Tag Archives: collapse

Moscow Skyscraper Goes Up in Flames But Does Not Collapse

Moscow Skyscraper Goes Up in Flames But Does Not Collapse

Since September 11, 2001, it has been assumed that all tall buildings that catch on fire will probably collapse.

It didn’t happen last night when Moscow’s tallest building, Federation Tower, which is under construction, went up in flames. The fire raged all night and the building did not collapse.

Maybe it had something to do with the fact the fire had nothing to do with cave dwelling Muslims who hate us for our freedoms.

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South Korean Twin Towers Scale Model of World Trade Center Collapsing?

Proposed S. Korean Towers Resemble Exploding World Trade Center
Not coincidental.
1:17 PM, Dec 9, 2011 • By JOHN ROSENTHAL
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The unveiling of pictures of planned luxury residential towers scheduled to be built in Seoul, South Korea, has sparked instant controversy. The reason is obvious. The towers, which include a so-called “cloud” feature connecting them around the 27th floors, clearly resemble the World Trade Towers in the process of collapsing following the 9/11 attacks.

The designers of the towers, Dutch architectural firm MVRDV, have responded to the controversy by quickly publishing an apology in English. “It was not our intention to create an image resembling the attacks,” the designers insist, “nor did we see the resemblance during the design process.”

They did not see the resemblance during the design process? The problem with this assertion – apart from its inherent implausibility – is that they have admitted the contrary in Dutch. Thus Jan Knikker of MVRDV told the Dutch newspaper Algemeen Dagblad, “I have to admit that we also thought of the 9/11 attacks.”

Moreover, given the context, the MVRDV architects could hardly have not thought of the 9/11 attacks. The residential towers, after all, are supposed to be built at the entrance to the so-called Yongsan Dream Hub: a complex of business towers that has been designed by none other than Daniel Libeskind, the designer of the original “master plan” for the reconstruction of Ground Zero. Indeed, as the below image from Studio Daniel Libeskind makes clear, Libeskind’s Yongsan Dreamhub “master plan” closely resembles his original “master plan” for lower Manhattan.

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Contingency Plan

British draw up plans to protect citizens across Europe from mass-rioting if Euro collapses

As the Italian government struggled to borrow and Spain considered seeking an international bail-out, British ministers privately warned that the break-up of the euro, once almost unthinkable, is now increasingly plausible. Diplomats are preparing to help Britons abroad through a banking collapse and even riots arising from the debt crisis. The Treasury confirmed earlier this month that contingency planning for a collapse is now under way. A senior minister has now revealed the extent of the Government’s concern, saying that Britain is now planning on the basis that a euro collapse is now just a matter of time. “It’s in our interests that they keep playing for time because that gives us more time to prepare,” the minister told the Daily Telegraph. Recent Foreign and Commonwealth Office instructions to embassies and consulates request contingency planning for extreme scenarios including rioting and social unrest. Greece has seen several outbreaks of civil disorder as its government struggles with its huge debts. British officials think similar scenes cannot be ruled out in other nations if the euro collapses. Diplomats have also been told to prepare to help tens of thousands of British citizens in eurozone countries with the consequences of a financial collapse that would leave them unable to access bank accounts or even withdraw cash. Fuelling the fears of financial markets for the euro, reports in Madrid yesterday suggested that the new Popular Party government could seek a bail-out from either the European Union rescue fund or the International Monetary Fund. There are also growing fears for Italy, whose new government was forced to pay record interest rates on new bonds issued yesterday. The yield on new six-month loans was 6.5 per cent, nearly double last month’s rate. And the yield on outstanding two-year loans was 7.8 per cent, well above the level considered unsustainable. Italy’s new government will have to sell more than EURO 30 billion of new bonds by the end of January to refinance its debts. Analysts say there is no guarantee that investors will buy all of those bonds, which could force Italy to default. -Telegraph

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In an interview, former Dutch politician Frits Bolkestein predicted the “inevitable” breakdown of the Euro. He says Eurobonds would be a “disastrous” idea, saying…”That means that the Netherlands must pay more interest. I have calculated that thing up to seven billion euros per year. Each year, we already have problems to eighteen billion cut in four years.” And he says he would not “shed a tear” if Italy left. Ultimately he sees the emergency of a “Neuro” comprise of Germany and other Northern European economies. –Business Insider

