Tag: depression

The 2011 Foreclosure Flood

Filed in BP, depression, Gold, GOld juniors, housing-market, Lear, o by on January 13, 2011 0 Comments
The 2011 Foreclosure Flood

It’s hardly news these days, but the latest numbers on foreclosures speak for themselves. Again, it proves that the bottom in housing is nowhere in sight. Here’s the latest… From the AP by Janna Herron entitled: 2011 to top 2010 record of 1 million foreclosures The bleakest year in the foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and industry experts say more people will miss payments because of job losses and also loans that exceed the value of the homes they are living in. “2011 is going to be the peak,” said Rick Sharga, a senior vice president at foreclosure tracker RealtyTrac Inc. The firm predicts 1.2 million homes will be repossessed this year. The blistering pace of foreclosures this year will top 2010, when a record 1 million homes were lost, RealtyTrac said Thursday. One in every 45 U.S. households received a foreclosure filing last year, a record 2.9 million of them. That’s up 1.67 percent from 2009. Foreclosures are expected to remain elevated throughout the year, pushing home prices down another 5 percent nationally before finally bottoming out. More than half of the country’s foreclosure activity came out of five states in 2010: California, Florida, Arizona, Illinois and Michigan. Together, these states recorded almost 1.5 million households receiving a filing, despite year-over-year decreases in California, Florida and Arizona. The toxic stew grows… By the way, The Zillow Home Value Index has now fallen 26% since its peak in June 2006. That’s more than the 25.9% decline in the Depression-era years between 1928 and 1933. Related Articles: 2011 Housing Market Forecast Case-Shiller Index Screams Housing Double Dip Meredith Whitney Predicts a Housing Double-Dip Zandi: Expect 8% Home Price Declines To learn more about Wealth Daily click here Advertisement American OPEC We’re about to buck the peak oil trend. It’s all about shale oil these days, and if you play the right stock, you could easily see your investment double in a matter of weeks. I’ve found one little-known company that is able to double the amount of oil we get from shale reserves… Here’s how to get your share of these underground profits. The 2011 Foreclosure Flood originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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Your Wallet and the 2010 Election Tsunami

Filed in depression, economy, GOld juniors, mongolia by on November 3, 2010 0 Comments

It wasn’t exactly pitch forks and torches yesterday, but after an election cycle of heated debates, the electoral tsunami finally arrived. Using the power of the ballot box, Americans decided to rearrange the map again — proving the anti-establishment wave is as deep and powerful as it has ever been. And while neither camp can actually claim the high ground this morning, the good news for investors is the divided government that will follow in its wake. After all, equity markets have historically favored gridlock by a pretty wide margin… In fact since 1970, the S&P 500 has grown at a median rate of 13.5% per year in the face of divided government, versus a gain of just 9% during times of one-party control. Now how about those tax cuts? In the meantime, though, the lame duck session is chock-full of question marks, namely in regards to the tax cuts. As I wrote back in July, the tax hammer is about to fall. Without action, Uncle Sam will be at it again, doing his best to separate you from your money when the ball drops in Times Square—regardless of what happened in yesterday’s election… And like a great hurricane off somewhere in the Atlantic, the storm will finally arrive. When it does, you’ll have less money in your pocket to stare down the worst economy since the Great Depression. If Congress fails to act, the income tax rate clock will be turned back to the higher levels of June 2001. Thus, U.S. employers across the country are already beginning to prepare their employees for much smaller paychecks as the tax question still goes unanswered… According to calculations by H&R Block, married couples with an income of $80,000 can look forward to $442.96 less in their paychecks each month …

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The QE2 Rap Song

Filed in ben bernanke, depression, GOld juniors, Gold Market, lead, Ron Paul, ubs by on October 22, 2010 0 Comments

Rap is not exactly my style, but this is one I can understand all the way. It’s edgy and dead spot on. Remember that as you stare at the ceiling all night wrestling with the ghost of Tom Joad. After all, this was no boating accident. That being said here’s a video from a year ago that makes more sense everyday…. The battle rages on. Hayek is right by the way, speculative bubbles lead to malinvestment—big time. Just think what we could have done with the trillions spent on McMansions, granite countertops, and hot tubs. Related Articles: Ron Paul vs. Ben Bernanke Ron Paul: End The Fed Hoenig: QE2 Won’t Work Ben Plans, Markets Laugh To learn more about Wealth Daily click here Advertisement More than 12 times your money by 2012 The analyst who’s shown you an 86.6% “win” ratio on energy plays of as much as 225%, 373%, and 452% reveals the NEXT big North American oil winner… 1,239% gains by 2012 await those who click here now and get in on this high-tech $4-a-share driller before word gets out to the mainstream money media. The QE2 Rap Song originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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Physical Metals Run on LBMA in Play NOW. COMEX Next? | Wall Street …

