May 17, 2013
Activists demanding the closure of the Guantanamo Bay prison have marked the 100th day of a hunger strike there by submitting a petition to the White House containing some 370,000 signatures.
A group of activists wearing orange jumpsuits and black hoods like those used on detainees at Guantanamo Bay gathered outside the White House on Friday to call for the immediate closure of the controversial jail.
“Immoral, illegal, ineffective,” [...]
May 10th, 2013
The Department of Homeland Security may be in possession of nearly two billion rounds of ammunition, but despite claiming it’s being stockpiled for the safety of Americans, they’re not sharing.
The shortages of popular ammunition rounds has made it difficult for average citizens to acquire most calibers of ammunition through regular retail channels, but the empty shelves don’t stop there.
Police departments across the country are scarmbling to find [...]
If all PMI numbers come in really bad, I’m expecting the DOW to go even higher.
Embrace the madness. Up is down, black is white. Printing money good, gold bad. Debt is good, saving bad. Spend, spend dammit! Spend you fuckers! SPEND!!! The Koreans need to ship some useless shit over here or else this whole thing goes down the shitter. Spend, even if you have to borrow it. But remember: [...]
April 28, 2013
While suicides out of desperation had long been a tragic, if recurring, staple in depressionary Europe, so far popular anger had been directed at within, with few if any murderous outbursts targeted at other people, and certainly not at politicians (or financiers). This obviously has been a critical aspect of the current economic collapse in Europe – one needs but recall that it was a political assassination that [...]
Today’s AM fix was USD 1,577.25, EUR 1,212.80 and GBP 1,029.60 per ounce.
Friday’s AM fix was USD 1,552.75, EUR 1,207.42 and GBP 1,019.60 per ounce.
Gold climbed $25.90 or 1.67% to $1,579.10/oz and silver rose 42 cents or 1.6% to $27.29/oz on the COMEX on Friday. Gold and silver were down 1.07% and 3.77% for the week.
Cross Currencies Table – Bloomberg
Gold futures in Tokyo jumped almost 5% to near all time [...]
90% supply reduction; citizens in near-panic
Feb 28, 2013
In a classic example of an anti-free-market collapse, fifty pharmaceutical companies are now halting supplies of drug medicines to the nation of Greece, causing severe shortages of over 200 popular pharmaceutical medicines there. Pfizer, Roche, GlaxoSmithKline, Sanofi and many other have all reportedly joined in the partial embargo out of a fear that the low-priced drugs sold to Greece would be [...]
Why Are Yields on U.S. Treasuries Rising All of a Sudden?
Could U.S. debt be reaching a breaking point?
In the chart below of the U.S. 10-year Treasury, it looks like yields on U.S. bonds have bottomed out and are rising again.
There’s definitely selling pressure in U.S. bonds, otherwise the yields would not have risen 30% since last summer. (Imagine if the Federal Reserve was not buying $45.0 billion worth of U.S. Treasuries per [...]
Two technology firms that monitor global Internet traffic report that Syria has been cut off from the Internet. Regular landline phone and cell phones services have been affected as well, Syrian opposition activist Ammar Abdulhamid told me. “Therefore, the possibility of accidental damage can be discounted,” said Abdulhamid. “This is something done intentionally by the regime, and reflects growing desperation on account of the recent advances made by rebels, especially in Damascus.”
Nov 23, 2012
In Greece, with the economy collapsing, the people attempt to push through barricades where their political leaders are meeting:
In the US, with the economy collapsing, the people attempt to push through barricades at Victoria’s Secret to buy panties:
In Spain, with the economy collapsing, the people take to the streets in desperation, where clashes with police break out over austerity cuts:
In the US, with the economy collapsing, the [...]
Wall Street Journal
November 24, 2012
I met Shirelle as she entered treatment for cocaine addiction at the height of the crack epidemic in the 1980s. An ancient-looking African-American woman who was in fact in her late 30s, she met my gaze with a look that I had seen all over the blighted neighborhoods of Detroit: a disturbing combination of twitchy facial movements and inert, vacant eyes. Feeling ashamed and suicidal [...]
