Mexico Bans Large Cash Transactions
Mexico has joined other nations on the war on cash. In about 90 days, cash transaction over half million pesos, or about $39,000, will be illegal. Violation of this law caries a penalty of five years in prison and Mexican prisons are not the country club like prisons in the US.
Is Euro Zone Really Back ‘On Track’?
French President Hollande seems to think that the euro zone is “on track” to solving its crisis during yet another summit. Greece on fire, Spain and Italy in fiscal turmoil and Germany being asked to bail out everyone. Yes, the EU is back on track; however, the track leads right over the fiscal cliff.
The Political Black Swan
Just imagine a Bush vs. Gore tie fiasco coming at the same time as a major fiscal cliff. Things are gearing up for such a scenario in this election where the political wheels will be frozen solid as people fight for the position of head puppet. On top of that, add the tax increases and the mandatory government spending cuts and one can easily imagine absolute chaos.
A recent survey finds that 40% of Americans have less than $500 in savings. Not all respondents were poor. In fact, some had big houses, big mortgages or 401(k)s; however, they did not have five Benjamin’s to rub together right now. One should have an emergency fund set aside to address unforeseen circumstances and $500 just does not cut it. Of course, loss of jobs due to lack of demand is not unforeseen.
Problem is Demand
First IBM, then Intel, and now Google. The quarterly statements from these three, and others, are showing that this economy, despite the BS put forth by the mainstream media and politicians, is beginning to grind to a halt. The only real counterbalance to this negative economic activity is the the fact that the FED is printing money out of thin air. And that will only last so long before the whole house of cards crashes down.
Congress Orders FEMA to Plan for Mass Fatalities
HR 6566 would amend the Homeland Security Act to mandate that FEMA immediately begin conducting “mass fatality planning” in preparation for a major event or series of events that may kill off untold numbers of people. The bill would set up a FEMA dictator with the power to control how local communities, private businesses, nonprofit organizations, religious organizations, and even individuals prepare for and respond to a mass fatality event. What do they know folks?
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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