Global Economy Bursting?

[Randolph Kinney]

US Silver Coin Sales Hit An All-Time High In January

http://www.businessinsider.com/amer...ings You Need To Know Before The Opening Bell

American Eagle silver coin sales in January surged to an all-time monthly high as the U.S. Mint resumed sales after huge demand triggered a brief suspension, and gold coins also posted their best performance since July 2010.

As of January 29, silver Eagle sales for the month were 7.1 million ounces, data from the U.S. Mint's website showed, surpassing its previous record of 6.1 million ounces set in January 2012.

"They are buying the entire 500-ounce boxes that are sealed by the U.S. Mint, that's what people want right now," said Beahm, referring to the standard sealed silver Eagle "monster" box containing 500 one-ounce coins the Mint sells only to its handful of authorized wholesalers.

Earlier this week, the Mint resumed supplying silver Eagles after it halted sales on January 17 as soaring demand depleted its stock.

 

[Pittsburgh Pete]

Two plus years and still haven't heard that ominious "pop." Is it coming soon?

 

[Riick]

Try not to get too upset about Gubmint stealing
your retirement money and 75% of your kidz inheritance.

Get too upset and you'll end up with "The Thorazine Shuffle" ( Link )

Those Lousy MFs
​

 

[Restrain]

The economy actually contracted in the last quarter of the year. Much of the expansion in the economy outside a few states is a result of accounting twisting of the figures. The actual percentage of employable people working has dropped to the lowest level since records have been kept -58%. The unemployment figures presented by the govt are no longer relevant. The number of people actually working is now the more relevant number.

 

[Terrel L. Shields]

The actual percentage of employable people working has dropped to the lowest level since records have been kept

Notice that applications for disability SS has increased by 100%. Suddenly everyone got sick or injured??? No. They are attempting to game the system for a lack of work that they can do.

I know a lot of 60ish employees who were laid off who will never hold down another full time job. They can't. They have not got the training, nor the time to retrain. They are living on early pension and when they can qualify, SS disability after the unemployment insurance runs out. I drink coffee with one every week. He's been out of work since his plant shut down 2 years ago. He has failed the physical for other employers so often that he did qualify for disability and lost his CDL license because of his blood sugar though he has never passed out or had a problem in that way. High BP, diabetes, and overweight is a common attribute to older workers and employers avoid you like the plague. He is living off SSI and his retirement while his wife continues to work. They get by. That's all.

 

[Randolph Kinney]

The Next Great(er) Recession Now Baked In The Cake?

http://www.forbes.com/sites/michael...next-greater-recession-now-baked-in-the-cake/

 

[Restrain]

Here is the next hit, sure to shatter the economy. The IRS has released data regarding Obamacare when it is fully implemented in 2016. For a family of 5, the cost is estimated to be $20,000! The average family income is approximately $45,000. There is no way businesses will pay this. They will pay the $2400 penalty and eliminate health coverage. Families will not be able to pay it. And if you think Medicare and Medicade is adversely affecting the US budget, what do you think will happen when the US attempts to provide minimum coverage to every US citizen? The house of cards will collapse.

 

[Randolph Kinney]

The Affordable Care Act was designed to fail. It will destroy the private insurance market. The public will clamor for a single payer (government) plan like Medicare.

In the meantime, all individuals will be affected.


Some Unions Grow Wary of Health Law They Backed

http://finance.yahoo.com/news/unions-grow-wary-health-law-034700539.html?l=1



Obamacare loophole threatens UC students

http://www.sfgate.com/health/article/Obamacare-loophole-threatens-UC-students-4234269.php#page-1



Federal Rule Limits Aid to Families Who Can’t Afford Employers’ Health Coverage

http://www.nytimes.com/2013/01/31/u...?nl=todaysheadlines&emc=edit_th_20130131&_r=0



W-2 forms now listing health care costs

http://www.sfgate.com/business/networth/article/W-2-forms-now-listing-health-care-costs-4237726.php


The biggest tax increase will come by eliminating the tax deduction for medical insurance premiums.

 

[Terrel L. Shields]

tax increase will come by eliminating the tax deduction for medical insurance premiums

My health care premiums are nearly 40% of my taxable income. I will easily pay an additional $6000 in taxes when it it fully implimented.

 

[Terrel L. Shields]

You see, even if private banks cease their money printing activities, activities that are currently running at a robust year-over-year rate of 15.2% (see the first table), there is still a near certain swath of inflation to come. The reason: Chairman Bernanke’s latest QE program is poised to add $85 billion a month to the money supply until he and the rest of his FOMC team deem the economy healthy enough to survive without it. That means an annual rate of monetary inflation of roughly 10% (on a current TMS2 footing of $9.3 trillion) until further notice.

Curbing the inflation of the 1970s required driving down the M1 money supply which sent us into a recession...a deep recession, circa early 1980s. It collapsed commodity prices - oil, grain, lumber, metals.

The lower oil and lumber prices spurred building and reduced manufacturing costs with the downside that 1,000,000 oil field workers lost their jobs and farmers (and farmland) went into recession and foreclosure. Today with land prices so high, I think farmers in particular are set up to "blow up" if weather patterns improve and prices fall. They cannot cash flow $10,000 an acre land except with good crops combined with excellent (above average) prices.