Your number one source for news about the coming economic depression

A plan in the works to save money in Concord, Massachusetts. Residents can keep their lights on, but they’ll have to pay a monthly fee. It’s become a hot topic in the town of 17,000. David Ropeik: “Government can’t afford now the basic kinds of things that we thought government basically did.”
It’s no wonder [...]

Food staples like rice nearly tripled in six months and at times increased 50% in just two weeks, primarily because of record oil prices and a weak dollar in 2008.
Presumably the rise in cost is due to the balance of supply and demand. Presumably too, the rise in production of biological fuels and other [...]

“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 them [...]

“Now we know that January 25th is the date that the state of California has decided to begin jeopardizing public safety with no perceivable financial benefit,” said Weber

The justice system is profit driven and thus wholly corrupt. The problem exists not only in California but throughout the nation. California only escalated their woes by creating [...]

“It was the greatest party in the history of the world, but now the party is over. The following are 11 signs from just this past month that show that the U.S. economy is headed into the toilet and will not be recovering.”

Just think of what would happen when the soldiers who are in [...]

American households have lost $11 trillion in wealth since the peak in the bubble.

Below are some highlights from an article by My Budget 360. NOTE the $11 TRILLION DECLINE IN MAIN STREET WEALTH vs. how the Banksters are doing! Budget 360 is the same source that identified the great divide between Wall Street and Main [...]

“You’ve got to have someone in the store, and if you’re down to one person in the store, you can’t cut any more.”

The question is not whether a low growth of 0.1% a quarter signals the end of the recession or not. It is whether the leaders of major financial companies and automobile industries have [...]

..the FDIC is contributing to the deflationary trend. It has “tightened rules on required capital levels,” which forces banks’ loan ratios to fall.

The FDIC Anesthesia Is Wearing Off
November 20, 2009
By Robert Prechter
The following article is an excerpt from Robert Prechter’s Elliott Wave Theorist. For more information from Robert Prechter on bank safety, download his free [...]

“The day they decide to float their currency you are going to get huge reversals of financial flows around the globe, which will affect all exchange rates, that’s why I compared it to a tsunami,” Costello said.

There’s nothing strange about wanting China to bear its share of a burden that the Western world is already [...]

The first citation in the article below, from Kapoor and Schaumbug, hits the nail on the head. This is one of the best articles that explains the whole issue of pay, and supply and demand of labor and productivity with the introduction of China and other Asian economies in the World Trade Organization over the [...]

“You know, it doesn’t take a rocket scientist to figure out that if you keep borrowing and borrowing in order to consume now, eventually you crash and burn,” said Martin Eakes, chief executive for the Center for Responsible Lending.

Credit cards are an integral part of our entire society. Everything from on-line purchases, subscriptions, hotel reservations [...]

“The International Forecaster, Bob Chapman, says that A New System For The Privileged Is Not A Remedy For The Economy.”

The current financial crisis in the US and around the world was not a failure of capitalism, but an intentional looting of the world financial system by Illuminist crony fascism sheep-dipped in capitalism. The old [...]

“The balance of power in negotiating a lease or renegotiating a lease in some areas is now with the tenant,” said Janet Portman.

Our sad economic times force us to rent properties that are not getting an acceptable sale price. This is not good for sellers, but desirable for tenants. Just keep in mind that tenants [...]

“It’s one of the largest losses we have forecasted for an individual loan,” says Steve Kuritz.

Dr. David Bronner, CEO of the Alabama Retirement Systems, the 43rd largest investment fund in America, spoke at Rotary Club here yesterday. He is one of the most respected fund controllers in the United States today by his peers.
1) Next [...]

“I am absolutely concerned,” Donegan said.

The day the masses were fearing would never appear seems have just materialized by the reality of the giant tiger on the other side of the world beginning to awaken. Since 1994 China has pegged its currency to the US dollar in attempts to siphon manufacturing and industrial bases from [...]

“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 from the White House is unsubstantiated. This morning during Obama’s address he stated there will be even more job losses. These are the first truthful words [...]

“We recognize these are tough times and more people are food-stamp-eligible,” Costco Chief Financial Officer Richard Galanti

It is concerning that food stamps can be used in a store that requires membership fees. While it is commendable to believe that people should be able to get the most for their money in terms of price paid [...]

“Forecasters predicted a higher reading of 53.1. A reading above 90 means the economy is on solid footing. Above 100 signals strong growth.” — Ashley M. Heher, AP Retail Writer

Instead of a white Christmas — a term coined to the holiday season and day of Christmas when snow covers the ground — may [...]

When Hong Kong was returned to China by the British, millionaires escaped and heavily invested in real estate in Australia and that was the beginning of the bubble in prices for goods. It never went down and also helped the Japanese build a strong yen against the US dollar. Basically the US government [...]

It is time to consider the fact that there is a comet head of our economic progress and nobody wants to address. Everyday, reporters, politicians, analysts tell poulations that the recovery is underway and that “Green shoots” are taking hold when it is obvious there is catastrophe awaiting and hidden under our noses.
The media [...]