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

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

The Bright Side of Hyperinflation

(LewRockwell) – Despite encouraging words from politicians and the establishment media’s talking heads, it is clear to me, and I believe most Americans who do not live in a regime ivory tower, that we are not coming out of the recession. In fact, things appear to be getting worse as unemployment continues to rise and businesses cut salaries or shut down. The fears that this recession could turn into another Great Depression are very real, as we have lost so much of our capacity to create wealth and the federal government seems determined to use up any remaining capital fighting endless wars, funding endless entitlement programs, and spending trillions of dollars on non-wealth-creating “stimulus” programs while handing out even more trillions to their bankster buddies and corporate cronies. However, another 1930s-style depression is not what keeps me up at night with worry. Continue reading

Economy

(RBC) – Canadians’ expectations for overall economic performance drop

According to the March RBC Canadian Consumer Outlook Index, most Canadians (65 per cent) are losing sleep over their finances. Read More Here

(WichitaEagle) – Report: More seniors to be homeless by 2020

A report released Monday by the National Alliance to End Homelessness projects a 33 percent increase over the next decade in elderly people who are homeless. Read More Here

(MarketSkeptics) – 2010 Food Crisis Taking Shape – Read More Here

(AP) – Verizon to take $970M charge from health care bill

The corporate tax impact of the recent health care overhaul grew Thursday as Verizon Communications Inc. announced it will record a related $970 million non-cash charge in the first quarter. Read More Here

(WakeUpAmericans) – More On Obama’s Offshore Drilling ‘Show’

Institure for Energy Research (IER) sticks to the facts of what Barack Obama’s actual proposals about off shore drilling really does: Read More Here

(SafeHaven) – You Still Believe The Fed Can Stop Deflation?

Think back to the fall of 2007. The deflationary “liquidity crunch” that over the next year-and-a-half cuts the DJIA in half, decimates commodities, real estate and world markets is only starting. Almost no one believes that the crash is coming — to a large degree, because everyone is convinced that the U.S. Federal Reserve Bank, with Ben Bernanke at the helm, will never allow deflation to happen: It can just print money! Read More Here

(SilverBearCafe) – Gold and Silver Equal Future Purchasing Power

Today it is as difficult for a person to fathom gold at $5,000 per ounce as it was for a person to fathom $1,000 per ounce back in 2002. After all, hold a Krugerrand, in your hand and try to imagine it being worth the purchasing power of $5,000 – enough to buy a good running, nice looking used car. Read More Here

(Blog) – 6 Cities That Were Caught Shortening Yellow Light Times For Profit

Short yellow light times at intersections have been shown to increase the number of traffic violations and accidents. Conversely, increasing the yellow light duration can dramatically reduce red-light violations at an intersection. Read More Here

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

(GlobalResearch) – Financial Fraud and the Economic Crisis – A Cavalcade of U.S. Corruption Is Finally Being Scrutinized – Read More Here

(HuffingtonPost) – It’s A Ponzi Scheme the Gold Market

We’ve had a string of amazing revelations recently regarding the world’s precious metals market. This is important stuff for anyone (like me) who holds gold as a means to avoid currency turmoil and counterparty risk. Read More Here

(ZMagazine) – Big Government, Budget Deficits, Entitlements and the “Centrist” Ploy – Read More Here

Geithner: Pickpocketing Trillions from the People to Give to the Oligarchy Was “Deeply Unfair”, But We … Um … Had To

(WashingtonsBlog) – Tim Geithner told the Today Show that:

It’s “deeply unfair” that some financial institutions that got taxpayer-paid bailouts are emerging in better shape from the recession than millions of ordinary Americans.

Geithner also argued that President Barack Obama had no choice when confronted with a financial crisis.

“As the president has said, we had to do some very unpopular things,” Geithner said. “People looked at what had happened.””It’s not fair. It’s deeply unfair,” he said. “He (Obama) had to decide whether he was going to act to fix it or stand back … and that would have been calamitous for the American economy.”

