Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

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Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

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Real reason for electricity blackouts hitting southern US

Real reason for electricity blackouts hitting southern US

“Large oil companies have for a decade artificially shorted the gasoline market to drive up prices,” said FTCR president Jamie Court. “Oil companies know they can make more money by making less gasoline.” The following article was written by Paul Joseph Watson. He is t

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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

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Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

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US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

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FDIC wants your retirement cash to save banks: Bloomberg

FDIC wants your retirement cash to save banks: Bloomberg

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work

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Canadian government admits recovery never happened

Canadian government admits recovery never happened

“Not only did their stimulus fail to create the jobs of tomorrow, it also failed to protect the jobs of today,” Scott Brison, the opposition Liberal Party’s spokesman for finance issues, said by telephone. "Most of us were shaking our heads in disbelief early last year w

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How Western society is brainwashed and crumbling

How Western society is brainwashed and crumbling

"The cultural embrace of illusion, and the celebrity culture that has risen up around it, have accompanied a growing system of casino capitalism, with its complicated and unregulated deals of turning debt into magical assets, to create fictional wealth for us, and vast wealth f

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Will we see double digit interest rates from the 1980s?

Will we see double digit interest rates from the 1980s?

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." -- Thomas Jefferson Spending is

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Greenspan: credit crunch “by far the greatest financial crisis”

Greenspan: credit crunch by far the greatest financial crisis

Greenspan said that while the economy was in worse shape in the Great Depression, the recent financial crisis was potentially more harmful than that in the 1930s because “never had short-term credit literally withdrawn.” Greenspan just said that the current credit crunch

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bales of money union workers get over private sector

“With the federal deficit and national debt heading into the stratosphere, taxpayers can no longer afford to support such lucrative government compensation. Public sector pay and benefits at all levels should be reduced to make it comparable to the wages and benefits earned by the average working taxpayer.” It wouldn’t be too hard to fathom [...]

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henry paulson goldman sachs executive

“Goldman Sachs are scum– that’s the bottom line. They have basically co-opted the government; they’ve co-opted the Treasury Department; the Federal Reserve functionality; they’ve co-opted the Obama administration. Barack Obama dances to Goldman Sachs tune.” — Max Keiser Just remember, Hank Paulson [former CEO of Goldman Sachs then Secretary Treasury USA] took Congress hostage– took [...]

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greedy edward jones financial advisor

Financial advisors are the clowns who are making huge profits off of your money no matter which way the market goes. A very small percentage of these “professionals” could not even predict the crash which happened (it was easy to see coming because of de-industrialization). Now they are pushing for investors to throw more into [...]

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government motors bailout tarp funds fake repayment

“Treasury has merely exchanged a legal right to repayment for an uncertain hope of sharing in the future growth of GM, Grassley wrote. A debt-for-equity swap is not a repayment … In a hearing Tuesday before the Senate Finance Committee, TARP overseer Neil Barofsky confirmed that GM was using Treasury funds to make the loan [...]

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lost youth will blog for food holding signs

“spells of unemployment while young often create permanent scars through its harmful effects on a number of outcomes — happiness, job satisfaction, wages and health — many years later. Moreover, spells of unemployment tend to be particularly harmful to the individual — and to society — when the most disadvantaged youth become unemployed. This involves [...]

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economist at street sign is unsure of recession

Looking at economics as a discipline, it would be fair to point out some of the issues with what mainstream, government economists are saying. To begin with, no economic model can predict the future. Economists who do try to predict the future are as likely to be right as Helicopter Bernanke. They are a discredit [...]

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american dream is over protestor holding sign

Our world has changed and most do not realize it. Money, the almighty purveyor of our well-being has absolutely no value unless someone says it does. It used to be tied to gold, a tangible physical element. You could not print more money unless you had gold to back it. However, in 1971, the US [...]

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imf world bank many poor banner

“”The high degree of financial stress and the high degree of uncertainty all weigh against a speedy recovery in job creation,” the Washington Post quoted the IMF as saying.” “Unemployment in industrialized countries will likely remain high this year and next, and central banks should keep interest rates low, the International Monetary Fund said Wednesday. [...]

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greenspan as a lizard

“Greenspan, as the macro economic parent of the US Fed’s basic approach, is the most easily visible part of the history. He’s not the sole agent, however, of a culture which was basically raised to steal and misrepresent assets” — Paul Wallis This is all so ridiculous! Most of these people grilling Greenspan don’t even [...]

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unemployed empty pockets

“don’t forget the difference between U3 (steady at 9.7%), U6 (rose to 16.9%) or even John Williams’ SGS Alternate, which presumable has stayed near 22%. + 162,000 may be the best number in three years” Statistics rarely show the truth of reality. They can be twisted and manipulated as however the person using them wants. [...]

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HC Dominic Cacipoli

“”By working and knowing it wasn’t steady, and it wasn’t going to last long, I cut my own throat,” said Krawiec, 60, of Plainville.’ Unemployment benefit extensions are nice, but to the unemployed it offers little hope, what they would like to hear is how the government is going to restore the jobs that the [...]

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house for sale sign

The longer the government continues to distort the underlying economics of the real estate market, the longer it will take for the sector to heal itself – and the longer the sickness will infect the broader economy. The United States is in a very precarious situation. Obamarama needs the Fed to print up another 1.9 [...]

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greece bankrupt poster man in background

The key driver for state bankruptcy and currency collapse is the amount a country owes or is liable to foreigners The only reason that people who work for a living support a government is that they expect their government who collect a percentage of their incomes through payroll deductions expect their government to provide them [...]

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obama care blue glove war poster

“Who thinks they’re entitled to medical treatment that somebody else should pay for? Who Pays? Government? Where do they get the money? The government is already stiffing the doctors on Medicare patients- Who will continue to work without being paid? It’s a downward spiral gaining momentum. ” — Politico Commenter One thing needs clarification. Why [...]

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