Today’s Items:
First…
Pop! Spain is Cooked
http://www.zerohedge.com
Spanish government debt rose to 75.9 percent of its economy in the second quarter. This year-on-year 9.2 percent is the highest ratio in at least 22 years. Spanish home prices fell by 14.4 percent, the most on record. Central government spending increased by 4.4 percent and now represents 58.3 percent of Spain’s shrinking GDP.
Next…
Obama’s Middle East Policy Is in Ruins
http://www.spiegel.de
Reminiscent of Bagdad Bob, White House press secretary Jay Carney stated that Mideast violence was not directed at the US; despite the fact that we are finding out that the US Ambassador was sodomized prior to being killed. So, the fact that US embassies being on high alert and American flags being burned throughout the Muslim world is a rousing diplomatic success? Just what the hell are these people at the White House smoking? It appears that Obama’s Mid East chickens are coming home to roost. Anyway, the U.S. imports about 25% of oil used from the Mideast; thus, the manipulation will cause oil prices to more than double.
Next…
Gold & Silver and Inflation
http://kingworldnews.com
It was not just gold and silver that increased with the fed announcement of new money printing. All commodities, along with stocks that produce hard assets, also increased. With that said, the jobs environment is horrible and Wages are still relatively flat in both Europe and the US. Stressed consumers are going to be hit with another round of inflation at a time when they can least afford it. The middle class will continue being wiped out on both sides of the Atlantic. This is the type of stagflationary environment where gold and silver can continue to soar, just as they did in the 70s.
Next…
Social Security and Disability Payments Hit Annual Records
http://cnsnews.com/
By the end of August, according to data released by the U.S. Treasury, the federal government paid about $594.6 billion in benefits in both disability and Social Security. 56.29 million people in the US in August were receiving Social Security or disability benefits. Just imagine the excitement when the mandatory cuts begin on the 1st of January 2013.
Next…
US and China Secretly Testing GMO Rice on Children
http://www.activistpost.com
Officials at the USDA, working in secret with Chinese health officials, have been secretly testing the latest GMO rice concoction on 24 children aged between six and eight years old. For the USDA to be secretly testing genetically modified foods on young children in China may mean that previous secret tests were not favorable.
Next…
House Approves Warrantless Spy Powers
http://www.wired.com
With less than 60 days til the election, House reauthorized, in a vote of 301 to 118, the clearly unconstitutional warrantless wiretapping program, or FISA Amendments Act, for another five years. The FISA Amendments Act gives the government nearly carte blanche spying powers with little or no oversight. So, the breathing on the other end of the phone can continue.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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