Plight of the U.S. Economy
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In this show Al discusses:
- Segment 1 – Greg Manerino opens the show with Al discussing the question, “Does any politician have an answer to our economic mess”
- Segment 2 – Al and Greg Manarino continue their discussion.
- Segment 3 – Al and Albert Matter, Chairman of Nu Legacy Gold, discuss gold, real estate and mining in Nevada.
- Segment 4 – Pete Hegseth, of Concerned Veterans for America, offers some thought on the current U.S. foreign policy.
- Segment 5 – Al and Peter Grandich discuss their ideas about the future of the conventional markets in the U.S.
- Segment 6 – Al and Ray Navis offer some thoughts on the U.S. real estate market.
- Segment 7 – Here is a company that we haven’t talked about for quite some time. Canasil Resources has some very interesting news coming out.
- Segment 8 – Al and Adrian Day discuss the plight of the U.S. economy.
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
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Marc…I could not agree more, I would love to write a long missive, on what i think has gone wrong with America over the last 60 or so years , & how America has arrived at the mess it is in today. Problem is i am a one fingered typist & it would take me too long…….Maybe i will write it down & get someone to type it for me.
It’s the impetus behind the War of Terror…
Couldn’t agree more with everyone above. But what is a war?
Let’s see: War on Crime. War on Drugs. War on Poverty. War on this. War on that.
Why all the wars–because during wartime our government grants itself special powers over the people, not so much by virtue of our Constitution (which requires they “declare them” by due process of law), but by ‘virtue’ of the corporate media that stampedes the swarming hoards of dimwits into following them into war under a false flag.
Pretty accurate assessment, BJ
Big Al
Hi Al,
I watch CNN for shyts and giggles…I come here for the truth…keep it up my friend.
Posts like this brehitgn up my day. Thanks for taking the time.
Next time you say “I’ll have fries with that.” Do you have to worry about counterfeits?
When you reach for the Ketchup or Catsup are you being robbed?
Most in this forum understand the fraud of counterfeiting currency….could there be profits to be had in counterfeit Ketchup?
Apparently so…..a link that makes you think follows….read and make sure to play the video at the bottom.
Counterfeit Olive Oil…Saffron….Honey. What is the world coming to?
And just think Ketchup is a counterfeit of a Chinese fish sauce “ke-tsiap”.
So when your fries are coated in counterfeit Ketchup then you are eating a counterfeit of a counterfeit. And to top that off…… you paid for it with counterfeit.
http://shine.yahoo.com/shine-food/ketchup-real-thing-might-not-182900085.html
Benny and the rest of the Amerikan gummit is setting a fine example.
Every major institution in this country is corrupt.
So I guess it was only a matter of time before we even see counterfeit ketchup.
Ken,
Is nothing sacred?
I afraid my bible may be a bootleg.
What if my Cool Whip is really an imitation of the imitation whipped cream?
What if my Preparation H Ointment has been debased?
What if my Cialis is not real when I go see Alice?
What is the world coming to? Pun intended!!!!!!!!!!!!!!!!!
Say it ain’t so!
But the only thing that matters it that we are listening to the REAL Al Korelin!
Not artificial Als here. 🙂
Thanks for the vote of confidence, Ken!
Big Al
Too funny Dennis M 🙂
My deal with Myrtle is that SHE supplies the Cialis; that way she makes sure it’s real and up to date.
(i’m going to regret posting this and no, I haven’t cracked the Vodka mudshake … yet.)
http://www.youtube.com/watch?v=3Q-pmKiFZTw
Irwin!!!!!!!!!!!!!!
Do not drink excesively when taking Myrtle’s Cialis.
And call your doctor if you cannot put your overalls on for 4 hours!
Cordially,
Dennis
Ron Paul, Jeff Deist and I certainly agree with you, Ken!
Big Al
This economy is doomed.
And Obammie Care will prove to be a disaster. Here’s just one of the unintended side effects of it:
http://globaleconomicanalysis.blogspot.com/2012/10/mish-obamacare-mailbag-expect-more-part.html
And who was the inventor of Obammie Care? Yup, you got it, the Romulan.
