile wide and some scientists estimated that it had winds that exceeded 260 miles an hour. By the time it passed, Tuscaloosa resembled a war zone.
The tornado that ripped through Joplin, Missouri a few months ago is being called the deadliest single tornado in more than 60 years. It ripped a path of destruction more than a mile wide and more than 6 miles long directly through the city. One British newspaper has some amazing before and after pictures of Joplin that you can view right here.
After viewing pictures such as those, what else is there to say?
Sadly, there were a lot of other major disasters this year that deserve be discussed as well.
For example, I have not even mentioned the nightmarish flooding along the Mississippi and Missouri rivers. River systems all over the central part of the country experienced "hundred year floods" this year.
So why is all of this happening? Is there a reason for all of this chaos, or has it just been one of those years?
Whatever your opinion is, what we all should be able to learn from this year is that it is imperative that we all get prepared ahead of time for emergencies.
Natural disasters can strike at any time. Whether it is a hurricane, a tornado, a flood, an earthquake, a volcano or a wildfire, if you wait until the disaster strikes to prepare then you are going to be too late.
But most natural disasters are only temporary. Even more frightening is what an economic collapse, a war, a deadly plague, a nuclear disaster, an EMP strike or a weapon of mass destruction could mean.
As we have seen during so many disasters in the past, when something really bad happens food and supplies vanish from store shelves almost immediately. If transportation is cut off, you could be on your own for an extended period of time.
Our world is becoming a highly unstable place. If someone had told you all of the crazy things that were going to happen this year, would you have believed them?
It seems like with each passing year things are getting crazier and crazier. Yes, we can all hope that things will return to "normal", but we would be foolish if we also did not take precautions.
As I have written about before, the global economy is starting to collapse, the fabric of society is coming apart and the earth itself seems to be going crazy.
We certainly do live in interesting times. The years ahead promise to be some of the most exciting in human history. But those that are unprepared could end up going through a massive amount of pain.
So please prepare while there is still time. You will not always be able to run out to Wal-Mart and buy up all of the cheap stuff that you need.
Anyone with half a brain can see the dark storm clouds gathering on the horizon. Very, very difficult times are coming, and you do not want to enter them unprepared.
Source: The Economic Collapse
Friday, September 9, 2011
Ron Paul: Border Fence Could Be Used To “Keep Us In”
Congressman warns militarized border policies could be turned inwards during economic turmoil
Paul Joseph Watson
Having made similar comments to the Alex Jones Show last week, Presidential candidate Ron Paul warned last night during the Republican debate in California that constructing a border fence could be used to keep Americans in rather than illegal aliens out in times of economic turmoil.
While Paul vehemently expressed his opposition to welfare and free health care for illegal immigrants, the Texas Congressman cautioned that erecting barbed wire fences and patrolling them with armed troops could eventually be used not to keep illegals out, but to keep Americans in during a period of civil unrest.
Saying he didn’t believe “that’s what America’s all about,” Paul warned that such measures could be used against U.S. citizens.
“Every time you think about this toughness on the border and ID cards and REAL IDs, think it’s a penalty against the American people too. I think this fence business is designed and may well be used against us and keep us in,” said Paul, adding, “In economic turmoil, the people want to leave with their capital and there’s capital controls and there’s people controls. Every time you think about the fence, think about the fences being used against us, keeping us in.”
The comments echo similar statements made recently by the Congressman, including at an at Iowa State University event, during which he told Infowars correspondent Robert Wanek that the federal government was preparing for civil unrest and martial law in the United States.
Paul was asked for his opinion on whether H.R. 645 (The National Emergency Centers Establishment Act) could lead to Americans being incarcerated in detention camps during a time of martial law.
“Yeah, that’s their goal, they’re setting up the stage for violence in this country, no doubt about it,” responded Paul.
During a follow up appearance on the Alex Jones Show, Paul said that the government was preparing for a “breakdown of law and order” which it would exploit to conduct a power grab.
The threat of invasive border policies designed to keep out illegal aliens being turned inwards against the American people is already coming to fruition.
Surveillance drone aircraft designed to patrol border areas between the United States and Mexico have now been approved for law enforcement use against the American people. The Department of Homeland Security recently gave the green light for police departments in the United States to deploy a drone helicopter that has the ability to taze suspects from above as well as carrying 12-gauge shotguns and grenade launchers.
Other airborne drones fitted with surveillance cameras that were first used to aid US Border Patrol agents are also now being used internally as a tool of law enforcement, further illustrating the prescience of Ron Paul’s warning that the domestic police state is being built on the false pretext of protecting against illegals crossing over from Mexico.
An MSNBC after show poll shows that Ron Paul trounced his opponents to win last night’s debate, receiving well over double the votes of his nearest rival Mitt Romney.
Source: Infowars
Note: Add in the 35 to 40 border patrol stations now being built on the northern border you should start to get the picture. watchman57
Paul Joseph Watson
Having made similar comments to the Alex Jones Show last week, Presidential candidate Ron Paul warned last night during the Republican debate in California that constructing a border fence could be used to keep Americans in rather than illegal aliens out in times of economic turmoil.
While Paul vehemently expressed his opposition to welfare and free health care for illegal immigrants, the Texas Congressman cautioned that erecting barbed wire fences and patrolling them with armed troops could eventually be used not to keep illegals out, but to keep Americans in during a period of civil unrest.
Saying he didn’t believe “that’s what America’s all about,” Paul warned that such measures could be used against U.S. citizens.
“Every time you think about this toughness on the border and ID cards and REAL IDs, think it’s a penalty against the American people too. I think this fence business is designed and may well be used against us and keep us in,” said Paul, adding, “In economic turmoil, the people want to leave with their capital and there’s capital controls and there’s people controls. Every time you think about the fence, think about the fences being used against us, keeping us in.”
The comments echo similar statements made recently by the Congressman, including at an at Iowa State University event, during which he told Infowars correspondent Robert Wanek that the federal government was preparing for civil unrest and martial law in the United States.
Paul was asked for his opinion on whether H.R. 645 (The National Emergency Centers Establishment Act) could lead to Americans being incarcerated in detention camps during a time of martial law.
“Yeah, that’s their goal, they’re setting up the stage for violence in this country, no doubt about it,” responded Paul.
During a follow up appearance on the Alex Jones Show, Paul said that the government was preparing for a “breakdown of law and order” which it would exploit to conduct a power grab.
The threat of invasive border policies designed to keep out illegal aliens being turned inwards against the American people is already coming to fruition.
