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Odds 'n Sods:
Matthew R. found a link to a
great video that has brief interviews with some cave dwellers in Idaho.
o o o
The newspaper headlines are sounding like something out of my novel. Randy
F. sent us this: Panic
engulfs global stock markets. And then Cheryl (our Economic Editor) sent
us this mountain of news and commentary: Investors
Expect Market Volatility As Global Credit Woes Persist -- Analysis:
More Banks To Fail Next Year Despite Bailout -- Euro
Crisis Deepens: Officials Vow To Save Banks -- Euro
Unity Collapses: Every Country For Itself -- $700
Billion Printing Of Bailout Monopoly Money: Hedge Your Wealth -- Credit
Chaos Next? The Mother Of All Bank Runs -- Fear
Grips Stock Markets As Economies Tip Into Recession -- Asia
Stocks, US Futures Drop As Europe Forced To Help Banks -- Yen
Unbeatable As Credit Seizure Kills Carry Trade -- Panicked
Global Markets Reel; Dow Slumps Below 10,000 ("There is all-out
panic," said
ING senior strategist Adrian van Tiggelen.") -- Veteran
Wall Street Adviser Gives Advice For Surviving Crisis -- Fed
Sees States, Companies As Next Crisis Points -- Hank
Paulson Has One Month Left To Get Banks Lending Again -- London
Plunges As Banks Pump Billions Into Markets -- Euro
And Pound Dive As Banks Falter -- Iceland
Sinking As Bank Rescues Evaporate (Trading in Icelandic Banks
Halted) -- Savers
Frozen Out As IceSave Website Collapses -- Asian,
Euro Markets Dive On Fears Crisis Is Spreading -- Prices
Of 16 Basic Food Items Rocket In 3Q -- Bolling:
Nowhere To Run (" ...now is not the time to take chances.) -- Tent
Cities Rising Up Across America -- 'Hoarding'
Is Out (The Mogambo Guru) -- Settlement
Day Approaches For Derivatives -- Overnight
Commercial Paper Rates Advance As Bailouts Spread Globally -- Fed
Doubles Cash Sales To $900bn, Plans More Steps To Unlock Market -- Deflation
Threats Mount As Commodities Tumble By Most In Half-Century -- Bush
Predicts Restoring Confidence Will 'Take A While' -- Bailout
Bill Will Do Nothing For The Real Economy -- Stock
Market Investing Safety Over 5yr and 10yr? ") Meanwhile,
in addition to the congressionally-funded TARP bailout, the
Fed is pumping liquidity like there is no tomorrow, promising $900
billion in
TAF lending: U.S.
urges global action on credit crisis. And even the perennial
bulls are sounding bearish: Jim
Cramer: Time to get out of the stock market. Cramer has also declared
this a
worldwide crash. Lastly, it is quite indicative that spot
gold jumped $35+ per ounce. That in itself is not too unusual, but this is
happened at the same time that other commodities were dropping, and while
the
US dollar
was
gaining
against
the
Euro
and British Pound. Here, we can see that gold truly is the island of
safety in
the economic
maelstrom.
o o o
As of October 1st, journalist Glenn
Beck reported brisk sales of guns and
home gun vaults in the US. Given the recent economic news, I wouldn't doubt
it. Speaking of Glenn Beck, reader F.A.J. said that we should take a look
at Beck's analysis of what caused the liquidity crisis, in a letter to
his family members: What
happened?
o o o
Frequent contributor Michael
Z. Williamson sent us the link to this newspaper
article from Atlanta, Georgia: Many
stories surround gas shortage. Human nature,
in action
o o o
Cheryl also sen us this one, on Monday evening: Germany
takes hot seat as Europe falls into the abyss It begins with this ominous tone: "We face extreme
danger. Unless there is immediate intervention on every front by all the major
powers
acting
in
concert,
we risk
a disintegration of global
finance within days. Nobody will be spared, unless they own gold bars."