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10 Tipping Points Which Could Potentially Plunge The World Into A Horrific Economic Nightmare

10 Tipping Points Which Could Potentially Plunge The World Into A Horrific Economic Nightmare

The Economic Collapse
June 7, 2011

The global economy has become so incredibly unstable at this point that it is not going to take much to plunge the world into a horrific economic nightmare. The foundations of the world economic system are so decayed and so corrupted that even a stiff breeze could potentially topple the entire structure over. Over the past couple of months a constant parade of bad economic news has come streaming in from Europe, Asia and the United States. Signs of an impending economic slowdown are everywhere. So what “tipping point” will trigger the next global economic downturn? Nobody knows for sure, but potential tipping points are all around us.

Today, the global economic system is even more vulnerable than it was back in 2008. Virtually none of the systemic problems that contributed to the 2008 collapse have been fixed.

Mark Mobius, the head of the emerging markets desk at Templeton Asset Management, was recently was quoted in Forbes as saying the following….

“There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis.”

The “financial reform” law that Barack Obama and the Congress passed a while back was a complete and total joke. They might as well have written the law on toilet paper for all the good that it is doing.

We did not learn from our mistakes and our future economic lessons are going to be even more painful.

The world is drowning in a mountain of debt, the global financial system is packed to the gills with toxic derivatives, everyone is leveraged to the hilt and the dominoes could start falling at any time.

I am not the only one that is warning that another financial collapse is coming. In fact, a whole lot of people have been warning about the next financial collapse lately.

So what will the tipping point for the next collapse be?

The following are some potential nominees….

Tipping Point #1: Syria

Syria is a situation to watch very, very closely. The Syrian government is in a lot of trouble right now. Sadly, the instability inside Syria probably makes war with Israel even more likely.

Make no mistake – a war between Israel and Syria has been brewing for a long, long time and at some point it will happen. When it happens, the entire Middle East may erupt in warfare.

Just the other day, a very troubling incident happened in the area around the Golan Heights. The following is an excerpt from a report by The Daily Mailabout the incident….

“About 20 pro-Palestinian demonstrators were killed and 325 injured yesterday when Israeli forces opened fire on them as they crossed the border from Syria into occupied territories, according to reports.”

At this point, the Syrian government is probably glad that the attention has been taken off of them at least for a while. The Syrian government has been getting a lot of bad press lately. The following is an excerpt from a recent report by Human Rights Watch about the treatment of protesters inside Syria….

“The methods of torture included prolonged beatings with sticks, twisted wires, and other devices; electric shocks administered with Tasers and electric batons; use of improvised metal and wooden ‘racks’; and, in at least one case documented by Human Rights Watch, the rape of a male detainee with a baton.

“Interrogators and guards also subjected detainees to various forms of humiliating treatment, such as urinating on the detainees, stepping on their faces, and making them kiss the officers’ shoes. Several detainees said they were repeatedly threatened with imminent execution.”

So in light of the “precedent” that we recently set in Libya, does this mean that we will be “forced” to conduct a “humanitarian mission” inside Syria as well?

Syria is one tipping point that we all need to keep a close eye on.

Tipping Point #2: Iran

The Iranian nuclear program is in the news again. A new report by RAND Corporation researcher Gregory S. Jones claims that Iran could have a nuclear weapon within 2 months. His report is based on recent findings by the International Atomic Energy Agency. According to Jones, airstrikes alone would be incapable of stopping Iran’s nuclear weapons program at this point. Instead, Jones says that a “military occupation” would be required.

It is a minor miracle that a war with Iran has not erupted yet. It seems almost inevitable that at some point either the United States or Israel will use military force to try to stop Iran’s nuclear program.

When that happens, it is going to cause a major shock to the global economy.

Tipping Point #3: Libya

NATO has made it abundantly clear that Moammar Gadhafi will no longer be tolerated. In fact, NATO apparently plans to reduce Tripoli to a heap of smoking ruins if that is what it takes to bring about the fall of Gadhafi.

What a “humanitarian mission” we have going in Libya, eh? It turns out that NATO believes that the United Nations gave it permission to bomb television stations and to make attack runs with helicopters.

Russian Deputy Prime Minister Sergei Ivanov recently said that by using attack helicopters, NATO has moved dangerously close to turning the Libya operation into a ground invasion….

“Using attack helicopters, in my view, is the last but one step before the land operation.”

