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July Economic Rant -Roger Mason

Tired of $4 gas, headed to $5? Have you gone to www.americansolutions.com and signed the Drill Here, Drill Now petition? It only takes about 60 seconds to do this, and is idiot proof. Send them some money if you want. They now have over 1.2 million signatures. Meanwhile the Chinese are drilling for oil 50 miles off our shore in the Florida and Louisiana areas. The liberals won’t let us have that oil, but the Chinese can have all they want. Obama has promised higher fuel prices and no American oil or refineries!!!

Mc Cain is your next president because he is the NeoCon ideal. He is already planning 58 military bases in Iraq when there should be none at all. We have troops in 147 countries plus 10 territories. We should have none at all. He has inoperable jaw cancer, a horrendous medical history, countless cancer operations, and may not live thru his presidency, or be able to function adequately. He cooperated and collaborated with the enemy during the war, and is anything but a “war hero”. He made over 30 propaganda films for the Viet Cong to get better treatment. Like Kerry, all this will come out. His ideal is a One Hundred Year War, and to start more wars everywhere he can. He will involve Iran, Russia ,and China just to name a few. We will not, and can not, win any war including Iraq and Afghanistan. 12% of our soldier in Iraq are doped up on anti-depressants, and 17% of those in Afghanistan. The military suicide rate is at record highs. McCain’s dopehead wife was addicted to opiates, and was caught  stealing drugs from her own bleeding heart non-profit medical organization. She bought her way out of a jail sentence. She had a serious stroke in 2004, which left her mentally impaired. She looks like an escapee from a Freddy Kruger horror movie. That’s your first lady folks- a mentally defective drug addict. Meanwhile the U.S. Communist Party newspaper People’s Weekly World fully supports Obama as president. They call him “a new beacon of socialism.” Obama’s mother was a committed Marxist.

General Electric is the biggest conglomerate in the world, and their stock has fallen a full 33% in the last eight months. One third in eight months. We told you the stock market couldn’t hold 13,000, and it’s way under 12,000 and falling.

Let’s look at just a few of the facts proving our situation is hopeless…

• The housing crash is just getting warmed up.

• The homebuilders are all broke.

• There is one quadrillion (one thousand trillion) in derivatives ($1,000,000,000,000) coming unraveled. This is TWENTY times the GDP of the entire planet.

• The banks are crashing, and the Banking Index (BKX) is down 90%. This is worse than the 1929 Crash, and is only just beginning. Marc Faber on CNBC said over 150 banks will collapse in the next year. He’s right. It may be much worse.

• The National Debt is not even comprehensible.

• The U.S. Dollar was $1.45 in the international basket, is now 74, and headed for 50.

• Unemployment at 14% is almost triple the official figures. Many have taken any job just to get a paycheck. Unemployment will go over 30% in the near future.

• Social Insecurity, Medicaid, and Medicare were broke many years ago.

• True inflation is about 18% based on configured M3 money printing, which the government is too ashamed to publish anymore.

• The budget deficit is as incomprehensible as the National Debt.

• The trade deficit simply cannot go on.

• Consumer confidence is at an all time low as the lemmings wake up.

• The Big Three auto builders are hopelessly bankrupt.

• Gross Domestic Product and consumer spending are in the pits.

• We have 200 years of oil and 200 years of natural gas right here in the U.S., yet we won’t drill it and or build refineries to use it. We have no refinery capacity and couldn’t refine the oil if we pumped it.

• We have 1,000 years of coal, but the government won’t allow one SASOL plant to convert this to $2 a gallon clear auto and truck fuel. We should have SASOL plants in every state according to population.

• Corn is headed to $8 a bushel, people are starving all over the world, and next year even more of our corn crop will be wasted on ethanol. Ethanol doesn’t work!

• Fannie Mae and Freddie Mac are both broke and down 90%. Your tax money down the toilet while the government gave mortgages to people who didn’t deserve them.

• The bond market is about to collapse.

• The Fed can’t raise interest rates, lower rates, or leave them the same. No matter what they do (or don’t do) it will end up as a disaster.

• Paulson wants the Fed to take over the investment markets as the communists do. 
  

Go to www.perotcharts.com and look at some excellent and factual charts. Yes, this is Old Ross Perot, but he is not promoting himself or running for office. These charts are very clear, and there is no political agenda here believe it or not. Visit this website and you’ll see factual and valuable information that affects you and your life. Did you know that, adjusted for inflation, the Dow is only up 25% in the last 34 years? You would make less than 1% profit (and then be taxed!) by investing in the stock market. Did you know the June collapse in the Dow is the worst since 1930? The worst in almost 80 years. The coming depression looms closer every day folks. Don’t be in denial about it.

The coming attack on Iran is the most important event you should be concerned about. Israel has publicly stated an attack on Iran is “unavoidable”. The Jerusalem Post just published an article on this. Katie Couric proudly announced we will attack Iran any day. John Bolton (former U.S. Ambassador to the U.N.) confirmed the story. Of course American troops will fight the war for them. If you think Iraq was the worst mistake the U.S. ever made, wait until we attack Iran. Both Russia and China have promised they will not allow us to attack Iran without totally serious consequences. We cannot handle either one of these countries much less both. Iran will, understandably, retaliate by vaporizing a major American city like Washington or New York. Two lousy buildings completely demoralized the American public. Think what an entire city disappearing will do. It is just a matter of time before this happens, and every day events prove we are closer and closer. The media doesn’t cover this as you can imagine. Congress has already passed two resolutions against Iran that put us much closer to an attack. We will rue the day we did this folks more than you can realize. Iran has one quarter of our population, a million trained and determined troops, and lots and lots of first rate weapons. India, Pakistan, and Israel have thousands of nuclear weapons and Iran merely has nuclear energy. Congress passed two resolutions against Iran pushing us closer and closer to nuclear holocaust.

