Hope2012


US Economic News Round-Up: Increasing discussion of economic collapse, statistics

25 Signs That Almost Everyone Is Expecting An Economic Collapse In 2010

Most people paying attention to the news know things are very bad and getting worse, but this article references the major institutions that are preparing for total economic collapse.

20 More Signs Of A Full-On Economic Collapse

“It’s Over” For US Economy: Buffett Partner

Bernanke delivers blunt warning on U.S. debt

With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt.

National debt seen heading for crisis level

With ferocious speed, the financial crisis, recession and efforts to combat the recession have swung the U.S. debt from worrisome to ruinous, promising to handcuff the administration.

Lost amid last month’s passage of the new health care law, the Congressional Budget Office issued a report showing that within this decade, President Obama’s own budget sends the U.S. government to a potential tipping point where the debt reaches 90 percent of gross domestic product.

No one is advocating big tax increases or spending cuts before a recovery takes hold. The problem is that deficits will not reverse even after a full recovery.

U.S. posts 19th straight monthly budget deficit

The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month

Chapman Predicts ‘Major Financial and Social Mayhem’ Before November Elections

Historian warns of sudden collapse of American ‘empire’

Harvard professor and prolific author Niall Ferguson opened the 2010 Aspen Ideas Festival Monday with a stark warning about the increasing prospect of the American “empire” suddenly collapsing due to the country’s rising debt level.

“I think this is a problem that is going to go live really soon,” Ferguson said. “In that sense, I mean within the next two years. Because the whole thing, fiscally and other ways, is very near the edge of chaos. And we’ve seen already in Greece what happens when the bond market loses faith in your fiscal policy.”

Collapse in Living Standards in America: More Poverty By Any Measure

15 million unemployed, homelessness has increased by 50 percent in some cities

Dollar Devaluation and Destruction of America Pick Up Steam

Central Banks Start to Abandon U.S. Dollar

California on ‘verge of system failure’

Case files piling up by the thousands, phones ringing off the hook, forced midweek courthouse closings and occasional brawls as frustrated citizens queue for hours to pay parking fines.

Bankruptcy talk spreads among Calif. muni officials

Los Angeles on the Brink of Bankruptcy

The latest tale of financial crisis in California is playing out in Los Angeles. The city faces a budget shortfall approaching a billion dollars, and unless it can find a remedy soon, it may be insolvent by midsummer.

Freddie Mac asks for additional $10,000,000,000 bailout

States of Crisis for 46 Governments Facing Greek-Style Deficits

Debt Dynamite Dominoes: The Coming Financial Catastrophe

Doomsday is here for the state of Illinois

To become solvent, the state must enact the largest tax-increase package in Illinois history, whack another $2 billion from already starved government programs and wrest major financial concessions from the state’s unionized work force, a nonpartisan government watchdog contends.

Tent Slums Spring Up in America

Roads to Ruin: Towns Rip Up the Pavement

The 18 States Facing The Most Brutal Austerity Cuts

America’s new debtor prison: Jail time being given to those who owe

What Do the Hungry Eat?

STATISTICS

Debt Saturation: Each Dollar of New Debt Now Subtracts 45 Cents from GDP

Click through for plenty of chart doom

15 Years Ago, the Combined Assets of the 6 Biggest Banks Totaled 17% of GDP… By 2006, 55% … Now, 63%

Six Banks Control 60% of Gross National Product

Actually, The Unemployment Ratio Is 41%

The broadest measure of unemployment is the Civilian Employment-Population Ratio, which is exactly what it sounds like: the ratio of employed civilians to the total population. It stands right around 59%, which is the lowest its been since the early 80s.

The Real Unemployment Rate: 21.5%

Nearly 20 percent of U.S. workers underemployed

World’s Billionaires Grew 50 Percent Richer in 2009

US Super-rich Get Five Times More Income Than In 1995

Percentage of GDP to External Debt: Default is Inevitable

Consumer Bankruptcies Up 14 Percent In First Half Of 2010

Commercial Mortgage Default Rate in U.S. More Than Doubles

Millions of Unemployed Face Years Without Jobs

More than half of Detroit’s homeless at risk of dying on streets

Food-stamp tally nears 40 million, sets record

U.S. Government Now 96.5% of the Mortgage Market Q1, 2010

More Than 1 In 5 American Children Are Now Living Below The Poverty Line

1 in 4 American children are on food stamps.

