Global Economy Bursting?

[Workbox]

Oh, it's had an impact alright... record high food prices and oil prices the highest since mid 2008 and heading much higher if they don't stop.

I've had my doubts about Bernanke from day one. But this idiot thinks there is no inflation http://www.minyanville.com/business...easing-qe2-inflation-scott/12/6/2010/id/31531

Sure, you don't have to worry about the price of gas if the Fed is cruising you around in a Limo. You don't have to worry about the price of food if your tab is picked up by the taxpayer. You don't have to worry about health care.

The man is an idiot if he honestly thinks we are not inflating and the dollar shrinking like a piece of bacon.

I am finding that Sams Club is no longer a bargain. I found better or similar bargains at the regular stores for fruits and vegetables.

 

[The Warrior Monk]

I am finding that Sams Club is no longer a bargain. I found better or similar bargains at the regular stores for fruits and vegetables.

I go to Costco, and most of the stuff I buy is substantially cheaper than the supermarket...the caveat being that most stuff has to be bought in bulk. I also buy at the Oriental grocery store when possible, which has plenty of hard-to-find items at rock bottom prices.

 

[Terrel L. Shields]

Aldi's

Farmers Market

Grow my own...

As long as they make glass windows in the grocery stores I won't starve

 

[Randolph Kinney]

U.S. 10-year yields rise to highest level since June

http://www.marketwatch.com/story/us-10-year-bond-yields-push-past-june-highs-2010-12-08

The yields touched 3.34%, the highest level in six months and up from 2.94% on Monday.

 

[Randolph Kinney]

There was a a massive selloff in the broader bond market today, clearly a warning of things to come. However the muni bond situation is the most alarming. States like California are underwater and this could be the BLACK SWAN - investors are scared.

Between Bernanke throwing trillions of dollars in to the markets and now Obama and the republicans striking a deal that blows another $900 billion, is there anything left for the states?

 

[Randolph Kinney]

California Budget Shortfall Is Bleak

http://online.wsj.com/article/SB10001424052748704447604576007791328281996.html

The budget shortfall is larger than expected; $28.1 billion instead of $25.4 billion. The humor is, Governor-elect Jerry Brown gave few indications of how he proposed to balance the budget. He is opposed to borrowing to balance the budget.

Running out of money is always an option.

 

[Terrel L. Shields]

that blows another $900 billion

Reps were elected to restore fiscal responsibility, argue they are worried for the health of SS, yet will cut SS contribution as well as extend Bush tax break. Well, so if we are going to cut spending, who starts? The obvious choice is the sacred cow, the military. When will we stop being the world's policeman? Reps are no better at cutting cost than the dems... the obvious choice in lieu of concensus is to freeze all tax cuts and freeze all spending. Bernanke is going to inflate us out of this mess if we get out at all. Face it. We are screwed. Expect $100 oil soon. Expect $15 soybeans and $8 corn.

 

[Lloyd Bonafide]

25 Very Depressing Unemployment Statistics:

http://theeconomiccollapseblog.com/...istics-that-are-almost-too-depressing-to-read

Some of the worst ones:

- The U.S. economy would need to create 235,120 new jobs a month to get the unemployment rate down to pre-recession levels by 2016.

- As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time that less than 12 million Americans were employed in manufacturing was in 1941.

- The United States has lost over 42,000 factories (and counting) since 2001.

 

[Terrel L. Shields]

The United States has lost over 42,000 factories (and counting) since 2001.

NAFTA Really saved our hide didn't it?

 

[Austin]

This article marks a milestone in the decline of the US Progressive political/economic Model. What this article says is that the days of NASA under the new emerging private conservative free enterprise space program model began their decline yesterday and marks the beginning of the end NASA. From now on NASA will be a useless but expensive government bureau like the departments of engergy, eduction and Indian affairs. It is interesting to watch this all slowly unravel and come apart right under their noses. The new order is emerging even as the old order slowly collapses. Free enterprise always wins in the end. "Truth when crushed to earth shall rise again. The eternal years of God are hers, but error wounded writhes in pain and dies amid its worshipers."

A space-age first: A commercial craft returns from low-Earth orbit

http://www.cnn.com/2010/US/12/08/space.flight/index.html?section=cnn_latest