While the mainstream financial press pretends that quantitative easing is a “liberal” economic policy, nothing could be further from the truth. Read the rest of this entry »
(AJC) – Alex welcomes British Author and renowned New World Order investigator David Icke to expose the large strides towards bringing about total financial collapse and public enslavement. Read the rest of this entry »
(ZeroHedge) – This exchange between Reuters and Chairman Bernanke exposes everything that is broken with the Fed’s brand new policy of QE-nfinity. Read the rest of this entry »
(CNBC) – Europe is approaching a crisis as the region’s debt crisis and austerity measures increase the rates of depression, suicide and psychological problems – just as governments cut healthcare spending by up to 50 percent, according to campaigners, policy makers and health organizations. Read the rest of this entry »
See Also: (ZeroHedge) – David Takes On The Porn-Addicted Goliath: Egan-Jones Countersues The SEC – Read More Here
(ZeroHedge) – There were so many disturbing elements to the ‘government massaged’ jobs data that we’re not sure we can do justice to the litany of disappointments. Read the rest of this entry »
(RedAlert) – A series of reports released by the Census Bureau this month make clear the income gap between the richest and poorest Americans is widening, as free-trade globalism destroys the U.S. middle class.
Red Alert has consistently warned that the current high rate of unemployment and the shrinking of the middle class are not the result of a current recession.
Instead, the main argument of my book “America for Sale: Fighting the New World Order, Surviving a Global Depression, and Preserving USA Sovereignty” is that this is what globalism looks like. Read the rest of this entry »
(RussiaToday) – Famous investor and billionaire George Soros referred to the US economy as “blah,” saying he expects a further slowdown. US President Barack Obama has insisted however that the US economy is heading in the right direction. Gerald Celente, the director of the Trends Research Institute said the economy is not just blah, it’s in a depression. It’s the summer of the greatest recession,” he said. Read the rest of this entry »
In times of crisis people seek strong leaders and simple solutions. But what if their solutions are identical to the mistakes that caused the very crisis? This is the story of the greatest economic crisis of our age, the one that awaits us. Read the rest of this entry »
(RussiaToday) – August marks the three year anniversary of the beginning of the financial crisis. The collapse continues today, said Gerald Celente of the Trends Research Institute. Celente says that by focusing on the Great Depression, government experts are focused on the past and are neglecting the future. The Great Depression is history, argued Celente, saying it is time to look to the future, not the past. Read the rest of this entry »
(C4L) – There is overwhelming agreement among economists that the Second World War was responsible for decisively ending the Great Depression. When asked why the wars in Iran and Afghanistan are failing to make the same impact today, they often claim that the current conflicts are simply too small to be economically significant.
There is, of course, much irony here. No one argues that World War II, with its genocide, tens of millions of combatant casualties, and wholesale destruction of cities and regions, was good for humanity. But the improved American economy of the late 1940s seems to illustrate the benefits of large-scale government stimulus. This conundrum may be causing some to wonder how we could capture the good without the bad.
If one believes that government spending can create economic growth, then the answer should be simple: let’s have a huge pretend war that rivals the Second World War in size. However, this time, let’s not kill anyone. Read the rest of this entry »
Alex talks with writer, director, and producer Brian Kraft and Robert DiNozzi about Kraft’s The Fall of America and The Western World, an 8+ hour documentary. The video explores the current economic crisis, the Federal Reserve, the emerging police state, the globalist agenda, and how political agendas in media have destroyed our ability to get real news. Robert DiNozzi was the executive producer of Flightplan, a 2005 feature film starring Jodie Foster. Read the rest of this entry »
Alex talks with writer, director, and producer Brian Kraft and Robert DiNozzi about Kraft’s The Fall of America and The Western World, an 8+ hour documentary. The video explores the current economic crisis, the Federal Reserve, the emerging police state, the globalist agenda, and how political agendas in media have destroyed our ability to get real news. Robert DiNozzi was the executive producer of Flightplan, a 2005 feature film starring Jodie Foster. Read the rest of this entry »
(LewRockwell) – The Washington Post has published a splashy exposé about the mammoth “homeland security” intelligence empire that now burdens the United States, financially and ideologically.
