Double Dip Recession Announced for U.K. (How many of us are aware of that?)
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HI AL. Where would you like me to start . Lets start with the cause…THE BANKS. Yes they gambled billions of our money , & lost & we the people , have been forced to bail them out Why ? because our corrupt government has said so . So whats our payment for bailing them out. ZERO INTEREST RATES ON OUR SAVINGS (while the banks lend our money back to us at high interest rates ) AUSTERITY & INFLATION. Small business which is the backbone of any economy are going bust because they cant get loans to expand , & they are been bogged down by regulations imposed on them by the E.U. in Brussels. FUEL costs for business here in the UK are between 25% & 50% higher than they are in Europe….Petrol here is unleaded=£1:42 per litre…DIESEL = £1:48 per litre dearer than it is in europe…about 68% of the cost is tax. The country is a basket case & is only going to get worse as long as the government puts the interests of the Banks & Big business BEFORE THE WELFARE OF ITS PEOPLE
The Sheriff is getting closer!
A lot of folks are in your camp Frank.
I am not there yet.
Big Al
What do you mean resource/ Do you mean base metals, energy etc
What does it mean for PM/
Thank you Joe
Actually Big Al, it was mentioned on Bloomberg but around 07:30 this morning central time here in the U.S. Zerohedge boys posted it and ran with it.
It actually fits into a topic of discussion I had with a few other people who are entranced by the PIIGS events. I told them that the real problem is the debts of the so-called FIRST WORLD economies, like U.K. Japan, the U.S.
It’s going to get bad…real bad. But it should also be a huge profitable investment for those of us who believe in the PMs.
It might have been mentioned. As Jeff Deist mentioned, “It is really under the wire!”
That bit of news should have been front page headlines.
Big Al
I find it strange silver is down and the related stocks are up, Gold at par or even down the related stocks up
Thank you Joe
Joe,
To me, the market is pretty nonsensical right now!
Big Al
The PM stocks were oversold. That is why they bounced a bit. Or better yet, MAYBE this is the breakout we’ve been waiting for!!!!!!
Final Question I promise?
What do you people make of the US$ preformance?
Thank you Joe
Joe,
I think people will rush into the USD. With so many people calling for QE3 and yet the Feds are mute, investor mentality will focus on the “best of the worst”.
Especially with the official recognition of a “recession” in the Euro zone.
Thinking,
Lynn
Hi Lynn
I am sorry but did you look at what happened to the US$ today it tanked. that is what I meant with the bad news in other countries the US$ tanked.
What do you people make of it. This might be the sign
Joseph
The dollar is not going to rally much higher from here. It would DEVASTATE the stock market rally and destroy exports (what little there is). People should reflect on what Peter Grandich said awhile back and also what Jim Sinclair has to say about the US $. The problem is that the dollar is the MAIN CULPRIT in not just Operation Twist but with the Currency Swaps that take place. So, despite all the bad talk of the Euro Dollar getting ready to implode, the ECB is not the MAIN money printer here. It is the FED. They are helping to service Euro’s bailouts and derivative obligations all the while puppet Turbo Tax Timmy Geithner spews words contrary to the fact. It is all an illusion. The dollar could rally here, but look at what it has done over the last six months with all the negative news coming out. It still can’t stay above 80 on the index. Today it broke down out of its APEX triangle but I don’t think it closed there. It really is the WORST of all currencies because it is the most diluted and the most despised.
I have to agree, more & more countries are moving away from the dollar, they are getting out while the going is good.
ditto….irish
I think you are right on, Lynn.
Joe,
The best of the worst!
Big Al
Hi Al,
Did you understand my e-mail concerning who created the earth/
About the US$the action today is impressive. peter Schiff has been waiting for when people will flee the dollar. This might be the start. What was going on in the wolrd that made the dollar tank? Usually people go to the dollar for safety Right? But if the rest of the world is not safe and people finally realize the dollar is no safe haven Whats next? Is this not whatwe have all been waiting for?
