August 12, 2010 – Continue reading
Tag Archives: depression
Video: Paul Watson – Fed Leads America “To The Brink Of Collapse” – Alex Jones Tv
August 12, 2010 – Continue reading
Video: Gerald Celente on Freedom Watch
Video: Gerald Celente On the Alex Jones Show – Double Dip Depression Will Lead Us Into War
The white shoe boys are taking us into the worst depression in history. Continue reading
Video: Gerald Celente on RegularGuys Radio – Why We are in a big hole
(RegularGuysRadio) – August 4, 2010 – Continue reading
Video: Celente – US oligopoly is a big lie
(RussiaToday) – August marks the three year anniversary of the beginning of the financial crisis. The collapse continues today, said Gerald Celente of the Trends Research Institute. Celente says that by focusing on the Great Depression, government experts are focused on the past and are neglecting the future. The Great Depression is history, argued Celente, saying it is time to look to the future, not the past. Continue reading
Video: Gerald Celente on Dr. Bill Deagle Nutrimedical Report
Why Not Another World War? – Peter Schiff
(C4L) – There is overwhelming agreement among economists that the Second World War was responsible for decisively ending the Great Depression. When asked why the wars in Iran and Afghanistan are failing to make the same impact today, they often claim that the current conflicts are simply too small to be economically significant.
There is, of course, much irony here. No one argues that World War II, with its genocide, tens of millions of combatant casualties, and wholesale destruction of cities and regions, was good for humanity. But the improved American economy of the late 1940s seems to illustrate the benefits of large-scale government stimulus. This conundrum may be causing some to wonder how we could capture the good without the bad.
If one believes that government spending can create economic growth, then the answer should be simple: let’s have a huge pretend war that rivals the Second World War in size. However, this time, let’s not kill anyone. Continue reading
Video: Robert Dinozzi & Brian Kraft Talk About Their Documentary, The Fall of America – Alex Jones Tv
Alex talks with writer, director, and producer Brian Kraft and Robert DiNozzi about Kraft’s The Fall of America and The Western World, an 8+ hour documentary. The video explores the current economic crisis, the Federal Reserve, the emerging police state, the globalist agenda, and how political agendas in media have destroyed our ability to get real news. Robert DiNozzi was the executive producer of Flightplan, a 2005 feature film starring Jodie Foster. Continue reading
Homeland Security for Whom?
(LewRockwell) – The Washington Post has published a splashy exposé about the mammoth “homeland security” intelligence empire that now burdens the United States, financially and ideologically.
As usual, however, there is no real historical context. And that lack of context is part of the story – not just the current dimensions of the empire.
I wrote the following article for Penthouse in the summer of 2003. It was reprinted by CounterPunch later that summer.
At the time I said: “This homeland security boondoggle is the biggest reorganization of the U.S. government in 50 years. It might even bankrupt the country and, perhaps intentionally, throw it into a Depression. That remains to be seen. What is certain is that at a cost of $50 billion in taxpayer’s money, the homeland security infrastructure will provide Bush with 170,000 political cadres, and the internal security he needs to assure the continuity of his political power indefinitely. Except for providing Bush with political internal security, there is no need for the Department of Homeland Security; it is a Trojan Horse through which Bush will unleash his ideological storm troopers and exploit his ill-gotten power to achieve permanent political dominance.” Continue reading
Video: Infowars.com Poll – Majority Believe Road Warrior Depression Coming
(KurtNimmo) – An Infowars.com poll posted last week reveals that nearly 60% of respondents believe the United States is headed for a “road warrior” economic depression. 17% believe the country is headed for a depression no worse than the Great Depression, while 13% think the economic crisis will continue along its current trajectory and not get worse. 5% of respondents believe the economy will turn around as Obama and the government promises. Continue reading
Video: Paul Watson – America Stands On The Precipice Of Total Collapse! – Alex Jones Tv
There can be little doubt that America, along with the west as a whole, is being set up for a total collapse in which life as we know it will be fundamentally altered and rebuilt around a collectivist model managed and controlled by the same criminals who engineered the crisis in the first place. Continue reading
Economy
(LATimes) – U.S. home foreclosures reach record high in second quarter
Bank repossessions increased 38% in the second quarter from the same period a year earlier for a record total of 269,952, according to data to be released Thursday by RealtyTrac. Read More Here
(CounterPunch) – How Bank of America Got Away With a Huge Swindle – Read More Here
(TechTicker) – The U.S. Middle Class Is Being Wiped Out: Here’s the Stats to Prove It
The 22 statistics detailed here prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America. Read More Here
(TheComingDepression) – World At Risk Of Folding In On Itself
The global economy is at risk of folding in on itself unless policy makers face up to the threat of inflation and exchange rate inflexibility, according to Arun Motianey, director of fixed income strategy at Roubini Global Economics. Read More Here
(TheComingDepression) – The Housing Depression – Read More Here
(EconomicCollapse) – The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Pissed Off And Frustrated – Read More Here
(AP) – Dollar slides after Greek debt auction bolsters confidence in Europe, while US data weak
The dollar has drifted lower after Greece successfully sold debt to investors while U.S. economic data remained weak. Read More Here
(MoneyNews) – Obama Panel Warns Governors: Debt Will Destroy US Like a Cancer – Read More Here
(InfoClearingHouse) – The Fed is Steering the Economy into Deflation – Mike Whitney – Read More Here
(12160Org) – Fear Index rises to 16-year high
The Fear Index has risen to a 16-year high. As of June 30th, the Fear Index is 2.35%, based on M3 data made available by shadowstats.com. Here is the formula and calculation for June 30th: Read More Here
Video: Alex Jones Tv: The Private Planetary Banking Cartel Designed This Depression!
Alex starts off the show with a strong message and a reminder of who is causing all of these global depressions and what they stand to gain if they succeed. Continue reading
Video: Road Warrior-level collapse imminent – Alex Jones says we must take corrective action now
(AlexJones&AaronDykes) – Move towards global currency as U.S. loses status, faces depression and sees dangerous cuts to services as economic instability sets in
The United States as we know it has ended, Alex Jones warns, as the nation has lost its credit rating with China, its Dollar reserve status and faces saddling debt and cuts in programs and services. Continue reading
America Stands On The Precipice Of Total Collapse
(PaulWatson) – World government to be built from the ashes of the United States unless nightmarish agenda for new world order is defeated – Continue reading
Obama’s Summer of Misery and Hardship Tour Hits the Road
(KurtNimmo) – Let’s put Lindsay Lohan’s fear of jail aside for a moment and turn to Obama’s Summer Recovery Tour 2010. Obama’s apparatchiks “will fan out across the country over the next few days to spread the message to voters about how effective their $787 billion recovery plan has been,” The Hill reported earlier this week. “Obama and the White House take comfort the economy is moving in the right direction. They point out that the economy has added jobs in six of the last seven months and stress that when Obama took office the economy was losing 750,000 jobs a month.”
Has it really? Less than a month ago Joe Bite Me said jobs have gone away and they are never coming back. Biden said “there’s no possibility to restore 8 million jobs lost in the Great Recession” and folks should get used to it. “We inherited a godawful mess,” he said and glibly added that there was “no way to regenerate $3 trillion that was lost. Not misplaced, lost.”
It wasn’t lost and Joe knows it. It was stolen. Trillions went directly to the banksters. They defiantly refused to tell Congress and the American people where it all went. In December of 2008, as the engineered Greatest Depression was gaining steam, the Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of “emergency loans” billed to future generations of American debt slaves. Continue reading
Economy
(ActivistPost) – Economic Hitmen Come for Their ‘Pound of Flesh’ in New Jersey
It was reported today that New Jersey’s Governor Christie is proposing privatization of many public services. This is the precise playbook of “Economic Hitmen” aka Banks. First, they loan ridiculous amounts of money to the public sector, knowing full well these loans can never be repaid and when state bankruptcy looms, the public infrastructure is auctioned to pirates of industry for pennies on the dollar. Read More Here
(SeekingAlpha) – Look Out Below: The Baltic Dry Index Is in Freefall – Read More Here
(RTTNews) – Regulators Shut Down Four Banks
On Friday, regulators closed four banks in the U.S. bringing the total number of bank failures to 90 so far this year. The failed banks are Bay National Bank, Baltimore, Maryland, Ideal Federal Savings Bank, Baltimore, Maryland, USA Bank, Port Chester, New York and Home National Bank, Blackwell, Oklahoma. Read More Here
(AboveTopSecret) – 46,000 Dairy Farms Closed Down in Last 10 Years
Times are especially bad for dairy farmers across the United States. About 40% of all dairy farms
(or 46,000) went out of business over the last 10 years, due to falling milk prices and rising costs. Farmers went from getting $21.70 per hundred pounds of milk to $11.30 from 2007 to 2009, while animal feed costs increased 35% and fuel prices rose 30%. Read More Here
(CharlieVLog) – The Collapse Is Upon Us
(AspenDaily) – Historian warns of sudden collapse of American ‘empire’
Harvard professor and prolific author Niall Ferguson opened the 2010 Aspen Ideas Festival Monday with a stark warning about the increasing prospect of the American “empire” suddenly collapsing due to the country’s rising debt level.
