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

A Plea for Freedom

(Infowars) – We are broke.

On June 5th, 1933, Franklin Delano Roosevelt signed into law the Emergency Banking Act which declared America bankrupt and insolvent.  Twenty years after the 1913 Federal Reserve Act authorized a private central bank to loan money to the government at interest, the country declared its bankruptcy.  Twenty years after the Federal Reserve Act was passed, Congress enacted House Joint Resolution 192, to “Suspend the Gold Standard and Abrogate the Gold Clause” and the nation became insolvent.  Just twenty years after the Federal Reserve Act became law, gold at twenty dollars an ounce was inflated by FDR to twenty-nine dollars an ounce, confiscated with the passing of the Gold Reserve Act in 1934, and then inflated again to thirty-five dollars an ounce. Continue reading

Video: Keiser Report №65 – Markets! Finance! Scandal!

(RussiaToday) – This time Max Keiser and co-host Stacy Herbert look at the latest scandals of box office manipulation in China, $9 billion missing in Iraq and contango in commodities. In the second half of the show, Max talks to Internet sensation George Hemminger about his experience with financial collapse in America. Continue reading

Economy

(SteveWatson) – Gold Prices Heading For Record Highs

Gold futures surged toward record highs Thursday as the stock market and the U.S. economy continued to flounder, leaving investors seeking a safe haven in hard assets. Read More Here

(BusinessInsider) – CHART OF THE DAY: Food Prices Are About To Explode – Read More Here

(Leap2020) – Global systemic crisis / Second half of 2010: The global system’s four single points of failure

Each day the news confirm the extent to which the global systemic crisis has now entered into the phase of global geopolitical dislocation, even if the media only timidly begin to interpret the historic upheavals which unfold before our own eyes. For LEAP/E2020, the second half of 2010 will thus correspond to a new step in the global geopolitical dislocation, characterized by an acceleration in the process of strategic, financial, economic and social convulsions centered on four single points of failure Read More Here

(MSNBC) – Home builders won’t lift the economy this time

Homebuilders are sending a message: They won’t be able to contribute much to the economic recovery now that government home-buying incentives have vanished. Read More Here

(InterForecaster) – Federal Reserve Purchases U.S. Sovereign Debt – Bob Chapman

We believe an inflationary depression began in February of 2009, and little has changed. Since then factory output has increased, as have inventories and other outward signs, such as retail sales. We believe that one-year spurt is ending, unless a new stimulus program is put in place. Read More Here

(ZeroHedge) – 100 Italian Economists Say Austerity Will Destroy Europe

The Telegraph’s Ambrose Evans-Pritchard points to a letter signed by 100 Italian economists (technically Keynesianites, but in the great Ponzi, the two have become synonymous) in which they note that “the austerity strategy imposed by Brussels/Frankfurt risks tipping Europe into a self-feeding downward spiral. Read More Here

(TheStreet) – Gold Prices Reach for $1,254

Gold prices were gunning to break their record high Thursday as an uncertain stock market fueled demand for gold as a safe haven asset. Read More Here

(CNNMoney) – Out-of-work job applicants told unemployed need not apply

The last thing someone who is unemployed needs to be told is that they shouldn’t even apply for the limited number of job openings that are available. But some companies and recruiters are doing just that. Read More Here

(Reuters) – More Than 90 Banks Miss TARP Payments – Read More Here

(June 16) – Video: Alex Newman Reveals Fed Manipulations & ‘Bernanke’s Trillions’ on Alex Jones Tv

New American journalist Alex Newman talks with Alex about his latest article, Fed Manipulations in the Crosshairs. “It turns out that under the guise of “stabilizing” the economy, the Federal Reserve banking cartel had set in motion a series of actions that would eventually transfer trillions to the bankers at taxpayers’ expense, all while decimating the investments of countless average Americans,” writes Newman. Alex also covers the news and takes your calls. Continue reading

Economy

(WPost) – 8 House members investigated over fundraisers held near financial reform vote

The Office of Congressional Ethics is investigating eight lawmakers who held fundraisers within 48 hours of a major House vote on a Wall Street reform bill or received substantial donations from business people with a financial stake in the bill, according to congressional sources and letters. Read More Here

(Money&Markets) – Two Consequences of the Stimulus Programs Washington Wants You to Ignore! – Read More Here

(BullionBullsCanada) – Fannie Mae Proposes Bulldozing U.S. Homes – Read More Here

(EconomicPolicyJournal) – Bank Run in Spain and Its Destabilizing Ramifications for the Entire EU

According to FT, Spanish banks borrowed €85.6bn ($105.7bn) from the ECB last month. This was double the amount lent to them before the collapse of Lehman Brothers in September 2008 and 16.5 per cent of net eurozone loans offered by the central bank. Read More Here

(InternationalForecaster) – The Fed’s Purchase of US Sovereign Debt: “The US Treasury is under the Control of the Fed’s Owners”. – Bob Chapman

US, UK and European financial systems are on the way to collapse Read More Here

(MarketWatch) – U.S. home building craters after tax break expires

Housing starts fell 10% to a seasonally adjusted annual rate of 593,000 in May, the lowest level since December. The details were even worse, as starts of single-family homes plunged 17% to a seasonally adjusted rate of 468,000, the lowest in a year. Read More Here

(LewRockwell) – Amnesty for the Banksters, Debtor’s Prison for the Serfs – Read More Here

(SoColPatriotsClub) – House Democrats Drop Ron Paul’s Audit of Federal Reserve

Yes, you read that right. Ron Paul’s push to audit the Federal Reserve Bank and see who received how much money in the last few years has been drastically reduced. Read More Here

Video: The Greecing of America, Simplified

The repercussions from Greece’s fiscal crisis are starting to ripple around the world. But are lessons being learned? – View Video Here

REPOST – (RussiaToday) – Video: Greece was used as trojan horse by Washington and Goldman Sachs, to damage Eurozone

“The whole attack on Greece and the attack on the euro originated from a concerted strategy of Wall Street and US Institutions to permanently cripple or try to cripple the only alternative reserve currency anywhere in the world that can challenge the dollar,” Engdahl told RT. Video Link Here

Video: Instead of budgeting, Congress is….

