Let’s just take a quick review of the situation as we know it. The real inflation rate is over 10% and the real u6 unemployment rate is over 22% according to Shadowstats.com. General Mills recently reported that their input costs rose from 10% to 11% year over year. This is no shock to anyone that goes to the grocery store every week. The Baltic dry index, the measure of shipping rates worldwide , dropped over 65% between Nov 2011 and Mar 2012. This means a lot of cargo ships are sitting around with nothing to do. The housing sector is still in shambles and will take at least a decade to work off the Millions of foreclosures on the books and the millions about to be added in the next few years. This means the price of houses will continue to fall for the foreseeable future so if you decide to buy please do some research and go into it with both eyes open.
Recently the BRICS countries held a meeting and agreed to conduct more commerce in their own currencies instead of U.S. dollars. Iran is selling oil for anything but dollars. Saudi Arabia is building a huge new refinery in cooperation with China on the Red Sea. It is estimated that there are about $700 Trillion in derivatives in the world banking system. This is over 10 times the World GDP. This is insane.
Latest posts by Kelsi Brown (see all)
- Kerry Says US Will Sign UN Arms Treaty, Ignores Congressional Opposition - June 7, 2013
- Rand Paul Slams John McCain For Posing With Kidnappers - June 7, 2013
- Journalist Links Egyptian President Mohamed Morsi to Benghazi - June 7, 2013