As usual, however, there is no real historical context. And that lack of context is part of the story – not just the current dimensions of the empire.
I wrote the following article for Penthouse in the summer of 2003. It was reprinted by CounterPunch later that summer.
At the time I said: “This homeland security boondoggle is the biggest reorganization of the U.S. government in 50 years. It might even bankrupt the country and, perhaps intentionally, throw it into a Depression. That remains to be seen. What is certain is that at a cost of $50 billion in taxpayer’s money, the homeland security infrastructure will provide Bush with 170,000 political cadres, and the internal security he needs to assure the continuity of his political power indefinitely. Except for providing Bush with political internal security, there is no need for the Department of Homeland Security; it is a Trojan Horse through which Bush will unleash his ideological storm troopers and exploit his ill-gotten power to achieve permanent political dominance.” Read the rest of this entry »
(KurtNimmo) – An Infowars.com poll posted last week reveals that nearly 60% of respondents believe the United States is headed for a “road warrior” economic depression. 17% believe the country is headed for a depression no worse than the Great Depression, while 13% think the economic crisis will continue along its current trajectory and not get worse. 5% of respondents believe the economy will turn around as Obama and the government promises. Read the rest of this entry »
There can be little doubt that America, along with the west as a whole, is being set up for a total collapse in which life as we know it will be fundamentally altered and rebuilt around a collectivist model managed and controlled by the same criminals who engineered the crisis in the first place. Read the rest of this entry »
(LATimes) – U.S. home foreclosures reach record high in second quarter
Bank repossessions increased 38% in the second quarter from the same period a year earlier for a record total of 269,952, according to data to be released Thursday by RealtyTrac. Read More Here
(CounterPunch) – How Bank of America Got Away With a Huge Swindle – Read More Here
(TechTicker) – The U.S. Middle Class Is Being Wiped Out: Here’s the Stats to Prove It
The 22 statistics detailed here prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America. Read More Here
(TheComingDepression) – World At Risk Of Folding In On Itself
The global economy is at risk of folding in on itself unless policy makers face up to the threat of inflation and exchange rate inflexibility, according to Arun Motianey, director of fixed income strategy at Roubini Global Economics. Read More Here
(TheComingDepression) – The Housing Depression – Read More Here
(EconomicCollapse) – The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Pissed Off And Frustrated – Read More Here
(AP) – Dollar slides after Greek debt auction bolsters confidence in Europe, while US data weak
The dollar has drifted lower after Greece successfully sold debt to investors while U.S. economic data remained weak. Read More Here
(MoneyNews) – Obama Panel Warns Governors: Debt Will Destroy US Like a Cancer – Read More Here
(InfoClearingHouse) – The Fed is Steering the Economy into Deflation – Mike Whitney – Read More Here
(12160Org) – Fear Index rises to 16-year high
The Fear Index has risen to a 16-year high. As of June 30th, the Fear Index is 2.35%, based on M3 data made available by shadowstats.com. Here is the formula and calculation for June 30th: Read More Here
Video: Alex Jones Tv: The Private Planetary Banking Cartel Designed This Depression!
Alex starts off the show with a strong message and a reminder of who is causing all of these global depressions and what they stand to gain if they succeed. Read the rest of this entry »
(AlexJones&AaronDykes) – Move towards global currency as U.S. loses status, faces depression and sees dangerous cuts to services as economic instability sets in
The United States as we know it has ended, Alex Jones warns, as the nation has lost its credit rating with China, its Dollar reserve status and faces saddling debt and cuts in programs and services. Read the rest of this entry »
(PaulWatson) – World government to be built from the ashes of the United States unless nightmarish agenda for new world order is defeated – Read the rest of this entry »
(KurtNimmo) – Let’s put Lindsay Lohan’s fear of jail aside for a moment and turn to Obama’s Summer Recovery Tour 2010. Obama’s apparatchiks “will fan out across the country over the next few days to spread the message to voters about how effective their $787 billion recovery plan has been,” The Hill reported earlier this week. “Obama and the White House take comfort the economy is moving in the right direction. They point out that the economy has added jobs in six of the last seven months and stress that when Obama took office the economy was losing 750,000 jobs a month.”