With all of the attention on the BP oil spill, the European debt crisis and even financial regulatory reform, the fact that Congress hasn’t passed (and will likely not pass) a federal budget for fiscal year 2011 is flying under the radar. View video Here

(WPost) – More college-educated jump tracks to become skilled manual laborers – Read More Here

(LewRockwellShow) – Podcast: We Ain’t Seen Nothin’ Yet – Lew with Gerald Celente

What does the state-bank-military complex plan next? As the second stage of the financial crisis hits, says Gerald Celente, we can expect them to start another war to divert people’s attention from the wholesale robbery of the productive. Listen to Podcast Here

(LewRockwell) – Bailing Out Politicians Now? – Patrick J. Buchanan – Read More Here

(WRMEA) – U.S. Financial Aid To Israel: Figures, Facts, and Impact – Read More Here

(MarketWatch) – Fannie, Freddie to scrap NYSE stock listings – Read More Here

(EconomicPolicyJournal) – Bloomberg Considering Former-Goldman Man for Deputy Mayor – Read More Here

REPOST – (Snard) – More Than 1 In 5 American Children Are Now Living Below The Poverty Line

Perhaps the greatest victims of the economic nightmare that is unfolding right in front of our eyes are our children. Read More Here

(AlterNet) – “Lure People Into That Calm and Then Just Totally F–k ‘Em”: How All of Us Pay for the Derivatives Market

Derivatives are a hotbed of abuses and bailouts. So why are taxpayers footing the bill? Read More Here

(Infowars) – Why You Should Buy Gold and Silver – Mark Dice – Read More Here

(FinancialSense) – Gold Going to Parabolic Top of $10,000 by 2012 – For Good Reasons

No wishful thinking here! As I see it gold is going to a parabolic top of $10,000 by 2012 for very good reasons – sovereign debt defaults, bankruptcies of “too big to fail” banks and other financial entities, currency inflation and devaluations – which will all contribute to rampant price inflation.

Not surprisingly, I have company in that view: Continue reading

Economy

(Reuters) – Moody’s Cuts Greece Government Ratings to Junk

Moody’s on Monday downgraded Greece government bond ratings into junk territory, citing the risks in the euro zone/IMF rescue package for the debt-laden country. Read More Here

(InfoClearingHouse) – Bulging Inventory Signals Next Leg Down in Housing – Mike Whitney

Did the Federal Reserve collude with the big banks to hold millions of houses off the market until the Fed finished adding $1.25 trillion to the banks reserves? Did the Fed do this to make it appear that its bond purchasing plan (quantitative easing) was stabilizing prices when, in fact, it was the reduction in supply that stopped prices from plunging? It sure looks that way. This is from Bloomberg News: Read More Here

(HuffingtonPost) – “Dr. Death Says The U.S. Is Really, Really Sick.”

According to Roubini, for the US, the second half of 2010 will be worse than the first. US industrial capacity has fallen from 70 to 65%. Restocking depleted inventories is complete.

The United States, 25% of the global economy, can’t rein in its spending or cut debt. President George Bush inherited a surplus and went on to create the biggest deficit in US history (excepting WWII). Now, President Barack Obama is making matters worse by piling on more unsustainable debt. Read More Here

(DailyBell) – Doug Casey Revisits the Greater Depression and Explains the Realities of Investing in the 21st Century – Read More Here

(MoneyNews) – Volcker Warns: We Are Running Out Of Time

America is running out of time to fix its huge economic and fiscal problems, warns former Fed chair Paul Volcker, who now heads a financial advisory board to President Obama.

“Restoring our fiscal position . . . sorting out a reasonable approach toward limiting carbon omissions, and producing domestic energy without unacceptable environmental risks all take time,” Volcker writes in The New York Review of Books. Read More Here

(MarketWatch) – Bearish Schultz says hyperinflation may happen suddenly

Commentary: Crash-predicting letter says recovery might not come until 2028 Read More Here

(WPost) – Obama pleads for $50 billion in state, local aid

President Obama urged reluctant lawmakers Saturday to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid “massive layoffs of teachers, police and firefighters” and to support the still-fragile economic recovery. Read More Here

(Bloomberg) – Economy in U.S. Slows as States Lose Federal Stimulus Funds – Read More Here

(PaulWatson) – Central Bank Hid Housing Market Crash Forecast

New revelations concerning how the Irish Central Bank hid data in a 2006 report indicating that a housing market crash was imminent underscores once again how financial elites covered-up signs of the coming economic turmoil in order to exploit the crisis at the expense of the people.

Months before the Irish housing market started to crumble in early 2007, which was followed by a wider collapse in the UK property market, the Irish Central Bank buried data from a crucial report which suggested that a 15 per cent fall in house prices was around the corner. Continue reading

Economy

(Fox) – Video: Ron Paul on FOX Business News about Gold – Video Link Here

(BeforeItsNews) – Into the Abyss: The Cycle of Debt Deflation

One of the most famous quotations of Austrian economist Ludwig von Mises is that “There is no means of avoiding the final collapse of a boom brought about by credit expansion. Read More Here

(ZeroHedge) – US Mint Out Of Not Only Silver But Gold American Eagles As Well – Tyler Durden

Update: After following up with the Mint, any shipments and deliveries of American Eagle 2010 edition both gold and silver are TBD and the mint has no idea on when these will be received if at all this year. A small shipment of American Buffalo gold coins will go on sale on June 3 at noon. The mint expects these to sell out promptly. Read More Here

(PaulWatson) – Bilderberg 2010: Globalists Panic Over Euro Collapse

Elite to seek reassurances from Spanish leaders that ultimate agenda for global currency will not be derailed Read More Here

(RawStory) – Goldman Sachs sold $250 million of BP stock before spill

Firm’s stock sale nearly twice as large as any other institution; Represented 44 percent of total BP investment Read More Here

Goldman Sachs Sold 44% of its BP stock three weeks before the Deepwater Horizon explosion – View Stocks Here

US MINT OUT OF SILVER

From the US Mint:

Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”

The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.
Update: Due to the continued, sustained demand for American Eagle Silver Bullion Coins, 2009-dated American Eagle Silver Proof Coins will not be produced.

(ZeroHedge) – US Mint Sells More Gold Coins In May Than Any Month Since January 1999 – Tyler Durden

If anyone wants to know the reason why PHYS is once again trading at about a 10% premium to NAV all over again (yes mere days after the follow on offering) look no further than the US mint. Reuters reports that “The U.S. mint sold 190,000 1-ounce American Eagle gold coins in May, the largest number since January 1999, and the most in any month so far in 2010, according to a spokesman for the U.S. agency.” At least the mint still has gold coins to satisfy record demand. Buyers in Europe unfortunately are not so lucky, which is why in Greece recently an oz of sold for as high as $1,700. Read More Here

(ZeroHedge) – Another Blatant EUR Intervention Leads To 150 pip EURUSD Move In Seconds

With all the grace of a drunk Keynesian at an Austrian economists meeting, the Central Banks once again kill the EUR shorts and intervene to prop it up, for a ridiculous 250 pips intraday move. Read More Here

(CNBC) – Euro to Go Under $1.20 ‘Almost Certainly’: Gartman – Read More Here

(PaulWatson) – Iran To Dump 45 Billion Euros For Gold Bullion & Dollars

The Central Bank of Iran is set to dump a whopping 45 billion euros in exchange for gold bullion and dollars as Gulf states also prepare to flee from the ailing single currency amidst debt turmoil in Europe that threatens to disintegrate the entire region.