“I think this is a problem that is going to go live really soon,” Ferguson said. “In that sense, I mean within the next two years. Because the whole thing, fiscally and other ways, is very near the edge of chaos. And we’ve seen already in Greece what happens when the bond market loses faith in your fiscal policy.” Continue reading
Video: America will Collapse – featuring Jim Rogers Marc Faber and Gerald Celente
Economy
(MarketOracle) – SULTANS OF SWAP: BP Collapse Potentially More Devastating than Lehman!
As horrific as the gulf environmental catastrophe is, an even more intractable and cataclysmic disaster may be looming. The yet unknowable costs associated with clean-up, litigation and compensation damages due to arguably the world’s worst environmental tragedy, may be in the process of triggering a credit event by British Petroleum (BP) that will be equally devastating to global over-the-counter (OTC) derivatives. The potential contagion may eventually show that Lehman Bros. and Bear Stearns were simply early warning signals of the devastation lurking and continuing to grow unchecked in the $615T OTC Derivatives market. Read More Here
(DailyFinance) – Wall Street Apocalypse: The World of the Doomsday Investors – Read More Here
(Guardian) – Graduates warned of record 70 applicants for every job
Class of 2010 told to consider flipping burgers or shelf stacking to build skills as they also compete with last year’s graduates Read More Here
(DetroitNews) – Foreclosures plague Metro area towns – Read More Here
(DailyFinance) – Facing a $7 Billion Shortfall, the U.S. Postal Service Proposes to Raise Rates – Read More Here
(MaineBiz) – Maine foreclosures still rising – Read More Here
(Telegraph) – Europe’s ‘toothless’ bank tests making matters worse
RBS and other City institutions have warned that Europe’s stress tests for banks are almost useless and may further damage confidence if they fail to cover the risk of large losses on sovereign defaults by Greece and other Club Med states. Read More Here
(HuffingtonPost) – Reps. Paul & Frank: Why We Must Reduce Military Spending
By far the single most important of these is our current initiative to include substantial reductions in the projected level of American military spending as part of future deficit reduction efforts. For decades, the subject of military expenditures has been glaringly absent from public debate. Yet the Pentagon budget for 2010 is $693 billion — more than all other discretionary spending programs combined. Even subtracting the cost of the wars in Iraq and Afghanistan, military spending still amounts to over 42% of total spending. Read More Here
(NewAmericanEmpire) – Debt Deflation: A Long Economic Winter Ahead – Prof. Rodrigue Tremblay
The bond market is telling us that there could be hard economic times ahead and that deflation, for the time being, is more of a threat than inflation. Leading indicators are also pointing to possible economic weakness ahead. Read More Here
(MikeWhitney) – More Red Flags for the Economy
Bonds are signaling that the recovery is in trouble. The yield on the 10-year Treasury (2.97 percent) has fallen to levels not seen since the peak of the crisis while the yield on the two-year note has dropped to historic lows. This is a sign of extreme pessimism. Read More Here
(NECN) – Video: Mass. town will charge to keep street lights on – Video Link Here
(CharlieVLog) – Video: REALITY IS CLOSING IN
See Also: (CharlieVLog) – Video: Fast Track To The Bottom – Video Link Here
(PuppetGov.coM) – Video: America’s Controlled Economic Implosion – Video Link Here
(July 5) – Video: Alex Jones – It Feels like It’s 1932
(Bloomberg) – Sovereign Default Risk Rose 30% as European Debt Crisis Deepened, CMA Says – Read More Here
(NewsWeek) – Worse Than Wall Street – How shaky European banks could tip the world back into recession. – Read More Here
(TheEconomicCollapse) – No Jobs
Everyone knows that the United States is bleeding jobs. According to one new study, the private sector in the United States has lost 10.5 million jobs since 2007. The U.S. economy lost 125,000 more jobs during the month of June. Approximately a million frustrated American workers have simply dropped out of the employment market altogether over the past two months. But the question not enough people are asking is why so many jobs are being lost. Read More Here
(LVRJ) – WAYNE ALLYN ROOT: Barack Obama: The great jobs killer
As former President Ronald Reagan might have said, “Obama, there you go again.”
The current occupant of the White House claims to know how to create jobs. He claims jobs have been created. But so far the score is Great Obama Depression 2.2 million lost jobs, Obama 0 — a blowout. Read More Here
(TheStar) – A stock market forecast that says ‘take cover’
With the stock market lurching again, plenty of investors are nervous, and some are downright bearish. Then there’s Robert Prechter, the market forecaster and social theorist, who is in another league entirely.
Prechter is convinced we have entered a market decline of staggering proportions – perhaps the biggest of the last 300 years. Read More Here
(SeekingAlpha) – Cecchini: U.S. Consumers in ‘Dire’ Credit Situation
Peter Cecchini, chief strategist at BGC Financial, talks to Pimm Fox about the U.S. economy and consumer credit on Bloomberg Television’s “Taking Stock.” He says that the 122% percent household debt to GDP ratio is well above the pre-1980 average of 60-80%. Just to get back to a 100% to GDP ratio, we need an additional $2 trillion of deleveraging. In the absence of income growth, you just aren’t going to get these numbers down without deleveraging. Read More Here
(RevoltOfThePlebs) – Government Math… FOR KIDS!
Did you know that you and I can create millions, billions and even trillions of numbers just as easily as the Federal Reserve? All you have to do is use your imagination. Let’s try it! Read More Here
(Infowars) – California Implodes
California is the wealthiest and most populous State in America, and Los Angeles County is the largest county in America, so both the State and LA County wield unbelievable power in Washington D.C. The corruption in California affects you directly.
• How would you feel if you knew your federal tax dollars were being used to finance California’s corruption?
• You may be surprised to learn that the California State Legislators and the LA County Supervisors went to Washington D.C. to obtain the maximum federal funding for their extensive welfare, medical and illegal alien imprisonment programs, in order to claim the federal tax payer money in an end run around the other states.
• Imagine the end of the democratic process through judicial corruption, like that in LA County, replicated in your community.
Video: Max Keiser – Goldman Sachs – The Real Pirates behind America’s Economic Implosion
(July 2) – Alex talks with Max Keiser about who the real criminals are behind the implosion of the american economy. Continue reading
Video: Gerald Celente – We’re Going into The Greatest Depression and WW 3 – Alex Jones Tv
(July 2) – Alex also talks with trend forecaster, publisher of the Trends Journal, business consultant and author Gerald Celente. Continue reading
MSM: Lives destroyed by happy pills: As our use of antidepressants DOUBLES in a decade, experts say thousands are being given dangerous drugs they don’t need
(DailyMail) – Increasing numbers of Britons are taking antidepressant drugs, with prescriptions doubling over the past ten years, according to a report this month. In 2000, there were 20 million prescriptions – this rose to 39 million last year.
While this rise is partly being blamed on the recession, experts are concerned that misdiagnosis is a major factor. Indeed, a study published recently in The Lancet found that the average GP will wrongly diagnose 16 out of every 100 patients they see with depression and anxiety. Read More Here
See Also:
(Rense) – Medically-Caused Deaths In America – An Exclusive Interview With Barbara Starfield
The American health system, like clockwork, causes a mind-boggling number of deaths every year.
The figures have been known for a decade. The story was covered briefly when a landmark study surfaced, and then it sank like a stone.
