Zero Hedge: The Last Time The Dow Was Here…

If you follow markets, you’re probably aware of all these facts. But to see them compiled like this is shocking. From Zero Hedge:

  • Dow Jones Industrial Average: Then 14164.5; Now 14164.5
  • Regular Gas Price: Then $2.75; Now $3.73
  • GDP Growth: Then +2.5%; Now +1.6%
  • Americans Unemployed (in Labor Force): Then 6.7 million; Now 13.2 million
  • Americans On Food Stamps: Then 26.9 million; Now 47.69 million
  • Size of Fed’s Balance Sheet: Then $0.89 trillion; Now $3.01 trillion
  • US Debt as a Percentage of GDP: Then ~38%; Now 74.2%
  • US Deficit (LTM): Then $97 billion; Now $975.6 billion
  • Total US Debt Oustanding: Then $9.008 trillion; Now $16.43 trillion
  • US Household Debt: Then $13.5 trillion; Now 12.87 trillion
  • Labor Force Particpation Rate: Then 65.8%; Now 63.6%

Read the rest here.

More Raw Footage from ‘The Bubble’ – Jim Rogers

Another brilliant series of raw cuts, this time featuring legendary investor Jim Rogers, from the upcoming film The Bubble. Of the hundreds of interviews I’ve seen with Mr. Rogers, this is possibly the best. Why? Probably due to the fact that the film’s writer, Thomas Woods, is an Austrian/free-market economist like Rogers.

“American finance is going to be in a (relative) decline for the next 2 or 3 decades… 10 years ago, most IPOs were done in NY…”

“It will be good for us all when this central bank eventually disappears…”

Americans’ Distrust in Media Hits All-Time High

It’s about time… From Gallup:

 Americans’ distrust in the media hit a new high this year, with 60% saying they have little or no trust in the mass media to report the news fully, accurately, and fairly. Distrust is up from the past few years, when Americans were already more negative about the media than they had been in years prior to 2004.

Public trust of media poll gallup

The record distrust in the media, based on a survey conducted Sept. 6-9, 2012, also means that negativity toward the media is at an all-time high for a presidential election year. This reflects the continuation of a pattern in which negativity increases every election year compared with the year prior. The current gap between negative and positive views — 20 percentage points — is by far the highest Gallup has recorded since it began regularly asking the question in the 1990s. Trust in the media was much higher, and more positive than negative, in the years prior to 2004 — as high as 72% when Gallup asked this question three times in the 1970s.

Look at the “trust a great deal/fair amount” numbers too. Encouraging.

The stats broken down by party membership are even more interesting.

Democrat's approval of mainstream media

What I find most disturbing is how much the left continues to trust the media, with 58% saying they trust the media a “great deal” or a “fair amount. Compare that to Republicans’ ~28%.

Don’t get me wrong. I hate both parties on 99% of issues. This year I switched to GOP  to vote for Ron Paul in MD. I doubt I’ll ever vote mainstream again, unless there’s a drastic change in the parties.

When I think about it, though, I suppose it really shouldn’t be surprising. Given that every recent so-called “humanitarian” war has been so easily peddled to both neo-libs and neo-cons alike, who are we to stop it?  Isn’t one of these parties supposed to be anti-war?

If you’re still skeptical that the MSM has an agenda, get some popcorn and watch the greatest clip in Daily Show history:

There’s more data and charts at

Marc Faber Prefers Bonds From Kazakhstan to US, Europe

Faber’s latest, via Bloomberg TV, is a must-watch. Key points:

  • Kazakhstan is economically a “much sounder country than the US or any European country.”
  • Says investors should own gold, but “don’t store it in the US”, as “The Fed will take it away from you one day.”
  • Has bought equities in Portugal, France recently due to valuation.
  • Appreciates Fed as an investor, rebukes as “responsible citizen” as their actions will “destroy the world”.
  • Due to cheap Fed money, wealthy will buy up houses and rent them back to those who lost them during the housing bubble, which was also created by the Fed (towards the end of clip, worth watching).

Some may be skeptical of that second claim, that the Fed could one day confiscate gold bullion held by Americans. If you fall into that category, please read this piece by Tom Woods.

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