By John Galt August 17, 2011 – 18:30 ET Michele, as a Libertarian you and I agree a lot, not completely but on many issues.. But tonight, PLEASE, for the sake of our nation, PUT DOWN THE DAMNED BONG! From NewsMax: Bachmann: I’ll Push Gas Under $2 a Gallon Uh, really? EXCERPT: “The day that the president became president gasoline was $1.79 a gallon. Look at what it is today,” the Minnesota congresswoman said at a campaign event in Greenville, S.C. “Under President Bachmann, you…
By John Galt August 17, 2011 – 15:00 ET This must be seriously deflationary. Per Reuters: Chavez to nationalize Venezuelan gold industry 2:38pm EDT By Louise Egan CARACAS (Reuters) – Venezuelan President Hugo Chavez said on Wednesday he will nationalize the gold industry, including extraction and processing, and use its output to boost the country’s international reserves. The move follows a dispute between his government and foreign miners who say the rules limiting the amount of gold that can be exported from the South American…
By John Galt August 17, 2011 – 13:30 ET Ruh-roh, quick call Cramer, call Altucher, call Biryini, call an idiot savant, save our 401K’s. Or just learn how to read a chart. OMG, it could be an EPIC one if we drop below 1190 or will the Fed bail out the Canadian sponsored OBAMAMBUS tour?
By John Galt August 17, 2011 – 13:15 ET Unfortunately, I am not paid to blog, but I am working on it. With that established that is my excuse for not having these charts up yesterday as I shall now establish a series of pages under the economic data heading to keep my readers informed with or without an individual posting. Here is the latest from the US Department of Commerce, Bureau of the Census regarding housing permits, starts, under construction, and completions. Needless to…
By John Galt August 17, 2011 – 11:50 ET How does that taste Indiana and Florida? To say those two states have permanently lost a few jobs in the Recreational Vehicle industry is an understatement. Per the Recreational Vehicle Industry of America, 280,000 jobs were lost in the RV manufacturing industry in the United States since 2007. Some of these people have been called back, but many companies went out of business or cut back their work forces so severely that it is doubtful the…
By John Galt August 17, 2011 – 11:15 ET As discussed on my program, the full story is at the Palm Beach Post and can be read in full by clicking on this link. Here is the letter where Congressman West refuses to submit to CAIRreroism in the classic style of the 101st Airborne’s General McAuliffe: (Click to enlarge/reduce photo):
By John Galt August 17, 2011 – 06:55 ET The Bloomberg headline and story says it all: Franc Gains as Switzerland Stops Short of Peg Apparently the Swiss National Bank has not been in consultations with the Japanese Central Bank. The one year chart for the Swiss Franc speaks volumes on the failure of intervention by central banks and the inability to control daily, weekly, or monthly fluctuations. The addition of liquidity to dilute the Franc is akin to wasting one’s time by asking Bernanke…
By John Galt August 17, 2011 – 08:30 ET This morning’s print edition of the UK Telegraph has what sounds like a eulogy for the European Union from Ambrose Evans-Pritchard. Click on the article title below to read the entire story: EMU crisis deepens as slump reaches Europe’s AAA core The German economy slowed drastically over the early summer and may be on the cusp of a double-dip recession, dashing hopes that Europe’s industrial engine would eventually lift EMU’s southern bloc out of slump. Growth…
By John Galt August 17, 2011 – 06:10 ET Yesterday the leaders of France and Germany held a 1938 Munich style meeting where instead of the Sudetenland being carved up, the two political elites bowed to the pressure of their nation’s banksters and carved up the spoils of the now failed European Union experiment. Below is a full translation of the press conference with the details being provided by the UK Telegraph in an article at this link on the 16th. Here are their proposals…
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