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.”

MSM: Collapse of the American Empire: swift, silent, certain

(MarketWatch) – Commentary: Historians warning of a sudden ‘thief at night,’ an ‘accelerating car crash’
“One of the disturbing facts of history is that so many civilizations collapse,” warns anthropologist Jared Diamond in “Collapse: How Societies Choose to Fail or Succeed.” Many “civilizations share a sharp curve of decline. Indeed, a society’s demise may begin only a decade or two after it reaches its peak population, wealth and power.”

Video: Ferguson and Faber – Sovereign Debt Crisis Will Spread World-Wide, U.S. Debt Is Unsafe

(WashingtonsBlog) – In a must-read essay, Niall Ferguson slams the prevailing Keynesian consensus, and says that the sovereign debt crisis in Greece will spread to America:

What we in the western world are about to learn is that there is no such thing as a Keynesian free lunch…

US government debt is a safe haven the way pearl harbor was a safe haven in 1941.

And in a must-watch interview, Marc Faber says that the US, Europe and the entire developed world will default on their debt:
Watch Video at Source

See Also:

U.S. Bond Auctions Are Starting to Fail

Both long and short U.S. bond auctions are starting to fail. See this, this, this and this.

Tyler Durden concludes:

China is finally coming through on its Bond boycott promises.

For background, see this.

Video: The Dollar Is Dying a Slow Death, Says Niall ‘Ascent of Money’ Ferguson

(Yahoo) – “It’s clear where we’re headed,” says Niall Ferguson, author of The Ascent of Money. “Ten years from now there will be more than one international reserve currency,” he tells Tech Ticker.

We Can’t Break Up the Giant Banks, Can We? Yes We Can!

Top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion.

In response, defenders of the too-big-to-fails make one or more of the following arguments:

(1) The government does not have the authority to break up the big boys

(2) To break up the banks, the government would have to nationalize them, which would be socialism

MSM: Ireland set to go bust, claims economic historian

A dire warning that the Republic is a prime candidate to go bust has come from one of the world’s leading economic historians.

Political Lies and Media Disinformation regarding the Swine Flu Pandemic

Statements of this nature on the “inevitable spread” of the disease, create, quite deliberately, an atmosphere of fear, insecurity and panic. They also serve to distract people’s attention from a devastating global economic crisis which is leading the World into mass poverty and unemployment, not to mention the war in the Middle East and the broader issue of US-NATO war crimes.

The Housing Bust Takes Center-stage

The Fed’s $12.8 trillion of monetary stimulus has triggered a six week-long surge in the stock market. Think of it as Bernanke’s Bear Market Rally, a torrent of capital gushing from every leaky valve and rusty pipe in the financial system. The Fed’s so-called “lending facilities” are a joke; stocks rocket into the stratosphere while the broader economy is stretched out corpse-like on a cold marble slab. Is this an economic recovery or just more of Bernanke’s “no down” zero-percent “no doc” faux prosperity?

Video: Glenn Beck – EU Leaders Reject East Europe Bailout 3/02

Glenn Beck & Niall Ferguson discuss the recent rejection by European Leaders of the Hungarian proposed East European Bailout estimated at 240 Billion. Beck discusses the possibility of the European economic crisis creating an “iron curtain” in Europe.

Understanding Hitler’s Secret Relationship to the House of Rothschild

Introducing Hansjurgen Koehler’s “Fatal File”

In 1999, a book was published entitled “The House of Rothschild: The World’s Banker 1849-1999 “. It was written by Niall Ferguson, who, according to the inside jacket cover, is “the first historian with unrestricted access to all the surviving Rothschild archives.” According to the inside jacket blurb, the book concluded Ferguson’s “myth-breaking portrait of one of the most fascinating and powerful families of modern times”.

It further stated: