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Friday, 14 May 2010 00:00

Double Dip Recession Is Pure B.S.

If the recent slew of bad economic news coming out of the U.S. hasn't convinced you that the economy stinks, then it's time to wake up and smell the coffee. Because ...

All the recent talk about a double-dip recession is nothing more than pure B.S.

Why? Because the U.S. economy ...

A. Never emerged from a recession. Period.

Quite to the contrary, in reality ...

B. The economy is already in a depression.

The problem is that no one wants to admit it. Certainly not in Washington. Not on Wall Street either. And, unfortunately, not even on Main Street.

But the fact of the matter is that in real terms, the U.S. economy has already contracted more than it did during the Great Depression.

I'll prove it to you in a minute. But before I do, here are a few simple facts that also show you that the economy is either rivaling the depths of the 1930s, or is already in worse shape ...

First, the true unemployment rate in this country is at least 22%. Not the 9.5% mythical figure Washington is reporting.

You see, Washington plays with the unemployment number. The figure they report every month is what they call the "official" unemployment rate. But it includes only those ages 16 or older who are not currently employed, but are able and available to work, and "actively seeking work."

The problem: Washington conveniently leaves out people who are working part-time, people whose hours have been dramatically cut, and "discouraged" workers — those who are ready, willing and able to work — but have essentially given up looking for a job because they can't find one.

Add these workers into the mix and you have an unemployment rate of 22.7% — more than double the so-called official number and almost as bad asthe Great Depression of the 1930s.

And that's just a nationwide average. In places like Detroit, Los Angeles, Allentown, Pa. and other urban areas, the real unemployment rate is as high as 40%, far worse than duringthe Great Depression.

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IRS And Fed Scam
8 Minute Youtube Video

Financial Armegeddon Within 6 Months?

A little more than two years ago, economist John Williams of shadowstats.com predicted a “severe recession” was coming and soon. At the time, I was working as an investigative correspondent for CNN. I interviewed Williams for a story about the coming financial crisis. Most so-called experts, at the time, did not see the financial meltdown coming, let alone that all the banks were in trouble. Williams’ assessment of the economy was spot on in 2008. I don’t see how you can characterize what we have now as anything but a “severe recession.” Accurate information is the first and foremost reason to use someone as a source when you are a journalist. In my experience, what I have gotten from Williams has been stellar. (Click here for the 2008 CNN story featuring Williams and his predictions for the President in 2012.) (Click here for shadowstats.com)

Williams also predicted 2 years ago we would have a “hyperinflationary depression” within 10 years. Then, about a year ago, he revised his prediction and narrowed the window to “five years.” The day before last Friday’s dismal jobs report, Williams said, “. . . the timing of the looming U.S. financial Armageddon is coming into better focus, with increasingly high risk of it breaking within the next six months to a year.”

“Financial Armageddon . . . within the next six months to a year.” I called Williams to see why the odds of calamity have accelerated. He told me on the phone last night, “What is happening now to bring the timing into focus is the economy IS turning down. It is no longer the perspective the economy is going to turn down. That, in turn, will eventually trigger all the problems with the dollar, the debt and the deficit.”

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Monday, August 9, 2010

Collapsing States Opening Casino's To Steal Your Money

ATLANTIC CITY, N.J. -- Cash-starved states are increasingly being drawn to the lure of easy money in casinos - a bet that could ultimately hurt taxpayers if the supply of slot machines, poker tables and racetracks outpaces customers' demand.

The race to open new casinos is most frenzied in the Northeast, which has 41 casinos and 20 more planned.

Atlantic City, N.J., which for decades held a gambling monopoly outside Nevada, was already reeling from a beatdown inflicted by neighboring competitors. Now New York, which has casinos run by Indian tribes, just approvedslot machines for its Aqueduct racetrack. Pennsylvania has added table games like poker and blackjack to its nine slot-machine casinos - and fivenew casinos are planned.

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America's Most Beautiful Park To Be Sold Off?

Some might call it blackmail. The governor of Wyoming calls it desperation.

Governor Dave Freudenthal is threatening to sell off a chunk of one of America's most beautiful national parks unless the Obama administration comes up with more money to pay for education in the financially beleaguered state.

He says he will auction land valued at $125m (£80m) in the Grand Teton national park, one of the country's most stunning wildernesses. Part of the park was donated by John Rockefeller Jr.

Other parts belong to the state government including two parcels of land of about 550 hectares (1,360 acres) designated as school trust lands to be "managed for maximum profit" to generate funds foreducation in Wyoming.