When your choice is the inventor of Obammie Care or the implementor of Obammie Care that is no choice at all.
Hmmm…that guy worked for Bear Stearns you say? Are you sure he didn’t meand stern bears?
So why did the Amerikan gummit intervene in Libya in the first place?
Or more accurately, just intervened more than it already was intervening.
The stench of new world odor is all over that.
Al, the Amerikan gummit is the biggest terrorist in the world.
Morning Ken,
There are definitely those who feel that way!
Big Al
Respond to Libya? We never should have been there in the first place.
KEN……AGREED……….Perhaps i should left out the , A.!
It was no surpise to me the embassy got burned down and the ambassador got killed.
Those kinds of things happen when a foreign government from half way around the world tries to overthrow a government and drops bombs on people.
Not that I think Ghaddafi was a good guy. He was a dictator thug, no doubt about it. But remember a few short years ago the Amerikan gummit was saying good things about the thug.
Love these, so much fun, it amazes me to see three pargotrhpheos at the same shoot and all with different looks and thoughts and angles and i love all of them. So much fun, we need to do it again
When so called ‘international justice’ is delivered without a rhyme or reason there is usually a motive to discover what was behind the intervention.
Certainly there were other targets more deserving of destroying if alleged atrocities were what compelled action. Why then did the despot with the well-endowed female security force take on assault under a white flag? Were there no other more dire crimes against humanity who deserved to be dealt this blow? The below link says it all.
An easy attractive target needed to be culled.
Look for a motive Ken. Click below
http://wallstreetpit.com/67945-gaddafis-gold-reserves-among-the-top-25-in-the-world/
Thanks Dennis M,
I did not realize that Libya had that much.
Big Al
Al,
Who has it now?
Maybe we used Libyan Gold to make good delivery to Hugo Chavez.
I don’t buy this sunny assessment on real estate.
I think there may very well be another significant down turn in the economy next year and take real estate down with it. Heck, the economy is really sputtering now despite all of Benny’s efforts.
You could very well be correct, Ken.
I can see validity in both sides of the argument.
I do know that in many parts of the US, real estate prices are on the upswing. Seattle is a good example.
Big Al
Ken and Al, you are both right! Nobody really knows. Who can believe any numbers coming from the government today. The largest concern is the backed up foreclosure and bank owned properties. My thoughts are that prices will not go up until the government (banks) owns ALL the real estate. No way will the common man make any money here.
I don’t like the idea of buying distressed real estate and condominiums as an investment no matter if the Big Boys are doing it or not and I’m sure Al that you’re information on that is correct. Some of the bluest of blue companies go bankrupt and I will site General Motors, despite what Greg Manerino said about how the mortgage market was manipulated by the big bankers so they could control our money which is again true; but you must ask yourself if these banks were so smart I truly believe most of them would have failed without the bailouts. In light of this I wouldn’t follow their lead except to purchase precious metals.
When the banks rent these apartments out they will find that many of their tenants will fall behind in their payments because the job market will be flat on it’s back and when they go to evict, the unhappy renters will trash their properties. I just can’t see this as being the right move now because real estate will fall further when the dollar blows up and mortgages rates assume a traditional value. DT
Many tenants tend to live like farm animals and they believe they are entitled to free rent for months and months. They lose their jobs often and you cannot collect.
Real estate is not a liquid investment and you can get caught in it for years and decades if things get reallly bad. A gold etf can be sold in a split second even if you hold a very large position.
Now that, Paul L, is absolutely correct.
Big Al
Paul, you are so right, in the business we used to say that a good renter is an oxymoron.
Pretty good point, Machine Gun.
I gotta tell you, my friend, I never have and never will understand real estate.
Big Al
Al, can you get Peter Schiff on to discuss real estate? He is far and above more accurate in this field than anyone that I know.
I will put out an invitation to him, Bobby
Big Al
DT,
It all depends on your specific situation…I am a landlord doing ok in my town. It wouldnt be so bad for some people to invest in income producing property. BUT, you better KNOW WHAT YOU ARE DOING and possess EXCELLENT tenant relationship skills! Some, property owners are losing PERFECTLY good tenants. Why? Because they are playing the HIGH AND MIGHTY LANDLORD card. What idiots. They lose cash flow – just to soothe their inflated egos.