Continue reading

Economy

(ZeroHedge) – Video: ECU Group’s Philip Manduca “We Are At A Tipping Point” And The Only Thing That May Save The Euro Is A Collapse Of The US

For once, some actually good insight from a CNBC guest. Philip Manduca, Head of Investment of the ECU Group, discusses Greece and the very severe implications of what the final outcome will look like. “Trichet said the Greeks are crooks, and they’ve been lying about the numbers. There is a deeply embedded corruption within the Eurozone. Combined with the endemic European socialism and there is just no way you are going to get spending cuts and tax raises and maintain a GDP that makes any sense of the percentage aspect of debt to GDP. So the whole show is wrong. This is an intractable situation, this is going to continue on and on. The onle hope for the Eurozone, and the Euro as a currency, is that sameone takes the spotlight soon, and that may be the United States.” Watch the rest as Philip’s perspective is spot on…Not to mention that he sees gold as the only alternative to the fiat bonfire soon to engulf the western world. – Video Link Here

(MarketWatch) – Goldman Sachs’ Hu may join China central bank

Fred Hu, an investment banker with Goldman Sachs Group Inc.  is likely to take up a senior post at China’s central bank after formally stepping down from the Wall Street firm in April, the state-run China Daily said Friday, citing people familiar with the matter. Read More Here

(SeattleTimes) – Columbia Center misses mortgage payment

The owner of the Northwest’s tallest building, the 76-story Columbia Center, missed a mortgage payment this month, providing fresh evidence of the troubles facing downtown Seattle office landlords. Read More Here

(WTNH) – Marlin Firearms closing, 265 laid off

Employees at Marlin Firearms in North Haven just got word late Thursday afternoon that they will be losing their jobs in the next 18 months. Read More Here

(MailOnline) – Economic power grab by EU: Plan to control Britain’s economy as Europe bails out Greece

European leaders have launched an audacious bid to create an ‘economic government of the EU’ – even as they were forced to go cap in hand to the International Monetary Fund for a £20 billion bailout of debt-stricken Greece. Read More Here

(SunSentinel) – Florida unemployment hit record 12.2 percent in February

Florida’s unemployment hit 12.2 percent in February, the highest rate on record, soaring past even the rates recorded in the 1973-1975 recession, the state work force agency said Friday Read More Here

(SJ-R) – State Police plan massive layoffs, HQ closures

The Illinois State Police will lay off more than 460 troopers and close five regional headquarters by this fall, acting State Police director Jonathon Monken said Tuesday. Read More Here

Economy

(USAToday) – States Freeze Tax Refunds

Residents eager to get their state tax refunds may have a long wait this year: The recession has tied up cash and caused officials in half a dozen states to consider freezing refunds, in one case for as long as five months. Read More Here

(DailyMail) – British law firm ‘conspired’ to hide $50bn debts of Wall St giant

A top British law firm helped stricken banking giant Lehman Brothers hide its debts in the run-up to the bank’s collapse, a report said yesterday. Read More Here

(IrishTime) – EU denies Greece bailout deal

The euro zone has not agreed a deal on financial support for heavily indebted Greece, but technical work is continuing and the Commission stands ready to act if need be, a spokesman said today. Read More Here

(InternationalForecaster) – The financial system in America is on the edge of default – Bob Chapman

The dramatic and costly undertow of deflation continues unabated, as government via fiscal policy and the Federal Reserve, by creating money and credit out of thin air, proceed to overpower this deflation with massive inflation. Read More Here

(BusinessInsider) – A Quick Reminder: Here’s The Real Problem

Here’s one of the only economic charts that really matters: Total U.S. debt to GDP (from John Mauldin).
This chart shows the trend from the end of the Civil War until now. Read More Here

(DoctorHousingBubble) – California Doing a Rendition of the Housing Industry on the Budget – $20 Billion Budget Deficit and Massive Amount of Distress Inventory

How Banks Raided the U.S. Treasury with the aid of the Federal Reserve and have Damaged Housing Further. Read More Here

(Bloomberg) – China May Face ‘Massive’ Bank Bailouts After Stimulus Program

China may be forced to bail out banks that made loans for local-government projects under the unprecedented stimulus program unleashed in 2008, according to Citigroup Inc. and Northwestern University’s Victor Shih. Read More Here