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It's The Mother Of All Bubbles

In the latest issue of The Casey Report Bud Conrad does a fantastic job analyzing the truth about Asia. Japan is a ticking demographic time bomb. The Chinese government has created the mother of all bubbles and when it pops, it will be felt around the world. The China miracle is not really a miracle. It is a debt financed bubble. Sound familiar?

I picked out 4 charts from Bud’s article that paint the picture as clearly as possible. The chart below shows that compared to the real estate bubble in Japan during the late 1980s and the current bubble in China, the US housing bubble looks like a tiny speed bump. The US has 20% to 30% more downside to go. For those looking for a housing recovery, I’d like to point out that Japan’s housing market has fallen for 20 years with no recovery. I wonder if the National Association of Realtors will be running an advertisement campaign in 2025 telling us it is the best time to buy.

Take a gander at home prices in China. Since the 2008 financial crisis, the Chinese housing market has skyrocketed 60%. There are now 65 million vacant housing units. The question is no longer whether there is a Chinese housing bubble, but when will it pop. There is one thing that bubbles ALWAYS do. An that is POP!!!

The price of land in and around Beijing has gone up by a factor of 9 in the last few years. Delusion isn’t just for Americans anymore. These two charts should be placed next to the word “bubble” in the dictionary. This will surely end in tears for anyone who has bought a house in China in the last two years.

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Warning:
Significant Chance of Recession Next 2 Years: SF
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Stampede Evacuation Occurring In Moscow?

A hasty evacuation of diplomatic staff from foreign embassies, like a stampede, began in Moscow. Many embassies are trying to hide the evacuation for political reasons. Mass evacuation of the embassies of Canada and Poland was officially reported at night on August 7.

Western media meanwhile reported that the Canadian embassy in Moscow was closed. Dutch embassy is urgently evacuating its diplomatic staff from Russia.

High level of air pollution (see photo), as one of the consequences of forest fires, has become an official ground for evacuating embassy staff and their family members.

Unofficially, they speak about plague in Russia, but first of all, about sharply elevated radioactive background in the city, caused by destruction of atomic bombs in fires at nuclear weapons arsenals outside Moscow. According to unofficial information, warehouses of chemical and bacteriological weapons were also burnt down.

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Nothing Will Save Us: Collapse Is Coming

Nothing can save our financial system in the long run. It is doomed to collapse. This is inevitable, because our government controls and manages its very foundation -- the dollar.

The federal government began its takeover of the dollar in 1913 when it established the Federal Reserve Banking System. Prior to that, the dollar was a real store of value. In the period from 1783 to 1913, there was a long period of currency stability with virtually no inflation. If you saved one dollar in 1800, your great-grandchild could buy roughly the same amount of goods with the same dollar one century later.

In 1913, five dollars could get you the following:

15 pounds of potatoes, 10 pounds of flour, 5 pounds of sugar, 5 pounds of chuck roast, 3 pounds of round steak, 3 pounds of rice, 2 pounds each of cheese and bacon, and a pound each of butter and coffee ... two loaves of bread, 4 quarts of milk and a dozen eggs.

In 2010, five dollars barely gets you two pounds of cut chicken meat.

Since the establishment of the Federal Reserve in 1913, the dollar has shed more than 90 percent of its value. The loss of value has been especially pronounced since 1971, when Richard Nixon took the dollar off the last vestiges of the gold standard. In that year, the dollar became a pure fiat currency, grounded in nothing but the whims of politicians and technocrats. The consequences have been disastrous. One thousand 1971 dollars would buy only $185 worth of goods today. This represents a loss of some 80 percent in purchasing power.

The dollar has already entered its terminal phase. The word "doom" is written across it for anyone with the eyes to see. Sad to say, there is no way to reverse its downward slide.

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US, UK and European Financial Systems Are On The Way to Collapse

Were it not for the Federal Reserves purchase of Treasury and Agency bonds the US would already be unable to raise funds to service debt and issue new debt, and it would already have descended into national bankruptcy. It is no wonder the Fed does not want to be audited. Through various artifices the Fed has been purchasing US treasury paper. No one knows how much, because when asked the Fed says it is a state secret. That is what all Americans love. A country run in secrecy. A privately owned corporation operating under the cover of secrecy, and protected by a Treasury Department, that is under the control of the Fed’s owners. How is that for an incestuous relationship?