So why is Libya a potential tipping point?

It isn’t because Gadhafi is a threat. He is toast.

It is because the rest of the world is watching what is happening in Libya, and that is raising global tensions.

Even if Gadhafi falls, the Libyan operation will still be a failure because it has brought us all significantly closer to World War III.

Tipping Point #4: More Revolutions In The Middle East

The revolutions throughout the Middle East earlier this year sent oil prices absolutely skyrocketing and they have remained at elevated levels.

And in case you haven’t noticed, revolutions continue to sweep the Middle East.

Have you seen what has been happening in Yemen lately?

Yemeni President Ali Abdullah Saleh has burns over 40% of his body and he has suffered a collapsed lung as a result of a recent attack.

If violence and protests throughout the Middle East become even more intense as the weather warms up this summer that could have a very significant impact on world financial markets.

Tipping Point #5: Fukushima

The mainstream news has gotten a bit tired of covering it, but the situation at Fukushima is still a complete and total disaster.

Japan’s Nuclear Emergency Response Headquarters admitted on Monday that three reactors experienced “full meltdowns” in the aftermath of the earthquake and tsunami in March.

Did it really take them nearly three months to figure this out, or were they lying to the rest of the world all of this time?

The truth is that the nuclear disaster at Fukushima is far worse than the mainstream media has been telling us. If you doubt this, just check out this excellent article or this article by Natural News: “Land around Fukushima now radioactive dead zone; resembles target struck by atomic bomb“.

The economic impact of the Fukushima disaster is going to continue to unfold over an extended period of time. It turns out that Japan is now officially in a recession. Their economy contracted at a 3.7 percent annualized rate during the first quarter.

Look for more bad economic numbers to come out of Japan for the rest of the year. Considering the fact that the Japanese economy is the third largest economy in the world, the fact that they are struggling so badly right now is not a good sign for the rest of us.

Tipping Point #6: Oil Prices

The price of oil is going to continue to be one of the biggest economic stories for the rest of this year and for 2012 as well.

The last time U.S. energy expenditures were over 9 percent of GDP was in 2008 and we quickly plunged into the deepest economic downturn since the Great Depression.

Well, we have reached the significant 9 percent figure once again in 2011, and many fear that once again high oil prices will cause another major economic decline.

Tipping Point #7: Government Austerity

In the United States, it is not just the federal government that is drowning in debt.

All over America, there are state and local governments that are financial basket cases.

I don’t always agree with the time frames that Meredith Whitney puts out there, but she is absolutely correct that we are going to see a massive municipal bond crisis. The following is an excerpt from a recent report about Whitney’s predictions on CNN….

“Meredith Whitney is issuing a fresh warning to mutual funds, banks, and politicians: The state of state finances is far worse than what you think, or at least than what you’ve been willing to tell the investors and taxpayers who will eventually carry the burden.”

Many state and local governments are attempting to get their budgets balanced by making huge budget cuts. But most of the time these austerity programs also include the elimination of a lot of government jobs.

UBS Investment Research is projecting that state and local governments will combine to slash a whopping 450,000 jobs by the end of next year.

So where will the half a million good jobs come from to replace all of those lost jobs?

Tipping Point #8: The European Sovereign Debt Crisis

Greece is just the tip of the iceberg in Europe.

Moody’s downgraded Greek debt again last Wednesday. This time Moody’s downgraded Greek debt by three levels all the way down to Caa1. At this point, the yield on 10-year Greek bonds is over 15 percent.

The EU has been going crazy trying to deal with the Greek debt crisis. The truth is that a default by the Greek government would be absolutely catastrophic. If you do not understand the kind of chaos a Greek default would set off on world financial markets, just read this editorial.

But Greece is not the only major European nation with a massive debt problem.

The government of Ireland is already indicating that they may need another bailout.

Portugal, Spain and Italy are also on the verge of collapse.

So will the EU bail all of these nations out for years and years to come?

At some point will the whole house of cards come crashing down?

Everyone needs to keep watching what is going on in Europe. The status quo is not sustainable and it cannot go on forever.

Tipping Point #9: The Dying U.S. Dollar

The euro is not the only major currency that is in trouble.

The U.S. dollar is also slowly dying.

On April 18th, Standard & Poor’s altered its outlook on U.S. government debt from “stable” to “negative” and warned that the U.S. could soon lose its prized AAA rating.

