120801 – Time Running Out

Today’s Items:

Near-Bankrupt Greece Says Cash Reserves Drying Up

Near-bankrupt Greece is fast running out of cash while it waits for its next installment of aid from international lenders.   Greece’s European partners, who are seeing record unemployment levels, have repeatedly promised the country will be funded through August, when it must repay a 3.2 billion euro bond.   By now, the Greek people should know that they need to get out of the EU and start rebuilding from scratch.   But will they have the will power to do so?

11 Signs That Time Is Quickly Running Out For The Global Financial System

Here are a few…
1. Spain, with a 24.6% unemployment, may need a 300 billion euro bailout.
2. The UK economy has now plunged into a deep recession.
3. The Dallas Fed index of general business activity fell dramatically to -13.2 in July.

Post Office Nears Historic Default On $5-Billion Payment

The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury. $5.5 billion on Wednesday and $5.6 billion due in September will be left unpaid.   Unless, of course, it got lost in the mail.  Of course, it appears the Post Office will be needing some Obama money.

Canadian Mint to Stop Circulating Pennies

The Royal Canadian Mint will officially stop circulating pennies as of Feb. 4, 2013.   The government cited “excessive” production costs relative to the coin’s value as a key reason. It costs 1.6 cents for every coin minted.  Can you say inflation?  Anyway, it will not be long before the Federal Reserve makes the same move.

Flash Mob Crimes And Organized Looting

Until recently, most Americans had never even heard of “flash mob robberies” or “organized looting”. Today, it is becoming a weekly story.   To make things worse, when officials refuse to do anything about it; such as in Baltimore, the word gets out and similar actions are just encouraged.   At some point, these mobs are going to meet a store owner, who believes in the 2nd amendment, and that is when the excitement will begin.

Five ATF Officials Found Responsible for Fast and Furious

Well, Eric Holder has done his job; in that, he has nearly fallen on his sword and successfully hid Obama’s hands on an operation designed to attack the 2nd amendment.    The Republicans, can only name 5 senior people, not including Holder, for the operation that has led to hundreds of deaths.    The Congressional report did cite the Department of Injustice’s attempt to obstruct the investigation.   Well duh!!!

Rationing Begins

Sixteen states, including California, Texas, Utah and Main, have set a limit on the number of prescription drugs they will cover for Medicaid patients.    Well, who could have seen that one coming?   Could those death panels be far behind?

Finally, please prepare now for the escalating economic and social unrest. Good Day!

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