Hi Joseph,
We are in a currency war, a race to the bottom. In the end all currencies will be destroyed, At that point the SDR will be created. For an in depth understanding read “Currency Wars” by Jim Rickards.
The thing is Karen we know that but the population does not. Mu point being is the PM equities might be a sign of things to come The population avoiding the dollar is another sign to look for. There is were you will see the explosiion in Gold we have all been waiting for. What is the sign to look for is the question. Today, this week we might have seen the beginning. Peter Schiff has been predicting this outcome and waiting for it.
Thank you Joe
Interesting forecast for the US economy going into recession by 2013, by Jim Rogers, Things will get worse before better. (cut and paste the link)
http://www.reuters.com/video/2012/04/24/jim-rogers-us-to-plunge-into-recession-i?videoId=233862224
Also anychance for a weekend update with Del re:PEM??
Hi Lougino,
Actually doing an update in about five minutes.
Big Al
I’ve been commenting for weeks that we are currently headed for a global slowdown—-we will not be able to “decouple”. The commodity markets have been warning us for weeks that we’re headed for a global slowdown and why I’ve been shorting oil materials, banks, our markets and the Chinese market.
Just wanted to say I agree with you richard, there is now talk of peace with Iran, after so many countires are saying to heck with the americans and british, switserland? the other day said Iran can use their banking system too.
Hi benb,
Starting to become really obvious who is not the prettiest baby in the nursery, isn’t it!
Big Al
Now Al……since you are the Sheriff, and running for re election, are you kissing
all the babies…..
A Double Dip is something you get at Dairy Queen, what they really need to say is “It’s The Greater Depression Stage 2” but by using sugar coating it now becomes “A Double Dip Recession.” How long will it take before the people realize that they’ve had enough.
Yeah! And Dairy Queen tastes better!
But think of the calories…!!
OH GOSH! I just bloated from the thought!
Bingo, Shawn….bingo!
Mark A, Marc, etc.
I have to get out of reality occasionally, so I am sticking with red wine!
Big Al
HI Shawn,
It will take until the media starts printing ALL THE NEWS!
Big Al
That would be when the cows come home, right?
Holsteins or Brahmas?
I didn’t know there were different kinds of cows!!! Are there?
PETER!!! YOU are definitely NOT a farm boy!
Thought I would chime in, been awhile. UK double dip? bolagna, still the same, just gets a little worst. PM shares up? Not that I see, they down, sure a little move up for now but they down big time, still possible to fall further yet. Mr Sinclair is saying “possible gap up in gold” Maybe, but some countries are spending gold now.
At this time (noon my time) PMs are down and could still go iether way, sure their going to move up, but everything will in time. We could still be looking for the 100x the 08 crash coming and PM stock and gold will take a hit initially. Hopefully all the banks dont close faster than we can get everything out of them if it does happen.
I think whoever it is that controls things still have that control and they know exactly what their doing. Just my opinion but I feel that physical is insurance and if you dont hold it you dont got it even if it is at goldmoney or with Mr. Sprott or the canadian mint. Bad guys want it they will take it. Just explaining to my sister last night once you have all the physical you can move you got enough, then maybe diamonds. I also think shares are ok but we cant forget its gambling no matter what the fundamentals or how much the company makes or how well managed they are. Still gambling, for new people I have to say I agree with Mr Moriarity, get everything you need, then physical PMs any currency left over gamble if you want and good luck, these markets are way beyond criminal now and no body is going to get charged,in fact the criminals are protected. Extremly dangerous times, as for a little supplies in the house, good idea, we work on a “just in time” principle and there very well could be disruptions. Medicines especially. Only 4 days? food in any city and 3 hours fuel? somthing like that, wise to have some at home. Anyway, thought I would rant.
Thanks Al/Rog for everything, I thought these changes you brought awhile back were going to be a good thing and its turned out better than I imagined. Good Luck everybody.
Hi benb
SLW is up over 50 cents and silver is down about 25cents
The gold equities are doing much better while gold was down
So what are you watching
Many thanks, Benb!
