Employment

Signs Of The Time, Part 100

A milestone has been reached with the “Signs Of The Time” series of posts.

I wasn’t sure what material I’d use for post number 100, when manna from Heaven suddenly appeared in the form of a headline on the home page of my Internet service provider:

Why people won’t say the economy is booming

By most measures, the economy is doing great. So, why are people reluctant to admit it?

Obama: ‘We went through a really scary time’

In the accompanying piece, Sam Ro, managing editor at Yahoo! Finance, wrote Sunday:

By most measures, the economy is doing great. The US labor market is creating around 200,000 jobs a month, which has brought the unemployment rate tumbling to 5%. Meanwhile, home prices are up and stock prices (GSPC) are near all-time highs.

So, why are there so many people so reluctant to acknowledge how good things are today?

One word: trauma.

“Some people are still recovering from the trauma of what happened in 2007-2008,” President Barack Obama said in an interview with Yahoo Finance’s Nicole Sinclair. “You know, we went through a really scary time.”

Trauma has the ability to distort how we perceive our present reality…

(Editor’s note: Bold added for emphasis)

Just when you thought you’ve heard everything, right?

It gets better. Ro continued:

Consider the joy that comes from jumping on a trampoline or the thrill one gets from speeding downhill on a bicycle. For many folks, the unexpected and painful reality of a nasty spill and a couple of fractured bones will forever take away the bliss that once came from those activities. The trampoline and bicycle will continue to offer the same experience, but the trauma can be so intense that it can force many to keep their feet on the ground.

Losing your job, getting evicted from your home, and watching the value of your retirement savings crash can be deeply distressing. And so even when you get a new job, move into a new home, and recoup all of your investment losses, that new persistent feeling of uncertainty that followed the traumatic will discount everything you have…

Any readers ever see that iconic sports film The Natural, starring Robert Redford? Is it just me, or does all this kind of remind you of that part in the movie where the club hires a shrink to talk to the players when everything is going wrong?


“Losing is a disease”
YouTube Video

No, not that bit where the ballplayer gets hit in the (g)nards. But that “losing is a disease” speech.

And just like Roy Hobbs rolled his eyes and walked out of the locker room, I wouldn’t blame any of you for moving on from this post after reading that stuff about “trauma.”

“Trauma has the ability to distort how we perceive our present reality”

I suspect the “present reality” is crystal-clear for a growing number of Americans- trauma not needed.

And in more than a few instances, their economic “reality” definitely does not match what’s being peddled by Washington and its allies in the mainstream media these days.

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

Source:

Ro, Sam. “Obama uttered a single word that explains so much about America today.” Yahoo! News. 17 Apr. 2016. (https://www.yahoo.com/news/obama-us-economy-americans-recovering-from-trauma-175254482.html). 18 Apr. 2016.

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Peter Schiff: 2008 A ‘Tremor,’ ‘Real Earthquake Is Still In Our Future’

The CEO of Euro Pacific Capital, Peter Schiff, appeared on the Alex Jones Show last Friday. Schiff, who correctly-called last decade’s housing crash and recent global economic crisis, talked about the state of the U.S. economy- and how the 2008 crisis was just a “tremor” before the real earthquake. From their exchange:

JONES: So you think that we may already actually be in a recession.
SCHIFF: All of the indicators, if you look at most of the economic indicators that are out there, they’re flashing recession. I mean, the only thing that isn’t is the low unemployment rate and the jobs that we’re creating. But then when you look beneath the surface, and we’ve discussed this before on your program, when you realize that all the jobs that are being created are low-paying, part-time jobs. The reason there are so many jobs is because people now have two or three. And so if you have three jobs that you count as having- it’s three instead of just one. But they don’t add up to one good, full-time job. And you have lots of people who have left the labor force. And I think one of the reasons the unemployment claims are so low is because so few people are being hired, that not that many people are being fired. You can’t lose a job unless you get a job. And so since we’re really creating so few legitimate jobs, there’s not a lot of people that are collecting unemployment. So this economy is very weak, despite the rosy scenario, the fiction, that the President is trying to paint.

And from later on in the program:

JONES: Speaking of earthquakes, you’re famous for quoting, I mean famous for this quote, “2008 was a tremor for the earthquake that’s coming.” Is that what you’re still saying?
SCHIFF: Yeah and I’ve been saying that all along even before 2008. Because I saw 2008 coming, and unfortunately I also saw how the government would respond to 2008. And they did exactly what I feared they would do, what I warned they would do, and that is exactly why the real earthquake is still in our future- it’s not in our past. And people have to prepare for that. And by the way, silver hit a new high today for this year, for 2016. So people are starting to wake up. It’s happening very slowly, but it’s happening.


“Real Economic Earthquake Is In Our Future, Not Our Past”
YouTube Video

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

(Editor’s note: 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.)

Peter Schiff’s latest book…

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Signs Of The Time, Part 94

From Elizabeth Harrington last Thursday on The Washington Free Beacon website:

“CIA Has Dedicated Program to Recruit Transgender Individuals”

The Central Intelligence Agency three-year “Diversity and Inclusion Strategy” includes a dedicated program to recruit transgender individuals and agency-wide “unconscious bias” training.

The plan, released by the CIA’s Diversity and Inclusion Office last week, lays out several goals for “weaving diversity and inclusion throughout the talent cycle.”

One agency goal is “Becoming an Employer of Choice,” and includes “dedicated programs” to recruit every demographic imaginable…

“We will continue to enrich our workforce by targeting diverse communities across the United States to meet our talent needs, with dedicated programs for citizens of African, Asian, Hispanic, Middle Eastern, South Asian, and Native American descent; Lesbian, Gay, Bisexual, and Transgender Individuals; Persons with Disabilities; Veterans; and Women,” the CIA said…

As a U.S. citizen that’s had contact/history with the Agency in the past, I have no problem with this new CIA “workforce enrichment” plan- transgender targeting included- as long as officer candidates are selected for being the best and brightest and not because their hiring helps fulfill some discriminatory and archaic quota program.

By the way- I have no knowledge that the “DIS” plan includes the use of “quotas.” I’m just sayin’.

All I know is this. I’d sleep better at night knowing our civilian intelligence apparatus is staffed by the “cream of the crop” rather than individuals who are “second string” but tick some box(es) that’s highly-questionable as to its relevance for tackling the mission-at-hand:

Preempt threats and further US national security objectives by collecting intelligence that matters, producing objective all-source analysis, conducting effective covert action as directed by the President, and safeguarding the secrets that help keep our Nation safe.

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

Source:

Harrington, Elizabeth. “CIA Has Dedicated Program to Recruit Transgender Individuals.” The Washington Free Beacon. 18 Feb. 2016. (http://freebeacon.com/issues/cia-dedicated-program-recruit-transgender/). 24 Feb. 2016.

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Peter Schiff: U.S. Stocks In Bear Market, Economy In Recession, ‘Going To Be Longer And Deeper Than The Great Recession of 2008-2009’

The last “crash prophet” I’ll be talking about today is Euro Pacific Capital CEO Peter Schiff. Earlier Monday I watched Graham Ledger interview Schiff, who correctly-called the housing bust and economic crisis last decade, on the January 21 installment of The Daily Ledger show (One America News Network). From their exchange:

LEDGER: Do we have the indicators right now of a bear market?
SCHIFF: Well, sure, not only are we in a bear market in stocks. I think we’re in a recession, economically. When you played the clip from President Obama’s State of the Union- when he talked about people peddling fiction I thought he was talking about me. But I’m the one who’s selling reality. He’s peddling a bill of goods trying to pretend this recovery is real. But whatever it was- it’s over. And I think the recession that we’re in now is going to be longer and deeper than the Great Recession of 2008- 2009. And of course, all bear markets begin as corrections. But they don’t officially call it a bear market until it’s down 20 percent. The Russell 2000 is down 25 percent, the Dow Transports are down 30 percent, many individual sectors and stocks are down a lot more than 20 percent. And so it sure feels like a bear market even though officially Wall Street hasn’t declared it a bear market. But if the Fed doesn’t come up with a QE 4. Which I think it’s going to do. I think it’s a mistake. They shouldn’t do it. They shouldn’t have done 1, 2, and 3. But the only way to stop an official bear market will be for the Fed to reverse course, reduce rates, and launch another round of QE. That’s it.


