Monthly Archives: June 2011

The Gold and Silver “Boomerang Effect”

By John Galt June 20, 2011 The Boomerang Effect (as taken from Wikipedia because I’m lazy): In social psychology, the boomerang effect is “the theory of psychological reactance (that people act to protect their sense of freedom) that is supported by experiments showing that attempts to restrict a person’s freedom often produce an anticonformity “boomerang effect”. The kerfuffle de jour on the internet are the stories from FOREX and CMC that they are discontinuing some of there gold and silver trading products due to…

By John Galt June 20, 2011 It would appear some of the Middle East stock markets smell the liquidity crunch about to hit due to the potential Eurozone collapse. Here are some of the larger markets this morning:

BREAKING NEWS 6/19 1954 ET: No Agreement for Greek Aid from EU

By John Galt June 19, 2011 Game over for now. From the Bloomberg flash: Ministers Fail to Agree on Greek Aid: Reynders By Jonathan Stearns – Jun 19, 2011 7:54 PM ET Belgian Finance Minister Didier Reynders said euro-area finance ministers reached no agreement on a scheduled aid payment to Greece. He spoke to reporters in Luxembourg after talks today. As a result the Euro has started it’s scheduled slow descent into the side of the mountain: (chart from INO.com) UPDATED STORY AT 2028…

Aussie Dollar to become 1 percent of Russian Reserves

By John Galt June 19, 2011 Thankfully our “ally” the Russians and their central bank are only making the nails for the dollar coffin, we have Congress and the Federal Reserve driving them into the wood and building the damn thing. As foreign bankers have been secretly diversifying their holdings to avoid a crash in the U.S. Dollar, the Russians have been openly mocking our central bank with public pronouncements about actions they have taken or will be taking. Today is no different. In…

6/19 Breaking: Germany Dismisses Greek Debt Deal this is now D-Day

By John Galt June 19, 2011 I leave the house for a while and the world blows up. Per AFP: Germany ‘dismisses Greek debt compromise plan’ With that being established, the prime comment from the article drives the point home as to the severity of this crisis now: Der Spiegel had reported ahead of its Monday issue that the German finance ministry called for a beefed-up version of Europe’s temporary bailout mechanism lending to Greek banks to insure they have adequate collateral with the…

Protesters hit the streets of Spain on Sunday Again

By John Galt June 19, 2011 No sooner did I finish posting more information about the crisis in the Eurozone, the Spanish citizenry are in the streets marching and protesting the excessively high unemployment and austerity measures they are enduring. The report from Ireland’s Journal.ie said that the government hoped the protests would be peaceful after the violence experienced in Barcelona earlier this week. As the government fails to address the larger issues, the issue of solvency, this crisis will continue unabated. The chart…

By John Galt June 19, 2011 I first wish to thank my readers for their patience as the website has undergone several transitions over the past few weeks along with my personal schedule which has kept me somewhat silent with regards to posts on economic data and working away from my readers who I missed dearly. With that behind me, let’s look forward by reviewing the monthly data dump from the Census Bureau. I. Housing Starts Finally, again, we can blame the weather. Shockingly…

Chinese Food Prices Skyrocket after Drought and now Flooding

By John Galt June 19, 2011 The crisis of the drought causing massive problems within Chinese agriculture in the central and northwestern portions of the country are now being complicated further by floods in the Southern part of the nation. Meanwhile, as outlined in a story from Xinhau this morning, Heavy Downpours damage farmland, inflates food prices in Eastern China, a substantial portion of production has already been impacted with little relief in sight. From the story: “This is the biggest flood I’ve ever…

More Insanity from Spain: Let’s Kill Auto Manufacturing

By John Galt June 19, 2011 Believe it or not, this is not another story about the insipid and stupid “green” movement which is closely intertwined within the Spanish Socialist political elites. The Spanish auto industry is still in a somewhat prolonged slump as sales in May declined 23.3% from depressed 2010 levels (Source: Reuters-EU Auto Sales rose 7.1% in May-ACEA) and the government is still clueless as to how to resolve the perpetually high unemployment levels, the housing disaster, and the overhang of…