Surveillance drone aircraft designed to patrol border areas between the United States and Mexico have now been approved for law enforcement use against the American people. The Department of Homeland Security recently gave the green light for police departments in the United States to deploy a drone helicopter that has the ability to taze suspects from above as well as carrying 12-gauge shotguns and grenade launchers.
Other airborne drones fitted with surveillance cameras that were first used to aid US Border Patrol agents are also now being used internally as a tool of law enforcement, further illustrating the prescience of Ron Paul’s warning that the domestic police state is being built on the false pretext of protecting against illegals crossing over from Mexico.
An MSNBC after show poll shows that Ron Paul trounced his opponents to win last night’s debate, receiving well over double the votes of his nearest rival Mitt Romney.
Source: Infowars
Note: Add in the 35 to 40 border patrol stations now being built on the northern border you should start to get the picture. watchman57
FDA Says You Have No Fundamental Right to Grow or Eat Healthy Food, It’s a Privilege
Kevin Hayden
Here’s a quick follow-up article to the one posted a few days ago about the Rawesome Food Club raid. Carefully read the statement issued by the Food and Drug Administration.
Note: Below, ‘Plaintiffs’ refers to James Stewart, Rawesome’s founder, Sharon Palmer, owner of Healthy Family Farms, and Victoria Bloch. The trio were charged with the production and sale of unpasteurized goat milk, goat cheese, and other products; and with “mislabeling cheese.” They were also charged with four counts of conspiracy to commit a crime.
According to the FDA…
“Plaintiffs’ assertion of a new ‘fundamental right’ to produce, obtain, and consume unpasteurized milk lacks any support in law.
“There is no ‘deeply rooted’ historical tradition of unfettered access to foods of all kinds.”
“Plaintiffs’ assertion of a ‘fundamental right to their own bodily and physical health, which includes what foods they do and do not choose to consume for themselves and their families,’ is similarly unavailing because plaintiffs do not have a fundamental right to obtain any food they wish.”
I’m gonna say something real crazy here: if the above statements released by the FDA don’t freak you out, you’re clueless and a big part of the problem. The fact that they can state that all Americans don’t have a “fundamental right to their own bodily and physical health, which includes what foods they do and do not choose to consume for themselves and their families” is downright dictatorial. If the Constitution doesn’t protect us with respect to what we choose to eat or not eat, it’s a useless document…
…useless because it seems those who rule over us have no reason to abide by it. Why have a Constitution if government agencies risk nothing by ignoring it? Instead, the FDA should be punished. Every agent involved, from the FDA down to the clueless LAPD drones who blindly accepted their orders, should be jailed. After all, they are the ones who committed a crime on that day; not James Stewart, Sharon Palmer and Victoria Bloch.
And this is why my hope is dwindling for our future. Things like this occur and no one cares. Not a blip on the radar for most. They just continue on with their daily routines, not the slightest bit aware that every day, another theft of liberty occurs, trickling away the rights our forefathers fought and died to obtain. Doesn’t that disgust you!? Doesn’t that make you sick!?
I’ve grown more and more contemptuous toward those who are ignorant and content in that ignorance. These are the true enemy of the free. These are the people who represent the ultimate problem; not the ruling elite. Because if everyone woke up, the ruling elite would no longer be rulers.
Those around you are the problem. Wake them up…or we’re doomed to serfdom…or worse.
Source: Truth is Treason
Here’s a quick follow-up article to the one posted a few days ago about the Rawesome Food Club raid. Carefully read the statement issued by the Food and Drug Administration.
Note: Below, ‘Plaintiffs’ refers to James Stewart, Rawesome’s founder, Sharon Palmer, owner of Healthy Family Farms, and Victoria Bloch. The trio were charged with the production and sale of unpasteurized goat milk, goat cheese, and other products; and with “mislabeling cheese.” They were also charged with four counts of conspiracy to commit a crime.
According to the FDA…
“Plaintiffs’ assertion of a new ‘fundamental right’ to produce, obtain, and consume unpasteurized milk lacks any support in law.
“There is no ‘deeply rooted’ historical tradition of unfettered access to foods of all kinds.”
“Plaintiffs’ assertion of a ‘fundamental right to their own bodily and physical health, which includes what foods they do and do not choose to consume for themselves and their families,’ is similarly unavailing because plaintiffs do not have a fundamental right to obtain any food they wish.”
I’m gonna say something real crazy here: if the above statements released by the FDA don’t freak you out, you’re clueless and a big part of the problem. The fact that they can state that all Americans don’t have a “fundamental right to their own bodily and physical health, which includes what foods they do and do not choose to consume for themselves and their families” is downright dictatorial. If the Constitution doesn’t protect us with respect to what we choose to eat or not eat, it’s a useless document…
…useless because it seems those who rule over us have no reason to abide by it. Why have a Constitution if government agencies risk nothing by ignoring it? Instead, the FDA should be punished. Every agent involved, from the FDA down to the clueless LAPD drones who blindly accepted their orders, should be jailed. After all, they are the ones who committed a crime on that day; not James Stewart, Sharon Palmer and Victoria Bloch.
And this is why my hope is dwindling for our future. Things like this occur and no one cares. Not a blip on the radar for most. They just continue on with their daily routines, not the slightest bit aware that every day, another theft of liberty occurs, trickling away the rights our forefathers fought and died to obtain. Doesn’t that disgust you!? Doesn’t that make you sick!?
I’ve grown more and more contemptuous toward those who are ignorant and content in that ignorance. These are the true enemy of the free. These are the people who represent the ultimate problem; not the ruling elite. Because if everyone woke up, the ruling elite would no longer be rulers.
Those around you are the problem. Wake them up…or we’re doomed to serfdom…or worse.
Source: Truth is Treason
Wednesday, September 7, 2011
New evidence of a massive oil slick near Deepwater Horizon site
By David Edwards
A California nonprofit organization dedicated to the protection and preservation of wildlife has discovered what seems to be a massive oil slick in the Gulf of Mexico near the area of the original Deepwater Horizon spill.
In a flight over the Gulf Tuesday, OnWingsOfCare.org founder and pilot Dr. Bonny Schumaker spotted an oil slick that stretched for nearly 10 miles.
Last week, two Louisiana State University men took a boat into the Gulf and returned with video evidence of large blooms of crude oil swelling up to the water’s surface where the doomed oil rig once hovered.
BP had firmly denied that the well is continuing to leak.
“None of this is true,” they said in a statement.
Watch this video from OnWingsOfCare.org, uploaded Aug. 30, 2011.
Source: RawStory
A California nonprofit organization dedicated to the protection and preservation of wildlife has discovered what seems to be a massive oil slick in the Gulf of Mexico near the area of the original Deepwater Horizon spill.
