More Job Loss: Jack In The Box Closing 40 Stores

NASHVILLE, Tenn. – At least one local "Jack In The Box" will be among 40 stores closing nationwide.

"Jack in the Box" is scrambling to close 40 restaurants by October 3 in seven states in the Southeast, including Texas.

A couple of the employees at the "Jack In the Box" on South Gallatin Road said they were notified on Tuesday that the store would close at 1 a.m. Wednesday night.

The reason is that the stores are under-performing, according to a statement from the company.

"They're angry, upset. Some of them are single mothers. I mean, we need our job," said worker Tierra Mason. "I'm a single parent and we have other single mothers that are up here working hard. And we don't know what we're going to do. It's hard to find a job these days."

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Ecuador Declares State of Emergency Amid 'Coup Attempt'

Rafael Correa was forced to flee a protest when tear gas was fired

A state of emergency has been declared in Ecuador after President Rafael Correa accused the opposition and security forces of a coup attempt.

Mr Correa was taken to hospital after being hit by tear gas at a protest. Later reports spoke of fresh violence outside as he was being treated.

Continue reading the main story

 

“Start Quote

If you want to kill the president, here he is. Kill him, if you want to. Kill him if you are brave enough”

End Quote Rafael Correa President of Ecuador

Troops also took over the main airport, forcing it to close. Unrest has been reported across the country.

The protesters are angry at a new law that cuts benefits for public servants.
The dramatic events began on Thursday morning, when members of the armed forces and police angry at the austerity measures occupied several barracks and set up road blocks across the country to demand the austerity measures be abandoned by the government.
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Spain: Ten Million Workers Take Part in General Strike 

Dollar Collapsing, Food Prices Soaring

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.”

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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.

Food Stamps To Be Cut

Congress is poised to cut food stamps, taking away an extended benefit created by the 2009 stimulus before its original expiry date and setting up an unprecedented “cliff” in food stamps, now known as Supplemental Nutrition Assistance Program, or SNAP, benefits. To demonstrate how hurtful this might prove, anti-hunger advocate Joel Berg recently spent a week eating according to the SNAP budget.


“I had done it in 2007, as well,” he said. “This time, it was much harder, because the price of food has increased more than the benefit has increased. Last time, for instance, I ate an apple a day, along with other food. This time, I couldn’t afford a single piece of fruit.”


Berg is the executive director of the New York City Coalition Against Hunger, which represents New York’s 1,200 nonprofit soup kitchens and food pantries and its 1.4 million residents that cannot afford enough food. (A more extended version of our conversation is below.) He and other hunger advocates are incensed over the SNAP cuts, which will pay for a sweeping child-nutrition bill. The First Lady–supported legislation is pending in the House, and has passed the Senate. In essence, Congress is planning to rob a very poor Peter to pay a very poor Paul.


The cliff in food stamps means that one month, a family will receive a set amount of money, about $4.50 per person per day. The next month, they will get less. In his week eating according to the SNAP budget, Berg shopped for the first three days as if he received full benefits. For the second two, he shopped as if he received cut benefits. The result? Less food, or less healthy food.
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Economic Collapse Update: Acceleration In Autumn

Our current economy is a shell game. A grand fraud designed to siphon more and more tangible wealth (not fiat wealth) from the average person and transport it post-haste into the silk lined pockets of a corporate banking minority. The goal? To reduce the self sufficiency of American citizens to the point of total fiscal and social dependence on the top 1% richest men in the world. Conspiracy theory? Not in the slightest. Just a cold hard fact of history. “Feudalism” is, sadly, rampant in the annals of human culture. Anyone who believes that our modern era is somehow different is simply fooling themselves. Elitists seek power over others, they always have and they always will, and, the most efficient way to gain control over the lives of the masses is through engineered imbalances in economy.

