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Depression

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Lew Rockwell

A number of major events in the past few years reinforce the notion that the U.S. is on a path of failure, not success. "Major" means an event that involves near a trillion dollars or into the multi-trillions. A key variable in the success or failure of a nation and government like ours is the production of wealth. We the People produce this wealth. When our government selects strategies that impair the production of wealth and that destroy wealth, it causes failure. Let’s look at six major government strategies that are causing major failure. There are many more. In each case, there is a pattern of persistence. The government failures do not deter it from continuing the failed strategy. The government enlarges them. The end result of such behavior is the ruination of the country. The first of these strategies is the dysfunctional response of the U.S. to terrorism. The U.S. chose the most costl

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BlueLoriBlogSpot

I just have some articles and links I would like to share with you. I put them all together so you do not have to search the Internet for the information. You can make an informed decision as to whether or not to be in the Stock Market right now. . According to a recent article on Reuters, on Saturday Lou Jiwei, the chairman of the CIC, China’s sovereign wealth fund, said at a conference on Saturday in response to a question about his expected performance: “It will not be too bad this year. Both China and America are addressing bubbles by creating more bubbles and we’re just taking advantage of that. So we can’t lose.” Well YOU can lose! That admission that our governments are creating "Bubble's" should be a signal to END THE FED! You don't even have to be a cynic like me to understand that it is not a good idea to be buying at the same time your broker is selling.

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The Market Ticker

You have to wonder when you see statistics like this (through 9:30 this morning): Remove SPY, ETFC and LEHMQ (none of which trade on the NYSE) from the list and you get 606 million shares. How many shares have traded in total with one hour in? 1.491 billion. Forty percent of the volume is comprised of four used dogfood stocks, just as we've seen for the last couple of weeks - all people passing shares back and forth among each other, many of it being "computer HFT games." The other used dog-food stocks (LEHMQ and ETFC) are really no better; they just don't trade on the NYSE. Lehman is particularly ridiculous as that's a formally-bankrupt company! Fannie and Freddie are two of the most outrageous abuses I've seen in a long time, second only to AIG. All three of these should be delisted as their equity value is quite literally bupkis. This just goes to illustrate - the market is currently being levitated on literal trash. Again to

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WSJ

The FDIC's insurance fund, which guards $6.2 trillion in U.S. deposits, fell to $10.4 billion at the quarter's end, the lowest since mid-1993.. Data released Thursday painted a gloomy picture of the state of banking. The government fund that protects consumer deposits fell to its lowest level since 1993. The continuing woes, which come despite trillions of dollars in government rescue financing and a rebounding stock market, raised questions about how quickly the economy can revive. The Federal Deposit Insurance Corp. said it had 416 banks on its "problem list" at the end of June, equivalent to about 5% of the nation's banks, up from 305 at the end of March and 117 at the end of June 2008. Problem banks had a combined $299.8 billion of assets at the end of June, compared with $78.3 billion a year ago. Landing on the FDIC's problem list means a bank is at a high risk of insolvency. State and federal regulators have already shut 81 banks this year.

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BlueLoriBlogSpot

Yes things will be that bad soon for some it already is but there is no reason to go hungry. People fail to understand that with all forms of Totalitarian Governments be it Socialist, Fascist, Communist the leaders share the gains the people the pains. It is too bad this was not understood earlier and a real man of the people like Ron Paul voted in but we can't cry over spilled milk. Next time after you endure the Depression being created perhaps. Those with the Entitlement Mindset cannot figure out WHY the "Messiah" whom they believed to be one of their own could let them down, so LEARN something today and read this. Now back to cooking with Clara. In fact this Dandelion Salad looks great and I think I will make it myself this weekend just to try it. Clara who is 94 years old (so she should know a thing or two) says it is healthy for you anyway. Video

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Investment Watch

And a Video at site to boot! Structurally High Unemployment For A Decade. Manhattan Commercial Real Estate Office Sales Plunge 91%. Emails from a Bank Owner regarding FDIC and Under-Capitalized Banks Brace for a Wave of Foreclosures, the Dam is About to Break The FDIC is in Trouble Toxic Loans Topping 5% May Push 150 Banks to Point of No Return Personal Savings Rate Slips In June Amid Notable Drop In Income 13 Million Ame

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The Market Ticker

This article has been making the rounds over on the forum, and I thought I'd comment on it. The Centers for Disease Control has predicted a 2.1 percent to 3.3 percent death rate among those who come down with swine flu this fall, which translates into an additional 52,000 to 86,000 deaths in the city over a three-month period, Kasdan said. Has the CDC actually predicted a 2.1-3.3% death rate for those who come down with the swine flu? (This is known as the "CFR", or "clinical fatality rate", among those in the field.) I have been trying to source this statement - so far without success. But if it is accurate then there are two things you need to take away from this right here and now: First, we will have an economic depression. If the CAR, or "attack rate" (the percentage of people in the population) who get the flu is in the typical range of 40-60% of the population, then a CFR of 2-3% means one million or more dead Americans this fal

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BlueLoriBlogSpot

This is a must watch video from Elizabeth Warren the video verifies that the bail-out was a SCAM! I showed you the FDIC is already broke. Social Security is about to EXPLODE much sooner then the Government claims and Tax Revenue is way down the most since 1932 ! Do you like charts? Check these out. Who can you trust certainly not the BO administrations lies about unemployment the real rate is already 20%! Transparency not gonna happen and we have a serious deterioration in credit data as David Corn says this is an Economic TIME BOMB and it is being Mishandled by the BO Administration.

