The Panic Is On!

What this country is coming to
I sure would like to know
If they don’t do something bye and bye
The rich will live and the poor will die
Doggone, I mean the panic is on!

–Song from the Great Depression

(RevoltofthePlebs) – As the Great Depression of the 1930’s was getting underway, President Herbert Hoover refused to acknowledge it.  In the weeks following the events of Black Tuesday, Hoover called the economy “fundamentally sound.”  Months later, he still insisted that the strength of the American economy was “unimpaired.”  However, by 1931 he could no longer hide the truth.  With the economy in shambles, Hoover was forced to declare that America was indeed in a ‘depression’.  He chose the word ‘depression’ because he believed it to somewhat innocuous and far less provocative than terms like ‘panics’ or ‘crises’ that had previously been used to refer to significant economic downturns. Continue reading

10 Million Americans Disappeared during the Great Depression Time

FLASHBACK – Feb 2009 – While America lectures Russia on the 1932-33 famine in Ukraine, Russian historian Boris Borisov asks what became of over seven million American citizens who disappeared from US population records in the 1930s. Read More Here

The Expiring Economy – Paul Craig Roberts

Tent cities springing up all over America are filling with the homeless unemployed from the worst economy since the 1930s. While Americans live in tents, the Obama government has embarked on a $1 billion crash program to build a mega-embassy in Islamabad, Pakistan, to rival the one the Bush government built in Baghdad, Iraq. Continue reading

Ed Balls: minister fears rise of fascism amid economic gloom

The economic crisis could spark a resurgence in the Far Right, a close ally of Gordon Brown has suggested.

Ed Balls, the Childrens and Schools Secretary, said the downturn was likely to be the most serious for 100 years, and his comments appeared to raise the prospect of a return to the Far Right politics of the 1930s and the rise of Fascism. Continue reading