Every time you hear the term “bailout”, or “quantitative easing”, just think “wealth transference”. Every dollar that is printed from thin air by the private Federal Reserve and handed to a globalist entity like Goldman Sachs or AIG through our Treasury represents yet another dollar of debt (and another percentage of interest) that you, the U.S. taxpayer, and your children, are expected to eventually pay for without ever seeing any benefits. Right now, at this very moment, you and your descendants for generations to come are being enslaved by forcefully imposed usury. Our country has been “volunteered” for a financial debasement on a scale that dwarfs the Great Depression or even the Weimar catastrophe. We ignore this reality at our peril.

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Capital Controls Eyed as Global Currency Wars Escalate

This Will End Badly: House Voted To Penalize China (Trade War)

We're not sure what they hope to accomplish with this, but the House has voted 348-79 to penalize China for its practice of fixing the yuan to the dollar, at a level which foreign exchange experts in Congress believe to be too low.
WSJ:

The measure would allow, but not require, the U.S. to levy tariffs on countries that undervalue their currencies. The bipartisan support highlights lawmakers' long-simmering frustration with Chinese trade practices as well as their sensitivity to the faltering economic recovery with elections looming. It's the strongest trade measure aimed at China to make it through a body of Congress after more than a decade of legislative threats by U.S. lawmakers.

We doubt this will go anywhere in the Senate, which is gridlocked beyond all rhyme and reason, but the message is sent.
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More Lost Jobs: Caterpillar To Build Another Factory In China

NEW YORK (AFP) – Caterpillar, the world's largest manufacturer of construction equipment, will build a factory in China to produce mini hydraulic excavators, the company said in a statement.

Construction will begin in Wujiang, near Shanghai, at the end of 2010 and the facility should be ready in 2012 to begin production of mini excavators of less than eight tons, the company said Tuesday.

Caterpillar did not say how much the project will cost.

It is part of a long-term plan for investments in China that will make Caterpillar one of the leading manufacturers of construction equipment in the country.

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Mortgage Fraud By The Thousands : Finally Admitted

One Oz Of Gold: One Years Wages?

One once ounce of gold : one year's wage, One ounce of silver : one month's wage

Share this article | Source: GoldSeek.com

You think I am crazy?

I have been ridiculed, dismissed, hated and now I am feared, but no one has given me a reason to change my view.  I am still listening.

Unbacked paper money is fraud.  Most of the wealth is the world is an illusion.

Real wealth is productive capacity.  The world has orders of magnitude more productive capacity than in 1929, multiples of what it had in 1989.  But the paper illusions of wealth dwarf real wealth as never before.   Most of that paper wealth will accrue to gold and silver.

We will continue to see deflation in terms of gold and silver, inflation in terms of paper. From the perspective of gold, debt will default.  From the perspective of paper, debt will inflate.  One way or another, debt, which is the mirror reflection of the paper wealth illusion, will be destroyed.

Attempts to reform within the current system are useless.  You should write off all paper promises today, and plan accordingly.  Here is an incomplete list of what you need to kiss goodbye:

Government Promises

Social Security, Medicare, Medicaid
Deposit Insurance
Pensions
Unemployment insurance
Food Stamps
Bonds
Public sector jobs

Corporate PromisesBonds
Annuities
Insurance Policies
Unbacked paper gold and silver
Home equity lines of credit
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Brazil’s finance minister: World in “international currency war”

From the Financial Times: Brazil warns of ‘currency war’

Guido Mantega, Brazil’s finance minister, said on Monday the world was in an “international currency war” ... Mr Mantega, who has made increasingly aggressive comments recently about the need to control Brazil’s currency, said governments around the world were trying to weaken their currencies to promote competitiveness.


"We’re in the midst of an international currency war, a general weakening of currency. This threatens us because it takes away our competitiveness,” he said ...
excerpt with permission

It seems everyone wants to devalue to export more.