(AP) – Social Security to start cashing Uncle Sam’s IOUs

The retirement nest egg of an entire generation is stashed away in this small town along the Ohio River: $2.5 trillion in IOUs from the federal government, payable to the Social Security Administration.
It’s time to start cashing them in. Read More Here

(CNN) – Two bank failures raise year’s tally to 30

The closures of Statewide Bank in Louisiana and Florida’s Old Southern Bank brought the number of bank failures this year to 30, according to the Federal Deposit Insurance Corp. Read More Here

(MyBudget360) – Middle Class Americans Losing Financial Ground on Retirement – As Stock Market Rebounds more Middle Class Americans Have Less Money and Fewer Jobs. How is Health Care Spending Boosting GDP a Good Thing? – Read More Here

(SilverBearCafe) – Iceland, the Mouse that Roared

I thought I heard something the other night. It was a distant sound, a low rumbling, a roar from some far off beast that had finally pronounced its presence. It woke me for a second, but it was so distant I felt no threat and simply rolled over and went back to sleep. The next morning I learned that Iceland was taking a stand. It was refusing to pay its British and Dutch debts. Read More Here

(Infowars) – U.S. Debt Clock in Real Time

The U.S. Debt Clock website has a graphic of the U.S. debt that updates in real time. It will make your head swim. Click here to be amazed… or disgusted. Read More Here

Economy

(FinancialSense) – Recession, Depression, or Systematic Breakdown

As crooked politicians, Federal Reserve hacks, and cheerleading media pundits inform you the recession is over, you probably have a sneaking suspicion they are lying. Read More Here

(LewRockwell) – Gold Money: Power to the People

Before I explain the title of this report, I want to prove to you that Americans are losing their liberties, day by relentless day. I also want to prove to you why it is that, unless there is an economic breakdown so severe that Washington D.C. goes broke, we will not get back these surrendered liberties. My demonstration will take approximately three minutes. For skeptics, it may take five minutes. Read More Here

(SilverBearCafe) – Silver is the best investment in the world

One cannot pick tops and bottoms and short term forecasting is for fools. Nevertheless, one has to do their best to see overall bottoms and tops. We feel silver has bottomed at the $16 level and it’s time to back up the truck. Read More Here

(EconomicPolicyJournal) – Condition Red: More Hidden Greek Debt Exposure Discovered

According to a report out last week, there is huge off-balance-sheet debt guaranteed by Greece and the other PIIGS, Portugal, Italy, Ireland and Spain. In addition to similar debt guarantees issued by other governments. Read More Here

(AFP) – Icesave referendum casts cloud of uncertainty over Iceland

Iceland’s economic and political future hangs in the balance as it heads towards a referendum on how to compensate Britain and the Netherlands for money lost in the collapse of an Icelandic bank. Read More Here

(SeekingAlpha) – How Have U.S. Stocks Defied Gravity for So Long?

This Tuesday will mark the anniversary of last year’s US stock market low. Since then the market has rallied by 70 percent in a recovery only slightly less suspicious than a Madoff hedge fund. Read More Here

Video: St. Petersburg’s Self-destructing Economy Part 4

In this video I show multiple vacant prime location commercial properties located throughout the greater St. Petersburg area. – Video Link Here

Video: Walmart Wants You Dead – How Walmart Screws it’s Employees

Walmart takes out Life insurance policies on its own employees called “Dead Peasant Policies” but then refuses to pay one of it’s own employee’s health benefits when she needed it the most. – View Video Here

(NYPost) – Frank retreats on debt

Powerful lawmaker Barney Frank had to pull his foot out of his mouth yesterday.