Has it really? Less than a month ago Joe Bite Me said jobs have gone away and they are never coming back. Biden said “there’s no possibility to restore 8 million jobs lost in the Great Recession” and folks should get used to it. “We inherited a godawful mess,” he said and glibly added that there was “no way to regenerate $3 trillion that was lost. Not misplaced, lost.”
It wasn’t lost and Joe knows it. It was stolen. Trillions went directly to the banksters. They defiantly refused to tell Congress and the American people where it all went. In December of 2008, as the engineered Greatest Depression was gaining steam, the Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of “emergency loans” billed to future generations of American debt slaves. Read the rest of this entry »
(ActivistPost) – Economic Hitmen Come for Their ‘Pound of Flesh’ in New Jersey
It was reported today that New Jersey’s Governor Christie is proposing privatization of many public services. This is the precise playbook of “Economic Hitmen” aka Banks. First, they loan ridiculous amounts of money to the public sector, knowing full well these loans can never be repaid and when state bankruptcy looms, the public infrastructure is auctioned to pirates of industry for pennies on the dollar. Read More Here
(SeekingAlpha) – Look Out Below: The Baltic Dry Index Is in Freefall – Read More Here
(RTTNews) – Regulators Shut Down Four Banks
On Friday, regulators closed four banks in the U.S. bringing the total number of bank failures to 90 so far this year. The failed banks are Bay National Bank, Baltimore, Maryland, Ideal Federal Savings Bank, Baltimore, Maryland, USA Bank, Port Chester, New York and Home National Bank, Blackwell, Oklahoma. Read More Here
(AboveTopSecret) – 46,000 Dairy Farms Closed Down in Last 10 Years
Times are especially bad for dairy farmers across the United States. About 40% of all dairy farms
(or 46,000) went out of business over the last 10 years, due to falling milk prices and rising costs. Farmers went from getting $21.70 per hundred pounds of milk to $11.30 from 2007 to 2009, while animal feed costs increased 35% and fuel prices rose 30%. Read More Here
(CharlieVLog) – The Collapse Is Upon Us
(AspenDaily) – Historian warns of sudden collapse of American ‘empire’
Harvard professor and prolific author Niall Ferguson opened the 2010 Aspen Ideas Festival Monday with a stark warning about the increasing prospect of the American “empire” suddenly collapsing due to the country’s rising debt level.
“I think this is a problem that is going to go live really soon,” Ferguson said. “In that sense, I mean within the next two years. Because the whole thing, fiscally and other ways, is very near the edge of chaos. And we’ve seen already in Greece what happens when the bond market loses faith in your fiscal policy.” Read the rest of this entry »
(MarketOracle) – SULTANS OF SWAP: BP Collapse Potentially More Devastating than Lehman!
As horrific as the gulf environmental catastrophe is, an even more intractable and cataclysmic disaster may be looming. The yet unknowable costs associated with clean-up, litigation and compensation damages due to arguably the world’s worst environmental tragedy, may be in the process of triggering a credit event by British Petroleum (BP) that will be equally devastating to global over-the-counter (OTC) derivatives. The potential contagion may eventually show that Lehman Bros. and Bear Stearns were simply early warning signals of the devastation lurking and continuing to grow unchecked in the $615T OTC Derivatives market. Read More Here
(DailyFinance) – Wall Street Apocalypse: The World of the Doomsday Investors – Read More Here
(Guardian) – Graduates warned of record 70 applicants for every job
Class of 2010 told to consider flipping burgers or shelf stacking to build skills as they also compete with last year’s graduates Read More Here
(DetroitNews) – Foreclosures plague Metro area towns – Read More Here
(DailyFinance) – Facing a $7 Billion Shortfall, the U.S. Postal Service Proposes to Raise Rates – Read More Here
(MaineBiz) – Maine foreclosures still rising – Read More Here
(Telegraph) – Europe’s ‘toothless’ bank tests making matters worse
RBS and other City institutions have warned that Europe’s stress tests for banks are almost useless and may further damage confidence if they fail to cover the risk of large losses on sovereign defaults by Greece and other Club Med states. Read More Here
(HuffingtonPost) – Reps. Paul & Frank: Why We Must Reduce Military Spending