As a reminder, Bernanke touched on devaluation in his well known 2002 speech: Deflation: Making Sure "It" Doesn't Happen Here

Although a policy of intervening to affect the exchange value of the dollar is nowhere on the horizon today, it's worth noting that there have been times when exchange rate policy has been an effective weapon against deflation. A striking example from U.S. history is Franklin Roosevelt's 40 percent devaluation of the dollar against gold in 1933-34, enforced by a program of gold purchases and domestic money creation. The devaluation and the rapid increase in money supply it permitted ended the U.S. deflation remarkably quickly. Indeed, consumer price inflation in the United States, year on year, went from -10.3 percent in 1932 to -5.1 percent in 1933 to 3.4 percent in 1934.

Bernanke also said in 2002:

I want to be absolutely clear that I am today neither forecasting nor recommending any attempt by U.S. policymakers to target the international value of the dollar.

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Censored Gulf News: Many Sick, Poisoned , Broke and Dying

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John Paulson's Scary Speech: Double Digit Inflation By 2012, Gold At $4,000

John Paulson scared the pants off of a packed audience at New York's University Club recently as he warned them of huge changes in the economic environment in the years to come.

Forbes' Bob Lenzer reports Paulson's saying:

“If you don’t own a home buy one."

”If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.”

Paulson has been bullish on housing for a while now (he runs a housing recovery fund), but this is him hitting super-bull territory. His reasoning is that home prices are great, the bond market is dead, and commodities like gold, which he also has a big prediction for, are on the rise.

According to InfoWars, he told the audience that he thinks the price of gold will hit $2400-$4000. And a whopping 80% of his assets are in gold.

Given his expectation for further money printing by the Fed – and that in 1980 the gold price rose by 100% more than the correlation implied – Paulson noted that the price of gold could hit $2,400 based only on monetary expansion, and as high as $4,000 per ounce based on a projected overshoot.

Lastly, he noted that 80% of his assets are denominated in gold.

We rarely get to hear Paulson's opinion on the market unless it's filtered through his stiffer research reports. As a result, he has never been so extreme in his predictions as he seems to be now.

Here's what Paulson sees coming:

• Low double-digit inflation by 2012, killing the bond market, and restoring strength to equities and gold.
• 2% GDP growth for 2011 and 2012
• Gold hitting $2,400 to $4,000

It's worth noting that if gold goes to $4,000, Paulson will be a top contender for the richest man in the world.

Read more: Here..


Trucking Volume Plunges 
Trucking serves as a barometer of the U.S. economy..


How Realistic Is $5,000 Gold? 

Dollar Is `One Step Nearer' to Crisis on Burgeoning Debt Burden

The U.S. dollar is “one step nearer” to a crisis as debt levels in the world’s largest economy increase, said Yu Yongding, a former adviser to China’s central bank.
Any appreciation of the dollar is “really temporary” and a devaluation of the currency is inevitable as U.S. debt rises, Yu said in a speech in Singapore today.
“Such a huge amount of debt is terrible,” Yu said. “The situation will be worsening day by day. I think we are one step nearer to a U.S.-dollar crisis.”
Yu also said China is worried about the safety of its foreign-exchange reserves including those invested in U.S. Treasuries as the U.S. currency weakens, reiterating his earlier views on the dollar assets. The U.S. will record a $1.3 trillion budget deficit for the fiscal year ending Sept. 30, the Congressional Budget Office said Aug. 19. 
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China's Bubble: You Ain't Seen Nothing Yet?

Saudi Arabia Stops Tourist Visas Indefinitely

 

States Are Poised to Be Next Credit Crisis for US

Crippling debts and deficits are about to make individual states the next casualty of the credit crisis, analyst Meredith Whitney told CNBC.

CNBC

Speaking as her firm, Meredith Whitney Advisory Group, just released a lengthy report on the state of the states, the noted financial analyst compared the looming explosion to the collapse of the financial system in 2008 and 2009.

"The similarities between the states and the banks are extreme to the extent that states have been spending dramatically and are leveraged dramatically," she said. "Municipal debt has doubled since 2000, spending has grown way faster than revenues."