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Washington Blog

When Obama was elected, many compared him to a modern day FDR. See this Time Magazine cover, for example. On the other hand, financial writer Ed Harrison has called Obama a "black Herbert Hoover". Who is right? It is true that Hoover - like Obama - did not force any meaningful change or reform to the banking or financial system. See this, this and this. It is true that Hoover - like Obama -appointed as his top economic advisers banking insiders. It is true that Hoover - like Obama - is trying to paper over the crash with happy talk. But - unlike Hoover - Team Obama has printed tens of trillions of dollars and - instead of giving the money to consumers or the real economy - is throwing the money at the biggest banks. And - unlike Hoover - Team Obama is massively manipulating the markets in so many ways that it is impossible to keep track.

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BlueLoriBlogSpot

I will get right to the point here read this from Chris Martenson and then make sure to check your bank to see if it is on the problem list and make sure to have funds on hand! I told you about this in Will Monday bring a run on the banks now I am telling you perhaps YOU better make a run on your bank you can check it out below. Here are the most important parts you need to know! All together, that adds up to $3.67 billion dollars in new costs to the Deposit Insurance Fund. The problem is that this turns out to be $3 billion more than currently exists in the Deposit Insurance Fund:

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BlueLoriBlogSpot

I am sure by now you have all heard of the "Bank Holiday's" being planned by our foreign embassies. Now comes this very disturbing news (HT The Market Ticker)... One Of Three Down; Is The FDIC Still Solvent? Here we go! Colonial, Alabama’s second-largest bank, is being closed by regulators today, the person said, becoming the largest U.S. bank failure of 2009 after an expansion into Florida saddled the lender with more than $1.7 billion in soured real-estate loans. The FDIC usually waits until the close of business Friday; they must have had a slight problem with withdrawals...... Left unsaid is what's going to happen to the FDIC deposit insurance fund on this one - my guess is that it will be ugly, as these guys were up to their necks in Florida on development projects that went bad. The "value" of that paper may be very close to zero; if the FDIC avoids doing one of their 40% loss deals I will be quite surprised. A 40% loss on this one would, if my m

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The Business Insider

To briefly summarize: Our collective debt is still vastly higher than it was in the early 1930s and in Japan in the 1990s. Consumers account for 70% of economic growth, and they're broke The banks are still insolvent, but they're now allowed to lie about it Recovering from crises like this takes years Collapse In The Wake of the Fed's Wall Street Bubble?, by Bob Chapman

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CNBC

The global economy still faces turmoil as government try to figure out how to move out of fiscal rescue packages, which could lead to another two downturns, Deutsche Bank Chief Economist Norbert Walter said Thursday. In addition, nervousness on the part of major dollar holders could pressure the greenback and lead to a very worrying 2010, Walter said. Norbert said recently in research notes “the world is in trouble.” “I believe that the rescue packages brought on have been so costly for so many governments that the exit from this fiscal policy will be very painful, very painful indeed,” he said. “Some of us are already talking about a W-shaped recovery. I’d probably talk about a triple-U-shaped recovery because there are so many stumbling blocks here to get out of this.”

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The Business Insider

The Black Swan graced CNBC with His presence this morning. In sum: We're all in denial We're replacing private debt with public debt. We're not dealing with the cancer in our banking system. We're not making the structural changes we need to make. We're not being aggressive enough about restructuring debt (debt for equity swaps). Bernanke is a wimpy Greenspan sycophant Obama's rewarding the fools who got us here (Summers, Bernanke, Geithner) The banksters are taking over again He's pretty much right, by the way. Video at site

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No Third Solution

First it was the broken-window debacle known formally as CARS, or colloquially as “Cash For Clunkers”: by Government edict, thousands of functioning vehicles were destroyed with sodium silicate. Adding insult to injury, the vehicles (parts of which were ostensibly salvageable) will be scrapped. Thanks to CARS, the replacement driver-side door that you neede for your 1995 whatchamacallit is going to be a little bit harder to find. The market for used cars, and the market for replacement/salvage parts just got a little bit thinner, so prices go up a little bit more. And then there is agriculture, which has been silently (but openly) engaging in what can only be described as price-fixing. It’s been said elsewhere, but I’ll repeat it: if any other industry openly flaunted it’s price-fixing policies (Big Oil, anyone?) it would quickly draw the ire of politicians, bloggers, and Joe Six-Packs everywhere. Everyone would be in an uproar over “price gouging”. But I’ve heard nary a whisper abou

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Attorney For Freedom