The truth was inconvenient for many interests. That has not changed. “Medical coverage for all” is a banner that conceals ugly facts. Read More Here
Economy
(GunsNButter) – Audio: On the Destructive Nature of the Global Economic System – Bonnie Faulkner Interviews Michel Chossudovsky – Audio Link Here
(NYTimes) – NY Times’ Krugman: We Are Entering The Third Depression
We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. Read More Here
(CNN) – Video: Clinton – U.S. Budget Is Broken – View Video Here
(LondonTelegraph) – RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve
As recovery starts to stall in the US and Europe with echoes of mid-1931, bond experts are once again dusting off a speech by Ben Bernanke given eight years ago as a freshman governor at the Federal Reserve. Read More Here
(LewRockwell) – Suiting Up for a Post-Dollar World
The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie’s choice between social unrest and bankruptcy. But with the “Club Med” economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated. Read More Here
(StarAdvertiser) – Huge tent city takes root
Homeless camps cover 50 acres, from Waipio Point, around Middle Loch to Pearl City Read More Here
REPOST – (WSWS) – Senate Democrats and Obama abandon the jobless
Senate Democrats gave up efforts to extend unemployment benefits for millions of jobless workers after the third vote on overcoming a Republican filibuster failed. The final vote Thursday was 57 to 41, three votes short of the 60 necessary to cut off debate, with one Democrat, Ben Nelson of Nebraska, joining a unanimous Republican opposition. Read More Here
(Bloomberg) – Merkel Warns European Crisis is Far From Over, Wall Street Journal Reports – Read More Here
(GlobalResearch) – BOOK LAUNCH: The Global Economic Crisis: The Great Depression of the XXI Century – Michel Chossudovsky and Andrew Gavin Marshall – Read More Here
(EurasiaReview) – Europe’s Fiscal Dystopia: The “New Austerity” Road – Michael Hudson
Europe is committing fiscal suicide – and will have little trouble finding allies at this weekend’s G-20 meetings in Toronto. Despite the deepening Great Recession threatening to bring on outright depression, European Central Bank (ECB) president Jean-Claude Trichet and prime ministers from Britain’s David Cameron to Greece’s George Papandreou (president of the Socialist International) and Canada’s host, Conservative Premier Stephen Harper, are calling for cutbacks in public spending. Read More Here
(BBC) – Romania plans big VAT rise to secure bail-out funds – Read More Here
(RegionalTimes) – IMF stops next tranche of loan to Pakistan till imposition of VAT Read More Here
Climategate
(LATimes) – Senate Democrats poised to start energy bill
With the gulf oil spill creating political opportunity, Senate Democrats will begin crafting a sweeping energy bill this week that could include a first-ever, though more modest, cap on global-warming pollution, believing they must act now despite differences within their ranks and political jitters in an election year.
(Guardian) – Gillard bids to revive Australia’s stalled carbon trading scheme
Australia’s new prime minister, Julia Gillard, today moved to revive a stalled carbon trading scheme, pledging more consultation with industry and voters to win support for an issue that has divided the nation. Read More Here
Economy
(YahooTechTicker) – REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet
In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.
The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak.
That rally, of course, was also the biggest sucker’s rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. Read More Here
(HuffingtonPost) – Long-Term Unemployed Now 46 Percent Of Unemployed, Highest Percentage On Record
The proportion of people jobless for six months or more has accelerated in the past year and now makes up 46 percent of the unemployed. That’s the highest percentage on records dating to 1948. By late summer or early fall, they are expected to make up half of all jobless Americans. Read More Here
(InfoClearingHouse) – Europe Chooses Depression – Mike Whitney
Forget about a smooth recovery. Finance ministers and central bank governors of the G-20, met this weekend in Busan, South Korea and decided to abandon “tried and true” expansionary fiscal policies for their own strange brew of belt-tightening policies and austerity measures. Read More Here
(EuroPacificCapital) – Key Indicators of a New Depression
With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned. But I will argue that a look under the proverbial hood reveals a very different picture. I believe the data shows that the US economy is badly damaged, and a modern-day depression has begun. In fact, just as World War I was originally called The Great War (and was retroactively renamed after World War II), Peter Schiff has said that one day the world will refer to the 1929-41 era as Great Depression I, and the current period as Great Depression II. Read More Here
(Bloomberg) – U.S.’s $13 Trillion Debt Poised to Overtake GDP: Chart of Day – Read More Here
(AP) – Financial crisis panel subpoenas Goldman
A panel probing the causes of the financial meltdown has issued a subpoena for documents from Goldman Sachs Group Inc., accusing the firm of stonewalling an investigation. Read More Here
(PaulWatson) – Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns
A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.
With gold smashing through its all time record high this morning on the back of fears over a double dip recession, analysts are turning increasingly bearish on the markets. Anthony Fry, senior managing director at Evercore Partners, told CNBC that the bond markets could turn nasty over the next few months and said that the current problems created by the European debt crisis could be with us for at least five years. Continue reading
Economy
(Rense) – Illinois – A State In Crisis – Stephen Lendman
This writer’s earlier articles addressed greater social misery in America than since the Great Depression, because of unemployment, homelessness, hunger, bankruptcies, despair, and rising poverty levels.
According to the National Academy of Science, 47.4 million Americans were impoverished in 2008, 15% of the population, but the true number is much higher since the government’s income threshold is $22,000 for a family of four, way short of what’s needed throughout urban America where even half again as much is too little. Read More Here
(Bloomberg) – Banks Seized by Regulators in Nebraska, Mississippi, Illinois
Three banks with total deposits of almost $2.3 billion were seized by regulators amid losses stemming from soured real-estate loans, raising to 81 the number of U.S. lenders that have collapsed this year. Read More Here
(EuroPacificCapital) – Key Indicators of a New Depression
With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned. But I will argue that a look under the proverbial hood reveals a very different picture. Read More Here
(Telegraph) – Solution to Unemployment? Wal-Mart to Create 500,000 New Jobs
Mike Duke, chief executive, told the retailer’s annual meeting that the company will add the 500,000 positions as it seeks to continue to grow globally and maintain its leading position in the US. Read More Here
(EconomicNoise) – Worse than a Depression – Read More Here
(SicSemper) – Video: Obama’s Teleprompter of Propaganda: “Our Economy is Getting Stronger by the Day.”
As the Bureau of Labor Statistics report is published for the month of May showing unemployment at 9.7% due to 322,000 workers leaving out of employment positions, President Obama read from his teleprompter more Orwellian Double-speak, stating “our recovery is still in its early stages, and there’s going to be ups and downs in the months ahead…… this report is a sign that our economy is getting stronger by the day.” View More Here
(GlobalResearch) – Europe is Headed For a Mini-depression – Mike Whitney – Read More Here
(WashingtonTimes) – FTC floats Drudge tax
The Federal Trade Commission (FTC) is seeking ways to “reinvent” journalism, and that’s a cause for concern. According to a May 24 draft proposal, the agency thinks government should be at the center of a media overhaul. The bureaucracy sees it as a problem that the Internet has introduced a wealth of information options to consumers, forcing media companies to adapt and experiment to meet changing market needs. FTC’s policy staff fears this new reality. Read More Here
(TPG) – Countdown to Crashdown
Heed This Warning, and You Could Gain 868%. Ignore It, and You Stand to LOSE HALF of Your Wealth. The Choice Is Yours… Read More Here
(PRWeb) – Investors Shun Market Volatility as Fear and Uncertainty Reign, Opting Instead For Precious Metals IRAs as Gold Nears All Time Highs – Read More Here
(FinancialPost) – World currency unit intended to rival U.S. dollar for supremacy
A new currency is intended to challenge the U.S. dollar as the world’s foremost reserve currency. The WOCU, short for world currency unit, was actually launched by London-based WDX Organization in September 2009, but only seems to be gaining recognition now. Read More Here – See Also: Flex Group
Video: Watch the WOCU evolve – Video Link Here
(WOCU) – About the WOCU
The WDX Organisation has developed a currency-basket instrument called the Wocu; available for commercial use from 1st January 2010, the same day WDX launched its commercial reference data products. Read More Here
(YahooFinance) – Video: $6 to $8 Gas? Prices Will “Skyrocket” If U.S. Stops Drilling, Says Former Shell Exec – View Video Here
(WDX) – WDX Institute: Forum for WOCU Related Research Read More Here
(BusinessInsider) – MARKETS RIPPED APART: Here’s What You Need To Know
Following two straight up days, it looked like the panic might be out of this market. Nope, not even close. Fresh Euro panics combined with signs of economic weakness in the US to savage markets.