Filed in Australian Gold, Bank Gold, comex, depression, Gold by on October 3, 2010 1 Comment

Adrian Douglas of GATA reports: It appears that a run on the bullion banks has commenced. There is a cover-up of back-door injections of liquidity of physical gold , and the LBMA now is trying to conceal trading information. …. if there is a run on bullion on the stock market or metals exchange it WOULD BE DAMN SAFE TO ASSUME the markets will tank like they did in the great depression . omg this is golden info THANKS COMEX and TSX is next god bless. zalida100 …

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Thriving with Gold and Juniors in the Greater Depression

The Gold Report: Doug, at a recent conference you said that the U.S. ought to default on its national debt now. Why that rather than letting it play out? Doug Casey: Several other things almost equally radical should be done besides defaulting on the debt. I recognize that an outright default is most unlikely, but the national debt should be defaulted on for several reasons. To start with, once the U.S. government defaults on its debt, people will think twice before lending it any more money; giving politicians the ability to borrow is like giving a teenager a bottle of whisky and the keys to a Corvette. A second reason is that the debt is an albatross around the necks of the next several generations; it’s criminal to make indentured servants out of people who aren’t even born yet. A third reason would be to overtly punish those who have been lending money to the government, enabling it to do all the stupid and destructive things that the government does with that money. The debt will be defaulted on one way or another. The trouble is they’re almost certainly going to default on it through inflation, by destroying the currency, which is much worse than defaulting on it overtly. That’s because inflation will wipe out the relatively few people who are prudent in this country, those who are actually saving money. Because they generally save in the form of dollars, they’re going to wipe them out financially. It’s just horrible. Runaway inflation will reward the profligates who are in debt—people who’ve been living above their means. And punish the producers who’ve been saving and trying to build capital. That’s in addition to the fact it will destroy millions of productive enterprises. A runaway inflation is the worst thing that can happen to a society, short of a major war. They just should default on it honestly, as it were. TGR: But your belief is we’ll try to inflate our way out of it to pay for it. DC: Don’t say “we.” Say the U.S. government. I don’t consider myself part of the problem. Americans have to…

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The Ten Things You Should Be Doing NOW and Everyday

Filed in deflation, depression, Spot Gold by on September 24, 2010 0 Comments

“Must Do” #1: Stay Alert and in the Know. For the last fourteen weeks, we’ve examined the new economic realities that confront us on a daily basis. Our discussions have centered on a groundbreaking documentary, “The Fall of America and the Western World” which let us in on the thoughts, principles and policies of right wing, left wing, centrist and independent economic and political thinkers. Each week we’ve offered practical advice on things you can do to prepare for further economic deterioration and ultimately, your survival. This marks the last of our articles — we thought it would be advantageous to summarize our previous tips on what you should be doing starting right now and going forward to best position yourself to keep your head above water… TIP ONE: Get Real. You must realize you are being lied to by the media, the politicians and the experts. If you don’t accept this reality, then you will not be serious in your efforts to change your situation. TIP TWO: Be Prepared. Figure out what you’ll need to survive and examine what you have. This will tell you what you don’t have. Start a plan so you can get what you need, but don’t yet have. TIP THREE: Become Self-Sufficient. The more dependent you are on others, the less likely your chances of survival. Start with the basics: food and water. Do you have a plan for feeding yourself if the food supply chain breaks down, supermarkets go out of business and your cupboards are bare? TIP FOUR: Be Secure. As things get worse, those that have will become targets of those who have not. Is your home secure? Are you hiding your “wealth” and looking poor? Are your assets easy to get to but securely protected? TIP FIVE: Get Off the Grid. As resources dwindle a steady, reliable source of power will become a necessity. Solar, wind and hydropower are all within the reach of the individual, depending on your location. Transportation needs also must be considered, especially if you are reliant on public transit. Do you have a bicycle? TIP SIX: Get Out of the Dollar. You will need an emergency fund. Dollars are not the currency you want this fund in. Think precious metals and buying a safe to store them in as your bank may not be around much longer. TIP SEVEN: Think Individually, Act Privately. Be brutally honest about your skills. If your skill set will enable you to do…

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That Rumbling Sound Is the Dollar Giving Way