In a flight over the Gulf Tuesday, OnWingsOfCare.org founder and pilot Dr. Bonny Schumaker spotted an oil slick that stretched for nearly 10 miles.
Last week, two Louisiana State University men took a boat into the Gulf and returned with video evidence of large blooms of crude oil swelling up to the water’s surface where the doomed oil rig once hovered.
BP had firmly denied that the well is continuing to leak.
“None of this is true,” they said in a statement.
Watch this video from OnWingsOfCare.org, uploaded Aug. 30, 2011.
Source: RawStory
Giant Sucking Sound Part 2? The NAFTA Of The Pacific Will Soon Allow Millions More American Jobs To Be Shipped Overseas
The United States is negotiating one of the biggest free trade agreements in history and there is barely a peep about it on the news. Years ago, Ross Perot warned that if NAFTA was implemented there would be a "giant sucking sound" as millions of jobs left this country. It turns out that he was right. Starting on Tuesday, the next round of negotiations on the Trans-Pacific Partnership (also known as the "NAFTA of the Pacific") will begin in Chicago. We have already seen the Obama administration push hard for free trade agreements with Panama, South Korea and Colombia and the administration is making the Trans-Pacific Partnership a very high priority. Membership in the "NAFTA of the Pacific" already includes Brunei, Chile, New Zealand and Singapore. The United States, Australia, Peru, Malaysia and Vietnam are scheduled to join. Canada, Japan and South Korea are also reportedly considering membership. So once this "free trade" agreement is ratified, will we hear another "giant sucking sound" as millions more of our jobs are shipped overseas?
Look, it is not really that complicated. If you are a giant U.S. corporation, you can either make stuff here, or you can make stuff overseas where it is far, far less expensive to do so.
To greedy corporate executives, there are a lot of advantages to moving operations out of the country....
*It is legal to pay slave labor wages in many of these other countries. After all, why pay an American worker 10 or 20 times as much as a worker on the other side of the globe?
*In many of these other countries you do not have to provide any health care for workers.
*In many of these other countries there are virtually no environmental controls to worry about.
*In many of these other countries there are virtually no labor standards to worry about.
*In many of these other countries you only have to deal with a fraction of the "red tape" that you have to deal with in the United States.
By merging our economies with the economies of societies that are far different from our own, we have created a "race to the bottom" that is incredibly destructive to the U.S. economy.
In Vietnam, one dollar an hour is considered to be a very good wage.
So how do you plan to compete against that?
These "free trade agreements" are direct assaults on the big, juicy paychecks of American workers.
If you do not know about the Trans-Pacific Partnership, you need to get educated.
The following is a basic introduction to the TPP from Wikipedia....
The Trans-Pacific Partnership (TPP), also known as the Trans-Pacific Strategic Economic Partnership Agreement, is a multilateral free trade agreement that aims to further liberalise the economies of the Asia-Pacific region; specifically, Article 1.1.3 notes: “The Parties seek to support the wider liberalisation process in APEC consistent with its goals of free and open trade and investment.”[1] The original agreement between the countries of Brunei, Chile, New Zealand and Singapore was signed on June 3, 2005, and entered into force on May 28, 2006. Five additional countries – Australia, Malaysia, Peru, United States, and Vietnam – are negotiating to join the group.
Apparently, one of the goals of the TPP is to reduce all trade tariffs among member nations to zero by the year 2015. The proponents of "free trade" are absolutely thrilled.
We have all enjoyed the flood of cheap products from overseas. It is nice to pay a little bit less for things.
But these cheap prices have come at a very high cost. We are literally destroying the American economy. If you walk into just about any store today and you start turning over products, you will find that almost all of them are made out of the country.
If our middle class jobs keep getting shipped overseas, our prosperity is going to vanish. If the American people allow this to continue, the standard of living of American workers is going to continue to fall toward the level of workers in third world countries.
Arthur Stamoulis, the executive director of Citizen Trade Campaign recently had the following to say about why he is opposed to this new free trade agreement....
"They’ve shipped our jobs overseas. They’ve reduced the tax base, they’ve driven down the wages and benefits for the jobs that are left. We’ve had enough"
It is absolutely amazing that the Obama administration continues to tout more "free trade" agreements as a way to increase employment in the United States.
Sadly, nearly half the country is still going to run out and vote for the guy in the next election.
Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.
So the answer is to ship even more of our jobs overseas?
Apparently the Obama administration actually believes that we don't want those jobs. The following is what U.S. Trade Representative Ron Kirk told Tim Robertson of the Huffington Post recently....
Let's increase our competitiveness... the reality is about half of our imports, our trade deficit is because of how much oil [we import], so you take that out of the equation, you look at what percentage of it are things that frankly, we don't want to make in America, you know, cheaper products, low-skill jobs that frankly college kids that are graduating from, you know, UC Cal and Hastings [don't want], but what we do want is to capture those next generation jobs and build on our investments in our young people, our education infrastructure.
Can you believe that nonsense? He believes that there are things that "we don't want to make in America"?
Why is nobody calling for him to resign immediately?
Manufacturing jobs have traditionally been high paying jobs that can support middle class families.
But now we are losing millions of those jobs and the Obama administration simply does not care.
Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs.
America is being deindustrialized at warp speed and most Americans don't even understand what is happening.
Look, even if U.S. firms wanted to stay in the United States and try to compete, they face almost insurmountable obstacles....
*Many foreign nations deeply and directly subsidize national industries and the U.S. government lets them get away with it. That puts our industries at a vast disadvantage.
*The United States has the highest corporate tax rate in the world. That puts our corporations at a vast disadvantage.
*Many foreign nations do not require businesses to provide health care for their employees. That puts our businesses at a vast disadvantage.
*Many foreign nations impose very little regulation on businesses. That puts businesses in the United States at a vast disadvantage. In the U.S., we have some of the most restrictive regulations in the world.
The truth is that even the "next generation jobs" and the "green jobs" that Obama keeps talking about are rapidly leaving the country.
For example, the third-largest producer of solar panels in the United States, Evergreen Solar, is leaving America.
Evergreen is shutting down its factory in Massachusetts, laying off 800 American workers and moving production over to China.
A recent New York Times article explained why Evergreen is making this move....
Evergreen, in announcing its move to China, was unusually candid about its motives. Michael El-Hillow, the chief executive, said in a statement that his company had decided to close the Massachusetts factory in response to plunging prices for solar panels. World prices have fallen as much as two-thirds in the last three years — including a drop of 10 percent during last year’s fourth quarter alone.
Chinese manufacturers, Mr. El-Hillow said in the statement, have been able to push prices down sharply because they receive considerable help from the Chinese government and state-owned banks, and because manufacturing costs are generally lower in China.
