As the deadline neared and Greece teetered on the verge of financial collapse, a general strike and at least 10 separate protests took place in Athens as demonstrators called for the government to reject the new rescue package or try to renegotiate for better terms from international creditors that include the European Central Bank, eurozone governments and the International Monetary Fund. So far, the lenders have been unyielding in their terms.
(StefanMolyneux) – China just lost over $3 trillion of stock value, what this means to you, your house, your money, your future and your chances for true economic and political freedom.
After more than doubling in value over the last year despite a slowing economy and weak corporate earnings reports – the stock market in China is in a freefall. While the eyes of the world are on Greece and the European Union – China’s economy is imploding. Read the rest of this entry »
(StefanMolyneux) – Over the years, the general public has been told many false reasons as to why the Euro was necessary. Everything from economic stability – to preventing World War III has been used as justification for the European currency’s existence. In light of the economic crisis in Greece, we strive to answer: What is the truth about the Euro and the European Central Bank? Read the rest of this entry »
(AJC) – From Thermopylae one week, to fire sale the next. Described by multiple sources as looking like a beaten dog, Greek Prime Minister Tsipras was reportedly told by the President of the European Council, Donald Tusk, after 14 hours of meeting, that he was not going to be allowed to leave the room. Greece is not going to be allowed to leave the EU either. Greece is the future of the US, the future of the world, if the global consolidation via economic union is not stopped. Read the rest of this entry »
(NaturalNews) – In recent days, the stock market has been like an economic roller coaster, rising one day before falling — dramatically — the next. And on those down days, the market often seems as though it has slipped into a free-fall, dropping hundreds of points in just a few hours.
Only to rise again before the final bell. How is that possible? According to John Crudele of the New York Post, it’s only possible through government intervention aimed at stemming losses and, most likely, to shore up confidence in a) the U.S. economy; and b) the leaders (elected and unelected) who are running it: Read the rest of this entry »
(RussiaToday) – The Swiss Army is preparing contingency plans for violent unrest across Europe. A nation mostly famous for its banks, watches and chocolate fears it may face a massive influx of European refugees in the near future.
One of the world’s richest nations openly expressed concerns over the possible outcome of Europe’s continuing financial troubles, and is currently conducting army exercises against the possibility of riots along its borders. Read the rest of this entry »
(WakingTimes) – In the US, a college education is so insanely unaffordable that only the wealthiest students from the wealthiest of families, or the ones fortunate to have been granted full scholarship, can afford to go to school without racking up tens of thousands of dollars in debt.
Some – for example PhDs and medical students – will enter the work force with the burden of a six-figure student loan debt. As a result of high tuition fees in the US, the student loan debt stands at about $1.2 trillion and is the second-highest form of consumer debt in the country. The US Institute for College Access and Success reports that two-thirds of today’s students will leave college in significant debt, estimated to average at $26,600. Read the rest of this entry »
(JamesCorbett) – Good morning, Mr. President. I’m a representative of the shadow government that put you into power. Did you ever wonder how we keep people fighting with each other? Or obeying our silly rules? Or actually loving their captors and slavemasters? This morning we’re going to brief you on just that. Are you ready to begin? Read the rest of this entry »
(BATR) – The cozy relationship between financial institutions and their respective regulators has long been known. Concern from reformers and activists comes from all stripes of ideological perspectives.
(TheAmericanDream) – The student loan debt bubble in America is spiraling out of control, and it is financially crippling an entire generation of young Americans. At this point, the grand total of student loan debt in the United States has reached a staggering 1.2 trilliondollars, and an all-time record high 40 million Americans are currently paying off student loan debts. Just when our young people should be planning on buying homes and starting families, they find themselves financially paralyzed by oppressive levels of debt.
What makes all of this even worse is that only some of our college graduates are able to get the “good jobs” that we promised them. So with limited job prospects and suffocating levels of debt, this generation of young Americans is increasingly putting offmajor life commitments such as buying a home and getting married. Read the rest of this entry »
(EconomicCollapseBlog) – There are some who believe that the next great financial crash will not begin in the United States. Instead, they are convinced that a financial crisis that begins in Europe or in Japan (or both) will end up spreading across the globe and take down the U.S. too. Time will tell if they are ultimately correct, but even now there are signs that financial trouble is already starting to erupt in both Germany and Japan.
German stocks have declined 10 percent since July, and that puts them in “correction” territory. In Japan, the economy is a total mess right now. According to figures that were just released, Japanese GDP contracted at a 7.1 percent annualized rate during the second quarter and private consumption contracted at a 19 percent annualized rate. Could a financial collapse in either of those nations be the catalyst that sets off financial dominoes all over the planet? Read the rest of this entry »
(Occupy.com) – Wall Street wrecked the economy in 2007 due to its deals in shady mortgage securities that put the entire global economy on the brink. But do you think the big banks learned their lesson and decided to stop deceiving people with their overly complex financial instruments? The answer is, of course, a resounding No. Not only have the bankers received no human punishment – only fines – for destroying the economy, but they’re now involving themselves in the rental arena and may create another financial crisis in the process. Read the rest of this entry »
(EconomicCollapseBlog) – When is the U.S. banking system going to crash? I can sum it up in three words. Watch the derivatives. It used to be only four, but now there are five “too big to fail” banks in the United States that each have more than 40 trilliondollars in exposure to derivatives.
