Your number one source for news about the coming economic depression

Batts said the 80 officers slated to be laid off – mostly new officers – are “pretty sad and pretty depressed,” and those feelings are shared by the Police Department as a whole.
Sadly during the coming economic depression we’ll be seeing more and more of our men in blue being laid off to [...]

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 [...]

“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 devaluing it (printing more than it’s worth) and giving [...]

“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 economic indigenisation regulations. “Zimbabwe has no elected government. The coalition government has failed to implement the [...]

“The Bank of Montreal has been hit by a huge mortgage fraud in Alberta that may cost it $30 million, a report said. The bank is suing hundreds of people in connection with the scam, including lawyers, mortgage brokers and four of its employees, CBC News said, citing legal documents.”

The case may be the [...]

“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 for our elite. Corporations, behind the smoke screen, have ruthlessly dismantled [...]

The whole “cut them loose” argument regarding Greece’s gargantuan moutain of debt and its inability to pay the interest is ignorance. Looking back in recent history (2002 to present) when Argentina defaulted on its mountainous debt, 20 percent of the Italian pension system went with it and hundreds of thousands of Europeans lost a significant [...]

“If we don’t do it, you know this whole city is going to go down. I’m hopeful people will understand that,” Bing said. “If we can incentivize some of those folks that are in those desolate areas, they can get a better situation.”

Detroit Mayor Bing emphasizes need to shrink city
Mayor says it’s not ‘an easy [...]

“This year we will continue to control the pace and demand of the credit supply,” Mr. Liu said at a conference in Hong Kong. All banks, he added, had been ordered to “heighten their vigilance against an impossible, embedded credit risk.”

For about a year now, China has been giving signs and exerting influence on world [...]

How do these nine politicians keep the exchange rate low? They buy U.S. dollars. Importantly, these nine men don’t just sit on stacks of dollar bills… They invest those dollars in U.S. Treasury bonds.

China wants to take advantage of the global economy, but refuses to play by the rules. If they do not trade fairly [...]

Crackdown: China has stepped up efforts to halt the explosive growth in credit.

China is seriously harming Western economies and a number of local jobs at the same time promoting the sub standard pay to their own people with very poor quality control and safety only to ensure growth is sustainable; this is a very sick [...]

Nearly 12 years of incompetence of this government’s work and the cracks show in the economy of the United Kingdom, but we should lay the blame where it started: Margaret Thatcher! She began the destruction of the manufacturing base of the United Kingdom, deregulation of the financial system, backed by the oil economy of the [...]

Are we nearing a tipping point as rapacious elites push a heavily armed populace too far?

“A government afraid of its citizens is a Democracy. Citizens afraid of government is tyranny!” — Thomas Jefferson

The british are close to a “ruled” people because of their tolerance. Americans are irritated, as they have less tolerance for government [...]

“The public has lost all confidence in your ability to the do the job, and it is reflecting on your president.”

Geithner and his Wall Street government insiders know exactly what they are doing and that is protecting their corrupt friends at the top of Citi, AIG, Goldman Sacks, and Bank America — the top recipients [...]

“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 [...]

“It’s a horribly complicated system, and most people didn’t pay attention,” Mr. McDermott said of the need for quick Congressional renewal.

Too bad the sheep still “don’t get it” because what we are witnessing is a process that started some time ago — the elimination of the middle class throughout the world (redistribution of the wealth…. [...]

“.. 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 DEADLY plague could sweep across Europe, doctors fear, after an outbreak of a virus in Ukraine plunged the country and its neighbours into a state of panic.”

Flu may become major drag on growth
By Kim Yoon-mi Korea Herald November 15 2009
The spread of the H1N1 flu is likely to dampen Korea’s chances of achieving positive [...]

“For the first time in at least six decades, private sector employment is negative on a 10-year basis (first turned negative in August). Hence, the changes are not merely cyclical or short-term in nature.”

An economy can’t survive without manufacturing and right now people are making everything off-shore and then selling it back to us at [...]

“Washington is doing everything in their manpower, capability, to destroy U.S. manufacturing,” Farr said today in Chicago.

How long will it take for Americans to realize they’ve been had by their own corporations? US jobs are not coming back because the factories will not re-open, because those factories are now in communist China. This did not [...]