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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Content By: The Coming Depression Editorial Staff (dates cited below)
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marx karl
Business lobbies and corporate groups have long touted the benefits of free trade, but what is it that they do now know, or do not want the general public to know? Indeed, while academia and business praise the merits of Adam Smith and his idea of “Free trade” as practiced by the British East India Company some 200 years ago, we are often not told that Karl Marx adopted much of his economic philosophy from Adam Smith.

Shockingly, and in a twist of irony, business praises Adam Smith as the hero of modern economics, but strangely omit or forget the communist revolution that Karl Marx helped spark. What Marx said in short was that “free trade” was one of the ultimate ways to create a one world communist world government. As we can see today, “free trade” in theory according to textbooks would work fine if it weren’t for multi-national corporations and international agreements and organizations like the World Trade Organization.

The recession could put brakes on free trade

By SAM FLEMING of Dailymail

Stop meddling in the free market. Not the sort of admonition you’d expect to hear from the People’s Republic of China, but this came from the admirably straight face of one of Beijing’s top trade officials, Yu Jianhua of the Ministry of Commerce.
Speaking in a packed room at one of Pittsburgh’s numerous Marriotts, he was responding to calls by the UK and US for China to boost its imports and contribute more to world demand.

Issuing such demands is an impingement of free flows of trade, he said piously. China likes to let the markets work for themselves.

This is, needless to say, poppycock. China’s government remains intimately involved in its quasi-capitalist system – not least via its control of the banking sector, pervasive Party influence in key industries, and its suppression of the yuan’s value against the dollar.
But this sort of sniping tells you something about the dialogue behind the scenes at Pittsburgh. While Gordon Brown hailed a ‘new system’ of cross-border cooperation, the G20 is more deeply divided than ever – and trade is one of the biggest sources of friction.

Read the Full article at The Daily Mail


Excerpt


Indiana affected by “free trade” dispute with China

By Marty Schladen and Jenni Glenn of Journal Gazette

A trade dispute with China over tires and chicken hits closer to home here than in most other regions.

Indiana is among the top states in per-capita production of export products. And many of the top products exported to China – electrical machinery and equipment and aircraft and spacecraft equipment, for example – are made in northeast Indiana, said Michael Hicks, director of Ball State University’s Bureau of Business Research.

A growing trade dispute, he said, could threaten those exports.

Hicks and some others see U.S. tariffs as a blow to free trade. But area supporters say it is the fair use of a rule meant to protect U.S. markets against a partner whose trading practices have been anything but fair.

The Obama administration on Friday imposed a 35 percent tariff on Chinese tires for cars and light trucks after a bipartisan commission ruled the imports had disrupted American markets, costing thousands of jobs. In response, China threatened to retaliate against American exports of chicken meat and auto parts, leaving some to fear the prospect of a trade war.

Original full article available at Journal Gazette


From gonewiththeworld.com

One of the reasons that the Great Depression of the 1930′s was so severe is that when times grew tough after the stock burst of 1929, nations reduced trade with each other in order to protect their own industries and workers. This cycle spiraled out of control, leading to horrible economic conditions for many nations, including the US. These desperate conditions were a major catalyst to Hitler’s rise and Word War II.

Free trade proponents will argue that this is evidence that wide-open trade is good. However, it is really evidence of the opposite: The more you depend on other nations, the more their problems become your own. I am not for shutting off all trade, but rather having balanced trade. Balanced trade is where enough foreign trade is allowed to promote diversity and competition, but not enough to eliminate entire national industries and professions.

http://www.gonewiththeworld.com/

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