By far the single most important of these is our current initiative to include substantial reductions in the projected level of American military spending as part of future deficit reduction efforts. For decades, the subject of military expenditures has been glaringly absent from public debate. Yet the Pentagon budget for 2010 is $693 billion — more than all other discretionary spending programs combined. Even subtracting the cost of the wars in Iraq and Afghanistan, military spending still amounts to over 42% of total spending. Read More Here
(NewAmericanEmpire) – Debt Deflation: A Long Economic Winter Ahead – Prof. Rodrigue Tremblay
The bond market is telling us that there could be hard economic times ahead and that deflation, for the time being, is more of a threat than inflation. Leading indicators are also pointing to possible economic weakness ahead. Read More Here
(MikeWhitney) – More Red Flags for the Economy
Bonds are signaling that the recovery is in trouble. The yield on the 10-year Treasury (2.97 percent) has fallen to levels not seen since the peak of the crisis while the yield on the two-year note has dropped to historic lows. This is a sign of extreme pessimism. Read More Here
(NECN) – Video: Mass. town will charge to keep street lights on – Video Link Here
(CharlieVLog) – Video: REALITY IS CLOSING IN
See Also: (CharlieVLog) – Video: Fast Track To The Bottom – Video Link Here
(PuppetGov.coM) – Video: America’s Controlled Economic Implosion – Video Link Here
(July 5) – Video: Alex Jones – It Feels like It’s 1932
(Bloomberg) – Sovereign Default Risk Rose 30% as European Debt Crisis Deepened, CMA Says – Read More Here
(NewsWeek) – Worse Than Wall Street – How shaky European banks could tip the world back into recession. – Read More Here
(TheEconomicCollapse) – No Jobs
Everyone knows that the United States is bleeding jobs. According to one new study, the private sector in the United States has lost 10.5 million jobs since 2007. The U.S. economy lost 125,000 more jobs during the month of June. Approximately a million frustrated American workers have simply dropped out of the employment market altogether over the past two months. But the question not enough people are asking is why so many jobs are being lost. Read More Here
(LVRJ) – WAYNE ALLYN ROOT: Barack Obama: The great jobs killer
As former President Ronald Reagan might have said, “Obama, there you go again.”
The current occupant of the White House claims to know how to create jobs. He claims jobs have been created. But so far the score is Great Obama Depression 2.2 million lost jobs, Obama 0 — a blowout. Read More Here
(TheStar) – A stock market forecast that says ‘take cover’
With the stock market lurching again, plenty of investors are nervous, and some are downright bearish. Then there’s Robert Prechter, the market forecaster and social theorist, who is in another league entirely.
Prechter is convinced we have entered a market decline of staggering proportions – perhaps the biggest of the last 300 years. Read More Here
(SeekingAlpha) – Cecchini: U.S. Consumers in ‘Dire’ Credit Situation
Peter Cecchini, chief strategist at BGC Financial, talks to Pimm Fox about the U.S. economy and consumer credit on Bloomberg Television’s “Taking Stock.” He says that the 122% percent household debt to GDP ratio is well above the pre-1980 average of 60-80%. Just to get back to a 100% to GDP ratio, we need an additional $2 trillion of deleveraging. In the absence of income growth, you just aren’t going to get these numbers down without deleveraging. Read More Here
(RevoltOfThePlebs) – Government Math… FOR KIDS!
Did you know that you and I can create millions, billions and even trillions of numbers just as easily as the Federal Reserve? All you have to do is use your imagination. Let’s try it! Read More Here
(Infowars) – California Implodes
California is the wealthiest and most populous State in America, and Los Angeles County is the largest county in America, so both the State and LA County wield unbelievable power in Washington D.C. The corruption in California affects you directly.
• How would you feel if you knew your federal tax dollars were being used to finance California’s corruption?
• You may be surprised to learn that the California State Legislators and the LA County Supervisors went to Washington D.C. to obtain the maximum federal funding for their extensive welfare, medical and illegal alien imprisonment programs, in order to claim the federal tax payer money in an end run around the other states.
• Imagine the end of the democratic process through judicial corruption, like that in LA County, replicated in your community.
