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You might think, based on what's getting big play on the news channels today (like the rescue of a lost whale, for example) that things are going on "pretty much normal" around the world. If you persist in believing the mainstream media (MSM) that's fine, and a personal decision. But, around here, we're seeing convincing signs that our long predicted economic melt down is beginning and that it will be a sort of slow motion, gathering steam, like a snowball rolling down a steep mountain that gradually turns into an avalanche.
So, while most people are asking themselves if they should pop for another $100 to see some pay-per-view deal on TV, we're checking out things like multi-fuel lights (that will run on gas, diesel, lamp oil, or whatever is handy) and stocking up on necessities like toilet paper and 7.62 ammo. Enjoy the whale rescue. Circuses and bread.
Our friends with the event predictive software are still seeing (besides more mine disasters in early February) a big event before the end of March that will go into a sort of hibernation until the end of August and then bloom as massive war most likely in September. The outlook is not lost on us.
More than 70-deaths are now attributed to the great freeze of '06 which has settled over Russia. It'd be a tough sell to convince someone in Moscow about global warming for the next few weeks. Better: Talk about Robert Felix's book "Not by Fire, but by Ice." Concept: Rapid climate change is (historically) more likely to tip into a new Ice Age.
Bye Bye Pension
This week, our subscription service Peoplenomics.com looks at the latest entry on the endangered species list: Companies that have solid pension plans. This week, we'll discuss what you can do about retirement planning in an era of looted pension funds. Subscription Information ($30/year).
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Friday January 20, 2006
France: Further Thoughts
A couple of well placed sources have advised me that the US is escalating military security measures today on the report about France. Some sources tell us that the French threat to nuke terrorist states is not directed at the general Muslim world, but may have been directed at the U.S. That would explained the heightened military posture by the US today. Here's an interesting background open source link to read up on. This certainly would tie in with the US moving ships and marines out over the past few weeks that we reported on earlier.
The escalations apparently triggered (in part) by the OBL tape from yesterday. Gold is saying "Something's up" too. So could it be that the US is the terror state that France refers to obliquely in today's headlines? And, if so, what [secret] pacts might France have with China and Russia over Iran?
My expectation is that this may be the leading edge of what may become public between now and the end of day March. At that time, the future predict technology hints at a stand down period through August 31. We'll use that for stocking up on survival goods. Then the crap hits the fan.
France: We'll Nuke Terrorist States
If France is attacked by terrorists, the French have the option of using nuclear weapons of mass destruction on the country supporting them. So says French president Chirac today.
This one leaves me scratching my head: the recent rioting in France by largely immigrant and largely Muslim militants, is not something that seems like it would trace back to a single country. Rather, it seems to be a more general case of folks immigrating to France, discovering that they're at the bottom of the food chain there, and then organizing somewhat spontaneously in riots, no doubt with some outside orchestration. But from where?
Israel's secret hit team approach seems a lot more reasoned to us than France's threatening whole countries with city-sized puddles of molten glass. But, not being French, maybe I am missing something - I didn't go through riots last month.
Meantime, al-Jazeera has received an audio tape from Osama bin Laden which promises attacks on the US if his offer of a truce is not accepted. It won't be, says the US. And, yes, it is Osama's voice on the tape says the CIA.
Spelling or Branding?
I curiously noted yesterday while channel surfing the news, that Fox News spelled Osama "Usama." Naturally, this got me to wondering if this was Fox's branding department at work, or if the spelling "Usama" is correct. Answer: Depends where you look. A quick check of the web shows that the "Usama" spelling is used by folks like Fox News and the FBI while Google shows 368,000 references to "Usama." Hmmm...that could be a subtle "U.S.A. ma."
While Fox, the FBI, and plenty of others are spelling it "Usama" we note that they're outnumbered about 29 to 1. For the sake of consistency, we'll keep spelling it "Osama." Somewhere, in the back of my mind, I wonder if DHS and the FBI couldn't come to agreement at least on how to spell the terrorist's name the same. Would that be asking too much of inter-departmental cooperation?
Spell it as you will, it looks like the latest tape won't be enough to change the present DHS security level from Yellow.
Iraq Election Results Due
Seems like a long time to count votes, but Baghdad is all but sealed off this morning after four bomb blasts as election results are due soon. Looks like the Shiites will have 128 seats, 10-short of a majority. Italy says it is planning to pull its forces out of Iraq this year.
