Archive for the ‘Financial Crisis’ Category

RIP — The Truman Show of Bubble Finance, 1987-2014

aa-bubble - being pricked All the Trumans – the economists, fund managers, traders, market pundits –know at some level that the environment in which they operate is not what it seems on the surface…. But the zeitgeist is so damn pleasant, the days so resplendent, the mood so euphoric, the returns so irresistible, that no one wants it to end. http://www.zerohedge.com/news/2014-03-17/rip-truman-show-bubble-finance-1987-2014


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The Coming Global Currency Reset Will Double Gold Overnight

The deviant behavior is with the Anglo enforcers though. They cannot dictate geopolitical criminality on a unilateral basis. They cannot oppose other methods between two independent nation parties for conducting trade. They cannot obstruct commerce like with natural gas pipelines and expect to remain unopposed, to escape without oil on their hands. The United States and Great Britain have become rogue leaders in defense of increasingly fascist regimes and financial systems. As a result of the hostile monetary war, the U.S. Dollar and its U.S. T-Bond vehicle are facing not simply opposition, but broad-based earnest organized initiatives to avoid them. Not to wreck them, but rather the goal is to replace them in workarounds. http://www.silverdoctors.com/jim-willie-gold-fever-coming-global-currency-reset-will-feature-an-overnight-double-in-the-gold-price/


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The Greatest Debt Crisis the World Has Ever Seen is Coming

The largest mountain of debt in the history of the world just continues to grow even larger, and everyone knows that this colossal debt spiral is not going to end well. But we all keep playing along because nobody wants the party to end. Right now, there is an unprecedented ocean of red ink covering the planet. Globally, governments have never been in so much debt, corporations have never been in so much debt and consumers have never been in so much debt. But every time someone suggests that this is a problem and that we should at least try to get debt levels to settle down a bit, people start screaming that “austerity” will hurt the global economy. And of course it will. But we can’t continue to live way, way above our means indefinitely. Well, we can try, but at some point this entire house of cards is going to come crashing down and we are going to be facing the greatest economic crisis the world has ever seen. http://www.silverdoctors.com/the-greatest-debt-crisis-the-world-has-ever-seen-is-coming/


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The Financial Meltdown, Five Years After

Just ask anyone with a positive net worth before 2008 and inquire if they still consider themselves part of the middle class. The overview of the last five-year monetary architectural plan of providing costless money to the banksters, while starving the average worker and depleting individual investment coffers, is frightening. It is a hard sell for the Treasury. Putting a smiley face on a report, when the actual results are killing Main Street, is preposterous. Thanks Larry Summers, for designing the free rein, wheeler-dealer derivative house of cards that only partially broke in phrase one. http://www.batr.org/negotium/091813.html


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Financial Calamity — It’s Coming, Be Worried, Be Careful

Famed investor Jim Rogers says, “This is the first time in recorded history all the banks are printing money at the same time. . . . This is the first time we’ve had massive debasement, and it’s going to end very badly no matter what they say.” http://www.lewrockwell.com/2013/08/greg-hunter/be-worried-be-careful%e2%80%a8-be-prepared/


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13 Reasons Why Gold Will Hit $5,000 an Ounce

The financial crisis has been a fixture since 2008 when Lehman failed. The crisis became acute when QE began, and later the hyper monetary inflation was clear as permanent. In the last several months, the perma-crisis elevated in danger level, from a skein of high risk critical extreme events. The Gold price will rise dramatically in the future from numerous powerful forces and factors. http://www.silverdoctors.com/jim-willie-13-reasons-why-gold-will-hit-5000oz/


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18 Signs That Global Financial Markets Are Entering a Horrifying Death Spiral

Of course a lot of people believe that we will never see another major financial crisis like we experienced in 2008 ever again. A lot of people think that this type of “doom and gloom” talk is foolish. It is those kinds of people that did not see the last financial crash coming and that are choosing not to prepare for the next one even though the warning signs are exceedingly clear. Let us hope for the best, but let us also prepare for the worst, and right now things do not look good at all. The following are 18 signs that global financial markets are entering a horrifying death spiral. http://www.silverdoctors.com/18-signs-that-global-financial-markets-are-entering-a-horrifying-death-spiral/


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Bullion Shortages Develop as Retail Demand Skyrockets

On Monday there was such chaos in the markets that some of the larger wholesale dealers had to shut down at various times because of the massive demand on the buy side. These wholesalers simply had to quit taking orders not only because of the demand, but also because of the enormous price volatility. Gold and silver buyers are still outpacing sellers by a stunning 50 to 1. There were premium increases on everything bullion related. The wholesalers are now telling us four to six weeks on silver maple leafs, and wholesalers quit taking orders on one ounce silver rounds. Wholesalers also kicked the premium higher on 100 ounce silver bars as well. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/16_Bullion_Shortages_Develop_As_Retail_Demand_Skyrockets.html


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Conrad

comments pertinent to the article are welcome, but not unrelated advertising -- admin

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The Savings Class is Being Wiped Out Globally

For the first time in recorded history, we have nearly every central bank printing money and trying to debase their currency. This has never happened before. How it’s going to work out, I don’t know. It just depends on which one goes down the most and first, and they take turns. When one says a currency is going down, the question is against what? because they are all trying to debase themselves. It’s a peculiar time in world history. I own the dollar, not because I have any confidence in the dollar and not because it’s sound – it’s a terribly flawed currency – but I expect more currency turmoil, more financial turmoil. During periods like that, people, for whatever reason, flee to the U.S. dollar as a safe haven. It is not a safe haven, but it is perceived that way by some people. http://lewrockwell.com/rogers-j/rogers-j181.html


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Historic Financial Collapse Coming

More than a crisis, it is more accurately described as a collapse of a corrupt inequitable monetary system, and a desperate defense by the major Western bankers to preserve their power over nations and their governments, alongside a vile vicious violent attempt by the United States to maintain its privilege as owner of the vast U.S. dollar counterfeit machinery, as controller of vast banking pillars of paper columns, and as commander of a vast military. The U.S. is about to fall into the Third World. http://www.silverdoctors.com/jim-willie-gritty-questions-on-the-historic-collapse/


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14 Signs That the World Economy is Getting Weaker

Anyone that believes that the United States (or any other major nation for that matter) is going to escape the next wave of the economic crisis is simply not being realistic. Why do you think central banks all over the world are in “panic mode” right now? They are firing all of their ammunition and printing money like there is no tomorrow in an attempt to keep the system together. Unfortunately, it is not going to work. http://theeconomiccollapseblog.com/archives/14-signs-that-the-world-economy-is-getting-weaker


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QE3 — Blowing Up the Debt Bubble

Step back and view the big historic picture. The lesson from the Roman Empire repeats with a vengeance, in the era of digital bookkeeping. Yet the “bread and circus,” food stamps and sports arena society shares the same fate. http://www.batr.org/negotium/091912.html


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Junkie Recovery

As I see it, the West’s economic depression is being directly caused by an excessive total debt burden — just as Japan’s has been for twenty years; the bust occurred on the back of a huge outgrowth of debt and coincided with the beginning of a painful new era of deleveraging. And the central bank response has been to preserve the debt burden, thus perpetuating the problems rather than allowing them to clear in a short burst of deflationary liquidation as was the norm in the 18th and 19th centuries. http://www.zerohedge.com/news/guest-post-junkie-recovery


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Morgan Stanley Faces Imminent Failure and Ruin

Begin with a preface to any meaningful that could change the entire US landscape, a redux of what happened four years ago. Consider the next Wall Street financial firm failure. It is in progress. It is not avoidable. It will have numerous ramifications. It will open the door to account thefts, the burial of documents, the ransack of undesired leveraged positions, the concealment of wrecked derivatives, and a path toward the merger of surviving (selected core) firms. http://www.silverdoctors.com/jim-willie-morgan-stanley-faces-imminent-failure-ruin-may-see-1st-private-stock-account-thefts/#more-12746


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When the Weakest Critical Part Fails, the Machine Breaks Down

