Welcome to Roger's Economic Rant
May Economic Rant -Roger Mason
Every month the U.S. economy comes closer to a real depression after 80 years. You will see the Much Greater Depression by 2010. Let’s look at some of the major retailers (with real average inflation of about 12%) in the last year:
Costco is down 5% and that is the best! WalMart- the bellwether of the economy- down 11%. Target down an amazing 16%. Nordstrom down a stunning 21%. Dillards down 22%. J.C. Penney down 24%- almost one quarter in a year! Kohl’s is the worst, down a full 25%. Folks, we obviously can’t continue like this very long.
The housing crash is just getting warmed up, just getting started. You are going to see millions of people walk away from their homes, and give the keys back to the banks. More and more walk away every day. The mortgage will far exceed the value. At least 1 in 10 families will lose their homes- over 10 million! You will see houses selling for a quarter on the dollar before it’s all over. The National Association of Realtors says all this will magically recover this Fall. Ha! People are moving to apartments, but rents are going up strongly. There is a one year backlog of unsold homes. More are being built every day! The next phase will be renting these houses, since they cannot be sold. Robert Shiller predicted this housing crash, and says it is going to get a lot worse from here (the founder of the Case-Shiller Housing Index). The housing crash will be the end of The American Dream. It will be the end of the stock market as well. Bush has a record busting overall disapproval rate of 70%! One fourth of people with car loans now owe more than the car is worth and can’t pay for them. Americans are unhappy campers. They get unhappier by the day.
The entire worldwide banking system is bankrupt. Bear Stearns was wrongly salvaged with YOUR tax money. All bailouts are welfare. Welfare to the megarich? On March 11 Mad Man Jim Cramer told his TV audience to, “hold onto your Bear Stearns stock.” He should be in jail. Wachovia is about to go under along with Citibank, Bank of America, Wells Fargo, and the rest. Did you know that the U.S. dollar has dropped in worth from $1.00 to one penny since the Federal Reserve took over in 1913? That’s right, the dollar lost 99% of it’s value in that time. Private bankers own this in case you didn’t know. It’s not federal at all. Paul Volker said we face the “mother of all economic crises”. You can tell the truth when you’re not in office.
Dow Theory says the DJI, DJU,
and DJT rise or fall together. Dow Theory works. Dow Theory has always
worked. Dow Theory says there is no hope for the stock markets. The
stock markets have to go up 18% a year now just to break even. That
means the DJI at 12,500 has to go to 14,750 just to break even. After
taxes on your illusory profits you would lose badly. In 2009 it would
have to go to 17,400 just to break even. After paying taxes on your
illusory profits you would again lose badly. The stock market is headed
for 10,000 this year and 5,000 ultimately. This brief bear rally to
12,800 will soon end. Don’t be fooled. If you have an IRA/401k you
must convert this to American silver stocks or dump it. That’s right,
take the 40% tax and put the 60% into silver stocks. Almost no IRA/401k
plans allow you to choose anything at all. If you don’t do this you’ll
be standing in the soup line with the rest of the lemmings. Let the
lemmings buy junk like solar, windmill, and ethanol stocks.
Soon your DNA will be collected and stored if you are arrested for any federal crime. This means if you forget the Boy Scout knife in your pocket at the airport and get arrested, your DNA will be on file- even if the charges are dismissed! This will then go to the state level. Then it will apply to misdemeanors. Then every child in America will have their DNA collected, registered, and stored at birth. This is part of the Real ID Act where your drivers license becomes a police state national ID card. Russia will look like Freedom Land. All foreign travelers will be fingerprinted. That will lead to all of us being fingerprinted as part of the Real ID Act, and stored in CODIS. The U.S. has more people locked up by far than any other country per capita. 1 in 100 American adults are locked up, with many, many more on parole or probation. China is one of the worst police states in the world, but has less than ONE FIFTH of the per capita prison population we do. Japan has less than a tenth. The U.S. has less than 5% of the world’s population but almost a QUARTER of the prison inmates! This is only going to get worse. The Constitution and Bill of Rights were shredded a long time ago. Did you know your computer can be seized by customs and kept for no reason at all? Fact.
There is enough oil off the
north slope of Alaska for the next 200 years. There is also enough natural gas there for
another 200 years. The Governor of Alaska stated this on national television in 2005.
Your government and military won’t release this oil. “Peak oil” is simply not true.
Stop blaming the Arabs and the big oil producers for your problems. It is not the Arabs
or Big Oil that raises the prices. The Iraq war caused oil to go
from $20 to $120. Oil could severely correct temporarily. The price
of oil is determined by politics, not supply and demand. Don’t
trade oil. Watch gas stations close very soon since they can’t make
money. Read Lindsey Williams The Energy Non-Crisis to learn more,
or go to www.youtube.com and search “Lindsey Williams”.
There is no energy crisis and never has been.
