Monthly Archives: August, 2015

By Tom Chatham via Project Chesapeake

Preppers talk about the day when paper currency becomes worthless and how they plan to barter when things fall apart. But, what will most people do when the government check they depend on stops forever more. Over 50% of the people in America now get some kind of government check every month. That is a question that I think many people have not come to grips with yet. At some point, the checks will stop.

Social security and Medicare are running dry fast and it is only a matter of time before they stop paying out in whole or in part. If someone relies on these payments then they likely do not have sufficient money stored away to survive on in the event payments stop.

Not only that, the many other entitlement payments sent out monthly that are keeping the population clothed, fed and housed will stop at some point as well. When that happens we already know what the result will be, especially in the cities. It is inevitable but many people still trust the government line and do not worry about it.

There are those that realize the threat but have not taken any action to mitigate the problems that will result when the fateful day comes. Many hope it will be forestalled for their lifetimes and some hope if they ignore it, it simply will not happen. If government checks stop it will also mean the destruction of retirement plans and savings accounts and if you do not hold it you will not have it.

One of the most vulnerable groups are the babyboomers that are now retiring at the rate of 10,000 per day. If this growing group suddenly loses their monthly check along with most or all of their savings, it is going to put a lot of pressure on society as these people suddenly try to return to the job market to survive.

With the job market shrinking on a daily basis it is now imperative to develop a backup plan to generate some type of income when you can no longer rely on past promises to be honored. If you can store away some real money or valuable items to utilize later that is great but that will not last you forever.

Anyone that survives the coming currency crisis will be someone that planned ahead and had some way to generate income after everything falls apart. If you can generate income to live on, be it money, food, medicine or some other item you need, you will be able to care for yourself for the duration.

That is going to be a critical element in any long range plan you come up with. This means you will need to have the ability to produce something of value that society will need on a daily basis. The first things people seek out are food, shelter and clothing. Having some abilities in one or more of these areas will be the closest thing to guaranteed sales potential that you can get.

Once these needs have been met by society other things will become important such as energy, security, transportation and medicine. Having some abilities in one or more of these areas will insure income for a long time to come as society rebuilds itself.

If you have abilities in a primary need and a secondary need, you will be way ahead of the majority of the people seeking to survive the chaos that follows the loss of jobs and a functional currency.

This plan could be as simple as growing a small garden to have vegetables and seeds to sell. At the same time it would be little trouble to add a few medicinal plants to your plot. You might be able to offer shelter in the form of a spare room or a cottage in your back yard. You could combine this with transportation or security services. In a breakdown of services, energy would be heavily affected. If you had the ability to produce electricity for refrigeration or ice production or the ability to power a vehicle with a wood gas system, you would have a valuable commodity. The ability to make small wood stoves for people without power would give you a large market for this type of appliance.

It is important to think about all of the systems we rely on every day that people take for granted. This will give you a large list of potential goods or services that you may be able to provide after these things become difficult to get. A few dozen chickens producing eggs in your backyard could be the difference between getting by and suffering terribly.

It is also important to think about the support systems you will need to supply the raw materials to produce your goods or services. Chickens need feed. Wood gas producers need a supply of wood. Making wood stoves requires steel. Growing a garden requires not only the knowledge but seeds, tools and fertilizer.

It is important to keep in mind that retirement is a relatively new invention that came about in the 20th century. Until then, people worked until they literally dropped dead. When the current financial system breaks permanently, people will be forced to go back to work and keep doing so until the day they die. That is the reality many people will have to face in the near future. It is a reality that many have not considered and do not want to think about. You can ignore reality, but you cannot ignore the consequences of ignoring reality. When the government checks stop and your savings are gone, what will you do?

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The Complete Breakdown Of Every Hillary And Bill Clinton Speech, And Fee, Since 2013

So due to popular demand, we appended to the 2013 speech detail first released last week the full breakdown of Hillary’s and Bill’s 2014 and 2015 speeches which had been provided previously as part of her mandatory disclosure in May of this year.

As Politico cautions, the disclosure omits an unknown number of speeches that the Clintons delivered while directing the payment or honoraria to the Clinton Foundation, despite instructions on the and guidance from the U.S. Office of Government Ethics, saying that honoraria directed to a charity should be reported.

Still, as readers will note, even the “modest” data that Hillary chose to share is quite stunning.

We hope it will surprise nobody that the bulk of speeches were bought and paid for by Wall Street and affiliated “financial entities” because that’s what hollow populist pandering is all about – pretending to be an “everyday American” while getting paid tens of millions by Wall Street and America’s biggest corporations.

How many millions?

Since 2013 Bill Clinton has been paid $26.6 million for 94 speeches; Hillary’s grand total is slightly less: $21.7 million for 92 private appearances.

Below we present the full breakdown of every publicly disclosed speech event by Hillary Clinton, together with the associated fee.

And likewise for Bill Clinton:

And a visual way of showing the above data.