The sad truth is that faith in the U.S. dollar and in U.S. Treasuries is rapidly declining. The mainstream news is not reporting on it much, but right now the Chinese are rapidly dumpingU.S. government debt.

As the dollar declines, so will the purchasing power of average Americans. We are already seeing a tremendous amount of inflation in 2011.

But this is just the beginning.

A lot worse is going to be coming down the road.

Tipping Point #10: Drought

A lot of people that read my articles doubt that we will ever see a major global food crisis.

But one is coming.

It is just a matter of time.

Even now, many areas of the world are experiencing very serious droughts. The following is from a recent Bloomberg article….

Parts of China, the biggest grower, had the least rain in a century, some European regions are the driest in 50 years and almost half the winter-wheat crop in the U.S., the largest exporter, is rated poor or worse. Inventory is dropping 8.8 percent, the most in five years, Rabobank International says. Prices will advance 20 percent to as high as $9.25 a bushel by Dec. 31, a Bloomberg survey of 14 analysts and traders shows.

Are you concerned yet?

You should be.

But if you prefer some mindless pablum that will make you feel better, we have some of that for you too.

Larry Summers, the former director of the National Economic Council under Barack Obama, recently told CNBC the following….

“We definitely hit a slower patch, but I think the basic fact that the terrible financial strains we had are abating, remains in place, and I expect this recovery to continue for a substantial period of time.”

Does that make you feel better?

Larry Summers says that everything is going to be okay.

It would be great if Summers was actually right, but sadly he is not.

In fact, the worst economic times that America has ever seen are ahead.

The following is a brief excerpt from a recent interview with Dmitry Orlov about the coming economic collapse that was posted on shtfplan.com….

First you have financial collapse, which is basically the volume of debt that has to be taken on in order for the economy to continue functioning, cannot continue. We’re seeing that right now in Greece, we’re probably going to see that in Japan, we’re definitely at a point now in the United States where even if you raised the income tax to 100 percent, there’s absolutely no way of covering the liabilities of the U.S. federal government. So, we’re at that point now but the workout of the financial collapse is not all quite there. We don’t quite have a worthless currency but that’s in the works.

That, of course, is followed by commercial collapseespecially in a country like the United States that imports two thirds of its oil. A lot of that is on credit and if a little bit of that oil goes missing then the economy starts to fall apart because nothing moves unless you burn oil in the United States and, of course, a lot of goods that are sold everywhere are imported again, on credit.

When the U.S. dollar dies and our financial system collapses we are not going to be able to get all of the things that we need from the rest of the world so cheaply any longer.

That is going to cause fundamental changes inside the United States.

Right now, the economic news just seems to get worse and worse, but this is just the beginning.

What is eventually going to happen in this country is going to be so nightmarish that most Americans could not even imagine it right now.

So are our leaders doing anything to prepare for the coming economic crisis?

No, they are too busy with other things.

The big political news of the day was U.S. Representative Anthony Weiner finally admitting that he sent out lewd photos of himself over Twitter to women that he was not married to.

We have become the laughingstock of the world and the economic collapse has not even happened yet.

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The Door is About to Shut for Americans

The Door is About to Shut for Americans

Thursday, May 26, 2011 11:40

Anyone aware of the US Government’s real financial situation knows that time is running out. The Government has $15.5 trillion in admitted debts but those debts, when calculated under Generally Accepted Accounting Principles (GAAP), or ‘honest accounting‘, is over $70 trillion. $70 trillion divided by 300 million+ Americans works out to $233,000 per person in US Federal Government debt and obligations. Or nearly $1 million per family of four.

That does not included personal debt, state debt or municipal debt.

This debt plus an economy that has been completely hollowed out by the Federal Reserve system ensures that there is no way the US Government can ever pay off this debt. And, everyone knows it.

The indications that the US Government is moving very quickly to enact any legal measure or fine against Americans and to make it nearly impossible for any American to escape payment to pay for their sins are everywhere.

We recently commented on how It Is now Easier to Enter the US Than It Is To Leave. Customs agents and cash sniffing dogs stand on guard at most international US airports checking to make sure no one has more than $10,000 in cash without declaring it. The standard response to this is: “They are only making it difficult for criminals to move about and to transfer money”.

Well, the problem is, the US Government is moving very quickly to make it so almost everyone is seen as a criminal in the eyes of the US legal system.

