Martenson — No Green Shoots Here

Four Horsemen of the Apocalypse

From Chris Martenson’s excellent website

The Dollar Bubble (Video)

(Quote from their earlier press release)The National Inflation Association is pleased to announce the release of ‘The Dollar Bubble’, a new 30 minute documentary about the upcoming collapse of the U.S. dollar and how the Federal Reserve’s destructive monetary policies could bring the U.S. financial system to an end.

Saab May Be Done

The future of Saab was thrown into doubt on Tuesday after General Motors announced a consortium led by Swedish investors pulled out of talks to buy the premium car brand. The deal’s collapse marks the second failure by GM in less than two months to sell a money-losing brand. In October, Penske Automotive Group abandoned a deal to acquire GM’s Saturn because of doubts about securing a long-term supply of vehicles.

Moody’s Finds Commercial Property at 2002 Prices

An index compiled by Moody’s Investors Service found that prices of commercial real estate have, on average, returned to levels seen seven years ago. The Moody’s/REAL Commercial Property Price Index declined 3.9% in September to 109.61 from 114.06 in August. Based on the index, prices for commercial real estate were 37% lower than in September 2008 and 42.9% below the peak measured in October 2007. The index is based on repeat sales of the same properties across the U.S. at different times.

Global sovereign debt to hit $49.5 trln-Moody’s

Global sovereign debt is expected to hit $49.5 trillion by year end, a 45 percent climb since 2007 as the credit crisis takes a toll, Moody’s Investors Service said on Tuesday. The expected $15.3 trillion increase in worldwide government debt is more than 100 times the inflation-adjusted cost of the Marshall plan, Moody’s ( MCO – news – people ) said in a report.

Fannie Mae cuts portfolio, delinquencies jump

The conventional single-family serious delinquency rate rose 27 basis points to 4.72 percent, while the multifamily serious delinquency rate rose 6 basis points to 0.62 percent. One year ago, these rates were sharply lower at 1.72 percent for single-family and 0.16 percent for multifamily.

U.S. dollar collapse could devastate economy: book

A dollar plunge could ravage the U.S. economy as soon as 2012, when foreign investors are likely to exit en masse from U.S. assets, according to a new book by two analysts who forecast the recent credit crisis.

Farm Income Collapse Will Weaken Construction Recovery in the Plains States

After soaring in 2007 and again in 2008, farm income has plunged in 2009 with little improvement expected in the next few years. A 30% drop in 2009 farm income is projected by the US Agriculture Department. Except for recession in 2002, this will drop the constant dollar value of farm income back to the level of the early 1980s when the farm crisis was headline news.

Long lines for area’s homeless shelters (San Jose area)

Dozens are on the list for spots at Hotel de Zink and InnVision’s 60-bed Clara Mateo Shelter in Menlo Park. Further up the Peninsula, Shelter Network of San Mateo County is reporting the longest waiting lists in its 23-year history at its shelters in Redwood City, San Mateo and elsewhere. Eighteen months ago, Shelter Network was fielding about 100 phone calls per week from people in search of a place to stay, said Amy Wright, the nonprofit’s interim development director. Last week it got more than 900 calls for help.

We’re running out of gold – miners

GOLD production will continue to fall, despite a brief boost in 2009 and soaring prices, as deposits are exhausted and new discoveries remain elusive, say miners. In terms of production, “2009 is the outlier as far as the trend,” Omar Jabara, spokesman for US-based Newmont Mining, the second-largest gold producer in the world, told AFP. Overall, “it’s a fact that gold production from mines has been in decline since 2001 and has gone roughly from 85 million ounces to about 75 million ounces a year,” said Vincent Borg, spokesman for number one producer Barrick Gold.

Budget cuts force Fresno to axe Christmas tree

The economy is the Grinch stealing Christmas at Fresno City Hall, where layoffs and budget shortfalls have left no money for the downtown holiday tree. Fresno spokesman Randy Reed said staff reductions mean fewer people are available to set up, decorate and take down the giant tree that has been hauled each year from the Sierra Nevada. Last year thousands of families turned out for the lighting of the 61-foot tree, which took workers a full week to get ready.

RivCo financial picture looking bleak; hundreds of layoffs likely

For Riverside County to keep from depleting its reserves and begin to shrink its budget deficit, 800 to 1,500 county employees will have to be dropped from the payrolls over the next two years, County Chief Financial Officer Paul McDonnell told the Board of Supervisors today. During an afternoon budget workshop, McDonnell told the board that “hard decisions” will have to be made as the county struggles to make do with less revenue. “The numbers are grim all over,” McDonnell said. “We’re in deep water here.”

NY grocer plans to close 53 stores, lay off 4,000

The Penn Traffic Co. has told New York officials it expects to close dozens of supermarkets in upstate New York and lay off more than 4,000 employees.

Bare necessities top holiday wish lists

“We have people coming to the food bank who said they were donating to us last year, but who are now out of work and in need themselves,” said Alison Bono, who coordinates marketing for the Mid-Michigan Food Bank in Lansing. She said that close to 1,000 people stand in line for produce handouts each week as they seek to supplement food stamps with fresh fruits and vegetables. A little more than week before Thanksgiving, food bank supplies that used to be enough to last for six to eight weeks are now down to 10 days, said Ms. Bono, who calls the current seasonal needs extreme.

Related posts:

1. The Notion of Green Shoots is Laughable!
2. Chris Martenson Daily Read
3. Martenson Sees No Recovery
4. Selected Links from Martenson
5. Martenson’s Forecast for How This Ends