The scoreboard: Read More Here
(RealClearPolitics) – Census Worker Claims Job Numbers Are Being Inflated
“What they do is hire you, they train you like a few weeks — 35, 40 hours of training and give you six hours of productive work and lay you off.” a former Census named “Maria” tells FOX News. “Maria” further explains they rehire you so it counts as a new job.
(RussiaToday) – Video: Euro the focus of secret Bilderberg meeting: Charlie Skelton
“I hear from some people, Daniel Estulin has got sources inside, and he says the euro is on the top of the agenda. If the euro fails and the eurozone collapses, it’s been a lot of wasted talk. There’s talk, I have been speaking to some Spaniards here and they saying there’s whispers of returning to the peseta and that is not in the Bilderberg’s best interest,” said Skelton. Continue reading
Economy
(Money&Markets) – China’s Currency Manipulation: About to Cause a Global Explosion? – Read More Here
(Guardian) – UK’s first ‘conservation credit’ scheme launched – Read More Here
(Fox) – Video: Freedom Watch – Who Owns the Gold in Ft. Knox?
Ludvig von Mises Institute Chair Lew Rockwell on auditing the Federal Reserve
(CNBC) – Video: Steve Wynn Takes On Washington
Steve Wynn, a casino resort/real-estate developer who has been credited with spearheading the dramatic resurgence and expansion of the Las Vegas Strip, talks about the Fall of America. Video Link Here
(GlobalResearch) – The European and U.S. Economies: Falling Dominoes – Shamus Cooke
Attempting to fix an unfixable problem can create new problems. Why is the global economy unfixable in the current context? For one, the cause of the depression is never mentioned in the mainstream media or politicians. And when a disease is misdiagnosed, a prescribed medication creates new afflictions.
Massive, bad debt is often cited as the cause of the global depression, but whythis debt existed in the first place is never discussed. Quite simply, the debt was needed to buy the products of corporations that wages once consumed. Over time, corporations drove down wages to out-compete each other while driving up profits, creating the global “demand” for credit, which the banks are now demanding be paid back. Read More Here
(BitsOfNews) – Pol/Econ: Deregulation and the Triumph of Wall Street
One year removed from a catastrophic, global, economic meltdown, and 26 months removed from the start of the credit crisis, our political establishment is either unwilling or unable to reform the system and punish the perpetrators of this debacle. The situation is so far beyond the pale that it makes one wonder if another catastrophe is even avoidable. Read More Here
(ZeroHedge) – Europe: A Continent Of Lies And Broken Promises; How The EU Elite Got It Wrong On The Euro – Tyler Durden
Openeurope.org.uk has put together a paper of the most blatant half-truths, propaganda, and outright lies, abused by Europe not only over the past month, but also over the past 10 years, for the entire duration of the now rapidly collapsing eurozone experiment. Read More Here
(Bloomberg) – Dow Ends Worst May Since 1940 On Spain Debt Downgrade, Korea Tensions
U.S. stocks slid, capping the worst May for the Dow Jones Industrial Average since 1940, while the euro slumped and Treasuries rose as a downgrade of Spain’s debt rating and escalating tensions on the Korean peninsula triggered a flight from riskier assets. Read More Here
(Rasmussen) – 80% Favor Auditing the Federal Reserve
Eighty percent (80%) of Americans now agree with Congress that auditing the Federal Reserve Board is a good idea, according to a new Rasmussen Reports national telephone survey.
Just nine percent (9%) oppose an audit of the Fed, and 12% more are not sure. Read More Here
(CSPAN) – Video: Moonbat Bachmann complains about $2 billion for raises for Americans – says we can’t afford it
Wait a minute – don’t we pay FAR more every year to a foreign terrorist country that has attacked us?
She doesn’t hesitate repeating the neocon lie about government workers making more than those in the private sector. She does not compare those with the SAME position as she claims – she uses “averages.” Well, government does not hire burger flippers. It is the new attack on the Middle Class – government workers are that, by and large. Video Link Here
(Examiner) – Ellen Brown: US economic reform creates full-employment, renewed infrastructure, zero national debt
Attorney and author of the brilliant Web of Debt, Ellen Brown, is among the leading US advocates of monetary reform and state-owned banks. Among Ellen’s articles is one worth highlighting for how quickly a national economy can turn from ruin to astounding productivity: Nazi Germany’s direct creation of money to pay for public goods and services. Read More Here
(PostGazetta) – Port Authority warned of layoffs, route cuts without more state aid – Read More Here
(RedactedNews) – Insider Trading Is Perfectly Legal – But Only For Members Of The U.S. Congress – Read More Here
REPOST – (CNBC) – Dollar Primed for Collapse by End June: Charts
The dollar’s recent strength has been explained by most market analysts as a result of the euro weakness rather than any fundamental support for the greenback. In fact, a closer look at the dollar’s chart – particularly the dollar index – suggests the currency may be primed for a collapse. Read More Here
(Money&Markets) – Credit Crisis Indicators Going Bonkers Again! Batten Down the Hatches!
Heads up people. Something very big is happening in the global credit markets — something you darn well better pay attention to. Read More Here
(EconomicPolicyJournal) – It’s the Bailout of the Banksters Before Greece Is Taken Down
WSJ has a remarkably to the point story explainning why Greece will end up restructuring, but that there will be a delay until the banksters are protected: Read More Here
(Boston) – Romania to cut wages despite strike threat
Romania will go ahead with sweeping wage, pension and benefits cuts despite unions’ threats to stage a general strike, Prime Minister Emil Boc said Wednesday. Read More Here
(DSNews) – Federal Reserve’s MBS Purchases Could Lead to Record Earnings of $70B – Read More Here
(TheEconomicCollapse) – The Depression Of 2011? 23 Economic Warning Signs From Financial Authorities All Over The Globe
Could the world economy be headed for a depression in 2011? As inconceivable as that may seem to a lot of people, the truth is that top economists and governmental authorities all over the globe say that the economic warning signs are there and that we need to start paying attention to them. The two primary ingredients for a depression are debt and fear, and the reality is that we have both of them in abundance in the financial world today. In response to the global financial meltdown of 2007 and 2008, governments around the world spent unprecedented amounts of money and got into a ton of debt. Continue reading
Health News
(WPost) – Virginia Tech professor uncovered truth about lead in D.C. water
It happened for Marc Edwards, a lean, intense Virginia Tech environmental engineering professor. Drawing on what he called his own “world-class stubbornness,” he mounted a six-year campaign that succeeded last week in forcing the federal Centers for Disease Control and Prevention to admit that it had misled the public about the risk of lead in the District’s drinking water. Read More Here
(HealthWyzeReport) – Special Investigative Report: L-tryptophan, Lactic Acid, Prozac and Naturally Treating Depression the Holistic Way