When financialization fails, the consumerist economy dies. This is what is happening in Greece, and is starting to happen in Spain and Italy. The central banks and Central States are attempting resuscitation by issuing credit that is freed from the constraints of collateral. The basic idea here is that if credit based on collateral has failed, then let’s replace it with credit backed by phantom assets, i.e. illusory collateral. In essence, the financialization system has shifted to the realm of fantasy, where we (taxpayers, people who took out student loans, homeowners continuing to make payments on underwater mortgages, etc.) are paying very real interest on illusory debt backed by nothing. Once this flimsy con unravels, the credibility of all institutions that participated in the con will be irrevocably destroyed. This includes the European Central Bank (ECB), the Federal Reserve, the E.U., “too big to fail” banks, and so on down the financialization line of dominoes. Once credit ceases to expand, asset bubbles pop and consumerism grinds to a halt. http://www.zerohedge.com/news/guest-post-when-weakest-critical-part-fails-machine-breaks-down


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Jewish Supremacists Behind Financial Collapse, Says Leading Wall Street Economist

Joachim Martillo

Read this article and watch this video! It concerns the statements of a leading financial analyst Joachim Martillo, a well-credentialed economist who had worked with Israeli and American defense corporations. In this press interview he exposes the reality of Jewish ethnic networking in the financial structure and political connections that enable the theft of trillions of dollars from the world’s economy. He also shows how they network to steal trillions and also network to protect themselves from punishment for their enormous crimes. http://www.davidduke.com/?p=35375


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Why We Can All Kiss This Financial System Goodbye

The bottom line is we have a world which has been dominated by fiat currencies, and we are now experiencing the end, the final throes of that failed global experiment in a purely fiat money based system. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/22_Why_We_Can_All_Kiss_This_Financial_System_Goodbye.html


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How to Unscramble an Egg

For those of our readers who don’t understand the mess with the Euro and the pending exit from the Euro of Greece, here’s what you need to know. http://www.321gold.com/editorials/moriarty/moriarty052412.html


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Worse Than 2008

There are clear signs of a liquidity crunch in the asset markets right now, and the question I keep hearing is, Is this 2008 all over again? No, it’s worse. Much worse. In 2008 there was a lot more faith and optimism upon which to draw. But both have been squandered to significant degrees by feckless regulators and authorities who failed to properly address any of the root causes of the first crisis even as they slathered layer after layer of thin-air money over many of the symptoms. Anyone who has paid attention knows that those “magic potions” proved to be anything but. Not only are the root causes still with us (too much debt, vast regional financial imbalances, and high energy prices), but they have actually grown worse the entire time. As always, we have no idea exactly what is going to happen and when, but we can track the various stresses and strains, noting that more and wider fingers of instability increase the risk of a major event. Heading into 2012, there’s enough data to warrant maintaining an extremely cautious stance regarding holding onto one’s wealth and increasing one’s preparations towards resilience. http://www.zerohedge.com/news/guest-post-worse-2008


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Money is Fleeing the U.S. Financial System

They (investors) have been moving money dramatically from New York. You don’t want your money at a place that’s trading right now. It’s just crazy. What’s going on around the world, everybody is really concerned at practically every level and now we have MF Global, which is bringing into question the validity of the U.S. financial system. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/13_KWN_Special_-_Money_is_Fleeing_the_US_Financial_System.html


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Americans, You Are Now Bailing Out Europe

Repeating a lie often doesn’t make it true. Yet the world’s political leaders and financiers constantly refer to cancerous, unpayable debt as a “liquidity crisis.” Enough with the lies. http://www.thestreet.com/story/11327460/1/americans-you-are-now-bailing-out-europe.html


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Brockhurst

It could easily get a lot worse. According to a Wall Street Journal article I read in the Thanksgiving weekend edition, the EU central banks would like the International Monetary Fund to contribute bailout money. Since the US contributes 23% of all IMF money, this would leave American taxpayers on the hook when Greece and Portugal default anyway, with Spain and Italy likely to do so as well. The situation in Greece is particularly ridiculuous, and the national rail system there is the nation in a microcosm. The railroads pay out four times in salaries than they take in from passenger fares. In order to evade monthly salary caps for their employees, the national railroad pays them for more than 12 months a year - i.e. for months that do not exist. In spite of acquiescing to the need for austerity measures, the lazy, greedy buffoons are rioting in the streets while demanding that German and American taxpayers pick up the bill. I'll bet anything you like that the British and Swedes are currently thanking God they didn't switch to Euros! Unfortunately, if the IMF gets involved, it won't matter. The only hope is that the USA, Britain, Japan and China - non-Euro Zone members which together contribute most of the IMF's money - can keep the IMF's coffers from being pilliaged.

Incredible14U

The bailing out of Europe by US banks will collapse the US economy. All this money is borrowed. USA has billions if not Trillions tied up in toxic debt inside europe. Printing more money does not solve the problem but creates more debt for the nation/s in debt. The nation (In Europe) waiting to pounce runs/owns the ECB and won't lend. As this nation does not believe in debt. This nation waits for all the EU nations around it to collapse. Hence bringing down the UK. Most importantly all the biggest monatary and banking establishments in the USA. The economies in all these nations will be broken! Then this nation that owns the ECB will re-organise these economies at its beck and call. Since failing to win in 1939-1945 this nation having lost round two prepared from 1943 onwards to win round 3. But financially. Winning without a shot being fired! Remember the third round started when Germany and France signed the iron and steel agreement in 1953. Since then all these financially broken and defeated nations have been drawn in hook line and sinker.

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17 Quotes About the Coming Global Financial Collapse That Will Make Your Hair Stand Up

Is the world on the verge of another massive global financial collapse? Yes. The western world is drowning in an ocean of debt unlike anything the world has ever seen before, and our financial markets are gigantic casinos that are dependent on huge mountains of risk and leverage remaining very stable. In the end, this house of cards that has been built on a foundation of sand is going to come crashing down in a horrifying manner. http://theeconomiccollapseblog.com/archives/17-quotes-about-the-coming-global-financial-collapse-that-will-make-your-hair-stand-up


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Economic Collapse? We’re Soaking In It

Since the derivatives and housing market implosion of 2008, America and the rest of the world has been spiraling down a chasm some in this country still refuse to take note of. The question has never been whether there “will be” a full scale financial disaster. The end to that chapter of this story was already written years ago. Rather, the real question has been “when” will this inevitable event culminate? Sadly, speculation on the matter has met an irreconcilable road block. The fact is, all the necessary elements are in place to bring down our fiscal shelter not in five years, not in one year, not in six months, but today. That’s right — the economy as we know it has the potential to derail completely before you wake up for your morning poptart. Some skeptics might shrug off this statement as mere sensationalism for effect. I wish that were the case. Frankly, I would enjoy writing a little fiction for once. The truth is far too bizarre and disturbing lately. http://www.zerohedge.com/news/guest-post-economic-collapse-we%E2%80%99re-soaking-it


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Goodbye Greece

The best thing for the Greeks and for Europe is for Greece to be asked to quietly leave the Euro club. That’s the simple, brutal solution to the current financial crisis that is threatening to tear apart the European Union and provoke a global financial crisis. http://lewrockwell.com/margolis/margolis266.html


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LabMan

"Greece's corrupt political parties had to borrow from abroad to keep the lights on in Athens",where have we heard that before?