According to the Iranian state website Press TV, Iran’s central bank has already begun converting its euro reserves into gold and dollars as a response to the “downward spiral” of the euro, in the first of a three phase movement to flee from the currency. Read More Here

REPOST(Blacklistednews) – 25 Questions To Ask Anyone Who Is Delusional Enough To Believe That This Economic Recovery Is Real

If you listen to the mainstream media long enough, you just might be tempted to believe that the United States has emerged from the recession and is now in the middle of a full-fledged economic recovery. In fact, according to Obama administration officials, the great American economic machine has roared back to life, stronger and more vibrant than ever before. But is that really the case? Read More Here

(LVRJ) – Problems continue in high-rise condo market

It really didn’t take a $40,000 study from the Sierra Club to determine that Las Vegas was overbuilt, putting a strain on natural resources. Just look at the vacant buildings. Read More Here

(BusinessInsider) – How The U.S. Is Faced With Both Rocketing Inflation And Deflation At The Same Time

Calafia Beach Pundit shows how the U.S. has been experiencing both long-term inflation and deflation at the same time. Essentially, the cost of services has been rocketing higher, just as the cost of durable goods has been rocketing lower: Read More Here

(Neithercorp) – REPOST – Warning Signs Of Full Spectrum Collapse Are Everywhere

The sovereign debt crisis in Greece and many other European nations has, at least for the moment, opened a gap in the wash of financial disinformation that has prevailed in the mainstream media for the past year. The average American is now more aware of the terrible costs of living in an artificially driven and widely manipulated “global economy”, and has also been exposed (at least for the moment) to the very real frailties in our own markets, which have been hidden or downplayed by the government as well as disingenuous establishment economists. Read More Here

(June 1) – Video: Webster Tarpley Details TIm Geithner’s “America is Finished” Comment to China on Alex Jones Tv

Alex also talks with researcher and author Webster Tarpley. Alex also covers the latest news following the holiday and takes Continue reading

MSM: Tomorrow, A Major Political Event Is Coming, As The Rand Paul Era Begins

(BusinessInsider) – Tomorrow Rand Paul will take a major step towards being the highest ranking “Tea Party” politician in the country.

Rand — whose father Ron Paul is well-known and beloved by money –appears to be a shoo-in to win his Primary contest in Kentucky.

Current polls have him solidly leading establishment rival Trey Grayson, who was endorsed by sitting Kentucky Senator Mitch McConnell. That didn’t help much.

A quick look at his big issues should be familiar to anyone whose follow Ron Paul: Inflation, debt, sovereignty, guns, and ending bailouts. – Source: Business Insider

Film: Meltup – From The National Inflation Association

(InflationUS) – NIA believes Meltup is the most important economic documentary ever produced in world history. The Second American Revolution has begun! Please share this documentary with all of your friends and family members immediately!

See Also:

The Dollar Bubble

Our new must see documentary on the collapse of the U.S. dollar! Become educated so that you can survive and prosper while many Americans enter poverty! ***The best spent 30 minutes of your life! Continue reading

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

Video: Food Crisis 2010 and US Dollar Impact

(SicSemperTyrannis) – There has been lots of talk about a coming food crisis due to the massive looting of the nations under the cover of an “economic crisis”. Recently, a report published by The Trumpet has shown food prices spinning out of control.

In the article it shows some of the most startling year-over-year price increases in the U.S. markets: Continue reading

Video: Ron Paul – Euro Bailout Will Lead To Currency Collapse

(PaulWatson) –  As Europe is bailed out to the tune of nearly $1 trillion dollars, Congressman Ron Paul warns that the constant monetization of debt, allied with taxpayer-funded bailouts, will inevitably lead to runaway inflation and the collapse of paper currencies.

Under the terms of the Federal Reserve’s credit swap deal with the EU – in addition to an additional IMF bailout of which U.S. taxpayers will be picking up 20 per cent ($57 billion dollars) of the tab, Paul pointed out that not just taxpayers but “anybody that buys anything” will be funding the European bailout because of the attendant inflationary consequences. Continue reading

Economy

(RollingStone) – The Feds vs. Goldman

The government’s case against Goldman Sachs barely begins to target the depths of Wall Street’s criminal sleaze – Read More Here

(EconomicCollapseBlog) – Will The Gulf Of Mexico Oil Spill Be An Economic Disaster That The Gulf Coast Will Never Recover From? – Read More Here

(EconomicCollapseBlog) – How Is The U.S. Economy Supposed To Succeed When Our Politicians And The Big Banks Are Making Billions Of Dollars Betting Against It?

Most people around the globe think of America as a great “capitalist” economic machine, but the truth is that the U.S. financial system is essentially one massive betting parlor at this point. In fact, there has been a whole lot of easy money made in this betting parlor over the past several years by our politicians and by the big financial players down on Wall Street. So how did they make all of this money? They did it by betting against America. Read More Here

(GlobalResearch) – Covert Economic Agenda Beneath Immigration Reform – Shamus Cooke

How convenient for Goldman Sachs. Just as most working people were demanding that the Goldman bosses and other Wall Street criminals either be massively fined, jailed or worse, the nation’s attention is suddenly forced to react to the racist immigration law in Arizona. And although the two incidents are not directly related, they represent a trend that is likely to increase in the months and years ahead. Read More Here

(YahooFinance) – Video: Congress Refuses to Outlaw Insider Trading For Lawmakers

Even a cynic can find Washington’s hypocrisy shocking at times. The Wall Street Journal reports today a House bill that would force lawmakers to make greater disclosures on financial transactions and disallow them from trading on nonpublic information is going nowhere fast.

That’s right. Members of Congress are currently allowed to profit on insider trading! View Video Here

(WashingtonPost) – Illegal Immigrants cost feds more than $10 billion a year

A report that found that illegal immigrants in the United States cost the federal government more than $10 billion a year — a sum it estimated would almost triple if they were given amnesty — has drawn criticism from immigration advocacy groups. Read More Here

(WashingtonPost) – Effort to expand audits of Fed picks up steam in Senate

A contentious effort to expand audits of the Federal Reserve that sailed through the House despite heavy criticism appears to be picking up steam as the Senate considers broad new financial regulations. Read More Here

(GlobalResearch) – Cutting Public Debt: Economic Science or Class War?

In The Bullet no.345, Ingo Schmidt showed how the credit rating agencies have sparked an assault by international bondholders on the sovereign debt of Greece, where workers are being made to pay heavily for the fiscal crisis of the state. Read More Here

(WashingtonsBlog) – The Fed Must Be Audited: The Fraudulent Practices of the Federal Reserve

In March 2004, when Alan Greenspan was Fed chairman, he suppressed the opinions of those Fed officials who knew that there was a housing bubble.