In the fall of 1989, the F.D.A. banned L-tryptophan sales, claiming that it caused a rare and deadly flu-like condition known as Eosinophilia-Myalgia Syndrome. Of course, the F.D.A. allegation was not true, which follows the usual pattern regarding herbs and supplements. L-tryptophan is a naturally occurring amino acid that is already found in foods, after all. In other words, all of us would be in serious trouble if the F.D.A. cronies had been telling the truth, unless we could find a way to survive without eating food. Read More Here
(NaturalNews) – Bill Gates funds covert vaccine nanotechnology – Mike Adams
The Bill and Melinda Gates Foundation is gaining a reputation for funding technologies designed to roll out mass sterilization and vaccination programs around the world. One of the programs recently funded by the foundation is a sterilization program that would use sharp blasts of ultrasound directed against a man’s scrotum to render him infertile for six months. It might accurately be called a “temporary castration” technology. Read More Here
(NaturalNews) – Low levels of vitamin D make asthma worse
Asthmatics with low levels of vitamin D may suffer more severely from the disease than patients with sufficient levels of the vitamin, according to a study conducted by researchers from National Jewish Health in Denver and published in the American Journal of Respiratory and Critical Care Medicine. Read More Here
(NaturalNews) – Normal human problems are turned into medical conditions, spiking healthcare costs
Mainstream medicine has a huge new growth industry underway — the “medicalization” of the human condition. That’s the conclusion of a study headed by Brandeis University sociologist Peter Conrad that was just published in the journal Social Science and Medicine. The report, the first study of its kind, documents that over the last several decades, numerous common problems — many of which are simply due to being human — have been newly defined as medical disorders that supposedly need prescription drugs and other costly treatments. Read More Here
(Reuters) – Vitamin K linked to lower diabetes risk
Researchers found that among more than 38,000 Dutch adults they followed for a decade, those who got the most vitamin K in their diets were about 20 percent less likely to be diagnosed with type 2 diabetes during the study period. Read More Here
(EWG) – Not Se Sexy: Hidden Chemicals in Perfume and Cologne
A rose may be a rose. But that rose-like fragrance in your perfume may be something else entirely, concocted from any number of the fragrance industry’s 3,100 stock chemical ingredients, the blend of which is almost always kept hidden from the consumer. Read More Here
Economy
(ZeroHedge) – With Local Gold Inventories Depleted, Panicking German Dealers Stage Run On Krugerrands – Tyler Durden
Last week we noted that several prominent Austrian and German gold dealers had run out of inventory and were no longer transacting with a European population that has suddenly discovered gold religion. As a result, dealers are now focusing procurement efforst outside of Europe, with South Africa receiving the brunt of Europe’s panic for physical precious metals. As the FT reports, “At the Rand refinery in South Africa, the phone has not stopped ringing this week.” Just imagine what will happen when the gold bug goes airborne and jumps across the Atlantic… Read More Here
(Rense) – Our Sympathies To The People Of Greece – It’s “déjà-vu all over again”!!! – Adrian Salbuchi
When Argentinians watch the news today and see the terrible things that are happening in Greece, we cannot but say, “Hey!! This is EXACTLY like Argentina in December 2001 and beginning of 2002!”. Then too, Argentina underwent its worst systemic banking, public debt and monetary collapse which led to social turmoil, mad violence, rioting, and social war. Read More Here
(Bloomberg) – Greece Considering Legal Action Against U.S. Banks for Crisis
Greece is considering taking legal action against U.S. investment banks that might have contributed to the country’s debt crisis, Prime Minister George Papandreou said. Read More Here
(ChartingStocks) – Federal Deficit Chart (1901 to 2010)
Federal Deficit chart from 1901 to present. It aint pretty! See comparisons of current deficit with that of World War 2 below. See Chart Here
(GlobalResearch) – Financial Fraud. How It Works. The Truth behind the Madoff Investment Scandal
The mass media is not telling the entire truth about the Bernie Madoff scandal and that is contributing to the suffering of the victims of the largest investment scandal in history. Massachusetts School of Law Dean Lawrence Velvel ought to know; he’s one of them.
“Let me tell you the things you don’t know,” said Velvel, who has written extensively on the complex subject in books and blogs and hosted several television programs dealing with the Madoff affair. “The media isn’t telling the whole story because they generally focus only on the very wealthy people who were taken in. But the vast majority of the victims are ordinary people, like you and me, and they are the ones who are now left twisting in the wind. It looks to us like the wealthy are being helped now while the average bloke who put in $500,000 or $750,000 and who needed to use the income in order to live is being hurt.” Read More Here
(InfoClearingHouse) – The Vicious Circle of Debt and Depression – It Is a Class War
Never before has so much debt been imposed on so many people by so few financial operatives—operatives who work from Wall Street, the largest casino in history, and a handful of its junior counterparts around the world, especially Europe. Read More Here
Will the Wall Street Banksters Ever Be Held Accountable? – Danny Schechter
We are all still stuck in the “big Muddy.” No, not the wars of old or even the oil disaster. The mud I am referring to is more like quicksand and it sucks anyone who wants to look at what happened in the financial crisis deeper and deeper into it.
Soon, you are buried in shifting sea of so-called “exotic financial instruments,” and tranches, derivatives, credit default swaps, naked short-selling, etc and so forth, ad fin item. It’s murkier in there than in the oil-infested waters of the Gulf of Mexico.
Stop, my head hurts. Read More Here
Video: More Banking Propaganda Brought to You by a Division of The Royal Bank of Scotland – Continue reading
Health News
(NaturalNews) – Do healing foods work better than Big Pharma’s drugs? The results speak for themselves – Mike Adams
The drug industry is constantly trying to convince you that drugs are good for your health while nutritional supplements and healthy foods are somehow bad for you. This same line of nonsense is also repeated by the FDA, which goes out of its way to censor the truth about the healing properties of natural foods like walnuts, cherries and berries. Read More Here
(Reuters) – Low vitamin D tied to depression in older people
Older men and women with lower levels of vitamin D in their blood are more prone to become depressed over time, new research shows. Read More Here
(Guardian) – Scientists call for GM review after surge in pests around cotton farms in China
Farmland struck by infestations of bugs following widespread adoption of Bt cotton made by biotech giant Monsanto Read More Here
(Reuters) – FDA: Glaxo, Merck vaccines OK despite pig virus
Rotavirus vaccines made by GlaxoSmithKline Plc and Merck & Co Inc are safe to use despite being contaminated with a pig virus, U.S. health regulators ruled on Friday. Read More Here
(DailyMail) – Long conversations on mobile phones can increase risk of cancer, suggests 10-year study
Prolonged use of mobile phones over many years could increase the risk of cancer, scientists have found. Read More Here
(CNN) – ‘Shocking’ conditions at Tylenol plant
The quality and safety violations that led to the shutdown of a Tylenol plant were extremely serious, and could lead to tough action by regulators on drugmaker Johnson & Johnson.
