The Phases of an Empire

(ActivistPost) – The analysis below explains why all empires and “Imperial Style” governments have failed throughout history, and why our Empire-USA faces the same fate. The only question is whether the people and government of the USA have the wisdom and will to engage in a “Managed Decline” by terminating the empire and imperial conduct on their own schedule, rather than by chaotic crash of the US Dollar, economy, and lifestyle. Take notice of the “Solutions” section in Part C below. Read More Here

Video: Ron Paul – Gold is Money! The Dollar’s Value is Destined to Go Down

(Goldseek) – Ron Paul talks to Chris Waltzek on GoldSeek Radio. Topics of discussion include the Financial Reform Bill, competing currencies, the gold price, and 2012. Continue reading

The Year America Dissolved – Paul Craig Roberts

(InfoClearingHouse) – It was 2017. Clans were governing America.

The first clans organized around local police forces. The conservatives’ war on crime during the late 20th century and the Bush/Obama war on terror during the first decade of the 21st century had resulted in the police becoming militarized and unaccountable.

As society broke down, the police became warlords. The state police broke apart, and the officers were subsumed into the local forces of their communities. The newly formed tribes expanded to encompass the relatives and friends of the police. Continue reading

Economy

(FinanceMyMoney) – Controlling the wealth of America – top 1 percent control 83 percent of U.S. stocks. As a share of personal income mortgage debt ate up 19 percent in 1949. In 2003 it went up to 85 percent. 80 percent of Americans 65 years and older depend on Social Security for half of their income – Read More Here

(Bloomberg) – Romanian Recession Deepens on Cuts, BOA Merrill Says – Read More Here

(247WallSt) – American Credit Scores Crash To New Lows – Read More Here

REPOST – (CNNMoney) – Central banks start to abandon the U.S. dollar – Read More Here

(PaulWatson) – American Idolatry Intensifies as Nation Sinks in to Depression

Programmed zombies get hysterical about basketball while their future is being destroyed Read More Here

(ZeroHedge) – Berlin Pushing For European Bankruptcy Framework With Provision For State Sovereignty Give Up

The big news out of Europe this morning, and the reason for the drag on the euro is an article in Der Spiegel, “Merkel’s rules for bankruptcy” according to which Germany is now actively (and very secretly) pushing for a plan outlining a set of insolvency rules, which would require that private investors bear a portion of the rescue burden, and much more importantly, would see at least a partial give up in state sovereignty, where a new insolvency trustee (the “Berlin Club”, which we fail to see at least for now, how it differs from the Paris Club) would take implicit control over and override a default nation’s treasury, in essence pushing the bankrupt country into a form of Feudal vassal state-cum-reparations subservience. Welcome to financial warfare in the post-globalization period. Read More Here

(InfoClearingHouse) – Fix the Economy? We Have Know-how – Mike Whitney

There are remedies for recession, and the remedies are well known. But fixing the economy requires special medicine, fiscal stimulus, and if the patient does not take the medicine, he will not improve. It’s not enough to have the medicine sitting on one’s nightstand. It must be ingested before recovery can begin. Read More Here

(KeeneSentinel) – More Poverty By Any Measure

More than 15 million Americans are unemployed, homelessness has increased by 50 percent in some cities, and 38 million people are receiving food stamps, more than at any time in the program’s almost 50-year history. Evidence of rising economic hardship is ample. There’s one commonly used standard for measuring it: the U.S. Census Bureau’s poverty rate. It guides much of federal and state spending aimed at helping those unable to make a decent living. Read More Here

(FirstPost) – The big crash – America plunges into Depression – Read More here

(Telegraph) – EU to spend £1bn on pensions for retired eurocrats in 2010

The European Union will this year spend almost £1 billion on pensions for officials, giving the average retired eurocrat an income of almost £60,000, according to research carried out by the Daily Telegraph. Read More Here

(MailOnline) – Blair African charity run by banker linked to US toxic loan fraud – Read More Here

(NYTimes) – Crisis Awaits World’s Banks as Trillions Come Due

The sovereign debt crisis would seem to create worry enough for European banks, but there is another gathering threat that has not garnered as much notice: the trillions of dollars in short-term borrowing that institutions around the world must repay or roll over in the next two years. Read More Here

(CounterPunch) – The Worst of Times, the Best of Times

It’s the worst of times. America is plunging back into Depression. Only one out of every two Americans of working age has a job. Forty years ago that would have been okay. Dad went to the factory. Mom stayed at home to mind the kids. These days, just to keep the show on the road, mom and pop both work and the kids get daycare. Read More Here

(Gaurdian) – Tighter banking rules will drain £1tn from financial system, study shows

Banks are drawing on research conducted by PricewaterhouseCoopers which shows two percentage points would be sliced off economic growth Read More Here

(Telegraph) – Secret gold swap has spooked the market

IT takes a lot to spook the solid old gold market. But when it emerged last week that one or more banks had lent 380 tonnes of gold to the Bank of International Settlements in return for foreign currencies, there was widespread surprise and confusion Read More Here

(WashingtonPost) – Obama’s debt commission warns of fiscal ‘cancer’

The co-chairmen of President Obama’s debt and deficit commission offered an ominous assessment of the nation’s fiscal future here Sunday, calling current budgetary trends a cancer “that will destroy the country from within” unless checked by tough action in Washington. Read More Here

(AFP) – More and more Americans preparing for social unrest – Read More Here

(RawStory) – Sen. Kyl: $678-billion tax break for rich should not be offset

Sen. Jon Kyl, Republican of Arizona, believes that any extension to unemployment benefits “ought to be paid for.” But when it comes to the $678-billion cost of extending the Bush-era tax cuts for the wealthy, the senator says no offsetting is necessary. Read More Here

(KurtNimmo) – Video: Dollar Devaluation and Destruction of America Pick Up Steam

Back in January Lindsey Williams’ insider sources told him the dollar will be devalued within a year. In response, oil and food prices will rise significantly and the elite and banksters will move assets into gold and silver. Continue reading

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

(GoldScents) – STILL JUST A BABY BULL

It’s sad to say but I’m afraid 90/95% of all retail traders/investors are not going to successfully ride the gold bull. The reason of course is that they are deathly afraid of draw downs. It’s glaringly apparent every time gold pulls back or suffers the slightest correction. Immediately a slew of traders come on the blog and warn of impending doom. “Gold is going to $600” (think Elliot wave). Some are even brave (maybe I should say ‘foolish’) enough to short. Here is one we hear alot lately, “miners are going to get crushed if the stock market enters a new leg down in the secular bear market”.

Pure nonsense!

Let me show you what happened to gold and miners during the 2000-2003 bear market. Read More Here

(Alternet) – Why Banks Try to Make Borrowers Feel Like Sinners When They Can’t Pay off Their Mortgages

Crazy views about homeownership are helping the very bankers who screwed us in the first place. Read More Here

(TheComingDepression) – World economies on verge of currency revaluations to deal with debt

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” — Henry Ford
Basically what the world central banks are doing is increasing their money by devaluing it (printing more than it’s worth) and giving it to banks so that they can lend it. Then, when things pick up, simply take the money back and destroy it. Read More Here

(Telegraph) – Euro ‘will be dead in five years’

The euro will have broken up before the end of this Parliamentary term, according to the bulk of economists taking part in a wide-ranging economic survey for The Sunday Telegraph. Read More Here