Hi-yo silver! Typically, the precious metals are in their summer doldrums in July and August. but not this year. This coming Autumn could get very interesting, depending on financial developments on the periphery of Europe. All eyes are presently on Greece, but Italy, Spain, Portugal, Ireland, and Iceland will probably soon be in the headlines again. I wouldn't be surprised if silver gets above $55 per ounce. Its a good thing that most SurvivalBlog readers have been buying on the dips.
Reggie Middleton warns, over at Zero Hedge: Eighteen Percent of the EU is Literally Junk, Carried as Risk Free Assets at Par Using 30x+ Leverage: Bank Collapse is Inevitable!!!
Speaking of silver, don't miss this commentary from James Turk: Huge Base Will Propel Silver to Record Highs With Gold.
And here is some commentary from Chris Duane: 11 Silver Investor Mentality Shifts
Moody's Considers Downgrading U.S. Credit Rating Amid Stalemate Over Debt Limit
John Galtfla: Total Euro Chaos Tonight
The Lumberman pointed us to this at Zero Hedge: What An American Bank Run Would Look Like
The ever-cheery Ambrose Evans-Pritchard reports: Italy and Spain must pray for a miracle--Once again Europe's debt crisis has metastasized, and once again the financial authorities face systemic contagion unless they take immediate and dramatic.
Tom in Buffalo flagged this: 20% Drop in Housing to Cause Recession in 2012, Says Gary Shilling. Here is a quote: "Housing prices will fall another 20% and underwater mortgages will balloon from 23% to 40%."
Pierre M. kindly sent this: Analyst: Even Dollar Stores Struggling in ‘Obama Depression’
Central Falls, Rhode Island, struggles to step back from financial abyss.
Items from The Economatrix:
Gerald Celente: Arab Spring + European Summer = Winter Of Discontent
Rampant Unemployment = The Death Of The Middle Class - 40 Facts That Prove The Working Class Is Being Systematically Wiped Out
Could Silver One Day Be Worth More Than Gold?
Killer Combo of High Gas, Food Prices are Here
Greece Set to Default on Massive Debt Burden