US banks face $100bn Basel III shortfall (Hat Tip: Jean Stoner)
Dems want to hand $44 billion to illegals (Hat Tip: Brian B.)
This Black Friday, Somebody’s Watching While You Shop (Hat Tip: Brian B.)
Hungary Follows Argentina in Pension-Fund Ultimatum, `Nightmare’ for Some (Hat Tip: Brian B.)
Transplanting Plum Island to Kansas: is the country’s food supply at risk? (Hat Tip: Brian B.)
Millions cashless in bank glitch (Hat Tip: Brian B.)
Currency Warfare, Trade Barriers, The People it Hurts (Hat Tip: Brian B.)
Creating Energy From Water and Sunlight; Open-Source but MIT Owns the Patent (Hat Tip: Brian B.)
Portugal Says EU Can’t Force Governments to Accept Rescue Aid (Hat Tip: Jean Stoner)
Unions Shut Down Portugal Over Planned Cuts (Hat Tip: Jean Stoner)
Allied Irish, Bank of Ireland Bonds Plunge on Bailout Worry (Hat Tip: Jean Stoner)
Ireland Races to Secure Weekend Aid Deal Amid Bank Concern (Hat Tip: Jean Stoner)
Austerity Plan Could ‘Stall the Irish Economy’ (Hat Tip: Jean Stoner)
German Inflation Accelerates More Than Economists Forecast (Hat Tip: Jean Stoner)
Now rescue threatens Germany… (Hat Tip: Jean Stoner)
Berlin rejects rescue fund increase (Hat Tip: Jean Stoner)
Spain issues defiant warning to markets (Hat Tip: Jean Stoner)
Eyes return to Greece after Irish bail-out (Hat Tip: Jean Stoner)
Contagion fears weigh on European bank stocks (Hat Tip: Jean Stoner)
Eurozone debt contagion weighs heavily on euro (Hat Tip: Jean Stoner)
London shares fall as debt concerns persist (Hat Tip: Jean Stoner)
France urges curbs on super-fast trading (Hat Tip: Jean Stoner)
China and Europe rattle markets (Hat Tip: Jean Stoner)
Japan passes new stimulus package (Hat Tip: Jean Stoner)
Ireland’s unfolding crisis may be followed soon by Portugal, and then Spain and Italy. That many sovereign debt failures would spell the end of the Euro. If the Euro collapses it might cause a temporary jump in the value of the US Dollar, and a corresponding drop in precious metals (at least in Dollar terms.) That dip may be the last chance to buy silver before it vaults into $50+ territory.
Record-High Turkey Prices Are Just the Beginning. “Currently, wholesale prices are hovering around $1.09 per pound, the highest they’ve ever reached. This represents a 28% increase over 2009′s prices and a 37% increase over 2008′s.
The BHO Administration still claims that inflation is low. Yeah, right. The 2010 list price shows that a standard blue steel Colt M1911 .45 automatic is now $919. (Or $950 for stainless steel.) I can only wonder what the 2011 prices will be. Certainly not lower. For comparison, in the early 1960s a standard blue steel Colt M1911 sold for around $60. But by the early 1990s they had jumped to around $375. Here is a thought: If I just liquidate three of my 1/4-ounce American Eagle gold coins… Here is the math: They cost me $95 each in 2001. ($285 for the three coins.) I can now sell them for $337.50 each. Selling those three coins will put $1,012.50 cash (or a Colt .45) in my pocket. So I shouldn’t so much be concerned that a Colt pistol that has gone up. Rather, it is the dollar that has gone down.
Dr. F.J.D. sent: Consumer Prices For Hospital Services Increased. Modern Healthcare reported, “Consumer prices for hospital services increased 0.7% in October after rising 1.8% the prior month, according to seasonally adjusted figures from the Bureau of Labor Statistics.” Conversely, “consumer prices for physician services dropped 0.1% last month after a 0.4% increase in September.”
Reader “Sam’s Mom” notes: “For the past few years I’ve bought boxes of 24 StarterLogg fire starters for use in our wood stove. Over time the price has increased from about $7 to $10 at the end of last winter. Yesterday I was surprised to see the price at Wal-Mart for the 24-count box is still $10, but when I picked up a box I realized it was smaller than before. At home, I compared it with boxes from last year and found the older boxes were 9.75 pounds; the new box (with identical packaging) was 6.83 pounds. I’m considering instead using Dollar bills to start fires. Thank you for a life-changing blog.”
“Greece will certainly default on its debts, and it is an open question whether Greece will experience some form of revolution or coup – I’d put the likelihood of that over the next five years as around one in four.” – Andrew Lilico, chief economist, Policy Exchange. (Quoted in June, 2010.)
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