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)
Copyright: include link to this article on top of reproduction if you use it.
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unemployment rising

“The small amount of job gains during the past few months not only reflects the response to slow output growth, but also a lack of confidence going forward,” said Bart van Ark, chief economist at the Conference Board, a business research group based in New York. “The economy as a whole has been weakened by a dismal housing market and slow consumption, which especially hamper small- and medium-sized enterprises.”

UNEMPLOYMENT RISES;9 PERCENT PLUS; ANEMIC ECONOMY Associated Press

The unemployment rate rose to 9.6 percent in August from 9.5 percent, as the nation lost 54,000 jobs. Private employers added a net total of 67,000 workers, but 114,000 temporary census jobs ended.

Job creation by private companies is too weak to reduce the unemployment rate anytime soon. Unemployment has been 9 percent or higher for 16 months, nearing the record of 19 months, set during the 1982 recession and recovery.

Without more job growth, personal incomes won’t grow by much. That will limit consumer spending, which fuels 70 percent of the economy.

When will you be losing your current job?

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Green shoots are pipe dreams

“All wealth is created by making something from nothing.” Comes from an economics text book from the ’60s

In practice that means using our natural resources to make the things we need and want. Whether it be state or private sector, that is how it is done. That is what the Asians are doing with a lot of success, and it is what we are not doing nearly as well anymore since the green guilt trip has blocked so many people’s minds.

predicted 2010 unemployment rate

Generally it is the resource and manufacturing sectors who create the wealth, followed by the private service sector who support the resource/manufacturing sector. Government is a wealth re-distributor of wealth for the most part, and a net drain on the economy.

That is why the green thrust to shut down our resource industries is so potentially devastating to all of us. If you accept the green philosophy, you should not lament the country’s dismal economic performance. It is comical to listen to you blame the government and big business for all the shut-downs and hardship you cause to the rest of us.

Unemployment benefits benefit no one in long run

The argument politicians use for extending and increasing unemployment benefits is that its good for the economy, because these people will spend this money right away on goods and services. In reality, its all political

Their argument, if thought out logically, does not make any sense. If it did make sense, wouldn’t the government give each citizen a cheque for 1 million dollars? Wouldn’t that “stimulate” the economy?

The fact is that by taxing economic activity (people who work and businesses) to pay for people who do no work might provide a short term increase in demand in the economy, but those costs will have to be paid in the future through higher taxes or an inflated currency. It does not increase economic output. This inevitably leads to higher debts and countries inflating their currency to pay off these debts (Germany circa 1920s, Zimbabwe circa 200′s). Both were failed outcomes.

The government paying me to run around the block (or sit at home and collect unemployment) does not produce a good or service valuable to society. All it does is lower economic output on a macro level scale.

It is too bad no one is asking politicians the right questions, such as “Mr. President, if extending unemployment benefits increases and stimulates our economy, why doesn’t your government give each citizen a cheque for 1 million dollars”? Would that be the ultimate implementation of your economic theory and stimulus for our economy?

The economic “elites” are begining to wake up to the fact that teh damage they have done will effect them too. The American working class has not had a real increase in pay since 1979 when auto worker pay (the nations high standard measure) peaked at a then $20 per hour.

Since then the “elites” sold the working class a pile of illusions that are evaporating and taking the economy with them. Square footage of average houses doubled from an already high 1700 sq.ft. to over 3500 sq. ft. on a new home.

The fact that the homes were made of pressboard, wrapped in Tyvec weatherproofing paper and covered with cheap vinyl siding didn’t prevent the banks financing the speculative bubble.
Technology, cheap imports, loose credit, advertising and political manipulation were used by these “economic elites” to keep the workers from realizing their growing plight.

With their bursting illusions of secure retirement, increasing value of real estate investment and advancing employment possibilities, American workers are depressed, confused and fearful. “Economic elites” and their political minions are attempting every possible angle to find someone or something to blame; someone to blame, that is, besides the ones actually at fault, the “economic elites” who stole nearly half the national wealth for the top 1% of “elites” or “thieving garbage” depending on your point of view.

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