The Golden Truth: A Very Interesting Economic Survey

Sunday, September 12, 2010

A Very Interesting Economic Survey

"Two-Thirds of Americans Expect Double-Dip Recession, Brace for Second Hit Worse Than the First"

This is a quick read, and I sourced this LINK from Ed Steer's Gold and Silver Daily report. The polling results show that an overwhelming percentage of Americans are planning to cut way back on their spending between now and the end of the year, including 79% of the respondents saying they planned on spending less money for the holidays.

70% of all economic activity over the last decade was derived from consumption. The only possible way to stimulate more consumption is to have Bernanke engage in his infamous "helicopter drop" of cash and to have the Government borrow and spend a massive amount of money.

Short of this we face systemic collapse. And for the record, anyone still living in the delusion being fed to us by the mass media is clearly not looking at the Truth, which is contained in the numbers from the survey linked above.

2 comments:

DebraSunday, 12 September, 2010
We've been addictively carburating on an economy based SOLELY on consumption for TOO long now.
IF things collapse, we may have lots of time to.. cultivate our gardens.
My mother's cousin made it through the Great Depression with her 12 other siblings thanks to the family's garden.
OTHERWISE.. they might NOT have made it..
Let's hope THE SOIL is still up to it after our monstrous effort to sterilize it since WW2...
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EconomicDisconnectSunday, 12 September, 2010
Well the Pats defense is now young, fast, and hits like George Foreman! They looked scary good.

Cannot believe the Broncos could not pull that one out today?

I have aged steaks cooked up and pictures posted if interested.
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.