Google on Privacy
Google is under pressure from the federal government to turn over vast amounts of search data - as the government tries to defend the constitutionality of a child pornography law. While cracking down on child porn on the web is a fine thing in my view, I'd have to go along with the prestigious San Jose Mercury News editorial this morning that a) Google wasn't a party to the present lawsuit over child porn and b) the government's just "going fishing" on the taxpayer's dime.
Beef Ban Back?
Japan is considering reinstallation of a ban on US beef if tests confirm that material considered at risk for Mad Cow disease was included in a recent shipment from the US. Not to make you completely paranoid, but if the tests from Japan come in positive, we have to wonder about the quality of oversight provided by the USDA on this matter. As you are likely aware, the USDA doesn't inspect every cow - they rely on statistical sampling methodology. Fine, as long as you don't get the statistical outlier...
When Sprott Speaks
OK, it's Friday, and you may not be paying attention to the headlines like we do, but there's a new report out from Sprott Asset Management "Road To Ruin, Part Two" and it reads like the "log version" of the kind of outlook we hold to about here. The latest Sprott report anticipates a high probability of a recession this year, with the chance that it will morph into a depression, perhaps due in part to the continuing runaway trade deficit. Definitely a must read.
As an aside, I often talk to Cliff up at www.halfpasthuman.com (web bot run 605 is in the planning stages now) and he takes great pains to explain frequently that the ALTA runs don't try to go to the question of "Why?" because that would be looking for intent behind events. Instead of speculation into the "why" questions, they just look for the facts likely to emerge based on emotional impact.
In the same way, the Sprott report is good because it doesn't get into the dynamics of "Why" this or that is going on - it simply looks at what's measurably going on and then looks at brick walls at the end of trend.
Actions speak louder than words - and the Sprott report does a fine job, as I read it, of stacking up facts in a logically consistent manner to arrive at a conclusion that would be similar to my own, had I not read the ALTA reports warnings which include things like major war probable in September area.
Buy or Hold?
First, I'd like to thank the hundreds of people who wrote in responding to my question yesterday seeking public comment on Elaine and I considering the purchase of land adjacent to ours. For now, we're going to hold off. Putting aside the web bot runs (which imply we should be buying a 4 by 4 and making plans to abandon even the relative safety of the Texas homestead due to sudden global climate catastrophe), a letter from a real estate professional summed up my concerns:
Earlier this week, I spoke with a woman who works for another Florida outfit. She reports that from her office building window she can still see plenty of blue tarp roofs - and the recovery from the hurricanes has been less than complete. Hundreds of thousands in Florida have long ago said "good bye" to what had passed un-noticed as a kind of Golden Age in South Florida.
In the course of exploring financing options, we discovered that Hibernia bank would loan 65% of the land's appraised value while Bank of America would only go 50%. (Disclaimer: Your results may vary!) There may be others, but I'm losing interest in buying today as events coming in the February-April period and this walk stuff showing up in September make me want to be conservative and portable.
Ownership of property is a fine thing in a very stable society where the police come when called, the fire department will put out fires, and the medics can rescue you from most life-threatening conditions. However, as a society we haven't done much in the way of building "exit plans" for the possible time when such assumptions as public services might break down. Highways might be impassable (blockaded), fuel might be unavailable, food scarce, and governance at gunpoint.
Historically, an ounce of gold would buy five acres of land, or an acre with a house and a few animals. The price of the 16 acre parcel today would be something over 50-ounces of gold. That's a bit rich. With gold going up lately, about doubling in two years, in six years at present rates, the number of ounces of gold could be down to less than 10-ounces, in which case the transaction would be more reasonable.
I've been tromping around and discovered that the land that has the creek is fed by a spring which is on our existing property, so if push comes to shove, we have a modest source of water already. Not much, maybe 2 or 3-gallons per hour, but enough even in the drought to keep three or four of us going.
Thursday, Jan 19, 2006
This morning promises to be somewhat of a "normal" day, at least in the early going. Oh sure, there's a lot of stuff percolating in the background, but this morning with some of the brokerage firms turning in good earnings, we are looking for an UP open for the US market.
One of the reasons why the US will likely rally today is that the several days long panic in Japan has sort of settled out - for now - and their market posted a 355 point gain overnight. Come to study it, every other market in Asia and (at least while I'm writing) every market in Europe is up too.