Government is desperately searching for more revenue to cover its massive deficit spending and to service existing mandatory programs. Taxes are being increased; some 19 new taxes, in the recently passed medical reform legislation. Unfortunately this isn’t enough. Of course, there is never enough.

As a result, as we pointed out recently, government has been eying retirement plans as a source of funding. The arm-twisting has been going on for some six months to make managers of retirement funds to purchase US Treasuries and Agency bonds. This is to provide a delaying action as the dollar begins to play second fiddle to gold as the only real currency. In addition, foreign central governments, which own well over $3 trillion of these debt instruments, hope that the US is serious about protecting the functioning ofgovernment. Accessing retirement plans will be an integral part of extending solvency to buy more time for Wall Street, banking and government. Of course there is nothing our purchased Congress won’t pass to stay in office.

Thus it has been decided behind the scenes to eventually confiscate the $15 trillion in private retirement funds. The only thing those who controlgovernment haven’t quite figured out yet is exactly how to confiscate what little wealth you have left. These plans were in construction in the early 1990s with funding from the Rockefellers. In 1991, plans were presented to create a mandatory pension system to be funded by a one-time 15% tax on retirement assets and a continuing tax of 15% on retirement income. Those plans had to be put on the shelf, because they were not politically acceptable at the time and passage was not possible. Today there are more aggressive plans in the works and if we do not unseat most of the incumbents in November’s election you will see passage of such legislation over the next two years.

Tax revenues are plunging due to high unemployment and the justification is there to present such legislation, as government spending reaches unbelievable levels. New methods, no matter how unpalatable have to be found to feed this devouring money monster.

In 2007 ideas were submitted to a congressional subcommittee by Thresa Ghilarducci who was director for the far, far, left at the New School for Social Research. Her idea, of course, was to make sure retirement would be available for millions who never bothered to save a cent and her solution was to confiscate the assets of those who did save. A program that would have made Marx and Lenin very happy. Her plan was to tax workers of 5% of their gross income. The eventual payout would be based ongovernment’s bogus CPI, which has been screwing retirees under COLA for the past 30 years. As any intelligent person knows the government is already broke and can never pay off its debt, thus the funds would be used to pay down existing debt. That would go for any plan thegovernment puts together. Since then we have seen other approaches, such as mandatory plans, voluntary plans, but they all end up stealing your retirement. As we said last week now is the time to start phasing out of these plans, such as IRAs. In order to overcome the tax and possible penalties you might phase out over 2 or 3 years. If you have any questions contact us and we will try to be of assistance.

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Internet 'Kill Switch' Proposed for US

A new US Senate Bill would grant the President far-reaching emergency powers to seize control of, or even shut down, portions of the internet.

The legislation says that companies such as broadband providers, search engines or software firms that the US Government selects "shall immediately comply with any emergency measure or action developed" by the Department of Homeland Security. Anyone failing to comply would be fined.

That emergency authority would allow the Federal Government to "preserve those networks and assets and our country and protect our people," Joe Lieberman, the primary sponsor of the measure and thechairman of the Homeland Security committee, told reporters on Thursday. Lieberman is an independent senator from Connecticut who meets with the Democrats.

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The Literal Creation Of Hell
Grab A Glass Of Wine To Read This Or A Bottle (Some Religious Overtones).

We Have A Few Months Left: Oil Currents Into The Atlantic and Coast

Estimated Cost For Gulf Cleanup is Over 1 Trillion Dollars. BP to Give 20 Billion For Claims

(Let) Gov. Charlie Crist checks a Florida beach for signs of "oil"?

BP Agrees to Set Aside About $20 Billion for Spill Claims

The oil disaster in the Gulf of Mexico is a corporate crime whose magnitude almost defies comprehension. The eventual cost—combining damage to complex Gulf and coastal ecosystems, wiping out of the fishing and tourism industries, and long-term health consequences for the population of the region—is likely to total over $1 trillion.

The explosion that destroyed the Deepwater Horizon drilling rig, killed 11 workers and began the massive and continuing flow of oil was not an “accident,” but the product of willful corporate cost-cutting and negligence. Further evidence of this fact was provided Monday in documents released by the House Energy and Commerce Committee. One document was an email from a BP engineer, Brian Morel, on April 14, six days before the explosion, in which he described the rig as a “nightmare well which has everyone all over the place.”

An accompanying letter from the committee detailed decisions made by BP officials during the days leading up to the disaster. “The common feature of these five decisions is that they posed a trade-off between cost and well safety,” the letter said. “Time after time, it appears that BP made decisions that increased the risk of a blowout to save the company time or expense.”