(July 2) – Alex also talks with trend forecaster, publisher of the Trends Journal, business consultant and author Gerald Celente. Read the rest of this entry »
(July 2) – Alex also talks with trend forecaster, publisher of the Trends Journal, business consultant and author Gerald Celente. Read the rest of this entry »
(DailyMail) – Increasing numbers of Britons are taking antidepressant drugs, with prescriptions doubling over the past ten years, according to a report this month. In 2000, there were 20 million prescriptions – this rose to 39 million last year.
While this rise is partly being blamed on the recession, experts are concerned that misdiagnosis is a major factor. Indeed, a study published recently in The Lancet found that the average GP will wrongly diagnose 16 out of every 100 patients they see with depression and anxiety. Read More Here
See Also:
(Rense) – Medically-Caused Deaths In America – An Exclusive Interview With Barbara Starfield
The American health system, like clockwork, causes a mind-boggling number of deaths every year.
The figures have been known for a decade. The story was covered briefly when a landmark study surfaced, and then it sank like a stone.
The truth was inconvenient for many interests. That has not changed. “Medical coverage for all” is a banner that conceals ugly facts. Read More Here
(DailyMail) – Increasing numbers of Britons are taking antidepressant drugs, with prescriptions doubling over the past ten years, according to a report this month. In 2000, there were 20 million prescriptions – this rose to 39 million last year.
While this rise is partly being blamed on the recession, experts are concerned that misdiagnosis is a major factor. Indeed, a study published recently in The Lancet found that the average GP will wrongly diagnose 16 out of every 100 patients they see with depression and anxiety. Read More Here
See Also:
(Rense) – Medically-Caused Deaths In America – An Exclusive Interview With Barbara Starfield
The American health system, like clockwork, causes a mind-boggling number of deaths every year.
The figures have been known for a decade. The story was covered briefly when a landmark study surfaced, and then it sank like a stone.
The truth was inconvenient for many interests. That has not changed. “Medical coverage for all” is a banner that conceals ugly facts. Read More Here
(GunsNButter) – Audio: On the Destructive Nature of the Global Economic System – Bonnie Faulkner Interviews Michel Chossudovsky – Audio Link Here
(NYTimes) – NY Times’ Krugman: We Are Entering The Third Depression
We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. Read More Here
(CNN) – Video: Clinton – U.S. Budget Is Broken – View Video Here
(LondonTelegraph) – RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve
As recovery starts to stall in the US and Europe with echoes of mid-1931, bond experts are once again dusting off a speech by Ben Bernanke given eight years ago as a freshman governor at the Federal Reserve. Read More Here
(LewRockwell) – Suiting Up for a Post-Dollar World
The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie’s choice between social unrest and bankruptcy. But with the “Club Med” economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated. Read More Here
(StarAdvertiser) – Huge tent city takes root
Homeless camps cover 50 acres, from Waipio Point, around Middle Loch to Pearl City Read More Here
REPOST – (WSWS) – Senate Democrats and Obama abandon the jobless
Senate Democrats gave up efforts to extend unemployment benefits for millions of jobless workers after the third vote on overcoming a Republican filibuster failed. The final vote Thursday was 57 to 41, three votes short of the 60 necessary to cut off debate, with one Democrat, Ben Nelson of Nebraska, joining a unanimous Republican opposition. Read More Here
(Bloomberg) – Merkel Warns European Crisis is Far From Over, Wall Street Journal Reports – Read More Here
(GlobalResearch) – BOOK LAUNCH: The Global Economic Crisis: The Great Depression of the XXI Century – Michel Chossudovsky and Andrew Gavin Marshall – Read More Here
(EurasiaReview) – Europe’s Fiscal Dystopia: The “New Austerity” Road – Michael Hudson
Europe is committing fiscal suicide – and will have little trouble finding allies at this weekend’s G-20 meetings in Toronto. Despite the deepening Great Recession threatening to bring on outright depression, European Central Bank (ECB) president Jean-Claude Trichet and prime ministers from Britain’s David Cameron to Greece’s George Papandreou (president of the Socialist International) and Canada’s host, Conservative Premier Stephen Harper, are calling for cutbacks in public spending. Read More Here
(BBC) – Romania plans big VAT rise to secure bail-out funds – Read More Here
(RegionalTimes) – IMF stops next tranche of loan to Pakistan till imposition of VAT Read More Here
Climategate
(LATimes) – Senate Democrats poised to start energy bill
With the gulf oil spill creating political opportunity, Senate Democrats will begin crafting a sweeping energy bill this week that could include a first-ever, though more modest, cap on global-warming pollution, believing they must act now despite differences within their ranks and political jitters in an election year.