Marc
Marc
When mortgage rates go up and that’s the only place they can go, what if you had to renew at, 10, 12. 14%, can you or would you want to carry that mortgage especially when home values decline and you have less equity in the game. I had a home mortgage in 1982 that I had to renew @ 22 3/4%, so I took out a 6 months term and by the time 6 months was up the rate was 16%, but I only owed $28,000 and there was work around.
I just can’t see this as the bottom because the depressed house prices that are out there will fall farther when the mortgage rates go up. Carrying $250,000 at 6% will not be the same when a buyer must get a mortgage @ 10-14% and maybe just a lot higher.
I simply wouldn’t buy unless I had all cash and no mortgage, a person is no different than an institution, we all must be able to sleep at night. DT
Yep,
DT, You are absolutely right. That is why I SHOULD have said, by all cash, or don’t buy it. Unless it is a small, very small “bridge” loan where your margin is still extremely healthy. Good point, DT.
When things get hectic, I want Greg Manerino in my corner! I like his passion and his message.
Al: This is not the time to be putting capital into Rental Real Estate. Why?; Because rent is payed by renters, and as the economy collapses the only people who will be able to pay rent will be the wealthy and those who had most of their wealth in Real money. When the system collapses government will intervene in all rent seeking property and restrict owners from evicting renters and or changing rent. In fact the Government will dictate to the owners of the property what they are allowed to receive regardless of the costs in maintenance and taxes. Rental property could take another big leg down in value and the owners could get hurt terribly.
Real estate is not a fungible asset, it is a fixed asset and will be increasingly controlled by government during economic distress. Real estate will again be extremely valuable, but first it must get much much cheaper and the threat of government must reduce.
Al: I recommend you listen to the excellent interview done by GoldMoney’s Alasdair Macleod. Pay particular attention when Gonzalo talks about his Uncle in Santiago Chili during the collapse of the currency.
Grant Williams has an OUTSTANDING discussion on popular delusions and the madness of crowds on Zerohedge….28 minutes of brilliance! It sure made me “go hmmmm.”
Tex, Thank You for finding this gem of an article which was the only gleeming bit of light thus far on Al`s subjects of the week-end report. Apart from the dismal discussion on the plight of the U.S. economy which I see as boring and the ever talked about subject about who do we need to bomb over Libya fiasco, do we bomb ourselves ? I hope not, but perhaps heads will roll, perhaps not here in this life time, but at the White Throne in Heaven at the second death when they finally see the error of their ways and are thrown into that lake of fire. This fire sale ends rather utterly bad for all concerned because unless you`ve made plans before you die, like going to Jesus the Christ and making the confession of faith in Him(Romams 10:8-esp. verse 9–17) you will not escape with your skin intact as in the first resurrection, but will end in the last tier of the second resurrection then to stand before your maker at the White Throne of Judgement to see whether your name are in the books of life or have been blotted out because of sin.
TEX ..Well done for putting that up….Just watched it , would recommend everyone have a look, although he is not saying anything that we on this site dont already know , i just like the way he put it across. BTW if people have the time , read the # 3 pages of comments , its always good to know what the readers think of an article.
BTW…..The more you learn…The more you know…The more you’re prepared.
Those of you NOT buying SILVER at these lower prices put your DUNCE CAPS on & go & sit at the back of the CLASS.
And, Mr. Irish, face the wall!
Big Al
Amen, Mr. Irish!
Big Al
Amen, Dennis F!
Big Al
Grand Williams is one smart dude!
Big Al
FACE THE WALL ! Now AL , i am not that strict…haha
Yes Mr. Irish it is a good time to add physical silver at these prices. The governments have to print fiat money to stay in business. And that means silver is going up. Thanks for reminding me.
What if some English or Welshman were going after your Guinness?
