Greek Parliament Approves Austerity
Riot Police greeted rioters as the Greek Parliament narrowly approved a new austerity package that will be the final nail in the Greek economy’s coffin. Parliament adopted the 18.5 billion euro budget as 70,000 protestors massed outside throwing fire bombs and rocks at the police. At some point, the police are going come to the realization that they, and their families, are in mortal danger and that is when the Greek politicians, and their banker buddies, will be introduced to tall trees and a short rope.
German Exports Drop
German exports dropped more than expected in September amid lower demand from the country’s euro partners. The 2.5% decline more than wiped out the 2.3% increase reported in August; thus, things are beginning to get worse for the EU’s economic engine.
Gold Holds the Glitter
Despite attempts to get the people of India to stop buying physical gold, there is more buying. Gold prices may fluctuate, but India’s love for the yellow metal does not seem to diminish. They may be buying lower carrot gold, because of the price; however, they are buying and they are buying big time.
Looters Versus Guns
Citizens in the New York area, may finally be waking up to the fact, in the wake of widespread lootings and how people with guns are protecting themselves when police are nowhere to be found, that Mayor Bloomberg is full of shit with his war on guns. In addition, FEMA, in New York and New Jersey, actually closed because of bad weather. Of course, it was never FEMA’s intent, to ever protect or serve the people. Expect FEMA to be closed on Veterans day as well. To make things worse, Obama is openly supporting the UN’s attempt to take away private gun ownership now.
Now that the election is over, more people are beginning to look at the “Fiscal Cliff.” True to form, officials at Fitch, waiting after the election, are warning that if the US does not stop running deficits, then it will be downgraded. In addition, many top companies are preparing for the “Fiscal Cliff” should the economy go into a tailspin.
US Unemployment Applications
New unemployment benefit applications totaled 355,000. Superstorm Sandy is being blamed for the distorted figure and it will be this way until January 2013 because the storm’s aftermath will delay people getting to the unemployment office to receive their Obama Money.
McDonald’s Unhappy Time
For the first time since 2003, McDonald’s global same-store sales fell 1.8% in October. Same-store sales in the U.S. and Europe fell 2.2%. This is one indicator that people have less disposable income to eat out. So, when McDonald’s runs out of the money given to them, by the Fed, they will lay-off a bunch of employees. In short, less Happy Meals.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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