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

Read More

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

Read More

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

Read More

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

Read More

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

Read More

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

Read More

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,

Read More

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

Read More

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

Read More

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

Read More

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

Read More

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

Read More

Content By: The Coming Depression Editorial Staff (dates cited below)
Copyright: include link to this article on top of reproduction if you use it.
Bookmark and Share
(No Ratings Yet)
Loading ... Loading ...

joe biden smiling idiot

Vice President Joe Biden gave a stark assessment of the economy today, telling an audience of supporters, “there’s no possibility to restore 8 million jobs lost in the Great Recession.” — CBS News

Appearing at a fundraiser with Sen. Russ Feingold (D-Wisc.) in Milwaukee, the vice president remarked that by the time he and President Obama took office in 2008, the gross domestic product had shrunk and hundreds of thousands of jobs had been lost.

“We inherited a godawful mess,” he said, adding there was “no way to regenerate $3 trillion that was lost. Not misplaced, lost.”

Claims for jobless benefits fell by the largest number in two months last week, but were still high enough to signal weak job growth. Meanwhile, the Senate on Thursday failed to pass an extension of unemployment benefits.

Biden said today the economy is improving and noted that in the past four quarters, there has been 4 percent growth in the economy. Over the last five months, more than 500,000 private sector jobs were created.

“We know that’s not enough,” the vice president said.

Last week the White House put out a Recovery and Reinvestment Act update claiming that between 2.2 million and 2.8 million jobs were either saved or created because of the stimulus as of March 2010. In signing the Recovery Act into law on Feb 17, 2009, Mr. Obama said the measure “will create or save 3-and-a-half million jobs over the next two years.”

Looking at recent history, say the last fifty years, one would wonder how it was possible that organizations like the International Monetary Fund and the World Bank under the shadow of organizations like the Trilateral Commission, the Council for Foreign Relations, and the United Nations could systematically put Third world countries, one by one under financial control by lending them vast amounts of money, knowing that they could not ever pay it back.

Subsequent loans came with conditions of allowing these organizations to control infrastructure, healthcare, agriculture, mineral extraction, fresh water resources, etc. basically landed control of these third world countries in the hands of these organizations. The next step was to deal with the First world nations, China, Russia and the communist block. It is apparent what happened with the Communist block. Observe what has happened to Europe and North America. We now know where the money is coming from, the US Federal Reserve prints it up. Who is in control of these organizations, who owns the Banking Cartel, the Energy Cartel, the Pharma and Chemical Cartels, the Argri-Cartel? It seems that the same people are behind it all.

Manufacturing and industry has been grossly reduced in first world nations, without good paying jobs, there is no strong economy. People with education will be working for government backed organizations, health care, education, civil services, security etc and the rest of the masses will be lucky to get a low paying McJob. Remember, the food production, energy production, and basic necessities will always form a low level economy. People need the basics to survive. We have seen the peak of the middle class in First World countries. And you say there is no conspiracy?

Related posts:

  1. 8 million jobs lost, many foreverThe nation’s working-age population grows by about 150,000 people a month. So the hole is deeper than it looks. It would take the creation of 10.6 million jobs immediately for...
  2. 263,000 "jobs lost" and unemployment rate up to 9.8%Headlines: 263,000 “jobs lost” and unemployment rate up to 9.8%. That’s not good – there goes the “second derivative” argument. Weekly earnings are also down by $1.54, which is bad...
  3. Stimulus jobs overstated by thousands; Government calls it error“In politics, nothing happens by accident. If it happens, you can bet it was planned that way.” –Franklin D. Roosevelt The Republican bailout has done its job. Executives, and other...
  4. US VP Biden Confirms USA entered depressionBut the problem is particularly acute in Michigan, which has lost 231,000 auto and parts manufacturing jobs. That is 72 percent of the 320,600 auto-related manufacturing jobs the state had...
  5. Government stimulus jobs called calculator abuse“We (the United States) tax everything that moves and doesn’t move ..” — Quote from Senator Hillary Clinton. The house of cards is beginning to fall. The numbers and optimism...
  6. Obama Loses 2016 Olympics, 5 Million American JobsLooks like Obama is going to have a lot of explaining to do… By LaRouche Political Action Committee Excerpt Obama is in full retreat from Copenhagen. “Everything is going wrong...

This entry was posted on Sunday, June 27th, 2010 at 8:42 pm and is filed under Deindustrialization. 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.

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.


Under the 'fair use' rule of copyright law, an author may make limited use of another author's work without asking permission. Fair use is based on the belief that the public is entitled to freely use portions of copyrighted materials for purposes of commentary and criticism. The fair use privilege is perhaps the most significant limitation on a copyright owner's exclusive rights. "