Credit Crunch in Europe
A collapse in demand for credit is underway in Europe with bank lending down sharply. There are even calls for the European Central Bank to stop obsessing about fiscal issues and start up the printing presses. These calls come, despite Japan having 20+ years of a various monetary and fiscal stimulus programs with nothing, but debt, to show for it. In short, the banks in the Euro-zone are getting more desperate.
Rise in Household Debt
After 14 consecutive quarters, American households are now taking on more debt than they are shedding. The proportion of household debt to personal income has fallen to its lowest level since the mid-2000s. Americans have slashed their credit card debt to $855 billion today from more than $1 trillion in 2008. It could be a sign of recovery; however, it may be more of a sign of desperation to pay for healthcare, transportation, food and housing as a result of inflation and governmental policies.
12 Cities Going Broke
Here are a few…
1. Le Center, Minnesota
2. Strafford County, New Hampshire
3. Harrison and Salem, New Jersey
4. Central falls, Rhode Island
5. Jefferson County, Alabama
Is Romney a Threat to the Gold Price?
If Romney were to win the election, some have speculated that he might tackle unsustainable government spending. Well folks, Romney and Obama may differ on some items; however, the ones that they both agree on spell disaster for the US Dollar. With that in mind, after preparing, keep stacking physical.
Historical Treasures Stolen from National Archives
Like the $100 million plus in art stolen from a museum in the Netherlands, historical artifacts, from the Wright Brothers airplane patent to the the bombing maps for the nuclear attack on Japan, have been stolen from the National Archives. As more historical treasures suddenly go missing, one has to wonder if governments are saving national treasures, like the fictional scene in the movie 2012, because of an untold disaster on the horizon.
Cyber-security Education Begins in Kindergarten
Janet Incompetano, in a Department of Homeland Insecurity blog, is working to develop the next generation of Hitler youth err.. leaders in cyber-security beginning in kindergarten. Hey Janet, go play with your girlfriends and leave the children alone you pervert!
Saudi King Urges UN Action Against Religious Insults
The Saudi King, whose kingdom has most likely been helping in aiding the Syrian Rebels obtain advanced weaponry, is still following the Obama lie about the You Tube video that did NOT cause the attack in Libya. At any rate, this Mideast puppet king is demanding that the UN condemn any insults on monotheistic religions. No doubt, he will want Christianity, and Judaism, excluded from the list of monotheistic religions.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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