We are losing the "jobs of the future" and Obama is doing nothing about it.
Last year, more than half of all the solar panels in the world were made in China.
China is absolutely killing us on the global economic stage and Obama does not even seem to think that it is a problem.
The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.
Not only that, the United States now spends more than 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.
So don't listen to any of the nonsense that Obama is spouting about creating jobs.
Not that most of the Republicans are putting forward any good ideas either.
The reality is that our politicians have lied to us. Globalism is absolutely destroying our economy.
Do you remember when the United States was the dominant manufacturer of automobiles and trucks on the globe? Well, in 2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.
We are losing ground in almost every industry that you could name. Even the "jobs of tomorrow" are mostly being created overseas.
Andy Grove, the former CEO of Intel, says that our advanced technology companies are creating far more jobs overseas than they are in the United States....
Some 250,000 Foxconn employees in southern China produce Apple's products. Apple, meanwhile, has about 25,000 employees in the U.S. That means for every Apple worker in the U.S. there are 10 people in China working on iMacs, iPods, and iPhones. The same roughly 10-to-1 relationship holds for Dell, disk-drive maker Seagate Technology (STX), and other U.S. tech companies.
When is someone going to wake up America? If we are even losing "advanced technology" jobs, then what kind of jobs are going to be left?
In 2002, the United States had a trade deficit in "advanced technology products" of $16 billion with the rest of the world. In 2010, that number skyrocketed to $82 billion.
Needless to say, that is not a good trend.
Our politicians promised us that the "global economy" would mean more jobs and more prosperity for us.
Well, that was obviously a giant lie.
Today, if you gathered together all of the unemployed people in the United States, they would make up the 68th largest country in the world.
If we allow all of this "free trade" nonsense to continue, our unemployment nightmare is going to continue to get worse and even more of our formerly great cities will end up looking like total hellholes just like Detroit does.
Sadly, virtually all of our politicians in both political parties are in favor of these "free trade" agreements. In fact, most of them are pushing these kinds of agreements as one of the "solutions" to our problems.
The U.S. economy is being dismantled and deindustrialized right in front of your eyes.
If you plan on speaking out, you better do it now because it is almost too late to stop what is being done.
It is up to you America.
Source: The Economic Collapse
Look, it is not really that complicated. If you are a giant U.S. corporation, you can either make stuff here, or you can make stuff overseas where it is far, far less expensive to do so.
To greedy corporate executives, there are a lot of advantages to moving operations out of the country....
*It is legal to pay slave labor wages in many of these other countries. After all, why pay an American worker 10 or 20 times as much as a worker on the other side of the globe?
*In many of these other countries you do not have to provide any health care for workers.
*In many of these other countries there are virtually no environmental controls to worry about.
*In many of these other countries there are virtually no labor standards to worry about.
*In many of these other countries you only have to deal with a fraction of the "red tape" that you have to deal with in the United States.
By merging our economies with the economies of societies that are far different from our own, we have created a "race to the bottom" that is incredibly destructive to the U.S. economy.
In Vietnam, one dollar an hour is considered to be a very good wage.
So how do you plan to compete against that?
These "free trade agreements" are direct assaults on the big, juicy paychecks of American workers.
If you do not know about the Trans-Pacific Partnership, you need to get educated.
The following is a basic introduction to the TPP from Wikipedia....
The Trans-Pacific Partnership (TPP), also known as the Trans-Pacific Strategic Economic Partnership Agreement, is a multilateral free trade agreement that aims to further liberalise the economies of the Asia-Pacific region; specifically, Article 1.1.3 notes: “The Parties seek to support the wider liberalisation process in APEC consistent with its goals of free and open trade and investment.”[1] The original agreement between the countries of Brunei, Chile, New Zealand and Singapore was signed on June 3, 2005, and entered into force on May 28, 2006. Five additional countries – Australia, Malaysia, Peru, United States, and Vietnam – are negotiating to join the group.
Apparently, one of the goals of the TPP is to reduce all trade tariffs among member nations to zero by the year 2015. The proponents of "free trade" are absolutely thrilled.
We have all enjoyed the flood of cheap products from overseas. It is nice to pay a little bit less for things.
But these cheap prices have come at a very high cost. We are literally destroying the American economy. If you walk into just about any store today and you start turning over products, you will find that almost all of them are made out of the country.
If our middle class jobs keep getting shipped overseas, our prosperity is going to vanish. If the American people allow this to continue, the standard of living of American workers is going to continue to fall toward the level of workers in third world countries.
Arthur Stamoulis, the executive director of Citizen Trade Campaign recently had the following to say about why he is opposed to this new free trade agreement....
"They’ve shipped our jobs overseas. They’ve reduced the tax base, they’ve driven down the wages and benefits for the jobs that are left. We’ve had enough"
It is absolutely amazing that the Obama administration continues to tout more "free trade" agreements as a way to increase employment in the United States.
Sadly, nearly half the country is still going to run out and vote for the guy in the next election.
Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.
So the answer is to ship even more of our jobs overseas?
Apparently the Obama administration actually believes that we don't want those jobs. The following is what U.S. Trade Representative Ron Kirk told Tim Robertson of the Huffington Post recently....
Let's increase our competitiveness... the reality is about half of our imports, our trade deficit is because of how much oil [we import], so you take that out of the equation, you look at what percentage of it are things that frankly, we don't want to make in America, you know, cheaper products, low-skill jobs that frankly college kids that are graduating from, you know, UC Cal and Hastings [don't want], but what we do want is to capture those next generation jobs and build on our investments in our young people, our education infrastructure.
Can you believe that nonsense? He believes that there are things that "we don't want to make in America"?
Why is nobody calling for him to resign immediately?
Manufacturing jobs have traditionally been high paying jobs that can support middle class families.
But now we are losing millions of those jobs and the Obama administration simply does not care.
Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs.
America is being deindustrialized at warp speed and most Americans don't even understand what is happening.
Look, even if U.S. firms wanted to stay in the United States and try to compete, they face almost insurmountable obstacles....
*Many foreign nations deeply and directly subsidize national industries and the U.S. government lets them get away with it. That puts our industries at a vast disadvantage.
*The United States has the highest corporate tax rate in the world. That puts our corporations at a vast disadvantage.
*Many foreign nations do not require businesses to provide health care for their employees. That puts our businesses at a vast disadvantage.
*Many foreign nations impose very little regulation on businesses. That puts businesses in the United States at a vast disadvantage. In the U.S., we have some of the most restrictive regulations in the world.
