old fogey

Employment Data Show Workers Moving from Skilled to Unskilled Jobs

Just to clarify, top unemployment benefits equal $9.67/hr ($387/week) , which is greater than part time or minimum wage jobs provide.
One does not often take a cut in income by choice. Exhausted benefits result in actions of desperation.

Employment Data Show Workers Moving from Skilled to Unskilled Jobs

FAULTY LOGIC!

"The 68,000 jobs that were lost in manufacturing and construction were almost compensated for by the 58,000 jobs gained in the service sector. Essentially, skilled workers who were losing jobs in the manufacturing and construction sectors were taking unskilled jobs in the service sector."

In reality skilled workers are collecting Unemployment benefits at the maximum rate. The people running out of unemployment are taking anything they can get. For many, it is their last means of survival.

Is Gartman Right About Shorting the Dow and Gold?

Someone can not read, either Keith McCullough or me. Gartman said gold is in a long term uptrend, but very expensive as compared to grains; hence the statement "long grains, short gold". That is my recollection of "Garty". Keith is out of context or incomplete in his "short gold" comment. Maybe he should read Gartman every day?

Is Gold on a Deflationary Death Watch?

Hmmm, well first tight credit ... no loans, businesses fail, no work, prices drop on unnecessary goods, more business failure, pipelines of goods empty, farmers cannot borrow seed money, food becomes scarce, prices rise, more money directed at subsistence, more business failure, more pipelines empty, goods become scarce or non existent causing increase per demand. Inflation increases. Black markets appear also.

Gold at 200 buys 20k houses for 100oz ... today 100oz at 900 buys same house for 90k ... little change >>> the point is gold is a universal money, convert-able to any currency at a rate depending on strength (trust) of the conversion currency. This is why it takes less euros per Oz. than dollars per Oz.

More on the Fannie/Freddie Heist

Dollar death spiral will end the Federal Reserve banking system, causing pain to both rich and poor alike. Putting off the inevitable will just expand the tenacles of despair.

Credit and non payment therof consumes more than just the profits of a transaction; it usurps the underlieing capital.

The social welfare system will collapse as well.
People will have to work for sustenance ... COD will return to the market place .... the form of cash will change ... barter and black or underground are already beginning to flourish.
Free markets will always exist, even if they be called black.

The earth has not unlimited resources for an unlimited population.
Earth population may diminish, reducing the consumption of resources, a very bleak picture; the rebalancing act.