Only a couple of things to note on this front: First is that the president of Iran is off to Syria to visit - no doubt their mutual defense discussions will be at the fore, with the US armstronging other countries to pressure Iran to give up on its enrichment plans. China's back talking about "restraint." A number of people have sent me Krassimir Petrov's article on the coming Iranian oil bourse. But little there we didn't already cover.
Troubles of Empire
On the other hand, it is interesting to note that things are seeming to get out of hand in Africa - especially in the Ivory Coast where UN troops have fired on rioters, and in Nigeria, where several oil companies are withdrawing personnel because of deteriorating conditions. Four oil workers are being held hostage by militants there. The world's interest is not humanitarian - this is all about oil at some level.
Dr. Stephen Rinehart sent me an interesting email yesterday, with his latest outlook for what's ahead. I don't normally post such long pieces, but his analysis is interesting, charts and all...
Driven to Drink
It was after receiving Rinehart's email that I got the following from my deflationist friend Jas Jain this morning, offering a "friendly wager" on the course of inflation/deflation:
Here, it becomes definitional: I know Jas is a fellow of substance - and for him a bottle of fine wine could easily be a bottle of Chateau Laffite. For me, a bottle of fine wine is more likely Cribari Vino Bianco (4-liter bottle, thanks). Still, if we can agree to a $20 cap, then yes, I will take Jas up on his offer.
The Land Bet
Even more important than Jas's wager in our personal life is that a piece of property adjoining mine is coming up for sale. The owner wants a good price for it, but may settle for less. All of my friends (Cliff, Igor, Jas, The Simple Country Attorney, and the Gold Trader) are suggesting a lot of caution. "Keep your powder dry" is their admonition. On the other side of the equation, though, the property in question, an unimproved 16-acres parcel with a small year round creek (yes, even in the drought) would not be likely to come up again for several years as property in rural areas doesn't turn over often. If Elaine and I buy the land, I can get good terms, low payments, and there is some harvestable timber on it, which might offset up to 1/3rd of the purchase price..
More important, to my way of thinking, the acquisition would give us a hunk of land approximately 30-acres square measuring about 1,200 feet on a side. That, my friend is lebensraum!. I can here Jas and others screaming right now: "Deflation is coming! Wait!" I, on the other hand, know that prices around here have gone from $1,500 and acres to over $2,000-$2,500 an acre in just 2-years. So I'm thinking $31-32,000 would be a good price.
Now to turn tables on you: I'm soliciting comments on this possible land purchase. It would not eat up all of our cash, we would use bank money and would not cash in our precious metals, and the taxes would be moderate as the land could be maintained as a "tree farm." Click here to send along your comments.
I know, a fool and his gold are soon parted, but we wouldn't unload gold to do this one. We have no other debt - and the small $250 a month cost would give us at least a small tax write off because it would be part of our "home."
One oil geologist I know points out 43% of first time home buyers last year put no money down. That's a scary thought.
Wednesday Jan 18, 2006
Welcome to "Hell Day"?
I won't gloat and yell "Dammit, I told you so!" (or, maybe I will) but here's the overnight picture:
On our watch list today: How well the US Tech Sector will do (we expect poorly, but it will be an issue of magnitude) and the Global Hell Day is likely to visit Germany where a second real estate fund has barred the door to investors exiting.
The German situation is, I think, far more significant to the investment mood than is the LiveDoor report in Japan. Why? Because if there's one thing that scares the daylights out of investors, it is the notion of being "locked in" to a declining investment. Should the inherent lack of liquidity in many paper funds become evident to a large enough group of Baby Boomers who are watching their retirement nest eggs closely, then you would have the potential for a worldwide economic meltdown.
To our way of looking at charts, this would simply be the resumption of the declines that began when the tech bubble burst in 2000. The market at a very macro level has been in a huge "B" wave bounce since March of 2003. It seems likely that the C wave Down is beginning in here, and if so, it could portend a Dow falling to the 6,000 area, and that would effectively steal up to 40% of Baby Boomer's retirement nest eggs. Not that you couldn't have figured that out for yourself, of course.
Now, I won't say "told you so" BUT you will recall that the web bots had been talking about the financial meltdown to come in the January-March period. Well, although it's early to be certain, this is probably the start of that sequence of events the future predictive software has been alluding to. By the way, congratulations to both Cliff and Igor at www.halfpasthuman.com for getting this so right on. Their primary commercial client has to be just ecstatic because they were perfectly positioned for this thanks to the private data runs. Say, is this cool, or what? Now I know why I awoke this morning at 4;00 AM uneasy and unable to sleep.
