Two Facts That Are Bigger Than The Debate

Zero Hedge ^ | 10/17/2012 | Phoenix Capital Research - Graham Summers

[SatinDoll]

While the media world is abuzz with last night’s Presidential debate, I’d like to cut through the noise and present you with two truly staggering facts that need to be kept in mind as the backdrop for the US Presidential Election

Fact #1: EU leaders have stated point blank that they were asked to keep things quiet until after the election.

Regardless of your party affiliation, social views or the like, we have to ask ourselves “what was promised in return?”

[snip]

...The powers that be are keeping things calm until after the election… at which time there will be absolute hell to pay.

And we Americans are going to be on the hook...

Fact #2: China is facing a severe downturn if not outright collapse.

As I’ve stated many times before, the China economic “miracle” is in fact one colossal Government funded fraud...

[snip]

“All industries are going down, but why aren’t the official statistics going down?” asked Bob Wang, the sales manager of Kralle Tools, a manufacturer in Wenzhou, an eastern city, that makes circular saw blades for lumber mills.

He said he believed that government officials had been underestimating the extent of China’s slowdown to avoid losing face.

http://www.nytimes.com/2012/10/16/business/global/at-trade-fair-chinese-exporters-a-bit-more-optimistic.html?pagewanted=2&_r=2

So… expect the news out of China to get worse and worse once the election is over...

Europe and China combined account for 34% of the world’s GDP. Throw in the US which has re-entered a recession and 55% of the globe’s GDP is in contraction.

And everyone is waiting on November 6 to see how this will pan out...

[SatinDoll]

The above was written by Graham Summers of Phoneix Capital Research and submitted to Zero Hedge.

For more market commentary and investment insights, swing by

http://www.gainspainscapital.com

I don't know about anyone else, but the above just hardens my resolve to find a way around what will be difficult times ahead.

[mosaicwolf]

Maybe we will have to start producing in America and buying American. What a concept!

[Reddy]

Just proof of what we all suspected. Should WMR win the presidency, the stats will suddenly get real (plummet) and zero and hitlery will blame it on WMR before he even gets into office. It’s going to get bad.

[SatinDoll]

I already buy a lot of used or second-hands goods. Many tools made thirty or forty years ago are of better quality than today’s tools from Asia.

[Citizen Tom Paine]

What should we do? Particularly, to protect our children and grandchildren.

[OneWingedShark]

What should we do? Particularly, to protect our children and grandchildren.

Politicians, Gallows, then BLOAT.

[BfloGuy]

And we Americans are going to be on the hook in one form or another. Something was promised in exchange for the EU keeping things quiet. And we won’t find out what it is until after November 6

We already know what it is.

Billions, or, perhaps, trillions [who knows?] of more Fed-printed counterfeit dollars. Americans will eventually pay for that help through reduced purchasing power of their diluted currency.

If the government were to increase taxes by, say, 5% to help our European friends, outrage would ensue. But they know very well that no one will make a peep if they tax us through the back door by inflating the currency some more.

[Lorianne]

Buy local
Sell local
Buy only what you really need (not want).

Wait it out