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The Collapse of Our Corrupt, Predatory, Pathological Financial System is Necessary and Positive

We are being throttled by the Big Lie: we’re told that if the predatory financial system implodes, we’ll all be ruined. The opposite is true: the only way to save our economy is to let the corrupt, pathological and flawed financial system implode. I was recently challenged by a contributor to write something positive, and so I decided to write about the single most positive outcome of the current financial crisis in Europe: the complete collapse of the corrupt, predatory, pathological global banking sector and its dealers, the central banks. Exploring why this is so reveals the insurmountable internal conflicts in our current financial system, and also illuminates the systemic political propaganda which is deployed daily to prop up a parasitic, corrupting, pathologically destructive financial system. http://www.zerohedge.com/news/guest-post-collapse-our-corrupt-predatory-pathological-financial-system-necessary-and-positive


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An Overpriced Market Meets the Global Economic Slowdown

Debt problems are endemic worldwide. We all know of the problems in the U.S., UK and Europe, but they extend all over the world. We are in a major financial crisis, which is as bad and will be as damaging as the credit crisis of three years ago. In fact we never exited that crisis. Debt is the problem and creating more debt does not solve the problem. http://theinternationalforecaster.com/International_Forecaster_Weekly/An_Overpriced_Marked_Meets_The_Global_Economic_Slowdon


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Europe’s Lost Decade as $7 Trillion Loan Crunch Looms

The sheer scale of Europe’s bank excesses — roughly equal to Alan Greenspan’s household bubble in America — shows what EU leaders are up against as they thrash out their latest “Grand Plan” to save Euroland. http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8830072/Europes-lost-decade-as-7-trillion-loan-crunch-looms.html


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Reckoning for the Euro

The German government is already in the process of protecting its banks and we are told contingency plans are in the works to return to the Deutschmark. The possibility of six sovereign defaults accompanies by bank failures looms in the distance. Considering the condition of other European banks, and the possibility that three major French banks may be purchased by China, we could see disruption in the global banking system. The advocates of world government wanted all world banks interconnected and now that control connectively will act as a lynchpin to possibly destroy the entire system. http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Euro_Reckoning_Amongst_Long_Term_Threats


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Why Iceland Should Be in the News But Isn’t

An Italian radio program’s story about Iceland’s on-going revolution is a stunning example of how little our media tells us about the rest of the world. Americans may remember that at the start of the 2008 financial crisis, Iceland literally went bankrupt. The reasons were mentioned only in passing, and since then, this little-known member of the European Union fell back into oblivion. As one European country after another fails or risks failing, imperiling the Euro, with repercussions for the entire world, the last thing the powers that be want is for Iceland to become an example. Here’s why. http://bellacaledonia.org.uk/2011/08/25/why-iceland-shold-be-in-the-news-but-is-not/


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Head of UniCredit Securities Predicts Imminent End of the Eurozone and a Global Financial Apocalypse

If someone knows the truth, it is the guy at the top of UniCredit, which we expect to promptly trade limit down once we hit print. Among the stunning allegations (stunning in that an actual banker dares to tell the truth) are the following: “the euro is “practically dead” and Europe faces a financial earthquake from a Greek default”… “The euro is beyond rescue”… “The only remaining question is how many days the hopeless rearguard action of European governments and the European Central Bank can keep up Greece’s spirits.”….”A Greek default will trigger an immediate “magnitude 10” earthquake across Europe.”…”Holders of Greek government bonds will have to write off their entire investment, the southern European nation will stop paying salaries and pensions and automated teller machines in the country will empty “within minutes.” In other words: welcome to the Apocalypse. But wait, there’s more. http://www.zerohedge.com/news/step-aside-bbc-trader-head-unicredit-securities-predicts-imminent-end-eurozone-and-global-finan


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The Fed Has Even More Tricks Up Its Sleeve

The Fed still has more monetary ammunition most people haven’t thought about and it lying on its books. It is the funds that belong to member banks, some $2 trillion that banks have been refusing to put to work. We mentioned the beginning of the movement of these funds from the Fed to the banks just recently. Will this persist? We do not know, but we think it will. It is a natural answer to the funding problem, they perhaps had been deliberately held in abeyance. We believe this could in part solve the liquidity problem over the next year or more. The Fed has sent the word out to the banks. It is time to employ our secret weapon. As a result in July and August we saw what is tantamount to monetary stimulus, and do not forget this is monetization, money that has not as yet flowed into the system. That means its usage will be inflationary. http://www.theinternationalforecaster.com/International_Forecaster_Weekly/The_Fed_Has_Even_More_Tricks_Up_Its_Sleeve


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Fiat Money Produces Endless Sea of Wars, Debt, Social Inequality, Economic Bubbles, Rampant Consumerism, Environmental Rape — Why Gold is the Answer

The gold standard will not cure every social ill in the world, nor will it stop all senseless wars. Nothing will. However, by now it should be clear to everyone that the current fiat system is good only for bankers, brokers, politicians, war mongers, and the already wealthy. Everyone else loses as inflation eventually eats away at what’s left of the rapidly shrinking “middle class”. All fiat currencies including the US dollar are doomed. The only debate is the path it takes to get there. http://globaleconomicanalysis.blogspot.com/2011/07/fiat-money-produces-endless-sea-of-wars.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29&utm_content=Twitter


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Unaccontable, Extremist Government in Washington Has $61.6 Trillion in Unfunded Obligations

The $61.6 trillion in unfunded obligations amounts to $534,000 per household. That’s more than five times what Americans have borrowed for everything else — mortgages, car loans and other debt. It reflects the challenge as the number of retirees soars over the next 20 years and seniors try to collect on those spending promises. http://www.usatoday.com/news/washington/2011-06-06-us-owes-62-trillion-in-debt_n.htm?loc=interstitialskip


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The Protocols of the Learned Elders of OPEC

The latest neocon nonsense: those Ay-rabs are behind the financial collapse. http://original.antiwar.com/justin/2011/03/01/the-protocols-of-the-learned-elders-of-opec/


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47 Statistics That Indicate That Economic Stress Points In 2011 Could Be Setting The Stage For A Global Economic Meltdown In 2012

Sadly, very little has changed since the world financial system experienced almost a complete meltdown back in 2008. Global financial markets are still a whirlpool of debt and speculation. One really bad week could put us right back where we were prior to the infamous Wall Street bailouts. Very little in our world is truly stable anymore. As we have seen recently in Egypt, the globe can literally change almost overnight. All it would take is for one really bad event to happen and world financial markets would instantly start imploding. So when will the coming economic collapse happen? Nobody knows for sure, but the fact that the global economy is increasingly becoming less stable as we approach the year 2012 is making a lot of people very nervous. http://endoftheamericandream.com/archives/47-statistics-that-indicate-that-economic-stress-points-in-2011-could-be-setting-the-stage-for-a-global-economic-meltdown-in-2012


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realgeorge

Many of my idiot friends and relatives, in mainstream USofA, are back fully invested in the US Stock Market, with whatever meager assets they had left from the 2008 debacle. The follow-on crash will finish them off once and for all. And I'll be the butt of double-derision from my closest contacts. They're angry at me now for being right about the 2008 crash, and daring to warn them starting in 2002. They're angry at me for not bailing them out after they got squashed in 2008. They're angry at me again for suggesting that only a non-recovery has occurred since 2008. When the big one hits again, probably in 2012, somehow, once again, as the grinchy old White Nationalist truth-teller, when they get waxed again, it will be my fault

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Waging War on American Workers

As constitutional freedoms and middle class prosperity erode, America is slowly dying. Like Rome, two empires share a remarkably common history. Both rose and prospered, then overextended, “rushed to the abyss,” and couldn’t turn back. America is on its edge. Its belligerence exceeds Rome’s. Its excesses are unsustainable. Its middle class is dying, its democracy a mere figure of speech. Today, super-wealth rules a once great nation, malignant with corruption, delusional grandeur notions, and might ideologically triumphing over right. It’s a self-destructive path harming working Americans most, especially the once vibrant middle class, targeted for destruction. Democracy depends on preserving it as a buffer against tyranny. Slowly, however, it’s suffocating and dying, and with it the remnants of freedom. http://uruknet.com/?p=m73701&hd=&size=1&l=e


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LabMan

The corporations in America decided to take back all of the gains of American workers over the last half century or so,the union busting became rampant after the air traffic controllers were fired in 1981,many companies brought in propagandists to advise the workers that they would be better off without union representation,and much of it worked. Not all unions did the best that they could for their members but at least the companies realized that they would face some sort of opposition if they did not come close to honoring contracts,and this could get in the way of earning huge profits and bonuses for management,now,with most unions gone,and jobs off shored they will make staggering profits again,as the middle class workers are kicked off the property.