Congressman Alan Grayson points out that – because the Fed unilaterally decided to hand out half a trillion to foreigners without any Congressional oversight, and that Bernanke testified that he didn’t know who got the loot – the Fed must be subject to an audit. Read More Here

(GlobalResearch) – Greece: Poverty and Social Implosion in the Wake of the Financial Bailout – Finian Cunningham

“This is not our debt, but we are being made to pay for it,” said one angry Greek worker, explaining why he like thousands of other Greeks are taking to the streets in protest at their country’s bail-out plan.
The so-called rescue package of €110 billion ($143 billion) facilitated by the European Union and International Monetary Fund (IMF) is not just aimed at shoring up Greece from total economic collapse. At stake too is the solvency of several other Eurozone countries – Belgium, Ireland, Italy, Portugal and Spain – and even the euro currency itself. Read More Here

(USAWatchdog) – Inflation and Bailouts Go Hand in Hand

Pick a financial fire and you can be sure the U.S. government will hose it down with gallons of money. AIG, General Motors, Chrysler, insolvent states, FDIC, Fannie, Freddie and all the banks are just a few of the blazes Uncle Sam has sprayed money on

Now, the Federal Reserve is printing up another $105 billion to send to Greece to help with its debt problem. Is the bailout cycle getting ready to take another turn bailing out the Banks? Read More Here

(CNBC) – European Union, Currency Are Headed for Collapse: Gartman

The current European debt crisis likely will not end until the euro collapses as a currency and takes the entire European Union with it, said Dennis Gartman, hedge fund manager and author of “The Gartman Letter.”
“I think the whole thing will go down to defeat, the whole thing will eventually unravel,” Gartman said in an interview with CNBC.com. Read More Here

(SmirkingChimp) – US Government Now 96.5% of the Mortgage Market Q1, 2010

If You Were NOT Paying for Your Neighbor’s Mortgage, How Many Home Sales Would There Be?

The US government IS the US housing market. Read More Here

(ABC30) – Video: City of Fresno Declares Fiscal Emergency

The city of Fresno is facing a $30.6 million budget shortfall and the mayor announced she wants to cut hundreds of city jobs. Video Link Here

Economy

(Bloomberg) – US Households Lost $100,000 From Crisis, Study Says

The financial crisis and recession cost US households an average of about $100,000 in lost wealth and income, according to a study by former Treasury Department economist Phillip Swagel. Read More Here

(InternationalForecaster) – Global Financial Conflagration: The World of Fiat Money is Buckling under the Pressure of Unpayable Debts – Bob Chapman

America and the world face a financial conflagration of immense proportions. The world of fiat money and massive credit is buckling under the pressure of unpayable debt. Each day the safe haven of gold and silver related assets become more attractive. We ask where else do you go for safety? A conflagration is a fire out of control and that is exactly the conditions the world faces today. The inflationary depression has smoldered for 14 months and it will soon accelerate. Read More Here

(IPSNews) – U.S. States Consider Starting Their Own Banks

At least eight U.S. states are considering proposals to start state-run banks in the wake of an economic crisis where many private banks ceased or greatly decreased their lending, literally shrinking the money pool available in state economies. Read More Here

(WashingtonsBlog) – Should a Stock Market Decline Stop the Goldman Prosecutions?

As of 2007, the bottom 50% of the U.S. population owned only one-half of one percent of all stocks, bonds and mutual funds in the U.S. On the other hand, the top 1% owned owned 50.9%.

From the San Francisco Chronicle: Read More Here

(TimesOnline) – Merkel misled Germans

She was initially hailed as the “Iron Chancellor” for holding out against a bailout for the Greeks. But this weekend Angela Merkel was accused of having misled voters after it emerged that Germany would contribute more than €25 billion (£21.7 billion) towards a rescue package. Read More Here

(Uruknet) – Confessions Of A Wall St. Nihilist: Forget About Goldman Sachs, Our Entire Economy Is Built On Fraud – Read More Here

(Telegraph) – Pakistan facing bankruptcy

Pakistan’s foreign exchange reserves are so low that the country can only afford one month of imports and faces possible bankruptcy. Read More Here

(BitsOfNews) – Pol/Econ: The 401k Scam

“The 401(k) will turn out to be the greatest systemic financial hoax ever perpetrated on an unsuspecting public.” – William Wollman, The Great 401(k) Hoax
Like most people I was told to plow as much money into my 401k pension plan as possible. So like millions of other workers out there, I did as I was told. By 2003 I had accumulated a nice little nest egg…that I couldn’t touch. Then one day I was in a bookstore and I happened across a book called The Coming Generational Storm. What I read about 401k’s that day made me immediately stop all contributions. Read More Here

(Bloomberg) – Carnivores’ Dilemma Widens as Pork Signals Record Meat Prices

U.S. meat prices may rise to records this summer after farmers reduced hog and cattle herds to the smallest sizes in decades, the result of surging feed costs linked to demands for more ethanol. Read More Here

(CatoInstitute) – Video: Advice to Tea Partiers

The Tea Party movement may endure, but its endurance will be a testament to its ability to understand that cutting government means having a long-term focus. John Samples, author of The Struggle to Limit Government and Director of the Cato Institute’s Center for Representative Government, offers an assessment of what Tea Partiers should do if they want to sustain an effort to cut government. Continue reading

Economy

(OnlineJournal) – The Big Six banks are shorting the American Dream

The Big Six investment banks, Goldman Sachs, Morgan Stanley, JP Morgan Chase, Citigroup, Bank of America and Wells Fargo, are “shorting the American Dream,” according to economist Simon Johnson and entrepreneur James Kwak in an interview on April 16, “Financial Regulation and Regulatory Capture” on Bill Moyers Journal. Here’s a summary of the big and important ideas and issues on the table. Read More Here

(GlobalResearch) – Break up the Banks and Combat Financial Crime – Danny Schechter – Read More Here

(InfoClearingHouse) – What Really Triggered the Financial Crisis? – The Shadow Banking System Blew Up – Mike Whitney Read More Here

(ZeroHedge) – Will Goldman Sachs Prove Greed is God?

The investment bank’s cult of self-interest is on trial against the whole idea of civilization – the collective decision by all of us not to screw each other over even if we can Read More Here

(FinancialSense) – Reports of Our Recovery Are Greatly Exaggerated – Peter Schiff

From all outward appearances, it seems that a grim chapter in U.S. economic history has come to an end. Newsweek magazine declares that “America is Back,” government statistics indicate revival, and our stock market has put in a rally for the record books (by rate of ascent, not highs – we are still more than 25% below the 2007 peak). Read More Here

(SilverBearCafe) – The Middle Class Game Is Up: We’re Heading to a Slave Labor Planet Read More Here

(FinancialTimes) – US prepares to push for global capital rules

The US is preparing to pivot from domestic regulatory reform to a push for a tough new international capital regime after the weekend’s G20 and International Monetary Fund meetings glossed over differences between leading economies. Read More Here

(USAWatchdog) – Housing Sales and Inflation Surge

The big news in the economy last week was new home sales jumped 27% in March. It was the best monthly increase percentage wise since John F. Kennedy was in office. What the mainstream media did not tell you was new housing starts jumped up from a very low level– like the lowest level in history! This chart from shadowstats.com illustrates the point: Read More Here

(TimesOnline) – Greek meltdown in danger of spreading

Germany, France and the International Monetary Fund (IMF) must act quickly to bail out Greece to prevent a slide in confidence in financial markets, Alistair Darling said yesterday. Read More Here