Australia’s new prime minister, Julia Gillard, today moved to revive a stalled carbon trading scheme, pledging more consultation with industry and voters to win support for an issue that has divided the nation. Read More Here
(YahooTechTicker) – REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet
In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.
The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak.
That rally, of course, was also the biggest sucker’s rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. Read More Here
(HuffingtonPost) – Long-Term Unemployed Now 46 Percent Of Unemployed, Highest Percentage On Record
The proportion of people jobless for six months or more has accelerated in the past year and now makes up 46 percent of the unemployed. That’s the highest percentage on records dating to 1948. By late summer or early fall, they are expected to make up half of all jobless Americans. Read More Here
(InfoClearingHouse) – Europe Chooses Depression – Mike Whitney
Forget about a smooth recovery. Finance ministers and central bank governors of the G-20, met this weekend in Busan, South Korea and decided to abandon “tried and true” expansionary fiscal policies for their own strange brew of belt-tightening policies and austerity measures. Read More Here
(EuroPacificCapital) – Key Indicators of a New Depression
With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned. But I will argue that a look under the proverbial hood reveals a very different picture. I believe the data shows that the US economy is badly damaged, and a modern-day depression has begun. In fact, just as World War I was originally called The Great War (and was retroactively renamed after World War II), Peter Schiff has said that one day the world will refer to the 1929-41 era as Great Depression I, and the current period as Great Depression II. Read More Here
(Bloomberg) – U.S.’s $13 Trillion Debt Poised to Overtake GDP: Chart of Day – Read More Here
(AP) – Financial crisis panel subpoenas Goldman
A panel probing the causes of the financial meltdown has issued a subpoena for documents from Goldman Sachs Group Inc., accusing the firm of stonewalling an investigation. Read More Here
(PaulWatson) – Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns
A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.
With gold smashing through its all time record high this morning on the back of fears over a double dip recession, analysts are turning increasingly bearish on the markets. Anthony Fry, senior managing director at Evercore Partners, told CNBC that the bond markets could turn nasty over the next few months and said that the current problems created by the European debt crisis could be with us for at least five years. Read the rest of this entry »
(Rense) – Illinois – A State In Crisis – Stephen Lendman
This writer’s earlier articles addressed greater social misery in America than since the Great Depression, because of unemployment, homelessness, hunger, bankruptcies, despair, and rising poverty levels.
According to the National Academy of Science, 47.4 million Americans were impoverished in 2008, 15% of the population, but the true number is much higher since the government’s income threshold is $22,000 for a family of four, way short of what’s needed throughout urban America where even half again as much is too little. Read More Here
(Bloomberg) – Banks Seized by Regulators in Nebraska, Mississippi, Illinois
Three banks with total deposits of almost $2.3 billion were seized by regulators amid losses stemming from soured real-estate loans, raising to 81 the number of U.S. lenders that have collapsed this year. Read More Here
(EuroPacificCapital) – Key Indicators of a New Depression
With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned. But I will argue that a look under the proverbial hood reveals a very different picture. Read More Here
(Telegraph) – Solution to Unemployment? Wal-Mart to Create 500,000 New Jobs
Mike Duke, chief executive, told the retailer’s annual meeting that the company will add the 500,000 positions as it seeks to continue to grow globally and maintain its leading position in the US. Read More Here
(EconomicNoise) – Worse than a Depression – Read More Here
(SicSemper) – Video: Obama’s Teleprompter of Propaganda: “Our Economy is Getting Stronger by the Day.”