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Fed Wealth Grows While Others Drown in Debt

Desperate people do desperate things and that goes for governments as well. Many governments are broke. We know about governments in Europe, known as the 5 PIGGS, then there are many in Eastern Europe, England and the US. They all are in desperate shape and that is why the US and the UK in particular are suppressing gold and silver. If they go up in value more and more people will realize something is terribly wrong. The lynchpin of the entire world financial system, the US, is broke and the US dollar is not worth the paper it is written on. The last time we looked at the forex holdings of all nations 59-1/2% was held in US dollars, which means when the dollar falls lower all nations are going to suffer. Those nations, individuals and corporations that figure out the truth through the smoke and mirrors can save what they have by dumping dollar for gold and silver. Once the panic begins it will be too late. http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Fed_Wealth_Grows_While_Others_Drown_In_Debt


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The Calm Before the Storm

An eerie calm has descended upon world financial markets as they await perhaps the two most important financial events of the year this week. On Tuesday, investors will be eagerly awaiting the results of one of the most anticipated midterm elections in U.S. history. On Wednesday, the Federal Reserve is expected to end months of speculation by formally announcing the details of a new round of quantitative easing. If either the election or the meeting of the Federal Reserve open market committee delivers a highly unexpected result, it could have a dramatic impact on world financial markets. In fact, many are looking at this week as a potential turning point for the U.S. economy. The decisions that are made or not made this week could set us down a road from which the U.S. economy may never recover. http://www.lewrockwell.com/rep/calm-before-the-storm.html


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U.S. ‘Quantitative Easing’ is Fracturing the Global Economy

Great structural changes in world trade and finance occur quickly – by quantum leaps, not by slow marginal accretions. The 1945-2010 era of relatively open trade, capital movements and foreign exchange markets is being destroyed by a predatory financial opportunism that is breaking the world economy into two spheres: a dollar sphere in which central banks in Europe, Japan and many OPEC and Third World countries hold their reserves the form of U.S. Treasury debt of declining foreign-exchange value; and a BRIC-centered sphere, led by China, India, Brazil and Russia, reaching out to include Turkey and Iran, most of Asia, and major raw materials exporters that are running trade surpluses. What is reversing trends that seemed irreversible for the past 65 years is the manner in which the United States has dealt with its bad-debt crisis. The Federal Reserve and Treasury are seeking to inflate the economy out of debt with an explosion of bank liquidity and credit – which means yet more debt. This is occurring largely at other countries’ expense, in a way that is flooding the global economy with electronic “keyboard” bank credit while the U.S. balance-of-payments deficit widens and U.S.  official debt soars beyond any foreseeable means to pay. The dollar’s exchange rate is plunging, and U.S. money managers themselves are leading a capital flight out of the domestic economy to buy up foreign currencies and bonds, gold and other raw materials, stocks and entire companies with cheap dollar credit. http://globalresearch.ca/index.php?context=va&aid=21716


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The Swelling Housing Backlog

Home ownership has become an albatross. Prices are falling, demand is weak, foreclosures are soaring, and inventory is backed up to the moon. If there’s an upside, it’s a mystery to me. Many of the people who bought homes in the last 6 to 7 years, realize now that they were caught in a massive mortgage laundering scam. The banks lured unqualified applicants into “easy-term” loans to so they could peddle their “fishwrap” mortgage paper to clueless investors. The con worked so well, that housing prices doubled or–in some cases–tripled in value. But the inflated prices did not reflect supply/demand fundamentals. They reflected fraud– industrial-scale fraud that created an $8 trillion housing bubble. Now the bubble has burst and prices are returning to trend. That means foreclosures will rise while millions of homeowners will slip deeper into the red. http://www.counterpunch.org/whitney09172010.html


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Conrad

"The banks lured unqualified applicants into "easy-term" loans to so they could peddle their "fishwrap" mortgage paper to clueless investors." Not so. The banks where forced into the business of making loans to the unqualified by the Federal Government, and the so called civil rights organizations. The unqualified where not lured, they walked in on their own power,the so called civil rights organizations made sure to inform the unqualified about the new loan structures.

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Bailouts Of Freddie And Fannie Will Bury Americans Under Unpayable Debt

The “Federal” National Mortgage Association (Fannie Mae) and the “Federal” Home Mortgage Corporation (Freddie Mac) are driving this country further into financial collapse. Since 1968, those two entities have operated as gigantic rip-offs called “government sponsored enterprises” or GSEs. Translated it means those companies are privately owned and operated (just like the privately owned and operated “Federal” Reserve Banking System). Freddie and Fannie have shareholders who are financially protected by your wallet. The sweat of your labor. The thieves in Congress gave them a line of credit which comes from the fruits of your labor. Those two corrupt operations are exempt from state and local income taxes and SEC oversight. http://rense.com/general92/bail_dev.htm


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Financial Crisis Ended the Era of Free Market Capitalism

The global financial crisis just might give those in the U.S. who advanced the idea of a “new world order” their wish – but not exactly in the way they wanted. Ian Bremmer, president of Political Risk Research, and influential economist Nouriel Roubini lay out a compelling argument in the September Institutional Investor asserting that the free-market system of capitalism has been so damaged by the recent financial crisis that the U.S., Europe and Japan face a future in which they will struggle to keep pace with deep-pocketed developing nations like Brazil, India, China and Saudi Arabia. The result could be a world in which the Western political and economic dominance that existed prior to the crisis is gone, with little hope of coming back. http://www.informationclearinghouse.info/article26336.htm


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There’s No Economic Recovery

The American public is alarmed at what they see going on. Most of them do not understand what has been done to them. The propaganda fed to them daily has them completely confused and that is understandable. They know the financial sector has been bailed out and they somehow have to pay the bill. They have been deceived and few of them want to admit it. They have been told their economy is in recovery, but improvement is nowhere to be found. Government tells them inflation is 1.6% when they know it’s certainly higher than that and has been for some time. The only beacon of light, if they can discover it, is the truth of talk radio and the Internet. Through these methods of communication the truth can be found and it is reaching all around the world. http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Claims_of_Recovery_But_Results_Nowhere_To_Be_Found


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One in Ten With a Mortgage Face Foreclosure

One in 10 American households with a mortgage was at risk of foreclosure this summer as the government’s efforts to help have had little impact stemming the housing crisis. About 9.9% of homeowners had missed at least one mortgage payment as of June 30, the Mortgage Bankers Association said Thursday. http://www.usatoday.com/money/economy/housing/2010-08-26-mortgages-foreclosure_N.htm


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The Economy When Debt is Everywhere

Greece is on the edge of revolution and well it should be. This IMF imposed tyranny should never have been imposed in the manner in which it has been, crudely. We haven’t seen the end of the Greek and euro crisis by a long shot and there is a good chance the reaction to such problems could easily spread to Spain, Portugal, Ireland and Italy. Several months ago in Greece’s largest newspaper, as well as on Greek radio and television, we predicted these results and what is to follow. The answer is to get rid of your false leadership that is selling you into IMF servitude that will last for decades. Like Spain was a military training ground for Germany in the 1930s in preparation for WWII, Greece is being used as a training ground for world economic and financial subjugation as planned by the forces of darkness in its quest for total world domination. http://www.theinternationalforecaster.com/International_Forecaster_Weekly/The_Economy_When_Debt_Is_Everywhere


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Existing Home Sales Plunge, Market Follows

It’s been 4 years since problems with subprime mortgages triggered the deepest slump since the Great Depression. Still, housing has yet to find a bottom. $6 trillion in home equity has been wiped out leaving baby boomers scrambling to make up for lost wealth so they can add to their battered retirement savings. http://www.informationclearinghouse.info/article26229.htm


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The Multi-Trillion Dollar Debt and What It Means to Your Standard of Living Right Now

Current U.S. debt stands at $13,363,228, 000, 000. This number is often broken down on a per capita basis, currently $44,000. http://www.economicpolicyjournal.com/2010/08/multi-trillion-dollar-debt-and-what-it.html


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Obama’s ‘Recovery Summer’ Hits a Snag

Barack Obama’s “Recovery Summer” tour has turned into a public relations disaster. The whole idea of claiming “mission accomplished” over the recession was wacky from the very beginning. It just shows how out of touch with reality Obama’s economics team really is. These guys need to stop pouring over their own rosy projections and get out more. The recovery hasn’t reached “escape velocity” as economics czar, Lawrence Summers boasted earlier in the year. That’s baloney. The economy is headed for the shi**er and the prospects of a another slump loom larger than ever. http://www.informationclearinghouse.info/article26223.htm


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The Economy is in Big Trouble

Policymakers at the Fed, the Treasury, the White House and the Congress now look on as the foundations of the so-called recovery crack before their very eyes. Many of their careers will undoubtedly follow the economy down the drain. As the stimulus runs out, unemployment will rise, deleveraging and debt liquidation will gain momentum, and the economy will succumb to a second vicious contraction. http://www.counterpunch.org/whitney08192010.html


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Time is Running Out for the West

The Great Recession has dramatically shrunk the time left for the big AAA states to prevent a full-blown sovereign debt crisis as their demographic time-bomb threatens, US rating agency Moody’s has warned. http://www.telegraph.co.uk/finance/economics/7950775/Time-is-running-out-for-the-West.html


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A Permanent Housing Collapse?