“This inspection report is pretty close to being the worst I’ve seen. It suggests that basically the FDA found an issue with almost every system at the plant,” said Lebo, who had previously worked for Johnson & Johnson’s pharmaceutical sourcing group in 2002. Lebo said he left that job after nine months because the work required too much travel. Read More Here
(NYTimes) – U.S. Clears a Test of Bioengineered Trees
Federal regulators gave clearance Wednesday for a large and controversial field test of genetically engineered trees planned for seven states stretching from Florida to Texas. Read More Here
(DailyMail) – Revealed: The very unappetising truth about McDonald’s chicken meals
One of tens of thousands, each bird is allowed the floor space equivalent to a sheet of A4 paper and will live for just 40 days before it hits its genetically-engineered slaughter weight. That’s if it doesn’t perish along the way. Read More Here
(Telegraph) – Homeopathy is witchcraft, say doctors
Hundreds of members of the BMA have passed a motion denouncing the use of the alternative medicine, saying taxpayers should not foot the bill for remedies with no scientific basis to support them. Read More Here
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
Economy
(InfoClearingHouse) – Finance 101: Blame the Poor (While Taking Their Money) – Read More Here
Video: Daniel Cohn-Bendit (english subtitles) about Greece’s financial woes
Euro deputy Daniel Cohn-Bendit (Greens/EFA) challenges the European Commission and Parliament about their stance on financial support for Greece. Read More Here
(BusinessInsider) – Why The UK Is The Next European Country To Experience A Massive Debt Crisis – Read More Here
(Bloomberg) – Video: Jim Rogers – Gold has HUGE potential! – Video Link Here
(DrHousingBubble) – Housing never really improved – 10 charts showing the United States housing market is entering the second wave of problems. 1 out of 4 people with no mortgage payment in the last year are still not in the foreclosure process – Read More Here
(FinancialTimes) – Portugal to unveil ‘crisis tax’ to cut deficit
José Sócrates, Portugal’s prime minister, will announce tough new austerity measures on Thursday, including a “crisis tax” on companies and wages, to accelerate cuts in the country’s gaping budget deficit. Read More Here
(PaulWatson) – CEO Predicts Market Armageddon: Dow To 5,000
Cornerstone Wealth Management CEO David Hefty agrees with a growing number of other financial experts that a real estate collapse in China before the end of the year will send shockwaves through the global economy, leading to a stock market collapse which will send the Dow into free fall below the 5,000 level. Read More Here
(RussiaToday) – Video: Gerald Celente – “we are going to see more and more violence” Greek Crisis
Amid a financial bailout in Europe, it is the banks that are doing the robbing, says trend forecaster Gerald Celente. He believes the ensuing protests are well-deserved and will not stop. Video Link Here
(PeterSantilli) – You Are Being Lied To By The Entire Financial System
Almost every US Corporation will do and say anything to keep us spending money, regardless of what they know about the fragility of our entire financial system. Bankster’s are now using world governments as patsies to commit the largest heist in world history. Stealing a trillion dollars from US citizens proved to be too difficult, as they had to receive congressional approval to bail themselves out. They’re recent scam involves using central banks to bypass democracy & funnel money to offshore entities without oversight. Read More Here
(BusinessInsider) – Video: Raw Footage Of Violent Bailout Protests In Ireland
It’s not just Greece. Via The Daily Bail, here’s what the Irish street looks like, as protesters attempt to storm parliament in protest of bank bailouts. Video Link Here
(InternationalForecaster) – Europe and America Morally and Financially Bankrupt – Bob Chapman
Greece has its immediate financing. Now the question is can they follow the prescription? In all likelihood the answer is no. the bond markets are reflecting that via a lack of confidence. In fact, some bond markets are falling apart and there is no end in sight. We have bond rating firms lowering ratings, as the rating services themselves are under serious fire and we do not believe they will be around long. The big question is why did it take two years and 10 months to react? Read More Here
(ZeroHedge) – First Gold, Now Europe Running Out Of Silver – Tyler Durden
Earlier we noted that the Austrian mint was on its way to depleting its gold reserves following “panicked buying” from Europeans, who now openly fear the demise of their currency. Now, courtesy of Slim Beleggen, we understand that the situation in the silver market is just as bad and has also spilled over to Germany: the contagion is no longer one of sovereign debt, but of precious metal physical inventory. Read More Here
(PaulWatson) – Gold Could Explode To $3,000 As Confidence In Currencies Collapses
Financial analyst David Rosenberg says gold could explode to $3,000 an ounce as European investors dump the ailing euro in exchange for the precious metal while JP Morgan states that bullion could face unlimited demand as panic buying ensues on the back of crumbling confidence in fiat currencies. Read More Here
(FoxBusiness) – Video: Peter Schiff – Buy Gold – Video Link Here
(RussiaToday) – Video: Gerald Celente – Banks robbing the people – Video Link Here
(Bloomberg) – Video: Is Portugal the next Greece? – Video Link Here
(WashingtonsBlog) – California Is More Likely to Default than Iceland or Iraq
The Federal Reserve isn’t the only one who owns credit default swaps betting that California will default.
As Ed Harrison points out, credit default traders have now ranked California in the list of top 10 governments most likely to default, with a 20% default probability: Read More Here
(WSJ) – Gulf Oil Spill Is Spoiling Tourism
A survey conducted by the Knowland Group May 3 and 4 of 50 hotel properties along the Gulf Coast found that 35% of respondents say the oil spill has prompted potential guests to cancel their reservations. Read More Here
(BusinessInsider) – The U.S. Government Is About To Get Hit With ‘The Perfect Storm’ Of Debt – Read More Here
(Examiner) – Economist Tim Madden: The PIIGS Brief: understanding how oligarchs rig, loot our economies. 3 of 4
Tim Madden is an economist with expertise on credit and banking. Tim and I are colleagues in lobbying government for public banking, with concentration in the US for state-owned banks (and here). The good news is that structural solutions to our economic controlled demolition are obvious and simple; and explained beautifully by many of America’s brightest historical minds. The bad news is that we’re still mired in oligarchic looting of our economies. Read More Here
(IceNews) – Yet another day of Iceland banking arrests
Ingolfur Helgason, the former Director of Kaupthing Iceland, and Steingrimur Karason, former CEO of the bank’s risk management department, were both arrested today upon arriving back in Iceland. They went straight to interrogation with the Special Prosecutor and are being held in police cells. Read More Here
Lots Of Layoffs As The Depression Worsens
Ciena Corporation – 140 International Jobs
Jordan School District Utah – 190
Apria Healthcare – 29
City of Garfield NJ – Considering 20 Job Cuts
The city of Lewiston Maine – 22 Positions
Takeda Pharmaceutical Chicago – 500
Diageo Plc, – Job Cuts Coming Soon
Auburn University AL – 12 Custodian Workers
Update: Charlotte-Mecklenburg Schools – 500 Layoff Notices
Long Beach School District – 243
Oceanside Unified School District – Finalize 61 Layoffs
The Mt. Diablo school CA – 200
Peterborough Regional Health ( International ) – 20 Management
Ranch Market – 200
NY Health and Hospitals Corporation – 500
Viz Media – 60
Los Angeles CA – 1,700 Layoffs Needed to Close Budget Gap
Milford Hospital Connecticut – Layoffs are planned
AM General Mishawaka plant – 50
The City of Xenia Ohio – 9
Chevron Corporation – 925
Barnegat Township Schools NJ – 25 More
General Dynamics/NASSCO – 900 San Diego Layoffs Possible
Madison Heights MI – up to 48 Possible
Rocklin Unified School District CA – 50
The El Segundo schools CA – 20
(FoxBusiness) – Video: Ron Paul – Stop the Bailout of Foreign Banks! – Continue reading
Economy Part 2
(C-Span) – Video: Ron Paul I Am Very Concerned About What’s Going To Happen!
(Reuters) – U.S. Senate rejects broader Fed audit amendment: May 11
The U.S. Senate rejected an amendment on Tuesday that would have exposed the Federal Reserve to broader scrutiny by Congress, which critics said would extend to monetary policy decisions. Read More Here
(DailyCrux) – Porter Stansberry: The U.S. dollar is about to implode – Read More Here
(DailyMail) – Unions warn of Greek-style riots in Britain against public sector cuts after court victory over capping of redundancies
Militant unions today sent a chilling warning of Greek-style strikes and protests after winning a major legal victory for civil servants made redundant.
The warning raises fears of months of chaos triggered by a furious public sector who refuse to accept painful changes to tackle Britain’s financial crisis. Read More Here
(Reuters) – FOREX-Euro falls as market doubts rescue package
The euro fell on Tuesday as the relief rally unleashed by an emergency aid package to prevent the spread of a euro zone debt crisis dissipated and the focus switched back to structural problems plaguing the bloc. Read More Here
(WashingtonsBlog) – The Second Leg of the Great Depression Was Caused by European Defaults
Many Americans know that the Great Depression was started by the bursting of the giant Wall Street bubble of the 1920’s (fueled by the use of bank deposits on speculative gambling, which is why Glass-Steagall was passed) , which in turn caused a run on American banks. Read More Here
Video: Gerald Celente on The Tommy Schnurmacher Show Continue reading
Economy
(SkyNews) – Bid To Storm Irish Parliament Foiled
Protesters have clashed with police as they tried to break through the gates of the Irish parliament during a march against bank bailouts. Read More Here
(AmericanThinker) – The Failure of the Unfree Market
What we have here is the failure of the unfree market. That means the failure of Greece. And the other PIGS (Portugal, Italy, Greece, Spain). And Europe. And it means the U.S., too. It even includes the Great Recession. The modern welfare state is collapsing around us. Read More Here
(SteveWatson) – New UK Government To Be Infested With Bankers
One in ten new MPs has background in international banking Read More Here
(SteveWatson) – UK Economy May Be Allowed To Crash And Burn Like US Banking Giant
Analysts, Economists: Britain May Become Lehman To Greece’s Bear Stearns Read More Here
(Reuters) – Food-stamp tally nears 40 million, sets record – Read More Here
(FoxNews) – World Health Organization Moving Ahead on Billions in Internet and Other Taxes
The World Health Organization is moving full speed ahead with a controversial plan to impose billions of dollars in global consumer taxes on such things as Internet activity and everyday financial transactions like paying bills online — while its spending soars and its own financial house is in disarray. Read More Here
(GlobalResearch) – “Drop Dead Economics”: The Financial Crisis in Greece and the European Union – Michael Hudson
Riddle: How are the Greek rioters like America’s Tea Party movement?
