shambles — noun
1. a place of great disorder
2. a place where animals are brought to be slaughtered
3. any place of slaughter or carnage
Perusing the headlines today you’d think that the entire world economic, financial and political systems were at risk.
Oh, wait, they are.
- Consumer Confidence Hits Two and a Half Year Low
Consumer confidence unexpectedly dropped to its lowest level in two-and-a-half years in October as consumers fretted about job and income prospects.The Conference Board, an industry group, said its index of consumer attitudes fell to 39.8 from a upwardly revised 46.4 the month before. It was the lowest level since March 2009. Economists had expected the index to rise to 46.0, according to a Reuters poll. September was originally reported as 45.4.
[Editor’s note: They didn’t see it coming. Again. These are the same people who are telling us we’ve been in recovery for 18 months.]
- Home Prices Fall More Than Forecast
Home prices in 20 U.S. cities dropped more than forecast in August, highlighting one of the obstacles facing the economic recovery in its third year. The S&P/Case-Shiller index of property values in 20 cities fell 3.8 percent from August 2010, the group said today in New York. The median forecast of 30 economists surveyed by Bloomberg News was for a 3.5 percent decline.
[Editor’s Note: Another surprise. How…..surprising.]
- Home prices rise for 5th straight month
Home prices continued a winning streak in August, the fifth straight month of price gains, but remain lower on a year-over-year basis.
[Editor’s Note: We’re not sure what to think anymore. All the spin has us dizzy.]
- European EconFin Council Meeting Cancelled
Officials tell Brussels Blog the so-called ‘Ecofin’ council meeting is now likely off, and in a letter to Jean-Claude Juncker, the Luxembourg prime minister who chairs the group of 17 eurozone finance ministers, Rostowski makes it appear the cancellation is due to a failure to agree on outstanding issues.
[Via: The Daily Crux]
[Editor’s Note: Wasn’t there supposed to be a solution to Europe’s debt crisis two years ago? For today, it looks like we’re at yet another impasse. Tomorrow we should have it all figured out though.]
- Banks Clash With Lawmakers on Greek Rescue
Banks are pushing back against European leaders on the size of losses they are ready to accept on Greek bonds as officials struggle to rescue the debt-laden country while avoiding a default.
[Editor’s note: Greece? So the austerity and the previous bailout deals and billions in capital infusions didn’t work? And now, God forbid, the banks will have to take losses of 60% on their investments? Don’t worry, there is certainly a plan in the works, or at least, there’s a plan to get together about putting together a plan.]
- U.S. Taking $1T From China While Aiding Country, Too?
China is one of the biggest economies in the world and grew at more than 9 percent over the last year. It also has loaned more than $1 trillion to the U.S. to fund its deficit-spending.But at the same time, the U.S. sends foreign aid to China, which lawmakers of all stripes say is just plain nuts.
[Via: Fox News]
[Editor’s note: It’s a bizarro world, but nuts is the new normal. Wait, did they just say we borrowed $1 trillion? Pocket change for the HOTUS (Helicopter of the United States) piloted by Ben Bernanke.]
- France says EU Summit Failure Could Tip the European Continent into Unknown Territory
“We are living in crucial times. If the summit is a failure, this could tip the European continent into unknown territory,” the sources from the ruling UMP party quoted the prime minister as saying during the meeting. His remarks came as Europe’s leaders scrambled Tuesday to convince banks to take massive losses on Greece’s debt, and shield Italy from falling victim to the crisis, on the eve of a decisive summit.
[Via: MSN ]
[Editor’s note: Fear mongers….”crucial times” …”unknown territory”…”massive losses”…. these doomers will never quit. LOL.]
- U.S. Stocks Fall on Data
Stocks extended losses after consumer confidence unexpectedly slumped in October to the lowest level since March 2009, when the U.S. economy was in a recession, as Americans’ outlooks for employment and incomes soured. Separate data showed that home prices in 20 U.S. cities dropped more than forecast in August, highlighting one of the obstacles facing the economic recovery in its third year….U.S. stocks fell, halting a three- day rally, as United Parcel Service Inc. (UPS) and 3M Co. (MMM) slumped after reporting results…
[Editor’s Note: UPS, 3M, Netlflix, et. al. have issues with earnings… Europe is in trouble…consumer confidence dropped… home prices are falling year over year… and stocks are dropping why? This doesn’t make sense… None at all.]
