Will The Bottom Fall Out? 15 Signs That Layoffs And Job Losses Are Skyrocketing.
Will The Bottom Fall Out? 15 Signs That Layoffs And Job Losses Are Skyrocketing
Reply
Category Archives: Housing
Recession Looms: GDP Revised Down to 1.3%, Durable Goods Collapse 13%
COLLAPSE OF THE DOLLAR, IMMINENT??
Alex Jones published a surprising paper on flexible quantitative (QE3). The information that was exposed is very interesting, and is also somehow telling the world prepare for the worst between the months October-November-December. The paradigm shift is accelerated and has no turning back. The collapse is inevitable. The world will have to replace the dollar. Check here the link:http://www.prisonplanet.com/%E2%80%9Cdollar-index-headed-for-rapid-collapse%E2%80%9D-over-next-3-to-4-weeks.html
My comment:
The Federal Reserve is a secret society illuminati. This system is privately owned and not owned by the government. The system was initiated by the Rockefellers, Rothschilds, with the sole purpose of gaining control of the world economy. The creators of the Federal Reserve are the founders of the Council on Foreign Relations (CFR), which are interconnected with Freemasonry, the Trilateral Commission, the Bilderbergs, the Club of Rome, the Committee of 300 (which controls the finances, insurance, politics , industry, and religion, and leader of this Committee is Queen Elizabeth), G-8, Knights of Malta, Vatican, World Economic Forum; Rosicrucianism, the Knights of the Garter, the Priory of Sion (they believe to be the bloodline of the Holy Grail bloodline of the antichrist) and others.
The Federal Reserve slashed interest rates and loans to lower levels of history. This type of monetary policy triggered the debt crisis, which erupted after an implosion in 2008. Starting from that point on the dollar has become inflationary. Then this money was injected into the U.S. banking system by devaluing the dollar even more, with the prints, fiat money. It is because of that that QE2 failed. And now in 2012, the Fed again, injected the third round of prints fiat money to banks to defend themselves against multiple crises to come. The Federal Reserve is not insane, she knows very well what he is doing. She wants to destroy the dollar and replace it with the AMERO. This is the political illuminati.
As you see, is all part of a plan!!
If there really is an economic recovery, so why the Fed is still keeping interest rates at almost zero after almost three years, and that keeps measures Quantitative Flexible ?
The logic is that this will spill over into a hyper-inflation!!
Alex Jones is right to say that there will be hyperinflation. The collapse of the dollar is inevitable. The probability is very low in saying that the dollar will again rise. This will hurt exports and mainly OPEC. The result will be a currency crisis. The whole world will opt for other reserve currencies, will opt for gold, will opt for various exchange mechanisms, ie, it will not stop, the dollar will fall like a stone.
So what is the solution? AMERO.
The illuminati plan is to present the AMERO, in the world between November-December as shown in some of the articles posted anterios. See the link here:https://www.facebook.com/groups/globalresearch/permalink/10150674124913652/
I think things are going very fast.
The plan is being followed to the letter, the illuminati plan is functioning !!
We have to wait and see how things will unfold. If these changes occur, the AMERO will be the currency that is circulated electronically on the world market. This means that the next step of the illuminati is World War III.
Are you prepared?