“Market Tanking After Fed Pricked Their Own Bubble”
YouTube Video

Schiff went on to talk about how the U.S. auto “bubble” has burst, the U.S. housing market is also a “problem,” and that he predicts “a lot of people are going to lose their jobs in this recession.” Regarding the Federal Reserve and Janet Yellen? They’re going to try and keep this thing afloat until November. From the interview:

Obama’s whole claim to fame is that he inherited a disaster, and now everything is great. The truth is, he inherited a disaster, and now it’s a bigger disaster. But he doesn’t want the voters to know that in November. And I think Janet Yellen is a team player. I think she looks at herself as a member of the Obama administration. She is a very partisan, liberal Democrat. And she doesn’t want this thing to collapse until the election is over. Now, I don’t know if she’s going to succeed. I think she’s going to try though.

Like fellow “crash prophet” Jim Rogers, Schiff believes China is being used as a scapegoat for America’s latest financial woes.

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

(Editor’s notes: Info added to “Crash Prophets” page; 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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Peter Schiff: Fed Will ‘Do More Damage To This Bubble Economy’ If They Raise Interest Rates In December

“Total nonfarm payroll employment increased by 271,000 in October, and the unemployment rate was essentially unchanged at 5.0 percent, the U.S. Bureau of Labor Statistics reported today…”

-“Economic News Release,” November 6, 2015, U.S. Department of Labor, Bureau of Labor Statistics website

Euro Pacific Capital CEO Peter Schiff savaged the incredibly-hyped October U.S. jobs report released last Friday in a new entry to The Schiff Report YouTube vlog that same day. Schiff, who correctly-called the housing bust and economic crisis last decade, also responded to the popular belief that the Federal Reserve will be raising the federal funds rate next month. From the video:

Everybody now has jumped to the conclusion that a December rate hike is a lock. It is a sure thing, the Fed has no excuse, they’re going to move interest rates, lift-off at last in December. And as far as I’m concerned, there’s nothing in this job report that would say that. There’s nothing here that’s going to require the Fed to raise interest rates if they don’t want to.

Why does Schiff think this? He doesn’t believe it’s part of the U.S. central bank’s game plan. He added:

See, this is what scares the Fed. Let’s assume the Fed actually does raise rates. What do they do if that rate hike, even though it’s really small, what if it prompts a stock market decline? How do they stop it? Cut rates? They’d look like fools if they do that. I mean, if the Fed raises rates and the stock market goes down, people might start believing that there’s no Yellen put. That the put is expired. And that there’s no more safety net. I mean, that could be very scary if the stock traders don’t think they’ve got the Fed to protect them. Because how can Janet Yellen protect them if she’s raising rates? She can only protect them if she can cut rates. So it’s very risky for the Fed to upset the apple cart, right? There’s an expression- “If it ain’t broke, don’t fix it.” And as far as the Fed is concerned, extend and pretend is working like a charm. Everybody believes the Fed’s about to raise rates, even though they don’t actually say they’re going to do it. So they never have to really do anything. If they get the benefit of a rate hike psychologically, they get to pretend we’ve got this great economy, but they don’t actually have to raise rates, and prove to everybody that we don’t have a great economy. So there’s a lot at stake here, and I think it’s a lot easier for the Fed to punt again, and to say, “Look, you know, it’s still possible that we’ll raise rates in March” or whenever they want to pretend.

And if Yellen and the Fed does raise rates in December? Schiff warned:

I think if the Federal Reserve actually raises rates, they’re simply accelerating the moment in time when they’ll have to cut them again. I think if the Fed raises rates, they’re going to do more damage to this bubble economy, which means they’re going to have to blow even more air to fill it back up. So if they do raise rates, that means the onset of QE 4 could happen even sooner than if they just continue to pretend to raise rates but not do it.


