British Preppers’ Take On The June 23 ‘Brexit’ Vote

This afternoon I came across a piece about tomorrow’s “Brexit” vote (deciding whether Britain should leave/ remain in the European Union)- from the standpoint of British preppers- on the Preppers Shop UK Blog. From “The UK’s only dedicated prepping shop” on June 21:

How you should prepare for the EU referendum result.

Whichever side of the fence you sit on, it would be foolish to think that the result wont have a massive effect on everyone.

There are plenty of concerns if we stay in. European army, several new countries joining the EU, the crumbling euro, increased immigration putting strains on services and increased control over our laws from the EU.

If we vote out there will inevitably be a temporary drop in the economy and there is of course uncertainty over what will happen, after all its never been done before.

As preppers we should be considering how it could effect us…

The post went on to discuss the prospects for:

• “Social unrest.”
• “Job loss.”
• “Drop in the sterling.”
• “Food & fuel shortages.”

An insightful look at how America’s prepper cousins “across the pond” perceive Thursday’s historic event, which you can read in its entirety here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Michael Pento: ‘U.S. Most Likely Entered Into A Recession At The End Of Last Quarter’

Late last night I read some interesting commentary on CNBC.com about the U.S. economy now possibly being in recession. The author of the piece was Michael Pento, who according to the CNBC “Profiles” web page is “the president and founder of Pento Portfolio Strategies. He also produces the weekly podcast ‘The Mid-week Reality Check’ and is author of the book The Coming Bond Market Collapse.” Pento wrote Tuesday morning:

While investors have been focused on the perennial failed hope for a second half economic recovery, they have been missing the most salient point: the U.S. most likely entered into a recession at the end of last quarter.

That’s right, when adjusting nominal GDP growth for core consumer price inflation for the average of the past two quarters, the recession is already here. But before we look deeper into this, let’s first look at the following five charts that illustrate the economy has been steadily deteriorating for the past few years and that the pace of decline has recently picked up steam…

(Editor’s note: Bold added for emphasis)

An interesting read and arguments, which you can view in its entirety here on the CNBC website.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Wednesday, June 22nd, 2016 GDP, Inflation, Recession, Recovery No Comments

Chicago Pastor Calls On State Of Illinois To Declare ‘State Of Emergency’ Over Financial Woes

One Roman Catholic priest in Chicago is sounding the alarm over the financial health of both the City of Chicago and State of Illinois. Tom Schuba blogged on the NBC Chicago website Monday:

Father Michael Pfleger, the outspoken pastor at St. Sabina’s church in the Auburn Gresham neighborhood, called on the state of Illinois to declare a state of emergency amid dire economic situations in Chicago and Illinois

The city’s broke, the state’s broke and dysfunctional and in downstate Illinois when a hurricane happens, a tornado happens, what do we do,” Pfleger asked. “We call a state of emergency and resources are brought in.”

Pfleger encouraged using federal resources to embolden communities and bolster the police force…

(Editor’s note: Bold added for emphasis)

While I don’t see eye-to-eye with Fr. Pfleger on gun “control” (a subject for which he routinely makes the local news headlines), I do agree with him that some sort of action is required to tackle both Chicago’s and the State of Illinois’ fiscal problems, and that “bolstering” of the Chicago Police Department is necessary.

You can read the entire piece on the NBC Chicago website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Signs Of The Time, Part 107

Personally, I believe that whoever wins the White House in November will be inheriting a “poisoned chalice” when it comes to the economy.

I strongly suspect the United States will enter into recession (if it’s not already in one) shortly.

And I fear the next (final?) stage of a U.S. financial crash I first started warning about back on Memorial Day Weekend 2007 may be helped along with the election of one particular candidate to the highest political office in the land after spotting the following this morning on the CNBC website.

John Harwood reported Monday:

One of President Barack Obama’s economic advisers will join Hillary Clinton’s campaign in another sign of close coordination between the White House and the presumptive Democratic nominee.

Jacob Leibenluft, deputy director of the National Economic Council, will become a senior policy adviser as Clinton prepares to fill out her economic agenda for the general election…

(Editor’s note: Bold added for emphasis)

Anyone looking forward to four (eight?) more years of “Obamanomics”?

If so, it sounds like that could very well be what’s in store for the country again after November 8, based on this news and other developments I’ve been following.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Harwood, John. “Hillary Clinton to add Jacob Leibenluft, Obama’s long-time economic adviser, to campaign team.” CNBC.com. 20 June 2016. (http://www.cnbc.com/2016/06/20/hillary-clinton-to-add-jacob-leibenluft-obamas-long-time-economic-adviser-to-campaign-team.html?utm_content=buffer72413&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer). 21 June 2016.