Published by 
Alexandre Silva
Depression, suicides rise as Euro debt crisis intensifies
Posted by The Extinction Protocol: 2012 and beyond
September 4, 2012 – EUROPE - A growing number of global and European health bodies are warning that the introduction and intensification of austerity measures has led to a sharp rise in mental health problems with suicide rates, alcohol abuse and requests for anti-depressants increasing as people struggle with the psychological cost of living through a European-wide recession. “No one should be surprised that factors such as unemployment, debt and relationship breakdowns can cause bouts of mental illness and may push people who are already vulnerable to take their own lives,” Richard Colwill, of the British mental health charity Sane, told CNBC. “There does appear to be a connection between unemployment rates and suicide for example,” he said, referring to a recent study in the British Medical Journal that stated that more than 1,000 people in the U.K. may have killed themselves because of the impacts of the recession. “This research reflects other work showing similar rises in suicides across Europe.” According to Josée Van Remoortel, advisor to the European organization Mental Health Europe (MHE), the financial crisis is affecting “all areas of life,” not just economies, and its impact on mental health is creating a “deep chasm in our society.” “The credit crunch [has] had one unexpected consequence and one that reflects a deep chasm in our society – a sharp rise in mental health problems, largely caused by uncertainty and fear for the future,” he writes in a paper entitled “The Sane Approach.” A recent survey of general practitioners (family doctors) in Britain by the Insight Research Group seems to support Van Remoortel’s view. The data showed that out of 300 family doctors surveyed, the majority reported that austerity was damaging their patients’ health. Seventy six percent said their patients were unhealthier due to the economic climate and 77 percent said more patients were seeking treatment for anxiety. The doctors surveyed relayed an increase in the incidence of alcohol abuse, anxiety, depression and requests for abortions due to economic reasons, anecdotal evidence borne out by statistics for anti-depressant requests in the U.K., which have risen 28 percent from 34 million prescriptions in 2007 to 43.4 million in 2011. Wolfgang Münchau told the Financial Times in July, the debt crisis in the Eurozone could likely last 20 years. -CNBC
77 Percent Of All Americans Live Paycheck To Paycheck At Least Part Of The Time
Published by
The Truth
If a major economic crisis hit us right now, the vast majority of Americans would be extremely vulnerable. According to a recent CareerBuilder survey, 40 percentof all Americans live paycheck to paycheck all of the time, and 77 percent of all Americans live paycheck to paycheck at least part of the time. This is why there was such a problem with foreclosures during the last recession. When millions of Americans suddenly lost their jobs many of them quickly found that they were unable to pay their mortgages because they had no financial cushions. For decades, Americans have been trained that it is okay to get into debt up to their eyeballs and live paycheck to paycheck because times will always be good and jobs will always be easy to get. Unfortunately, times have changed and many Americans do not realize that what has worked in the past is not going to work any longer. Our economy is completely and totally falling apart, and economic success is no longer defined by whoever is able to accumulate the most toys. In this economic environment you could lose your job at literally any moment. Anyone that does not have a sizable emergency fund is flirting with disaster.
So how did we get here?
Why are 77 percent of all Americans living paycheck to paycheck at least part of the time?
Not Enough Jobs
Well, the truth is that the U.S. economy simply does not produce enough jobs anymore.
Everyone that wants a job is not going to be able to have one.
Many were hoping that once the last recession ended that we would see a huge rebound in the employment numbers but that has not happened.
In fact, the percentage of working age Americans that have a job is actually lower now than it was at the end of the last recession….
There are lots of reasons why this is happening. One of them, of course, is thatmillions of jobs are being shipped out of the country. When you consider how fast our jobs are being outsourced, it is actually a miracle that things in this country are not even worse.
When you total up all working age Americans that do not have a job in America today, it comes to more than 100 million. Yes, many of them are parents that want to stay home with the kids or students that are enrolled in college, but still that is an absolutely staggering number.
And even the official unemployment numbers are starting to look quite gloomy again.
For example, the unemployment rate in New Jersey has risen to 9.8 percent, which is already higher than it was at any point during the last recession.
And if you do lose your job in this economic environment, it may be a long time before you are able to get another. Today, the average duration of unemployment in the United States is nearly three times as long as it was back in the year 2000.
The Quality Of Our Jobs Is Declining
Not only is our economy not producing enough jobs for all of us, the quality of the jobs that are being produced continues to steadily decline.
At this point, only 24.6 percent of all jobs in the United States are good jobs.
That is a shocking figure.
The number of low paying jobs continues to increase, fewer jobs are offering health insurance and other benefits, and very few private sector jobs offer retirement benefits at this point.
In America today, one out of every four workers makes ten dollars an hour or less.
But you can’t support a family on 10 dollars an hour.
You can’t even come close.
Sadly, these low paying jobs continue to become a larger part of our economy.
30 years ago, less than 30% of all jobs in the United States were low income jobs.
Today, more than 40% of all jobs in the United States are low income jobs.
That is the wrong direction.
And those just entering the workforce are being hurt the worst.
As I wrote about a while back, approximately 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed last year.
Ouch.
Declining Wealth
As the quality of the jobs goes down, so does the wealth of average American families.
Back in 2007, 19.2 percent of all American families had a net worth of zero or less than zero.
By 2010, that figure had risen to 32.5 percent.
