The dollar headed for its biggest monthly loss since 2008 versus the euro as signs the U.S. economy is slowing damped demand for the nation’s assets.
The dollar was set for a quarterly drop versus all of its major counterparts before data forecast to show U.S. business activity and manufacturing slowed. Federal Reserve Chairman Ben S. Bernanke is scheduled to testify in Washington today amid speculation the central bank is preparing to buy more U.S. debt. The yen approached the strongest since the Bank of Japan intervened amid speculation exporters are bringing home overseas earnings before the end of the fiscal first half.
“America’s economic growth seems to be decelerating,” said Tsutomu Soma, a bond and currency dealer in Tokyo at Okasan Securities Co. “This is a negative factor for the dollar.”
Food Prices Soaring
Repeated warnings about food stores and rising prices over the last year have gone unheeded by the masses, who remain concerned about stock markets, Mike ‘The Situation’ and Snookie’s next Jersey Shore party destination, and whether or not they will be able to upgrade to the next iteration of the iPhone before the Jones family next door.
But while Americans continue to put focus on consumption, a hidden menace is creeping up and will eventually spill into the mainstream - albeit too late for those who weren’t paying attention. Though not yet reflected in day-to-day retail prices of food, it’s only a matter of weeks or months before consumers start to realize their grocery bills are increasing by 20%, 30% or more.
Just another reason to be stocking up on food - rising prices! Just another reason to get rid of your soon-to-be worthless dollars - buy food! Real assets, real money (gold/silver) is the only way to survice the coming depression!
ReplyDeleteWent to the market yesterday...Things that I bought 2 weeks ago and was restocking are now all up about I would say from 5%-25%...(My fav juice shot up 40%!)...I stocked up on paper towels and tp and will probably making a run at Costco over my girl's objections.
ReplyDeleteWhy can't women see it???
12:55 - I've done the same thing. I'm stocking up at Costco and Sam's Club. My plan is to have at least a year's supply of food and other supplies. Prices are exploding and it's best to convert my soon-to-be worthless dollars into something REAL and which can keep my family and I alive during the coming collapse.
ReplyDeleteLast week we had less than 75% of our shopping cart filled. It was $237.54 :o
ReplyDeleteI said “HOLY SHIT” then got elbowed in the ribs by the old lady.
yeah still cheaper now then will be later. watch crude prices too as other commodities are already rising
ReplyDeleteWhat cities are you all shopping in and what are you buying? They still have 3 cans of corn for $1.00, box of pop-tarts .99 here in Houston, TX.
ReplyDeleteLet them go up 100%
ReplyDeleteI raise 90% of what we eat
Maybe people will get a little smart and start their own garden, it's not rocket science you know - but alas; does require --- Oh NO ! WORK
4:23
ReplyDeleteCorn has little nutritional value. Look at your turds before you flush. You will see that three for a dollar going right down the toilet. Pop Tarts are shitty too.
4:23
ReplyDeleteNot everyone lives where they can grow on there own land you self centered prick.
Eit: 4:57
ReplyDelete4:57 - Yes, this is the direction we are headed. People will start raising more of their own food. I read recently that MILLIONS of people have started gardens in the past year; the number was astronomical. From microgardens in cities to large acreage in rural areas. We are in suburbia but we have plenty of land to grow gardens. Lawns can always be converted to gardens.
ReplyDeleteGood eye, 4:58! One good look in the toilet bowl would certainly convince me not to waste my precious gas driving all the way down to Houston! ha ha
ReplyDeleteIts not the food prices going up it’s the dollar value dying.
ReplyDeleteThe fact is since the gold “backed” dollar was fully abandoned under Nixon it has been the dollar hegemony of fiat debt paper in world trade and finance that has enabled continuing prosperity , cheap goods in a de-industrialized America and even the development of a Ponzi finance economy .
The Dollar hegemony was enabled by the military backed pricing of oil in dollars by the Saudi Puppet centered OPEC monopoly .this confidence support for the dollar enabled government deficit spending of the same fiat paper dollars for wars .
America is no longer a competitive commodity manufacturing power, it is a has been, except for arms manufacturing.
Its world power only rests on a combination of military and dollar printing power.
The collapse of the Ponzi after the US sold to the rest of the world trillions of dollars in fraudulent bonds and the US turn to money printing to prop up the system , creates a devaluing dollar, that will crash any remaining “confidence” in the US paper as the world standard of value.
The US , in the last decade ,through money printing ,has been manipulating the value of the dollar lower in exchange with other currencies.
After a “successful” devaluation of the Euro by the US and IMF and the stitching the European Union currency union back together by The Fed lending US dollars ,the US is now threatening more currency wars (especially against China) to try and maintain the world dollar hegemony advantages.
This path, of beggaring, the world neighbors by currency value wars , may only provoke a round of competitive devaluations , weakening the US economy itself. As happened in the last Great depression.
Defeated financially , the US may then turn to “other means” in a last ditch desperate attempt to enforce its will in the world .By expanding into even more open wars .