The “Arab Spring” Continues: More Protests Set for Morocco

By John Galt June 19, 2011 While America slumbers, the deterioration of the political condition of many of its key allies in the MENA region continues to accelerate. King Mohammed VI (also known as M6 in the country) proposed a series of reforms over the past week but kept key powers such as retention of the commander in chief role over the military and other political moves which despite an increase in civilian power, ultimately leaves the King as the supreme power in the…

The EuroZone Nations know: Greece Will Default

By John Galt June 19, 2011 Greece expected to default even after a second IMF/EU bailout That is the headline from the Sunday June 19, 2011 U.K. Independent’s financial news section and despite the slight improvement in the Greek CDS based on Merkel’s announcement last Friday, the reality is that if replacing a cabinet and demanding a national political leader resign would make a nation solvent, the United States public would have demanded Obama resign six months ago. Many European economists recognize the fallacy…

Housing Crisis Over as Foreclosures Drop? Think Again

By John Galt June 19, 2011 The foreclosure crisis is officially at half time, sitting in the locker room, and waiting on the coach to come out with a second half strategy. The media, especially some members of the analyst and financial bubblevision press on television, have been desperately attempting to paint a picture of an improving economy resulting in fewer foreclosures and the hope of mortgage modifications helping to stem the tsunami. The statistics are further from the truth than ever. First and…

Is the United Kingdom Triggering the Lehman Like Eurozone Liquidity Crisis?

By John Galt June 18, 2011 There is now some strong evidence to validate the headline as reported in the financial section of the Sunday June 19th edition of the U.K. Telegraph: UK banks abandon eurozone over Greek default fears Tyler Durden at Zero Hedge hinted as to the liquidity issues in a piece on the 16th titled Ice-9 Sightings: (Blank)-OIS Spreads Confirm Liquidity Freeze Spreading but until the story was published in the Telegraph the source of the drain on liquidity was difficult…

UK: Christians more Militant than Muslims

By John Galt June 18, 2011 Does anyone really think a commission with this name could be in the least bit sane? In the Sunday U.K. Telegraph the following story by Jonathan Wynne-Jones reveals how far our brethren overseas have fallen: Christians are more militant than Muslims, says Government’s equalities boss My fine readers, please re-insert your eyeballs back into your head and continue reading. According to the extreme leftist who runs this “commission” who authored a report on religious discrimination in the United…

By John Galt June 18, 2011 On Sunday, June 19, 2011, millions of American families will celebrate Father’s Day, a contrived Hallmark holiday developed to sell more cards and allow middle aged working class men one more opportunity for a rare day off to drink beer and watch sports. The family of Tom Ball will be recovering from the shock of a divorced man who apparently, based on the reporting to date, did nothing wrong beyond one mistake in a domestic spat which was escalated…

HUGE BREAKING NEWS: We May Have Lost Japan-Major Accident at Breeder Reactor

By John Galt June 17, 2011 From my friend and frequent Guest Helium Avid a MSEE in Applied Nuclear Physics at End of the The World as We Know It: We May Have Lost Japan: Major Accident at Breeder Reactor http://enenews.com/precarious-strugg…raught-dangers Times By HIROKO TABUCHI, June 17, 2011: Three hundred miles southwest of Fukushima, at a nuclear reactor [60 miles from Kyoto, a city of 1.5 million people] engineers are engaged in another precarious struggle. [...] Click on the link above to read the…

6/17 V of Galt Archive is now Available

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6/17 V of Galt: Return of the Survival Hour Bananas Foster Style

By John Galt June 17, 2011 That’s right I’m back in the saddle ready to broadcast news and information not as depressing but helpful for those wishing to learn just what preps you will need and how to survive the storm we are in the midst of. Tonight I focus on a different aspect of radio listening, that’s right medium and long wave frequencies. Do you remember driving around in your personal vehicle and spinning the dial hearing A.M. radio stations from around the country…

6/15 V. of Galt Archive is now Available

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6/15 V. of Galt: DOOMER TUESDAY on a Wednesday Happy Days Style

By John Galt June 15, 2011 Uh, if you have to ask about tonight’s subject matter, well……I’m live, the market is dead, and hoo boy….. Click on the link in the blue bar at the top of the page for Just Measures Radio to participate in the chat, access archives and of course listen live via the flash player provided. Welcome to America and the world preparing to jump the shark.