“Over-Hyped Oct. Jobs Report Does Not Assure Dec. Rate Hike.”
YouTube Video

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

(Editor’s note: I am 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 presented herein)

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SP Intel Report- November 9, 2015

Chicagoland

Nearly 1 Out Of 3 City Of Chicago Workers Made $100K Or More Last Year

Having lived in a northwest side neighborhood chock-full of City of Chicago employees prior to moving out to the ‘burbs, I wasn’t really surprised to learn of the following. Chris Fusco and Tim Novak reported on the Chicago Sun-Times website yesterday:

Nearly one out of every three workers on the city of Chicago payroll made $100,000 or more last year — a far higher percentage of six-figure employees than in state or Cook County government.

That’s according to a Chicago Sun-Times analysis that for the first time combines city workers’ salaries, overtime and other extra pay.

Twenty-six city workers drew paychecks that eclipsed Mayor Rahm Emanuel’s pay of $216,210, the analysis found. They included a police detective, two fire department ambulance commanders and two water department operating engineers…

(Editor’s note: Bold added for emphasis)

Fusco and Novak noted that there were 35,761 City of Chicago employees last year. And nearly 1 out of 3 made $100K or more? Nice gig if you can get it, right? Regrettably, I predict that when tough financial times finally arrive at the Windy City’s doorstep, even “clout” won’t be able to protect certain positions and salaries from getting slashed.

Cook County President Toni Preckwinkle To Tax Ammunition Sales?

Gun “control” (or gun “safety” as certain word wankers are now trying to call it) is on the march again in Cook County. From a County blog post Friday:

In an effort to reduce gun violence and improve public safety by creating new revenue for preventative actions, President Preckwinkle is also proposing a tax on rounds of ammunition sold in Cook County. The ammunition tax, either a penny or nickel per round depending on the category of ammunition, is aimed at addressing the costs of future gun crimes and the revenue generated will be dedicated to public safety initiatives.

President Preckwinkle, long an advocate of common sense gun laws, previously supported and passed a $25 tax on gun sales in Cook County. She has advocated for legislation that would ban assault weapons and high-capacity magazines, require registration of existing firearms and require background checks on all firearms sales at gun shows — commonly referred to as the “gun show loophole.”

(Editor’s note: Bold added for emphasis)

Tax law-abiding firearm owners in Cook County for the actions of criminals? Yeah, that makes a lot of “common sense.” You see, felons and other convicted criminals can’t purchase ammunition legally in Cook County, because they shouldn’t be able to get an Illinois State Police-issued Firearm Owner’s Identification Card. From the Illinois State Police, Firearm Services Bureau website:

Unless specifically exempted by statute, any Illinois resident who acquires or possesses firearms, firearm ammunition, tasers or stun guns within the State must have in their possession a valid FOID card issued in his or her name…

To be eligible for a FOID card, a person must be 21 years of age or have a parent or guardian sponsor that is eligible for a FOID card. An applicant must not be prohibited from possessing firearms in accordance with state or federal law. This requires the applicant is/has:

• Not been convicted of a felony…
• Not subject to an existing order of protection.
• Not been convicted within the past 5 years of battery, assault, aggravated assault, violation of an order of protection, or a substantially similar offense in another jurisdiction, in which a firearm was used or possessed.
• Not been convicted of domestic battery, aggravated domestic battery, or a substantially similar offense in another jurisdiction…
• Not convicted of a misdemeanor crime of domestic violence…

So what’s President Preckwinkle’s goal from a Cook County ammo tax then? My guess is gun “safety.” Something tells me we’ll be seeing the county in court if they decide to pursue this matter.

Illinois

Illinois Open Range Program To Be Held On November 14

Speaking of guns and the Illinois State Police, it’s that time of year again in the “Land of Lincoln.” From the website of central Illinois NBC affiliate WAND 17 on Friday:

The Illinois Department of Natural Resources is teaming up with Illinois State Police to promote hunting safety through the annual Open Range Program on November 14.

Officials say hunters and observers will be invited to ISP ranges in order to check the sighting in their shotguns…

Ranges in Effingham, Pawnee, Pittsfield, Macomb, Joliet, and LaSalle will be open for the program from 8 AM until 4 PM this coming Saturday. For more information, head on over to WAND 17’s website here.

International

Greece’s Government Confiscating Contents Of Bank Safe Deposit Boxes?

