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September 28 2011
The Daily Bell -- Depression Leaves Investors Feeling 'Like a Dog Without a Bone'
'Dominant Social Theme: Look. Depressions happen. But what would you do in 1932? You'd stick it out! By, say, 1960, you'd be back where you were! No problem ... -- Every day of your life you look anxiously in the newspapers to find out what "they" are saying about inflation, about Europe, about the budget crisis and whether taxes are going up. You have a job, but you're worried you're going to be made "redundant." Or maybe your company is going to go out business. Or your skills simply aren't going to be needed anymore. It's your fault, too. Plenty of people are "making it" in the modern world and if you're not it's because you haven't planned properly. You haven't taken the right degrees, focused on the right industry, created the image for yourself. Your fault anyway ... And so you worry. You live with worry. You worry all the time. There are so many outside factors weighing down on you. So much you can't control ... Recession, depression ... global warming, overpopulation ...'
Tags:
greatestdepression
September 24 2011
September 21 2011
Asia Times Online -- China squeeze drives boom in 'black' banks
'About 3 trillion yuan (US$470 billion) of bank loans have been channeled into underground lending in the eastern coastal provinces, China Banking Regulatory Commission chairman Liu Mingkang told a recent closed-door conference with lenders. Companies are not alone in engaging in such lending businesses; individuals are welcome to join. Liu Chumei, a housewife in Liantan town in Yunfu city, in southern Guangdong province, close to Hong Kong, said credit companies had promised her family a 7.5% interest rate per month on deposits of 10,000 yuan. "Seeing the inflation rate is higher than the [official] deposit rate, we actually loose money putting our cash in the bank ... I would put my money in such credit companies if I had any, so I called some of my relatives in Hong Kong to see if they were interested," she said. "They refused on security reasons."'September 19 2011
YouTube -- NMAWorldEdition: #OccupyWallSt: 'American Fall' or Adbusters prank?
'Protesters camped out, refusing to budge until their demands were met.' -- What have you bought into; what will it cost to buy you out?
'Protesters camped out, refusing to budge until their demands were met.' -- What have you bought into; what will it cost to buy you out?
Tags:
greatestdepression
September 18 2011
Paymaster Germany and the Endgame by Gary North
'Every time Merkel meets with Sarkozy in one of their "no, no, yes, yes" liaisons, European stock markets rise. There is some vague language about another round of bailouts. Investors rush in to buy, buy, buy. The fund managers are not rewarded to produce long-term capital gains. So, they cannot resist buying whenever Merkel and Sarkozy emerge from their tryst to tell the world that they are willing to let Germany bail out the Greek bond market one more time. This is great political theater. The funds' memos to major banks regarding the funds' refusal to roll over their short-term loans can go out at any time. No one wants to be the first fund to trigger a banking panic. But no one wants to be left holding the bag. This is why predictions regarding the day of reckoning are highly speculative. The major decisions will not be made by banks. They will be made by fund managers with large deposits at banks. The bankers are just sitting there, hoping for the best.'September 17 2011
YouTube -- Peter Schiff FULL Testimony Before Congress on Obama Jobs Bill 9/13/11
"The consequences are the exact opposite of the intent." -- That which is not seen.
"The consequences are the exact opposite of the intent." -- That which is not seen.
