Thread: There’s Only One Way to Describe This Situation: SHAMBLES

There’s Only One Way to Describe This Situation: SHAMBLES

Mac Slavo
October 25th, 2011
SHTFplan.com
27 Comments

shambles — noun
1. a place of great disorder
2. a place where animals are brought to be slaughtered
3. any place of slaughter or carnage

Perusing the headlines today you’d think that the entire world economic, financial and political systems were at risk.

Oh, wait, they are.

â–* Consumer Confidence Hits Two and a Half Year Low
Consumer confidence unexpectedly dropped to its lowest level in two-and-a-half years in October as consumers fretted about job and income prospects.The Conference Board, an industry group, said its index of consumer attitudes fell to 39.8 from a upwardly revised 46.4 the month before. It was the lowest level since March 2009. Economists had expected the index to rise to 46.0, according to a Reuters poll. September was originally reported as 45.4.

[Via: Reuters] http://www.reuters.com/article/2011/10/ ... A620111025

[Editor's note: They didn't see it coming. Again. These are the same people who are telling us we've been in recovery for 18 months.]

â–* Home Prices Fall More Than Forecast
Home prices in 20 U.S. cities dropped more than forecast in August, highlighting one of the obstacles facing the economic recovery in its third year. The S&P/Case-Shiller index of property values in 20 cities fell 3.8 percent from August 2010, the group said today in New York. The median forecast of 30 economists surveyed by Bloomberg News was for a 3.5 percent decline.

[Via: Yahoo] http://tinyurl.com/3zxqzqk

[Editor's Note: Another surprise. How.....surprising.]

â–* Home prices rise for 5th straight month
Home prices continued a winning streak in August, the fifth straight month of price gains, but remain lower on a year-over-year basis.

[Via: CNN] http://money.cnn.com/2011/10/25/real_es ... ?hpt=hp_t2

[Editor's Note: We're not sure what to think anymore. All the spin has us dizzy.]

â–* European EconFin Council Meeting Cancelled

Officials tell Brussels Blog the so-called ‘Ecofin’ council meeting is now likely off, and in a letter to Jean-Claude Juncker, the Luxembourg prime minister who chairs the group of 17 eurozone finance ministers, Rostowski makes it appear the cancellation is due to a failure to agree on outstanding issues.

[Via: The Daily Crux] http://www.thedailycrux.com/content/9014/Euro

[Editor's Note: Wasn't there supposed to be a solution to Europe's debt crisis two years ago? For today, it looks like we're at yet another impasse. Tomorrow we should have it all figured out though.]

â–* Banks Clash With Lawmakers on Greek Rescue
Banks are pushing back against European leaders on the size of losses they are ready to accept on Greek bonds as officials struggle to rescue the debt-laden country while avoiding a default.

[Via: Bloomberg] http://www.bloomberg.com/news/2011-10-2 ... -loom.html

[Editor's note: Greece? So the austerity and the previous bailout deals and billions in capital infusions didn't work? And now, God forbid, the banks will have to take losses of 60% on their investments? Don't worry, there is certainly a plan in the works, or at least, there's a plan to get together about putting together a plan.]

â–* U.S. Taking $1T From China While Aiding Country, Too?
China is one of the biggest economies in the world and grew at more than 9 percent over the last year. It also has loaned more than $1 trillion to the U.S. to fund its deficit-spending.But at the same time, the U.S. sends foreign aid to China, which lawmakers of all stripes say is just plain nuts.

[Via: Fox News] http://www.foxnews.com/politics/2011/10 ... ng-it-aid/

[Editor's note: It's a bizarro world, but nuts is the new normal. Wait, did they just say we borrowed $1 trillion? Pocket change for the HOTUS (Helicopter of the United States) piloted by Ben Bernanke.]

â–* France says EU Summit Failure Could Tip the European Continent into Unknown Territory
“We are living in crucial times. If the summit is a failure, this could tip the European continent into unknown territory,â€

All the bad news and as Ron Paul stated in the last debates was,you really do not want to see what is coming if dramatic changes are not made now.

I love SHTFP! Usually some interesting comments/bantering over there.

Mac seems very involved in the conversations too.