As the Bureau of Labor Statistics report is published for the month of May showing unemployment at 9.7% due to 322,000 workers leaving out of employment positions, President Obama read from his teleprompter more Orwellian Double-speak, stating “our recovery is still in its early stages, and there’s going to be ups and downs in the months ahead…… this report is a sign that our economy is getting stronger by the day.” View More Here
(GlobalResearch) – Europe is Headed For a Mini-depression – Mike Whitney – Read More Here
(WashingtonTimes) – FTC floats Drudge tax
The Federal Trade Commission (FTC) is seeking ways to “reinvent” journalism, and that’s a cause for concern. According to a May 24 draft proposal, the agency thinks government should be at the center of a media overhaul. The bureaucracy sees it as a problem that the Internet has introduced a wealth of information options to consumers, forcing media companies to adapt and experiment to meet changing market needs. FTC’s policy staff fears this new reality. Read More Here
(TPG) – Countdown to Crashdown
Heed This Warning, and You Could Gain 868%. Ignore It, and You Stand to LOSE HALF of Your Wealth. The Choice Is Yours… Read More Here
(PRWeb) – Investors Shun Market Volatility as Fear and Uncertainty Reign, Opting Instead For Precious Metals IRAs as Gold Nears All Time Highs – Read More Here
(FinancialPost) – World currency unit intended to rival U.S. dollar for supremacy
A new currency is intended to challenge the U.S. dollar as the world’s foremost reserve currency. The WOCU, short for world currency unit, was actually launched by London-based WDX Organization in September 2009, but only seems to be gaining recognition now. Read More Here – See Also: Flex Group
The WDX Organisation has developed a currency-basket instrument called the Wocu; available for commercial use from 1st January 2010, the same day WDX launched its commercial reference data products. Read More Here
(YahooFinance) – Video: $6 to $8 Gas? Prices Will “Skyrocket” If U.S. Stops Drilling, Says Former Shell Exec – View Video Here
(WDX) – WDX Institute: Forum for WOCU Related Research Read More Here
(BusinessInsider) – MARKETS RIPPED APART: Here’s What You Need To Know
Following two straight up days, it looked like the panic might be out of this market. Nope, not even close. Fresh Euro panics combined with signs of economic weakness in the US to savage markets.
(RealClearPolitics) – Census Worker Claims Job Numbers Are Being Inflated
“What they do is hire you, they train you like a few weeks — 35, 40 hours of training and give you six hours of productive work and lay you off.” a former Census named “Maria” tells FOX News. “Maria” further explains they rehire you so it counts as a new job.
(RussiaToday) – Video: Euro the focus of secret Bilderberg meeting: Charlie Skelton
“I hear from some people, Daniel Estulin has got sources inside, and he says the euro is on the top of the agenda. If the euro fails and the eurozone collapses, it’s been a lot of wasted talk. There’s talk, I have been speaking to some Spaniards here and they saying there’s whispers of returning to the peseta and that is not in the Bilderberg’s best interest,” said Skelton. Read the rest of this entry »
(Money&Markets) – China’s Currency Manipulation: About to Cause a Global Explosion? – Read More Here
(Guardian) – UK’s first ‘conservation credit’ scheme launched – Read More Here
(Fox) – Video: Freedom Watch – Who Owns the Gold in Ft. Knox?
Ludvig von Mises Institute Chair Lew Rockwell on auditing the Federal Reserve
(CNBC) – Video: Steve Wynn Takes On Washington
Steve Wynn, a casino resort/real-estate developer who has been credited with spearheading the dramatic resurgence and expansion of the Las Vegas Strip, talks about the Fall of America. Video Link Here
(GlobalResearch) – The European and U.S. Economies: Falling Dominoes – Shamus Cooke
Attempting to fix an unfixable problem can create new problems. Why is the global economy unfixable in the current context? For one, the cause of the depression is never mentioned in the mainstream media or politicians. And when a disease is misdiagnosed, a prescribed medication creates new afflictions.