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Release Of Gulf Toxic Gases Are Truly Frightening

While most of the attention so far has been on the millions of gallons of oil that have escaped from the damaged BP rig in the Gulf of Mexico, many environmentalists are now wondering if the real danger to humans from this whole crisis may be the massive amounts of benzene and hydrogen sulfide that are escaping into the air. Hydrogen sulfideis a chemical asphyxiant, similar to carbon monoxide and cyanide gases. It causes "biochemical suffocation" by inhibiting cellular respiration and the uptake of oxygen. Benzene is a highly carcinogenic gas that can cause death if inhaled at high enough concentrations. Not only that, benzene has been shown to cause leukemia in all its forms. High levels of both gases have been detected at testing stations in the Gulf of Mexico. In addition, it is being reported that many fishermen in the Gulf that have been assisting with cleanup efforts have been getting seriously ill from breathing that air. There have been reports of symptoms including headaches, nausea, dizziness, burning eyes, coughing, sore throats, and stuffy sinuses. So as this oil spill continues and even more of these gases are released, are people across the southeast United States about to startbreathing air that is filled with highly toxic gases? Are we about to see the American Dream turned into a total nightmare for tens of millions of Americans? What some scientists are now telling us about the release of these gases is truly frightening.

At some testing stations in the Gulf of Mexico, levels of benzene have been detected at over 3000 parts per billion (over 3 parts per million). The U.S. Occupational Safety and Health Administration has set a maximum workplace exposure limit of 1 part of benzene per million parts of air during an 8 hour workday. So already some testing stations in the Gulf of Mexico have detected levels of benzene that are three times higher than what the OSHA considers to be safe.

Not only that, but WWLTV in New Orleans is reporting that hydrogen sulfide has been detected in the Gulf of Mexico at levels as high as 1,192 parts per billion. The concentration threshold at which humans begin to experience physical symptoms from hydrogen sulfide is about 5 to 10 parts per billion.

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Obama's Speech Bad, Lame, Nothing New

I agree with much of the instant TV commentary: Obama's address was surprisingly bad. He and his people made such a big deal of it--Oval Office and all--then when it arrived there was no there there. Nothing new. Hard facts were sparse, and in every case already well-known. I expected some new information. I expected at least a detailed, authoritative account of what was being done, and who was in charge of what. I thought there would be a more precise statement of what was being demanded of BP. He gave us none of this.
Then it got worse, with a lame, formulaic, campaign-style call for a clean energy policy. Perhaps that might have some traction after the emergency in the Gulf has been dealt with. Even then, I doubt it. But for now, with the oil still leaking and the problems with the clean-up anything but resolved, it is simply beside the point. I cannot think that this is what the country wanted to hear from Obama this week.

Now is the moment for this generation to embark on a national mission to unleash American innovation and seize control of our own destiny.

Now is the moment for such grand thoughts? Now is the moment for effective crisis management. Later, perhaps, is the moment for embarking on a national mission to reinvent the economy.

As we speak, old factories are reopening to produce wind turbines, people are going back to work installing energy-efficient windows, and small businesses are making solar panels.

No, as we speak, the oil is still pouring into the Gulf. What on earth were they thinking? This part of the speech blended grandiosity and complacency: as though he were saying, "Having dealt with the immediate crisis, I'd like to move on to the bigger issue of which this is just a part." The immediate crisis hasn't been dealt with; it is still getting worse.
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Housing Starts Plunge
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Tuesday, June 15, 2010

OBAMA GIVING SOUTHWEST BACK TO MEXICO

Two men shot earlier this week could be the result of the ongoing battle between Mexican drug cartels now spilling over deep into Arizona, officials say.
Pinal County investigators say an area known as the smuggling corridor now stretches from Mexico's border to metro Phoenix.
The area, once an area for family hiking and off road vehicles has government signs warning residents of the drug and human smugglers.
Night vision cameras have photographed cartel members with military arms delivering drugs to vehicles along Highway 8.
"We are three counties deep. How is it that you see pictures like these, not American with semi and fully automatic rifles. How is that okay?" asked Pinal County Sheriff Paul Babeu.
Babeu said he no longer has control over parts of his county.
"We are outgunned, we are out manned and we don't have the resources here locally to fight this," he said at a Friday news conference.
Five weeks ago Deputy Louie Puroll was ambushed and shot as he tracked six drug smugglers.