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Recap Of Illinois State Rifle Association’s 14th Annual Range Open House

This past Saturday, the Illinois State Rifle Association (“Dedicated to education, safety training and support of Illinois firearm owners”) held its 14th Annual Range Open House in Bonfield (near Kankakee). Here’s a recap of “NRA Day at the ISRA Range” from On Target TV:


“Illinois State Rifle Association NRA Day”
YouTube Video

Sorry I missed the educational and adrenaline-pumping event. Here’s hoping I’ll be able to make it next year!

For more information about the ISRA, you can visit their website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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More Financial Pain For Many Chicago Homeowners In The Coming Days

When it comes to keeping on top of the latest financial developments coming out Chicago, I’ve been out of the loop lately (no pun intended).

As if that really mattered. Like I’ve been saying for some time now- the writing is on the wall for the “Windy City” concerning its finances.

I’ve also pointed out time and time again Chicagoans should expect higher/new fees, fines, and taxes (in conjunction with less government services) going forward.

Case in point- the next round of property tax bills. Hal Dardick reported on the Chicago Tribune website last week:

Chicago homeowners should brace themselves for sticker shock when they open their mailbox at the end of the month: property tax bills on average 13 percent higher than last year.

The big increase is mostly being driven by the record tax increase Mayor Rahm Emanuel engineered last fall to fix city pension funds for police officers and firefighters.

Cook County Clerk David Orr released tax rate figures Monday, revealing the practical effects of City Hall’s painful decision. The owner of a single-family home with the current average sale price of about $225,000 can expect to see a property tax bill of $3,633, an increase of about $413

(Editor’s note: Bold added for emphasis)

Compare this to an overall 9.3 percent citywide increase over the last three years, according to Dardick.

And just this morning one local TV news broadcast reported that the Chicago Teachers Union is demanding Mayor Emanuel raise taxes even more for school funding.

I think it’s pretty safe to say that more financial pain is heading Chicagoans’ way.

As for the rest of Cook County, the Tribune piece noted:

By comparison, homeowners in suburban Cook County typically can expect more modest increases, averaging 2 percent, although they already are paying substantially more than their city counterparts, according to Orr’s data…

Last I checked County finances weren’t too pretty either, so these suburban homeowners may very well be in the same boat as their city counterparts down the road.

For more information, check out Dardick’s entire article here on the Tribune website.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Jeremy Grantham Made Commander Of The Order Of The British Empire

Jeremy Grantham, the British-born investment strategist and founder/former chairman of Grantham, Mayo, Van Otterloo & Co. (currently oversees $99 billion in client assets), was recently made a Commander of the Most Excellent Order of the British Empire by Britain’s Queen Elizabeth II.

Grantham, whose individual clients have included former U.S. Vice President Dick Cheney and U.S. Secretary of State John Kerry, was awarded the CBE for his philanthropic service.

Regular readers may recall that the last time I blogged about the “crash prophet” (May 12), he warned about U.S. stock prices (“the threshold for a bubble level for the U.S. market is about 2300 on the S&P 500”) and housing prices (“in 12 to 24 months U.S. house prices – much more dangerous than inflated stock prices in my opinion – might beat the U.S. equity market in the race to cause the next financial crisis”).

Survival And Prosperity would like to congratulate Mr. Grantham on his CBE.

Christopher E. Hill
Editor

(Editor’s notes: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Father’s Day Weekend In Chicago: 59 Shot, 13 Killed

The Chicago news media is reporting there were 13 dead and 46 wounded in shootings this Father’s Day weekend.

The HeyJackass! website (“Illustrating Chicago Values”) notes there were 7 killed and 32 wounded over Father’s Day weekend in 2015, 6 killed and 24 wounded in 2014.

Anyone else noticing a trend here?

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Monday, June 20th, 2016 Crime, Public Safety No Comments

Quote For The Week

“It is hard to play God when you lack the quality of being all-knowing.”

-Martin Armstrong (economist at Armstrong Economics and subject of the 2014 documentary The Forecaster, in a June 20 blog post on his company’s website)

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Monday, June 20th, 2016 Quote For The Week No Comments

Quote For The Week

“So the San Bernardino, California, terrorist attack (pretty pathetic how some tried real hard to paint this as merely workplace-related violence) wasn’t exactly ‘major,’ and anyone with at least half-a-brain should have seen this coming. But the Muslim extremists are here, and they will strike again at the ‘homeland’ on the level of what just happened out on the ‘Left Coast’ (all that gun ‘control’ didn’t work out too well for California in this instance) all the way up to another 9/11-type attack with thousands of Americans dead…”

-Christopher E. Hill, Survival And Prosperity, December 8, 2015

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

This Project Dedicated to St. Jude
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