The truth is that even the "next generation jobs" and the "green jobs" that Obama keeps talking about are rapidly leaving the country.
For example, the third-largest producer of solar panels in the United States, Evergreen Solar, is leaving America.
Evergreen is shutting down its factory in Massachusetts, laying off 800 American workers and moving production over to China.
A recent New York Times article explained why Evergreen is making this move....
Evergreen, in announcing its move to China, was unusually candid about its motives. Michael El-Hillow, the chief executive, said in a statement that his company had decided to close the Massachusetts factory in response to plunging prices for solar panels. World prices have fallen as much as two-thirds in the last three years — including a drop of 10 percent during last year’s fourth quarter alone.
Chinese manufacturers, Mr. El-Hillow said in the statement, have been able to push prices down sharply because they receive considerable help from the Chinese government and state-owned banks, and because manufacturing costs are generally lower in China.
We are losing the "jobs of the future" and Obama is doing nothing about it.
Last year, more than half of all the solar panels in the world were made in China.
China is absolutely killing us on the global economic stage and Obama does not even seem to think that it is a problem.
The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.
Not only that, the United States now spends more than 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.
So don't listen to any of the nonsense that Obama is spouting about creating jobs.
Not that most of the Republicans are putting forward any good ideas either.
The reality is that our politicians have lied to us. Globalism is absolutely destroying our economy.
Do you remember when the United States was the dominant manufacturer of automobiles and trucks on the globe? Well, in 2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.
We are losing ground in almost every industry that you could name. Even the "jobs of tomorrow" are mostly being created overseas.
Andy Grove, the former CEO of Intel, says that our advanced technology companies are creating far more jobs overseas than they are in the United States....
Some 250,000 Foxconn employees in southern China produce Apple's products. Apple, meanwhile, has about 25,000 employees in the U.S. That means for every Apple worker in the U.S. there are 10 people in China working on iMacs, iPods, and iPhones. The same roughly 10-to-1 relationship holds for Dell, disk-drive maker Seagate Technology (STX), and other U.S. tech companies.
When is someone going to wake up America? If we are even losing "advanced technology" jobs, then what kind of jobs are going to be left?
In 2002, the United States had a trade deficit in "advanced technology products" of $16 billion with the rest of the world. In 2010, that number skyrocketed to $82 billion.
Needless to say, that is not a good trend.
Our politicians promised us that the "global economy" would mean more jobs and more prosperity for us.
Well, that was obviously a giant lie.
Today, if you gathered together all of the unemployed people in the United States, they would make up the 68th largest country in the world.
If we allow all of this "free trade" nonsense to continue, our unemployment nightmare is going to continue to get worse and even more of our formerly great cities will end up looking like total hellholes just like Detroit does.
Sadly, virtually all of our politicians in both political parties are in favor of these "free trade" agreements. In fact, most of them are pushing these kinds of agreements as one of the "solutions" to our problems.
The U.S. economy is being dismantled and deindustrialized right in front of your eyes.
If you plan on speaking out, you better do it now because it is almost too late to stop what is being done.
It is up to you America.
Source: The Economic Collapse
20 Quotes From European Leaders That Prove That They Know That The Financial System In Europe Is Doomed
The financial crisis in Europe has become so severe that it has put the future of the euro, and indeed the future of the EU itself, in doubt. If the financial system in Europe collapses, it is going to plunge the entire globe into chaos. The EU has a larger economy and a larger population than the United States does. The EU also has more Fortune 500 companies that the United States does. If the financial system in Europe breaks down, we are all doomed. An economic collapse in Europe would unleash a financial tsunami that would sweep across the globe. As I wrote about yesterday, the nightmarish sovereign debt crisis in Europe could potentially bring about the end of the euro. The future of the monetary union in Europe is being questioned all over the continent. Without massive bailouts, there are at least 5 or 6 nations in Europe that will likely soon default. The political will for continued bailouts is rapidly failing in northern Europe, so something needs to be done quickly to avert disaster. Unfortunately, as anyone that has ever lived in Europe knows, things tend to move very, very slowly in Europe.
If the bailouts end and Europe is not able to come up with another plan before then, mass chaos is going to unleashed. Most major European banks are massively exposed to European sovereign debt, and most of them are also very, very highly leveraged. If we see nations such as Greece, Portugal and Italy start to default, we could have quite a few major European banks go down in rapid succession. That could be the "tipping point" that sets off mass financial panic around the globe.
Of course the governments of Europe would probably step in to bail out many of those banks, but when the U.S. did something similar back in 2008 that didn't prevent the world from plunging into a horrible worldwide recession.
Right now, the way that the monetary union is structured in Europe simply does not work. Countries that are deep in debt have no flexibility in dealing with those debts, and citizens of wealthy countries such as Germany are becoming deeply resentful that they must keep shoveling money into the financial black holes of southern Europe.
These bailouts cannot go on indefinitely. Political and financial authorities all over Europe know this and they also know that Europe is rapidly heading toward a day of reckoning.
The quotes that you are about to read are absolutely shocking. In Europe they openly admit that the financial system is dying, that the euro is in danger of not surviving and that the EU does not work in its present form.
The following are 20 quotes from European leaders that prove that they know that the financial system in Europe is doomed....
#1 Polish finance minister Jacek Rostowski: "European elites, including German elites, must decide if they want the euro to survive - even at a high price - or not. If not, we should prepare for a controlled dismantling of the currency zone."
#2 Stephane Deo, Paul Donovan, and Larry Hatheway of Swiss banking giant UBS: "Under the current structure and with the current membership, the euro does not work. Either the current structure will have to change, or the current membership will have to change."
#3 EU President Herman Van Rompuy: "The euro has never had the infrastructure that it requires."
#4 German President Christian Wulff: "I regard the huge buy-up of bonds of individual states by the ECB as legally and politically questionable. Article 123 of the Treaty on the EU’s workings prohibits the ECB from directly purchasing debt instruments, in order to safeguard the central bank’s independence"
#5 Deutsche Bank CEO Josef Ackerman: "It is an open secret that numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels."
#6 ECB President Jean-Claude Trichet: "We are experiencing very demanding times"
#7 International Monetary Fund Managing Director Christine Lagarde: "Developments this summer have indicated we are in a dangerous new phase"
#8 Prince Hermann Otto zu Solms-Hohensolms-Lich, the Bundestag's Deputy President: "We must consider whether it would not be better for the currency union and for Greece itself to go for debt restructuring and an exit from the euro"
#9 Alastair Newton, a strategist for Nomura Securities in London: "We believe that we are just about to enter a critical period for the eurozone and that the threat of some sort of break-up between now and year-end is greater than it has been at any time since the start of the crisis"
#10 Former German Chancellor Gerhard Schroeder: "The current crisis makes it relentlessly clear that we cannot have a common currency zone without a common fiscal, economic and social policy"
#11 Bank of England Governor Mervyn King: "Dealing with a banking crisis was difficult enough, but at least there were public-sector balance sheets on to which the problems could be moved. Once you move into sovereign debt, there is no answer; there's no backstop."