Massive, bad debt is often cited as the cause of the global depression, but whythis debt existed in the first place is never discussed. Quite simply, the debt was needed to buy the products of corporations that wages once consumed. Over time, corporations drove down wages to out-compete each other while driving up profits, creating the global “demand” for credit, which the banks are now demanding be paid back. Read More Here
(BitsOfNews) – Pol/Econ: Deregulation and the Triumph of Wall Street
One year removed from a catastrophic, global, economic meltdown, and 26 months removed from the start of the credit crisis, our political establishment is either unwilling or unable to reform the system and punish the perpetrators of this debacle. The situation is so far beyond the pale that it makes one wonder if another catastrophe is even avoidable. Read More Here
(ZeroHedge) – Europe: A Continent Of Lies And Broken Promises; How The EU Elite Got It Wrong On The Euro – Tyler Durden
Openeurope.org.uk has put together a paper of the most blatant half-truths, propaganda, and outright lies, abused by Europe not only over the past month, but also over the past 10 years, for the entire duration of the now rapidly collapsing eurozone experiment. Read More Here
(Bloomberg) – Dow Ends Worst May Since 1940 On Spain Debt Downgrade, Korea Tensions
U.S. stocks slid, capping the worst May for the Dow Jones Industrial Average since 1940, while the euro slumped and Treasuries rose as a downgrade of Spain’s debt rating and escalating tensions on the Korean peninsula triggered a flight from riskier assets. Read More Here
(Rasmussen) – 80% Favor Auditing the Federal Reserve
Eighty percent (80%) of Americans now agree with Congress that auditing the Federal Reserve Board is a good idea, according to a new Rasmussen Reports national telephone survey.
Just nine percent (9%) oppose an audit of the Fed, and 12% more are not sure. Read More Here
(CSPAN) – Video: Moonbat Bachmann complains about $2 billion for raises for Americans – says we can’t afford it
Wait a minute – don’t we pay FAR more every year to a foreign terrorist country that has attacked us?
She doesn’t hesitate repeating the neocon lie about government workers making more than those in the private sector. She does not compare those with the SAME position as she claims – she uses “averages.” Well, government does not hire burger flippers. It is the new attack on the Middle Class – government workers are that, by and large. Video Link Here
(Examiner) – Ellen Brown: US economic reform creates full-employment, renewed infrastructure, zero national debt
Attorney and author of the brilliant Web of Debt, Ellen Brown, is among the leading US advocates of monetary reform and state-owned banks. Among Ellen’s articles is one worth highlighting for how quickly a national economy can turn from ruin to astounding productivity: Nazi Germany’s direct creation of money to pay for public goods and services. Read More Here
(PostGazetta) – Port Authority warned of layoffs, route cuts without more state aid – Read More Here
(RedactedNews) – Insider Trading Is Perfectly Legal – But Only For Members Of The U.S. Congress – Read More Here
REPOST – (CNBC) – Dollar Primed for Collapse by End June: Charts
The dollar’s recent strength has been explained by most market analysts as a result of the euro weakness rather than any fundamental support for the greenback. In fact, a closer look at the dollar’s chart – particularly the dollar index – suggests the currency may be primed for a collapse. Read More Here
(Money&Markets) – Credit Crisis Indicators Going Bonkers Again! Batten Down the Hatches!
Heads up people. Something very big is happening in the global credit markets — something you darn well better pay attention to. Read More Here
(EconomicPolicyJournal) – It’s the Bailout of the Banksters Before Greece Is Taken Down
WSJ has a remarkably to the point story explainning why Greece will end up restructuring, but that there will be a delay until the banksters are protected: Read More Here
(Boston) – Romania to cut wages despite strike threat
Romania will go ahead with sweeping wage, pension and benefits cuts despite unions’ threats to stage a general strike, Prime Minister Emil Boc said Wednesday. Read More Here
(DSNews) – Federal Reserve’s MBS Purchases Could Lead to Record Earnings of $70B – Read More Here
(TheEconomicCollapse) – The Depression Of 2011? 23 Economic Warning Signs From Financial Authorities All Over The Globe
Could the world economy be headed for a depression in 2011? As inconceivable as that may seem to a lot of people, the truth is that top economists and governmental authorities all over the globe say that the economic warning signs are there and that we need to start paying attention to them. The two primary ingredients for a depression are debt and fear, and the reality is that we have both of them in abundance in the financial world today. In response to the global financial meltdown of 2007 and 2008, governments around the world spent unprecedented amounts of money and got into a ton of debt. Read the rest of this entry »