Plot on Tony's Kid
Britain's Tony Blair isn't saying much, nor are police, but apparently a father's rights group's alleged plan to kidnap Tony Blair's youngest son has been foiled.
One Less Tension
We're glad to hear that India and Pakistan are working on a joint statement on the Kashmir issue. This is one border that's been a concern because both sides have nuclear weapons, and unlike the US-Soviet Union standoff during the Cold War, neither side has the luxury of much decision time should one side sense an attack. At least one border situation is cooling down.
Same Old Antics
We're amused to read how the GOP is promising to "dry up lobbyist gift giving". As we said yesterday, the fox will tell you anything sweet thing you want while offering to watch your hen house. My view? Anyone who took perks, gifts, or money in the Abramoff mess should be removed from CONgress and barred from holding office in the future. But then hey, I'm a real republican - not part of the pretender crowd. (I believe in civil liberties as set forth in the Constitution and Bill of Rights, States Rights, and small central government, balanced budgets, etc.. These are foreign concepts to the present gang of pretenders.)
Lott of Balls
I see that former senate republican leader Trent Lott is trying to run again. Perhaps he thinks voters have forgotten his comments about segregation in 2002. I doubt that Black voters in Mississippi have forgotten, though.
Here's where we raise an eyebrow at bureaucratic thinking: If you enter the US legally (that is, go through an official border entry point) the government is moving to require "passport cards" (a kind of passport Lite, if you will) in order to return. Now, besides making things tough on merchants along the Canadian border, such moves are ludicrous with more than 4,000 people a day just walking in from Mexico. Wall like Israel's anyone?
Although we are at Peak Oil, almost for a certainty, the proponents of Abiotic Oil (e.g. oil without breaking down vegetable matter) are getting a lift from a report about to be published saying that methane on one of Jupiter's moons is not biologic in origin. Interesting, but one thing we know for sure about abiotic oil: it's not being made fast enough to keep up with global demand.
Email of the Day
A reader sends along this interesting data point:
Say, speaking of outdoors and the like, at least in this part of Texas a lot of the woodsy types are outfitting their ATV's with "hush kits". The idea is that they want to be able to romp around the woods and not make a lot of noise. Look for ATV Stealth exhaust kits...
Tuesday Jan 17, 2006
Not to be an alarmist about such things, but we have one Reader who spends a lot of his time watching public information about the US military. Today, he notes the following:
Could Iran (or somewhere else) be about to "go hot?" We're watching for the last few days of the month into first week of Feb in part because of the movement of forces, partly because of the dark of the moon then, and because the web bots say something unexpected is coming around then... Now, place your bets: Is this a bluff? You saw our reports of air units moving to the Middle East we reported last week, right?
At the same time, stories are floating around the 'net today about how terrorists are likely to use WMD's in the near future.
If I were wildly speculating, the sequence would go something like this: Proliferation of a lot of terrorist/WMD stories this week, an "event of some kind" around the end of next week, a purported "smoking gun" that would point to Iran or Syria, and a strike during the dark of the moon. Just a possible sequence to watch for.
Industrial Production Figures
New from the Federal Reserve today - Industrial Production and Utilization which we see is up 2.8% Year on Year.
Follow The Money Tuesday
So, you want to understand international diplomacy, do you? Well, start by looking at the money issues. Both China and Russia are now pushing for a peaceful resolution of the "crisis" because both have made major investments in the country. Of course, on the other side of the equation, the US is more anxious than ever to move on this latest fortress of evil. Why? Because, as one observer notes, they dare to speak the Great Heresy: They wish to sell Oil for Euros not Dollars. Collision of economic proportions, no doubt about it.
Iran knows something is coming - and perhaps it will start with an "event" late this month or within the first week of February. What are they doing to prepare for self defense? For one thing, they're letting CNN back into the country...
Nigeria: The Money Issue
So, with the US trying to contain Iran from getting nukes, and keeping them from opening up an oil bourse, the other remaining oil in the world becomes progressively more important. That's why Venezuela is in the news, reporting back taxes owed for oil, and that's why we watch the situation in Nigeria, where locals are fighting for control of their natural resources so closely.
Afghanistan: The Money Issue
26 people dead in Afghanistan yesterday. That's a country which has some importance in terms of energy (think pipelines) and drugs (think heroin). Because of the attacks, the president of Afghanistan is urging the West to keep up the fight against "terror."