The housing market appears to be on a never-ending downward spiral, with the much-discussed “recovery” always around the next corner. The reasons that such a recovery is impossible at the moment should be obvious: millions of people do not have jobs; millions of others work only part time; millions more work fulltime but make very little money; and additional millions fear losing their jobs. Under these circumstances, there can be no recovery in the housing market, which will continue to contribute to the broader depression-like economy in the U.S. http://www.globalresearch.ca/index.php?context=viewArticle&code=COO20100817&articleId=20659


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15 Economic Statistics That Just Keep Getting Worse

The U.S. government cannot create real wealth out of thin air. It can borrow even more money and flood the economy with even more paper currency, but the short-term “buzz” that creates does absolutely nothing to solve our long-term economic problems. It is the private sector that actually creates wealth. But unfortunately, over the last several decades we have allowed that wealth to become highly concentrated. Now the giant global predator corporations have decided that American workers aren’t really that desirable after all. They are slowly taking away their factories and their offices and they are moving them to where people are willing to work for one-tenth the pay. http://theeconomiccollapseblog.com/archives/15-economic-statistics-that-just-keep-getting-worse


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Reinhardt

There is only one job/purpose for Americans. That is cannon fodder for the Zionist New World Order! Question is, how long can that cannon keep firing after American tax dollars run out from lack of jobs? All of the greedy corporate heads should be arrested for treason, tried, convicted, and dealt with in an appropriate manner for treason.

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Economy Teeters on the Brink

It’s just the same old, same old, business as usual in America. The Fed creates money out of thin air, uses it to keep the economy from teetering over the edge of destruction as ludicrous salaries and bonuses are collected by Wall Street Illuminists and as US consumers are deceptively informed that we have green shoots sprouting up and that recovery is just around the corner. So go out and borrow, borrow, borrow, and spend, spend, spend, so US transnational conglomerates can continue to generate their off-shore, untaxed profits to pay Illuminist salaries and bonuses for their henchmen in Corporate America. http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Economy_Teeters_On_The_Brink_and_Market_Manipulation_Continues


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Hedging Chaos With Gold

The US borrows 45% of all moneys borrowed by all governments and spends virtually that same percentage of global military spending. Beginning in 1980, President Reagan started the US on the road to financial collapse, borrowing heavily in order to fund the US military buildup, an act of fiscal irresponsibility that would later prove fatal. In his two terms, Reagan increased the US national debt by 258 %, the cost of which would be the loss of America’s economic power-base. http://www.321gold.com/editorials/schoon/schoon080510.html


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New Ruling Class Line — At Least Five Years Before ‘Human Consumer Units’ Begin Spending Again

Paul Polman, Unilever’s chief executive, says anyone counting on consumers to spend those markets out of their torpor will have a long wait – it could be five years before any significant growth returns. http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/7929136/Western-shoppers-stay-on-the-shelf.html


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Economic Warnings From Two Respected Analysts

Two widely respected economic commentators, Harvard’s Niall Ferguson and Nassim “black swan” Taleb, have offered highly pessimistic assessments of what lies ahead for the American economy. Information like this is widely ignored by investors in weeks when they have decided that nothing can stop them: they will get rich by investing in the American stock market, no matter what. On July 21, Ben Bernanke told the Senate Banking committee that “the economic outlook looks unusually uncertain.” Stocks fell sharply as soon as he gave his testimony. But the Dow Jones Industrial Average recovered at the opening bell the next day, and then rose by almost 400 points over the next three business days. There was no news that countered Bernanke’s assessment. Investors simply shrugged it off. http://www.lewrockwell.com/north/north870.html


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Home Foreclosures Expected to Top 2009 Levels

More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans. Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the more than 900,000 homes repossessed in 2009, according to data released Thursday by RealtyTrac Inc., a foreclosure listing service. http://www.dailybreeze.com/latestnews/ci_15522613


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Banks Repossessing Homes at Record Pace

Banks took control of 269,962 properties in the second quarter, up 5 percent from the prior quarter and a 38 percent spike from the second quarter of last year, RealtyTrac said in its midyear 2010 foreclosure report. Repossessions will likely top 1 million this year. “The underlying conditions haven’t improved,” RealtyTrac senior vice president Rick Sharga said in an interview. The housing market still grapples with “unemployment, economic displacement in general, and still sits on over 5 million seriously delinquent loans that in all likelihood will at some point go into foreclosure,” he said. http://news.yahoo.com/s/nm/20100715/us_nm/us_usa_housing_foreclosures


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U.S. Economy Stuck in Misery

The middle class is dead. The U.S. has produced a self-sustaining two-class society. Most Lower Class Americans are in bad or uncertain economic shape but the rich and powerful Upper Class crowd keeps making and spending money as if there has been no recession. Talk about a possible double-dip recession misses the larger reality: For many millions of Americans the first recession is still here; there has been no recovery for them. Too bad President Obama cannot comprehend that. It’s nice that 23 percent of people believe that his policies have made economic conditions better. Maybe they got the change they were waiting for. http://onlinejournal.com/artman/publish/article_6081.shtml


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More Red Flags for the Economy

Businesses and households have started to hoard and the cycle of deleveraging is still in its early stages. The winding down of the Fed’s liquidity programs comes at the same time as Obama’s fiscal stimulus begins to run out. Bank reserves are not getting into the hands of the people who will spend them and increase economic activity. These things all indicate a generalized tightening in the money supply. Soon, incomes will begin to contract and the CPI will turn from disinflation to deflation. Aggregate demand will weaken as households and consumers hunker down and increase personal savings. The financial crisis may be over, but the Depression has just begun. http://www.informationclearinghouse.info/article25879.htm


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Guess What America? Your Cities And States Are Flat Broke

Now that the economic boom times of the earlier part of the decade are over, cities and states across America are going bust. In fact, for a growing number of local governments throughout the United States, there is no getting around the fact that “flat broke” accurately describes the situation that they are facing. http://endoftheamericandream.com/archives/guess-what-america-your-cities-and-states-are-flat-broke


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Weak Economic Data Suggests There Is no “Recovery”

WASHINGTON (AP) – Fears that the economic recovery is fizzling grew Thursday after the government and private sector issued weak reports on a number of fronts.

Unemployment claims are up, home sales are plunging without government incentives and manufacturing growth is slowing.

Meanwhile, 1.3 million people are without federal jobless benefits now that Congress adjourned for a weeklong Independence Day recess without passing an extension. That number could grow to 3.3 million by the end of the month if lawmakers can’t resolve the issue when they return.

http://apnews.myway.com/article/20100701/D9GMF6SG2.html


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Suiting Up for a Post-Dollar World

There is fresh evidence that time is running out for the dollar-centric global monetary order. In fact, central banks outside the US are already making swift and discrete preparation for a post-dollar era. http://www.lewrockwell.com/orig11/browne-j1.1.1.html


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New Home Sales Plunge 33 Percent

Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits. The bleak report from the Commerce Department is the first sign of how the end of federal tax credits could weigh on the nation’s housing market. http://finance.yahoo.com/news/New-home-sales-plunge-33-pct-apf-1718773153.html?x=0&.v=1


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Deflationary Depression and Purging To Come

Small business’ contribution has been zero. Many of these businesses are failing and most cannot get loans. We expect that condition to persist indefinitely, which means job stability is nowhere to be seen in the immediate future. In spite of bogus government figures the economy is not growing and won’t grow. Unless the system is totally purged in a classic way there will never be any recovery. Sooner or later the deflationary depression and purging will come. The economy is stagnant and that is with an $800 billion stimulus program and $2.3 trillion in spending by the Fed, some of which had to have entered the economy. Just think of where we would be without both additions. http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Deflationary_Depression_and_Purging_To_Come


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The Minority Mortgage Meltdown