November 13th, 2012
Do you think the government will be there for you in the middle of a crisis?
If they can’t handle the emergency response after a Category 1 hurricane, what will this country look like when the economic and fiscal crisis comes to a head?
What happens if the US dollar comes under attack from foreign creditors who choose to no longer accept it in trade? How will we as [...]
Looters have taken advantage of the confusion and desperation by dressing as Con Edison workers and breaking into houses on the pretext that they were doing electrical repairs. Sushko reports that around 15 people have been arrested for looting.
Have you ever laid in bed awake at night with a knot in your stomach because you didn’t know how your family was possibly going to make it through the next month financially? Have you ever felt the desperation of not being able to provide the basic necessities for your family even though you tried as hard as you could? All over America tonight, there are millions of desperate [...]
President Barack Obama needed a game-changing night here in Hampstead, New York and Mitt Romney made sure he didn’t get it. Over the 90 minutes, Obama might have edged it — just — but strategically he did little if anything to blunt Romney’s growing advantage
Just as Al Gore over-compensated for his poor first debate in 2000, we saw a completely different Obama this time around. He had clearly had some [...]
Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, warned about a chaotic future where, “Along the way, various currencies will become the safe haven of the day, but none will survive what lies ahead.” He also cautioned, “No amount of printing or economic growth can prevent our destiny of currency destruction and entitlement collapse.”
Below is Fitzwilson’s [...]
Yesterday’s “leak” of Draghi’s comments that it is not monetization if just the tip only bonds with a maturity of 3 years or less are monetized, aka, legitimate monetization does not cause inflationwas so horribly handled that the ECB huffed and puffed in a desperate attempt to appear angry, even though it was absolutely delighted that it had even more ammo in its war against Germany. Today, the leakage continues only this time nobody [...]
You can sense almost an air of desperation from David Kostin, Goldman Sachs chief U.S. equity strategist, in his latest note to clients as he pleads with them to take money out of stocks before they fall off the fiscal cliff.
In the note, Kostin vehemently defends his year-end S&P 500 [.SPX 1415.69 -2.47 (-0.17%) ] target of 1250 despite the benchmark’s recent rise to above 1400. The strategist still sees a 12 percent drop ahead, believing that [...]
Another day, another prediction of a Greek exit from the euro zone. But unlike the vast majority who give a medium term timeline for a “Grexit”, one strategist told CNBC it could come as early as next month.
“It’s a question of when, not if. Next month there is the ratification of the ESM [European Stability Mechanism] in Germany and you may well see a situation where Greece leaves the euro, [...]
You Will Not Believe What Some People Are Willing To Do For A Paycheck These Days
The Economic Collapse
Aug 14, 2012
It is absolutely amazing what some people will do to make a living in this economy. Desperate times call for desperate measures, and we have not seen this kind of desperation for jobs in America since the Great Depression of the 1930s.
What some people are willing to put up with [...]
The insolvent banana continent is back. Recall back in May 2011:
“When it becomes serious, you have to lie.” -Jean Claude Juncker
Ergo, things in Europe are very serious again because the Eurogroup’s head, who until recently promised he was quitting his post because “he had gotten tired of the Franco-German interference in managing the region’s debt crisis”, only to spoil the fun and say he was lying about that too, is back to doing [...]
It is always a sign of desperation to ban short selling. Trying to put an artificial bottom usually backfires and we are seeing this hit in Spain. The situation is unsustainable and has taken the headlines away from Greece. Spain is a much bigger economy and they are deep in a recession with headline unemployment near 25 percent. Financial and government leaders continually attempt to solve a debt crisis with more debt. [...]
Today Stephen Leeb told King World News, “… there is a controlled desperation in China when it comes to acquiring gold.” Leeb, who is Chairman of Leeb Capital Management, also said, “They are acquiring as much as they possibly can without tilting the markets dramatically to the upside.”
