May 13 2010 2:36PM
Good News: The Scramble Is On For Physical Gold.
“This 156-ounce (4.85 kg) gold nugget was found by an individual prospector in Southern California Desert using a metal detector.” -Wikopedia
Bad News: Unemployment Is Skyrocketing
Reports from the Labor Department today tried to polish-up terrible jobless reports with all kinds of numbers tricks and Pollyana talk. Most of the Sheeple and smarter media members and analysts are not buying it. We reported some new predictions this week and they are not pretty. The Ships Of State in the U.S. and in many other nations in Europe are floundering and rudderless. This is not going to end well at all. A fiscal firestorm with the attendant social problems looms. Buckle up your money belt and hunker down for an international systemic hurricane.
Those jobs numbers are totally false. US National unemployment is now 21% and getting worse faster. Jobs are the key to any recovery, which is in fact years away.
America’s residential housing national valuation average has -30% more to fall, which takes 3-5 more years. The worst fallen states have already hit bottom and are beginning to recover like Michigan and other Midwestern states. However, when a housing bottom is finally discovered bottom-feeders step-in to buy houses for next to nothing. Nevada is the worst and continues to crash. We got a report you can buy a brand new two bed, two bath Las Vegas condo for $7,000. There are now 55,000 new ones sitting vacant.
By this fall, 50,000,000 Americans will be on food stamps. With the heavy summer heat we get nasty social problems breaking-out in big cities world-wide with riots and fires. The USA-Mexican border probably goes into open warfare with American troops in later 2010.
Numerous states are ready to go bankrupt. Jobless millions have given-up and are not being properly counted by any measure. We forecast USA national unemployment to average the worst at 35-40% by the end of 2011 or, early 2012. Fictional news will report it’s maybe 12% at worst.
Families are doubling and tripling-up with sometimes only one working adult in a house containing three generations. Frustrations are rising along with tempers and social fallout.
This year, internationally, Europe tanks first in a cascade of failing insolvent nation-states including Greece, Spain, Portugal, Italy, and potentially Ireland and the U.K. Germany returns to the German Mark and dumps the failed Euro and their Euroland affiliations.
Within three years or less we see more intense American capital controls, higher taxes and a US Dollar devaluation. Chances of bank closures and bank runs are escalating. Over 700 US banks are on the watch list and most will crash and burn. Greater Depression II could go on for years. Later, the fallout causes World War III as historically, this is the final conclusion to major depressions and the ultimate way to escape from them.
The US Dollar and American standard of living shall be cut in half over the next few years.
Media jobs reports are a cruel joke. Natural disasters and similar emergencies cannot be managed by FEMA. They are disorganized and broke. Next, we enter the national tornado and hurricane seasons. We better pray we get through it as FEMA cannot that’s for sure.
Worst of all there is no leadership in Washington, D.C. If any is found whatsoever, it’s of the terribly destructive variety.
Now, more than ever, it is important to take the immediate necessary precautions to protect yourself and your families and friends.
Traders and investors should be buying precious metals and select shares right now. In our newsletter we have a great list of trading and investing ideas for you. Meanwhile, you can never go wrong buying physical precious metals and holding them for security. We’ve had a constant run of nearly ten years in gold rising 15% per year so this remains a good trade. In the last twelve months, gold rallied over 34% and is going ever faster.
It’s not going to stop any time soon. In fact, we predict those annual percentages will rise even more and this offers a chance, arriving only once in 25 years on the historical cycles. Good trading! -Traderrog
Editor Trader Tracks Newsletter
The Jay & Rog Blog at webeatthestreet.com
Roger Wiegand is Editor of Trader Tracks Newsletter for gold, silver and energy traders. Roger provides recommendations for short and longer term traditional stock shares, futures and commodities trading with specifics for individual trades. See webeatthestreet.com for more information
Contact Claudio Bassi, at Trader Tracks New York City publishing offices for an introductory 30-day trial subscription for
only US$49.00. This is half the monthly rate our subscribers pay. Call us at 718-457-1426 Monday through Friday, 9:00am to 4:30pm (EST). You can also e-mail Claudio at firstname.lastname@example.org for more information.