Minority default rates are not a minor technical issue. The volume of lending to minorities during the Housing Bubble was much vaster than is widely understood. According to the federal Home Mortgage Disclosure Act database, minorities received half of all subprime mortgage dollars nationally during the 2004-2007 Housing Bubble. At the Ground Zero of the disaster, California in 2006, minorities got 77 percent of all home purchase subprime dollars and 56 percent of total home purchase dollars. Mortgages were the fundamental units out of which the financial industry, private and public, built their pyramid schemes. http://vdare.com/sailer/100620_mortgage_meltdown.htm


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Grim Outlook for the Global Economy

I just attended a conference put on by the Dutch firm DSM in Interlaken, Switzerland that featured noted economist Nouriel Roubini, who predicted the American crash of 2008. Knick-named “Dr. Death by the media,” he warns of grim economic times ahead: deflation; rising unemployment; increased taxes; overcapacity; and negative growth. I have long agreed with his outlook. According to Roubini, for the US, the second half of 2010 will be worse than the first. US industrial capacity has fallen from 70 to 65%. Restocking depleted inventories is complete. The United States, 25% of the global economy, can’t rein in its spending or cut debt. President George Bush inherited a surplus and went on to create the biggest deficit in US history (excepting WWII). Now, President Barack Obama is making matters worse by piling on more unsustainable debt. http://www.ericmargolis.com/political_commentaries/the-view-from-istanbul.aspx


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Fiat Money and Schemes Collapsing

During the past few months the financial world and nations have been consumed with the problems of sovereign debt and so they should be. Debt is a worldwide problem, but that problem has been exacerbated by the ability of banks, brokerage houses and insurance companies to manufacture derivatives. http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Fiat_Money_And_Schemes_Collapsing


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The Next Housing Crisis

Did the Federal Reserve collude with the big banks to hold millions of houses off the market until the Fed finished adding $1.25 trillion to the banks reserves? Did the Fed do this to make it appear that its bond purchasing plan (quantitative easing) was stabilizing prices when, in fact, it was the reduction in supply that stopped prices from plunging? It sure looks that way. http://www.counterpunch.org/whitney06152010.html


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You’re Being Decieved

We’re heading over an economic cliff and there’s nothing the (puppet) government can or will do about it…except lie. http://www.infowars.com/youre-being-decieved/


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The Unbelievably Rampant Corruption On Wall Street

The truth is that the corruption on Wall Street is much deeper and much more systemic than most of us ever dared to imagine. As the general public digests these recent scandals, it is going to result in a tremendous loss of faith in the U.S. financial system. Once faith in a financial system is lost, it can take years or even decades to get back. So how is the U.S. financial system supposed to work properly when large numbers of people simply do not believe in it anymore? http://theeconomiccollapseblog.com/archives/the-unbelievably-rampant-corruption-on-wall-street


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The Euro as We Know is Dead

For Angela Merkel, leader of the eurozone’s richest country, a queue is forming of high-quality adversaries. As she tips German Geld und Gut into the furnace of a rescue package for the euro, while going it alone in a misguided ban on market “manipulators”, the brass-neck Chancellor has infuriated domestic voters, angered her EU partners (in particular the French) and invited the so-called wolf pack of global traders to do its worst.  http://www.telegraph.co.uk/finance/comment/jeffrandall/7746806/Whatever-Germany-does-the-euro-as-we-know-it-is-dead.html


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Michael C. Scott

A ban on "market manipulators" is simply code for going after currency speculators. Malaysia's President Mahatthir tried this during the Asian economic crisis in 1998 when their currency, the Ringgit started to fall. When he threatened to take the currency off international exchanges, it fell even faster as investors dumped the stuff. Political intervention in finance markets almost never works, and in fact usually produces results that are the exact opposite of what is intended.

realgeorge

The "Euro" takeover of European currencies was an ugly thing. It deserves an ugly death. Grand it will be with the return of the Guilder, the Franc, the Kroner, the Deutschmark, and the Lire. How quickly the EU is falling apart! The Brussels eurocrats deserve it. Maybe some will acutally serve prison terms for their crimes

AmericanNationalist

The collapse of the Euro, although not predictable, was inevitable. In order for America to regain her freedom and guide Europe out of its modern dark age, the European Union must be the next to fall.

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Our Sympathies To The People Of Greece

When Argentinians watch the news today and see the terrible things that are happening in Greece, we cannot but say, “Hey!! This is EXACTLY like Argentina in December 2001 and beginning of 2002!”. Then too, Argentina underwent its worst systemic banking, public debt and monetary collapse which led to social turmoil, mad violence, rioting, and social war. http://rense.com/general90/salbu.htm


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Tea Party Clueless About U.S. Tax Dollars Funding Bailout Heist

As CNBC hosts Joe Kerne and Rick Santelli pointed out yesterday, the Tea Party movement seems largely clueless about the fact that a huge chunk of the $1 trillion dollar bailout heist being pushed through to save the face of global economic governance is being funded with dollars looted from American taxpayers. Founded on the principle of keeping taxes low for the benefit of the economy, the Tea Party movement has seemingly ignored the biggest and most insidious stealth tax – inflation – which as Ron Paul highlighted yesterday, will only soar as a result of this latest bailout. http://www.infowars.com/tea-party-clueless-about-u-s-tax-dollars-funding-bailout-heist/


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Conrad

Well, you can't expect too much from them, they are clueless on the race issue too.

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The Second Leg of the Depression of the 1930s Was Caused by European Defaults

Many Americans know that the Great Depression was started by the bursting of the giant Wall Street bubble of the 1920′s (fueled by the use of bank deposits on speculative gambling, which is why Glass-Steagall was passed) , which in turn caused a run on American banks. But most Americans don’t know that the second leg of the Depression was caused by European defaults. http://www.washingtonsblog.com/2010/05/in-great-depression-second-wave-down.html


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U.S. Faces Same Economic Woes as Greece

Faber said that most western countries as well as the U.S. cannot pay for unfunded liabilities and that more sovereign defaults will happen in the future. As for Greece, Faber said the country was basically bankrupt and the EU will most likely have to bail it out. http://www.cnbc.com/id/37016321


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FDIC shuts banks in Florida, Minnnesota, Arizona and California

Regulators on Friday shut down banks in Florida, Minnesota, Arizona and California, bringing the number of U.S. bank failures to 68 this year. http://finance.yahoo.com/news/FDIC-shuts-banks-in-Fla-Minn-apf-2475780035.html?x=0&sec=topStories&pos=main&asset=&ccode=


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Frauds and Scandals Follow the Collapse of the Financial System

America’s system of finance and economy has been deliberately destroyed via regulation, illegal immigration and free trade, globalization, offshoring and outsourcing. We wrote about these issues and tactics as long ago as 1967. Taxes on both individuals and corporations are still onerous, the exception being the rich who pay far less than their fair share. By the way taxes will increase in the future and government may in the future attempt to take away your retirement plans and replace them with guaranteed annuities. We ask how can a bankrupt government guarantee anything? America and the rest of the world are realizing that you cannot live beyond your means indefinitely. The resultant poverty that eventually results is accompanied by the theft of wealth by inflation, subtly and secretly. We have witnessed over the past few years a long line of frauds that usually accompany the collapse of a system. They are accompanied by government malfeasance and the arrogance of those who defraud the system with impunity. How can any nation survive if their currency and their bonds are worthless? http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Frauds_And_Scandals_Follow_The_Collapse_Of_The_Financial_System


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Was There A Plan to Blow Up The Economy?