Answer: Both reject government being taken over by the financial oligarchy to shift the tax burden onto labor. Read More Here
(USNews) – U.S. Cancer Costs Double in Two Decades
Study also finds that private insurance pays greater share today Read More Here
(PaulWatson) – Tea Party Clueless About U.S. Tax Dollars Funding Bailout Heist
Silence from anti-tax movement on bailouts is deafening – and dangerous Read More Here
(WashingtonsBlog) – The European Bailout: Not a Very Promising Start
Many people have written insightful criticisms of the European bailout. For example, Tyler Durden, Joe Weisenthal and Gregory White point out that the French banks are the real winners of the bailout (but don’t forget JP Morgan).
Ron Paul points out that the Fed opening its swap lines to Europe violated its promise to Congress not to do so. Paul also says the bailout will help lead to the destruction of all fiat paper currencies, ensuring that “gold will rule the roost”. Read More Here
(House.gov) – The Fed Is Using Its Cronies And Lobbyists To Stop Us From Auditing It – Ron Paul
It doesn’t come as too much of a surprise that the measure to audit the Federal Reserve is coming under continuous fire from the central bank and its cronies. For the first time since the Federal Reserve was created nearly a century ago, they have hired an actual lobbyist to pound the pavement on Capitol Hill. This is a desperate effort to hang on to the privilege of secrecy and lack of accountability they have enjoyed for so long. Last week showed they are getting their money’s worth in the Senate. Read More Here
(WSJ) – Did a Big Bet Help Trigger ‘Black Swan’ Stock Swoon?
Shortly after 2:15 p.m. Eastern time last Thursday, hedge fund Universa Investments LP placed a big bet in the Chicago options trading pits that stocks would continue their sharp declines.
On any other day, this $7.5 million trade for 50,000 options contracts might have briefly hurt stock prices, though not caused much of a ripple. But coming on a day when all varieties of financial markets were deeply unsettled, the trade may have played a key role in the stock-market collapse just 20 minutes later. Read More Here
(Reuters) – Gold rises above $1,220 on euro zone debt fears
Gold hit five-month highs on Tuesday, rising to within $5 of its December record peak as risk aversion returned on doubts over smaller euro zone countries’ ability to cut their deficits despite a $1 trillion aid package. Read More Here
(BusinessInsider) – Gold Is On Fire, As Market Sneers At Euro Bailout
Along with the overall market malaise, the other big warning sign right now is the gold surge. The metal is now nearly $1220/oz. As Stacy Herbert puts it: The gold vigilantes are in a shootout with the ECB and the Fed. Read More Here
(GoldTrends) – Brother Can You Spare a Trillion?
In a nutshell they will buy bonds and will intervene in markets and “do what they have to” in order to avoid a meltdown. This is akin to the USA bailout of 1 Trillion dollars. This will only buy time, but it is all that can be done right now. For the moment the term being touted this Monday morning is “putting a floor on risk assets”. This time they mean stocks and bonds and not commodities. Read More Here
(Goldseek) – Where’s my Government Check
Reading the financial press, I recently noticed that of the 139 million workers in the Bureau of Labor Statistics household survey of workers, 47 percent don’t make enough to file and pay federal taxes beyond any collected social security tax. This means that out of a population of 310 million Americans, only 74 million (about 24 percent) pay federal taxes on April 15th. Read More Here
(ZeroHedge) – European Banks Now Feverishly Betting Against Euro, As Bailout Fails, Gold Surges – Tyler Durden
Thought experiment: You are the head FX trader at French megabank Croc Monsieur & Cie. (HFT: CMC) For the past 5 years, your bonus has been getting paid primarily in company stock. In the last two weeks you have seen the stock of your firm plunge as the markets have finally realized that those idiots in the Fixed Income desk have loaded up to the gills with PIIGS debt which is now worth 60 cents on the dollar at best. And to top things off, the euro has plunged to multi year lows killing any chance of buying that New York Pied A Terre which seemed so cheap when the EURUSD was 1.50 a few months ago. So what do you do? Well, you short the living daylights out of the EUR, knowing full well that the EU, the IMF and the ECB will not let Europe crash. You sell, you sell on margin and then you sell some more, trying to get EURUSD all they way down to 1.20, to 1.10, even to parity if possible, to make it all that more believable that the end of Europe is coming. Read More Here
If Marijuana Production Were Legal: Projected Tax Revenues, by State
Love it or hate it, people smoke marijuana – lots of it. In some states marijuana consumption and possession have been decriminalized, and even legalized for medicinal purposes. But, have you ever wondered how large the economics of Marijuana were? Us too. As a result ,have decided to put together this graphic, which illustrates the popularity of marijuana consumption, the federal tax dollars spent to keep marijuana illegal, and the possible tax revenues that could be generated if marijuana production were legalized and taxed like any other agricultural product. Read More Here
(RussiaToday) – Video: Alex Jones on Greece: It’s Robbery, Not Bailout!
Greece has kick-started talks on implementing its new economic austerity measures despite warnings of new union rallies. The plans will see pensions slashed and the retirement age increased. The measures were a pre-requisite for an international loan to pluck the country from the brink of bankruptcy. But investigative journalist Alex Jones says the bailout is a crime and will only hit tax payers even harder in the pocket.
(Infowars) – Video: Webster Tarpley Predicts End of The EURO on Alex Jones Tv
Part 1 of 2
Continue reading
Economy
Video: Visualizing Obama’s budget cuts – Video Link Here
(MasonCountyNews) – Obama Banking Regulation Bill Does Not Go After Big Banks Read More Here
(CityAM) – IMF “FAT Tax” To “Reign In Banks” Will Increase Costs For Consumers
IMF plan: the wrong kind of reform Read More Here
(Infowars) – Regulatory Reform Bill: Another Round of Bailouts
It only takes a passing knowledge of current events to prompt the question of how many times the American people can be conned before they begin to wake up. Indeed, one might even ask how many times they can be conned with the same lines for the same result. Yet unfortunately, it appears that the most realistic answer is that there is in fact no limit to the gullibility of the general public. Despite the growing tea party movement as well as protests against higher taxes and bailouts, the U.S. government is gearing up yet again for another round of bailouts and the populace is geared up to accept them. Read More Here
(McClatchy) – Goldman’s White House connections raise eyebrows
While Goldman Sachs’ lawyers negotiated with the Securities and Exchange Commission over potentially explosive civil fraud charges, Goldman’s chief executive visited the White House at least four times. Read More Here
(WashingtonsBlog) – Break Up the Giant Banks to Curb Their Control over the Political Process – Krugman Read More Here
(TorontoStar) – Financial Fraud: Culture of Greed Under Attack
Barack Obama may not get it but the SEC finally is taking action – Read More Here
(InfoClearingHouse) – Borrowing While Poor
Congress is in the midst of investigating why Alan Greenspan and the Federal Reserve did not prevent the subprime fiasco, and now the SEC is suing Goldman Sachs for fraud. But neither the investigation nor the suit addresses the most repugnant aspect of subprime lending, which is the fact that poor people are charged higher interest rates than rich people when they purchase homes, and that this is perfectly legal. Read More Here
(InfoClearingHouse) – “Lehman’s failure is a story in large part of fraud” – Black’s Knockout Testimony – Mike Whitney Read More Here
(OftWoMinds) – How We Get Ahead Now: Gaming the System
Gaming the system is not just encouraged–it has become the foundation of the U.S. economy. Without it, the status quo will implode. Goldman Sachs gamed the system to package guaranteed-to-default mortgages and present them to buyers as AAA-rated “safe” investments yielding a high return, while selling a hedge fund derivatives which were a bet against the mortgages. Read More Here
(HoweStreet) – Hyperinflation Looms – The Dollar Arrives at Its ‘Havenstein Moment’
There is an interesting article in Canada’s Globe & Mail about the lack of growth in the US money supply. Ignoring for the moment that the quantity of dollars in circulation is significantly underreported, it observes: Read More Here
(PaulWatson) – Bankers Prepare To Assault Americans With VAT, Transaction Taxes
Obama: Value-added tax still on the table despite White House assurances otherwise, campaign promise not to raise taxes for families earning under $250,000 a year Read More Here
(PennyForYourThoughts) – Gore backed by group linked to oil industry – Read More Here
(CNBC) – Testimony Could Undercut SEC Charge Against Goldman