And when you look at median net worth, it also tells a story of declining wealth for American families.
According to the Federal Reserve, the median net worth of American families dropped “from $126,400 in 2007 to $77,300 in 2010“.
Rising Poverty
Needless to say, the middle class in America is being shredded.
Millions are dropping out of the middle class every single year.
So what is happening to them?
Well, they are joining the ranks of the poor and are becoming dependent on the government.
If you can believe it, right now more than 100 million Americans are enrolled in at least one welfare program run by the federal government.
Yes, that is actually true.
Remember, more than 46 million Americans are enrolled in the food stamp program right now and more than 54 million Americans are enrolled in Medicaid.
And those are just 2 of the almost 80 different “means-tested welfare programs” that the federal government runs.
An Increasingly Angry Population
It turns out that most Americans don’t like to be poor.
In fact, most Americans are desperately wanting things to go back to the way they used to be in this country.
The American people are steaming mad right now, and a whole host of recent polls and surveys have shown this.
For example, at this point Congress only has a 10 percent approval rating. That matches an all-time low set earlier this year.
That is a crazy number.
And most Americans expect the economy to continue to decline. According to a recent Gallup survey, 61 percent of all Americans believe that the U.S. economy is getting even worse.
But what can the U.S. government do?
It is already spending more than a trillion dollars more than it brings in.
We are stealing billions of dollars from our children and our grandchildren every single day and yet that is still not enough to get our economy going again.
We are now basically 16 trillion dollars in debt, and our debt is now more than 37 times larger than it was when Nixon took us off the gold standard.
We desperately need to change course, but neither major political party has any intention of doing that.
So we are headed for disaster.
The following is what renowned investor Jim Rogers had to say during a recent interview….
As far as I’m concerned, the election is irrelevant. One [candidate] happens to be from Boston and one from Chicago, and whoever wins, their friends are going to do well, but other than that America is not going to do well. There’s very little difference in any of these guys. None of them understands the problem. These are the guys that got us into trouble. You expect them to get us out?
And he is right.
We are living in the greatest debt bubble in the history of the world and we are suffering from a complete and total lack of leadership at the top.
Recently, a team of top economists and analysts carefully studied the global economic system, and what this team of experts discovered is quite chilling….
And according to these experts – who have presented their findings to the United Nations, the UK Parliament and a long list of world governments – the catastrophe may happen well before Americans hit the polls in November.
“What this pattern represents is a dangerous countdown clock that’s quickly approaching zero,” said Keith Fitz-Gerald, the Chief Investment Strategist for the Money Map Press, who predicted the 2008 oil shock, the credit default swap crisis that helped bring about the recession, and the Greek and European fiscal catastrophe that is still wreaking havoc until this day.
“The resulting chaos is going to crush Americans.”
Other members of the team were extremely alarmed by what was discovered as well….
Another member of this team, Chris Martenson, a global economic trend forecaster, former VP of a Fortune 300, and an internationally recognized expert on the dangers of exponential growth in the economy, explained their findings further:
“We found an identical pattern in our debt, total credit market, and money supply that guarantees they’re going to fail,” Martenson said. “This pattern is nearly the same as in any pyramid scheme, one that escalates exponentially fast before it collapses. Governments around the globe are chiefly responsible.”
“And what’s really disturbing about these findings is that the pattern isn’t limited to our economy. We found the same catastrophic pattern in our energy, food, and water systems as well.”
Most Americans do not realize this, but we are heading for an economic disaster of unprecedented proportions.
It is going to be extremely painful and it is going to shake millions of Americans to the core.
Get ready while you still can, because time is running out.
Jacob Rothschild, John Paulson And George Soros Are All Betting That Financial Disaster Is Coming
|
Published by
The Economic Collapse
Let’s start with Jacob Rothschild. Apparently he believes that the euro is headed for quite a tumble. The following is from a recent CNBC article….
Okay, but the euro has already been falling dramatically. In mid-2011, the EUR/USD was above the 1.40 mark, and right now it is at about 1.23. Does it really have that much more that it can fall? If the eurozone ends up breaking apart it sure does. If there is a Greek default, or if Germany leaves the euro, or if a new currency comes along to replace the euro those currently betting against it will end up looking like geniuses. Another big name in the financial world that is betting against the euro right now is John Paulson. The following is from a recent Der Spiegel article….