Whitney also offered another warning about banks, saying a sharp dropoff in trading revenue and a double-dip in housing would hammer at fourth-quarter earnings.

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G. Edward Griffin: Commodity Money-Gold and Silver

Should Americans Be Listening To Ahmadinejad?

 The Iranian President Makes More Sense Than Bush, McCain or Obama


The full text of Iranian President Mahmoud Ahmadinejad’s speech to the UN General Assembly last week was printed in the Israeli newspaper, Haaretz (9-25-08).

Although our Founding Fathers would have comprehended and endorsed Ahmadinejad’s speech to the United Nations, present-day Americans would find it strange should they happen to hear about it.

Unlike their forbears, Americans today live a material life, not a spiritual one. Americans are far too likely to dismiss Ahmadinejad’s words about obeisance to God and justice as the mumbo-jumbo of an “Islamist extremist.”

The hubris of Americans and their belief in U.S. “exceptionalism” would cause them to reject Ahmadinejad’s holding the US, its NATO puppets, and Israel accountable before the UN General Assembly. So successfully has Ahmadinejad been demonized by the propagandistic US media that his speech would be dismissed out of hand by the arrogance of those who regard themselves as the salt of the earth.

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Lifelines For The Poor Are Disappearing

Banks Still Collapsing-America Close To Destructive Tipping Point

 The largest number of bank failures in nearly 20 years has eliminated jobs, accelerated a drought in lending and left the industry's survivors with more power to squeeze customers.
Some 279 banks have collapsed since Sept. 25, 2008, when Washington Mutual Inc. became the biggest bank failure on record. That dwarfed the 1984 demise of Continental Illinois, which had only one-seventh of WaMu's assets. The failures of the past two years shattered the pace of the prior six-year period, when only three dozen banks died.
Two more banks went down last Friday, and failures are expected to "persist for some time," according to a report issued Tuesday by Standard & Poor's. In the second quarter of this year, the Federal Deposit Insurance Corp. increased its number of problem banks by 6% to 829.
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America Close To Destructive Tipping Point
"America is very close to a destructive tipping point," co-authors Glenn Hubbard and Peter Navarro warn in their new book Seeds of Destruction. "We must change how we conduct our politics and economics...or we will inevitably go the way of all once-great nations and suffer an irreversible decline."

Hubbard, dean of Columbia Business School, joined Dan Gross and I to discuss the "major structural imbalances" facing America, chief among them being the government's profligate spending.
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Beyond The Point Of No Return

We live in an amazing world. Everybody has big budget deficits and big easy money but somehow the world as a whole cannot fully employ itself,” said former Fed chair Paul Volcker in Chris Whalen’s new book Inflated: How Money and Debt Built the American Dream.

“It is a serious question. We are no longer talking about a single country having a big depression but the entire world.”
 The US and Britain are debasing coinage to alleviate the pain of debt-busts, and to revive their export industries: China is debasing to off-load its manufacturing overcapacity on to the rest of the world, though it has a trade surplus with the US of $20bn (£12.6bn) a month.
Premier Wen Jiabao confesses that China’s ability to maintain social order depends on a suppressed currency. A 20pc revaluation would be unbearable. “I can’t imagine how many Chinese factories will go bankrupt, how many Chinese workers will lose their jobs,” he said. 
(snippet)

 We have a new world order where China and India are buying gold on every dip, where the West faces an ageing crisis, and where the sovereign states of the US, Japan, and most of Western Europe have public debt trajectories near or beyond the point of no return.
The managers of all four reserve currencies are playing fast and loose: the Fed is clipping the dollar; the Bank of England is clipping sterling; the European Central Bank is buying the bonds of EMU debtors to stave off insolvency, something it vowed never to do just months ago; and the Bank of Japan has just carried out two trillion yen of “unsterilized” intervention.
Of course, gold can go higher.  

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The Slide Into The Abyss Continues

Fixed income desks are going to be subject to severe layoffs, according to a highly placed Wall Street insider with information about the plans of his firm and the plans of rivals.

