Gold Buying Contributing To Criminality?

In the following video I discuss the explosion of the gold buying culture in the United States and I illustrate how gold buying is indirectly contributing to a sharp rise in jewelry theft.

Gerald Celente the disintegration of Empire America

Economy to Weaken Next Year: Merrill’s Rosenberg

The US economy is likely to weaken even further next year, but inflation is mainly contained to oil and other commodities, Merrill Lynch economist David Rosenberg told CNBC.

“I actually believe that `09 is going to be weaker than `08,” the well-known economist said.| “It’s not going to be a straight line; not every quarter is going to be bad.”

“The capital-goods sector is decent, exports are decent,” Rosenberg added. “In terms of the credit crunch, are the numbers coming in broadly above my expectations of three months ago?| There’s no question, but let’s not sugar-coat the situation. It is fraying at the edges right now.”

He also said he saw something ominous in the otherwise-positive first-quarter GDP report, something he didn’t see in 2001, or in nearly two decades: A slowdown in sales of durable and semi-durable goods.

Click here for full story

Why is Walmart Thriving in an American Recession?

wal-mart2.jpgGiven the economic headwinds, one would think that a
retailer catering to lower-end consumers would be doubly
slammed. As the subprime-mortage mess shows, people
at the bottom of the income ladder are struggling. And as
for the retail sector generally, don’t ask. Retail sales have
been sluggish in recent months, and national chains are
shutting down stores by the dozen. From Nordstorm
down to Target, fourth-quarter profits have been
disappointing.

Which brings us to the mystery of Wal-Mart. The nation’s largest retailer, which caters to working-class customers, seems to have something of a sweet spot. The stock closed Tuesday at $51.40—its highest close since March 2005. Amid the market turbulence of the last six months, Wal-Mart’s stock has risen nicely and has pasted the Standard & Poor’s retail index. Wal-Mart’s stock makes an excellent proxy for the health of the working-class consumer. So how can it be that Wal-Mart’s stock is outperforming its tonier, trendier rivals.

Full story:
http://www.slate.com/id/2185221/

CNN Money: Williams Admits Great Depression Coming

GM Posts Biggest Annual US Auto Loss

gm.jpgGM Posts Record US Automotive Loss
of $38.7B for 2007, Offers Buyouts to
74,000 US Workers

DETROIT (AP) — General Motors Corp. reported
a $38.7 billion loss for 2007 on Tuesday, the largest
annual loss ever for an automotive company, and
said it is making a new round of buyback offers to
U.S. hourly workers in hopes of replacing some of
them with lower-paid help.

The earnings report and buyback offer came as GM struggles to turn around its North American business as the economy weakens.

Full story:
http://biz.yahoo.com/ap/080212/earns_gm.html

54 Year Old Tampa Business On The Verge Of Financial Collapse

westshore_glass1.gif Westshore Glass Corp. has filed a Worker
Adjustment and Retraining Notification
with the Florida Agency of Workforce
Innovation announcing its intention to
lay off 113 employees from its
West
Hanna Avenue
and West Knox Avenue
locations in
Tampa.

The company, which filed a petition Jan. 30 for Chapter 11 reorganization, said in the notice that its layoff would take place between Jan. 31 and Feb. 13. A call to Westshore Glass general manager Todd Elozory seeking comment is pending.Herbert R. Donica of the Donica Law Firm who is representing Westshore asked the U.S. Bankruptcy Court’s Middle District of Florida to allow it continued access to its checking accounts Friday so that it could continue to order inventory and maintain its business. A judge has yet to rule on the request.

At the time of its petition last week, Westshore Glass employed 110 people, half of what the company has had in previous years, according to court documents. The company’s biggest creditor is Colonial Bank, which is owed $3.5 million. Unsecured claims against the company totaled $9.2 million.After several buildings of its main plant on West Knox suffered $5 million in damage from a January 2006 fire, Westshore Glass relocated and consolidated to a new facility.

Westshore Glass reported net sales of $21 million in 2007 and $26 million 2006.

Source:
http://www.bizjournals.com/tampabay/stories/2008/02/04/daily47.html