That Rumbling Sound Is the Dollar Giving Way

For nearly twenty years, we haven’t flinched from our prediction that the massive debt build-up of the last generation would precipitate out as a deflationary bust. That is what we still expect, although we now believe there is likely to be a hyperinflationary phase at some point as the financial system implodes. But the bottom line is that no matter how things play out, America’s standard of living will fall more steeply than at any other time since the Great Depression. As for the deflation-vs.-hyperinflation “debate,” it is useful only to the extent it helps predict how mortgage debtors will fare as this economic cataclysm plays out. We seriously doubt they will be “saved” by the kind of hyperinflation that would put hundred-thousand-dollar bills in Joe Homeowner’s wallet. Imagine how mortgage lenders would react if Joe could peel off three or four of those bills and say, “Okay, pal, we’re square.” This scenario will seem particularly unlikely to those who believe that these economic hard times have been engineered by Masters of the Universe intent on stealing our property. Trust us on this: If there’s a hyperinflation, it is the rentiers who will get screwed most ruinously, not the little guys. Even so, that doesn’t rule out the prospect of a fleeting, hyperinflationary spike on the way down, since widespread notions concerning the dollar’s true value could change precipitously overnight. We mention this because notions are already beginning to change in ways that leave the dollar increasingly vulnerable to a global run. The exploding caldera of fear that will eventually bring this about bubbled to the surface yesterday when the Fed confirmed yet again that it is absolutely clueless about how to get…

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Why Might An Investor Consider The American Eagle 50 Dollar Gold …

Filed in currencies, depression, Gold, Indonesian Gold by on September 13, 2010 0 Comments

The recent world depression together with fears of a potential double dip depression has caused the stocks and currencies almost everywhere in the world to plunge and become too dangerous to work with as investment instruments. … The American eagle gold coin is the only bullion coin in the world that carries with it the guarantee of a national government. The United States government guarantees to the owner the coin’s purity, content and weight, which allows him to be …

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Are We in a Recession or a Depression?

Are We in a Recession or a Depression?

Filed under: Forecasts , Market Matters , Economic Data , Federal Reserve , Recession Are we in a recession or a depression? A recession usually means a temporary dip in an otherwise growing economy. A depression is much worse, feeding on itself and dragging the economy lower and lower. A recession carries hope. A depression is pure hopelessness. We have all kinds of forecasts, from extreme optimism to bleak pessimism. Government officials and the mainstream media are touting this as a dip in a long-term growth cycle. Continue reading Are We in a Recession or a Depression? Are We in a Recession or a Depression? originally appeared on BloggingStocks on Thu, 02 Sep 2010 10:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Top economists: The second Great Depression has arrived

Filed in depression, gld, Gold by on August 30, 2010 0 Comments

Terrence Aym | Some economists have begun using the term, Great Depression II.

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“Monetary Shock and Awe”: The Fed prepared to launch most Radical Intervention in History

Mike Whitney Black Listed News Sunday, August 29, 2010 The equities markets are in disarray while the bond markets continue to surge. The avalanche of bad news has started to take its toll on investor sentiment. Barry Ritholtz’s “The Big Picture” reports that the bears have taken the high-ground and bullishness has dropped to its lowest level since March ‘09 when the market did a quick about-face and began a year-long rally. Could it happen again? No one knows, but the mood has definitely darkened along with the data. There’s no talk of green shoots any more, and even the deficit hawks have gone into hibernation. It feels like the calm before the storm, which is why all eyes were on Jackson Hole this morning where Fed chairman Ben Bernanke delivered his verdict on the state of the economy on Friday. Wall Street was hoping the Fed would “go big” and promise another hefty dose of quantitative easing to push down long-term interest rates and jolt consumers out of their lethargy. But Bernanke provided few details choosing instead this vague commitment: “The Committee is prepared to provide additional monetary accommodation through unconventional measures if it proves necessary, especially if the outlook were to deteriorate significantly.” Check. There’s no doubt that Helicopter Ben would be in mid-flight right now tossing bundles of $100 bills into the jet-stream like confetti if he had the option. But Bernanke is fighting a rearguard action from inside the FOMC where a fractious group of rebels want to wait and see if the recent downturn is just a blip on the radar or something more serious, another tumble into recessionary hell. This week, the markets were blindsided by two days of dismal housing news, grim durable goods orders, a slowdown in manufacturing, and modest gains in employment. 4 years later, and housing is still mired in a depression. When does it end? Households and consumers are buried under a mountain of debt; personal bankruptcies, delinquencies, defaults and foreclosures continue to mount while politicians threaten to tighten the purse-strings putting more pressure on families who can barley put food on the table let alone pay the mortgage. Just months ago, 57 out of 57 economists surveyed predicted that the economy would avoid a double dip recession. Now they’re not so sure. Stock market gains have been wiped out and the S&P 500 has dropped 14 percent …

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Market Crash Coming? Welcome the Road Warrior Years

Filed in depression, Gold Investing, silver by on August 13, 2010 0 Comments

This week everyone is convinced the market is coming to end, we are going to enter a Great Depression.  Next thing you know gas will be scarce and we’ll all be trying to survive in what will become a post apocalyptic world. You’ll be running into m…

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