Iran for example, increasingly refuses to sell its oil and gas priced in dollars.
As Saddam did . Thus as then ,Iran sends the paper dollar hegemonists into an insane belligerent war frenzy as world “confidence” in the paper dollar backing by oil is being seen to be lost . War is threatened as the “solution” on Iran , as in Iraq.
So, Iran is portrayed in US propaganda as a crazy nuclear threat ,but the real threat that worries America is their national independence and the threat of its oil used for
trade alliances with other third world developing countries ,including China, that threatens the dollar hegemony.
Afghanistan,is not really about women’s lib ,but is seen as of great world military and strategic resources importance, to America and its NATO allies .
It is suspected by many, that apart from the obvious military encircling of Iran that the massive expansion of military bases throughout Asia is pointed at China and Russia.
The war in Afghanistan involves not only Gas and oil reserves and strategic pipelines, but also as in the horrific Congo wars , is over the strategic control of the rare earth materials necessary for modern computers and communications.
China Is the biggest near monopoly world source of some of these rare earths.
Any gold backed dollar would only put the dollar on an equal footing with other gold backed currencies . This would then lead to the loss of Any US dollar hegemony advantages.
Thus for the ruling Elite , ‘goldbugs” demanding a gold backed dollar are seen as objectively traitors destroying confidence in the dollar and current economic system of the US Empire.
A gold backed dollar will not be allowed for America until the Fiat paper dollar hegemony is destroyed by a complete “confidence” failure .
At such a time, the Ruling Elite, may then attempt to assert its rule by creating a new partially “gold backed dollar ” currency scam .
But , not a currency “fully convertible” into gold.
Far fetched?
ReplyDeleteWould the US really fight massive wars costing billions over a little bit of “rare earth’ materials in afghanistan ?
Or is this just a Conspiracy theorist wearing a rare earth hat instead of the usual tin foil hat ?
Well ,you did recently hear the report from the US military of surveys on a “trillion dollar” mineral resources find , right?
We know the CIA always gets “down in the dirt” involved in fighting “against” drugs
But , in just what minerals would the military be interested in and ready to fight for in Afghanistan?
If you are interested Bloomberg did a wide ranging survey just the other day on rare earth elements and how essential they are to the US military. See :
“Pentagon Loses Control of Bombs to China Metal Monopoly”
http://www.bloomberg.com/news/2010-09-29/pentagon-losing-control-of-afghanistan-bombs-to-china-s-neodymium-monopoly.html
Or see:
"The real reason for the war in Afghanistan ?"
Control of rare strategic metals in Afghanistan
Ever wonder why Soviets sent troops and tanks into Afghanistan in the 1970’s into what many returning troops have called a country with God-forsaken mountains and passages. Why are American, Canadian, British, and other NATO troops stationed there today?
The Taliban, terrorists, drugs, poppies, proximity to nukes in Pakastan, protecting future regional oil pipelines, etc you say…of course...that’s all true now-the official line.
But Afghanistan has something far more precious that the rest of the world wants and needs-four unexplored rare metals- lithium, caesium, tantalum and niobium. ..and more at
http://smarteconomy.typepad.com/smart_economy/2009/09/the-real-reason-for-the-war-in-afghanistan-control-of-rare-earth-metals-in-afghanistan.html
Yep... food prices are rising.
ReplyDeleteI shop at BJ's Wholesale Club. Earlier this year, a four-pack of beef ribs ran about $40. Each pack has four racks of ribs, and each rack has four bones and can easily feed four people, one large rib each person.
Now it's $50-$60 for each four-pack.
And, it's not just food itself. It's cooking items.
A few years ago, disposable aluminum baking trays were 99 cents. Now they cost $3 to $4. I was stunned!
I plan to spend a lot of money tomorrow at BJs... I suggest you guys stock up on canned food (beans, tuna fish, chili, soup, etc). Lasts forever, quick food and all you need is a can opener. And I'm also buying a TON of water.
(and if you have not yet done this, invest in a firearm and some ammunition. you may need it one day.)
I like to stock up on things like sugar, coffee, and liquor. Spices are good too. Some of these things can go a bit stale, but they are still usable for a long time. Watch out which canned foods you get; look for expiration dates. So does water.
ReplyDeleteYou can grow plants in small containers. You don't need land to do it.
Finally, my bitching about price inflation over the last two years is getting noticed--because the prices are shooting even higher. A depression and two wars and the sheeple still aren't protesting. Maybe not affording food will finally do it.
Am reading "The World Made By Hand", interesting book about America after a couple catastrophes. People miss almost every kind of food except corn bread! They seem to really miss spices; since all trade from Europe has ceased. Stock up on pepper, cinnamon, and those things that can make crappy food taste better. Even though the book is fiction you get a sense of what life would be like. Scraping by all day, every day!!!
ReplyDeleteLETS JUST PRAY WE ARE GOOD ENOUGH TO GO BE WITH THE LORD ON HIS RETURN,,,,,,BLESS ALL OF YOU
ReplyDelete