Many people now believe that the financial crisis was not an accident. They think that the Bush administration and the Fed knew what Wall Street was up to and provided their support. This isn’t as far fetched as it sounds. As we will show, it’s clear that Bush, Greenspan and many other high-ranking officials understood the problem with subprime mortgages and knew that a huge asset bubble was emerging that threatened the economy. But while the housing bubble was more than just an innocent mistake, it doesn’t rise to the level of “conspiracy” which Webster defines as “a secret agreement between two or more people to perform an unlawful act.” It’s actually worse than that, because bubblemaking is the dominant policy, and it’s used to overcome the structural problems in capitalism itself, mainly stagnation. The whole idea of a conspiracy diverts attention from what really happened. It conjures up a comical vision of top-hat business tycoons gathered in a smoke-filled room stealthily mapping out the country’s future. It ignores the fact, that the main stakeholders don’t need to convene a meeting to know what they want.They already know what they want; they want a process that helps them to maintain profitability even while the “real” economy remains stuck in the mud. http://www.informationclearinghouse.info/article25367.htm


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Financial Reform: The Final Con Game

There are those who have been talking about a single global regulator for years and as a result of the 2008 Credit Crisis, there have been calls to protect you and me from future banking crises through new financial reform. However, we had better consider its real impact. It is not about protecting you and me it is about changing the national regulatory laws of America to conform to a world governmental system and globalizing the last barrier separating individual nation-states. http://www.newswithviews.com/Veon/joan168.htm


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S&P on Greek Debt Downgrade to Junk Status: Options Are Narrowing

There is no way this stops with Greece. The PIIGS, Portugal, Italy, Ireland, Greece and Spain, are about to become bacon. http://www.economicpolicyjournal.com/2010/04/s-on-greek-debt-downgrade-to-junk.html


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Abhishek

US markets are only slightly down.I can think of at least 5 problems that should make the markets go down more 1. Lower US exports to Europe because of a lower Euro 2. No potential appreciation of the yuan to the dollar 3. Lower European demand because of even weaker European growth making for a case for even weaker US exports 4. Potential risk of similar debt downgrades for other countries like Italy,UK and Japan 5. Potential debt downgrade of US itself

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The Staggering Collapse of Living Standards in the U.S. — 92 Percent of Americans Unhappy With the Economy

Recent studies shed new light on the scope of the economic crisis in the U.S. and the level of hostility the majority of the American population holds for the U.S. government. http://www.alternet.org/economy/146630


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Are Interest Rate Derivatives a Ticking Time Bomb?

Jerome Corsi argued that cities, states and universities might be wiped out by changes in interest rates: As interest rates begin to rise worldwide, losses in derivatives may end up bankrupting a wide range of institutions, including municipalities, state governments, major insurance companies, top investment houses, commercial banks and universities. Defaults now beginning to occur in a number of European cities prefigure what may end up being the largest financial bubble ever to burst – a bubble that today amounts to more than $600 trillion. http://globalresearch.ca/index.php?context=va&aid=18800


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The Global Economic Crisis: Riots, Rebellion and Revolution

As nations of the world are thrown into a debt crisis, the likes of which have never been seen before, harsh fiscal ‘austerity’ measures will be undertaken in a flawed attempt to service the debts. The result will be the elimination of the middle class. When the middle class is absorbed into the labour class – the lower class – and lose their social, political, and economic foundations, they will riot, rebel, and revolt. http://www.informationclearinghouse.info/article25229.htm


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James in U.S.A

It's not necessarilly that people have had it too good, but most have been diverted by pop culture and given the false impression that as long as you obey the law, work hard, and mind your own business, you can one day look to retire in relative comfort and peace. People are waking up to the fact that our country is broke, in debt, and in a state of decay socially,politically, and morally. And we can all look for hard times ahead as taxes increase, services are cut and the power of government continues unabated in it's quest of even more power. I personally look forward to the riots of the future when the traitors and idiots who got us into this mess can be dragged out of their hiding places and given the justice they deserve.

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12 Reasons Why Millions Of Americans Are Incredibly Angry About The State Of The U.S. Economy

As Americans, we were raised with the belief that our overwhelmingly powerful economic machine would always provide good jobs and prosperity for all of us as long as we worked hard. But we have come to learn that is not true. We have come to learn that our politicians and our leaders have squandered the great inheritance that our forefathers left for us. We have come to learn that the financial future of our nation is beyond bleak. We have come to learn that our government has piled up the biggest mountain of debt in the history of the world. Now the foolish decisions of the past several decades are catching up with us. The U.S. economy is experiencing structural failure, and the American people are angry. They want answers. They want someone to fix things. They want things to go back to the way they used to be. But that isn’t going to happen. Once the American people truly start realizing that, the anger that will erupt will dwarf what we are seeing now. http://www.prisonplanet.com/12-reasons-why-millions-of-americans-are-incredibly-angry-about-the-state-of-the-u-s-economy.html


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AmericanNationalist

Americans have reached this stage through pure ignorance while absorbing the attacks of ten million crypto-jewish thugs who have managed to oversee and manipulate our future invisibly for millenia.

James in U.S.A

How are we supposed to compete with third world countries and even China who have practically no environmental or safty standards, who don't have to spend millions every year on Diversity programs to ensure that idiots are employed regardless of whether or not they are qualified, or have unions who protect the lazy and unproductive? I'm all for protecting our environment from industries that only think of the bottomline, but I do believe our wages and prices are too inflated in a world were people actually have to worked their butts off in order to have a job. Who don't have the government, or even a union take care of them if they decide to throw a fit and get fired from their jobs. Something fundemental is going to have to change within our society and the way we work and do business. For one thing our young people, and especially blacks in this country should have to aquire a work ethic instead of relying upon affirmative action and litigation to get and keep a job.

308Winchester

"As Americans, we were raised with the belief that our overwhelmingly powerful economic machine would always provide good jobs and prosperity for all of us as long as we worked hard." More accurately, Americans were spoiled by the atypical years following WW2 when our competitors were either rebuilding from near-total destruction or stifled by communism. The 3rd world was stagnant, not emerging, and there was huge pent-up world-wide demand for products. As a result, American workers could earn $50/hr for work foreigners would do for a buck if given the chance. Those days are gone and won't be back. Competition is a b***h, you can't take your ball and go home.

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Give Greenspan an Oscar

Alan Greenspan put in another Oscar winning performance before the Financial Crisis Inquiry Commission on Wednesday. The ex-Fed chairman showcased the full-range of his abilities. He was alternately condescending, professorial, combative, engaging, and acerbic. It was vintage Greenspan with all that entails; the tedious jabber, the crusty rejoinders, the endless excuse-making. At 80, Maestro still hasn’t lost a step. No one laid a glove on him, which is precisely the problem. It’s galling that, after everything that’s happened, Greenspan is still treated like royalty; still given a platform so he can run-circles around his critics and make them look like fools. That’s not what the public wants. http://www.counterpunch.org/whitney04092010.html


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Lehman Brothers Scandal Rocks the Fed

Timmy Geithner

After a year-long investigation, court-appointed bank examiner Anton Valukas has produced a deadly 2,200 page report which details the activities that led to the Lehman Brothers bankruptcy. The report is a keg of dynamite. The question now is whether anyone in government has the nerve to light the fuse. Valukas provides powerful evidence that Lehman executives were involved in “balance sheet manipulation” by implementing an arcane accounting procedure called “Repo 105” which masked the bank’s true financial condition from investors and regulators. http://www.counterpunch.org/whitney03152010.html


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Looming Crisis: America’s Credit Card Debt Bubble-Burst

This downturn threatens the prosperity of generations to come and will likely result in a permanent reversal of fortune for the United States unless it takes substantial steps to ensure the survival and relative prosperity of the middle class – America’s largest socioeconomic group, and the engine that drives America’s economy through consumer spending. Since consumer spending accounts for about 70% of the US economy, and the middle class is responsible for the bulk of consumer spending, the US will undoubtedly experience painful contractions for the foreseeable future. http://www.lewrockwell.com/spl2/credit-card-debt-bubble.html


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Pitching for America

Jim Bunning during his playing days

Consider. Congress this year will spend $1.6 trillion more than it collects in revenue, with the largest outlays in that FY 2010 budget for defense at $719 billion and Social Security at $721 billion. Thus, if the U.S. Government on Oct. 1, 2008, had shut down the Pentagon and furloughed every soldier and civilian here and around the world, and announced that it would not send out a Social Security check for a full year to any of the 50 million retired and elderly, we would still be $160 billion short of balancing the budget. If you zeroed out federal benefits to veterans for a full year, that, added in, would bring us close. Such is the magnitude of the fiscal crisis facing the country. http://www.lewrockwell.com/buchanan/buchanan133.html


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Typical Wall Street Monkey Business

There are times in life when one witnesses something so outside the scope of normal experience, that at first you don’t see it.

