(TheEconomicCollapse) – 11 Reasons Why The Federal Reserve Is Bad – Read More Here
(SteveWatson) – Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew – Is the offshore banking takeover still a conspiracy theory? – Read More Here
(WashingtonsBlog) – The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water
Bernanke announced additional quantitative easing yesterday, primarily in the form of buying treasuries to monetize the U.S. debt.
Jeff Harding points out that those worried about deflation within the Fed won out over the scared-of-inflation camp: Read More Here
(CNBC) – Youth Unemployment Hits Record High – Read More Here
(NYTimes) – Debts Rise, and Go Unpaid, as Bust Erodes Home Equity – Read More Here
(BusinessJournal) – Survey: 40 percent of U.S. professionals want to quit – Read More Here
(Gallup) – Spending Slumps Even With Back-to-School Underway – Read More Here
(TruthDig) – The Rubin Con Goes On
The corruptions of journalism were on full display when CNN’s Fareed Zakaria turned to Robert Rubin this past Sunday for advice on how to fix the financial crisis that he, as much as anyone, caused. I was trapped on a treadmill in front of an overhead television and unable to turn the thing off in time to avoid this assault on my mental and physical health. Read More Here
(TheTruth) – No Recovery in Sight: 40 Statistics which Confirm the Collapse of the U.S. Economy – Read More Here
(GlobalResearch) – “Unregulated Greed has Destroyed the Capitalist System”: The Big Things That Matter And The Little Things That Annoy – Paul Craig Roberts – Read More Here
(TheEconomicCollapse) – 15 Economic Statistics That Just Keep Getting Worse Read More Here
REPOST – (InterForecaster) – Economy Teeters On The Brink and Market Manipulation Continues – Bob Chapman – Read More Here
(AP) – Video: Foreclosures Continue to Rise – Video Link Here
(MikeKarnj) – College, Inc.
I believe we will witness something just as globally shattering with the looming crash of higher education loans. The rising cost of higher education coupled with the diminishing value of college degrees can only lead to a downhill spiral. Read More Here
(PMQ) – Wheat Prices Soar. Are Bread Prices Next?
“The price of wheat has surged more than 80% from its seven-month low in June, rallying to its highest level since August 2008 this week, as Russia said it would ban grain exports until Dec. 1 due to a drought that has destroyed more than 20% of its wheat crop. Prices retreated Friday but still remain up 10% for the week. Read More Here
(Neithercorp) – U.S. Dollar Now Ripe For Catastrophic Devaluation – Read More Here
(CBSNews) – Foreclosures Surge 9% from June to July
Increasing Repossessions a Sign that Lenders Moving Fast to Reclaim Homes from People Behind on Payments Read More Here
(Bloomberg) – Wells Fargo Must Pay Consumers $203 Million in Overdraft Case
A judge ordered Wells Fargo & Co. to stop manipulating debit-card transactions without consumers’ knowledge to increase revenue from overdraft fees while ruling the bank should pay about $203 million to customers because of the practice. Read More Here
(IrishCentral) – Zombie bank to cost Irish taxpayers billions more – Anglo Irish debts tip of the iceberg? – Read More Here
(Fortune) – Why the Social Security trust fund is useless
It’s one of the world’s biggest piles of funny money, but when the deficits get out of hand, no one will be laughing. Read More Here
(PaulWatson) – Fed Leads America “To The Brink Of Collapse”
When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.
Following in the footsteps of the New York Times’ David Krugman, who in June wrote that the United States had entered a third depression similar to the Long Depression of the 19th century, CNN Money carried an article yesterday brazenly entitled, Is this finally the economic collapse?.
The piece, written by Keith R. McCullough, points out that the Fed’s announcement that it will start buying Treasury debt, is a “crossing the Rubicon” moment and “could lead the country to the brink of collapse”. Continue reading