- Gold Rallies to Daily High On Fresh Safe-Haven Demand
Comex gold futures have rallied to their daily highs on fresh safe-haven buying interest following news that a Euro zone finance ministers meeting scheduled for Wednesday has been canceled. However, reports said the general EU summit meeting for Wednesday is still on.
[Editor’s Note: Why would people be buying gold if it isn’t backed by anything?!?!?!]
We have this funny feeling that something’s not right.
Maybe it’s the 24 hours news cycle. But, even that just proves that the system is in such disorder right now that no one really knows what is happening or what we can expect.
Uncertainty, confusion, volatility, disorder and incompetence pervade the economic, financial, political and social systems of the world. This has been the case since 2008 with nothing but platitudes and conjecture jerry-rigging it together.
When in doubt about the future, assume the worst possible outcome. You won’t be disappointed.
But Hope for the best!
Hope is the weakest word in the dictionary. It means that you are placing your fate in the hands of someone/something else out of your control to give an outcome that is favorable to you.
But I agree, hope for the best….. 🙂
I agree with the Wall st. crowd when they say “hope is not a strategy”.
Hope is where failure hides.
Yes, and prepare for the worst.
Imagine how difficult it is to plan for the future if you own a business right now. It’s next to impossible. No wonder no one is hiring. I know I wouldn’t right now.
The collapse is coming soon. The violence is all but here – thanks to the protesters.
Most of the sheeple are still asleep. Too bad. Life will be bad for them and they will make life infinitely more difficult for us.
Been in the accounting business, i see all i learned being meaningless.
There is no short-term or long-term planning anymore.
In the company i work for, we plan day to day.
We have some expenses budget weekly, monthly, and annualy, but no revenues budget is viable.
You go to sleep, and the next day new taxes, new legislation, and new bank spreads, screw your business plan.
There are times i wish i was a sheep. No worries, playstation, pizza, beers, and greek idol. 🙂
Ignorance is bliss…or can be at times. We, too, experience prepper fatigue. We try to find ways to distract ourselves (no greek idol) for small bits of time just to catch a breath. More and more, however, we don’t feel like we have the luxury of micro breaks.
MLG; look upon your prepping as an exercise routine. Only apply a certain amount of time to it,like a work out. (Don’t try to run the marathon over night.)
Realize you can only do so much. Hopefully this will help you not to get prepper fatigue, it works for my wife and I. Then just like working out, we need to enjoy it. My wife and I are learning new things every day.
You said it Mr. B. I have no way to plan right now, just hang on day to day and see where things go. One problem is my cost of doing business hasn’t changed for the better. Electricity, gas, water, insurance etc. have all gone up but my customer base has dropped for lack of jobs and money. My daily average EBT sales have tripled in the past year. What does that tell everyone?
The collapse has been coming soon for about the last 50 years.
Banks are ripping people off if we don’t stay on top of things. Interest rates so low on savings and CD’s retirees have to go into stocks like utilities and others that pay good dividends to get extra income also, spend less in general. Some say: no store gifts for holidays, but will bake cakes and cookies or other do it yourself stuff. We are in a systems structural failure; not just another recession. A meltdown caused by derivities and other toxic entities!!
Banks are ripping people off? Yeah well, I’d like to see a worldwide “occupy my credit card” protest. Where everyone just said no to VIsa and MasterCard payments. I’ve now paid more interest and fees than what I actually owe. I hope they choke on their caviar on toast in the morning.
Somebody somewhere is going to get a real haircut.
Do you have anyone we know in mind? 🙂
Be safe. Be healthy. We gonna need it.
Yup. They’re not even thinking about saving the system anymore. Just about saving themselves, (i.e. making sure the other guy is the one who gets the haircut.) Utter collapse of Europe is a virtual certainty. If the CDS bomb is triggered, it will collapse everything.
Anybody read this ?
And who else knows the story of the Frenchman who wa sso distressed at the situation in 1938 Europe that he decided to bug out? He packed up and moved everything to the most remote and un-heard-of place he could find, on the other side of the planet from France. Guadalcanal.