Sheriff Babeu said the ambush mirrored military tactics.
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National Guard Training For Riot Control, Mass Detentions?

In a previous story we noted that Reports Surfacing of Multi-State National Guard Mobilizations.

Further information made available after our report, much of which was published in the comment section by contributors who scoured the web for more information on the subject, suggests that the report was true and that national guard units had indeed been called up for training and possible deployment for domestic emergencies.

With the BP oil leak heating up (literally), there is a distinct possibility of noxious fumes and toxic hurricanes hitting our coasts over the coming months. Because there is minimal research on the subject available to the public, it is difficult to establish what is or is not a threat. Nonetheless, we advise those of our readers on or near the coast to remain aware of any developments regarding the possibility of emergencies or evacuations in their areas.

For those who may think we are overreacting to the possibility that the federal government would respond to an emergency, specifically mandatory evacuations on the gulf coast with the use of National Guard troops, we direct you to the article below, brought to our attention by Worldwide Wake Up Now and originally published at Public Intelligence.

In the event of a mass evacuation event, be it on the Gulf coast or as a result of an earthquake, chemical attack, biological attack, or other national emergency, we fully expect National Guard troops to be deployed. There will be mass chaos, violence, rioting, and looting, and local law enforcement simply will not have the capability to handle such a disaster.

The National Guard trains specifically for this, as depicted in the following article.

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20 Things You Will Need To Survive When The Economy Collapses And The Next Great Depression Begins

Today, millions of Americans say that they believe that the United States is on the verge of a major economic collapse and will soon be entering another Great Depression. But only a small percentage of those same people are prepared for that to happen. The sad truth is that the vast majority of Americans would last little more than a month on what they have stored up in their homes.

Click here to see what you need >

Most of us are so used to running out to the supermarket or to Wal-Mart for whatever we need that we never even stop to consider what would happen if suddenly we were not able to do that. Already the U.S. economy is starting to stumble about like a drunken frat boy. All it would take for the entire U.S. to resemble New Orleans after Hurricane Katrina would be for a major war, a terror attack, a deadly pandemic or a massive natural disaster to strike at just the right time and push the teetering U.S. economy over the edge. So just how would you survive if you suddenly could not rely on the huge international corporate giants to feed, clothe and supply you and your family? Do you have a plan?

Unless you already live in a cave or you are a complete and total mindless follower of the establishment media, you should be able to see very clearly that our society is more vulnerable now than it ever has been. This year there have been an unprecedented number of large earthquakes around the world and volcanoes all over the globe are awakening. You can just take a look at what has happened in Haiti and in Iceland to see how devastating a natural disaster can be. Not only that, but we have a world that is full of lunatics in positions of power, and if one of them decides to set off a nuclear, chemical or biological weapon in a major city it could paralyze an entire region. War could erupt in the Middle East at literally any moment, and if it does the price of oil will double or triple (at least) and there is the possibility that much of the entire world could be drawn into the conflict. Scientists tell us that a massive high-altitude EMP (electromagnetic pulse) blast could send large portions of the United States back to the stone age in an instant. In addition, there is the constant threat that the outbreak of a major viral pandemic (such as what happened with the 1918 Spanish Flu) could kill tens of millions of people around the globe and paralyze the economies of the world.

But even without all of that, the truth is that the U.S. economy is going to collapse. So just think of what will happen if one (or more) of those things does happen on top of all the economic problems that we are having.

(The Great panic Is On)

As the Great Depression of the 1930’s was getting underway, President Herbert Hoover refused to acknowledge it. In the weeks following the events of Black Tuesday, Hoover called the economy “fundamentally sound.” Months later, he still insisted that the strength of the American economy was “unimpaired.” However, by 1931 he could no longer hide the truth. With the economy in shambles, Hoover was forced to declare that America was indeed in a ‘depression’. He chose the word ‘depression’ because he believed it to somewhat innocuous and far less provocative than terms like ‘panics’ or ‘crises’ that had previously been used to refer to significant economic downturns.