And as I noted in my last article, Paulson has also been putting billions of dollars into gold. So just what are Rothschild and Paulson anticipating? Could we be on the verge of a massive financial collapse in Europe? According to the Der Spiegel article mentioned above, a lot of investors seem to be preparing for such a possibility right now….
The financial world is starting to wake up to the fact that the globe is absolutely drowning in debt and it is not really good to be holding fiat currencies when a debt crisis erupts. When men like John Paulson and George Soros start pouring huge amounts of money into gold, it is time to start becoming alarmed about the state of the global financial system. The amount of money that these men are investing in gold is staggering….
And the central banks of the world are certainly buying gold at an unprecedented rate as well. According to the World Gold Council, the central banks of the world added 157.5 metric tons of gold last quarter. That was the biggest move into gold by the central banks of the globe that we have seen in modern financial history. But that might just be the beginning. According to a recent Marketwatch article, there are persistent rumors that China has plans to buy thousands of metric tons of gold….
So what comes next? Nobody is quite sure. Another major financial crisis could erupt in Europe at any moment. A major war in the Middle East could start literally at any time. Renowned investor Jim Rogers believes that things are really going to get “bad after the next election“. Others believe that the action could start even sooner than that. The truth is that even though we have not seen a “Lehman Brothers moment” yet, things in Europe just continue to get progressively worse. The following is from a recent article by Mark E. Grant….
There is a growing realization in Europe that the euro simply does not work. Italy is absolutely drowning in debt, the Spanish economy has basically descended into a depression, and Greece has been experiencing depression-like conditions for years at this point. The euro is doomed. The only question is who is going to blink first. Nobody wants to be the first to leave the euro. There are rumblings that it could actually be Finland that leaves the euro first, and that would please Germany just fine because they don’t want to look like the bad guys in all of this. But that doesn’t mean that Germany won’t eventually pull the trigger if nobody else does. The German public is sick and tired of bailing out the weak sisters of southern Europe, and at this point it looks like it would take perpetual bailouts just to keep the euro together. And recently there have been lots of little signs that Germany is starting to move slowly toward the exit doors. In fact, I found it quite interesting that a giant euro sculpture wasrecently removed from the Frankfurt International Airport….
Sure that might just be a coincidence, but it also could be a harbinger of things to come. Sadly, most average people living in North America and Europe have absolutely no idea what is coming. Most of them just want to be able to get up in the morning and go to work and pay the bills and take care of their families. Unfortunately, millions upon millions of those hard working individuals are in for a very rude awakening. A lot of people are about to have their current lifestyles totally turned upside down. But it doesn’t have to be all bad. In fact, I found it very interesting to read about how some young people are responding to the depression in Greece….
I think there is a lesson to be learned there. When the system fails, it is going to be important to be able to live independently of the system. Governments and big banks all over the world have been rapidly preparing for the coming financial collapse. Perhaps the rest of us should be too. If you can believe it, 77 percent of all Americans live paycheck to paycheck at least some of the time. If another major economic crisis comes along, many of those people are going to be totally wiped out. And there are already signs that the U.S. economy is basically on life support at this point. Just look at the velocity of money. In an economy that is growing and healthy, money tends to circulate very, very quickly. But when an economy is sick, money tends to circulate very slowly. And that is exactly what is happening right now. In fact, the velocity of money is currently at the lowest level in modern U.S. history….
For much more discussion on this, please check out this article. This is exactly what happened back in the 1930s. The velocity of money absolutely plummeted. When people are scared, credit is tight and times are hard, money does not exchange hands as rapidly. But this is just the beginning. What we are experiencing right now is rip-roaring prosperity compared to what is coming. Jacob Rothschild, John Paulson and George Soros are preparing themselves for the tremendous chaos that is coming. Are you getting prepared?
|
|
This Week Is Going To Be Massive For The Global Economy
After a wildly volatile week in the markets last week, which saw huge gains on Thursday and Friday, the coming week promises to be a massive one for the entire global economy.
That’s because there’s going to be tons of economic data, and potential action from the world’s most important central banks.
Tomorrow, Monday, is actually pretty quiet, but starting Tuesday it will be non-stop action all the way through Friday.