Last night during the Republican Presidential debate broadcast on CNN, Minnesota Representative Michelle Bachmann elected to open the debate by not directly answering the question asked by moderator John King and instead announced she was officially running for President. That was without a doubt one of the most bush league moves I have ever witnessed in Presidential electoral history. The major problem she will face from this moment forward, probably due once again to inept handlers, is the idea that she is a lightweight and…

NFIB Economic Trends Report: No Reason for Optimism

By John Galt June 14, 2011 The NFIB monthly Economic Trends Report for Small Businesses has been released and the information contained within offers little reason for optimism as reflected by their data. Small business optimism dropped again in May with a myriad of reasons being provided to indicate that small business will be limiting expansion and is indeed following our Irish brethren (see this posting) in moving into the “hunker down” or survival mode. The lack of optimism and apparent economic headwinds is…

6/13 V of Galt Archive is now Available

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News that will be ignored by the MSM: Another Riot in China

By John Galt June 13, 2011 From Reuters this morning: Police use tear gas to quell riot in southern China The importance of this is not that it was reported but that a riot occurred at all. It would appear that the long simmering conflict between the numerous manufacturers with the migrant workers from the interior of China has gone into a full boil. The key statement from the article: The rioters smashed windows, set fire to government buildings and overturned police vehicles, bringing to…

BREAKING NEWS: Jordan’s King Abdullah II Motorcade Attacked

By John Galt June 13, 2011 This is a major escalation by the Islamist movement in the country of Jordan and a slap in the face to pro-Western allies like Saudi Arabia and the other nations of the region. Read the full story from Al-Arabiyah here: Jordan King’s motorcade attacked with stones and empty bottles in southern city I wonder if the House of Saud will spend $72,000 per citizen in Jordan now to keep its northern border secure…..

By John Galt June 13, 2011 This story from the Wall Street Journal this morning: Bank Probes Its Executives appears to indicate that the insiders who did not sell after the 2009 crash and burn may well regret their inaction. Region’s Financial is facing a slew of major obstacles including almost $4 billion in NPL’s (Non-performing loans), a real estate portfolio in Florida which is deteriorating in both credit quality and price, and not receiving regulatory permission from the Treasury Department to repay the $3.5…

So Much for China Bailing us Out: Chinese Lending Slows, Growth Stumbles

By John Galt June 13, 2011 The question becomes: Is this the ChiCom bubble finally bursting? It just might be. This story from Bloomberg in the last half hour should give everyone with a legitimate journalistic viewpoint in Bubblevisions one through three a wake up call: China Lending Tumbles, Signals Slowing Economy The slowdown in Chinese economic activity reaches far beyond real estate agents and developers. The American model of moving manufacturing, management talent, an resources to mainland China could prove to be a fatal…

By John Galt June 13, 2011 The conspiracy theories are spiraling out of control but the reality of the failure of debt monetization and decades of “quantitative easing” since 1973 are starting to impact the planning and execution of the Federal Reserve from that of proactively attempting to influence economic outcomes to one of self-preservation. The apparent program for decades was for the Federal Reserve banking system to expand its reach far beyond America’s shores and work with other banks to create an international cartel…