Half a Dozen States Are Delaying Tax Refund Checks

Quarter Of American Bridges Declared Structurally Deficient or Functionally Obsolete

PREVIOUS POSTS ON THE ECONOMY



Central Banks, Currency Wars & Global Governance – Bankrupting Countries for Fun & Profit

Head of IMF Proposes New Reserve Currency

Nobel Prize-Winning Economist: Federal Reserve System is Corrupt and Undermines Democracy

Joseph Stiglitz – former head economist at the International Monetary Fund (IMF) and a nobel-prize winner – said yesterday that the very structure of the Federal Reserve system is so fraught with conflicts that it is “corrupt” and undermines democracy.

Most decorated US Marine General: Purpose of all US wars is billions for insiders’ profits

Smedley Butler was the most honored man in Marine Corps history. He wrote and spoke that the purpose of US wars is millions and billions in profits for America’s leading “bankers, industrialists, and speculators.” War is a “racket:” a deception whereby its purpose of blood money from American taxpayers to “insiders” is always disguised as noble and necessary ventures to keep Americans propagandized into paying again and again.

Sovereign Debt and the Economic Crisis: When Countries are Bankrupt…

IMF “Economic Medicine” Comes to America

Video: How The Fed Is Destroying The Dollar

Video: How the Federal Reserve Created the US Recession

The Science and History of Money

This video production explains in simple and straight forward language (with supporting animated visuals) the true nature of money and the dysfunctional and undemocratic nature of the global banking system, describing the history of money, the process of money creation and the dire consequences of compound interest.

Central Banking in Crisis: Some Twenty Countries on the Verge of Insolvency

What is important more than anything else are jobs and those who create them cannot easily borrow money. At the same time free trade, globalization, offshoring and outsourcing kill our jobs and fill the coffers of transnational conglomerates that keep their profits tax-free offshore. You cannot do that. While this transpires your Congress stuffs their pockets with cash from elitists who own them.

The troubles we see in Europe are but a reflection of what is going on worldwide. This leads us to the conclusion that Americans and others are being systematically betrayed by their legislators. – A problem that can be remedied in November by removing almost all of them.

Leading Chinese Economists Urge Government To Dump U.S. Treasuries, Buy Gold

Chinese rating agency strips Western nations of AAA status

China’s leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings, accusing Anglo-Saxon competitors of ideological bias in favour of the West.

Calm before the Storm? The Dollar versus the Yuan: America and China Engage in a “Currency War”

US money supply plunges at 1930s pace as Obama eyes fresh stimulus

The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.

China’s Currency Manipulation: About to Cause a Global Explosion?

IMF’s Global Taxes Can Only Be Enforced Through Global Government

The Economic Crisis in the UK: Inflation and Debt Default Bankruptcy

IRS Says It Needs More ‘Resources’ to Implement Tax Provisions of New Law

The Tax Attack on America

After-tax incentives could drop 15 percent or more over the next few years, lifting the top tax rates on ordinary income to 45 percent from 35 percent, and to 25 percent from 15 percent on capital gains. Why in the world would we want to tax those who are most likely to invest, save, and take risks in an economy that desperately needs all three?

15 Mind-Blowing Facts About Wealth And Inequality In America

The Bailout of Big American Banks Has Cost Trillions More Than We’ve Been Told

Citizens Of Illinois Get Slapped With Staggering 33% Income Tax Hike To Fill Deficit

Cities Find New Ways To Reach Into Your Wallet

U.S. Taxpayers on Hook for $5 Trillion of Fannie, Freddie Debt …

Virginia Hands Out 6996 Traffic Tickets In One Weekend In An Effort To Raise Revenue For The State Government

Last Saturday and Sunday state troopers were ordered to absolutely saturate Interstate 95 and Interstate 81 and to issue as many traffic tickets as humanly possible during those two days. Why? Well, it turns out that the state of Virginia has a 2.2 billion dollar budget deficit that they are trying to deal with, and so they need to find some quick sources of cash.

