Update 1: Japanese Nuclear Safety Authority Doubles Estimates of Initial Fallout(!) Of course, expect this to be doubled every 3 months from now on.
Last week, we reported that the crisis in Greece would escalate from bad to worse as new austerity measures were announced in order to comply with yet another IMF/ECB/EU
Today, over 150,000 protestors showed up in Athens in what is expected to be the largest protest yet and the buildup of the June 15th general strike. Of course, this general strike, like all other nationwide strikes will be bullish for the "stock markets," but savvy investors will protect their assets by purchasing gold and silver - the only two major stores of value that have been used for thousands of years as money and can't be inflated away. Daily fluctuations and price swings may keep some investors at bay, but in the long term, there is no stopping this basic algorithm:
N (natural disasters) * F2 (frequency squared) + Rf (Fukushima radiation) = Qi (quantitative inflation)
Plug the numbers in and you can see why gold (and silver) is going higher long term. If you go one step further and add another variable called Hc (house of cards global economy), you can add an exponent to the Qi component. With that said, there is a direct correlation between a declining economy and bankster bonuses. It's a self-perpetuating cycle which forms exactly the same pattern as a flushing toilet - including the turds, the "whooshing" sound and all.
Speaking of turds, TEPCO stock took a 28% haircut today as investors realized
Rd (radiation at reactor dry well) * Rb (radiation at reactor building) * Nr (number of reactors) * Tt (Total radiation released into environment) * Np (number of people with radiation sickness) + I (insurance claims) * A (total area in square miles) = Pf (percentage of decline)
Plugging in the numbers, we see that TEPCO stock is still overvalued after today's drop and needs to decline at least 100% to reach fair market value. You do the math.
All kidding aside, radiation at the reactor 1 building has literally exploded to 4 Sv/hour from 2 Sv/hour just two weeks ago. Notice that this radiation is at the building itself and not the reactor dry well(!) which has also increased dramatically from 190 Sv/hour to 250 Sv/hour in just 3 days time. On Fry-Day, Arnie Gundersen droped a bombshell in an interview with Chris Martenson when he says, "I am in touch with some scientists now who have been monitoring the air on the West Coast and in Seattle for instance, in April, the average person in Seattle breathed in 10 hot particles a day." That explains why "rogue" citizens armed with geiger counters have been picking up large spikes in radiation all over the country - from the radioactive hailstones in Joplin, to the radioactive rain water in Pennsylvania - and the total media blackout of these discoveries. Remember, the consequences are too profound and would mean the meltdown of the economy. Other highlights from the interview include 1) his recommendation to leave Tokyo if reactor 4 collapses, 2) the full dangers were known to the NRC and Japanese officials within hours but they did not tell the public and 3) given the amounts of iodine being detected all over, nuclear fission continues. This is a must read interview or listen to the audio interview if you don't have the time. Educate yourself and pass it along to your loved ones.
By now, everyone with the smallest amount of financial knowledge knows Wall Street analysts couldn't predict rain if cirrostratus clouds were staring them right in the face. Last week's data proves that 100% as not a single analysts came even close to predicting the economic data, but this article from ZeroHedge goes one step further, proving Wall Street is a total joke. What's their purpose again? However, perhaps even more telling about the state of affairs of this "economy" is the fact that half of last month's new jobs came from a single employer - drum roll please - that employer was none other than McDonald's. Isn't it ironic that their mascot is a clown? How fitting for this global "economy." We can't wait to hear on CNBS how this huge volcanic eruption in Chile, which is displacing thousands of people, will be bullish for the economy - just like the triple catastrophes in Japan were "bullish." The clock is still ticking for the quarterly reports to be released and somehow we think a ton of releases will be "delayed." In the meantime, view these incredible pictures from the eruption in Chile. And for those of you who love numbers, roughly 80,000 square miles have been covered in this absolutely "not toxic" ash. Well, that's a "load" off our minds. Next up - we're waiting to hear from Ann Coulter that hot volcanic ash is actually healthy for you, so breath deep.