Big Al
I just took a gander at the kitco list, yes their up a hair, 50 cents for slw is almost meaningless. But everything is down,down ,down and today may not be a reversal of that trend. Thats all I was saying. Who knows? Maybe “the big explosion” up is around the corner. But bottoms dont need to be hit to make money and we are in dangerous times. just my opinion.
If you and I knew the future we would be very rich. My point is this is a rare event. Silver and Gold down and the equities in positive territory? Even when they were down substantially the equities did not move much? This could be the bottom and the shares could be in strong hands for good
entirly possible joeseph. But as for me, I will wait and see before I deploy significant sums. But of course my toes are in the water, they never left.
XAU is up 1.95% today.
Because Gold has become the only currency in a crisis and that is why China is using it to pay for Iranian Oil, when America defaults there will be an international financial derangement caused by the shifting of gold in huge quantities particularly to of course China. But many people including me believe that the cupboards at Fort Knox are bare. What will they cal that, “A Triple Dip with Sprinkles”.
I laugh when I hear the UK state anything relating to economics.
Those that have no credibility ,whatsoever,should not be given even the slightest regard.
Conversing with my friends in England the double dip has actually been one long,long economic dip.
Just like here in the good ol’ U.S.S. of A.!!! Hail Obama!
AL, I WAS TOLD ABOUT THE UK RECESSION YESTERDAY AT 8:00 AM! DID YOU SEE THE REPORT BY REUTERS ON MARCH DURABLES DOWN AND THE WORST IN 3 YEARS AND SHILLER’S HOUSING REPORT THAT HOUSING WILL NOT RECOVER AND WILL TAKE AT LEAST 10 YEARS. THE Obama AND THE bernake’s FINANCIAL STRATEGIES ARE TOO NEAR THE CLIFF AND CAN’T BE TURNED AROUND. AS A FATHER/GRANDFATHER, I AM TRYING TO PREPARE FOR THE ‘WORST DEPRESSION’ IN OUR HISTORY. WITH CHINAL TRADING GOLD FOR OIL, ETC. THE DOLLAR WILL BECOME JUST ANOTHER CURRENCY AND DROP SEVERLY IN VALUE….50-55, GOLD WILL BEGIN ESCALATING IN JULY, AND THOSE PREPARED WILL MANAGE THROUGH THE CHAOS. AM A ‘BORN AGAIN’ BELIEVER IN JESUS CHRIST AND ONLY SEEK TRUTH…NOT WHAT THE MEDIA WANTS ME TO BELIEVE AND THINK! THIS WONDERFUL AMERICA THAT I SERVED IN THE MIDDLE EAST (BEFORE THE HEAVY CONFLICTS) IS IN SERIOUS TROUBLE AND IT SEEMS THAT MOST ARE LIVING IN THE NORMALCY BIAS! NOT SURE WE WILL SURVIVE AS THE NATION WE ONCE WERE?
WYN
Hi Wyn,
God Bless
I would like to give you some ammo when you meet people that are believers in evolution and there million billion year theory.
Did you know the flood happend 4500 yrs ago and there where 8 people.,Today we have 7 billion. If you doubled the population starting with 8 every 100 yrs after 3000 yrs you pass 7 billion. Therefore you cannnot have more than 8 people on the earth 4500 yrs ago. Did you ever try this with 2 people on the earth lets says 10,000 yrs ago or 25,000 yrs forget 50,000
The more these people say the earth is old the more they discredit themselves. Try going bachwards with todays population. You will not get far. This is 6 grade math Jesus said prove all things. He did not say this if it was not possible
Thank you God bless Spread the Word Joe
Wyn,
You are one wise – gentleman! 🙂
Hi Wyn,
Today’s news contradicts the Shiller Housing Report. Kind of interesting isn’t it!
Big Al
There was a time that I shrugged at Shiller and took industry numbers to heart, but that has changed with their failure to acknowledge the hugh volume of people in mortgage bankruptcy, the inventory of existing new homes, etc. All they are teilling us is tha they have built another x% of new homes….have talked with one of Charlotte’s RE agency, and they concur with what I am saying. Values are down
and will continue going down. People are making less money (jobs) and fewer people are working, real inflation is going up and fear in creeping in! You are a
good forum, and we appreciate the industry info you give us.
wyn
Recession in the UK? Surely not!
