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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tent city usa

“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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job less hands newspaper

“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 [...]

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arnold signs paperwork

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, [...]

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us cities underwater mortgages

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 [...]

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will program for food

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 [...]

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alan greenspan wanted for economic collapse

“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 [...]

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obama is the mack daddy of liars

“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 [...]

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will program computers for food

“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 [...]

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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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haiti earthquake

“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 [...]

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sucre alba new currency

“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 [...]

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hauling house away

“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 [...]

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mortgage meltdown war next

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 [...]

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the television is lying to you

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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