Captain Cook’s diaries tell us that upon first seeing his ships offshore in Australia, the aborigines expressed “neither surprise nor concern.” Cook notes that it was not until he and his men approached the shore in smaller, more familiar vessels that the villagers reacted, arming themselves as “the sight of men in small boats was comprehensible to them: it meant invasion.”

http://community.nasdaq.com/News/2010-02/Something-Very-Strange-Is-Happening-With-Treasuries.aspx


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The New Poor – The NYT’s Take on our Destroyed Economy

Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits. Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits.

http://www.nytimes.com/2010/02/21/business/economy/21unemployed.html


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James Hallman

I see in the faces of young white men today uncertainty, anger, and frustration. It's bad enough that much of our nations industry has been outsourced to non-white countries, but they also have to contend with Affirmative Action Programs, Race Based Scholarships, and a general sense of not being included in a society that hails 'DIVERSITY' as being our strength, right here in their own country. It is truly sad to be a young white man today, knowing that to achieve what's called success, means having to demean yourself, either through acting like a wigger, or being a 'Hater' and social outcast. We Nationalist must reassert our Aryan manhood and work towards restoring the United States of America many of us can still remember before the Cultural Revolution transformed our nation, that has brainwashed our people and made them impotent in the face of their own destruction. True leadership is going to be necessary, the kind that Adolf Hitler possessed and gave to the German people, the kind of leadership that actually worked in improving the lives of the people before the International Jew and their financial and political control was able to turn the world against the only political and social system to stand against them.

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The Coming Financial Catastrophe

The people have been lulled into a false sense of safety under the rouse of a perceived “economic recovery.” Unfortunately, what the majority of people think does not make it so, especially when the people making the key decisions think and act to the contrary. The sovereign debt crises that have been unfolding in the past couple years and more recently in Greece, are canaries in the coal mine for the rest of Western “civilization.” The crisis threatens to spread to Spain, Portugal and Ireland; like dominoes, one country after another will collapse into a debt and currency crisis, all the way to America. http://www.lewrockwell.com/orig10/marshall6.1.1.html


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The Coming Foreclosure Flood

Heartened by the recent rise in home prices? Don’t get too comfortable. Standard & Poor’s, the credit-rating agency that tells investors what mortgage-backed securities are worth, reports that the increase was just an illusion. It predicts the nation is about to see a deluge of new foreclosures that will drive real estate values back down. http://www.nationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NationalPolicyInstitute+%28National+Policy+Institute%29


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James Hallman

Could it be that the worlds finacial powers thought that there was just too much wealth flowing amongst the industrialized West's citizens for their own good. To be wealthy, or even to be within the middle-class, means to a certain degree not having to depend on 'Big Government', and the 'powers that be' certainly can't have that. What better way to have control over almost every aspect of ones life than to have them totally dependent on government and its handouts. The poverty stricken masses will grasp at anything if things get bad enough. And what alternative do they have than to look towards BIG GOVERNMENT and BIG BROTHER to hold their heads above water. We Nationalist must not find ourselves among the groveling masses. Pay-off your debts, be as independent as possible, and find brotherhood in our Nationalist cause.

DixieDestroyer

We can thank the greedy Central Banking Cartel & their allies for this debacle. From the (private) Fed's fiat currency & fractional reserve banking, to NINJA loans & massive usury...it's a been a house of cards (meant to collapse...by design). The PTB is hell-bent on sinking the American middle class...to more easily implement a NGO (NAU or otherwise), as part of the long-sought OWG/NWO.

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Debt Dynamite Dominoes: The Coming Financial Catastrophe

When the crisis is over, the middle classes of the western world will have been liquidated of their economic, political and social status. The global economy will have gone through the greatest consolidation of industry and banking in world history leading to a system in which only a few corporations and banks control the global economy and its resources; governments will have lost that right. The people of the western world will be treated by the financial oligarchs as they have treated the ‘global South’ and in particular, Africa; they will remove our social structures and foundations so that we become entirely subservient to their dominance over the economic and political structures of our society. http://globalresearch.ca/index.php?context=va&aid=17736


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Frustrated Owner Bulldozes Home Ahead Of Foreclosure

Hoskins said the Internal Revenue Service placed liens on his carpet store and commercial property on state Route 125 after his brother, a one-time business partner, sued him. The bank claimed his home as collateral, Hoskins said, and went after both his residential and commercial properties. Hoskins said he’d gotten a $170,000 offer from someone to pay off the house, but the bank refused, saying they could get more from selling it in foreclosure. Hoskins told News 5′s Courtis Fuller that he issued the bank an ultimatum. “I’ll tear it down before I let you take it,” Hoskins told them. And that’s exactly what Hoskins did. http://www.wlwt.com/news/22600154/detail.html


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DixieDestroyer

The Z.O.G-enabled Bank$ters have been bulldozing our economy and middle class for years & years...so I guess it's a little karma. ;)

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How to Invest For a Global-Debt-Bomb Explosion

The Big One is coming soon, bigger than the 2000 dot-com crash and the 2008 subprime credit meltdown combined. A huge market blowout. And as Bloomberg-BusinessWeek predicts: “The results won’t be pretty for investors or elected officials.” After the global-debt bomb explodes don’t expect a typical bear correction followed by a new bull. Wall Street’s toxic pseudo-capitalism is imploding. Be prepared for a massive meltdown. Yes, already the third major bubble-bust of the 21st century, triggered once again by Wall Street’s out-of-control Fat Cat Bankers. And it’s dead ahead. http://www.marketwatch.com/story/story/print?guid=C3A7C2B5-89BD-4D1D-B306-CB891C48FD74


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308Winchester

Interesting, but Ron Paul a "neo-Reaganite"? Politics must not be this guy's strong suit.

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The Bankrupt Pigs of Europe

They are called the PIGS—Portugal, Ireland, Greece, Spain. What they have in common is that all are facing deficits and debts that could bring on national defaults and break up the European Union. What brought the PIGS to the edge of the abyss? http://www.nationalpolicyinstitute.org/2010/02/12/the-bankrupt-pigs-of-europe-by-patrick-j-buchanan/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NationalPolicyInstitute+%28National+Policy+Institute%29


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Sovereign Debt Fears Trigger Plunge in Global Markets

Stock markets in the US, Europe and other regions plunged yesterday in response to growing fears over the size of sovereign debt in several countries. Greece is on the verge of national bankruptcy and international investors are sceptical about the government’s ability to implement the savage cuts to wages and social spending required to lower its deficit from 12.7 percent of gross domestic product to just 3 percent by 2012. Portugal and Spain face a similar situation. http://www.wsws.org/articles/2010/feb2010/econ-f05.shtml


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James Hallman

I hate to say it, but hard economic times with a socialist leader like Obama may very well be just what we need right now to wake people up to what's happening to our country, which seems to be accurring, what with the Tea Party Movement and a our people leaning towards a more nationalist view on the issues. If the GOP gets back in office it'll be just more of the same old crap just a different smell.

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A Global Fiasco Is Brewing in Japan

I have felt rather lonely after suggesting in my New Year Predictions that Japan is dangerously close to blowing up on its sovereign debts, with consequences that will be felt across the world. My intended point — overly condensed — was that 2010 will prove to be the year that Japan flips from deflation to something very different: the beginnings of debt monetization by a terrified central bank that will ultimately spin out of control, perhaps crossing into hyperinflation by the middle of the decade. http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100002951/a-global-fiasco-is-brewing-in-japan/


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Michael C. Scott

What a pity! I have been hoping that the R&D industry I once worked in would recover, and much of the research money flowing into US companies was from Japanese partner firms. If the yen hyperinflates, there will be two immediate effects. The price of gasoline in Japan will skyrocket, since all oil must be imported, and the savings of the Japanese middle class - devout savers - will be utterly wiped out.

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Showdown in Athens

aa-map-of-greece Greek Finance Minister George Papaconstantinou has the European Central Bank over a barrel and doesn’t even know it. If he had a handle on the situation, he’d thumb his nose at the ECB’s austerity measures, and demand a no-strings-attached loan package to help his country get through the current rough patch. Instead, he’s carrying on like a faint-hearted schoolboy. Papaconstantinou is concerned that Greece’s dire economic situation will lead to default and capital flight. But his fears are overblown. The ECB is not going to let Greece default and trigger another Lehman Brothers-type meltdown. That won’t happen. The Finance Minister needs pull himself together and realize that he’s in the cat-bird seat. http://www.counterpunch.org/whitney12102009.html


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