The Massachusetts Congressman rattled investors when he said the US Treasury won’t be responsible for bailing out investors holding the more than $5 trillion of mortgage-linked securities issued by Fannie Mae and Freddie Mac — the ailing mortgage companies at the center of the junk mortgage crisis. Read More Here

(AuctionBytes) – IRS to Track Online Sellers’ Payment Transactions

Internet sellers who don’t report their sales will no longer be under the radar. Starting next year, any bank or other payment settlement company that processes credit cards, debit cards, and electronic payments such as PayPal will have to issue information returns telling the IRS what merchants receive. The new returns are Form 1099-K, Merchant Card and Third-Party Payments. Read More Here

(C4L) – The Dominos of Default

The bad news for Greece is that despite some help from abroad, and some attempts at internal reform, investors are still leery of the troubled state. The good news, if you can call it that, is that they will soon have company in the penalty box. Read More Here

(BusinessInsider) – Goldman Says Matt Taibbi, Zero Hedge, Louise Story, And Janet Tavakoli Have Become Risks To Its Business – Read More Here

Is The Recovery Real? – Paul Craig Roberts

Happy news! The government has come up with a 5.9 percent GDP growth rate in the fourth quarter of 2009. The recession is over.
Or is it? Statistician John Williams has informed us that 69 percent of this growth, or 4.1 percentage points, is the result of inventory accumulation. That leaves a 1.8 percent growth rate, and the 1.8 percent is likely due to the underestimate of inflation and other statistical problems. Continue reading

The Future of the Dollar

(FutureofDollar) – The World is concerned that the dollar cannot play the role of the main reserve currency any longer after the financial crisis sparked by the collapse of the U.S. mortgage market led to the worst global recession since the 1930s. The Government’s stimulus packages, financial bailouts, the need to support liquidity in Treasuries, keeping interest rates at the lowest level under the circumstances of low economic growth, high unemployment and low tax collection make it print more dollars. This leads to a high risk of substantial inflation, or hyperinflation in a long-run. Continue reading

Economy

(MarketWatch) – How to invest for a global-debt-bomb explosion

Wake up investors. Are you prepared for the economic anarchy coming after a global-debt time bomb explodes? Are you thinking outside the box? Investing differently? Act now — tomorrow will be too late. Read More Here

(Spiegel) – German Auto Sales Crash in January

Domestic car sales hit an all-time high in Germany in 2009 thanks to the government’s cash-for-clunkers program. Now that the program is over, however, sales have plummeted. Is the worst still to come? Read More Here

(CityWatchLA) – Drastic Steps Needed to Prevent Bankruptcy

As you know, the City of Los Angeles faces a budget shortfall of nearly $208 million, and we expect it to exceed $400 million next year. This is the most serious situation we have faced in 75 years and without drastic steps, the City is threatened with bankruptcy. We cannot allow that to happen. Read More Here

(ABC) – Australia close to defaulting on debts: Joyce

Opposition finance spokesman Barnaby Joyce is courting controversy again, warning that Australia is getting to the point where it will not be able to repay its overseas debt. Read More Here

FLASHBACK – (Telegraph) – Société Générale tells clients how to prepare for potential ‘global collapse’

Société Générale has advised clients to be ready for a possible “global economic collapse” over the next two years, mapping a strategy of defensive investments to avoid wealth destruction. Read More Here

(TheBulletin) – Without water

Hundreds of Central Oregonians who can’t pay their bills have their water shut off. For people like Lynette Nicks, who’s recovering from cancer, that’s especially dangerous. Read More Here

(Bloomberg) – No Job Growth for Small Business Spurs Recovery Doubt (Update1)

Small businesses are becoming the Achilles heel of the U.S. recovery by limiting growth and job creation. Read More Here

(Time) – The Great Recession: Will Construction Workers Survive?

The middle and working-classes have been hammered by the Great Recession and no industry has taken it more on the chin than construction. Read More Here

Another (sobering) slice of the jobs data

Here’s a pretty depressing picture, courtesy of the Bureau of Labor Statistics: Read More Here

(NYTimes) – This Crisis Won’t Stop Moving

YOU know we’re in trouble when we’re told that the economic problems in Greece, Portugal and Spain, the most indebted countries in the euro zone, are likely to remain safely contained in those nations. Read More Here

(ZeroHedge) – The Run On Greece Is Here: Investors Pull Out €10 Billion From The Troubled Country; Crisis Escalation Approaches