In the US on Tuesday are several important numbers: Personal Income, Consumer Sentiment, Chicago PMI, and the Case-Shiller home price report. Case-Shiller should be particularly interesting, given the growing belief that home prices are in the process of bottoming.
Then on Tuesday night we get the start of the monthly ritual of PMI day: When all the big economies around the world have their latest PMI readings unveiled on the first of the month. China and South Korea will kick things off, but the numbers will go all night, through Europe, and then of course into the US, when the ISM will be released at 10:00 AM ET on Wednesday.
Also on Wednesday: The ADP jobs report, construction spending, and auto and truck sales.
And of course, the Fed makes its next policy announcement.
The next day, Thursday, we’ll get decisions from the BoE and the ECB (which is suddenly the center of the world, as more hints emanate out of Europe that the ECB may do something to suppress peripheral borrowing costs). In the US on Thursday we get initial claims and Factory Orders.
Finally on Friday comes the Big Kahuna of US economic data: The Jobs Report. Expectations are for a measly 100K new jobs, though that would actually be higher than the previous month’s 80K. Later that day comes the ISM services report.
So yes! Huge week of economic data and central bank action.
Read more: http://www.businessinsider.com/preview-of-the-week-beginning-july-30-2012-7#ixzz225aqGsNm
US economic growth slows down to all-year low
Published: RT
TAGS: Crisis, USA, Employment, Economy
Economic growth has stalled once more in the States, with statistics released on Friday from the Commerce Department coming up too shy to suggest that the country is close to recovery three years after the recession was officially put to rest.
The latest numbers out of Washington confirm that the country is experiencing economic growth at a grueling pace that is simply too sluggish to trigger a turn around by the year’s end: from April through June, the US economy grew at an annual rate of a mere 1.5 percent, down from the first quarter’s rate of 2 percent.
“The main take away from today’s report, the specifics aside, is that the U.S. economy is barely growing,” BTIG LLC strategist Dan Greenhaus tells the Associated Press. “Along with a reduction in the actual amount of money companies were able to make, it’s no wonder the unemployment rate cannot move lower.”
Economists for the AP add that growth at or below 2 percent isn’t enough to bring the unemployment rate down, revealing that the issue of economic recovery and stagnant job growth will continue to be a problem in the country, and especially for President Barack Obama. The commander-in-chief has been targeted with repeated attacks from his opponents who accuse him of doing nothing to turn the country’s jobs market around. With the president up for reelection in less than four months, he faces an uphill battle unless numbers can miraculously turn around in the interim. Experts aren’t optimistic, though: the AP also reports that economic growth at or below 2 percent won’t be enough to lower the unemployment rate by the time the Department of Labor publishes their next report.
With the economy growing at an annual rate of only 1.5 percent, Cal State Channel Islands economist Sung Won Sohn tells the Los Angeles Times that it translates to fewer than 100,000 new jobs being created at a monthly pace.
“That’s not enough to take care of new workers coming into the labor force, let alone rescue the unemployed,” Sohn tells the Times.
It could, however, be the catalyst that finally causes the Federal Reserve to implement a new policy. Economists have increasingly suggested in recent weeks that the Fed could launch another round of quantitative easing in an attempt to spur growth. If all else fails, that very well might be the next step.
“If the economic data next week continues [to be weak], then probably the market can keep their hopes up that [the] Fed would eventually resort to more stimulus,” Peter Cardillo of Rockwell Global Capital tells the BBC.
Last week Federal Reserve Chairman Ben Bernanke told Congress, “We are looking very carefully at the economy, trying to judge…whether or not the economy is likely to continue to make progress towards lower unemployment.” If a positive outlook appeared unlikely, warned Bernanke, the bank would “obviously…have to consider additional steps.”
The Fed is scheduled to meet next week and are likely to consider the latest Commerce Department figures when readying a plan.
