Economy

(CNBC) – Video: Euro to Collapse Within Months?

“In my view the euro will collapse within the next few months,” Max King, investment strategist at Investec Asset Management, told CNBC. “It’s completely unsustainable.” Northern Europe is doing fine but southern Europe is still in recession, he said. Video Link Here

(CNBC) – Dow Repeats Great Depression Pattern: Charts

The Dow Jones Industrial Average is repeating a pattern that appeared just before markets fell during the Great Depression, Daryl Guppy, CEO at Guppytraders.com, told CNBC Monday.“Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in 1930 we had another head and shoulders pattern that preceded a fall in the market, and in the current Dow situation we see an exact repeat of that environment,” Guppy said. Read More Here

(BusinessInsider) – Is America Really Free, If A Privately-Owned Central Bank Controls Our Currency And Runs Our Economy?

You see, the truth is that the U.S. government does not “print money” whenever it wants. Under the current system, in order to get more U.S. currency, the U.S. government has to borrow it. The Federal Reserve creates the new currency out of thin air and then either keeps the “U.S. Treasury bonds” they get in return from the U.S. government or they sell them off to others. But what kind of sense does that make? Why does a “free government” have to go into debt to print its own currency? It is the U.S. government that should be printing U.S. currency – not a privately-owned bank called the Federal Reserve. Read More Here

(InternationalForecaster) – Profits and Moves Behind the Downturn – Bob Chapman

The housing market is in serious freefall with builders scheduled to increase units by 535,000 this year. As sales fall so will big bank balance sheets. That means we are facing another credit collapse. Read More Here

(SteveWatson) – Economists, Financial Experts: U.S. Is Trapped In 1932 Size Depression

Following Nobel Laureate Paul Krugman’s declaration last week that the U.S. is in entering a third period of great depression, more and more economists are following suit, comparing the scale of the crisis to that of the early 1930s. Read More Here

(PressTV) – Eurozone jobless figure at record high

Eurozone’s unemployment figure continues to linger as around 16 million Euro currency users are still out of work, official data shows. Read More Here

(ProblemBankList) – FDIC’s Increased Use Of Loss-Share Program Enriches Some At Taxpayers Expense – Read More Here

REPOST (WebOfDebt) – WHO WILL PAY, WALL STREET OR MAIN STREET – THE TOBIN TAX OR THE VAT? – Ellen Brown

Wall Street banks have been saved from bankruptcy by governments that are now going bankrupt themselves; but the banks are not returning the favor. Instead, they are engaged in a class war, insisting that the squeezed middle class be even further squeezed to balance over-stressed government budgets. All the perks are going to Wall Street, while Main Street slips into debt slavery. Wall Street needs to be made to pay its fair share, but how? Read More Here

(NYTimes) – Illinois Stops Paying Its Bills, but Can’t Stop Digging Hole

Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo. Read More Here

(CNNMoney) – 7.9 million jobs lost, many forever

The government jobs report issued Friday shows that businesses have slowed their pace of hiring to a relative trickle. Read More Here

(Telegraph) – With the US trapped in depression, this really is starting to feel like 1932

The US workforce shrank by 652,000 in June, one of the sharpest contractions ever. The rate of hourly earnings fell 0.1pc. Wages are flirting with deflation. Read More Here

(DrRonPaul2012) – Video: Big Government and the Fed – A Sinister Alliance –

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