#12 George Soros: "We are on the verge of an economic collapse which starts, let's say, in Greece. The financial system remains extremely vulnerable."
#13 German Chancellor Angela Merkel: "The current crisis facing the euro is the biggest test Europe has faced for decades, even since the Treaty of Rome was signed in 1957."
#14 Stephane Deo, Paul Donovan, and Larry Hatheway of Swiss banking giant UBS: "Member states would be economically better off if they had never joined. European monetary union was generally mis-sold to the population of the Europe."
#15 Professor Giacomo Vaciago of Milan's Catholic University: "It's clear that the euro has virtually failed over the last ten years, even if you are not supposed to say that."
#16 EU President Herman Van Rompuy: "We’re in a survival crisis. We all have to work together in order to survive with the euro zone, because if we don’t survive with the euro zone we will not survive with the European Union."
#17 German Chancellor Angela Merkel: "If the euro fails, then Europe fails."
#18 Deutsche Bank CEO Josef Ackerman: "All this reminds one of the autumn of 2008"
#19 International Monetary Fund Managing Director Christine Lagarde: "There has been a clear crisis of confidence that has seriously aggravated the situation. Measures need to be taken to ensure that this vicious circle is broken"
#20 German Chancellor Angela Merkel: "The euro is in danger ... If we don't deal with this danger, then the consequences for us in Europe are incalculable."
Most of the individuals quoted above desperately want to save the euro. They are not going to go down without a fight. The overwhelming consensus among the political and financial elite in Europe is that increased European integration in Europe is the answer.
For example, EU President Herman Van Rompuy is very clear about what he believes the final result of this crisis will be....
"This crisis in the euro zone will strengthen European integration. That is my firm belief."
Many of the elite in Europe are now openly talking about the need for a "United States of Europe". Just consider what former German chancellor Gerhard Schroeder recently had to say....
"From the European Commission, we should make a government which would be supervised by the European Parliament. And that means the United States of Europe."
But as mentioned above, things in Europe tend to move very, very slowly. The debt crisis in Europe is rapidly coming to a breaking point, and it is very doubtful that Europe will be able to move fast enough to head it off.
What we may actually see is at least a partial collapse of the euro and a massive financial crisis in Europe first, and then much deeper European integration being sold by authorities in Europe as "the solution" to the crisis.
This would be yet another example of the classic problem/reaction/solution paradigm.
The "problem" would be a horrible financial crisis and economic downturn in Europe.
The "reaction" would be a cry from the European public for someone to "fix" things and return things back to "normal".
The "solution" would be a "United States of Europe" with much deeper economic and political integration which is something that many among the political and financial elite of Europe have wanted for a long, long time.
Right now, the people of Europe are very much opposed to deeper economic and political integration. For example, 76 percent of Germans says that they have little or no faith in the euro and one recent poll found that German voters are against the introduction of "Eurobonds" by about a 5 to 1 margin.
It looks like it may take a major crisis in order to get the people of Europe to change their minds.
Unfortunately, it looks like that may be exactly what is going to happen.
Source: The Economic Collapse
If the bailouts end and Europe is not able to come up with another plan before then, mass chaos is going to unleashed. Most major European banks are massively exposed to European sovereign debt, and most of them are also very, very highly leveraged. If we see nations such as Greece, Portugal and Italy start to default, we could have quite a few major European banks go down in rapid succession. That could be the "tipping point" that sets off mass financial panic around the globe.
Of course the governments of Europe would probably step in to bail out many of those banks, but when the U.S. did something similar back in 2008 that didn't prevent the world from plunging into a horrible worldwide recession.
Right now, the way that the monetary union is structured in Europe simply does not work. Countries that are deep in debt have no flexibility in dealing with those debts, and citizens of wealthy countries such as Germany are becoming deeply resentful that they must keep shoveling money into the financial black holes of southern Europe.
These bailouts cannot go on indefinitely. Political and financial authorities all over Europe know this and they also know that Europe is rapidly heading toward a day of reckoning.
The quotes that you are about to read are absolutely shocking. In Europe they openly admit that the financial system is dying, that the euro is in danger of not surviving and that the EU does not work in its present form.
The following are 20 quotes from European leaders that prove that they know that the financial system in Europe is doomed....
#1 Polish finance minister Jacek Rostowski: "European elites, including German elites, must decide if they want the euro to survive - even at a high price - or not. If not, we should prepare for a controlled dismantling of the currency zone."
#2 Stephane Deo, Paul Donovan, and Larry Hatheway of Swiss banking giant UBS: "Under the current structure and with the current membership, the euro does not work. Either the current structure will have to change, or the current membership will have to change."
#3 EU President Herman Van Rompuy: "The euro has never had the infrastructure that it requires."
#4 German President Christian Wulff: "I regard the huge buy-up of bonds of individual states by the ECB as legally and politically questionable. Article 123 of the Treaty on the EU’s workings prohibits the ECB from directly purchasing debt instruments, in order to safeguard the central bank’s independence"
#5 Deutsche Bank CEO Josef Ackerman: "It is an open secret that numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels."
#6 ECB President Jean-Claude Trichet: "We are experiencing very demanding times"
#7 International Monetary Fund Managing Director Christine Lagarde: "Developments this summer have indicated we are in a dangerous new phase"
#8 Prince Hermann Otto zu Solms-Hohensolms-Lich, the Bundestag's Deputy President: "We must consider whether it would not be better for the currency union and for Greece itself to go for debt restructuring and an exit from the euro"
#9 Alastair Newton, a strategist for Nomura Securities in London: "We believe that we are just about to enter a critical period for the eurozone and that the threat of some sort of break-up between now and year-end is greater than it has been at any time since the start of the crisis"
#10 Former German Chancellor Gerhard Schroeder: "The current crisis makes it relentlessly clear that we cannot have a common currency zone without a common fiscal, economic and social policy"
#11 Bank of England Governor Mervyn King: "Dealing with a banking crisis was difficult enough, but at least there were public-sector balance sheets on to which the problems could be moved. Once you move into sovereign debt, there is no answer; there's no backstop."
#12 George Soros: "We are on the verge of an economic collapse which starts, let's say, in Greece. The financial system remains extremely vulnerable."