Last week, I was working on my offshore asset protection-related projects quite a bit. And here’s something disturbing I noted Friday in a post on Offshore Safe Deposit Boxes that may interest you:

Just when the reputation of bank safe deposit boxes couldn’t get any worse comes this out of Greece. Anthee Carasavva reported on The Times (UK) website back on October 12:

Greece’s government is raiding savers’ safe deposit boxes to raise revenue and stamp out tax evasion.

Tryfon Alexiadis, the deputy finance minister, said yesterday that Greeks owing more than €150,000 in back taxes would be targeted. Those suspected of tax evasion would also come under scrutiny and their bank deposit boxes prised open without notice

“Safe deposit boxes across the country will be subject to these inspections immediately,” Mr Alexiadis told an Athens-based TV network…

(Editor’s note: Bold added for emphasis)

It’s being reported that the tax inspectors could seize half of the cash found, and stocks, bonds, jewelry, and works of art. You can read the entire post in its entirety here on my other blog.

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

Source:

Fusco, Chris and Novak, Tim. “THE WATCHDOGS: A third of Chicago city workers make $100k or more.” Chicago Sun-Times. 7 Nov. 2015. (http://chicago.suntimes.com/news/7/71/1072015/city-haul-3-of-10-chicago-city-workers-make-100000-a-year). 8 Nov. 2015.

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Peter Schiff Predicts ‘A Horrendous Christmas,’ ‘The Dow Is Going To Rally From Here,’ And ‘Gold Stocks Are Going To Take Off’

Euro Pacific Capital CEO Peter Schiff just added a new entry to The Schiff Report YouTube vlog Friday. Schiff, who correctly-called the housing bust and economic crisis last decade, shared some forecasts with viewers. From the video:

I think that given the lousy jobs number that we just got, given the revision to the previous numbers making them worse, given now today’s factory orders and the economic data that we’re likely to get next week, I think before long- or it’s not going to be too long- before the Atlanta Fed GDP now reflects a negative print, a negative number, for third quarter GDP. Now, if we get a negative number for third quarter GDP, I bet we get another negative number that’s even bigger for the fourth quarter. Because if you look at the trend over the last six years or so, the fourth quarter is always weaker than the third. The third quarter is a stronger quarter. And if that quarter is weak, what does that tell you about the second quarter? It’s going to be even weaker. So if we get a negative third quarter, and then we get a negative fourth quarter, well, that’s a recession. Right? Technically that’s a recession. What the Fed going to do?

This is going to be a horrendous Christmas, that’s my forecast, as far as what the retailers are expecting and what they’re going to get. This is probably going to be the worst Christmas shopping season of the recovery. And I think next year a lot more layoffs are coming…

The Dow was down as much as 250 points or so early in the morning. But then the buyers came in because they realized, “Hey wait a minute! If the Fed isn’t going to raise rates, then this party can continue for a while longer.” And the Dow finished up 200 points. That’s a 450 point move. We were almost down at the Black Monday lows. I think this was a pretty significant reversal. My guess is that the Dow is going to rally from here. I don’t know if it’s going to rally to new highs- that would be a stretch. But I think right now, given the weakness of this report, I think that you can see some strength in the U.S. stock market…

This time, if the dollar rises based on an anticipation of rate hikes, and the hikes don’t even come, can you imagine how much selling there’s going to be on that fact, when you don’t even get the event that everybody’s been waiting for? That’s going to work in reverse for gold. People have been selling gold for the same reason. “Oh, the Fed’s going to raise rates- that’s going to be bad for gold.” You know, when the Fed raised rates last time, it was great for gold, because gold rose the whole time. But imagine how good it’s going to be for gold when everybody expects a rate hike, and instead we get QE 4. I think this is going to be the biggest up-leg of the gold bull market, which means the gold stocks are going to take off if I am right, because gold stocks today are cheaper than they were when the last bull market began when gold was under $300 an ounce. They’re cheaper now with gold at $1,130 than they were when gold was $270…


“Sept. Jobs Report Confirms Weakening Labor Market”
YouTube Video

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

(Editor’s notes: Info added to “Crash Prophets” page; I am 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 presented herein)