Remember the proverbial run on the bank? Well, that was the norm (or rather the outlier) before governments decided to backstop entire financial industries residing within their territory. As a result, the post-Lehman version of “the bank run” will henceforth be referred to as “the country run” and for an example of one in practice, look no further than Greece. The Guardian reports that investors have pulled a stunning €8-10 billion since the Greek crisis commenced in earnest last November. If true, this is the beginning of the end for the troubled EMU-member country. Read More Here

(Telegraph) – Global bear rally will deflate as Japan leads world in sovereign bond crisis

Milton Keynes will be vindicated. Lord Keynes will lose some of his new-found gloss. The Krugman doctrine that we should all spend our way back to health by pushing deficits to the brink of a debt spiral – or beyond the brink – will be seen as dangerous. Read More Here

(Risk) – Citi plans crisis derivatives

Credit specialists at Citi are considering launching the first derivatives intended to pay out in the event of a financial crisis. The firm has drawn up plans for a tradable liquidity index, known as the CLX, on which products could be structured that allow buyers to hedge a spike in funding costs. Read More Here

(Katu) – That’s a wrap? Future of Hollywood Video cast in doubt

Once one of the wealthiest companies in Oregon, Wilsonville-based Hollywood Video’s final scene may be written as many customers discovered Tuesday upon finding a dozen of its stores closed. Read More Here

Sovereign debt fears signal new stage of global crisis

(WSWS) – Stock markets in Europe and Asia fell sharply Friday in the second day of a near-panic selloff fueled by fears that the debt crisis facing weaker European economies will throw the world economy into a “double-dip” recession. Continue reading

Sovereign Debt Fears Signal New Stage of Global Crisis

Stock markets in Europe and Asia fell sharply Friday in the second day of a near-panic selloff fueled by fears that the debt crisis facing weaker European economies will throw the world economy into a “double-dip” recession. Continue reading

MSM: 8.4 Million Jobs Lost in Recession

(DowJones) – The U.S. unemployment rate unexpectedly declined in January, but the economy continued to shed jobs and revisions painted a bleaker picture for 2009, casting doubt over the labor market’s strength. Continue reading

MSM: Job losses from Great Recession about to get worse

(Yahoo) – Job losses during the Great Recession have been huge and they’re about to get bigger.
When the Labor Department releases the January unemployment report Friday, it will also update its estimate of jobs lost in the year that ended in March 2009. The number is expected to rise by roughly 800,000, raising the number of jobs shed during the recession to around 8 million. Continue reading

Study: Hunger in America jumps ‘unprecedented’ 46 percent

(RawStory) – If there is any indicator of the toll that the Great Recession has taken on the public, it would be the statistics beginning to emerge about hunger in the US. Continue reading

MSM: The Bank Showing ‘Restraint’…With A 48% Rise in Bonuses

(Express) – GREEDY bankers are still paying themselves huge bonuses in an arrogant disregard of the anger felt by millions of people who are battling to survive the recession. Continue reading

MSM: America slides deeper into depression as Wall Street revels

(LondonTel) – December was the worst month for US unemployment since the Great Recession began.
The labour force contracted by 661,000. This did not show up in the headline jobless rate because so many Americans dropped out of the system. The broad U6 category of unemployment rose to 17.3pc. That is the one that matters. Continue reading

Obamacare To Cost Middle Class Families $15,000 A Year

(PaulWatson) – Families struggling in the midst of a deep recession who earn a combined total greater than $88,200 and don’t have their health care covered by their employer will be hit with a mandatory annual fee of about $15,000 according to the Congressional Budget Office’s analysis of the final Senate Obamacare bill. Continue reading

MSM: Seven U.S. Banks Are Seized, Raising Year’s Failure Toll to 140

(Bloomberg) – Seven U.S. banks were seized by regulators, bringing this year’s total of failed lenders to 140 as financial companies are tested by the recession and the Federal Deposit Insurance Corp. anticipates more shutdowns. Continue reading

Review of Financial Markets: The Call from Obama is for more Leverage and more Debt

(BobChapman) – Congressional appropriators agreed Tuesday night to give civilian federal employees a 2 percent pay increase — which includes a locality pay increase President Obama didn’t want. Continue reading