"It's going to be a blood bath. Volume is down for everything except Treasuries and Munis. These guys aren't making money and soon they'll be out of their jobs," he said.

He is sitting in Grand Central's Oyster bar. It's an annual ritual for him: welcoming in September with a frenzy of shell fish and wine.

Typically he invites along a few friends and treats them to a discourse on the state of Wall Street.

"It's a one-two blow for fixed income. The derivatives are being commoditized and put on exchanges. Swoosh. Now you don't need half the people you employ to trade and track those. And volume on corporates and agency paper is way down."

The numbers from SIFMA bear him out. Year to date, the average daily trading volume in US corporate debt is down 2% compared to last year.

Trading in Fannie Mae and Freddie Mac debt is down 7%. Trading in mortgage-backed securities sponsored by Fannie and Freddie is down 13%. And the year to date numbers only tell part of the story. And the part it leaves out is how thin trading became over the summer.

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It Is Official: The US Is A Police State 

Lauderdale Man's Home Sold Out From Under Him in Foreclosure Mistake

When Jason Grodensky bought his modest Fort Lauderdale home in December, he paid cash. But seven months later, he was surprised to learn that Bank of America had foreclosed on the house, even though Grodensky did not have a mortgage.

Grodensky knew nothing about the foreclosure until July, when he learned that the title to his home had been transferred to a government-backed lender. "I feel like I'm hanging in the wind and I'm scared to death," said Grodensky. "How did some attorney put through a foreclosure illegally?"

Bank of America has acknowledged the error and will correct it at its own expense, said spokeswoman Jumana Bauwens.

Grodensky's story and other tales of foreclosure mistakes started popping up recently across South Florida. This week, GMAC Mortgage, one of the nation's largest mortgage servicers and a major mortgage lender, told real estate agents to stop evicting residents and suspend sales of properties that had been taken from homeowners in foreclosure. The company said it might have to "correct" some of its foreclosures, but was not halting those in process.

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When SHTF Will Gold Be Worth Anything?

(snippet)
Despite Fed actions that will clearly devalue the dollar, billionaire investor George Soros keeps telling the public that “nothing is safe” and gold is the “ultimate bubble.”  (Click here to see the most recent Soros interview on gold.)  I am puzzled why Soros says negative things about the precious metal when the biggest holding in his $25 billion hedge fund is GOLD!
 Jim Willie from the “Hat Trick” newsletter said this week, “Calls of a gold bubble are shallow moronic pontifications, since the sanctioned asset bubble is the mammoth USTreasury variety. It is the last bubble before systemic failure. . . . The Gold bull will continue as long as the cost of money is negative. Investors flee the conventional paper vehicles like stocks, bonds, and housing since the system is failing and paper money in which values are denominated is fast becoming meaningless. The food prices are the big alarm bell in addition to the Gold price. Both are canaries in the coal mine. The canary is dead or dying.”  (Click here for the complete Jim Willie post.)
 Famed gold investor Jim Sinclair has been calling for gold to hit “$1,650 per ounce on or before January 14, 2011” for several years.  Now others are making similar calls such as Deutsche Bank.  In a recent report titled “Why the Gold Price Rally Will Continue,” the mega bank said it would not consider gold to be in a bubble until it reached “$2,000” per ounce. (Click here to find the Deutsche Bank report on JSMineset.com.) 
According to John Williams at shadowstats.com, in order for gold to equal its 1980 true inflation adjusted $850 price, the yellow metal would have to sell for more than $7,000 per ounce.  But don’t expect gold to go up in a straight line.  Governments, manipulators on Wall Street and market forces can knock gold down at anytime.  Price fluctuations can and will be volatile according to gold experts like Sinclair, but the overall trend is decidedly up.
A very good friend of mine recently wrote me and said, “If there is total collapse of the economy and ultimately – God forbid – the nation, then I doubt that Gold will be worth anything. Bullets and canned food will. They will be very valuable. Bullets will protect you from those who would steal your canned food.  Simple, but sadly – true.”
To that I wrote back and said, “To say gold will not be worth anything is to ignore a 5,000 year track record of gold being a store of value and MONEY. Why do you think all central banks hold gold? Yes, ALL hold gold and are buying more. . . The people who have protected their wealth with SOME gold and silver will get through it a lot better than the people who don’t. Good luck with holding only beanie weenies and bullets.”
Don’t take my word that gold is NOT in a bubble.  Even former Fed Chairman Alan Greenspan warned recently that “fiat money has no place to go but gold.” (Click here for the complete story from the NY Sun.) The value of gold should not be in question.  The U.S. dollar is what is overvalued, and the rising price of gold is simply sounding an alarm that the world’s reserve currency is in deep trouble.
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5 Reasons to IGNORE Collection Agencies