Now We Are All Criminals

It is already said that there are so many laws, rules and regulations in the US that each person in the US breaks at least one law per day, if not much more – without even knowing it. But the US Government is becoming more obvious in how it will go about making everyone a criminal and fining them ridiculous amounts of money in doing so.

This week, an American family who said they were just trying to teach their son about responsibility and entrepreneurship was fined $90,000 by the USDA because the teenager sold $4,600 worth of bunnies in one calendar year without a license. Not only were they demanded to pay $90,000, but if they did not pay within a short period of time the fine could increase to as high as $4 million.

This one case only goes to show how easy it is, within the system, to take any small transgression and to blackmail someone for, for all intents and purposes, every penny they have – or more.


Students to be Forced into the Military to Repay Debts

We also recently commented on how the US college system draws people into large debts (Debtucation) and how student debt is now larger than credit card debt in the US. It is the US Government itself that has made college education so expensive by offering student loans to anyone who can fog a mirror but again they have shown their intentions by making student loan debt the only debt which can not be forgiven. A 2005 decree from the Bush Administration stated that student loan debt could not be dissolved through bankruptcy proceedings. The only other scenario where this “no-escape” clause exists is debt from criminal acts and debt from fraud. In other words, student loan debt is seen, by the US Government, as being similar to proceeds from crime!

What will this mean with more young Americans in student loan debt than any other time? It’s anyones guess but it would not be out of the realm of possibility to force students who can not pay off their debt into the military to repay their debt.

And with the US military with 800 military bases worldwide with US military personnel in 156 countries and US Military bases in 63 countries and currently occupying or attacking Iraq, Afghanistan, Libya and with other drone operations in places like Yemen and Pakistan, the US is all but ensuring that it is screwing around in enough places to eventually draw in one of the big boys. Russia, China or Iran.

And, hey, we Gotta Support the Troops, right?

US Government Eyeing Pensions and Retirement Funds

On the other end of the spectrum, seniors and those in retirement, the US Government recently made it very obvious that funds held in retirement accounts are going to be the first to be taken when times get tough.

In the recent scuffle over raising the debt ceiling, the US Government was short of some funds after reaching the United States’ $14.3 trillion debt ceiling last Monday. Where was the very first place the US Government went to find new sources of funds? Last week they dipped into state pension funds in order to make payments.

It is no great leap to think that as things worsen in the US Government’s financial situation, which is all but guaranteed, that the first thing that will be nationalized will be all tax sheltered retirement accounts. After all, we all have to do our part to pay for the debts of the Government, right?

Anyone living off of US pensions should be very worried. And anyone with significant funds in retirement accounts should be running, not walking, to get any funds they can outside of the direct control of the US Government. We recommend looking at “Unleash Your IRA”, a great program for diversifying your IRA internationally.

Get a 2nd Passport

There are two ways to look at the upcoming battle between the US Government and US citizens. You can stay and fight or you can run and hide.

If you plan to stay and fight we wish you good luck and will try to support your efforts in any way we can.

If you would rather run and hide then one of the first things you should be looking to do at this time is to at least get a second passport. This is still legal for Americans and there are many options. We discuss many of them, regularly in our newsletter.

As well, if you have the financial capability, we highly recommend buying some foreign real estate – preferably somewhere you like to live. Our favorite place, at the moment, is La Estancia de Cafayate in Argentina (email them for more information at [email protected]).

2011 Last Year to Get Out

Most things are still legal in the US. It is still legal to have foreign bank accounts – although you are required by law to report them to the Government. It is still legal to get a second passport. It is still legal to move assets in your IRA outside of the country. It is still legal to move money outside of the country and buy foreign real estate.

The window of opportunity is closing. If you live in the US and still have all your assets inside of the US, you likely have months, not years, to internationally diversify your assets and to get your affairs in order. Anything much after 2011 is taking a big risk of losing it all.

The Government Can

After all, we, as individuals have to live within our means and it is considered a crime if we forcibly take money from others to pay for our debts. The Government, on the other hand? The Government Can.