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Peter Schiff: ‘Inevitable’ QE 4 Will Lead To U.S. Dollar Crisis

On August 28, 2015, Euro Pacific Capital’s Peter Schiff spoke at The Jackson Hole Summit, “the first ever event to discuss monetary and fiscal policy at the same time as the Central Bankers are discussing policy,” according to sponsor American Principles Project. Schiff, who correctly-called the housing bust and economic crisis last decade, warned those in attendance that because the Federal Reserve isn’t allowing market forces to fix imbalances in the financial system, the United States is ultimately heading towards a dollar crisis. From the presentation:

The Fed needs to raise interest rates right now. Not because the economy can take it, but because it can’t. Because, again, it is a bubble that needs to be popped. The sooner we pop it, the better. But of course we’re going to find out that the Fed didn’t save us from the financial crisis. They simply interrupted it. And they kicked the can down the road. And we’ve now caught up to the can. And, the problem is, because we’ve delayed solving the problem- see, the financial crisis was the beginning of the solution. And the Fed interrupted it. The market was trying to fix what the Fed broke. Real estate prices coming down were part of the solution. Banks failing was part of the solution. That recession was part of the solution. And the Fed interrupted it. And instead they gave us an even bigger bubble. And now we’re going to have to deal with that…

All the real economic recovery is being prevented. The Fed has got it all dammed up with its monetary policy. But it’s afraid to release the dam because it’s going to unleash all of these forces, this creative destruction that is so necessary, because we cannot have this genuine economic recovery that would actually lift living standards and create good jobs for the American people. We can’t do that unless we allow this phony economy that’s been resurrected on the foundation of cheap money collapse. But nobody is going to allow that to happen…

And then they’re going to launch QE 4. Which nobody really understands. I think it’s inevitable. I said this from the beginning. I said that when they launched the very first round of quantitative easing that they had walked into, checked into, a monetary roach motel. That there was no way out. Once they went down this line, that we were in for the duration. You live by QE, you die by QE. I said we’d have more QEs than Rocky movies. And I think they had six of those. And of course they got progressively worse. And so I think QE 4 is going to be even worse than the last rounds. And ultimately… ultimately, where we are headed is to a dollar crisis…


“Peter Schiff at Jackson Hole Summit: The Monetary Roach Motel”
YouTube Video

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

(Editor’s notes: Info added to “Crash Prophets” page; I am 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 presented herein)

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Illinois Experiences ‘Summer Of The Pink Slip’

On the heels of recent Survival And Prosperity posts (August 18 and 19) about Illinois not being as business-friendly as it could be comes this doozy from the Chicago Tribune website Saturday morning. Complete with headline:

Layoffs could spell more trouble for Illinois

This may be remembered as the Summer of the Pink Slip in Illinois, which already lags behind its Midwestern neighbors when it comes to job growth.

Thousands of layoffs across the Chicago area range from factory jobs at the Mondelez plant on Chicago’s Southwest Side to white-collar jobs at Walgreens’ Deerfield headquarters. The Mondelez layoffs reflect its efforts to cut costs by shifting positions to more efficient operations in Mexico, but most of the recent cuts have resulted from the elimination of redundant jobs following mergers.

It’s a boom year for mergers and acquisitions activity, commonly referred to as M&A, and the job cuts tend to benefit shareholders of the acquired companies. But the silver lining is harder to find for Illinois, which has been grappling with its own enormous fiscal problems…

(Editor’s note: Bold added for emphasis)

“Summer of the Pink Slip.” Nice.

Greg Trotter went on to talk more about the relationship between layoffs and M&A activity in the state, as well as Illinois appearing to have the worst job growth performance of any Midwest state (Federal Reserve Bank of Chicago). You can read the entire piece on the Tribune website here (registration required to access).