#13 German Chancellor Angela Merkel: "The current crisis facing the euro is the biggest test Europe has faced for decades, even since the Treaty of Rome was signed in 1957."
#14 Stephane Deo, Paul Donovan, and Larry Hatheway of Swiss banking giant UBS: "Member states would be economically better off if they had never joined. European monetary union was generally mis-sold to the population of the Europe."
#15 Professor Giacomo Vaciago of Milan's Catholic University: "It's clear that the euro has virtually failed over the last ten years, even if you are not supposed to say that."
#16 EU President Herman Van Rompuy: "We’re in a survival crisis. We all have to work together in order to survive with the euro zone, because if we don’t survive with the euro zone we will not survive with the European Union."
#17 German Chancellor Angela Merkel: "If the euro fails, then Europe fails."
#18 Deutsche Bank CEO Josef Ackerman: "All this reminds one of the autumn of 2008"
#19 International Monetary Fund Managing Director Christine Lagarde: "There has been a clear crisis of confidence that has seriously aggravated the situation. Measures need to be taken to ensure that this vicious circle is broken"
#20 German Chancellor Angela Merkel: "The euro is in danger ... If we don't deal with this danger, then the consequences for us in Europe are incalculable."
Most of the individuals quoted above desperately want to save the euro. They are not going to go down without a fight. The overwhelming consensus among the political and financial elite in Europe is that increased European integration in Europe is the answer.
For example, EU President Herman Van Rompuy is very clear about what he believes the final result of this crisis will be....
"This crisis in the euro zone will strengthen European integration. That is my firm belief."
Many of the elite in Europe are now openly talking about the need for a "United States of Europe". Just consider what former German chancellor Gerhard Schroeder recently had to say....
"From the European Commission, we should make a government which would be supervised by the European Parliament. And that means the United States of Europe."
But as mentioned above, things in Europe tend to move very, very slowly. The debt crisis in Europe is rapidly coming to a breaking point, and it is very doubtful that Europe will be able to move fast enough to head it off.
What we may actually see is at least a partial collapse of the euro and a massive financial crisis in Europe first, and then much deeper European integration being sold by authorities in Europe as "the solution" to the crisis.
This would be yet another example of the classic problem/reaction/solution paradigm.
The "problem" would be a horrible financial crisis and economic downturn in Europe.
The "reaction" would be a cry from the European public for someone to "fix" things and return things back to "normal".
The "solution" would be a "United States of Europe" with much deeper economic and political integration which is something that many among the political and financial elite of Europe have wanted for a long, long time.
Right now, the people of Europe are very much opposed to deeper economic and political integration. For example, 76 percent of Germans says that they have little or no faith in the euro and one recent poll found that German voters are against the introduction of "Eurobonds" by about a 5 to 1 margin.
It looks like it may take a major crisis in order to get the people of Europe to change their minds.
Unfortunately, it looks like that may be exactly what is going to happen.
Source: The Economic Collapse
Saturday, September 3, 2011
You Have No Idea How Really Wild This Is Going To Get
Mac Slavo
Economist Bob Chapman, of The International Forecaster, has long advocated precious metals as one of the few wealth preservation assets against a wave of destruction that will wipe out everything from stocks, to bonds, to the US dollar itself. In his latest interview with the Corbett Report, Chapman shares his views on what to expect over the next several months:
The Federal Reserve knows that they can’t solve the problem. They have instructions to carry this thing out as far as they can, or until the powers behind government decide to pull the plug, so to speak.
One of the things you have to notice here, and this is pure psychological warfare, and if you’re not trained in it you don’t know what these people are up to…I was trained in it…Whenever you see an attack on silver and then gold the way it was you know that there’s going to be some dreadful things going up. Those were two vicious in-your-face attacks that a high school student could have identified as manipulation…
September and October are going to be dreadful. And that’s true, they are going to be dreadful. That’s the way I stack it up. And, of course, if there’s no QE3 equivalent the whole thing’s going down the chute.
There’ll be tremendous pressure on the stock market. They’ll try to hold it up. But it’s going to go down. How deeply it’s hard to say, but somewhere on the DOW between 8500 and 10,500.
In addition to stocks, Chapman warns about massive manipulations in the US bond markets through organizations like the New York Federal Reserve and Merrill Lynch, as well as a continued decline in real estate:
…by the looks of it it’s [the housing market] not going to bottom out in June of 2012…It will probably take another five years. So, if you’re thinking about buying anything, don’t. Because the pressure will be to the downside on prices. The inventory is going to be somewhere – now hold on to your seat – somewhere around 8 million homes. The inventory now is about 3.5 million. That’s where we’re headed now.
As we’ve opined in End of the Real Estate Crash?, this means real estate will collapse at least another 20% to 30% from here – perhaps even more.
We warn our readers, however, that any real estate purchases should be considered a long-term hold. Don’t plan on flipping, or even selling, for years.
Japan’s real estate boom, like ours, was predicated on cheap money and finite land. Inflation adjusted, the decline over the last 20 years has been roughly 75%. That’s a big number. Humanity’s cognitive dissonance response, especially in the Realtor community, will ensure that most analysts and experts avoid telling us how bad it can really get.
While we don’t have a crystal ball, we do have history books and if the real estate markets of today are anything like that of the Great Depression, then we have much farther to go.
According to analysis performed Martin Armstrong of Princeton Economics, during the Great Depression real estate prices in the farming sector fell from $2 per acre to 30 cents per acre. That’s a whopping 85% drop.
Most Americans have no idea this is coming, but it is simply impossible to ignore the (real) data, especially the forward looking data.
Even mainstream economists and financial sector insiders are now saying that we have serious problems ahead.
“I think we are heading for a market shock in September or October that will match anything we have ever seen before.”
-Senior Credit Banker at a major European Bank
source: Market crash ‘could hit within weeks’, warn bankers
“Here we go again…solving a debt problem with more debt has not solved the underlying problem. …Can the US continue to depreciate the world’s base currency?… European banks need $1 trillion of capital (bailout)… China’s growth is probably not sustainable… Solving a debt problem (ours) with more debt doesn’t work”
-Goldman Sachs Report Prepared for Hedge Fund Clients
source: The Daily Crux
“We are in a worse situation than we were in 2008. This time around we have fiscal austerity and banks that are being cautious. The hard economic data (which has come out recently) is all relevant to July while the soft data which has come out is for the future and that’s all moving in the wrong direction… The market may rally but unless the real economic data moves with asset prices, then eventually asset prices are going to go”
-Economist Nouriel Roubini
source: We Are in ‘Worse Situation’ Than in 2008: Roubini
The next phase of this collapse may very well be upon us. As Bob Chapman points out in his article Fearing An Even Worse Inflationary Depression Ahead, there’s just not enough money out there to stop this out of control freight train.
