Nobel Prize Winning Economist: Crisis As Bad As Great Depression Or Worse

Two time Nobel-prize winner and former chief economist of the World Bank, Joseph Stiglitz has warned that the current financial crisis will continue for at least another eighteen months and in many ways represents a worse situation than the one faced by Americans during the great depression of the 1930s.

The 9/11 Reichstag Fire

“This (9/11) was all planned. This was a government-ordered operation. Bush personally signed the order. He personally authorized the attacks. He is guilty of treason and mass murder.” –Stanley Hilton [Pakistan Daily]

Reichstag fire, burning of the Reichstag (parliament) building in Berlin, on the night of Feb. 27, 1933, a key event in the establishment of the Nazi dictatorship and widely believed to have been contrived by the newly formed Nazi government itself to turn public opinion against its opponents and to assume emergency powers … his propaganda minister, Joseph Goebbels, is supposed to have devised the scheme. … On Feb. 28, 1933, the day after the fire, Hitler’s dictatorship began with the enactment of a decree “for the Protection of the People and the State,” which dispensed with all constitutional protection of political, personal, and property rights.

Encyclopaedia Britannica

The Rise of the Fourth Reich

Everyone likes to say, “Hitler did this”, and, “Hitler did that”. But the truth is Hitler did very little. He was a world class tyrant, but the evil actually done by the Third Reich, from the slave-labor camps to WW2 was all done by German citizens who were afraid to question if what they were told by their government was the truth or not, and who because they did not want to admit to themselves that they were afraid to question the government, refused to see the truth behind the Reichstag Fire, refused to see the invasion by Poland was a staged fake, and followed Hitler into national disaster.The German people of the late 1930s imagined themselves to be brave. They saw themselves as the heroic Germans depicted by the Wagnerian Operas, the descendants of the fierce Germanic warriors who had hunted wild boar with nothing but spears and who had defeated three of Rome’s mightiest legions in the Tuetenberg Forest.

But in truth, by the 1930s, the German people had become civilized and tamed, culturally obsessed with fine details in both science and society. Their self-image of bravery was both salve and slavery. Germans were required to behave as if they were brave, even when they were not.

Palin To Speak At Anti Iran Rally

Sarah Palin will speak at next week’s Israeli-sponsored rally to protest Mahmoud Ahmadinejad at the United Nations.

Panic in world credit markets reached historic intensity on Wednesday.

The panic in world credit markets reached historic intensity on Wednesday, prompting a flight to safety of the kind not seen since the second world war.

Barometers of financial stress hit record peaks across the world. Yields on short-term US Treasuries hit their lowest level since the London Blitz, while gold had its biggest one-day gain ever in dollar terms. Lending between banks, in effect, stopped.
Speculation mounted that the Federal Reserve, which refused to cut rates on Tuesday, could be forced into an embarrassing U-turn or might further expand its market liquidity operations.

Economy – Sen. Reid Says Congress Won’t Act Because `No One Knows What to Do’

Congress is unlikely to pass new legislation to overhaul financial regulations this year “because no one knows what to do,” Senate Majority Leader Harry Reid told reporters today.

VIDEO: No Bushvilles(tent cities) in this depression!! – St. Petersburg Police cutting up homeless tents

Homeless people no longer have rights to personal property as this economy slides.  They used to just move them to a different location. Now they may send you to a relocation center, with at least, government issued blanket’s… after they cut your old one up that is.  Expect roaming gangs of young people terrorizing the land and government going around boot-stomping every person that seems or ‘looks’ out of line.

The transformation of the USA into the USSRA (United Socialist State Republic of America)

The transformation of the USA into the USSRA (United Socialist State Republic of America) continues at full speed with the nationalization of AIG

Video: MSM – Peter Schiff & Steven Keen on Dateline(Australia)

The Biggest Bailout in US History

The Point of No Return

Dictators do not appear overnight. They must gradually assume more and more power over time so that the population does not realize what is going on, or does not feel it is worthwhile to object.