The Dollar Vigilante is a free-market financial newsletter focused on covering all aspects of the ongoing financial collapse. The newsletter has news, information and analysis on investments for safety and for profit during the collapse including investments in gold, silver, energy and agriculture commodities and publicly traded stocks. As well, the newsletter covers other aspects including expatriation, both financially and physically and news and info on health, safety and other ways to survive the coming collapse of the US Dollar safely and comfortably. You can sign up to receive our FREE monthly newsletter, our Basic Newsletter ($15/month) or our Full Newsletter ($25/month) with specific stock recommendations and updates at our Subscriptions page on our website at DollarVigilante.com.

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24 Signs Of Economic Decline In America

24 Signs Of Economic Decline In America

The United States is in the middle of a devastating long-term economic decline and it is getting really hard to deny it. Over the past year I have included literally thousands of depressing statistics in my articles about the U.S. economy. I have done this in order to make an overwhelming case that the U.S. economy is in deep decline and is dying a little bit more every single day. Until we understand exactly how bad our problems are we will never be willing to accept the solutions. The truth is that our leaders have absolutely wrecked the greatest economic machine that the world has ever seen. Most Americans just assume that we will always experience overwhelming prosperity, but that is not anywhere close to the truth. We are not guaranteed anything. Our manufacturing base has been gutted, the number of jobs is declining, more Americans are dependent on government handouts than ever before, our dollar is dying and as a nation we are absolutely drowning in debt. The economists that are trumpeting an “economic recovery” and that are declaring that the U.S. economy will soon be “better than ever” are delusional. We really are steamrolling toward a complete and total economic collapse and our leaders are doing nothing to stop it.

The following are 24 more signs of economic decline in America. Hopefully you will not get too depressed as you read them….

#1 On Monday, Standard & Poor’s altered its outlook on U.S. government debt from “stable” to “negative” and warned the U.S. that it could soon lose its AAA rating. This is yet another sign that the rest of the world is losing faith in the U.S. dollar and in U.S. Treasuries.

#2 China has announced that they are going to be reducing their holdings of U.S. dollars. In fact, there are persistent rumors that this has already been happening.

#3 Hedge fund manager Dennis Gartman says that “panic dollar selling is setting in” and that the U.S. dollar could be in for a huge decline.

#4 The biggest bond fund in the world, PIMCO, is now shorting U.S. government bonds.

#5 This cruel economy is causing “ghost towns” to appear all across the United States. There are quite a few counties across the nation that now have home vacancy rates of over 50%.

#6 There are now about 7.25 million less jobs in America than when the recession began back in 2007.

#7 The average American family is having a really tough time right now. Only 45.4% of Americans had a job during 2010. The last time the employment level was that low was back in 1983.

#8 Only 66.8% of American men had a job last year. That was the lowest level that has ever been recorded in all of U.S. history.

#9 According to a new report from the AFL-CIO, the average CEO made 343 times more money than the average American did last year.

#10 Gas prices reached five dollars per gallon at a gas station in Washington, DC on April 19th, 2011. Could we see $6 gas soon?

#11 Over the past 12 months the average price of gasoline in the United States has gone up by about 30%.

#12 Due to rising fuel prices, American Airlines lost a staggering $436 million during the first quarter of 2011.

#13 U.S. households are now receiving more income from the U.S. government than they are paying to the government in taxes.

#14 Approximately one out of every four dollars that the U.S. government borrows goes to pay the interest on the national debt.

#15 Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago.

#16 Total credit card debt in the United States is now more than 8 times larger than it was just 30 years ago.

#17 Average household debt in the United States has now reached a level of 136% of average household income. In China, average household debt is only 17% of average household income.

#18 The average American now spends approximately 23 percent of his or her income on food and gas.

#19 In a recent survey conducted by Deloitte Consulting, 74 percent of Americans said that they planned to slow down their spending in coming months due to rising prices.

#20 59 percent of all Americans now receive money from the federal government in one form or another.

#21 According to the U.S. Bureau of Labor Statistics, the average length of unemployment in the U.S. is now an all-time record 39 weeks.

#22 As the economy continues to collapse, frustration among young people will continue to grow and we will see more seemingly “random acts of violence”. One shocking example of this happened in the Atlanta area recently. The following is how a local Atlanta newspaper described the attack….

Roughly two dozen teens, chanting the name of a well-known Atlanta gang, brought mob rule to MARTA early Sunday morning, overwhelming nervous passengers and assaulting two Delta flight attendants.

#23 Some Americans have become so desperate for cash that they are literally popping the gold teeth right out of their mouths and selling them to pawn shops.