Irish Business is Preparing for the Storm by Contracting Rapidly

By John Galt June 12, 2011 The last thing the European Union wants to hear is that Irish businesses, much less any company located within the group of countries collectively known as the “PIIGS” (Portugal, Ireland, Italy, Greece, have decided to contract their economic activities yet a fascinating story from the Irish online news site, TheJournal.ie spells out the damage that has been done after years of lackluster expansion. The Irish economy, much like their fellow piggies and the already defaulted nation of Iceland is…

Sunday Reading Assignment: Shari’a and Violence in American Mosques

By John Galt June 12, 2011 The study linked below from the publication MidEast Quarterly reveals some shocking patterns of the dissemination of Shari’a law and Jihad ideals within mosques across America. Without a doubt, this is a must read study and should alarm anyone who has doubts about the threat from within and how the mainstream media continues to gloss over the potential for further violent activities from Muslim extremists. Shari’a and Violence in American Mosques

6/10 V. of Galt Archive is Now Available

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Thank You for Paying for Government Graft – A must read with video

By John Galt June 10, 2011 Click on this link. Read the story. Watch the video. Then LEARN once and for all how the graft and political bribery works with the Federal and State government hierarchy. Taxpayers on the Hook for Retiree Costs for Federal Contractors By Elizabeth MacDonald & Kathryn Glass Published June 10, 2011 | FOXBusiness I hope you understand why I rail against the current “system” and why a return to pre-1900 government and economic structure without the “Progressive” interjection is a…

6/9 V. of Galt Archive is Now Available

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6/9 V. of Galt: The Descent into Darkness

By John Galt June 9, 2011 Tonight we take a journey via the news of the last 72 hours into darkness; a darkness which has not descended on to civilization since the era of Soviet Russia and Nazi Germany dominating much of the world. America is now descending into this evil period, with little hope of saving the masses but some hope if we work together to survive and rebuild. To listen to the program tonight and get more information or chat with our great…

How Not to Run an Airline Presented by Delta’s Treatment of our Military

By John Galt June 8, 2011 You watch, you decide. They made things “right” after a firestorm but the truth is this should never have happened in the first case. The disrespect for our soldiers is both shocking, disgusting, and enough to insure that I’ll never fly: D on’t E xpect L uggat T o L eave A tlanta Because that is their main hub and after all, it has to be “inspected” at the employees home before it gets to your destination.

6/8 V. of Galt Archive is now Available

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Your Head will Explode: Food Stamps Buying Lobster, Porterhouse

By John Galt June 8, 2011 Kudos to the Charleston Daily Mail for allowing this article to be printed: Buying lobster with food stamps June 8, 2011 by Dan Surber Here is the receipt and read the rest at the link above. Your head will explode if not duct taped properly. If it was an Adobe Photoshop job or not, we’ll never know; but odds are it is real based on what I’ve seen with illegals using EBT cards down here…..

6/8 V of Galt: Unfinished business and our new U.S. Stasi

By John Galt June 8, 2011 Thank you to everyone who enjoyed yesterday’s program but OOPS!!! I never got around to the REGIONAL REPORT! So tonight after we all settle down, time to review the news from around the country and if you have a story about your state, county, city or backyard call: Let’s finish up the leftover business from DoomerTuesday so we can move forward because after listening to Cope’s program tonight about the wildfires out West, I worry more and more about…

More Warning Signals: 2 Year Treasury Yield below 0.40%

By John Galt June 8, 2011 The markets are sending a warning about this impending liquidity crisis but the bubblevisionistas are missing it again, just like 2008. Check out the yield on the 2 year US Treasury which just broke 0.40% and looks like it will test the 0.25% to 0.30% range again.

Department of Education Now Uses Stormtroopers for Student Loan Defaults

By John Galt June 8, 2011 America, welcome to 1930′s Germany or 1970′s East Germany. This story from NewsChannel 10 in Sacramento, CA, highlighted on the Drudge Report is a warning shot as to what will happen to anyone who owes money to the government or in the future, who speaks out in opposition: Dept. of Education breaks down Stockton man’s door For those who question if this was a Department of Education backed raid, look at this snapshot from the original story and think…

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Monthly Archives: June 2011

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