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

fallout cloud to USA

“California is closely monitoring efforts to contain leaks from a quake-damaged Japanese nuclear plant, a spokesman said Saturday, as experts said radiation could be blown out across the Pacific.” Our deepest sympathies to the Japanese people, but the Japanese government must be held accountable for the massive cover-up and mismanagement of the nuclear crisis. It [...]

(1 votes, average: 5.00 out of 5)
Loading ... Loading ...

“The fuel price hike – which protesters were calling the “gasolinazo” – caused the cost of transport to soar, and pushed all food prices up.” — BBC News Bolivian President Evo Morales has rescinded a decree which raised fuel prices by more than 70% and sparked civil unrest. Mr Morales reversed the price rises introduced [...]

(1 votes, average: 5.00 out of 5)
Loading ... Loading ...
zimbabwe hyperinflation

“In the US we don’t have a back up system. Zimbabwe had the worst hyperinflation anyone’s ever seen. But, they survived. They had an ongoing economy. That was because of a black market in US dollars. We don’t have a black market in the US. There’s no backup to our system.” — Mac Slavo, Market [...]

(3 votes, average: 4.00 out of 5)
Loading ... Loading ...
chertoff lenin lookalike

“Rep. John J. Duncan Jr., former Chairman of the House Aviation Subcommittee and the current top Republican on the House Subcommittee on Highways and Transit, blasts TSA’s invasive “pat downs” during a speech on the floor of the House of Representatives on November 17, 2010. Duncan also questions the role of lucrative government contracts in [...]

(No Ratings Yet)
Loading ... Loading ...
house of 20 dollar canadian bills

“The economist who received an award for being the first to sound the alarm on the U.S. housing bubble, is warning the same could happen in Canada if we aren’t careful. Dean Baker with the Centre for Economic Policy and Research says housing prices here might collapse if interest rates rise by about two percentage [...]

(No Ratings Yet)
Loading ... Loading ...
hyperinflation photo silver coin investor

“There might not have been a second round of quantitative easing, if Federal Reserve Chairman Ben Bernanke shopped at Walmart. A new pricing survey of products sold at the world’s largest retailer showed a 0.6 percent price increase in just the last two months, according to MKM Partners. At that rate, prices would be close [...]

(No Ratings Yet)
Loading ... Loading ...
globalization unified or end

“A “grave recession” in the world economy may lie ahead, with a profusion of new barriers to trade and capital flows, if the Group of 20 major economies (G20) fail to come up with solutions to the present crisis. The G20 will probably begin to suffer “progressive fragmentation” at its Nov. 11-12 summit in Seoul, [...]

(No Ratings Yet)
Loading ... Loading ...
bernanke confused dollars

“Leaders of 20 major economies on Friday refused to back a U.S. push to make China boost its currency’s value, keeping alive a dispute that raises fears of a global trade war amid criticism that cheap Chinese exports are costing American jobs.” — MyWay News The G-20′s failure to adopt the U.S. stand has underlined [...]

(No Ratings Yet)
Loading ... Loading ...
greenspan oops

“If we end up 12 months from now with countries taking protectionist measures, everyone will suffer. I think the absolute imperative for this weekend [at the G20] is a clear demonstration that every member of the G20 recognises that the imbalances are a problem . . . If we don’t do that then I fear the next 12 months [...]

(No Ratings Yet)
Loading ... Loading ...
darling lets get deeply into debt

“Over the past 15 years, the volume of outstanding mortgages has increased by 194 per cent. “There is a sizable minority, about 350,000 out of 5.65 million, or about 6 per cent, who would be challenged by rate rises of less than 1 per cent, and a further 225,000 (5 per cent) have thresholds in [...]

(No Ratings Yet)
Loading ... Loading ...
gold silver bullion bars

“Gold futures rallied to a record over $1,380 an ounce Thursday, and silver futures rocketed more than 6%, after investors piled into precious metals as a hedge against the sinking U.S. dollar after the Federal Reserve rolled out a new, $600 billion of extraordinary stimulus measures to prevent deflation.” — Marketwatch There are those who [...]

(No Ratings Yet)
Loading ... Loading ...
flushing money down the toilet

“”The Fed’s best hope seems to be trying to convince investors that short term interest rates are going to remain lower for longer than they currently expect or that inflation is going to be higher. The most likely outcome is that the Fed will buy $500 billion of Treasury securities over the next six months [...]

(No Ratings Yet)
Loading ... Loading ...
laurence kotlikoff

“Prof. Kotlikoff says: “The IMF is saying that, to close this fiscal gap [by taxation], would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes.” National debts are not a nation borrowing against its future success. They are a benefit for a current generation to [...]

(No Ratings Yet)
Loading ... Loading ...
chinese yuan us dollar inflation

“Rampant issuance of dollars by the United States is saddling China with “imported inflation”, Chinese commerce minister Chen Deming was quoted as saying by state media on Wednesday.” Too many people are using credit to subsidize lives eroded by job losses and working lower paying jobs as more of their old jobs/economy went to communist [...]

(No Ratings Yet)
Loading ... Loading ...

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. "