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From The Economic Collapse

Well, it is official.  The restructuring deal between Greece and private investors has been pushed through and the International Swaps and Derivatives Association has ruled that this is a credit event which will trigger credit-default swap contracts.  The ISDA is saying that there are approximately $ 3.2 billion in credit-default swap contracts on Greek debt outstanding, and most analysts expect that the global financial system will be able to absorb these losses.  But still, 3.2 billion dollars is nothing to scoff at, and some of these financial institutions that wrote a lot of these contracts on Greek debt are going to be hurting.  This deal with private investors may have “rescued” Greece for the moment, but the consequences of this deal are going to be felt for years to come.  For example, now that Greece has gotten a sweet “haircut” from private investors, politicians in Portugal, Italy, Spain and other European nations are going to wonder why they shouldn’t get some “debt forgiveness” too.  Also, private investors are almost certainly going to be less likely to want to loan money to European nations from now on.  If they will be required to take a massive haircuts at some point, then why in the world would they want to lend huge amounts of money to European governments at super low interest rates?  It simply does not make sense.  Now that…

From Mish’s Global Economic Trend Analysis

Ron Paul was on Face the Nation today discussing Rush Limbaugh, Rick Santorum, and Government Mandates.

CBS News reports Paul: Limbaugh apologized for personal gain.

Republican presidential candidate Rep. Ron Paul said an apology by conservative talk radio host Rush Limbaugh to Georgetown Law student Sandra Fluke for calling her a “slut” and a “prostitute” was not sincere, and was made only because it best served Limbaugh.

“He’s doing it because some people were taking their advertisements off of his program. It was his bottom line he was concerned about,” Paul said.

Paul referred to three companies that pulled advertisements from Limbaugh’s show following incendiary remarks Limbaugh made about Fluke for testifying before a mock Congressional committee in favor of free contraception insurance coverage at Georgetown, a Jesuit university. [One company's spokesman said that Limbaugh's comments "do not align [with] our values.” Another pulled out “Due to continued inflammatory comments – along with valuable feedback from clients and team members” about the remarks.]

Although Paul disagreed with Limbaugh’s remarks and called them “over the top,” he said the government should not mandate that insurance companies provide contraception coverage.

“This is philosophically and politically important because, does the government have a mandate to tell insurance (companies) what to give?” Paul asked, and then responded to his own question: “So they’re saying that the insurance companies should give everybody free birth control pill, that strikes me as rather odd.”

Paul was

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From SurvivalBlog.com

Those pesky derivatives have come back to bite: ISDA: Greek Debt Restructuring Triggers CDS Payouts. Since CDS contracts are measured in many billions of dollars, the counterparty risk is huge. As previously mentioned, they are calling this default a "credit event", since it sounds more gentle and palatable for the sheeple. (Thanks to C.D.V. for the link.)

U.S. to sell $ 6 billion in AIG stock.

What does an America with no middle class look like?

Items from The Economatrix:

Consumer Borrowing Nearly At Pre-Recession Level

Why Job Growth Might Mean Unemployment

Oil Up On Greece Hopes

You Won’t Believe The Real Inflation Rate

From Notes from the bunker…

Took the Uzi carbine for a spin yesterday. Worked well, I am pleased. I need to adjust the sights just a tad, but I am otherwise happy with it. Now comes the mind-numbing, boring and expensive part: logistics. I need to pick up Magazines, spare parts, accessories, tools, information, barrels, stocks, ammo, etc. Fortunately there’s a ton of demilled surplus full-auto Uzi’s around these days…some of the parts I’ll need for spares can come from those. Others, like parts that are dedicated semi-auto parts, will have to come from elsewhere. I especially need to pick up a threaded barrel for the suppressor. I would also like to get a dust cover with a mount for a small fast-acquisition dot optic. For the last week I have been immersing myself in Uzi diagrams, photos, and technical treatises. It’s a fairly simple weapon from the Kalishnakov school of tolerances. There is a lot of empty space in that receiver for crud and fouling, and the tolerances appear to be set with that in mind. I suspect that this thing would go about as long as your average AK between cleaning.

An interesting bit of serendipity – I ordered some Uzi parts last week. I get a call today from the outfit I ordered from “Hey, we sent you the wrong package. Instead of the handguard screws and barrel nut you wanted, we sent you a brand new barrel. Just return it to us and we’ll…

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Taking a look at the basic prepping needs and an update to some of the things I’m doing. If you’re interested in a long term food storage solution please checkout: www.mk1322.mygofoods.com

From Mish’s Global Economic Trend Analysis

Quick Notes About the Unemployment Rate

• In the last year, the civilian population rose by 3,584,000. Yet the labor force only rose by 1,569,000. Those not in the labor force rose by 2,014,000.