Print-and-Pray hasn’t worked, but governments and central banks will continue the same policies until the entire system seizes up:
The inflationary depression is still with us and has been for 31 months and it is going to get worse in the month’s ahead. We are again looking at a $1.7 trillion deficit.
We figure if no stimulus comes from Congress the Fed will have to create and monetize some $2.3 trillion more dollars, which can only mean worse inflation. We called QE 2 and stimulus 2, as well as QE 3 a year ago May. The Fed has not said anything about the $16.1 trillion they lent out, nor why none of it has been paid back. What about the $1.2 trillion that we ladled out to Wall Street and banking? It could be that QE 3 if announced in September could counter a falling stock market, at least temporarily. The timing could be perfect if even by accident. Then again, all markets and currencies are under pressure versus silver and gold. We could see gold shortly at $2,000 to $2,200 with silver at $60 to $70. By March gold could be $3,000 to $3,200 and silver $100.00. This may seem implausible to you, but we have been correct 98% of the time for 22-1/2 years.
September and the final quarter of 2011 is going to be a wild and wooly affair. If you are not yet into gold and silver related assets you had best start getting involved. If you own them buy more. You have no idea how really wild this is going to get.
The central planners have managed to keep the ship from sinking and the band playing for almost three years. They may finally be running out of stop gaps.
Source: SHTF Plan
Economist Bob Chapman, of The International Forecaster, has long advocated precious metals as one of the few wealth preservation assets against a wave of destruction that will wipe out everything from stocks, to bonds, to the US dollar itself. In his latest interview with the Corbett Report, Chapman shares his views on what to expect over the next several months:
The Federal Reserve knows that they can’t solve the problem. They have instructions to carry this thing out as far as they can, or until the powers behind government decide to pull the plug, so to speak.
One of the things you have to notice here, and this is pure psychological warfare, and if you’re not trained in it you don’t know what these people are up to…I was trained in it…Whenever you see an attack on silver and then gold the way it was you know that there’s going to be some dreadful things going up. Those were two vicious in-your-face attacks that a high school student could have identified as manipulation…
September and October are going to be dreadful. And that’s true, they are going to be dreadful. That’s the way I stack it up. And, of course, if there’s no QE3 equivalent the whole thing’s going down the chute.
There’ll be tremendous pressure on the stock market. They’ll try to hold it up. But it’s going to go down. How deeply it’s hard to say, but somewhere on the DOW between 8500 and 10,500.
In addition to stocks, Chapman warns about massive manipulations in the US bond markets through organizations like the New York Federal Reserve and Merrill Lynch, as well as a continued decline in real estate:
…by the looks of it it’s [the housing market] not going to bottom out in June of 2012…It will probably take another five years. So, if you’re thinking about buying anything, don’t. Because the pressure will be to the downside on prices. The inventory is going to be somewhere – now hold on to your seat – somewhere around 8 million homes. The inventory now is about 3.5 million. That’s where we’re headed now.
As we’ve opined in End of the Real Estate Crash?, this means real estate will collapse at least another 20% to 30% from here – perhaps even more.
We warn our readers, however, that any real estate purchases should be considered a long-term hold. Don’t plan on flipping, or even selling, for years.
Japan’s real estate boom, like ours, was predicated on cheap money and finite land. Inflation adjusted, the decline over the last 20 years has been roughly 75%. That’s a big number. Humanity’s cognitive dissonance response, especially in the Realtor community, will ensure that most analysts and experts avoid telling us how bad it can really get.
While we don’t have a crystal ball, we do have history books and if the real estate markets of today are anything like that of the Great Depression, then we have much farther to go.
According to analysis performed Martin Armstrong of Princeton Economics, during the Great Depression real estate prices in the farming sector fell from $2 per acre to 30 cents per acre. That’s a whopping 85% drop.
Most Americans have no idea this is coming, but it is simply impossible to ignore the (real) data, especially the forward looking data.
Even mainstream economists and financial sector insiders are now saying that we have serious problems ahead.
“I think we are heading for a market shock in September or October that will match anything we have ever seen before.”
-Senior Credit Banker at a major European Bank
source: Market crash ‘could hit within weeks’, warn bankers
“Here we go again…solving a debt problem with more debt has not solved the underlying problem. …Can the US continue to depreciate the world’s base currency?… European banks need $1 trillion of capital (bailout)… China’s growth is probably not sustainable… Solving a debt problem (ours) with more debt doesn’t work”
-Goldman Sachs Report Prepared for Hedge Fund Clients
source: The Daily Crux
“We are in a worse situation than we were in 2008. This time around we have fiscal austerity and banks that are being cautious. The hard economic data (which has come out recently) is all relevant to July while the soft data which has come out is for the future and that’s all moving in the wrong direction… The market may rally but unless the real economic data moves with asset prices, then eventually asset prices are going to go”
-Economist Nouriel Roubini
source: We Are in ‘Worse Situation’ Than in 2008: Roubini
The next phase of this collapse may very well be upon us. As Bob Chapman points out in his article Fearing An Even Worse Inflationary Depression Ahead, there’s just not enough money out there to stop this out of control freight train.
Print-and-Pray hasn’t worked, but governments and central banks will continue the same policies until the entire system seizes up:
The inflationary depression is still with us and has been for 31 months and it is going to get worse in the month’s ahead. We are again looking at a $1.7 trillion deficit.
We figure if no stimulus comes from Congress the Fed will have to create and monetize some $2.3 trillion more dollars, which can only mean worse inflation. We called QE 2 and stimulus 2, as well as QE 3 a year ago May. The Fed has not said anything about the $16.1 trillion they lent out, nor why none of it has been paid back. What about the $1.2 trillion that we ladled out to Wall Street and banking? It could be that QE 3 if announced in September could counter a falling stock market, at least temporarily. The timing could be perfect if even by accident. Then again, all markets and currencies are under pressure versus silver and gold. We could see gold shortly at $2,000 to $2,200 with silver at $60 to $70. By March gold could be $3,000 to $3,200 and silver $100.00. This may seem implausible to you, but we have been correct 98% of the time for 22-1/2 years.
September and the final quarter of 2011 is going to be a wild and wooly affair. If you are not yet into gold and silver related assets you had best start getting involved. If you own them buy more. You have no idea how really wild this is going to get.
The central planners have managed to keep the ship from sinking and the band playing for almost three years. They may finally be running out of stop gaps.
Source: SHTF Plan
Subscribe to:
Posts (Atom)