Big Al
Posted on Nice read, I just passed this onto a freind who was doing a little research on that. And he actually bought me lunch as I found it for him smile Thus let me rephrase that: Thank you for lunch! We strain to renew our capacity for wonder, to shock ourselves into astonishment once again. by Shana Alexander.
HOW TO PERTUATE APATHY – New York Times Career Coach & Steely Dan v. Reality:
Have we allowed the obvious to be conditioned away to become obscure. When reading a NYT article today categorized as ‘Career Coach’ and titled “How to avoid a Political Minefield” the below thoughts were developed. The article encourages avoiding office cooler political discussions or when an uninvited heated political discussion arrives teaches methods of suppressing the speech that caused it to
arrive.
http://www.nytimes.com/2012/10/21/jobs/office-debates-about-politics-and-how-to-avoid-them.html?ref=business&_r=0
If we allow political discussions to continue to be out of the bounds of decent common discussion we will be condemned to have politics dominated by those permitted to speak about it….politicians, movie stars and union bosses. Why it that we have become comfortably conditioned so as to not talk about important things?
A couple months ago I found some escapism watching “Classic Albums- Steely Dan- Aja” on Netflix. I was amazed by the genius of the manner in which the artist compiled their opus album. But then I realized that I was overly familiar with the songs so that every nuance of the songs mixing caused me to assign genius to what was merely great music.
I was so used to the songs as they were mixed that the re-creation of how they were mixed together amazed me. Had I not known a garbage can lid was being bashed in the song Josie…I would never have missed it. A simple symbol would have sufficed. Have we become conditioned as to not tolerate talks about politics. Too many dinner salads are weathered away. A good table wine can stand up against any civil conversation.
Because we have been conditioned we have allowed inferior ideas to control the day. We assign genius to above average. We allow programs, projects, interventions both foreign and domestic to go unchallenged.
Fearing not the wrath of the water-cooler but being assessed poorly by necessarily politically correct managers we have allowed our environment to be conditioned. It is as if we are mere zoo animals. As aquarium fish sucking air we talk about sports and weather and suck up for a promotion and/or raise. We fear the momentous because it has been banned as impolite. The impolitic of talking politics has become a self-fulfilling prophecy condemning us to live with bad politics. On the day the white van comes to take us away we will wonder why we did not raise our objections earlier. When all is said and done we may be better off talking about politics instead of elaborating on how cool it was watching the “Classic Albums- Steely Dan- Aja” on Netflix.
Dennis: Lew Rockwell and Joseph Solerno give a really good take on the State and US governments. You will like this, and if you have already heard it, what do you think?
Clay,
I am listening to it now.
I have dubbed in a Steely Dan soundtrack.
Those two are a couple of my favorites over at “Tu ne cede malis”.
I am the king of typos…….”How to PERPETUATE apathy.”
I am amzaed that Steely Dan knew The Crimson Tide would be #1.
“They call Alabama the Crimson Tide call me Deacon Blues.”
Not for long Dennis M. The Gators are coming on strong. Meet the Tide in the BCS? Good match up. Go Gators1!!
Morning Gatorman,
I would not count out Oregon yet. They are pretty good!
Big Al
Thanks for the link, Clay
Big Al
That’s really thinking at an imsevpsire level
This on goes out to Gatorman……………
http://www.youtube.com/watch?v=t6MmYlW1_gw
I crawl like a viper through these Gainsville streets…
I’ll rise when the sun goes down
cover every game in town
A world of mine own
I’ll make it my home sweet home
Learn to work the saxaphone
I..I play just what I feel
I drink scotch whiskey all night long and dine behind the wheel
They got a name for the winners in the world
I….I want a name when I loose……
Such a nice Post Really Good Information and content..
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Thanks
Nice looking residences, Robert!
Big Al
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The DEATH of the petrodollar is BY FAR the single most devastating economic influence on the USA…in a LONG time, if not ever. The global economy is sick and tired of us influencing and manipulating the world because of our incredible lust and gluttonous consumption of massive amounts of petroleum products. Most Americans have NOT A CLUE how that this economic fact is going to disrupt and wreak major lifestyle changes to their existence.
Marc