Many famous chains are doing very badly and going under. Just a very short list includes such well known ones as The Gap, K-Mart, Harley Davidson, Sears, Office Depot, Circuit City, Dillards, Starbucks (but not Dunkin Donuts!), Krispy Kreme, Wilson’s Leather, Talbots, Linens’N’Things, BJs (are Costco and Sam’s next?), Victoria’s Secret (no wonder!), Mervyns, Radio Shack, Albertson’s, Old Navy, Bon Ton, Boscov’s, Ross, Children’s Place, JC Penney, Blockbuster, Things Remembered, Rite Aid (huge), Staples, Michael’s, Pier 1, Rack Room, Nine West, Jo-Ann, and Borders. This is just a partial list. The cruise lines, airlines (five in a month!), trucking companies, restaurants, banks, hotels, and Big Three Auto Makers are all going bankrupt due to high oil prices. This is just the beginning folks! Just like the housing collapse, this is just the beginning.
For almost 50 years Chevrolet has made limited editions of the world famous Corvette. This is the best race car in the world dollar for dollar hands down. Why? Because it is made in America by Americans! Currently they only make 40,000 yearly, have always sold out, and were never discounted. Now they are heavily discounted, they cannot give them away, and all the dealers have overstock. 430 horsepower. 25 mpg, and 180 miles an hour- all for under $45,000, and no one can afford one. This is another American institution, like Harley Davidson, that is disappear- ing. Soon Americans are going to be driving crappy little plastic toys like Tata, Renault, Fiat, Skoda, Mini Cooper, Yugo, Lada, Dacia, and Smart Cars out of desperation just to get to work and back. The American Dream is over folks. It’s over, done, finished.
In November- a mere six months from now- McCain will be President of the U.S.
There is no election. All elections are pre-decided, and the media tells you who to vote for. McCain and his evil witch of a wife will head Socialist States of America, the SSA. McCain will make Bush look like a wimp with his new police state. Don’t vote. Don’t vote for the Lesser of Two Evils. Ron Paul is not running as a third party candidate. Don’t waste your time and energy on the whole farce. The election is meaningless.
Every day we are closer to invading Iran. All the signs point to this, including $120 oil.
Neocon puppet Petraeus has been made Supreme Ultimate Imperial Emperor CentCOM Commander of the entire mideast military forces. CNN and the media tell you Iran is the biggest threat on earth to our freedom and safety. If you think invading Iraq was a mistake, wait until we invade Iran. Notice we’re scared to death of North Korea- who threatened to blow us off the map. After McCain is in office, the military draft will start. We have military forces in 160 countries of the world. We should have none at all. Ron Paul would have brought every single one of those soldiers home. McCain will put even more troops in these countries. Your son AND daughter will be sent thousands of miles away to kill and be killed.
30 countries are running out of food including Japan, and now the U.S. The U.S. has never been short of food, except during the Civil War. If you don’t think we’re running out of food, just go back and take a look at the prices of everything you put in your mouth. Supply and demand. The rice and wheat shortage will get worse soon. Beef and pork will double in price this year. (You shouldn’t be eating them anyway.) Every food you can name is skyrocketing. Go put 50 pounds of brown rice away in sealed containers. Buy lots of dried beans in different varieties. Don’t buy expensive freeze dried food and nitrogen sealed , etc; just get healthy staples.
Read the commentaries at www.kitco.com every week, read Ted Butler every two weeks at www.butlerresearch.com, go to www.silverseek.com to learn more. Get a free two week trial at GATA at www.lemetropole.com ($195 a year).
Yes, the rants are getting
longer because the events worsen every month. Folks, your poor (ha!)
old author puts his heart into these rants every day. www.economicrant.com will open soon. This started out as
a monthly, but it is obvious it will soon have to be a weekly rather
than just twice a month. This is not gloom and doom; these rants show
you how to prepare for the future and prosper during the coming depression.
The lemmings are going to stand in government soup lines while you thrive.
“It is error alone which requires the support of government. Truth can stand by itself.”
There is no silver bullion for sale unless you have $90,000 in cash to buy 5,000 oz directly from the COMEX. We have antique sterling silver 92.5% flatware in storage (bad idea) and are going to liquidate it. Any of our customers are welcome to all they want at MELT VALUE. We paid 125% of melt value years ago. This means you get it at spot price close for silver on the day of sale. Silver is measured in troy oz, so if you buy 1,200 troy oz, you get 1,600 regular, normal (avoirdupois) ounces. All these are in fine or better condition, but not polished. One third is monogrammed. This is mixed, and not sets, but we will separate by maker and usually patterns. We will tell you exactly what you’ll get before we ship it. Knives are counted as 1 oz as the handle is filled. Please e-mail us if you want some. Go to Google and type in “replacement sterling silver” to see what the dealers are getting for this antique silver! If a spoon is one troy ounce you get it for spot the day of sale. Melt value. Antique silverware at spot.
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