Economy 11-12-11

12th November 2011

(DailyMail) – Obama reads riot act to European leaders and orders them to take more dramatic action – Read More Here

(SHTFPlan) – Fake Silver and Gold Flood Global Markets; 100,000 Coins From A Single Counterfeiter! – Read More Here

(EconomicCollapse) – Bernanke Says That Any Criticism Of The Federal Reserve Is Based On “Misconceptions” – Read More Here

(NaturalNews) – Housing market continues its freefall as 14 million Americans descend into negative equity – Read More Here

(EuroPac) – The Beginning of the End of Fiat Money

The argument for the dollar and against gold is simplistic, and I will evaluate it against the four-stage collapse I see ahead for the Western currencies. Read More Here

(Telegraph) – France plots eurozone ‘breakaway group’ – Read More Here

(Guardian) – UK Treasury prepares for ‘economic armageddon’ if euro falls apart – Read More Here

(Forbes) – Alabama Senate approves school budget, cuts jobs

The Alabama House and Senate have passed slightly different versions of the state education budget that agree on two key points: Cutting nearly 1,200 teaching jobs and keeping students in school for the traditional 180 days. Read More Here

(Guardian) – Eurozone debt crisis live: Markets surge as Papademos sworn in as Greek PM – Read More Here

(CNN) – Italy’s Senate approves austerity plans – Read More Here

(PaulWatson) – It’s The End Of The Eurozone As We Know It

But the agenda for centralized economic tyranny remains the same Read More Here

(PatrickHenningsen) – Obama administration trying to tax our Christmas trees

As with all federally mandated stealth taxes, the consumer normally ends up paying double or triple the levy, as businesses use new tax announcements as an excuse to increase their own profits. This one is a tax on the growers, so naturally it will be passed on the seller, and the customers. Read More Here

(Telegraph) – Eurozone collapse ‘will send continent into depression’

The collapse of the eurozone would cause a crash that would instantly wipe out half of the value of Europe’s economy, plunging the continent into a depression as deep as the 1930s slump, the president of the European Commission has warned.

José Manuel Barroso issued his chilling warning as France began diplomatic overtures to create a eurozone vanguard, potentially with fewer than the 17 existing members of the single currency.

Mr Barroso said that if the euro area of the 17 member states or the wider
27-country EU broke apart the estimated initial cost would be up to 50 per cent of European gross domestic product. “It would jeopardise the future prosperity of the next generation. That is the threat that hangs over us,” he said.

In a speech in Berlin aimed at tackling any support for a smaller elite eurozone comprised of the EU’s strongest economies, Mr Barroso warned that the consequence of a split would be a million lost jobs in Germany. Full article here

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“Economic Armageddon”: Washington’s Response to a Failed Ecomomy: More War – Dr. Paul Craig Roberts

1st August 2011

(Infowars) – As the second decade of the 21st century began, the US economy had not recovered from the Great Recession that began in December 2007. Read the rest of this entry »

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