Man, everytime I walk down a high street I see more shops shut down. Every other shop either seems top be a charity shop or a ‘£’ shop (i.e. a shop selling things for a pound). Another bad sign is that pawnbrokers are sprouting up everywhere ready to fleece the unsuspecting public.
It is such as shame as people are more interested in their soaps than what is going on. BREAD AND CIRCUSES!
I have started to grow my own food & take up some prepper tips from you guys over the pond. Things are about to get real ugly. Be prepared spiritually through Jesus Christ & then prepare materially.
Great advice Naomal!
Big Al
[…] weighs in on the recent news from BBC that the U.K. economy has receded into another recession. Listen to the Korelin Economics Report radio segment on the U.K. double dip recession. Share this […]
Uh Oh! Now this could get REALLY INTERESTING
http://daisyluther.blogspot.ca/2012/04/2nd-amendment-sneak-attack.html
RIGHT…..FORM AN ORDERLY LINE ALL YOU PEOPLE…….YOU ARE ABOUT TO BE MICRO CHIPED………..ANYBODY WHO REFUSES WILL BE SHOT ON THE SPOT……..”BELIEVE US” THIS IS FOR YOUR OWN BENEFIT…………THIS WILL PROTECT YOU FROM TERRORIST’S ……….THRUST US WE KNOW BEST ……SIGNED….YOUR CARING GOVERNMENT.
2000 BC:
REVELATION 13: 16-17
AND HE CAUSETH ALL BOTH SMALL AND GREAT , RICH AND POOR, FREE AND BOND TO RECEIVE A MARK IN HIS RIGHT HAND OR FOREHEAD AND THAT NO MAN MIGHT BUY OR SELL SAVE HETHAT HAS THE MARK.
AMEN LORD BLESS
HOW IS THAT FOR A PREDICTION
Gentlemen,
Believe it or not, about six years ago I spoke with a congressman (Certainly not Ron Paul) and he actually advocated chips to solve the illegal alien problem.
I could not believe my ears! This jerk was serious! Do you believe that?
Big Al
What a friggin idiot…why I am not surprised! Geezzzzz
For what it is worth:
I am fascinated by multi strata fossils aka Polystrate Fossils.
As the story goes an archaeology Prof. taught decades of students the ground they dug took hundreds of millions of years to form.
Then just before he retired the dig site discovered a vertical fossil of a tree which cut through a few million years of previously thought formation.
How could that be? Water on wood no good and all. Would the tree rot unprotected left to the atmospherics.
If you think about it….most fossils benefit from rapid burial.
Think of the classic image of the fossil of a fish….if scientific measurements are correct the width (compressed or not) in which the fossil of the fish exist supposedly took hundreds….thousands….tens of thousand of years to form. I would think a bird or other scavenger would have made a meal…or the fragile bones would be destroyed by wind or disturbed otherwise.
This is tough topic having a drink at the bar at a mining conference with an agnostic archeologist.
Note rapid layer formations around Mt. St. Helens.
Some trees were instantly uprooted…collected in a lake and sunk vertically in acidic water to start what may be a petrified forest for the future.
When you question something no one was there for…the obvious answers are often wrong.
I also reference the rapid formation of The Bad Lands due a Glacier dam breaking causing a rapid flood.
The truth may be that as with life there are long periods of stable uneventful healthy periods but eventually is interrupted…..sometimes very suddenly.
6 OZ GOLD CHALLENGE
Hi Dennis,
I cannot undrstand what you are saying nor your position
I am willing to give 6 oz of Gold to anyone that can show me with a logical, believable and likely possibility that the world was populated 25,000 yrs ago, with how many people were on the earth and how we reached 7 billion today. Demonstrate with 6 grade math how the population increased to reach your goal.