#24 As the economy has declined, the American people have been gobbling up larger and larger amounts of antidepressants and other prescription drugs. In fact, the American people spent 60 billion dollars more on prescription drugs in 2010 than they did in 2005.

http://theeconomiccollapseblog.com/archives/24-signs-of-economic-decline-in-america

Why Investors Are Buying Silver As If There Is No Tomorrow

Why Investors Are Buying Silver As If There Is No Tomorrow

The American Dream
April 23, 2011

The price of silver has been absolutely exploding lately. It has reached heights not seen since the Hunt Brothers attempted to corner the silver market over three decades ago. But this time there are no Hunt Brothers to blame for the stunning rise in the price of silver. So exactly why are investors buying silver as if there is no tomorrow right now? Well, the truth is that there are a lot of reasons. Investors have been flocking to precious metals such as gold and silver as the value of paper currencies has declined. The euro is incredibly weak right now and the U.S. dollar appears to be on the verge of a major collapse. In fact, the entire financial system is highly unstable right now. In such an environment, investors seek some place safe to park their money, and right now gold and silver are seen as safe harbors. But gold and silver have not been going up in price at the same pace. So why is silver outperforming gold so significantly?

The price of silver has increased by more than 150% over the past 12 months. But the price of gold has only gone up about 30%.

If you invested $100 in the S&P 500 ten years ago it would be worth about $107.48 today.

If you invested $100 in gold ten years ago it would be worth about $569 today.

If you invested $100 in silver ten years ago it would be worth about $1037 today.

Clearly something is going on with silver.

Many people are convinced that this is part of a correction that is long overdue. Geologists tell us that there is approximately 17.5 times as much silver in the crust of the earth as there is gold. But today the price of an ounce of gold is about 30 times higher than the price of an ounce of silver.

That would seem to indicate that the price of silver still has a lot of room to grow relative to the price of gold.

In addition, silver is a key industrial commodity and it is constantly being used up. Today, silver is used in a vast array of products and medicines. The following is an excerpt from an official U.S. government report that describes just some of the ways silver is used in society today….

Silver’s traditional use categories include coins and medals, industrial applications, jewelry and silverware, and photography. The physical properties of silver include ductility, electrical conductivity, malleability, and reflectivity. The demand for silver in industrial applications continues to increase and includes use of silver in bandages for wound care, batteries, brazing and soldering, in catalytic converters in automobiles, in cell phone covers to reduce the spread of bacteria, in clothing to minimize odor, electronics and circuit boards, electroplating, hardening bearings, inks, mirrors, solar cells, water purification, and wood treatment to resist mold. Silver was used for miniature antennas in Radio Frequency Identification Devices (RFIDs) that were used in casino chips, freeway toll transponders, gasoline speed purchase devices, passports, and on packages to keep track of inventory shipments. Mercury and silver, the main components of dental amalgam, are biocides and their use in amalgam inhibits recurrent decay.

Estimates vary, but many experts are now projecting that at current consumption rates we will run out of silver at some point during this century.

A d v e r t i s e m e n t

On the other hand, we are not facing a similar problem with gold. Gold, because it has traditionally been so expensive, is not used in many products at all. The total amount of gold on earth just continues to increase each year.

Silver is also considered to be a lot more accessible for smaller investors. Not many average Americans can afford to do much investing in gold because it is so expensive. But just about anyone can afford a few ounces of silver.

As investors around the globe have watched the Federal Reserve create endless amounts of money and as they have watched the U.S. government borrow endless amounts of money the hunger for precious metals has grown.

The following is what John Browne had to say about the current situation in a recent commentary….

Today, with the Federal Reserve treating the greenback as a never ending lottery ticket for deficit spending politicians, many investors feel the U.S. dollar is good for nothing. As a result there is an increasing international pressure to remove the U.S. dollar’s reserve status. Given that there is no widely accepted alternative to the dollar (the euro has many problems of its own), this is creating fears of an international currency crisis, which has fueled interest in precious metals.

As the U.S. dollar and other paper currencies continue to decline, the demand for precious metals such as gold and silver is only going to increase.

Most investors are not stupid. They know that the European debt crisis is approaching a meltdown. They know that U.S. government debt is not sustainable. They know that all of the paper currencies around the world that are backed by nothing will continue to decline in value just like they always have. All of the major central banks have been recklessly printing money. In such an environment it only makes sense to put your wealth into hard assets.