(CNNNews) – Obama Sends Mixed Message on VAT as Fiscal Commission Prepares First Meeting Read More Here

(WashingtonsBlog) – Unemployment for Those Who Earn $150,000 or More is Only 3%, While Unemployment for the Poor is 31%

Boeing CEO Jim McNerney succinctly summarized a recent study by Northeastern University’s Center for Labor Market Studies regarding unemployment rates for different income brackets: Read More Here

(PaulWatson) – Video: Obama Debt Czar Says Tax Hikes “On The Table”

The Democratic co-chairman of President Obama’s debt commission, Erskine Bowles, told Fox News Sunday that tax hikes for Americans are “on the table,” despite Obama’s election campaign promise that no individual earning under $200,000 dollars a year would be hit with any tax increases. Read More Here

Video: Gold, Cash, Currency, and Inflation Trends

Pastor Timothy Neptune (First Baptist Church of Marco Island) discusses the realities of our current economic crisis with Steve Meyers of Grainbelt Commodities. For more information, including the complete viewing of each study, visit us at http://www.fbcmarco.com Continue reading

Economy

(PressTV) – Goldman profited from market crash

A US Senate panel has revealed emails that show Goldman Sachs Group Inc profited massively by engaging in the sale of investments that were structured to fail. Read More Here

(1010Wins) – Hundreds Camp Out in Queens Hoping for Elevator Jobs

Hundreds of job seekers camped out over the weekend at a union office in Queens hoping to be first in line for a chance to apply for an internship in the field of elevator repair. Read More Here

(Sky) – Goldman’s Frankenstein Moment

If the knives were out for Goldman Sachs before today, they’re now hovering perilously close to the Wall Street bank’s throat – and Adair Turner, chairman of the Financial Services Authority, is likely to be paying particularly close interest. Read More Here

(PRNewsWire) – U.S. Food Inflation Spiraling Out of Control

The Bureau of Labor Statistics (BLS) today released their Producer Price Index (PPI) report for March 2010 and the latest numbers are shocking. Food prices for the month rose by 2.4%, its sixth consecutive monthly increase and the largest jump in over 26 years. NIA believes that a major breakout in food inflation could be imminent, similar to what is currently being experienced in India. Read More Here

(WSJBlog) – Number of the Week: 103 Months to Clear Housing Inventory

All this means that little can stop banks’ inventory of distressed homes from growing. Too many people owe too much more on their homes than they can afford. For the housing market, that could mean a long-lasting hangover. Read More Here

(Fox) – GM Used Bailout Money to Repay Loan

A top Senate Republican on Thursday accused the Obama administration of misleading taxpayers about General Motors’ loan repayment, saying the struggling auto giant was only able to repay its bailout money by dipping into a separate pot of bailout money. Read More Here

(GlobalResearch) – For $10 Billion of “Promises” Haiti Surrenders its Sovereignty

It was fitting that the Mar. 31 “International Donors Conference Towards a New Future for Haiti” was held in the Trusteeship Council at the United Nations headquarters in New York. At the event, Haitian President René Préval in effect turned over the keys to Haiti to a consortium of foreign banks and governments, which will decide how (to use the conference’s principal slogan) to “build back better” the country devastated by the Jan. 12 earthquake. Read More Here

(Technocrati) – Thousands Of Teachers To Be Laid Off – What Economic Recovery?

Thousands of teachers are about to lose jobs in many states. To manage massive budget deficits, several layoff notices were sent out to 22,000 teachers in California, 17,000 in Illinois, and 15,000 in New York. The numbers are expected only to increase in the coming months. Read More Here

(RawStory) – E-mails Show Goldman Execs Boasting as Housing Meltdown Unfolded

Goldman Sachs’ top executives were aware that the company made money by playing against the US housing market, according to internal e-mails released Saturday. Read More Here

(OpEdNews) – Profiling CEOs and Their Sociopathic Paychecks

One of the questions often asked when the subject of CEO pay comes up is, “What could a person such as William McGuire or Lee Raymond (the former CEOs of UnitedHealth and ExxonMobil, respectively) possibly do to justify a $1.7 billion paycheck or a $400 million retirement bonus?” Read More Here

Video: Gullible Nation – More False Hope Continue reading

Economy

(RadicalReactionary) – Industrial Wind and the Wall Street Cap and Trade Fraud

Financial scandals are not new. Schemes to leverage risk and cheat the public are mainstays of the mad “Cap and Trade” stratagem, in the ongoing war, against genuine free enterprise. The latest ploy is the industrial wind swindle. Read More Here

(ChicagoTribune) – Illinois bank-owned foreclosures double in first quarter

Almost 15,000 Illinois homeowners lost their homes to foreclosure in the year’s first three months, twice as many as the number that went back to lenders during 2009’s first three months, new figures show. Read More Here

(SeekingAlpha) – Foreclosure Pipeline Is Full to Bursting

According to realtytrac.com, foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 932,234 properties in the first quarter, a 7 percent increase from the previous quarter and a 16 percent increase from the first quarter of 2009. Read More Here

(Telegraph) – Goldman Sachs: the bank that thought it ruled the world

Goldman Sachs was ‘doing God’s work’ – but it is now being investigated for fraud. Harry Wilson reports. Read More Here

(HuffingtonPost) – The 10 SCARIEST Charts Of The Recession – Read More Here

(BigGovernment) – White House Caught Altering Stimulus Baseline Projection by 7 Million Jobs

The number of jobs in the U.S. is currently 129.7 million. So to justify the Administration’s current claim of 2.8 million jobs “created or saved” by stimulus, they need to also claim that without that stimulus there would be only 126.9 million jobs. That’s exactly what they do, displayed as the “baseline projection” level in the graphic below from an April 14, 2010 report: Read More Here

(DailyWealth) – One of the World’s Biggest Oil Producers Is Going Bust – Read More Here

(AP) – Recession is ending? Some Americans don’t buy it – Read More Here

(NYTimes) – For Cash-Strapped States, Sin Is Sure Lucrative – Read More Here

(USAWatchDog) – Fraud, It’s Much Bigger Than Goldman Sachs

Goldman Sachs was charged with fraud last week by the Securities and Exchange Commission. The investment bank says the charges are “unfounded in law and fact.” Regulators allege “Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third party,” SEC Enforcement Director Robert Khuzami said in a statement. Read More Here

(InternationalForecaster) – Don’t Look to Banks To Solve Economic Problems – Bob Chapman

One of the reasons for less bank lending is the almost non-existent market for securitized bonds. Investors have so many bad loans on their books that they refuse to commit to further risky investments. This means banks are forced to hold this toxic paper on their books and that inhibits them from lending at higher levels. Read More Here

(NeitherCorp) – Get Ready, Inflation Is On The Way

In the professional financial world, the term “inflation” has many inferences, consequences, supposed benefits, and definitions. Read More Here

