Three Years On and Things Are Only Getting Worse

205
141
Fri, Jul 8, 2011 - 8:46am

The Shill, The Coug and LIESman are "stunned" and "shocked" this morning at the lousy, awful and horrible BLSBS report. Really? Really?? Come down from your ivory towers and visit Main Street every once in a while you dopes! Utterly clueless, status quo, inside-the-box thinking.

I sure hope that, by now, none of this surprises any of you. The U.S. economy stinks on ice and it will continue to. What does this mean?

1) Tax receipts at the federal, state and local level will continue to decline.

2) Politicians will try to raise taxes which will only exacerbate the economic malaise.

3) Government debts at all levels will grow at an increasing pace.

4) THE ONLY FUNDING/SERVICING OPTION IS DEBASEMENT OF THE CURRENCY VIA QUANTITATIVE EASING (MONEY PRINTING).

5) The ultimate impact will be unprecedented global insecurity and upheaval.

We are here to help each other and warn others. There is still time but the sand is nearly drained from the hourglass. Protect yourself and your family while you still can. TF

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  205 Comments

edge
Jul 8, 2011 - 10:27am

the takedown...

the takedown in silver is on!!! takedown = opportunity.

¤
Jul 8, 2011 - 10:31am

Space Shuttle 10:40 a.m.

Launching shortly hopefully. It's on CNN right now.

kliguy38
Jul 8, 2011 - 10:35am

DON"T BE TOO ANXIOUS to add

DON"T BE TOO ANXIOUS to add back or to your existing silver or miners here......we will probably see a multi day pullback here......if you have a core of miners or silver then hold tight.....but I think I will hold off replentishing myminers for a couple of sessions.......I want to see how they handle the $HUI supports.......watch closely for support......IF 520 does not hold we are dipping to 495 again

bruinjoe93Shill
Jul 8, 2011 - 10:36am

Gold and commodities are

Gold and commodities are moving in anticipation of Aug 2. The debt ceiling must be raised or the government defaults on some bond payments.

666
Jul 8, 2011 - 10:36am

Gold spike

Dont ever forget the margin hikes of Silver

Irene
Jul 8, 2011 - 10:37am

ES Basket

Hi All,

Zerohedge posts a lot about the ES Basket. Can anyone tell me what it's composed of? I'd ask at ZH but they won't gimme an account.

See, e.g., https://www.zerohedge.com/article/risk-es-spread-closes-0

Thanks!

¤SilverWealth
Jul 8, 2011 - 10:39am

SilverWealth

Your right. But he comes across as dynamic to the sheeple and the MSM/American Idol/Reality TV/ attention deficit electorate who has no clue whats going on in this country or their own states.

He's like Cedric the Entertainer except a politicial/preacher/ultra-liberal socialist one who happens to be in charge. At this point he looks hollow and sounds hollow and looks beaten down like he's going through the motions.

He is up against it for sure.

Don't get the impression I find anything really admirable about BO except that he appears to be a devoted father who loves his two daughters like crazy.

That part I admire. It's genuine and non-political.

BillAuAg
Jul 8, 2011 - 10:46am

I suspect that Comex has

I suspect that Comex has effectively lost control of the Au price.

With the Chinese exchange now in operation competition once again gives us a way out of this monopoly.

Regrettably, Ag is not yet traded on the Chinese exchange, but that's in the works.

Look at the charts for verification. Free at last!

SRV - ES339
Jul 8, 2011 - 10:49am

Taxes and Jobs

Interesting how Turdites hate to play the Dem / GOP game, but seem to pile on against all Dem positions (Disclosure: I lean left on social issues and try to stay in the middle in finance).

So, where are all the jobs after 6 + mths of a GOP led (do nothing) congress, and Obama's capitulation on tax cuts for the rich... really, where are the jobs the GOP promised (and they did exactly that)? Oh I forgot, the millionaires and corporations need more tax breaks and the poor need to pay more and get less, (hello Greece, Ireland, Portugal...) before we get to the promised land! The system is broken... and the GOP is holding the economy hostage on the debt limit in support of their corporate masters.

They have every right to fight for the policies they believe in, but does anyone really believe the threat of default is good for the economy... just get it done, and fight over the budget another day.

Not trying to pick a (ZH) fight here... just sharing an alternate view of the Washington clown show!

bullwhip29
Jul 8, 2011 - 10:49am

Well, here we go again...

It's hard to believe gold kissed $1522 yesterday and the EE is now out there defending $1550 this morning. Obviously, the pea shooters didn't get the job done (or maybe the bazookas are ineffective now?). Let's see if the EE thugs really pull out all the stops later today in an effort to contain the damage. Or maybe, just maybe the fourth attempt to finally break out of these shackles will prove successful and the summer doldrums many have called for come to a sudden end? Anyhow, I see silver is already back in the red. Hmm... As for $100 crude...well, I guess we wait for another day.

Here's something to chew on in the meantime (which I'm sure many of you have already seen)...

https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/6_Whistleblower_Maguire_-_This_Will_Destroy_Gold_%26_Silver_Shorts.html

https://www.equedia.com/blog/view.php/The-New-Pan-Asia-Gold-Exchange

Have a great weekend.

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