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But there is another layer to all of this. Many now view investing in precious metals as a way to rebel against the Federal Reserve and other central banks. All over the globe people are waking up to how unjust the banking system is. Since central banks such as the Federal Reserve are almost completely unaccountable politically, many individuals have sought other ways to protest the system. Getting out of “Federal Reserve Notes” and into precious metals is one small way to do that.

In any event, what is clear is that the price of silver is likely to continue to go up over the long-term. Silver is used in thousands of products and we are slowly running out of it. Meanwhile, the central banks of the world are absolutely flooding the globe with paper currency. What all of that adds up to is a much higher price for silver.

http://www.infowars.com/why-investors-are-buying-silver-as-if-there-is-no-tomorrow/

Obama on higher gas prices – GET USED TO IT!

Obama says little short-term help for gas prices, pushes clean energy, says he can do little to affect gas prices in the short term


Darlene Superville, Associated Press, On Wednesday April 6, 2011, 3:26 pm

FAIRLESS HILLS, Pa. (AP) — Pitching the promise of energy independence, President Barack Obama cautioned Wednesday that it’s going to be tough to transition from America’s oil-dependent economy and acknowledged there’s little he can do to lower gas prices over the short term.

“I’m just going to be honest with you. There’s not much we can do next week or two weeks from now,” the president told workers at a wind turbine plant. It’s a theme Obama’s struck before as he tries to show voters he’s attuned to a top economic concern with gas prices pushing toward $4 a gallon.

Obama said he wants to move toward “a future where America is less dependent on foreign oil, more reliant on clean energy produced by workers like you.” That will happen by reducing oil imports, tapping domestic energy sources and shifting the nation to renewable and less polluting sources of energy, such as wind, the president says. He has set a goal of reducing oil imports by one-third by 2025.

But the president said it won’t happen overnight and if any politician says it’s easy, “they’re not telling the truth.”

Gas prices? They’re going to still fluctuate until we can start making these broader changes, and that’s going to take a couple of years to have serious effect,” Obama said.

Obama needled one questioner who asked about gas prices, now averaging close to $3.70 a gallon nationwide, and suggested that the gentleman consider getting rid of his gas-guzzling vehicle.

“If you’re complaining about the price of gas and you’re only getting 8 miles a gallon, you know,” Obama said laughingly. “You might want to think about a trade-in.”

The president spoke at a town hall meeting at Gamesa Technology Corp., a Spanish company that makes giant turbines that use wind to generate electricity. According to the White House, it is the first overseas company of its kind to set up shop in the U.S.

Back in Washington, negotiations continued on a budget deal to avert a government shutdown Friday and Obama urged lawmakers to get it done. The president said he wants to cut spending, but not at the expense of cutting priorities like energy and education.

As fuel prices rise because of growing demand worldwide and political unrest in oil-producing nations in North Africa and the Middle East, drivers are feeling pinched at the pump. Republicans blame Obama and his policies and he, in turn, is striving to show the public that he gets it.

Gasoline prices rose another 2 cents Tuesday to a new national average of just over $3.68 a gallon, according to AAA and other sources. Obama’s visit to Gamesa was his fourth energy event since March 11. He’s scheduled a fifth for Friday in Indianapolis.

Obama argues that shifting to cleaner and domestic energy sources will help create jobs and boost U.S. competitiveness.

Education is another item on Obama’s competitiveness agenda. That issue was to be the focus of a speech he was giving later Wednesday to the Rev. Al Sharpton’s civil rights group in New York City. Obama’s appearance keeps a promise he made to the National Action Network when he spoke there as a presidential candidate in 2007. Obama pledged to return, win or lose.

He returns just two days after launching his re-election bid. He is facing a key constituency that at times has scolded him for not being attentive enough to certain issues, such as double-digit black unemployment, but continues to hold him in high regard.

Obama deflects such criticism by arguing that his polices to expand the economy, create jobs and improve the education system, among other goals, will help the country as a whole, blacks included.

Ninety-five percent of blacks who voted, opted for Obama in 2008. A Gallup poll released last week showed his job approval among blacks holding at 84 percent, about the same as six months earlier.

AP National Writer Jesse Washington contributed to this report.

http://finance.yahoo.com/news/Obama-says-little-shortterm-apf-1680912387.html?x=0&.v=4