(EconomicCollapse) – If The U.S. Economy Goes Into The Toilet Will It Result In A Complete And Total Collapse Of Society? Read More Here

(BusinessInsider) – Congressmen Urge Dramatic Expansion Of Goldman Investigation, Demand Big Payback To AIG

The easiest reason to think that the Goldman Sachs (GS) news will metastasize is that so many players potentially have an interest in seeing it expand. Read More Here

(InfoClearingHouse) – High Frequency Trading – High-tech Highway Robbery – Michael Whitney

The Securities and Exchange Commission (SEC) knows that High-Frequency Trading (HFT) manipulates the market and bilks investors out of tens of billions of dollars every year. But SEC chairman Mary Schapiro refuses to step in and take action. Instead, she’s concocted an elaborate “information gathering” scheme, that does nothing to address the main problem. Schapiro’s plan–to track large blocks of trades by large institutional investors– is an attempt to placate congress while the big Wall Street HFT traders continue to rake in obscene profits. It achieves nothing, except provide the cover Schapiro needs to avoid doing her job. Read More Here

(InfoClearingHouse) – A Greater Threat Than Terrorism – Outsourcing the American Economy – Paul Craig Roberts

Is offshore outsourcing good or harmful for America? To convince Americans of outsourcing’s benefits, corporate outsourcers sponsor misleading one-sided “studies.” – Read More Here

(GlobalResearch) – Going After Goldman: A Crackdown on Financial Crime or a Kabuki Play Maneuvre to Avoid Bringing Criminal Charges – Danny Schechter

Fox Business News was engrossed in interviewing a blonder than thou reality TV bimbo when the news that the Securities And Exchange Commission was filing fraud charges against Goldman Sachs broke on Friday afternoon. Read More Here

(Fox) – Video: Ron Paul – Fox Business

On Monday, April 19, 2010, Congressman Paul was interviewed on Fox Business’ “Varney & Co.” concerning financial regulatory reform legislation and how the Federal Reserve and our current regulatory system encourage corruption in our economy. Continue reading

Chomsky Warns Of Risk Of Fascism In America

(PoliticalTheatrics) – Noam Chomsky, the leading leftwing intellectual, warned last week that fascism may be coming to the United States.

“I’m just old enough to have heard a number of Hitler’s speeches on the radio,” he said, “and I have a memory of the texture and the tone of the cheering mobs, and I have the dread sense of the dark clouds of fascism gathering” here at home.
Continue reading

It’s 2007 All Over Again

(Goldseek) – Several weeks ago I speculated that we were “On the Brink of an Asset Explosion . So far events are unfolding about as expected.  I might even say they are moving more aggressively than I thought.  Well actually, there’s no doubt this cyclical bull is unfolding much more aggressively than anyone expected.

Compare the angle of assent of this cyclical bull to the last one. Read More Here

A quick tour of hyperinflation and the possible consequences for America

(BackWoodsHome) – “No one can predict the future,” I heard a voice say as I walked into the offices of Backwoods Home Magazine. The speaker went on to add, “But there are a lot of reasons to believe we are in danger of entering a period of hyperinflation of the dollar.”

I hesitated because I knew the voice and I followed it to Dave Duffy’s office. Dave’s the guy who publishes this magazine. But the speaker I was hearing was none other than our poker-playing friend from Southern California, O.E. MacDougal. Continue reading

The Guy Who Stole All Our Money Now Wants to Steal Our Paycheck, Too

(WashingtonsBlog) – Ben Bernanke has funneled trillions of dollars worth of bailouts, guarantees and sweetheart deals to U.S. (and foreign – and see this) banks.

This money was pickpocketed from you and me, directly (through government spending) and indirectly (increasing debt costs, future inflation, etc). Continue reading

Economy

(Reuters) – EU safety net not quite enough to break Greek fall

The thing about a safety net is that it all depends where you hang it. Read More Here

(Reuters) – Office vacancy rate hits 16-year high

The U.S. office vacancy rate in the first quarter reached its highest level in 16 years, but the decline in rents eased and crept closer to stabilization, according to a report by real estate research firm Reis Inc. Read More Here

(GlobalResearch) – Crisis of the Global Economy: Trade Conflicts and “Fair Trade”

Trade is now a favorite topic for many politicians and the media, especially between China and the U.S. Likewise, labor and progressive groups continue to delve deeper into trade issues, offering a variety of working class solutions. The far right, too, is obsessed with trade, using it to fuel nationalism and anti-China sentiment. No subject is prone to so much demagoguery combined with so little explanation.
Before one can offer a vision of “fair trade,” it’s helpful to understand what “trade” is. Read More Here

(GlobalResearch) – The Greek Financial Crisis and the European Timetable

Now that the Lisbon Treaty of 2009 is behind us, after it was forced through Ireland, after the Irish were told to keep voting on this until they said “yes”; now the European Union moves on to the next item on its timetable. The next step is to create a centralized Ministry in Brussels for Finance and Taxation, thereby further eroding the diminishing national sovereignty of the now twenty-seven member states; and what better way to do this than to organize a specific potshot against the little country of Greece? Read More Here

(GlobalResearch) – Imminent Dangers of Stagflation: U.S. Economic Policies Fail to Avert Hyperinflation

The United States send weak economic signals insufficient for a meaningful and sustainable economic expansion required to gain back confidence of national and foreign investors, futureofdollar.com finds in the present research. Political decision-making process is paralyzed by numerous disabilities, while external market constraints obstruct economic recovery. Stagflation is an imminent danger. Read More Here

(InfoClearingHouse) – What The Top U.S. Companies Pay In Taxes

As you work on your taxes this month, here’s something to raise your hackles: Some of the world’s biggest, most profitable corporations enjoy a far lower tax rate than you do–that is, if they pay taxes at all. Read More Here

(BusinessInsider) – Fed Still Fighting Over Whether The Problem Is Inflation Or Deflation

The Federal Reserve can’t make up its mind what the problem is. Specifically, it can’t agree on whether to fight inflation or deflation. So don’t expect any violent moves anytime soon. Read More Here

(WashingtonPost) – U.S. government a big commercial real estate player

Evidence of the federal government’s growing influence on Washington area commercial real estate is illustrated in big deals it is working on both sides of the table: auctioning a 127,000-square-foot Bethesda building previously occupied by the National Institutes of Health and moving to snatch up vast spaces in buildings on the private market that have been vacant for months. Read More Here

(WSJ) – Bank of Mom and Dad Shuts Amid White-Collar Struggle – Read More Here

(SilverBearCafe) – Will fraud lift gold prices to $10,000/ounce?