The retailers are completely falling apart, and it is only just beginning. Stores going under, going bankrupt, and closing outlets include Ann Taylor, Eddie Bauer, Hollywood Video, Lane Bryant, Fashion Bug, Talbots, Gap, Foot Locker, Old Navy, Banana Repub-lic, Wilkes Furniture, Levitz, Zales, Piercing Pagoda, Disney Stores, Comp USA, Macys, Starbucks, Sprint Nextel, Pep Boys, Movie Gallery, Home Depot, J.C. Penney, Lowe’s, Office Depot, Office Max, Ethan Allen, Rite Aid, Ruby Tuesday (down 80%!), Tiffany’s, Sephora, Coach, Burberry, Nordstrom, Williams Sonoma, The Gap, Abercrombie & Fitch, J. Crew, American Eagle, Saks, Wilson’s Leather, Pac Sun, Sharper Image, Bombay Company, Goody’s, KB Toys, and Dillards. The shoping malls are going under. The strip malls are full of empty stores. This is just the beginning folks, just the start of the Much Greater Depression in 2010.

The housing crash is still just warming up with a lot to go. There is a one year backlog of unsold homes, yet the builders do their best to build more unsalable homes every month. The Case Shiller Index says American homes have lost 16% of their value in the last year. (It’s been much worse the last six months.) That means your house would be worthless in six years at that rate! California homes fell 30% in the last year! Meanwhile Congress is busy passing a socialist $300 billion bailout package for stupid deadbeats who bought homes they couldn’t afford with money they didn’t have. YOU WILL PAY FOR THEIR STUPIDITY. $300 billion is a drop in the bucket anyway, and is really just going to help the BANKS that lent the morons the money. There were no credit checks, and your family dog or your children could have taken out a home loan. The average America household is $10,000 in credit card debt alone, in addition to mortgages, car loans, and their other debts. People can’t pay their electric bill, much less pay off their debts- and the extortionate interest keeps rising and rising.

Please go back to the very first Economic Rant on September 8, 2007. The stock market was 13,000, and we said it would collapse to 10,000 in real dollars. Silver was $12, and is now over $17. Gold was only $630, and is now $930. The dollar has collapsed. Inflation has raged. The housing collapse has just gotten worse every month. Inflation and unemployment have raged. The Iran war is closer than ever. Everything we talked about has come true- 100% of everything we talked about happened. Not 99%, but 100%. You can see tomorrow if you just pay close attention to the events of today. It’s not a matter of being psychic, or smart, or economically astute; just pay attention and you can see tomorrow. We still don’t know when the U.S. will attack Iran and make the worst mistake we’ve ever made in over 200 years, but it’s just a matter of time.

Some of you have bought silver mining stocks and have slight losses. You’re wondering when you’ll see these spectacular profits of 1,000% and more. Very soon. You always invest in quality for the long term. All great rich men have done this. Invest in quality and be patient over the long term. All your friends are watching their entire life savings disappear in the stock market, their homes, their IRA’s and 401k’s, their savings accounts, CD’s and other investments. If you cannot transfer your IRA/401k into American silver stocks then dump it and take the tax bite. You have no choice here. If you don’t, you deserve everything you get, and you deserve it good and hard. You’ll be standing in the soup line with your asleep-at-the-wheel lemming friends. Anyone who is not fully invested in silver (or even gold) is going to be impoverished in a few years. You don’t have a choice. There is nothing else to invest in. You can’t invest in platinum, oil, or uranium as they are already expensive. There is nothing else to invest in but silver (and gold). The U.S. Constitution says the only real money is silver and gold, nothing else. All the world currencies are worthless paper including the Swiss franc. Buy Quaterra (QTA), Silverstone (SST), ECU Silver (ECU), First Majestic (FR), Endeavor (EXK), Impact (IPT), Genco (GGC), and U.S. Silver (USA). All are Canadian exchanges except EXK. None have mines in central or South America, Russia, or China. None are hedged, and none are explorers. There are only about fifty (50) actual silver mines on earth, but only about nine worth investing in. Your author has gone over every one of these mines in detail. The gold to silver ratio was 60 to 1, is now down to 53 to 1, and is headed towards 18 to 1 ($200 silver and $3,600 gold for example). The Dow to gold ratio was almost 50 50 to 1 and may soon actually go to 1 to 1. Seriously, we could have $5,000 gold and a 5,000 DJI. Silver is going to $25 by Christmas. There is no silver to buy, yet it is still under $18. This is due to extreme and very temporary manipulation.

NOTE: Fury Explorations (FUR) will merge with the gold and tungsten mine Golden Predator. Please sell your Fury stock and put the money into Quaterra or another good mine. This now leaves eight stocks. Sell Fury if you own it.

Be sure to go to www.kitco.com at least once a week and read the articles. Roger Weigand, Mogambo Guru, Alex Wallenwein, and Jim Willie are especially good. Go to www.gold-eagle.com to read their articles. Go to www.butlerresearch.com twice a month to read Ted Butler on silver. Another good site is www.depression2.tv.  Another is
www.safehaven.com which has good articles. All these are free.

The rest of 2008 will be terrible and 2009 will be unimaginally terrible. Put every penny you have into silver stocks since you can only buy small amounts of silver bullion at high premiums. There is no physical silver available and the price is about to take off.

Look for $25 silver by Christmas.