19 Warnings About A Coming Global Financial Catastrophe
Global leaders have tried just about everything that they can think of, but the coming global financial catastrophe continues to march steadily toward us. We have seen “stimulus packages”, quantitative easing, bond buying, interest rate cuts, emergency economic summits, bailout packages for banks, bailout packages for entire nations, “Operation Twist“, unprecedented government intervention in business and massive amounts of new government debt and yet nothing seems to revive the global economy. In fact, it looks like we are rapidly heading into the second dip of a “double dip recession“. Unfortunately, many believe that this next dip will be more like a full-blown depression. All over the world, top economic experts are warning that we are facing an unprecedented crisis of debt and insolvency that will result in a global financial catastrophe. The eurozone is drowning in debt, the U.S. government is drowning in debt and major banks all over the globe are drowning in debt. Global authorities have been trying to patch the system together and keep it going, but the incredible damage that all of this debt has done is now becoming apparent to everyone. The global debt bubble that has fueled prosperity in the western world for the last several decades is getting ready to burst, and when that happens the chaos that will result will be absolutely horrifying.
The following are 19 warnings about a coming global financial catastrophe….
1. ”Dr. Doom” Nouriel Roubini says that the rapidly approaching financial crisis will be even worse than 2008….
“Worse because like 2008 you will have an economic and financial crisis but unlike 2008, you are running out of policy bullets. In 2008, you could cut rates; do QE1, QE2; you could do fiscal stimulus; you could backstop/ringfence/guarantee banks and everybody else. Today, more QEs are becoming less and less effective because the problems are of solvency not liquidity. Fiscal deficits are already so large and you cannot bail out the banks because 1) there is a political opposition to it; and 2) governments are near-insolvent – they cannot bailout themselves let alone their banks. The problem is that we are running out of policy rabbits to pull out of the hat!”
2. John Embry….
“This situation is unprecedented. The world has never, ever been in a condition like this. As a result, anyone that is complacent here and says, ‘This is just business as usual,’ they are dead wrong and will be shocked at the chaos that is heading our way.”
3. Jim Rogers….
“Just because now you have a way to get them (the banks) to borrow even more money, this is not solving the problem, this is making the problem worse”
4. Prominent Spanish politician Felipe Gonzalez….
“We’re in a situation of total emergency, the worst crisis we have ever lived through”
5. Leader of the UK Independence Party Nigel Farage….
You know, this deal makes things worse not better. A hundred billion [euro] is put up for the Spanish banking system, and 20 per cent of that money has to come from Italy. And under the deal the Italians have to lend to the Spanish banks at 3 per cent but to get that money they have to borrow on the markets at 7 per cent. It‘s genius isn’t it. It really is brilliant.
So what we are doing with this package is we are actually driving countries like Italy towards needing to be bailed out themselves.
In addition to that, we put a further 10 per cent on Spanish national debt and I tell you, any banking analyst will tell you, 100 billion does not solve the Spanish banking problem, it would need to be more like 400 billion.
And with Greece teetering on the edge of Euro withdrawal, the real elephant in the room is that once Greece leaves, the ECB, the European Central Bank is bust. It’s gone.
It has 444 billion euros worth of exposure to the bailed-out countries and to rectify that you’ll need to have a cash call from Ireland, Spain, Portugal, Greece and Italy. You couldn’t make it up could you!
6. Peter Praet, chief economist at the European Central Bank….
“The eurozone crisis is now much more profound and fundamental than at the time of Lehman”
7. Graham Summers….
Angela Merkel is up for re-election next year. There is no way on earth she’ll opt to let Germany get dragged down by the EU. She’s even said she will not allow Eurobonds for “as long as [she] lives.”
This is not empty rhetoric. This is fact. Germany has expressed its intentions dozens of times in the last month: NO Eurobonds and NO guarantee of EU banking deposits.
The reasons for this are simple: EITHER option renders Germany insolvent. It’s already teetering on insolvency to begin with. But to allow Eurobonds or some kind of guarantee of the EU banking system to occur on top of the money Germany has already spent propping up the EU will take Germany down.
The German economy is already slowing. Most Germans are fed up with the Euro. Merkel would rather die than let her country become like Greece (which the creation of Eurobonds or EU deposit guarantees would most assuredly result in).
So Germany is tapped out as well. This leaves… NOBODY.
Again, Europe is out of money. End of story. This is the truth and investing based on the idea of some magical bailout occurring is like investing on Hank Paulson’s Bazooka policy for Fannie and Freddie (three months later the markets imploded).
