|Snow-capped Mt. Henry in the distance and Lake Koocanusa below. Mt. Henry is actually in British Columbia.|
Unfortunately, things in "the other world" aren't all that great. The middle east is in a mess and oil is over $106 this morning. I also just learned that Irish bonds are yielding 10%, a very bad sign. Many people actually think that the Fed can control interest rates. Well, short rates they can but not long bonds. Those rates are set by the marketplace. When faith in the US economy and the once mighty dollar really goes to hell in a hand basket long bond rates will rocket. Anyone with credit card debt or an adjustable mortgage will get slaughtered. When people start having to make higher payments on a house that is losing value I'd imagine there will be a whole new wave of people just walking away. It is going to happen, the only unknowable is the precise when.
I just love reading all the BS about the economic recovery. It is such blatant BS. It shows just how dumb the government thinks the public is. For the most part I think they're right. Or maybe people just believe in the power of positive thinking. Actually, I believe in it myself but positive thinking cannot overcome stupid, irresponsible living and people have been living so far beyond their means it's almost laughable. Only it's really not funny and it hasn't happened by accident. This used to be a country built on self-reliance and hard work. Today it sits in the quicksand of debt and dependence.
Funny and not so funny statistics about our so-called economic recovery.
Precious metals have been on the move again, silver in particular. I believe JP Morgan has a very large short position in silver and it looks like a short squeeze on. Since I believe JPM is amongst the biggest crooks on the planet I'd love to see them get crushed. Problem with that is; the government would mostly likely bail them out with taxpayer money. What a racket these bankster gangsters have. They cannot lose. They make a fortune screwing the public when things go their way and if things should turn against them, no problemo, the government just bails them out and the public gets screwed again. If memory serves the averge walls street bonus is around $128,000. And they say crime doesn't pay?!