EU: The Money Issue
Over in the EU today, the European Parliament is set to turn down a ports bill which would encourage more competition. That has been the subject of demonstrations and walk-outs, so rather than really eat the bitter pill of "free" trade, the EU is going to wuss out rather than allow competition. Now, there's a lesson here: If working people do get together, they actually can influence government to protect worker's rights. But not in a crooked town like D.C. where the special interests "own" the government. Say, that gets us to...
Abramoff: The Money Issue
The Cleveland Plain Dealer - a finest newspaper well regarded by most - says the ongoing scandal should spur reforms in how members of CONgress behave. Fat chance, as I see it..
Here's the thing: Asking CONgress to reform itself is a lot like asking the fox to write the rules governing access to hen houses.
Until I see a press conference where someone other than Ron Paul has the balls to say "This Special Interest group just offered me xx to do something against the People's Interest" I'll put lobbying reform in the same class as the Easter Bunny and Leprechauns. Entertaining myths on a good day.
It's nice to see someone stand up and tell it like it is on the Spygate scandal. It's all quite simple to Al Gore: George Bush and his cronies broke the law by failing to follow procedures that were put in place to protect American's rights from pervasive government surveillance.
Democrat's chances of doing anything about it? Zero. As long as American's are fat, dumb, and happy living in debt, the guys in the White House will keep doing as they please. Show me a major stock market decline, an honestly reported unemployment rate, or increase cable bills - then you'd have public support. But for now, fat, dumb, and happy equals lazy.
That's why Justice is so sloooow for the Powers That Be.
Speaking of Slow Justice...
There's a new DVD coming out about the Enron case. I might have to break down and buy that one. Wanna place a side bet on a presidential pardon?
From Our News Tip Line
We have a news "tipster" feature (see Submit a News Tip near the top of the left menu) and once in a while we get a gem. Like this one:
Every once in a while a subscriber to our www.peoplenomics.com site will ask me to remind them of their password. It's their email address. Then they ask "Why the email address?" My answer is simple - but I thought I would pass it along:
We live in a cyber world where passwords are used all over the place. Seeing this some time ago, I decided to set my own passwords up at several "levels" The lowest level is the email address. This I figure is fine for things like my subscription service. The next layer is a little bit more secure, and as things get more important to me (PayPal account and banking) I have a reasonably complex randomly generated letter/number set that's quite long (10+).
If you ever sign up for a subscription, your logon will be your email address for the simple reason that I want nothing to do with your own "high security" password - thus I can never be accused of anything improper. That said, just as a suggestion, you might want to similarly compartmentalize passwords as I do - a small number of them, of increasing complexity - as their importance to sustaining your life increases. Just a thought.
Monday Jan 16, 2006
How Scarce will "Scarcity" Be?
Our outlook for 2006 is hardly what you'd call inspirational. The web bot project over at www.halfpasthuman.com has recently (and by this I mean the past several months) been talking about 2006 and our coming "encounter with scarcity." A lot of folks have been asking why the web bots are such raving bummers - they never report anything "good" - just a litany of bad/bummer/evil/ugly things, most of which they get uncomfortably right. Recent examples include this whole "secrets revealed" period we're in, the period of growing militancy, not to mention getting major aspects of the shuttle disaster, tsunami, and even 9/11 correct well in advance of actual events.
The reason that the bot critters are always so "negative" has to do with what they measure rather than any preconceived mission to pull bad news out of our collective future. By design, they capture future emotionally impacting events. What we think is going on is that the larger the emotional impact of an event, the more lead time we get. Thus, while "secrets revealed" was seen several months in advance, the pending "rejection by all" of the US dollar has been popping out for more than a year, thus the inference is that from an emotional standpoint, the dollar's rejection will be far more impactful that Spygate/Abramoff ratting out CONgress, and many of the letter predictions along the way.
That said, as we look forward over the coming months of this year, we are struck by several markets which make the hair on the back of my neck perk up because they are the leading edge indicators of what's likely to come. One email from this morning from a respect oil & gas geologist warns of food shortages to come - precisely the kind of "scarcity" inference that the web bots are drawing attention to:
No question about it, global weather has changed. Here in Texas, for example, winter wild fires are very rare, or at least they were until this year. A reader over in Austin says he..
We have a chance of rain this afternoon here south of Tyler, but nothing to write home about, for sure.