I wrote an article a while back titled 5 Reasons NOT to Pay Your Credit Cards. Understandably, many e-mails came in asking, "But what happens if I don't pay?"

Just as the Mafia has their collections department, so do the banks. A Mafia enforcer might employ a pipe to the knee, threats to your family, or other nefarious means of collecting debts for the boss. Much the same, collections agencies use guilt, the credit rating system, threats of legal action, and many tools of harassment and deceit from their bag of tricks.

If you are one of the many who have fallen into the hands of the enforcement division of the banking cartel, there is good news: they are not the true Mafia. There is not much they can do to you or your family that their boss the credit card companies haven't already done. The best suggestion is to ignore them until you plan a proper strategy to defend yourself.

Here are 5 reasons to ignore collection agencies:
Realize that you are not defined by your credit rating:  Americans have become accustomed to revealing their credit rating practically by way of introduction.  Realize that this is a number, and not your identity: the higher the number the more virtuous, honorable, hard-working, and moral you are supposed to be.  Rather, it is has produced a type of caste system where a bad credit score can render one untouchable by potential employers. This system encourages class distinction based on economic viability and should not be encouraged by submitting to it.

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Thousands Face Job Loss When Part of Stimulus Act Expires

Tens of thousands of people will lose their jobs within weeks unless Congress extends one of the more effective job-creating programs in the $787 billion stimulus act: a $1 billion New Deal-style program that directly paid the salaries of unemployed people so they could get jobs in government, at nonprofit organizations and at many small businesses.

In rural Perry County, Tenn., the program helped pay for roughly 400 new jobs in the public and private sectors. But in a county of 7,600 people, those jobs had a big impact: they reduced Perry County’s unemployment rate to less than 14 percent this August, from the Depression-like levels of more than 25 percent that it hit last year after its biggest employer, an auto parts factory, moved to Mexico.

If the stimulus program ends on schedule next week, Perry County officials said, an estimated 300 people there will lose their jobs — the equivalent of another factory closing.

 “It’s very scary, because there’s just no work,” said Brian Davis, a 36-year-old father of four, who got a stimulus-subsidized job with the City of Lobelville after he lost his job of 17 years at an auto parts plant that shed hundreds of jobs. Now he faces the prospect of unemployment again.
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Default, It's Coming: One Way Or Another

I think it’s fair to say that a majority of economists believe that excessive private debt played a key role in getting us into this economic mess, and is playing a key role in preventing us from getting out. So, how does it end?

A naive view says that what we need is a return to virtue: everyone needs to save more, pay down debt, and restore healthy balance sheets.

The problem with this view is the fallacy of composition: when everyone tries to pay down debt at the same time, the result is a depressed economy and falling inflation, which cause the ratio of debt to income to rise if anything. That is, we’re living in a world in which the twin paradoxes of thrift and deleveraging hold, and hence in which individual virtue ends up being collective vice.

So what will happen? In the end, I’d argue, what must happen is an effective default on a significant part of debt, one way or another. The default could be implicit, via a period of moderate inflation that reduces the real burden of debt; that’s how World War II cured the depression. Or, if not, we could see a gradual, painful process of individual defaults and bankruptcies, which ends up reducing overall debt.