Hillary:

Bill:

Source: Hillaryclinton.con and Politco

Bonus footage: sometime in addition to hundreds of thousands of dollars for speeking for 50 minutes, Hillary would also get a shoe as an added bonus:

11 Red Flags As We Enter The Pivotal Month Of August 2015

Red Flags - Public Domain

Are you ready for what is coming in August?  All over America, economic, political and social tensions are building, and the next 30 days could turn out to be pivotal.  In July, we saw things start to turn.  As you will read about below, a major six year trendline for the S&P 500 was finally broken this month, Chinese stocks crashed, commodities crashed, and debt problems started erupting all over the planet.  I fully expect that this next month (August) will be a month of transition as we enter an extremely chaotic time in the fall and winter. 

Things are unfolding in textbook fashion for another major global financial crisis in the months ahead, and yet most people refuse to see what is happening.  In their blind optimism, they want to believe that things will somehow be different this time.  Well, the coming months will definitely reveal who was right and who was wrong.  The following are 11 red flag events that just happened as we enter the pivotal month of August 2015…

#1 Puerto Rico is going to default on a 58 million dollar debt payment that is due on Saturday.  Even though this has serious implications for the U.S. financial system, Barack Obama has said that there will be no bailout for “America’s Greece”.

#2 As James Bailey has pointed out, the most important trendline for the S&P 500 has finally been broken after holding up for six years.  This is a critical technical signal that will likely motivate a significant number of investors to sell off their holdings in the weeks ahead.

#3 The IMF is indicating that it will not take part in the new Greek debt deal.  As a result, the whole thing may completely fall apart

Leaked minutes of the fund’s latest board meeting, which took place on Wednesday, showed staff “cannot reach agreement at this stage” on whether to take part in the new €86bn (£60bn) bailout for Greece. The document said there were doubts over the capacity of the Athens Government to implement economic reforms, as well as the over the sustainability of the country’s sovereign debt pile, which is now projected to hit 200 percent of GDP.

 

The German Chancellor, Angela Merkel, only sanctioned a new Greek deal earlier this month on the condition that the IMF takes part.

#4 Italy is going down the exact same path as Greece, but Italy is going to be a much larger problem for Europe because it has a far, far larger economy.  This week, we learned that youth unemployment in Italy has reached a 38-year high of 44 percent, and Italy’s debt to GDP ratio has now hit 135 percent.

#5 The Canadian economy has officially entered a new recession.  This is something that was not supposed to happen.

#6 The price of oil plummeted close to 20 percent during the month of July.  It was the worst month for the price of oil that we have seen since October 2008, which just happened to be during the height of the last financial crisis.

#7 Commodities just had their worst month in almost four years.  As I have written about previously, we witnessed a collapse in commodity prices just before the stock market crash of 2008 too.

#8 Thanks to Barack Obama, the U.S. coal industry is imploding, and some of the largest coal producers in the entire country have just announced that they are declaring bankruptcy

On Thursday, Bloomberg reported that the biggest American producer of coking coal, Alpha Natural Resources, could file for bankruptcy as soon as Monday.

 

Competitor Walter Energy filed for bankruptcy earlier this month, and several others have done the same this year.

#9 For the month of July, the Shanghai Composite Index was down 13.4 percent.  Despite unprecedented government intervention to prop up the market, it was the worst month for Chinese stocks since October 2009.

#10 A major red flag that a recession in the United States is fast approaching is the fact that Exxon Mobile just announced their worst earnings for a single quarter since 2009.  Compared to the same time period one year ago, Exxon Mobile’s earnings were down 51 percent.

#11 Chevron is another oil giant that has seen earnings plunge.  In the second quarter of this year, Chevron’s earnings were down an eye-popping 90 percent from a year ago.

And in this list I didn’t even mention the economic chaos that is happening down in South America.  For full coverage of that, please see my previous article entitled “The South American Financial Crisis Of 2015“.

To a certain extent, I can understand why most Americans are not alarmed about the months ahead.  The relative stability of the past several years has lulled most of us into a false sense of security, and the mainstream media is assuring everyone that everything is going to be just fine and that brighter days are ahead.  At this point, many believe that it is patently absurd to suggest that we could see an economic collapse in 2015.  But of course even though the signs were glaringly apparent, very few of us anticipated the financial crisis of 2008 either.

A few weeks ago, I authored a piece entitled “The Last Days Of ‘Normal Life’ In America“, and I stand by every single word of that article.  I truly believe that the era of debt-fueled prosperity that we have been enjoying for so long is coming to an end, and our standard of living will never again get back to this level.

Just yesterday, I had the chance to go over and stock up on some emergency supplies at a dollar store.  It always astounds me what you can still buy for a dollar.  The combined cost of raw materials, manufacturing, packaging, shipping and retailing most of these items shouldn’t be less than a dollar, but thanks to having the reserve currency of the world we are still able to go to these big box stores and fill up our carts with lots and lots of extremely inexpensive merchandise.

Unfortunately, this massively inflated standard of living is going to come crashing to a halt.  This next financial crisis is going to destroy the system that is currently producing such comfortable lifestyles for the vast majority of us, and that will be an extremely painful experience.

So enjoy this summer for as long as it lasts.  Even though August threatens to be pivotal, it is going to be nothing compared to what will follow.

Fall and winter are coming.

Prepare while there is still time to do so.

Source: ZeroHedge.com

Submitted by Michael Snyder via The Economic Collapse blog,

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