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

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Monday, August 31st, 2015 Business, Employment No Comments

The Survival Podcast’s Jack Spirko Thinks Coming Recession Is Not The ‘Big One’

I recently listened to an episode of The Survival Podcast (named a “Resource Of The Week” back in March 2011) that really caught my attention. Modern survivalist and host Jack Spirko wrote in the intro to episode 1608 (July 21, 2015), “The Next Recession or the One that Never Went Away?” on The Survival Podcast website:

Officially the recession of 08-09 ended in late 09, or 6 years ago, well, typically we never make it 10 years in the best of times with out at least a minor recession. The questions at this point are not is a recession coming and will it effect us, they are when will it get here and how badly will it effect us…

The big question for most preppers is, “Is this the big one”. My gut is no. Keep in mind I said “the big one would be after after a false recovery, a marked drop in unemployment and likely to occur in late 2015 to mid 2016″, as long ago as 2009 when many were claiming that recession was “the big one”. So why do I now disagree with myself, tune in today to find out, and to find out why not the big one, doesn’t really mean, “not so bad”.

(Editor’s note: Bold added for emphasis)

Actually, Spirko has suspected the next recession wouldn’t be the “big one” for some time now. I blogged about episode 1127 (May 9, 2013), “Risk Assessments and Readiness Audits,” back on May 22, 2013, where the modern survivalist said:

And sooner or later we are going to get to a point where inflation, the devaluation of money, the ridiculous level of debt and the interest there on it, do their full-scale, whole cancer-style damage, eat the patient from the inside, and we wake up to terminal financial illness as a nation.

But that’s not happening tomorrow. That’s not happening next year. That’s not even happening in the next 5 years. There could be recessions and things in the middle. But that day is probably at this point 10 years into the future or more.

And I don’t claim to be Nostradamus. I don’t know the exact timeline. I can just do math and can say with mathematical certainty this system at some point must fail.

(Editor’s note: Bold added for emphasis)

Spirko laid out what needs to be done now in his July 21 show. He advised:

We need to, I think at this point, assess our preps for hard financial times, more than anything else right now. I’m not talking about economic collapse, I’m talking about economic struggle. Everybody’s waiting for economic collapse, no one understands we’re standing in the middle of it. We’re standing in the middle of it…

Buck up your preps guys. Get ready for tougher times ahead…

The United States economy does not have to collapse for your personal economy to collapse. Nine million people found that out the hard way last time. Be prepared this time. Be prepared. Prepare to feed yourself, clothe yourself, take care of yourself, provide for your own security. Start thinking about the efficiencies of your energy usage, and get very, very diverse with your skill set, your knowledge, your ability to earn income. That’s how you prepare for what’s coming.

Somber stuff. You can listen to episode 1608 via The Survival Podcast website here.

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

(Editor’s note: I am 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 presented herein)

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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
Patron Saint of Desperate Situations



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RSS Chris Hill’s Other Blog: Offshore Safe Deposit Boxes

  • Spring Break
    I will be on my “spring break” from blogging on Offshore Safe Deposit Boxes after publishing this post. New material will appear again on the blog starting Monday, May 2. Thanks, Christopher E. Hill Editor
  • Ecuador President Announces One-Time Tax On Millionaires, Workers After Earthquake
    From an Associated Press article on the Fox News Latino website Thursday: President Rafael Correa announced Wednesday night that he is raising sales taxes and will charge a one-time levy on millionaires to rebuild cities devastated by Ecuador’s worst earthquake in decades… Using authority granted by the state of emergency he declared after Saturday night’s […]
  • The Safe House In Singapore
    More safe deposit box news out of Singapore. The Middle Ground, a news site covering that part of the world, ran an article back on March 31 about award-winning bullion dealer Silver Bullion and its subsidiary- The Safe House (TSH), a Singapore private, non-bank vault. Ryan Ong wrote: Silver Bullion is a company that owns […]
  • Bank Branches To Suffer ‘Dramatic Decline’ Over Next Decade?
    Have a safe deposit box at a local bank branch? You may be kissing it goodbye in the next couple of years. Niraj Chokshi reported on The Washington Post website Tuesday: That bank branch on the corner — and the one on the way to work — may not be there much longer. As technology […]
  • Degussa Singapore Latest
    Back on November 3, 2015, I blogged about how Degussa, a leading international player in the precious metals world, had just opened its first Asian branch in Singapore. Yesterday, I came across an article on The Edge Markets website about Degussa Singapore. Jeffrey Tan reported: Degussa Singapore is part of an expansion plan driven by […]