Because of sanctions and dropping oil prices, Russia’s economy is in tormoil as the ruble continues to plummet. In fact, Russia may be forced to sell their gold from their reserves as China and India are ready to take it off their hands. Or an alternative, Russia could just sell some nukes to Iran and make John Kerry’s job easier?
Euro Crisis Deepens
Although it was anticipated, the Eurozone debt crisis is repeating itself again. The euro experiment will fail because there is no sound way to have divergent economies using the same currency and no amount of printing or games can change what will happen to this boondoggle. The German economy has emerged as the bankroll of last resort; however, how long before they are looking for the door?
It was believed that the disposable income, generated by lower gas prices, would translate to more consumption buying; however, a CBS poll finds 73% of Americans are using the extra income to pay down outstanding bills and expenses. In addition, 45% of Americans believe gas prices are still too high.
U.S. Manufacturing PMI
U.S. Manufacturing PMI collapsed to 53.7 in December, missing expectations of a rebound to 55.2 by the most on record and falling to its lowest since January 2014. The employment sub-index dropped to its lowest since July and new orders collapsed to its lowest since January. At least, it is above 50% which represents expansion of the manufacturing sector.
More than 20 million Americans, who work for small businesses with fewer than 50 employees, are covered by employer insurance. But with insurance rates rising, even with subsidized policies being too expensive, many of those small businesses are opting to drop their coverage and have workers purchase their insurance through the Obamawreck website. I seem to remember the doped up Pathological Liar and Charlatan promising “If you like your healthcare plan. You will be able to keep your healthcare plan.”
Socialist Elizabeth Warren, worth $15 million, says that she is not running for President-but that doesn’t mean that she won’t. She is riding the wave of anti-bank establishment, and if things get very ugly with Wall Street banks, she may be viewed as yet another messiah in the way Obama was.
PETA, the hypocritical group that kills animals, is calling for the expulsion of three 18 year old University of Vermont students, who are suspected of being under the influence, for the theft, slaughter and consumption of a fraternity’s pet chicken. It could have been worse… Remember when Obama joked about eating a pitbull?
According to James Turk, after less than a year of trading gold, the global commodity trading company, Gunvor Group, is exiting gold trading because they cannot establish identity of bars; thus, they do not want to be held accountable and accused of money laundering. It is of course hard to identify gold’s origin when central banks are surreptitiously involved in the gold market, and when central planners work hard at keeping their activity secret.
According to Harry Dent, who has been predicting the price of gold for years now, believes the next target for gold is $700 per ounce within the next two years because of deflation. Because of deflation concerns, he recommends having money increasingly in liquid assets that are safe.
8 Reasons Why the U.S. is Falling
Here are a few without a thorough explanation…
1. Funding both sides of regional wars.
2. The explosive growth of the nanny state.
3. People being acclimated to the growing police state.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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