“At least once a week, you hear some Wall Streeter exulting that manufacturing is showing signs of recovery. What he doesn’t tell you is that manufacturing is less than 10 percent of the economy. He won’t mention that sickly consumer-related activity is 75 percent.” Does anyone think the standard of living that Western societies have [...]
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“A true labor market depression faced those in the bottom…of the income distribution; a deep labor market recession prevailed among those in the middle of the distribution, and close to a full employment environment prevailed at the top.” The real unemployment rate is somewhere in the 17.5% range. Actually, as it is shown in the [...]
We`re going to see many states across the country specifically california dealing with rosy predictions and forecasts brought by the govt. They said the economy was going to rise to 8.0 % unemployment if they passed the stimulus, but we see that even by the govt`phony standards, this rate rose to 9.6% . Of course, [...]
More than 11.3 million homeowners — nearly one-fourth of all Americans with a mortgage — owe more on their loan than their home is now worth, according to a report released Tuesday by FirstAmerican CoreLogic. As long as real wages for the working class decline good paying middle class jobs are outsourced for cheap labor [...]
The United Nations says that nearly 212 million people were unemployed in 2009. That is 6.6 per cent of the global workforce. According to a new report the situation in Europe will get worse before the trend improves. The analysis by the United Nations and the ILO are timely, but it would be nice to [...]
“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 bad when it’s on credit and made frivolous on non-essential [...]
“We’ve lost a couple of decades of demand in the U.S. economy because of the de-leveraging that’s happened,” Wall Street observer James Dale Davidson says. America has spent too many years focused on the service industry by design to de-industrialize the economy thus making it easier for the process of bankruptcy. It has been so [...]
“Frugality is the new fashion and likely to stay that way for years,” highlighting a secular shift toward prudence and conservatism because households are traumatized, tapped out, and mindful of a bleak outlook. The few greedy cheaters among us have been a major factor in the creation of the impression of economic growth that led [...]
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 [...]
“There must be thousands of people dead.” The West (this includes Canada & at least the USA) helped overthrow Haiti’s democratically elected government because their President wanted to actually help the people get out of poverty. Then many Western nations went along with the US in destroying the entire economy by flooding Haiti with American [...]
“Venezuela’s decision to devalue the Bolivar culminates an event that the market has been anticipating for a long time,” said Walter Molano, an analyst at BCP Securities. “It helps alleviate the country’s fiscal woes and puts it on a sounder macroeconomic footing.” The currency devaluation that Venezula implemented allows them to sustain the nominal value [...]
“They came into my home and violated my dignity,” she said, indicating she is instead seeking $200,000 and asserting it is “the memories that were taken” that upsets her most. The incident mentioned in the UPI article is all too common these days with rising foreclosures and bankruptcies exploding nationwide and throughout the Western economies [...]
It looks like Obama is continuing his work at bankrupt ACORN. The government shouldn’t have poor people to sign mortgages for the houses they couldn’t afford in the first place. What an insult to the millions of prudent home owners who bought what they could afford and made all the payments. Now they are asked [...]
In days gone by we used to have journalists and reporters instead of paid corporate shills like we have today. The old joke “thank you corporate news I’ll write what I’m told to write” is no longer a stereotype it is reality. It is becoming increasingly difficult as a result to find out the truth. Titles [...]
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