And that’s what is happening now: as this story in today’s Times points out, the main force behind the gratifying decline in consumer debt appears to be default rather than thrift.

So basically, we can do this cleanly or we can do this ugly. And ugly is the way we’re going.

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SILVER to $436/oz and Beyond. Here's Why:

Czech President Against One World Government

UNITED NATIONS, Sept 25 (Reuters) - Czech President Vaclav Klaus on Saturday criticized U.N. calls for increased "global governance" of the world's economy, saying the world body should leave that role to national governments. The solution to dealing with the global economic crisis, Klaus told the U.N. General Assembly, did not lie in "creating new governmental and supranational agencies, or in aiming at global governance of the world economy." "On the contrary, this is the time for international organizations, including the United Nations, to reduce their expenditures, make their administrations thinner, and leave the solutions to the governments of member states," he said. 
(snippet)
Klaus said that was a "mistaken assumption" and it was impossible to prevent future crises through regulatory interventions and similar actions by governments. That will only "destroy the markets and together with them the chances for economic growth and prosperity in both developed and developing countries," he said. The Czech president, a vocal skeptic of global warming, said the United Nations should also keep out of science, including climate change. U.N. Secretary-General Ban Ki-moon has made fighting climate change one of his top priorities. (Editing by Paul Simao) 
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America Is In Deep, Deep Trouble Folks 

Bodies Going Unclaimed: No Money For Burials

GREENSBORO, N.C. — A hospital in Greensboro has seen unclaimed bodies stack up because family members can’t afford to pay burial costs.
WGHP-TV reported the morgue at Moses Cone Hospital has had 39 bodies go unclaimed by family members this year. That’s up from 15 in 2008 and 26 last year.
Hospital pathology director Theresa O’Laughlin says some families just lack the money for burial expenses that often mount into thousands of dollars. Other bodies are claimed after families collect a paycheck or tax refund.
Guilford County will pay for a bare-bones burial if the family can’t, at least until the local government runs out of money.
Economic hard times have meant mounting burial bills for counties across the country.
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How Hyperinflation Will Happen In America..The Government Can't Stop It...

Right now, I’m guessing that sensible people who’ve read this far are dismissing me as being full of shit—or at least victim of my own imagination. These sensible people, if they deign to engage in the scenario I’ve outlined above, will argue that the government—be it the Fed or the Treasury or a combination thereof—will find a way to stem the panic in Treasuries (if there ever is one), and put a stop to hyperinflation (if such a foolish and outlandish notion ever came to pass in America). 

Uh-huh: So the Government will save us, is that it? Okay, so then my question is, How? 

Let’s take the Fed: How could they stop a run on Treasuries? Answer: They can’t. See, the Fed has already been shoring up Treasuries—that was their strategy in 2008—’09: Buy up toxic assets from the TBTF banks, and have them turn around and buy Treasuries instead, all the while carefully monitoring Treasuries for signs of weakness. If Treasuries now turn toxic, what’s the Fed supposed to do? Bernanke long ago ran out of ammo: He’s just waving an empty gun around. If there’s a run on Treasuries, and he starts buying them to prop them up, it’ll only give incentive to other Treasury holders to get out now while the getting’s still good. If everyone decides to get out of Treasuries, then Bernanke and the Fed can do absolutely nothing effective. They’re at the mercy of events—in fact, they have been for quite a while already. They just haven’t realized it. 

Well if the Fed can’t stop this, how about the Federal government—surely they can stop this, right? 

In a word, no. They certainly lack the means to prevent a run on Treasuries. And as to hyperinflation, what exactly would the Federal government do to stop it? Implement price controls? That will only give rise to a rampant black market. Put soldiers out on the street? America is too big. Squirt out more “stimulus”? Sure, pump even more currency into a rapidly hyperinflating everyday economy—right .

Read more:  Here..