It’s also a sham.
In my area, homes were selling for about $300,000 before the bubble popped. Now, the ones that can be sold are selling for $130,000 to $200,000. Many people are staying in homes that are under water. Next year will be worse. And the year after that will be even more worse. The Community Re-investment Act had a lot to do with this. Learn about that monster. If it ate your finances, you should know about it.
OF, We are underwater with our home at this time. We are lucky to still to be able to make the payments each month, for now. What upsets me is that if I were a zombie and took our mortgage from Freddie or Frannie, I could refinance under these new rules of Obama’s new plan. Since we have had decent credit and got our loan through the local bank, it seems again we get screwed, while the zombies who should have never had loans, now get to keep the homes they still won’t be able to afford in the long run. Oh well, my house is my home and not an investment, if more people thought like that instead of keeping up with the Jones, they’d be better off. Take care fuzzy and keep getting ready! Clay
In the same boat.
It was more than the Community Re-investment Act. It was also Barney corrupt Frank and Chris fraud Dodd ensuring that the 1992 law known as Federal Housing Enterprises Financial Safety and Soundness Act did NOT require Fannie Mae and Freddie Mac to increase capital reserves. Like wise they, and others in congress, worked to make certain the OFHEO (Office Federal Housing Enterprises Overseer) was so weak that it had to come to congress each year with hat in hand for annual funding.
Guys like James Johnson and Franklin Raines that ran Fannie Mae instituted accounting procedures that would’ve made ENRON blush.
The guilty need to be held accountable. It is OUR job to ensure that that happens and those that were trying to protect the taxpayer are protected.
“Care for some oppossum?”
NO worries would be nice! But until the SHTF…There will always be time for pizza, beer, and playstation!!!!
Luke 21:25 And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity; the sea and the waves roaring….
My favorite for inspiration…Luke 21:15 “I’ll give you the words and wisdom that will reduce all your accusers to stammers and stutters”.
I’m looking forward to that.
Shambles…..would be a good word….if we did not all see it coming. TEOTWAWKI may in fact be the true description once we look back on this period of time.
From where I sit…all we can do is double down on being as prepared as we can. If we are wrong, we will not need to grocery shopping for a reeeeealy long time ! If we are right…..God protect us all. I am to the point that while running around Houston working every day….that I am deciding “do I spend a buck on a cold soda…..or save that $$ to buy some more long term food?” While some fols believe that we will slide in a multi year slow collapse…….I believe that when it happens it will be swift. One day things are normal (not fine…but what we are enduring now…) & the next things break down. Bank machines don’t work. The stores empty of food, ammo , & other survival items. Marshal law is called…..but that will not work long when the law decides that they need to be with their families….& not out enforcing the Gubberment crack down. How long power….or any other service is supplied will depend on if the folks that run / own these operations believe that they will be paid for their services with some form of value. ( Not worthless green paper !) I believe that the house of cards is falling. I pray that I am wrong.
Montgomery County Texas
If nothing happens (fat chance), we all look silly. Better to look silly than to BE silly.
Ahh, “unexpectedly” the favorite word in 2009, now nice to see you again…
Who among us knows what old meaning of the word shambles was? It WILL be an apt metaphor, if there ever was one.
Does anyone here think when the OWSers close all of their bank accts this weekend with Chase and BOA that it will effect the ability to withdraw cash? Just curious…
Finally Mac. I’ve been ranting about the Head Lies for almost 18 months. The head lines are running the markets up and down and the masses don’t even realize its the same head line. Hell some are even using the same pictures as a year ago. Sure is taking a long time to build that house.
Fundamentally nothing has changed for the better in the US, EU or Asia. Fact is the debt has gotten worse globally.
The world is broke, but like a drug addict the world wants more debt.
All of us should just sit back, buckle up, print some more money, read the head lines and act like nothing is wrong. Oh shit we are doing that!!
Welcome to the 21St. Century, Manipulation and Propaganda in real time.
The coming collapse wont be over night…..everybody is seeing right now……its slow and painful….i think they can drag this out another 2 years.
What ever is going to happen is going to happen before next July 2012. Obama is sunk and he knows it and the others around him know it too. I believe this is the plan all along. They are so close to what they want, they can’t give up now no matter what. Obama needs to have a cataclysmic event to occur to possibly polarize the populous behind him.