The testimony of a former Paulson & Co official could undercut the Securities and Exchange Commission’s fraud case against Goldman Sachs, CNBC has learned. Read More Here
(TheNewStar) – State $319M short
Gov. Bobby Jindal said he and the Legislature will “do everything we can to mitigate cuts” to higher education and health care, but the plan for cutting or using other funds to fill a $319 million budget hole won’t be complete until Friday. Read More Here
(ABC10) – State Revenues Down $130 Million – Read More Here
(WKBW) – DiNapoli Warns State Could Run Short on Cash
The state only ended the fiscal year in the black because the Governor delayed $2.9 billion in payments, and DiNapoli warns that by pushing these payments into the new fiscal year, the state could run out of money in June. Read More Here
(DailyDunklin) – Declining state revenue leads to hard budget decisions for leaders
Much like a family that has to make hard spending decisions when times are tough, leaders in Missouri have had to make hard budget decisions this year in light of declining state revenues. Read More Here
(EconomicPolicyJournal) – Fed Official: We Can Just Print Money, Damn It! – Read More Here
(Fox) – Republicans Warn Bank Bill Could Backfire as Dems Push for a Deal – Read More Here
(RightWingNews) – SIGTARP Report Confirms: Homeowner Bailout Program Won’t Fix Housing Crisis
A new report released yesterday (.pdf) by Neil Barofsky, special inspector general for the Troubled Asset Relief Program (TARP) warns that Obama administration efforts to bailout homeowners through the Home Affordable Modification Program (HAMP) are ineffective and will not stem the sweeping tide of foreclosures. Read More Here
(Examiner) – Massive government corruption hidden by focus on Goldman-Sachs
As the country’s attention is directed to the Goldman-Sachs scandal, a much greater story lurks beneath the surface involving massive government corruption that makes Wall Street firms pale in comparison. Read More Here
(BusinessInsider) – 12 Reasons Americans Are Incredibly Angry About The State Of The U.S. Economy – Read More Here
(Bloomberg) – Goldman Sachs ‘Had Duty’ to Keep Paulson Bets Secret (Update2)
Goldman Sachs Group Inc., being sued by the U.S. Securities and Exchange Commission over claims that it deceived investors about one of its financial products, tried to fend off regulators last fall by arguing it had a duty to keep the information confidential. Read More Here
(Telegraph) – SEC begins formal inquiry into Lehman ‘tricks’
The 2,200-page report which uncovered the murky world of Repo 105 and off-balance sheet accounting at Lehman Brothers has led to a formal investigation by the Securities and Exchange Commission (SEC) into the investment bank’s collapse. Read More Here
(MSNBC) – Districts warn of deeper teacher cuts
School districts around the country, forced to resort to drastic money-saving measures, are warning hundreds of thousands of teachers that their jobs may be eliminated in June. Read More Here
(FoxBusiness) – Video: President Obamas War on Capitalism – Video Link Here
(RussiaToday) – Video: Big Fat Greek Debt: The Bailout – William Engdahl
The financially stricken Greek government is beginning talks with the EU and the International Monetary Fund about a possible bailout. Greece has found borrowing from banks too costly recently and is struggling to refinance old debts. Let’s get some analysis with economist and author William Engdahl. Continue reading
Economy
(AP) – Obama suggests value-added tax may be an option
President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days. Read More Here
(AP) – Millions face tax increases under Dems budget plan
President Barack Obama’s Democratic allies in the Senate promise to cut the deficit by almost two-thirds over the next five years, but their budget plan could threaten about 30 million people with tax increases averaging $3,700 in 2012 and after because of the alternative minimum tax. Read More Here
(GlobeAndMail) – Canada rejects IMF bank tax plan
‘Canada will not go down the path of excessive, arbitrary or punitive regulation of the financial sector,’ Finance Minister Flaherty says – Read More Here
(DailyMail) – Cameron in benefits threat to the workshy as he declares: ‘The free ride is over’
The message was carried on the first of a new series of posters, featuring the slogan: ‘Let’s cut benefits for those who refuse work.’ Read More Here
(TheEconomicCollapse) – America’s Crumbling Infrastructure
One of the key signs that we are in the early stages of an economic collapse and that we are heading towards another Great Depression is America’s crumbling infrastructure. The truth is that our infrastructure is literally falling apart all around us. Read More Here
(BusinessInsider) – Forget 10% Unemployment, The Real Job Loss Pain Number Is 54%
A March survey from Pew shows just how broad the unemployment pain has been felt. When you hear of 10% unemployment, you might imagine 1/10th of Americans experiencing extreme financial stress from the recent recession.
Yet given the unemployment rate’s odd methodology whereby it drops people who stop looking for work out of the data, and the fact that American households usually have more than one person, the real ‘pain’ number is 54% — over half of American households felt the direct impact of job losses: Read More Here
Video: Gerald Celente – The Coming Great War of Our Age on Alex Jones Tv
Part 1 of 8
Continue reading
Economy
(ZeroHedge) – March Foreclosures Surge To Absolute Record, At 369,491, 19% Jump from February
RealtyTrac reports the next catalyst that will surely take the Dow to 12,000 by 9:31 am tomorrow. “Foreclosure filings were reported on 367,056 properties in March, an increase of nearly 19 percent from the previous month, an increase of nearly 8 percent from March 2009 and the highest monthly total since RealtyTrac began issuing its report in January 2005.” And people were wondering where consumers get all their money from. Read More Here
(Guardian) – Wall Street banks line up to deliver strong profits
Arguably the star performer to emerge from the financial crisis, JP Morgan is set to kick off the US banking industry’s earnings season today with a first quarter profit expected to be about $2.9bn (£1.8bn). Although a sharp increase from $2.14bn a year ago, that number is a drop from JP Morgan’s profit of $3.28bn during the final quarter of 2009 as losses from credit cards, delinquent mortgages and consumer loans take their toll. Read More Here
(InternationalForecaster) – U.S. Economy: The Move Towards Deflation is Underway – Bob Chapman
Those of you 60 years old and older will spend the next 25 years struggling to survive one of the worst depressions in history or doing whatever you can to support your children and grandchildren. Read More Here
(CNBC) – Mortgage Defaults May Be Driving Consumer Spending
Hate to be an “I told you so…”
Lender Processing Services just put out its “Mortgage Monitor Report,” and we have a new record: Read More Here
(WSJ) – The Jobs Picture Still Looks Bleak
Many outsourced jobs will never return, and median income will likely continue to fall just like it did during the last so-called recovery. Read More Here
(SeattleTimes) – Millions of unemployed may never recover
Despite recent job gains, one grim statistic casts a long shadow over the recovering economy and the futures of more than 6 million workers: Fully 44 percent of the nation’s 15 million unemployed have been out of work for more than six months. Read More Here
(Reuters) – Markets could be derailed again, warns Soros
Railway porter-turned-billionaire financier George Soros delivered a stark warning last night that the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis. Read More Here
(EndOfTheAmericanDream) – 11 Examples Of How Insanely Corrupt The U.S. Financial System Has Become
If you ask most Americans, they will agree that the financial system is corrupt. It is generally assumed that just like most politicians, most big bankers are corrupt by nature. But the truth is that the vast majority of Americans have no idea just how corrupt the U.S. financial system has become. Read More Here
(BusinessInsider) – Morgan Stanley: A Eurozone Collapse Is Now Far More Likely, Here Are The Canaries To Watch Out For
The latest Global Monetary Analyst raises the notion of stronger Eurozone nations ditching the euro in order to form a stronger, smaller currency union. Read More Here
(EconomicCollapse) – The Federal Reserve Created This Financial Mess
When you watch the mainstream news, how often do you hear them identify the Federal Reserve as the ultimate source of all of our financial problems? Never? Well, there is a good reason. The Federal Reserve was created and continues to benefit the elite international bankers that are raping the United States blind financially. Read More Here
(SteveWatson) – Video: Banksters Rally Round Fed To Keep Bailout Trillions Secret
The largest commercial banks in the U.S. are ready to go all the way to the Supreme Court to block the public release of details pertaining to the Federal Reserve’s 2008 secretive $2 trillion bailout. Continue reading
Video: Americans prepare for disaster
(RussiaToday) – April 13, 2010 Continue reading
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