The acclaimed money manager also stated, “China mined a total of 355 tons, which was by far the largest amount of gold mined [...]
Egyptian husband and wife arrived at Sharjah International Airport on Friday night but were held at immigration as child did not have a visa
They were told they would be held in the airport until Sunday, so decided to make a run for it
Couple put baby in a bag to get through Customs’ X-ray machine
Baby’s outline was spotted on the scanner by officials
A couple were caught trying to smuggle their baby [...]
Peter Orszag, former head of the Obama Office of Management and Budget, is desperate. With even Roll Call recognizing that President Obama is fighting an uphill battle for re-election, Orszag is floating a trial balloon: mandatory voting. His call for forced voting comes in an op/ed for Bloomberg News:
The U.S. prides itself as the beacon of democracy, but it’s very likely no U.S. president has ever been elected by a majority of American adults.
It’s our [...]
In a meaningless “test” of investor appetite for Spain’s Thursday issuance of 2, 3 and 5 years bonds, Spain today sold €3.04 billion in 12 and 18 month bills, well inside the LTRO maturity, and completely meaningless from a risk perspective – after all even Greece is issuing Bills. Yet for some reason the market which continues to be dumber by the day, somehow took the “successful” auction as an [...]
Anyone want to try defining “overnight” for me, just so that we have a rule of thumb going forward? On Inauguration Day, I would have accepted “2009? or even “his first two years in office” as plausible answers. Instead, five months out from election day, somehow dawn still has yet to break. His braintrust is now actually on the cusp of arguing, in all seriousness, that it’s unfair to judge [...]
Go to 12:55 mark in video.
Finally, below is hands-down the single most important item of the day. Some of you may recall that I alluded to “big things behind the scenes” a few days ago. This is one of those things. Please watch this interview of Hugo Salinas-Price. As you know, the Greek people are about to suffer incredible adversity and hyperinflation as they attempt to regain sovereignty over their [...]
That best-selling author, Barack Obama, is scheduled to appear at a campaign fundraiser in New York on June 18, hosted by members of the publishing industry.
That would be the same President Obama whose administration filed anti-trust cases against five leading publishers in April, claiming they exercise an abusive monopoly.
In any other field of business, the timing would suggest a classic political shakedown - Nice little literary business you got here. [...]
Women resorting to extreme weight loss methods experience ‘diet brain’, leaving them depressed, agitated and forgetful, experts suggest.
As a result four out of ten admitted their marriage or relationship had suffered, while a quarter said their performance at work had also been blighted.
Nutritionists are now urging dieters to take sensible steps to avoid such symptoms.
Four out of ten women admitted their weight obsession had a negative impact
One in three women admitted [...]
Like any young boy, this child wanted to avoid being separated from his mother for too long.
But this three-year-old’s desperation to see mum nearly ended in tragedy.
As this incredible CCTV footage shows, the youngster risked his life by travelling through the middle of a busy junction on his toy motorcycle.
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Shocking: The youngster is pictured travelling across the busy junction on his toy motorcycle
Scary: As the tot makes [...]
BRUSSELS — Worries about Greece’s electoral turmoil and Spain’s spiraling borrowing costs are piling the pressure on European Union leaders meeting in Brussels on Wednesday amid renewed market pressure to keep the region’s debt problems from getting worse.
Spain’s prime minister warned that his country can’t continue much longer with its current high borrowing rates and urged a joint European response to help.
Mariano Rajoy and newly elected French President Francois [...]
A lot of pictures. And stories.
A Dark Corner of America: Photographs Show Philadelphia’s Seedy, Drug-Fueled Underbelly And Its Inhabitants’ Struggle To Survive(April 27, 2012)
“It’s been described as the street of lost souls and forgotten dreams. On Philadelphia’s Kensington Avenue, the desperation is palpable. Drug addicts and prostitutes take shelter under elevated train tracks that run three miles into the far northeast of the city, in a run-down neighbourhood that has become [...]