 

• In February, the Civilian Labor Force rose by 476,000.

 

• In February, those “Not in Labor Force” decreased by 310,000. If you are not in the labor force, you are not counted as unemployed.

 

• Participation Rate rose .2 to 63.9%

 

• Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%.

Over the past several years people have dropped out of the labor force at an astounding, almost unbelievable rate, holding the unemployment rate artificially low. Some of this was due to major revisions last month on account of the 2010 census finally factored in. However, most of it is simply economic weakness.

Jobs Report at a Glance

Here is an overview of today’s release.

• US Payrolls +227,000 – Establishment Survey
• US Unemployment Rate steady at 8.3%  – Household Survey
• Average workweek for all employees on private nonfarm payrolls was unchanged to 34.5 hours
• The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged higher 0.1 hour to 33.8 hours.
• Average hourly earnings for all employees in the private sector rose by 3 cents to $ 23.31

…

From SurvivalBlog.com

So how does one start down this journey of becoming a prepper?  For me and eventually our family, it was a gradual transition, which included the convergence of medical, physical and political convictions.  This was not a planned journey but rather one, which we have come to embrace as our only path to survival.

We are a typical family in one sense and atypical in another.  We have led a typical life of work, play and trying to get ahead.  Where our life has veered from this typical course is the support we must provide to one of our children who has special needs.  We have a child with autism, who has been experiencing medical problems for many years.  After trying various doctors, we landed on a doctor of homeopathy.  Not only did we find a kindred spirit who also believed that typical western medicine did not seek of solve medical conditions as much as prescribe another pill.  We also found that our child had celiac disease also known as gluten intolerance to the extreme!

Learning about celiac disease, the cause or what triggers it and the need to go gluten free has rekindled the desire to grow and produce natural foods free from gluten and other chemicals, which are destroying our bodies.  Our parents grew gardens and put up canned foods but through years of grocery store conveniences, they gave up those practices. Both my husband and I grew up with home canned goods but…

From SurvivalBlog.com

I started not to write this piece- not because I feel any shame about my approach to survival and prepping, but largely because I will be misunderstood or dismissed- as I have been whenever I try to enlighten friends and co-workers of the need to have a survival plan. But I feel it may help others who are not wealthy enough to buy thousands of dollars worth of MREs or hundreds of pounds of hard red wheat and a grinder… and frankly, because I do not welcome the competition for my supply of food and supplies.

Many years ago I began prepping for Y2K. Nothing happened then, but the exercise was of undeniable importance in my life. I had been keeping a pantry for years, because being self-employed leads to a life cycle of feast or famine. At least for me.
 
I used the last of the dry goods and kerosene from my Y2K prep stash in early 2011.

I provide services for businesses now. My job involves a lot of driving, and a lot of contact with grocery stores. I discovered a long time ago that grocery stores, drug stores, and discount stores throw away tons of usable and consumable food and other necessities. Gleaning these supplies takes some work and the willingness to deal with a little mess, but for me it has been well worth it. I bet I haven’t spent a hundred bucks…

From Modern Survival Blog

Yesterday I happened to be visiting with a friend for a few hours. We went down into her basement and I saw the nice, well stocked metal pantry shelves her husband had built. Immediately, a big smile came to my face. I turned to her and said, “What a nice pantry! I have to congratulate you on what you’ve stored. Nice job!”

She said that when her husband goes shopping and something is on sale 10 for $ 10, he buys 10 and we put them down here. Again I complimented her for taking advantage of sales, and storing what they can. I said, “You know you’re doing the right thing, don’t you? The prices are only going to continue to rise.” She agreed.

This little encounter reminded me of how important it is to have your food storage organized and how pantry organizers can make a big difference. I was very pleased to see how nicely her shelves were organized. It’s very important to have your food storage organized.

Why is organization important to your food storage? One thing, is that being organized, will allow you to see at a glance how much of a particular item you have in your storage. This will let you know whether or not you need to purchase more of that item. Being organized will also help you to properly rotate your food.

For example, I started using pantry organizers (‘can racks’) similar to this

My review of the Mr Heater I got for Mota off Craigslist for , after a day driving in Freezing temps, it was tested “usable ” Im prepping the bus for a SHTF event, so its going to be survival ready and as self reliant and I can make it. I am blogging about the bus with tons of resources about survival and prepping at www.survivalbus.com Survival, survive, survivalist, prepared, preparedness, emergency, emergencies, urban, disaster, wilderness, alive, outdoors, camping, fishing, hunting, first aid, survivor, nature, shelter, fire, water, food, self reliance, self sufficiency, infowars, alex jones, glenn beck, volkswagen vw bus air cooled