(PaulCraigRoberts) – The Federal Reserve and its bullion bank agents (JP Morgan, Scotia, and HSBC) have been using naked short-selling to drive down the price of gold since September 2011. The latest containment effort began in mid-July of this year, after gold had moved higher in price from the beginning of June and was threatening to take out key technical levels, which would have triggered a flood of buying from hedge funds. Read the rest of this entry »
(EconomicCollapseBlog) – The next time you visit a hospital, it is your wallet that may end up hurting the most. All over the United States, it has become common practice for hospitals to wildly inflate medical bills. For example, it has been reported that some hospitals are charging up to 30 dollars for a single aspirin pill. And as you will see below, some victims report being billed tens of thousands of dollars for a non-surgical hospital visit that lasts only a few hours. Read the rest of this entry »
(DavidRedick) – All forms of money serve as a ‘medium of exchange’, and ‘unit of account’ and ‘store of value’, which is convenient and flexible compared to barter. Key Point: Note that when a valuable commodity (such as gold) is used as money (‘monetization of gold’), the money is worth as much as the goods or services in the transaction. It is not just a ‘symbol’ or ‘measuring device’. This is also true of barter, but with gold’s high value per weight and volume, etc., using gold is more convenient, and thus helps improve commerce. Read the rest of this entry »
Climate change is a globalist scheme for world domination
(KurtNimmo) – A cartel of globalist “development” banks has produced a report “on the need for economic collaboration to help nations adapt and avert the impact of climate change,” UPI reported on Friday.
The report was prepared by the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank, and the World Bank Group and appears ahead of a United Nations climate summit in New York next week. Read the rest of this entry »
(EconomicCollapseBlog) – Did you know that the number of gold bars being purchased by ultra-wealthy individuals has increased by 243 percent so far this year? If stocks are just going to keep soaring, why are they doing this?
On Thursday, the Dow Jones industrial average and the S&P 500 both closed at record highs once again. It is a party that never seems to end, and there are a lot of really happy people on Wall Street these days. But those who are discerning realize that we witnessed the exact same kind of bubble behavior during the dotcom boom and during the run up to the last financial crash in 2007. Read the rest of this entry »
(Rare) – Campaign for Liberty, an organization founded by Ron Paul, sent out a press release Wednesday announcing that the H.R. 24 bill, “Audit the Fed,” passed by a vote of 333-92, the first time that’s happened since former Congressman Paul introduced the original bill in 2012.
“I am pleased to see the House of Representatives once again pass this historic legislation,” Ron Paul said in the release. “The support ‘Audit the Fed’ has received over the past few years has been tremendous. I urge Senate Majority Leader Harry Reid to listen to the American people and hold a vote on ‘Audit the Fed’ right away.”
(EconomicCollapseBlog) – The idea that the Obama administration has the budget deficit under control is a complete and total lie. According to the U.S. Treasury, the federal government has officially run a deficit of 589 billion dollars for the first 11 months of fiscal year 2014. But this number is just for public consumption and it relies on accounting tricks which massively understate how much debt is actually being accumulated.
If you want to know what the real budget deficit is, all you have to do is go to a U.S. Treasury website which calculates the U.S. national debt to the penny. On September 30th, 2013 the U.S. national debt was sitting at $16,738,183,526,697.32. As I write this, the U.S. national debt is sitting at $17,742,108,970,073.37. That means that the U.S. national debt has actually grown by more than a trillion dollars in less than 12 months. We continue to wildly run up debt as if there is no tomorrow, and by doing so we are destroying the future of this nation. Read the rest of this entry »
(RussiaToday) – In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the ‘sans dents’ as the new ‘sans culottes’ as the bubbles will continue until morale improves. They also discuss inflation without compensation. In the second half, Max interviews David Smith of the Geneva Business Insider Blog about the Swiss Gold Initiative, the impact of sanctions and the wave of anti-EU sentiment spreading across Europe. Read the rest of this entry »
(PressTV) – An American economist says the political tensions between Washington and Moscow will speed up the demise of the US dollar in international transactions.
