China Profit Downgrades Signal Worst Yet to Come
Chinese corporate profits show no sign of a second-half recovery as analysts cut earnings estimates in September by the most in 2 1/2 years. The Chinese economy started losing steam in 2011 with slowing sales, swelling inventories, and sluggish bill payments. Needless to say, as a producer, if China is going down, then it is reflection to the consumers nations like the US and Europe.
China Says No to US Treasuries
Japan, with a debt/GDP ratio will above 200%, prepares to become the largest foreign holder of U.S. debt as China dropped its purchases by $125 billion since last year. The fact that one economically weak nation is buying the debt of another speaks volumes. This paper shell game is going to end and it is going to end very badly for those who are not into hard assets.
No Economic Crisis Was Ever Caused by Stable Money
When there is a real money standard, whether gold or whatever, money printing is held in line that resembles reality. Without a real standard, money printing can resemble greed, need, and ambitions of those printing the money. Fear and war can cause economic crisis if there is, or is not, a real money standard; however, without this standard, economic crisis are more susceptible because there is no standard based on a physical reality.
ETF Costs and Liabilities
ETFs have a high degree of counter party risk that potentially makes the actual ETF worthless. Because of this, more and more people are migrating to physical allocated gold for more safety; however, there are growing cases where the so-called allocated gold is missing; therefore, if you do not have it in your hand, then you do not own it.
Justice Department Seeks Dismissal of Fast and Furious Lawsuit
The Justice Department has sought dismissal of a lawsuit by the House committee demanding that records be produced about the illegal “Fast and Furious” operation that allowed hundreds to die. The documents sought will, no doubt, show that this was not a sting operation to capture Mexican drug lords but; instead, to incriminate US gun dealers, as scapegoats, to end the 2nd amendment of the US Constitution. In short, Holder apparently believes that it is acceptable to be a party to mass murder and not be held accountable for it.
Ordered DNR – A Preview of Obamacare In Action
Another feature of socialized medicine is that doctors can subject elderly patients to Do Not Resuscitate, or DNR, orders without consulting family members – as was the case in the UK with a 79 year old man who died because his doctor arbitrarily chose to implement DNR without consulting the family. Think of this as another potential Obamacare feature coming to a hospital near you.
Vote Yes On Proposition 37
I rarely agree with Bill Maher; however, this powerful video tells Californians to vote yes on proposition 37 which will force clear GMO labeling on food products. In short, you have the right to know what is in your food.
From Frosted Flakes to Cocoa Puffs, many major breakfast cereals contain GMO’s. Only Nature’s Path appears to be the only known breakfast cereal that contains no GMO’s.
Debate (2nd Presidential)
With no knock out punch, a slight advantage goes to Obama, who obviously spent far less time on the golf course than normal. The big loser in this debate was the biased moderator Candy Crowley, and by extension, the media, as she cut off Romney repeatedly and throwing the floor to Obama. It was not a town hall debate, it was Candy Land.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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