August 26 2011
The Daily Bell -- Media Blackout: US in Yet Another Illegal War ... in Yemen
'If Yemen is destabilized, Bahrain and eventually Saudi Arabia itself could become embroiled in domestic turmoil, which many observers believe could eventually end the fragile Saudi regime... A failed Saud regime would likely collapse the US dollar as the world's reserve currency. The results would make the financial turmoil from the current downgrade of US Treasuries look minor, indeed. The failure of the US dollar reserve could create a world depression of the sort that has not been seen since the Great Depression of the 1930s. The purposeful degradation of civilization itself is apparently the aim of the elites. The goal is world government. Out of chaos, order. With secret, illegal, unconstitutional wars like the one in Yemen, this goal is advanced. The gravity cannot be overstated. The mounting recklessness and lawlessness of these actions provide evidence that opposition to freedom and civil society – embedded in mainstream Western institutions themselves – grow ever more bold.'August 23 2011
ZeroHedge -- Guest Post: Getting Off The Globalist Chess Board: Safe Haven Relocation
'Rule #1: Go where the food is! Regardless of the state you live in, get out of the city and into a rural area. Next, a community’s proximity to urban environments must be considered. Many rural retreats are still vulnerable to being flooded by unprepared city dwellers in search of food at the onset of collapse. ... [live] at least one tank of gas distance from major metropolitan areas. Just as there are better places to live in each state, there are also better states to live in; what we call “Safe Havens.” Safe Havens are meant to consist of a large number of people, with a diverse membership, living in relative proximity. Safe Havens are NOT compounds, communes, or any other such nonsense that requires too many people in too small an area with too many rules. A Safe Haven will not be dictated or micromanaged through pyramid structures, military hierarchy, or “community tribunals”. It is a designated area of free cooperation, not a creepy village of collectivists...'The Onion -- Report: At This Point, Most Americans Feel More Comfortable In Dying Economy
'"Even if I did somehow make enough money to keep my head above water, I haven't the slightest clue what I'd do with it anymore," Bowman added. According to the survey, 63 percent of Americans said they had come to rely upon the familiar sense of dread that came from knowing the country was quickly losing its place as an economic superpower, while 71 percent described finding a kind of tranquility in the steady, predictable cuts to local, state, and federal funding.'August 09 2011
JoNova -- The money – you earn it, they print it. Welcome to the world of Corruption.
'The people are catching on. Thus we arrive at the strangest of moments when the world is figuring out that the forecasts of fire, flood and plague were faked, just as they realize the reassurances about the money were faked too. Disaster is coming, but not because of carbon. We’ve been worried about the wrong tipping point. Is it a coincidence? A random convergence of delusions? Not so. It takes one falsity to feed the other. We need a special kind of wealth to worry about bad weather 100 years from now. No one was watching the dollars hard enough... Corruption reigned across the high end of town. Politicians lied, scientists lost data, bankers mispriced risk and sold it to suckers but were bailed out, and public servants served government instead of the public. Science journals forgot what science was, professors broke laws of reason, and virtually everyone in the old media let them get away with it. Indeed the old-media was busy hacking phones for entertainment.'The Daily Bell -- Amid Near-Meltdown in Monday Stock Markets, Advisers Urge Investors to Stay the Course
'...the real problem is the unrestrained and continuously inflated currency unit itself and the central banking system that manages it .... The system allows Western politicians to make unrealistic promises to a mass of non-thinking "takers" who've been educated into believing they have a "right" to a free ride through life. It feeds Money Power's hunger for global government and enables its use of NATO and the US military-industrial complex to mold foreign countries into manageable pieces that can eventually be amalgamated. The Internet Reformation ... threatens to reshape the world as we know it by exposing the power elite's machinations for all to see. Mainstream media is under attack. Establishment politicians stumble through one embarrassing press conference to the next attempting to maintain the illusion that they are really working for the people. Instead, they are willing soldiers intent on increasing the debt-pressure and ignoring the rising barometer of understanding.'August 06 2011
CynicusEconomicus -- Round 2?
'If you increase the workforce by 10% but only increase the resource by 5% then something is going to happen to the distribution of resources. ...the real reason for this crisis is not capitalism, but the actions of communist and socialist governments before they started the process of opening their economies. They created barriers to the integration of their labour force into the productive and enriching capitalist world economy, and then suddenly started 'dropping' the labour into the world economy at a rate that the capitalist system could not absorb. It is why we see the increasing divide in incomes between the rich and the rest. It is not the evils of capitalism, but rather the last terrible contribution of years of rejection of capitalism in countries like China and India. They created a flood of new labour into the world economy, and the result is that labour has been devalued. ...the fundamental causes...[:] government constraints and interference with free market capitalism.'
YouTube -- RTAmerica: Coining Terrorism?
'In response to the US dollar's declining value some citizens and states are making moves to mint their own alternative currencies. At least one has been convicted on counterfeiting charges and labeled a domestic terrorist by the US attorney. More are still trying to get their currencies circulating. With the Fed talking about more quantitative easing and the country facing trillions of dollars in mounting debt - who is terrorizing the US economy and dollar?' -- Competition is a sin!
'In response to the US dollar's declining value some citizens and states are making moves to mint their own alternative currencies. At least one has been convicted on counterfeiting charges and labeled a domestic terrorist by the US attorney. More are still trying to get their currencies circulating. With the Fed talking about more quantitative easing and the country facing trillions of dollars in mounting debt - who is terrorizing the US economy and dollar?' -- Competition is a sin!