8. Peter Schiff….
“I think we’re still in a depression. I think it’s going to be with us for years and years. It could be five or ten years; it could be longer, depending on how long it takes us to recognize our mistakes so that we can begin to reverse them”
9. New York Times columnist Paul Krugman….
“There are a lot of ugly forces being unleashed in our societies on both sides of the Atlantic because our economic policy has been such a dismal failure, because we are refusing to listen to the lessons of history. We may look back at this thirty years from now and say, ‘That is when it all fell apart.’ And by all, I don’t just mean the economy.”
10. IMF Managing Director Christine Lagarde….
“In the last few months, the global outlook has been more worrying for Europe, the United States and large emerging markets”
11. Andrew Kenningham, senior global economist at Capital Economics….
“With euro break-up risk likely to rise in the second half of the year and monetary policy looking increasingly impotent, things could get much worse before they get better.”
12. Zero Hedge….
“We now have 80% of the world posting a contraction in industrial activity.“
13. Lakshman Achuthan, the co-founder of the Economic Cycle Research Institute….
“What we said back in December was that we thought the most likely start date for the recession would be in Q1, and if not then, by the middle of 2012. I’m here to reaffirm that.
In other words, I think we’re in recession already. As I said back there, it’s very rare that you know you’re going into recession when you’re going into recession. It often takes some big hit on the top of the head. In the last recession it took Lehman to wake people up. In the recession before it took 9/11.
When you look at the data today, you see industrial production is off of its April high. Manufacturing and trade sales – much broader than retail sales – is off of its December high.
Real personal income growth, which doesn’t always go negative during a recession, has been negative for several months.”
14. Priya Misra, head of U.S. rates strategy at Bank of America Merrill Lynch….
“The global economy is in the midst of a synchronized slowdown, as reinforced by the recent spate of weak economic data”
15. Chris Williamson, the chief economist at Markit….
“Companies are clearly preparing for worse to come, cutting back on both staff numbers and stocks of raw materials at the fastest rates for two-and-a-half years”
16. Howard Archer, chief European economist at IHS Global Insight….
“With the eurozone likely having suffered appreciable GDP contraction in the second quarter and in grave danger of contracting again in the third, and with eurozone business confidence generally low and fragile, the likelihood is that the eurozone unemployment rate will move significantly higher over the coming months”
17. Karl Denninger….
If we keep deficit spending we are simply debasing the purchasing power of the common man in a puerile attempt to pacify the people and avoid holding the financiers who were responsible for this debacle, including Bernanke, Greenspan, Paulson and Geithner along with both Obama and George W Bush to account. This attempt is mathematically doomed to fail as median family income has not moved which means that we’re shifting an ever-greater part of the population to social programs like food stamps and other handouts while the taxpaying productive population continues to shrink.
This is exactly how Greece and Spain went down the bowl and we’re right behind them unless we stop this crap right now.
We cannot “bend the curve” or look toward the “intermediate term”; that was exactly the siren song in Europe and it has led to catastrophe as “tomorrow” never comes! The “intermediate term” is usually defined as three to five years out — we heard of the “intermediate term” in 2008 but now it’s 2012 and none of the retractions in that spending have occurred — the claim that they would be undertaken was a lie.
We must stop the stupid right now!
Arithmetic is a bitch. It’s politically agnostic and cold-hearted. Exponential growth, as I have repeatedly pointed out, is utterly unsustainable over the long term. It doesn’t matter if you want these sorts of schemes to work or not; the longer you continue to pretend that there is some path forward that achieves these goals the worse the outcome is when you discover that you’re wrong.
18. LEAP/E2020….
“LEAP/E2020 has never seen the chronological convergence of such a series of explosive and so fundamental factors (economy, finances, geopolitical…) since 2006, the start of its work on the global systemic crisis. Logically, in our modest attempt to regularly publish a “crisis weather forecast”, we must therefore give our readers a “Red Alert” because the upcoming events which are readying themselves to shake the world system next September/ October belong to this category.”
19. Steve Quayle’s anonymous international banking source….
“The Bond market is finished, We all knew that there is a bubble in the bond market, This is the coup de grace that will not pop the bubble, but make it explode with the force of a thousand suns. America will be broke and barren in a blink of an eye! These are two events that I have been warning about are ones that will end your life on this planet as you know it. Your cash will be worthless, your country at a standstill, No money, No food, no essential services, AND WHEN IT ALL STOPS….. YOU STOP.”
So what do you think about these warnings?