Show me your findings are more believeble and likely than my belief that 8 people were are the earth 4500 yrs ago(After the Flood) with the population doubling every 150 yrs. = 7 billion
ANY ONE WILLING TO TAKE THE CHALLENGE IS WELCOME.
THE VOTE WILL BE CONDUCTED BY THE MEMBERS ON THIS BLOG WHICH SENARIO IS MORE BELIEVABLE
SHARPEN YOUR PENCILS AND CAST YOUR VOTE
Thank you God Bless this challenge
Joe
Joe my point was that many things ‘science’ believes took extremely long times to form have been shown to form very rapidly. All of the suuden.
It is easy to take bias for an extremely old earth as you stand in a pit in a static desert with a putty knife and brush.
The assumption is that the stable conditions of the environment is a constant or near constant. The truth is that environments can experience prolonged periods of stable uneventful conditions to be violently interrupted by instant tranformative change.
A compelling Nova program a link to part 1:
Note The PBS editorial board made the production change some of the clear findings due to implications inconsistant with their philosphy before they allowed the program to aire. Very interesting program even as edited.
When you say all of a sudden(Abrupt appearance) do you mean created
Look Denns it is very simple math show me how many people where on the earth X number of years ago. Pick a number any number.
Stop skating around the issue. You people are good at skating and avoiding the math.
There are 6 oz of gold in it for anyone willing to show me the math
DO YOUR DUE DILIGENCE. SHOW ME THE SIX GRADE MATH. PERIOD.
STOP MAKING SIMPLE ISSUES COMPLICATED. STOP SKATING. STOP AVOIDING THE ISSUE. GET ON WITH IT.
Yo Joe,
I am not debating you.
I simply was making references.
Plus your simple equation is laden with assumptions and thus should be considered an exercise in futility.
My point to whomever without debating you is science is riddled with mistake.
Like my incorrect reference to badlands when I should of recalled scab lands.
The Flat Earth Society still has meetings it is called junk scientist trying to placate liberal faculty to obtain tenure and collectivist grants.
Take a chill pill Joe.
you people that believe in evolution and milions billions of years are all the same. You will put your entire eternity avoiding simple simple math instead putting your faith on things you cannot understand and all based on assumptions and complicating the issue.
Why do you not start with this simple math. Start with baby steps. But noooooo.
And you expect us believers to put our eternity upon your baseless arguements.
This is no issue to chil out about. People welll beng are at stake here and you misleading them God says this : To them is the Greater Damnation.
Who is the fool here?
Good luck when you see God in your state of mind You will need it but will be useless.
Joe if we were conversing I would say.
You are not a very good listener!
If anything all my references are combative to concept of Evolution.
I believe one has to look no furture than the glory of nature to understand it was designed and not the result of chance occurences and blobs creeping out of a primordial soup.
When the evolutionist explains the human conscience I will give some gold.
When the evolutionist without referencing The Bible explains how the first living organism came to be I will give him all my gold. There is one great explanation….”In the beginning God created……”
YOU KNOW DENNS I CANNOT UNDERSTAD WHAT YOU ARE SAYING
TRY THE MATH CHALLENGE HAVE SOME FUN SCRATCHING YOUR HEAD
AND HAVE SOMEONE ELSE WITH YOU SCRATCHING HIS AS WELL
YOU WILL BE STUNDED.
GOD DID NOT MAKE THINGS COMPLICATED
NOR DID JESUS SAY PROVE ALL THINGS IF IT WAS NOT POSSIBLE
LORD BLESS JOE
Dens M…..greaat ending…….
UK’s Ron Paul tells us what the real deal on the British Isle is.
http://www.youtube.com/watch?v=FOEbJ4DW0bU
Thanks for the link Dennis M,
By the way, how about coming back on the show?
Big Al
It is in reality a nice and helpful piece of information. I am satisfied that you just shared this useful info with us. Please stay us up to date like this. Thank you for sharing.
Anybody else notice the head and shoulders top on the TSXV? It could real bad for resource related stocks in the near future. REAL BAD!
http://philosophyofnonintervention.blogspot.ca/2012/04/tsxv.html