After the sub-prime catastrophe in banking and realty sector, which led to the global recession in 2008-09, it is the turn of bullion markets now. – Read More Here

(Gallup) – Underemployment Rises to 20.3% in March

Gallup Daily tracking finds that 20.3% of the U.S. workforce was underemployed in March — a slight uptick from the relatively flat January and February numbers. Read More Here

(InternationalForecaster) – The Smoke and Mirrors Economy – Bob Chapman

We have an economy run on smoke and mirrors, based on the manipulation of markets. That was accomplished via the executive order signed by President Ronald Reagan in 1988 in the aftermath of the stock market collapse of October 19, 1987, known as the “President’s Working Group on Financial markets.” This order intended to be implemented during emergencies has been used to manipulate markets worldwide 24/7. Read More Here

(CNN) – Unemployment Benefits Expire for Thousands

Extended unemployment benefits will temporarily expire for thousands of Americans on Monday because the Senate went on its spring recess without approving a one-month deadline extension. Read More Here

(MSN) – Inflation warning etched in steel

Pretend it’s 1933, as so many in the deflation camp think it is or soon will be (at least from the price-of-everything standpoint). If last Wednesday you reached for a copy of that day’s Financial Times, would you have expected to see the following headline — “Steel prices set to soar: Everyday goods will cost more” — in large print above the fold?

I don’t think so. Read More Here

(Reuters) – Oil hits 18-month high on economic outlook

U.S. crude futures hit an 18-month high on Monday, climbing toward $86 per barrel on expectations of faster-than-expected economic recovery and increasing demand for fuel. Read More Here

(BusinessInsider) – The Scariest Jobs Chart Ever (Another View)

Here’s another view of what we’ve been calling the “Scariest Jobs Chart Ever.” It’s from Calculated Risk, and it shows the percent of job losses since the peak for all the post-war recessions. Read More Here

Video: LBMA Bullion Market Ponzi Scheme. Financial Manipulation in the Gold and Silver Markets Continue reading

The Coming Dictatorship

In my article ”Saying Yes to the Party of No,” I commented on how pleased I’ve been to see Glenn Beck talking about a subject I’ve been writing about since the late seventies: a government-declared state of emergency leading to a ”temporary” dictatorship.

I have long believed that the mathematics of an insatiable entitlement society in the U.S. guarantees a runaway inflation, which likely would be followed by anarchy and chaos – a perfect excuse for government to resort to strong-armed totalitarian measures to ”restore order.” My model has always been Germany’s Weimar Republic in the 1920s, where runaway inflation brought Adolf Hitler to power. Continue reading

Economy

(AmpedStatus) – Is It Time for Law Abiding American Citizens to Stop Paying Their Taxes and Start a New Government?

The evidence is now overwhelming. The United States government has facilitated the theft of trillions of dollars of national wealth and 99% of the US population no longer has political representation. Read More Here

(InfoClearingHouse) – Timothy Geithner is a Sniveling Scamster – Mike Whitney – Read More Here

(Bloomberg) – Europe Inflation Jumps More Than Economists Forecast

European inflation accelerated more than economists forecast on higher oil prices, while the unemployment rate reached double-digits for the first time since 1998. Read More Here

(VOANews) – Eurozone Unemployment Hits 10 Percent – Read More Here

(BusinessWeek) – Greece May Be Heading to ‘Square One’ as Bonds Fall – Read More Here

(Guardian) – Geithner says unemployment is ‘terribly high’

The treasury secretary Timothy Geithner warned today that US unemployment was “terribly high” and would remain “unacceptably high for a very long time”. The Obama administration was “very worried” about the jobless rate, Geithner said in an interview, which has soared to almost 10% in the wake of the worst economic downturn since the depression. Read More Here

(ChicagoTribune) – Debt dangers – When Warren Buffett looks safer than Uncle Sam – Read More Here

(BobChapman) – More Financial Bubbles Ahead in the US Housing Market

Bubbles have a hard time coming to an end, especially in residential real estate. Underlying forces such as government intervention to prolong the agony and the abject stupidity of builders extends the bubbles. Read More Here

(DailyTelegraph) – Sell-off in US Treasuries raises sovereign debt fears

The yield on 10-year Treasuries – the benchmark price of global capital – surged 30 basis points in just two days last week to over 3.9pc, the highest level since the Lehman crisis. Alan Greenspan, ex-head of the US Federal Reserve, said the abrupt move may be “the canary in the coal mine”, a warning to Washington that it can no longer borrow with impunity. He said there is a “huge overhang of federal debt, which we have never seen before”. Read More Here

(CNN) – The coming inflation wave

Whether the American economy is in an inflationary or deflationary environment sounds like it should be a fundamental and settled question. But due to the unprecedented financial crisis, the answer is actually subject to intense debate among economists. Read More Here

(Bloomberg) – U.S. Companies Unexpectedly Cut Payrolls in March

Companies in the U.S. unexpectedly cut payrolls in March, according to data from a private report based on payrolls. Read More Here

(SmirkingChimp) – BE CAREFUL:Cops giving out more speeding tickets due to recession.

The recession may be claiming a new victim: the 5-10-mph “cushion” police and state troopers across the USA have routinely given motorists exceeding the speed limit. Read More Here

(AP) – Ohioans say they’re pursued for paid-off fines

Some motorists are complaining that old traffic fines they already paid to one Ohio county are coming back to haunt them. About 1,000 people have contacted officials in southeast Ohio’s Hocking County this week to say they’ve heard from a collection agency about tickets already resolved, in some cases as far back as 20 years ago. Read More Here

(Reuters) – Abu Dhabi sheikh, sovereign fund head, found dead

An Emirati sheikh who headed one of the world’s biggest sovereign wealth funds has been found dead four days after a glider crash in Morocco, state media said on Tuesday. Read More Here

(TheGlobeAndMail) – Tour operators scramble as Skyservice shuts down

Skyservice Airlines has abruptly shut down, leaving tour operators that hired the charter carrier scrambling to find other planes for travellers. Read More Here

(NewsAU) – Hefty retail sales slide and weak building figures may halt rate rise

AN UNEXPECTEDLY large fall in retail sales and lower-than-expected building approvals could see the Reserve Bank hold interest rates steady next week, economists say. Read More Here

(Bloomberg) – Irish Banks Need $43 Billion on ‘Appalling’ Lending

Ireland’s banks need $43 billion in new capital after “appalling” lending decisions left the country’s financial system on the brink of collapse. Read More Here

(InfoClearingHouse) – Attention Deficit Democracy – Ralph Nader

A society not alert to signs of its own decay, because its ideology is a continuing myth of progress, separates itself from reality and envelops illusion. Read More Here

(InfoClearingHouse) – When It Comes to Innovation, Is America Becoming a Third World Country?

Is America turning into a third world country? That was the provocative topic of a panel I took part in last week at a conference sponsored by The Economist entitled “Innovation: Fresh Thinking For The Ideas Economy.” Read More Here

(Truthout) – Video: California Banks: Who Are They Working For? – View Video Here

(Bloomberg) – California Hotel Foreclosures Climb as Unemployment Cuts Travel – Read More Here

(AlterNet) – Banks Could Be Biggest Winners in Obama’s New Foreclosure Plan – Read More Here

(BuffaloNews) – Paterson delays payment of $2 billion to schools Read More Here

(Examiner) – Economist Tim Madden: U.S./Canadian consumer interest calculation method a monstrous fraud – Read More Here

(WeAreChange) – Video: Bob Schulz – We The People Go After The Banksters – View Video Here

Video: Healthcare Bill Passes, Is This the Final Nail in the US Economy?