But his reelection is not the focal point, the as he said “a fundamental transformation” is the end game. Where that is going to end up is anybodies guess “BUT” if we get to that point I’ll bet a buck to a doughnut it won’t be in our favor.
I am amazed at the ongoing treachery that we are witnessing right before our eyes and what do we do? We stand here like sheeple doing nothing. Just as they expected…
Hammerun;That’s not true, we aren’t standing here doing nothing. We are prepping, sharing info, getting involved(this site, as an example.) and expressing opinions.
Remember: I can do all things thru Christ who strengthens me.
so Bush and Cheney have ZERO blame in the US’s credit and money problems? A wasteful $2trillion war in Iraq and tax cutsnthatnresulted in another several trillion to the national debt during their time had ZERO affect where were at now?
Naw…Obama hasn’t been perfect but even here the republicans have plenty of blame. Their mantra is ‘say no’ to anything Obama wants.
Folks have seen that game…republican voters who want freedom for themselves but big government when it comes to abortion and gay marriage feel their candidates are lousy.
Obama will be reelected but the damage has been done…by BOTH sides.
I call BS. You won’t find many people who think Bush was perfect, but at least we had full employment and a stable economy during his term right up to the point that the Democrats took over Congress in 2006. Less than 5% unemployment is considered full employment because there are always people in between jobs and a few working the system. We had full employment and the media repeated the Democrats’ lie that the economy was in bad shape.
Barney Frank and company blocked reining in Fannie and Freddie and said they were doing fine and home prices would go up forever. Then the Democrat Congress did everything in their power to tank the economy on purpose to make Bush look bad.
Then the media chose McCain for Republican nominee, so that when the primary came to my state, I didn’t have a choice. When a Republican is in the White House, every little bad thing is blamed on the President, not the Congress which actually caused everything.
Now, with a Democrat in the White House, they are trying to lay the blame on Republicans for blocking things in the Senate, even though there is a Democrat majority which could pass anything it wants.
If the war in Iraq was so unnecessary, why didn’t Obama pull the troops out on his first day on the job? Why didn’t he close Gitmo? Why is he just now pulling troops from Iraq just as election season is warming up? Why was he in favor of ousting a friendly not-so-good regime in Egypt in order to get a worse regime in power? Why has he done the same thing in Libya? And why was it bad for Bush to take out Saddam, when Saddam was demonstrably worse than all the other bad leaders combined? And why are they stirring up Syria now? Who’s next on Obama’s hit list, and why can’t we know how he chooses victims, U.S. citizens or foreigners?
He’s the worst president in history, even worse than Carter. He’s even going through old Carter speeches for material.
Of course we say no to everything “Obama wants” because he hasn’t come up with a single good idea yet, and most of what he “wants” is bad for the country. You show me a single Christian who could “accidentally” refer to “my Muslim faith.” Dan Quayle spelled potatoes incorrectly and was branded as stupid for that one mistake. Bush mispronounced “nucular.” But Obama makes stupid errors day after day and the media never says a thing. Obama pronounces “corpsman” as “corpseman.” Obama said he had campaigned in 57 states and had one more to go. He can’t even talk 5 minutes to school children without his teleprompter. He told Letterman that he bowled like he was in the Special Olympics. He has apologized for America all over the world. He has bowed down to foreign leaders, which the President of the United States has never done in the past. He has told the world that if attacked, we won’t be the first to use nuclear weapons.
Also, I don’t want big government involved in birth or abortion, or in marriage. Marriage is a religious institution, and everyone wants separation of church and state. If your half-assed church is going to allow queers to get married, okay. But my church is not and should not be forced to by the government. If two queers want to sign a partnership agreement to share rent or buy insurance together, etc., then that’s okay. But don’t call it marriage. Government has no business in marriage, gay or straight.
I know Obama loves abortion. When he was a senator in Illinois, he twice voted against a bill that would have saved babies accidentally born when the mother wanted them aborted. Doctors now take those poor babies and toss them on a metal table and let them die of exposure. That is the height of evil for a President of the United States to be in favor of killing babies by letting them die of exposure rather than allowing them to be adopted by loving parents.
Lastly, I don’t think there’s a chance in hell that he is going to be re-elected. Polls have shown that anyone in the country with an R after their name can beat him soundly. I just hope the media lets us have a conservative candidate this time. They purposely lie and smear any conservative they think has a chance to win. You wouldn’t believe how many stupid young people think that Sarah Palin said that she could see Russia from her house. She never said that. Tina Fey said it on SNL. Sarah said, correctly, that you can see Russia from Alaska.
There is so much stupid in your post that I don’t have time to cover it all, so I’ll stop for now. In the meantime, please get better informed. Turn off the TV and start reading the actual documents and studying the complete texts of speeches. Think about what all those words actually mean. Look at Obama’s promises and see what he has actually done. And look at how much worse off the country is since he took office. If he was any good, at least something would be better now, but nothing is.
Mac, there’s good q&a article on before its news about what this bosnian went thru living in city wtshtf.
I agree. I could use a couple more employees. Am I going to hire? NO WAY! Businesses get penalized for hiring.
i’ve tried to point the whole “head lies” fact to people, and they just look at me like my hairs on fire. normalicy bias is crazy around my parts.
louisville, KY, anybody close? help eachother?
peace love unity respect.
Not close–southern Ky here.
Wish we were closer.
Owensboro, KY here.
My personal favorite type of economic headline is when the source or whatever takes a single stat for the day (e.g., the action in the stock market) and makes a “connection” between it and some other, random bit of news…
“Shares of Amazon Tumble in After Hours, as Tiger Takes the Lead at the PGA Championship”
What I find funny is that every single bit of economic news is either more or less than expected. The predictions are never on target. The experts never, ever get anything at all right, yet we’re supposed to listen to them.
And I also find it ridiculous how the market moves are supposedly caused by this or that in the news. I think sometimes it’s just a rich person wakes up in the morning mad at someone and decides to screw with the market by buying or selling a lot of shares for no other reason.
I suggest EVERYONE buy some PURE .9999 SILVER WIRE and learn how to make coloidial silver water at home! you can even make it off grid with a solar panel, 9 volt rechargeable battery, from a car battery, or off of phone lines… it’ll save your life… i use daily shots and keeps me very healthy disease free. i make my own.
Exciting Times… Great Article Mac, Thanks!
if society does collapse the one-million plus gang bangers living the good life here in the USA are going to have a feast on the unprepared.
The million-plus gangbangers won’t last long, they’ll swing and sun-dry from the lampposts in short order.
yah well, until they get to my house. I’ve got a lot of BBQ sauce waiting for them
1 onion (or more)
2 tablespoons cooking oil
2 tablespoons vinegar
2 tablespoons brown sugar
1/4 cup lemon juice
1 cup ketchup
3 tablespoons Worcestershire sauce
1/2 teaspoon mustard
1 cup water
salt and pepper
Brown onion in oil. Add rest of ingredients and simmer 30 minutes to thicken. Pour over partially cooked meat and bake in oven.
Speaking of gangs- read the unabridged FBI report on gangs in the US- dowright scary- and they have been practicing their entire lives while we have been working, paying taxes, raising families, etc. Need lots of guns and ammo, food and water and physical silver and gold and miscellaneous tools and supplies. Bosnia and Argentina articles have been fantastic and real eye openers– hats off to Mac for an outstanding site that no doubt will save the lives of many of the good guys (and gals). We do need more info on how to get antibiotics ahead of SHTF.
Go to doomandbloom.com. they had a great article on antibiotics. just buy aquarium antibiotics, its the same stuff humans use and you don’t need a prescription. another animal antibiotic that works well is duramycin (tetracycline hydrochloride soluble powder, also agramycin, teramycin). this one I’ve used myself. tastes nasty, can only drink in cold coffe. works well.
This is the consequence of following the idiotic rescue plans of former British prime minister Gordon Brown. He just loaded the tax payer with the fail and pushed the disaster down the road so he could make a get away.
People need to prepare because the politicians will dither and fudge until the whole system goes into cardiac arrest: only this time there will be no ‘crash team’ to jolt the economy back to life.
Get ready for most cities to end up like Detroit with just a handful prospering.