Canadian banking haven myth exposed

Canadian banking haven myth exposed

"One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks." The sorry spectacle of Conservat

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Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

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E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

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US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

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Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

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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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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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Content By: The Coming Depression Editorial Staff (dates cited below)
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chart gdp depression

“.. people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession,” he said.

Interest rates are market driven. The Fed is simply following the market in determining rates. The low rates indicate that money demand is very low; it is a sign of a very weak economy. A more effective stimulus is needed to stimulate the economy, which is lower prices for everything, which by definition is a depressed price. Depressed prices in this economy is very good and healthy for the economy. Prices would decrease to meet demand and people could buy and sell at a faster rate than prices are rising again due to increased demand. Bailouts of banks are not natural — they distort the economy and the banking system. For example, when a bank needs to lock on a home because the borrower does not pay, the bank should be excluded and to sell the house as quickly as possible for as much as possible. Enabling people to live in houses without having to pay up to two years because the government will bail them out is a distortion in the market.

It’s not about liberal vs. conservative, white collar vs. blue collar, or any of the rest of those false paradigms. It’s about a completely clueless public, and an even more clueless elite attempting to exploit the stupidity of the other 98.8% of us, and, most of all, good old human materialism and greed.

Eventually, the whole thing is going to go the way of the Roman Empire. The ones who survive (beyond the initial looting stage, anyway) will be the ones who can stop pointing fingers, put aside their differences with their neighbors (“neighbors” being defined as everyone within a day’s walk), and work together to do what needs to be done to keep themselves in water, shelter, food, and decent spirits.

That’s what made us great. Not the Federalist Party, the free market, or the Industrial Revolution. Not our material wealth, which is an illusion distracting us from what matters. COMMUNITY made America great. COMMUNITY can save America– if the people can make it happen.

Obama: Too much debt could fuel double-dip recession
Wed Nov 18, 2009 6:14am Reuters

BEIJING, Nov 18 (Reuters) – President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.

With the U.S. unemployment rate at 10.2 percent, Obama told Fox News his administration faces a delicate balance of trying to boost the economy and spur job creation while putting the economy on a path toward long-term deficit reduction.

His administration was considering ways to accelerate economic growth, with tax measures among the options to give companies incentives to hire, Obama said in the interview with Fox conducted in Beijing during his nine-day trip to Asia.

“It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession,” he said.


6 double dip warning signs
By Chris Isidore, CNNMoney.com senior writer
The recovery from the Great Recession has likely started. But many economists are worried about falling into another downturn. Here’s what has them concerned.

Most economists agree the U.S. economy is in recovery. The question is whether it will stay that way.

chart gdp depression

The economy grew at a 3.5% annual rate in the third quarter. But even with that shot in the arm, there are plenty of worries about whether the economy could topple into another period of decline, or “double dip” recession, early next year.

These concerns have some economists calling for yet another round of economic stimulus early next year to try to jump start the still struggling labor market. The fear is that if the economy heads into another downturn, the Federal Reserve and Congress will have few, if any, tools left to address the new problems.

“If we do slide back into recession, it will be very difficult to get out,” said Mark Zandi, chief economist for Moody’s Economy.com.

You can view the six key indicators at CNN Money

Related posts:

  1. World headed for second recession, or double-dip depression“When the Great Depression started after it [market crash of 1929], it’s thought that politicians actually started the Great Depression by putting through too many rules and regulations…” — CBC’s...
  2. Shock: USA guaranteed debt default says Greenspan & Guidotti“So how does America rank on the Greenspan-Guidotti scale? It’s a guaranteed default.” — Two well-known economists – Alan Greenspan and Pablo Guidotti – published the secret formula in a...
  3. Comparing 1982 to now: proof undeniable of coming depression“No other financial crisis since the Great Depression has led to such widespread dislocation in financial markets, with such abrupt consequences for growth and unemployment, and such a rapid and...
  4. 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...
  5. Economy worse than great depression: KrugmanPaul Robin Krugman (born February 28, 1953) is an American economist, liberal columnist and author. He is Professor of Economics and International Affairs at the Woodrow Wilson School of Public...
  6. Double dip really means depressionOne of the fundamental problems is that the central government, the central bank, and the commercial banking sector are the three essential components to “managing” an economy. The first two...

This entry was posted on Wednesday, November 18th, 2009 at 9:40 am and is filed under North America. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 Comment

  1. April 19, 2010 @ 2:50 pm


    [...] remaining shockingly high throughout his presidency.  And the grim scenario of a “W-shaped” recession looms larger and [...]

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