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Posts Tagged ‘great depression’

Hyperinflation Or Great Depression II?

June 1, 2011 Comments off

 

Western Europe has invented two institutions that have taken over the world: the university and the central bank. Today, both are under fire as never before. At the same time, both are in their respective diver’s seats. The greater the criticism, the better they do for themselves.

We are finally seeing articles on the bubble in higher education. It isn’t a bubble. Government money still flows in by the hundreds of billions a year.

We hear that college isn’t worth the money. Well, if it isn’t, why are parents paying it? Because they are buying a consumer good: social acceptance. They are buying off peer pressure. They are unwilling to say to their friends, “Billy Bob is going to become a plumber.” Yes, Billy Bob will always have a good income, but Billy Bob’s parents are unwilling to accept this. Billy Bob will get his hands dirty . . . with “filthy” lucre. Oh, the horror! Better that he should be an unemployed B.A. in sociology with $23,000 of student debt, and his parents $50,000 to $150,000 poorer.

That is to say, people have priorities that are different from what the journalists (with B.A. degrees in a field with a dismal future) write about in their articles. The parents will not admit to Read more…

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Rising world food prices may soon hit Africa hard, but could be a future boon

February 21, 2011 1 comment

Damaged rice is seen in a paddy field destroyed by flood- waters near a village in Manmunai West in Batticaloa district, about 199 miles east of Colombo, Sri Lanka, on Jan. 26. The floods inundated rice paddies, and according to the UN Food and Agriculture Organization, at least 15.5 percent of the main annual rice harvest could be lost.

Andrew Caballero-Reynolds/Reuters

Johannesburg, South Africa

Global food prices reached a historic high last month, a fact that may cause even the most comfortable of Americans to cinch in their belts and cut back on spending.

But what about the world’s poor?

“Global food prices are rising to dangerous levels and threaten tens of millions of poor people around the world,” World Bank Group President Robert Zoellick said Tuesday as he announced the bank’s findings that about 44 million people in developing countries have been pushed into poverty since Read more…

Inflation Group Says U.S. Cities Will Be Like Egypt in Four Years

February 5, 2011 Comments off

The National Inflation Association has issued a chilling new advisory in which it warns that the inflationary time bomb being created by the policies of the Federal Reserve will lead to American cities experiencing similar chaos currently unfolding in Egypt by 2015.

Egyptian dictator Hosni Mubarak has been in power for three decades and in that time has managed to handle all manner of threats to the stability of his regime. But it was the huge unrest sparked by soaring food prices that finally led the Egyptian people to launch a revolution which is likely to see Mubarak forced out of office for good.

“Food inflation in Egypt has reached 20% and citizens in the nation already spend about 40% of their monthly expenditures on food. Americans for decades have been Read more…

American Riots Coming Soon…

January 30, 2011 Comments off

What in the world is happening to America?  The things that you are about to see in the videos posted in this article are so disturbing and so violent that it is hard to believe that it is actually Americans that are doing this to one another.  Once upon a time, Americans generally conducted themselves with humility, grace, civility, honor and with a tremendous amount of respect for others.  Sadly, those days are now long gone.  Now, large numbers of people in this country are just going wild.  Unfortunately, the videos you are about to watch are not isolated incidents.  Stuff like this is going on all over the country.  So what is going to happen when the economy collapses and shortages begin?  What kind of violence and rioting should we expect to see at that point?  Just recall what we witnessed in the aftermath of Hurricane Katrina.  Sadly, if the videos below are any indication, the thin facade of civilization that we all take for granted every day could Read more…

Home Price Declines Greater than Great Depression

January 21, 2011 Comments off

 

Source – Reuters

(Reuters) – Home prices fell for the 53rd consecutive month in November (the latest data available), taking the decline past that of the Great Depression for the first time in the prolonged housing slump, according to Zillow.

Home prices have fallen 26 percent since their peak in 2006, exceeding the 25.9 percent drop registered in the five years between 1928 and 1933, the housing data company said in a report on Monday. Prices fell 0.8 percent over the month.

It is a dubious milestone for the U.S. housing market which has failed to gain much traction despite a host of government programs to reduce delinquencies and encourage demand with temporary tax credits and lower interest rates. Many economists expect further price drops, even if there are some anecdotal signs of growing demand, such as in pending home sales data.

“For the next six to nine months, the larger factors affecting the housing market that will produce more home price declines will be the excess inventory of homes, high negative equity and foreclosure rates, and weakened demand due to elevated employment, Stan Humphries, Zillow’s chief economist, said in a blog post.

Declines are accelerating, and it will take a while before falling unemployment and other signs of economic improvement support the market, Zillow said.

Home prices fell at a 0.78 percent pace in November, the fastest since February 2009, the company said.

Alex Jones and Porter Stansberry

January 6, 2011 1 comment

The Economic Implosion of America is Here.

 

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