There’s Only One Way To Describe This Situation:
SHAMBLES
by
Mac
Slavo
SHTF
Plan
Recently
by Mac Slavo: Time
To Stock Up: The Price of Peanut Butter Is Set To Soar 40% in the
Next Two Weeks
shambles
–
noun
1. a place of great disorder
2. a place where animals are brought to be slaughtered
3. any place of slaughter or carnage
Perusing the
headlines today you'd think that the entire world economic, financial
and political systems were at risk.
Oh, wait, they
are.
- Consumer
Confidence Hits Two and a Half Year Low
Consumer confidence unexpectedly dropped to its
lowest level in two-and-a-half years in October as consumers fretted
about job and income prospects.The Conference Board, an industry
group, said its index of consumer attitudes fell to 39.8 from
a upwardly revised 46.4 the month before. It was the lowest level
since March 2009. Economists had expected the index to
rise to 46.0, according to a Reuters poll. September
was originally reported as 45.4.
[Via: Reuters]
[Editor's note: They didn't see it coming. Again. These are
the same people who are telling us we've been in recovery for
18 months.]
- Home
Prices Fall More Than Forecast
Home prices in 20 U.S. cities dropped more than forecast in August,
highlighting one of the obstacles facing the economic recovery
in its third year. The S&P/Case-Shiller index of property
values in 20 cities fell 3.8 percent from August 2010,
the group said today in New York. The median forecast of 30 economists
surveyed by Bloomberg News was for a 3.5 percent decline.
[Via: Yahoo]
[Editor's Note: Another surprise. How.....surprising.]
- Home
prices rise for 5th straight month
Home prices continued a winning streak
in August, the fifth straight month of price gains, but remain
lower on a year-over-year basis.
[Via: CNN]
[Editor's Note: We're not sure what to think anymore. All
the spin has us dizzy.]
- European
EconFin Council Meeting Cancelled
Officials tell Brussels Blog the so-called 'Ecofin' council meeting
is now likely off, and in a letter to Jean-Claude Juncker, the
Luxembourg prime minister who chairs the group of 17 eurozone
finance ministers, Rostowski makes it appear the cancellation
is due to a failure to agree on outstanding issues.
[Via: The
Daily Crux]
[Editor's Note: Wasn't there supposed to be a solution to
Europe's debt crisis two years ago? For today, it looks like we're
at yet another impasse. Tomorrow we should have it all figured
out though.]
- Banks
Clash With Lawmakers on Greek Rescue
Banks are pushing back against European leaders
on the size of losses they are ready to accept on Greek bonds
as officials struggle to rescue the debt-laden country while avoiding
a default.
[Via: Bloomberg]
[Editor's note: Greece? So the austerity and the previous
bailout deals and billions in capital infusions didn't work? And
now, God forbid, the banks will have to take losses of 60% on
their investments? Don't worry, there is certainly a plan in the
works, or at least, there's a plan to get together about putting
together a plan.]
- U.S.
Taking $1T From China While Aiding Country, Too?
China is one of the biggest economies in the world and grew
at more than 9 percent over the last year. It also has
loaned more than $1 trillion to the U.S. to fund its
deficit-spending.But at the same time, the U.S. sends foreign
aid to China, which lawmakers of all stripes say is just plain
nuts.
[Via: Fox
News]
[Editor's note: It's a bizarro world, but nuts is the new
normal. Wait, did they just say we borrowed $1 trillion? Pocket
change for the HOTUS (Helicopter of the United States) piloted
by Ben Bernanke.]
- France
says EU Summit Failure Could Tip the European Continent into Unknown
Territory
"We are living in crucial times. If the summit is a failure, this
could tip the European continent into unknown territory," the
sources from the ruling UMP party quoted the prime minister as
saying during the meeting. His remarks came as Europe's leaders
scrambled Tuesday to convince banks to take massive losses on
Greece's debt, and shield Italy from falling victim to the crisis,
on the eve of a decisive summit.
[Via: MSN]
[Editor's note: Fear mongers...."crucial times" ..."unknown
territory"..."massive losses".... these doomers will never quit.
LOL.]
- U.S.
Stocks Fall on Data
Stocks extended losses after consumer confidence unexpectedly
slumped in October to the lowest level since March 2009, when
the U.S. economy was in a recession, as Americans’ outlooks for
employment and incomes soured. Separate data showed that home
prices in 20 U.S. cities dropped more than forecast in August,
highlighting one of the obstacles facing the economic recovery
in its third year....U.S. stocks fell, halting a three-day rally,
as United Parcel Service Inc. (UPS) and 3M Co. (MMM) slumped after
reporting results...
[Via: Bloomberg]
[Editor's Note: UPS, 3M, Netlflix, et. al. have issues with earnings...
Europe is in trouble...consumer confidence dropped... home prices
are falling year over year... and stocks are dropping why? This
doesn't make sense... None at all.]
- Gold
Rallies to Daily High On Fresh Safe-Haven Demand
Comex gold futures have rallied to their daily highs on fresh
safe-haven buying interest following news that a Euro zone finance
ministers meeting scheduled for Wednesday has been canceled. However,
reports said the general EU summit meeting for Wednesday is still
on.
[Via: Kitco]
[Editor's Note: Why would people be buying gold if it isn't
backed by anything?!?!?!]
We have this
funny feeling that something's not right.
Maybe it's
the 24 hours news cycle. But, even that just proves that the system
is in such disorder right now that no one really knows what is happening
or what we can expect.
Uncertainty,
confusion, volatility, disorder and incompetence pervade the economic,
financial, political and social systems of the world. This has been
the case since 2008 with nothing but platitudes and conjecture jerry-rigging
it together.
This will not
end well (see
here, and here,
and here).
Reprinted
from SHTF Plan.
October
26, 2011
Mac
Slavo [send him mail] is a
small business owner and independent investor.
Copyright
© 2011 Mac Slavo
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