MSM: U.S. Foreclosures to Reach 3.9 Million in Second Record Year

(Bloomberg) – Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default, RealtyTrac Inc. said. Continue reading

MSM: Food Stamps Go to a Record 37.2 Million, USDA Says

(Bloomberg) – A record 37.2 million people, or about one out of every eight Americans, received food stamps in September, as the recession drove a surging jobless rate, according to a government report. Continue reading

Spiralling Military Spending Creates Mass Unemployment – Washington’s Blog

I have written extensively on the fact that this is not a normal cyclical recession, and we’re not in the type of “jobless recovery” which we’ve had a couple of times in the last 50 years. Unemployment will continue rising in America for some time, which will make a real, sustainable recovery very difficult. Continue reading

MSM: Broader Measure of U.S. Unemployment Stands at 17.5%

(NYT) – Editor’s note: The unemployment rate during the Great Depression was %20.
For all the pain caused by the Great Recession, the job market still was not in as bad shape as it had been during the depths of the early 1980s recession — until now. Continue reading

Half of Our Kids on Food Stamps

A new study finds that nearly half of all American children will need to use the federal food stamp program to eat at some point in their childhood, with the number much higher for African American children, at a startling 90 percent. And the current recession with persistently high unemployment rates, will cause the numbers of children on food stamps to rise even higher, say researchers. Continue reading

MSM: Bank failures top 100 for year; most since 1992

(MSNBC) – WASHINGTON – The cascade of bank failures this year surpassed 100 on Friday, the most in nearly two decades. And the trouble in the banking system from bad loans and the recession goes even deeper than the number suggests. Continue reading

Video: The great banking scam – Michel Chossudovsky

Who do the banks owe money to? Are those hedge funds affiliated with the very banks that were bailed out? Prof. Chossudovsky explains. He emphasizes the bailouts will not help the crisis, but will exacerbate it. Continue reading

How a Crashing Dollar Hides Trends

Many Americans have a hard time wrapping their mind around a declining currency or the hidden tax that is inflation.  The U.S. Treasury and Federal Reserve understands this and for decades has exploited this issue to slowly siphon off the buying power of the U.S. dollar. Continue reading

Dow Target 6,617, October 25, 2009: Here Is Why

History may not repeat itself, but it does rhyme. I have been in the camp that this is a bear market rally. That is what I thought we would be getting in March. I’m also in the camp that because of the need to deleverage debt in most of the developed world, we will likely be heading into a global economic depression and perhaps at worse case, a collapse in the banking system. Continue reading

Video: Gerald Celente On Green Shoots

(CorbettReport) – “There is no recovery. It’s a cover-up. You only have to look at the facts.” October 20, 2009 Continue reading

MSM: Foreclosures Force Ex-Homeowners to Turn to Shelters

(NYTimes) – The first night after she surrendered her house to foreclosure, Sheri West endured the darkness in her Hyundai sedan. She parked in her old driveway, with her flower-print dresses and hats piled in boxes on the back seat, and three cherished houseplants on the floor. She used her backyard as a restroom. Continue reading

Twenty-Two Reasons Why this Recession is Different and Why it Will Endure

I find it surprising that I’m now getting inquiries from readers, asking if “we’ve reached bottom” in the current economic recession, and asking if the time has come to start buying stocks or residential real estate. It seems that the talking heads of mainstream media are using some sort of voodoo. How can anyone think that we’ve hit bottom, and an economic recovery is in progress? To dispel the myths from the CNBC Cheering Section, please consider the following. (And note that I’ve provided references for each assertion, just so you know that I’m not talking out of my camouflage hat.): Continue reading

The Robber Barons Are Back — Hide Your Money!

The Dow’s at 10,000, and the bankers are reaping huge bonuses, but the economy in which the rest of us live is a disaster. Continue reading

Video: WellPoint sued an ENTIRE STATE to increase profits

Netting $2.5 billion in profits last year wasn’t enough for WellPoint, the nation’s largest insurance company. Now, WellPoint’s affiliate, Anthem Blue Cross and Blue Shield, is suing the state of Maine for refusing to guarantee it a profit margin in the midst of a painful recession. Continue reading