The Congressional Budget Office is estimating that the healthcare bill will cost $940 billion over the next 10 years, but if history is any indication, the actual cost will likely be several trillion dollars. NIA believes the healthcare bill will be the final nail in the coffin of the U.S. economy and will just about guarantee that we will see hyperinflation by the year 2015. Continue reading

Video: Mish and Faber – US Destined for Failure

The government leads you to believe that we are in an economic recovery…however it is actually the total opposite. A depression and inflation are what the US is looking forward to. Continue reading

Life is Great … But Only If You Are Already Mega-Wealthy

(WashingtonsBlog) – As I pointed out in November:

A report by University of California, Berkeley economics professor Emmanuel Saez concludes that income inequality in the United States is at an all-time high, surpassing even levels seen during the Great Depression.

The report shows that:

  • Income inequality is worse than it has been since at least 1917
  • “The top 1 percent incomes captured half of the overall economic growth over the period 1993-2007″
  • “In the economic expansion of 2002-2007, the top 1 percent captured two thirds of income growth.”

Continue reading

End Game Nears Climax

(Infowars) – From planned financial meltdowns, to engineered economic collapses, to increased taxes and inflation, to social upheavals, laboratory concocted viruses, deadly vaccines, state sponsored terrorist attacks, and more wars, the Controllers of the International Monetary/Banking Cartel are bringing their end-game to a climax, which is their imperious One-World Government. Continue reading

Video: Inflation, Debt, and Wish-it-were-so Economics

On January 26, 2010, Freedom Party leader Paul McKeever was a panelist on “On the Line” (CTS) with host Christine Williams.

In these excerpts, Paul and the panel discuss inflation, debt, and economics experts who believe an economy can be kept healthy by encouraging people to convince themselves that it is healthy. Continue reading

Video: Marc Faber – “Total Collapse Will Come” – Economic Armageddon – Dollar Crash

Marc Faber predicts with certainty that the United States will go through high inflation and a lower standard of living. Expect wars and currency re-evaluation. Continue reading

Economy

(CNBC) – Market Tips: Get Out of Stocks and Bonds

Global stocks were mixed Friday, with European shares paring earlier gains after preliminary data showed the euro zone economy’s recovery faltered in the fourth quarter, on top of investors still uncertain as to what will happen to Greece. Read More Here

(Fox) – After Rare Bipartisan Deal, Reid Slashes Jobs Bill

Senate Majority Leader Harry Reid abruptly announced Thursday that he had drastically slimmed down the bill from $85 billion to just $15 billion, tossing out key priorities of both Republicans and Democrats. Read More Here

(WaIndep) – Credit Suisse Declares the U.S. a Riskier Investment Than Indonesia

Amid fears that Switzerland might come to an agreement with the United States on banking privacy and tax evasion disclosures, Credit Suisse issued a report identifying those countries it determined to have the highest risks of default on their sovereign debts. Number 16 on the list was the United States, based primarily on its 2009 budget deficits and government debt. Read More Here

(Reuters) – German halt, Italian reverse hit euro zone recovery

Europe’s post-recession recovery hit a roadblock on Friday as German economic growth unexpectedly halted and Italy went into reverse in the final quarter of 2009, knocking total euro zone GDP growth almost flat. Read More Here

(HindustanTimes) – India’s food inflation inching to 18 per cent

Even as Prime Minister Manmohan Singh stressed last week that the worst was over on rising prices of essential items, India’s annual food inflation based on wholesale prices rose to 17.94 per cent for the week ended Jan 30. Read More Here

(Fox) – Obama Signs Bill Lifting Federal Debt Limit to $14.3 Trillion

President Obama has signed legislation lifting the cap on government borrowing to $14.3 trillion. Read More Here

(Bloomberg) – Beijing Seen Vacant for 50% as Chanos Predicts Crash

Jack Rodman, who has made a career of selling soured property loans from Los Angeles to Tokyo, sees a crash looming in China. He keeps a slide show on his computer of empty office buildings in Beijing, his home since 2002. The tally: 55, with another dozen candidates. Read More Here

Stick a Fork in it, The Dollar is Done

News junkies, currency buffs, and economists of an Austrian tilt have been having quite an entertaining few weeks. Between massive blizzards from Virginia to New England, another baseless Dollar rally, and the hilarious notion that a little Greek debt could unwind the Euro, there certainly has been plenty to talk about. Read More Here

(Aletho) – New Phase, Not Just Another Recession

It is becoming increasingly clear that the financial meltdown of 2008 and the subsequent economic contraction that continues to this day represent more than just another recessionary cycle. More importantly, they represent a structural change, a new phase, the phase of the dominance of “finance capital,” as the late Austro-German political economist Rudolf Hilferding put it. Read More Here

(Portfolio) – Danger Ahead for Small Banks

The small banks that do much of the lending to small business face a crisis in the near future that could force thousands of them to cut back on loans. Read More Here

(StarTribune) – Foreclosure numbers may foretell delinquency surge

The number of U.S. households facing foreclosure in January increased 15 percent from the same month last year, and a surge in cash-strapped homeowners who’ve fallen behind on mortgages could be on the way. Read More Here

(AJC) – Metro Atlanta foreclosures skyrocket this month – Read More Here

(ABC15) – Report: Valley foreclosures not slowing down – Read More Here

(DallasBiz) – Dallas/Fort Worth quarterly foreclosure postings jump 22% – Read More Here

(NYDaily) – Number of New Yorkers at risk of losing their home to foreclosure surges, new statistics show – Read More Here

(MarketTicker) – 30 Year Auction – A Solid ‘F’ – Read More Here

(DailyMail) – Welcome to boarded-up Britain: One in eight shops now stand empty as recession hits high streets

The number of empty shops blighting our high streets has trebled since the start of the credit crunch, it was revealed yesterday. Read More Here

(MailOnline) – Did Goldman Sachs rig the bank-tax vote? Foul play suspected in Richard Curtis internet campaign – Read More Here

(DailyExpress) – Housing Minister: It’s Ok to Lose Your Home

LABOUR’S housing minister yesterday insulted millions struggling to survive the recession by claiming that having their homes repossessed might be their “best option”. Read More Here

(DailyExpress) – Labour’s ‘100 %’ Death Tax

MILLIONS of people could lose almost every penny of their assets under a new “death tax” being considered by Labour to fund care for the elderly. Read More Here

Global Economic Crisis: Look To Asia for The Financial Tsunami Wave, Not Europe

(FutureFastForward) – This will be one of my shortest articles as it is written as a RED ALERT.

When I send out Red Alerts, it is a dire warning and a call for immediate action to protect your wealth (if there is any remaining). Continue reading