From Economic collapse blog Somebody out there is sure getting prepared for something really big. We have just witnessed a takedown of gold and silver unlike anything that we have witnessed in decades. On Monday, the price of gold had fallen by more than 10 percent at one point. It shocked investors all over the […]
In order not to have to start just yet on what can only be called the mother of all dishes after feeding about 25-30 people throughout the Sunday on what was a beautiful day with beautiful people celebrating our good fortune in life, I thought I’d put down a couple of thoughts about why we […]
Just in case you still believe the optimistic crap coming from the US about the Economic “recovery”. The jobs recovery is a complete and total myth. The percentage of the working age population in the United States that had a job in March 2013 was exactly the same as it was all the way back […]
(Update: as is common when you link to “copyrighted” content it is impossible to embed it in your blog. If you want to see the 60 minute segment scroll down to the bottom and click on the word segment) Update II: It seems that the globe is catching on to the idiocy of building 12-24 […]
You know the shit is about to hit the fan when Wall-mart complains about sales! Two weeks ago, Wal-Mart stunned the world when a leaked memo discloses that February sales had been a “total disaster” and the company was facing the worst February start since 2006. Today, Bloomberg’s deep throat in Bentonville strikes again, as […]
Here is a one and a half hour Greek documentary about the privatization and the “soft” coup in Greece by the same people who supported the Military Junta which brought misery to millions of Greeks in times not so long past. It is subtitled in English if you push the subtitle button!
Here is are Max and Stacey on how the banks are preparing for the total collapse of the bond market and why you might ask are Wall street insiders selling 9 times more shares then they are buying and betting mind bogling sums against the a financial collapse in the next 60 days? Could it […]
This is worth breaking my blog silence for (Sometimes the real world is just so glorious I can’t get my act together online). Venezuela just nuked the global finance world with a devaluation of it’s currency with46% . Even with Hugo Chavez in cancerous limbo it seems Venezuela can’t stop being naughty. The bad news […]
Release Date: January 23, 2013 Issued By: Waterfund LLC NEW YORK, NY – January 23, 2013 – Waterfund LLC announced today that it has signed an agreement with IBM (NYSE: IBM) to develop a Water Cost Index (WCI). Scientists from IBM Research will apply Big Data expertise, acting as a calculation agent, to analyze large […]
Britain’s recent economic performance is the worst since records began in the pre-Victorian era, experts said today, apart from the two immediate post-war slumps. Ministers today admitted Britain is facing “very, very grave difficulties” after figures showed the economy did not grow at all in 2012. Both George Osborne, the Chancellor, and Danny Alexander, the […]
Here we are bailing out the big banks and yes, John Key gave billions to the IMF to do just that and Jami Dimon whose bank JPP Morgan has been a recipient of bailout money while they were scamming the system with Derivatives and he has the gall to tell us that we don’t know […]
Just in case anybody can tell me; does New Zealand have it’s own gold in some vault somewhere and if so where? Yesterday the Bundesbank announced it would repatriate all of it’s considerable gold stock back from France and some of it’s gold from New York. As far as I am concerned this is huge […]
Wall street is becoming the biggest slumlord in human history. Ten major financial firms agreed on Monday to pay $3.3 billion in cash to settle allegations of mortgage fraud by the Office of the Comptroller of the Currency (OCC) in the latest in a string of sweetheart settlements between the major Wall Street banks and […]
Just in case you are still laboring under the impression that the US is recovering. By Paul Craig Roberts In November the largest chunk of new jobs came from retail and wholesale trade. Businesses gearing up for Christmas sales added 65,700 jobs or 45% of November’s 146,000 jobs gain. With December sales a disappointment, these […]
I have added the Economic Collapse blog to my RSS feeds so you can keep informed about the real state the US is in as reported from the ground. Large U.S. cities that the rest of the world used to look at in envy are now being transformed into gang-infested hellholes with skyrocketing crime rates. […]
Here is a link to a not for profit documentary you might want to watch with your family and friends and if you feel really courageous with colleagues at work. Maybe after unpacking all those presents you didn’t really need and the food you stuffed yourself with knowing it would cost you another couple of […]
If Greece defaults even partially it will trigger the insurance hedges countries have taken to insure their risks against foreign Currencies. This is what will be the result: Late last night S&P placed Greece into “Selective Default” again. This is not the first time that Athens has been placed in the jailhouse and perhaps it […]
the next bubble to burst! We have already discussed the student loan bubble, and its popping previously, most extensively in this article. Today, we get the Q3 consumer credit breakdown update courtesy of the NY Fed’s quarterly credit breakdown. And it is quite ghastly. As of September 30, Federal (not total, just Federal) rose to […]
But… but… a central bank can never lose money. Bzzzz, wrong. As it just so happens, the world’s most tragicomic farce of a central bank, and one which is about to officially lost its (faux) “independence” and become a branch of the Japanese government if the up and coming PM Abe has his way, the […]
Most people here in Hobbiton are still of the persuasion that America will always be a superpower and that we are part of the biggest bestest empire ever. In fact John Key has us signed on to NATO and the US war machine to help conquer oil and gas fields liberate poor suppressed brown people […]
This video is an absolute must see for all of you Kiwi’s who think we are in debt because we spend to much on health and welfare!
Obama promises us that the best is yet to come. I find these word rather ominous. What have we had so far? Surges in Afghanistan, More Bombs on Libya than in the Germans dumped on England and thousands of dead Syrians merely because they either supported the regime of where part of a minority religion. […]
1 in every 2 Gas stations is closed in the New York New Jersey because there is no fuel. Civilian unrest is breaking out and nerves are frayed. People on food stamps can’t buy their meager rations because the cards they use can’t be used without electricity. Dumpster diving and looting are emerging as the […]
Some excellent sleuthing going on over at Frank Macskasy’s site! Last year, on 19 May, Solid Energy was one of five SOEs that National announced would be partially privatised (see: Budget 2011: Govt seeks $7 billion in asset sales). Bill English announced, with a naivetee usually reserved for wildly idealistic, wide-eyed youth, “Well targeted investment […]
While over here in Kiwi land we still think that the global economy is going through a bit of a dip and she’ll be alright in a while even though milks prices are set to drop leaving a lot of over leveraged Kiwi farmers to face ruin here is the new reality in a pretty […]
From the Economic Collapse blog: #1 Bank of Israel Governor Stanley Fischer says that the global economy is “awfully close” to recession. #2 It was announced last week that the unemployment rate in Greece has reached an all-time high of 25.1 percent. Unemployment among those 24 years old or younger is now more than 54 […]
With John Key prancing around Hollywood and Russell Norman telling us why a round of money printing would be a good idea seeing as everybody else is doing it you would almost forget we are thundering towards a 7th extinction event. Here are a few pointers: Israel shot an UAD , that is an Unmanned […]
While James Henderson over at the Standard is still trying to spin economic recovery in Europe let’s look at the reality of where most Europeans find themselves in: A devastating economic depression is rapidly spreading across the largest economy in the world. Unemployment is skyrocketing, money is being pulled out of the banks at an […]
In America many cities have banned feeding the homeless, in England the government is threatening to take the meagre dole people get to survive on and in Bahrain doctors who treated wounded protesters were convicted to jail for doing so. The result is more crime, more desperation and more violent protests. The title of this […]
There are days I despair more than others and coming from me that says a lot as some of my readers may know. Yesterday Russell Norman, a man who should not be anywhere near politics as his rampant ignorance on matters finance proves to me (mind you I could easily say the same for most […]