Gold is rallying again this morning for reasons that most pundits don't want to think about. "Oh, it's just a replay of that rally in January of 1980 which pushed gold to $800 and change" goes the conventional thinking. :"It will soon come down..."
I don't think so. My present thinking is that the U.S. dollar will be in a "heap 'o trouble" later this year because we might well be coming to a period when the U.S. consumer will stop buying disposable/depreciating junk and will begin having to refinance assets in order to eat.
The problem, at some level, is the competition for fuel. In places like Iowa, the question for farmers is whether to plant for food or plant for fuel as methanol demand grows. And, as we've pointed out previously, as energy costs have gone up, pressure is on farmers to hold down production costs by controlling fertilizer use.
Perhaps presciently, Time Magazine is asking whether natural gas supply constrictions (not to mention what's looking almost like a civil war in Nigeria and today we see fresh reports on oil infrastructure there, forcing Shell to shut down some operations) could bring about the "Next Energy Crisis." Their point is not lost.
The net result of this is that oil prices are firm driven by Nigeria concerns and the possibility that Israel (or its neocon proxy the U.S.) might actually do something in the very near future about Iran's uranium enrichment plans. Pakistani reports quoting London papers make such an attack sound imminent. A very good overview is available from Eric Margolis, who writes in the Toronto Sun this weekend that...
To be fair, war with Iran is not a foregone conclusion. There are plenty of reason for all the major players to try and win a peaceful solution.
Still, based on our best estimates, there are plenty of reasons to have a personal self sufficiency plan in place right now. Such a plan would provide for modest stockpiling of food, water, medicines. When we see things like toilet paper on sale, we're buying an extra package here and there.
All that remains is for an "event" to occur (or be staged) to stampede the "Coalition of the Willing" into attacking Iran on some anti nuclear pretext. We note that India, Israel and Pakistan, to name just three countries, have not signed the nuclear non-proliferation treaty.
We'll be watching for that "next event" because almost beyond a shadow of a doubt, the neocons will spin whatever happens into a pretext for striking Iran. Superficially the issue will be nuclear material. Economically, the issue is control of oil and corporate/IMF control. And the Power That Be know damn well that if you're hungry and sitting for hours in gas lines, you'll go along with anything offered as a solution.
All that's missing is an "event" - and one could wildly speculate that a "dirty bomb" attack on the US with a charge that the "materials were traced to Iran" would be just the kind of "event" to set folks to stampeding.
Roads Revolution In Texas
Speaking of globalism, mis-labeled "free trade" and such, keep an eye on what's going on with the Texas Toll Party - which likens itself to the Boston Tea Party. This is an organization which is part of a growing national opposition to two main items: Double Taxation of people to use roads and the FTAA-related "Trans Texas Corridor."
Their issue with toll roads is simple: People in Texas (and many other states) are taxed once to pay for roads (motor vehicle fuel and excise taxes) and then, because of the double-dipping if not watched closely tendencies of state governments, they are taxed again ("tolls") to use certain roads. Elitism for well-off drivers.
The Trans Texas Corridor all ties in to the FTAA plan to run huge foreign truck fleets in from Mexico bringing "cheaper goods" from Texas, Arizona, and New Mexico ports of entry all the way to Canada. The CANAMEX Corridor (which will run through Arizona) is part of the same transportation "master plan."
Now, the Texas Toll Party is not waging its battle against CANAMEX. Their focus is on the Texas plans for highway development. Still, we see it as part and parcel of the same thing. Although there's evidence that the world is at (near, or past) Peak Oil, the Highway Lobby is working like mad to get funding from the Feds and state government for huge highway projects. The Texas Toll Party points out what they call the Central Texas Looters who voted to toll roads that Texas Taxpayers have already paid for once.
Flush with Cash
China is rolling in the dough thanks to Box-Marts in America. At $818.8 billion, that's enough to buy a lot of American assets should they choose to.
Martin Luther King Day sees the stock, commodity, bond, and option markets are closed today. International gold markets are open (chart at the top of this page).
News from Elliott Wave International
I only put up one chart a week as my "freebie" site. There are several more weekly charts including our Global index, the Dow of today versus the Dow of the 1929-37 era, and how program trading is going. To get these charts plus the very serious minded weekly analysis piece, please look at subscribing to http://www.peoplenomics.com/subscribe.htm for the low $30/year cost.
Write when you get rich,
George Ure, The People's Economist
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