August 01 2011
July 26 2011
The Daily Bell -- GAO: Fed Issued $US16 Trillion During 2008 Crisis!
'Two things have happened: First, people have been made aware as never before of the essential unfairness (not a strong enough word) of the system; second, the massiveness of the bailout (handout) shows clearly that the system itself is finished. The last time something of this magnitude occurred was during the Great Depression and it took a World War to reconfigure and reassert elite control. Absent another world war (which is impossible because of nuclear devices) nothing is going to bring it back. The price distortions are so great, thanks to the directed money printing, that it cannot unwind. In fact, around the world, central banks are busily printing money for the very elite power nexuses (banks and financial institutions) that need to fail. Those in charge of the money printing will not let them fail. This means the unemployment and misery will continue to grow. The whole system is insane. It is beyond salvage.'July 16 2011
The Daily Bell -- The Morality of Gold
'The Fabian-socialist economist John Maynard Keynes famously said not one man in a million could comprehend the workings of the central bank – so large is the lie that the money system is based upon. But Keynes's statement was pre-Internet. The giveaway of the Fed's trillions and trillions has played out under the merciless spotlight of digital coverage. Thousands of bloggers and perhaps millions of articles have commented on these impossible figures. And gradually, around the world – and certainly in America – it has occurred to the jobless, homeless and hopeless that SOMETHING IS NOT RIGHT. The great, grasping mechanism of mercantilist central banking has been exposed for all to see. Societies that use some form of gold-as-money are apt to be fairer and healthier than fiat-money societies. The Chinese who have experienced eight ruinous bouts with fiat currency call it "flying money." Gold doesn't fly. In this sense, it has a morality as well as a utility.'The Daily Bell -- Have the Immoral Actions of Central Bankers Precipitated the Decline of the West?
'You CANNOT, as a society, witness a couple of guys pull a trillion out of their back pockets without feeling, well ... snookered. And after feeling snookered, something else begins to percolate. "Hey," you say, "wait a minute. I sit here with my debts and my job and my house in foreclosure and this guy – THIS GUY – throws around trillions? Wait a minute. WHEN DO I GET MINE!" And so it begins. You have seen the essential immorality of the system. You have felt it deep in the gut... Human beings, among other things, live within various ethical environments. When these are shown to be false, there is trouble brewing. We've written this over and over, that the old financial order, based on central banking, is basically finished. But THIS is WHY. The moral order that supported this sort of society is kaput. It's been found out. On the way is increased chaos, increased immorality and eventually A NEW MORAL ORDER.'The Market Oracle -- The Metastasis of Moral Hazard and its Effect on Gold
'The colossal miscalculation made by Washington and Wall Street is that they could control the moral hazard genie once they removed it from the bottle. They assumed that the people would be too stupid to see what was going on. And that even if the people did figure things out, they would willingly wear the thick, choking chains of debt being welded to their necks... Instead, thanks to the Internet and the democracy of information and insight it affords, the people were instantly wise to what was happening, and it stirred them. ...the moral hazard virus is now loose and swiftly propagating throughout society. The American psychological landscape has been parched by the searing winds of financial desperation, surging inequality and dying hopes. And the tinder of the desiccated American Dream, once the great calling and aspiration of a nation, is now piled so high that a spark igniting it would unleash raging flames reaching up to and scorching an astonished Sun.'Business Insider -- 14 Cities That Are Being Eaten Alive By Public Sector Workers
"You know what the trouble is, Brucey? We used to make shit in this country, build shit. Now we just put our hand in the next guy's pocket." -- Frank Sobotka, The WireJuly 13 2011
The Daily Bell -- Great Depression Comes Knocking
'The world's economy is a kind of planned madhouse. Those in power have inflicted upon it scores of central banks – all busily printing/creating money from nothing at the push of a button. Those who run these central banks are well aware of their ruinous disposition. They understand fully the boom bust cycle that brings bankruptcy and hopelessness to so many. But one does not ever acknowledge this. If one works within the system, one is not supposed to. In the upside-down world of modern finance, central bankers who print money are "hawkish inflation fighters." Politicians who endlessly create the distortive price fixes, called "laws," are "public servants." Corporate leaders who generate profits by linking their companies to the great, grinding machinery of Western legislation are "entrepreneurs." ...the Anglosphere elites also work via OMMISSION. That is, in addition to advocating fear, they actively encourage ignorance. The mendacity is breathtaking.'
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