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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federal_reserve_global_tentacles

“We’re talking about huge sums of money going to bail out large foreign banks,” said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that required the Fed disclosures. “Has the Federal Reserve become the central bank of the world? I think that is a question that needs to be [...]

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bank bailout ireland

“Allied Irish Banks announced Friday it has lost a staggering euro13 billion ($18 billion), or 17 percent, of its total deposit base since June in the latest evidence of cash flight from Ireland’s debt-crippled banking sect.” As a result, the bank said it now planned to try to sell euro6.6 billion ($9.05 billion) in new [...]

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street lamps mass

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 [...]

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artificial scarcity fruit stand empty

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 [...]

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henry paulson goldman sachs executive

“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 [...]

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arnold happy releasing prisoners

“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 [...]

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us economy in toilet

“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 [...]

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thief running with moneybags

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 [...]

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rioting in streets

“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 [...]

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no cash value coin

..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 [...]

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chinese factory worker

“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 [...]

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china slaves

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 [...]

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debt credit card

“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 [...]

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bank run indymac

“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 [...]

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