Are you concerned that a global financial catastrophe is coming?
Please feel free to post a comment with your opinion below….
Deliberately Destroying America
Posted by truther
It has taken three and a half years into Barack Obama’s presidency for most Americans to realize that he has been deliberately destroying America by driving up the nation’s debt and deficit, reducing privately held wealth, forcing millions onto the public dole, undermining its moral structure, and weakening the nation’s reputation internationally..
His latest lie is that “the private sector is doing just fine”, but the numbers tell the whole story and one can find them on an excellent blog, Economic Collapse, that offers seventy examples:
- The official U.S. unemployment rate has been above eight percent (8%) for 40 months in a row. Unofficially, it is estimated to be closer to fifteen percent (15%).
- In 2007, about ten percent (10%) of all unemployed Americans had been out of work for 52 weeks or longer. Today that number is above thirty percent (30%).
- An astounding forty-nine percent (49%) of all Americans live in a home where at least one member is receiving government benefits.
- The middle class is shrinking. Ninety-five percent (95%) of the jobs lost during the current recession were middle class jobs.
- Instead of cutting spending to reduce debt, the Federal Reserve is “monetizing” much of the U.S. debt. It purchased “approximately sixty-one percent (61%) of all government debt issued by the U.S. Treasury in 2011.
- Perhaps the most frightening statistic cited was a survey that found that sixty-three percent (63%) of Americans “believe that the U.S. economic model is broken.”
It is not broken. The economic model that propelled America into a superpower would continue to provide prosperity if the nation’s “entitlement” programs were reformed, if the obscene government spending and production of regulations were reduced, if government housing finance entitles such as Fannie Mae and Freddie Mac were eliminated, if the federal government’s purchase of the nation’s land mass was ended, ifenvironmental laws without any basis in science were struck from the books, and if government control over the exploration and extracting of its vast energy reserves was greatly reduced.
It’s a tall order and it would require cleaning out a Congress that has imposed unsustainable burdens, including the highest corporate income tax in the world, and a level of taxation that requires those still holding jobs to annually work 107 days to earn enough money to pay local, state, and federal taxes.
If you check out the Progressive Caucus website, you will find nearly seventy members of the House are members and there is one from the Senate, the Socialist Bernie Sanders. In the 1950s they would have correctly been identified as Communists.
When Liberals and liberalism became unpopular, they began using the term Progressives. They are the descendents of every Democrat that voted for the New Deal, the War on Poverty, the creation of Fannie Mae and Freddie Mac, and the creation of the Departments of Energy, Education, and the EnvironmentalProtection Agency. These are the people who in the early years of the last century imposed the income tax and engineered the creation of the Federal Reserve, a banking cartel that controls the economy.
At this point most conservatives have heard of Saul Alinksy’s 1972 book, “Rules for Radicals”, a guide to bringing about the destruction of the nation’s capitalist economic system and replace it with the kind of government that Barack Obama has tried to impose with the help of the many Communists and liberals in Congress.
Lesser known is the roadmap spelled out in 1988 by Columbia University sociologists, Richard Andrew Cloward and his wife Frances Fox Piven, both members of the Democratic Socialists of America.
The “Cloward-Piven Strategy” advocated a “massive drive to recruit the poor onto the welfare rolls” in order to sabotage it and bring about “a political and financial crisis.” As it turned out, it was the collapse of the housing market that brought about the financial crisis they wanted, but following the Bush administration emergency bail-out of the banking system, the Obama administration with its Democrat-controlled Congress set about imposing historic debt through its $821 billion “stimulus.” Present debt exceeds the entire annual Gross Domestic Product.
It followed that with an unnecessary and wasteful bail-out of General Motors and Chrysler (instead of permitting a normal bankruptcy that would diminish the power of the unions that brought it about), and massive “investments” in failed solar and other alternative energy companies. The EPA was set free to try to impose regulations that would shut down a major portion of the nation’s producers of electricity.
Even though voters returned majority power to Republicans in the House of Representatives in 2010 the trail of destruction has continued and the bills they have passed to end our present financial troubles have been locked up in a Democrat-controlled Senate that has not passed a budget in the last three years.
We are now five months from an election to remove Obama from power and electing conservative lawmakers to office. It’s a start in restoring America to its former prosperity.
This article originally appeared on canadafreepress