States Bristle as Investors Make Wagers on Defaults

As U.S. cities and towns wrestle with financial problems, investors are finding a new way to profit on their misery: by buying derivatives that essentially bet municipalities will default.

Goldman bet $35m against California

The IMF Destroys Iceland and Latvia

Britian: Fake Storefronts Soothe Consumers During Recession

Soros warns Europe of disintegration



The US Economic System: How and Why It Got This Bad and Where It’s Going

Exposing Our Enemy: Meet the Economic Elite

This is who ‘they’ are.

The Economic Elite vs. the People of the United States of America: Part I

Senator Majority Leader Harry Reid: Taxes are Voluntary in America

2010 Food Crisis for Dummies

Not just for dummies; this is a must-read 

Economic Black Hole: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover

“Modern Money Mechanics” by Federal Reserve…Explained

This video series (7 parts) goes page-by-page of “Modern Money Mechanics,” a pamphlet by the Federal Reserve of Chicago, no longer in print but available on the internet, which describes “the basic process of money creation in a ‘fractional reserve’ banking system.

Economic Crisis: The Sovereign Debt Bubble

Global Insolvency: How will the US Service its Debt?

Such unbridled greed came close to bringing down the entire financial system, which American taxpayers have been allowed to pick up the bill for. After all this we see absolutely no regulation in sight and the SEC and the CFTC continue to protect the titans of Wall Street as government looks on in total disinterest. This, of course, omits the Executive Order borne criminality, which has turned our free markets into controlled and manipulated fascist markets. People say what can I do? You can start by throwing almost every incumbent out of office and buy pressing the Senate relentlessly to pass the bill that includes an audit and investigation of the Fed.

Is a U.S. Default Inevitable?

Backing up Blankfein’s plea of ignorance and incomprehension is this: The crisis killed Lehman Brothers and would have killed every one of them had not the Treasury and Fed, neither of which saw it coming, either, intervened with hundreds of billions in bailout cash.  Yet there were those who warned a housing bubble was being created like the dot-com bubble; others who predicted the Empire of Debt was coming down. As, today, there are those warning that the United States, with consecutive deficits running 10 percent of gross domestic product, is risking an eventual default on its national debt.

Federal Reserve Made Record Profit in 2009: Report

Federal Reserve Seeks to Protect U.S. Bailout Secrets

Former Mexican foreign minister calls for ‘North American union’, unified currency

Nobel economist Stiglitz: “US privatized profits, socialized losses is not capitalism.” It’s fascism

Joseph Stiglitz understands half the US economic disaster when he explains current policy is “no way to run an economy that’s going to work,” “there’s moral hazard everywhere,” and newly-invented and unregulated financial markets have only increased risk, not decreased it.

Spying for Dollars: Military Contractors and Security Firms Reap Huge Profits

Actual Bloomberg Headline: “Secret Banking Cabal Emerges From AIG Shadows”

Willem Buiter warns of massive dollar collapse

Americans must prepare themselves for a massive collapse in the dollar as investors around the world dump their US assets, a former Bank of England policymaker has warned.

All Hell Could Break Loose Because of the Huge Government Debt

The United States faces projected 10-year federal budget deficits that seriously threaten its bond market, exchange rate, economy, and the economic future of every American worker and family. Those risks are exacerbated by the context of those deficits: a low household-savings rate, even after recent increases; large funding requirements for federal debt maturities every year; heavy overweighting of dollar-denominated assets in foreign portfolios; worsened fiscal prospects in the decades after the current 10-year budget period; and competing claims for capital to fund deficits in other countries.

How Goldman Sachs Helped Greece to Mask its True Debt

How Goldman Sachs Made Tens Of Billions Of Dollars From The Economic Collapse Of America In Four Easy Steps

Step 1: Sell mortgage-related securities that are absolute junk to trusting clients at vastly overinflated prices.

Step 2: Bet against those same mortgage-related securities and make massive bets against the U.S. housing market so that your firm will make massive profits when the U.S. economy collapses.

Step 3: Have ex-Goldman executives in key positions of power in the U.S. government so that bailout money can be funneled to entities such as AIG that Goldman has made these bets with so that they can get paid after they win their bets.

Step 4: Collect the profits – Goldman Sachs is having their “most successful year” and will end up reporting approximately $50 billion in revenue for 2009.

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