Roubini Sees 50% Chance of Recession in U.S., Eurozone, U.K.

There is a 50 percent chance of a recession in the U.S., the U.K. and eurozone economies in the next 12 months, said Nouriel Roubini, co-founder and chairman of Roubini Global Economics LLC. Europe’s “financial engineering” is insufficient to end its sovereign-debt crisis, Roubini said in a speech in Jakarta today. Contagion from the debt crisis has spread to some French and Belgian banks, he said.
“Unfortunately, in my view there is a risk, at least a 50 percent probability, that in the U.S., in the eurozone, in the United Kingdom, and in most advanced economies, the future in the next 12 months might suggest a recession

The Big Wall Street Banks Are Already Trying To Buy The 2012 Election

We are never going to restore legitimacy to our political system until we get the money out of politics.  Typically, in federal elections the candidate that raises the most money wins about 90 percent of the time.  In 2008, Barack Obama raised almost twice as much money as John McCain did.  3 of the top 7 donors to Obama's campaign were big Wall Street banks (Goldman Sachs, JPMorgan Chase and Citigroup).  Now Wall Street is doing it again.  The big Wall Street banks are already trying to buy the 2012 election.  So who do they want to win in 2012?  Based on contribution patterns so far, the overwhelming favorite of the Wall Street banks to win in 2012 is ...[continue to full article]



[From EndofTheAmericanDream.com

Predictions of an economic apocalypse are now main stream

Predictions of an economic apocalypse are no longer restricted to the realm of fringe doom and gloomers lurking in the dark corners of the internet. As we’ve previously suggested uncertainty now pervades the social consciousness, not just in America, but the world over. Every major media outlet in developed nations is now reporting on the headwinds facing the so-called recovery. The problems and threats confronting the stability of the globe can no longer be dismissed as theoretical arguments, because they are now being actualized – in real time.
Continue to article

Cost of food during a crisis

The year has been ripe with riots and revolutions throughout the globe. A handful of Arab countries, after generations of living in fear and dictatorship, have finally risen up and cannot take anymore. Some were fortunate and have earned their new independence, some are still struggling and some are being obliterated. These people have been under the rule of despots for generations, yet now, like some global collective moment of having enough of the crap they all rise up one after the other-all sharing the same sentiments of anger at their leaders.

 

I have always encountered literature saying that they reached their turning points when they no longer could afford food for their families. Think about it : they endured decades of abuse, corruption, theft and injustice under the same rulers, but nobody revolted. What set them off - finally- was when they could no longer feed their sons and daughters, their families. Human beings will go to great lengths, will do anything, to provide for their loved ones. It is just human nature. Your mind opens up to so many possibilities you are willing to do just to fill the need for your family when you see them so helplessly starving.

 

I tried to look up how much the price increase was when things turned for the worse and how they are now. On an article dated Oct 2010, it said that a 100 gram loaf of bread costs $.02 in Libya. And this was after a government imposed increase. The prices before then was much lower. A more recent update post-revolution says that now a 500 gram white loaf costs $2.25 (that would be $0.45 for every 100 lbs). So if you imagine, the cost from 2 cents going up to 45 cents...How do you adjust to that? You would drown in worry knowing that no matter how hard you worked you still could not catch up with that price. And this is from a very quick search on prices in Libya alone, all this with just inflation brought on by a crisis. I worry that the rest of the picture would be even more bleak.

 

Here is a link about an article with someone in Libya saying rice costs $40 for 10 lbs. inside Tripoli. This is during the revolution.
http://www.huffingtonpost.com/2011/02/28/libya-protests-food-price_n_829026.html

 

There are some numbers floating around from the NIA that assume the would be costs of some basic staples in an inflationary situation. Just to visualize the drastic change the new prices would cause, let me list them for you:

• Coffee 11 oz - $77
• Milk 32 oz - $24
• Bread 24 oz - $23
• Juice 64 oz - $45
• Sugar 32 oz $62

At prices like these, there is now way we can eat anywhere near our current provisions. I cannot forecast what my salary would be like at the time, but they always lag behind the price increase anyway-what's the point.  Our monthly groceries would be up to almost $2000. Consider what happens to other costs, like rent and fuel, utilities...

 

When the time comes that prices surge and people can no longer afford food, you can bet on it people will be out on the streets. It does not matter what standard of living one is used to, if he finally realizes he has been manipulated, cheated and ultimately now cannot have the most basic of needs, they will lose it. I have been contemplating on allocating more of our cash to acquire some more food to up our food pantry. Perhaps allow for some comfort food, stuff my wife would love and keep our spirits up.

On second thought, with the current outlook of things, maybe I should go for longevity. The way things are, it will take years for them to improve.

RSOE Emergency and Disaster Information Service

I just wanted to share a great link that helps you see emergency situations around the world.  I save this on my bookmarks. One thing I used to do was have a bookmark specific to emergency situations. Instead of running around gathering intel during the crisis, all I do is right click the folder and have all the links opened on my browser. A quick tool to help me in flux, where being organized is important.

http://hisz.rsoe.hu/alertmap/index2.php

Big media controlling perceptions on the presidential race

You may be rooting for Ron Paul or not, but here is a funny way to look at how the big media corporations are manipulating the presidential race.

The Daily Bell - Jon Stewart Bashes the Media Over Ron Paul

I would suggest reading up on what the candidates stand for, what their positions and beliefs are...and avoid getting the information from your big news media sources. They are censored and manipulated.

Recent chatter about the bigger economic collapse

There are a lot of reasons to be posting now, but there are lots more reasons to be prepping instead. I am seeing more and more open-ness from the government an media about a worse economic collapse. Remember how they avoided using the word recession during our fight to get out of it? Now we are hearing depression, and a reuse of the phrase double-dip recession. It is on more mainstream sources as well. I feel they are softening us up so that we have some inkling to what they have been putting off for quite some time now-all this considering how they phased the key words out before, and now conditioning our minds that they are,in fact, possible realities.

Gerald Celente on Yahoo! Finance news

NYC Mayor Bloomberg predicts riots if no new jobs come

Previously news like these were always ignored or ridiculed. Now it seems the general public is aware , is ready to admit that these are real scenarios which we may see in our lifetime.

It is still not too late, we still have time to prep. At the very least people can still buy food and learn some skills. For regular people like me, from the middle class, there is not much we can do to prepare financially. If I were rich I would have some concerns on my money but I would have an idea on how to keep them safe. Since I am NOT rich that is not one of my problems right now. Having the money would be a great advantage and a great tool to prep though. If you have not considered it yet, we are looking at a greater problem than a recession. We are looking at a massive depression-one only possible with the huge debt we have and due to the global reach of the US dollar.