A few things to share today.
I wanted to start with xtra normal folks. These guys are on fire. Buy silver!:
I also caught this graph on Zero Hedge:
CNBC and the bankers can take their economic recovery and shove it up their you know what.
I find it ironic how the stock market started surging right around the same time this chart went parabolic.
How can Wall St expect the economic recovery to continue when almost 15% of this country can't afford to eat? Imagine what this chart will look like 6 months from now when people start running out of their 99 weeks of unemployment benefits.
Think about it folks: The majority of the job losses in this country hit in the second half of 2008 and the first quarter of 2009. 99 weeks of benefits is about two years when you do the math.
This means millions of people are going to start losing their benefits over the next 6 months, and most of them have likely burned through what savings they had in the process because their unemployment checks weren't enough to pay the bills.
As a result, I expect the graph above to surge even more dramatically over the next 2-3 quarters. Consumer spending is going to fall off a cliff as Americans start running out of their government handouts.
As this happens, I wonder how Apple going to continue to sell their little I-pods when consumers need to start using what money they have left to buy food instead.
You have to amusingly ask yourself: Will the Helicopter Fed come in and bailout these companies too when there are no buyers left? I say why the hell not? He did it when there was no one was left to buy treasuries. Why not do the same thing when we run out of consumers?
Perhaps Mr. Bernanke can create a consumer "TARP" where he buys 100 million I-pads and 500 million smart phones in order to keep our "awesome" economic recovery going.
Face it folks, our economic recovery is a sham, and I can't wait to watch our sociopathic bearded Fed chairmen on 60 minutes tomorrow night.