But to maintain control, dictators “seduce” their population into greater and greater atrocities, over time. There is more than simply acclimating the population involved to the dictator’s agenda. By tricking the population into acceptance of greater and greater atrocities, the dictator will eventually reach a position where the people will be too afraid to examine what they themselves have become. Trapped by the fear of examining themselves, such people turn into the most fanatical of the dictator’s supporters. They dare not look at the dictator’s evil for to do so is to look at their own.

The Army’s Totally Serious Mind-Control Project

Soldiers barking orders at each other is so 20th Century. That’s why the U.S. Army has just awarded a $4 million contract to begin developing “thought helmets” that would harness silent brain waves for secure communication among troops. Ultimately, the Army hopes the project will “lead to direct mental control of military systems by thought alone.”

MSM: IAEA info suggests Iran worked on nuclear missile

The U.N. nuclear monitoring agency shared new photos and documents purporting to show that Iran tried to refit its main long-distance missile to carry a nuclear payload, said diplomats who attended the meeting Tuesday.

Responding to the presentation to the 35-nation board of the International Atomic Energy Agency, a senior U.S. envoy said the information was compelling evidence against the Islamic Republic. His Iranian counterpart said the material shown was fabricated.

Predictive Programming: Mel Gibson Movie – Conspiracy Theory (1997 Film)

his rather blatant caricature of the conspiracy theorist (or researcher), an acting performance that admittedly perhaps can only be accomplished by someone of the caliber of Mel Gibson, sets the freakish tone for the entire movie. Viewers are thus left with the notion that basically conspiracy theorists are individuals automatically suffering from various expressions of psychopathology, namely: hyperactivity, delusions and paranoia.

US To Declare October ‘Economic Emergency’, Suspend Elections

The Federal Security Service of the Russian Federation (FSB) is reporting in the Kremlin today that the Bank of England has received from the United States Federal Reserve Bank a ‘notice’ that President Bush is preparing to declare an ‘Economic Emergency’ during the week of October 5^th and will further announce that the American Presidential election due to be held on November 4^th will be ‘indefinitely suspended’.

The Denouement

Denouement (n) — The unraveling of a plot; a catastrophe….

From Webster’s Unabridged Dictionary (1913)

There is something supernally appropriate to the fact that, in order to find the most suitable definition for just right word to describe the ongoing crisis of the financial system, we have to refer to a dictionary published in 1913.

We are now into the second year of the unraveling of the world financial system. It could be described as the Great Denouement (or final act) of a plot that began in 1913, when Congress created the Federal Reserve System, aka the Focus of Evil in the Modern World. So far the effects of the unraveling have had minimal impact on the larger economy.

This is about to change.

Schwarzenegger to veto California budget, a first in modern times

California Gov. Arnold Schwarzenegger says he will veto a state budget passed after a 78-day stalemate, setting up a historic showdown with the Legislature.

As the San Francisco Chronicle explains, the proposed budget sought to close a $17 billion deficit for the fiscal year that began July 1 without new taxes, a demand by Republicans. It did so by requiring all taxpayers to make earlier and larger tax payments to the state government.

Schwarzenegger, a Republican, made the announcement this afternoon. The veto will mark the first time in modern history that a California governor has rejected a state spending plan. The Democrat-controlled Legislature has said it is prepared to override a veto.

US Economy: Rudderless and Reeling From Direct Hits – Paul Craig Roberts

We were promised a “New Economy” of high-tech tradable services to take the place of the offshore manufacturing economy. Wondering what had become of the “New Economy,” Duke University’s Offshoring Research Network searched for it and located it offshore. Yes, the activities of the “New Economy” are also outsourced offshore.

Call centers, IT operations, back-office operations, and manufacturing have long been moved offshore. Now high-value-added proprietary activities such as research and development, engineering, product development, and analytical services are being sent offshore. All that’s left is finance, and it is crumbling before our eyes.