“The political tensions between the United States and Russia has increased or speeded up the process of which nations are doing business between countries instead of dollars and doing it with their local currencies,” Mark Thornton, Senior Fellow at Mises Institute, told Press TV on Wednesday. Read the rest of this entry »
(EconomicCollapseBlog) – Should we be concerned that the percentage of Americans who are either working or looking for work is the lowest that it has been in 36 years? In August, an all-time record high 92,269,000 Americans 16 years of age and older did not “participate in the labor force”. And when you throw in the people that are considered to be “in the labor force” but are not currently employed, that pushes the total of working age Americans that do not have jobs to well over 100 million. Read the rest of this entry »
The job picture of “the world’s only superpower,” is the picture of employment in a Third World country
(PaulCraigRoberts) – The Dow Jones stock average closed Friday at 17,137, despite the fact that the payroll jobs report was a measly 125,000 new jobs for August, an insufficient amount to keep up with the growth in the working age population.
The low 125,000 jobs figure is also inconsistent with the Bureau of Economic Analysis’ second estimate of second quarter 2014 US GDP growth of 4.2 percent–a figure beyond the capability of the present-day US economy.
(SHTFPlan) – Despite arguments to the contrary from the Obama administration, mounting evidence suggests that the U.S. economy is rapidly falling back into negative growth territory. More Americans are out of the workforce than ever before, median household incomes are at levels not seen since 1967, and consumer spending is coming to a veritable standstill. The crisis is apparently so significant that a Federal Reserve governor recently said U.S. policymakers are crafting regulations that will force bank depositors to cover any lossesshould their financial institutions fail.
The question that many are asking is, how did this happen? How, after six years of recovery efforts and trillions of dollars printed, is it possible that the economy is not booming again?
This week the Federal Reserve published a report that claims to have figured it out and it turns out that the renewed economic downturn has nothing to do with foreign outsourcing, high taxation, increased health care costs for business or rising consumer prices for food and energy.
(Occupy.com) – College students and graduates around the nation are buried in debt and trying to succeed in an extremely difficult and competitive economic environment. Many people are graduating only to find that they are unable to get the jobs they want either due to the small number of available positions or, more usually, the problem that they lack “experience” – and are thus reduced to working menial jobs while paying back exorbitant loans.
So far very little legislation has been passed to aid students in paying back their loans, and many blame politicians. However, the situation goes deeper than this and lies, in part, with a little-known institution called the American Bankers Association. Read the rest of this entry »
(NaturalNews) – My heart goes out to all those fast food workers protesting for higher wages, but I’m sad to have to watch them experience the harsh lesson in real-world economics that’s about to hit home. By taking to the streets and demanding $15 / hr. in wages, fast food workers are unintentionally making themselves economically obsolete. They are, in essence, guaranteeing their own unemployment.
Sadly, few of the protesters realize this. Nor will they realize why they are being fired when that day soon arrives. Entry-level fast food workers, after all, tend to have relatively little knowledge of how business really works, where money comes from, where money goes and why no private sector business can stay in business for very long if its operating costs exceed its income. Read the rest of this entry »
Discussions of the possible collapse of the U.S. dollar often center around how such an event will affect the domestic economy
(SHTFPlan) – Discussions of the possible collapse of the U.S. dollar often center around how such an event will affect the domestic economy. But the dollar doesn’t just operate inside of a bubble. It is the world’s reserve currency for a reason. Some sixty-six countries world-wide either utilize it as their primary currency or peg their own currencies to its exchange rate. What this means, as noted by Future Money Trends in the micro documentary below, is that if and when the dollar does come under attack the fallout will be everywhere. The collapse will happen simultaneously and affect billions of people worldwide. Read the rest of this entry »
(WolfStreet) – Home flippers are hardy folks who dive head-first into housing markets to buy homes at a discount from estimated market value, rehab them if they have to, trim the trees and cut the weeds out front, and flip the unit in less than a year, hopefully at a premium over estimated market value. If all works out, they’re rewarded with fat returns on investment.
It involves leverage, so some of the risks get shuffled off to the lender. It involves skills, connections, knowledge, and a good dose of luck. Above all, it requires the ability to buy low and sell high. To take home some serious dough, flippers need to purchase at double-digit discounts below “estimated market value” (based on AVM) and add enough value to sell at a premium over estimated market value. In the intervening months, home prices must also jump. So double-digit home price increases over the last two years have made flipping a lot more profitable. And easier.
This is the magic mix. If the conditions are met, the equation works out. It not, it’s a leveraged bet that can go to heck in a hand basket. Read the rest of this entry »
(EconomicCollapseBlog) – Wall Street banks are getting hit by cyberattacks every single minute of every single day. It is a massive onslaught that is not highly publicized because the bankers do not want to alarm the public.
But as you will see below, one big Wall Street bank is spending 250 million dollars a year just by themselves to combat this growing problem. Read the rest of this entry »
(TedBaumann) – I often ask myself: “Is America becoming a Third World country?” I’ve traveled all over the world and seen the ins and outs of developed and undeveloped nations, observing economic and political structures that work and many that don’t. And what I too often see in the Third World — it’s that fair and equal treatment under the law often goes amiss. Read the rest of this entry »