That same semantic game is being played on us today. What we now call a ‘recession’ is what was known as a ‘depression’ back in the 1930’s. As economist John Williams explains:
“The Great Depression was one that was so severe that in the post-World War II era, those looking at economic cycles tried to come up with a euphemism for “depression.” They didn’t want to create the image of or remind people of the 1930s. Basically, they called economic downturns recessions, and most people think of a depression now as a severe recession.”(1)

The lies propagated by our government and their paid shills are perhaps their greatest crime. Deceiving the people concerning the scope and magnitude of our financial crisis denies them the opportunity to prepare for the tough days ahead. Even the word depression does not fully impress upon the people the serious predicament we now face. Perhaps its time we do remind people of the 1930’s and draw parallels between those tragic times and our current situation.
Today’s unemployment rate is fast approaching the worst levels seen since the Great Depression. The official unemployment rate (U3) released by the Bureau of Labor Statistics is currently at 9.9%. This is the number often reported by the mainstream media for public consumption but is far removed from reality.
To get closer to the real number we must consult the (U6) figure that is often touted as ‘true unemployment’. This figure adds into the equation those who fall under the contemporary definition of ‘discouraged worker’ and those who can only find ‘part-time’ work. That number puts the ‘true unemployment’ rate at 17.2%. But wait, there’s more!
Today’s definition of a discouraged worker is one who has not found work within the last year. Prior to 1994, a discouraged worker was defined as one who had not found work within the last month. That’s a big discrepancy. If we add those lost souls back into the equation, we come up with a more realistic unemployment rate of right around 22%. That’s just three clicks shy of the 25% often cited for the worst levels of the Great Depression in 1933. That 25% unemployment figure was reflective of all workers both on and off the farm.

Article 2

(California is Going to resemble Greece 2010)

More evidence that California is the new Greece.

As the state grapples with a horrible budget situation, Arnold Schwarzenegger is warning of pain ahead.

Specifically, according to the SacBee, Schwarzenegger press secretary Aaron McLear said:

"What you can expect generally is no taxes and terrible cuts, absolutely terrible cuts... We're not going to get through the deficit we have without some really tough decisions and some really terrible cuts."

This is going to get really ugly, and though California may stave off default, there's no way they'll be able to stave off the horrible demand destruction that will result from these "absolutely terrible cuts."

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Article 3

Times Up: Every 72 Years Is A Collapse

What we have here is the failure of the unfree market. That means the failure of Greece. And the other PIGS (Portugal, Italy, Greece, Spain). And Europe. And it means the U.S., too. It even includes the Great Recession. The modern welfare state is collapsing around us.

If you had believed in the 72-Year Rule, you would have seen this coming. The 72-Year Rule says the lifetime of any social order or governing paradigm is about 72 years. For example, how long was it from the adoption of our original Constitution (1789), which sanctioned slavery, to the Civil War (1861)? Call it 72 years. And from then until the New Deal in 1933? Another 72 years. How about from the Bolshevik Revolution (1917) to the fall of the Berlin Wall (1989)? That would be 72 years again.

Do you know when the first Social Security check was issued? January 31, 1940. If my guess is right, Social Security has maybe two more years left.

Generally, the modern welfare states were born in the 1930s. So the 72-Year Rule says the modern welfare states will collapse and/or turn into something else in the 2002-2012 time frame.

Kinda makes you believe in the 72-Year Rule, doesn't it?

Of course, there are more immediate explanations than this rather mystical pattern recognition. The problem is government debts. Huge debts. Unsustainable debts and structural deficits, not just temporary ones to get through recession or war. And what is behind all these debts? The very programs we started setting up in the 1930s, our "social safety nets." Feeling safe?

Blame it on Bush and Iraq or whatever you want. But Bush was not President of Greece. And Greece was not one of the thirty nations willing to admit to being part of the U.S.-led Coalition in Iraq. In fact, Greece was one of the more socialistic of the modern welfare states. The problem was debt. Debt caused by things like government retirement programs, government health programs, and government unemployment payments.

No one has a free market. I encourage you to look at the U.S. Statistical Abstract, Table 1324. That table tells us how much various governments spent as fractions of their economies. The U.S., the supposedly "free market" cowboy of the bunch, had a government that spent 38.6% of its country's GDP in 2008. The lowest of the bunch was South Korea, at 30.9%, and the highest was France, at 52.5%. Five countries, of 28 listed, spent less than the U.S. did, including Australia and Switzerland. Greece was merely in the middle of the pack at 43.2%.

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Article 4

Economic Disaster Of Epic Proportions Coming

As we get distracted by the FEDERAL Reserve European bailout, we almost forgot the huge fallout of future mass unemployment on the horizon. According to reliable sources the unemployed fisherman in the gulf region have been getting paid out by BP and taking their "winnings" to strip clubs, bars and just living it up. This payout eliminates a future class action suit, putting more people into the food stamp line. BP: Sign here..here..and here..please....

Could these regions be vacant for a generation to come? The future looks grim for the hundreds of thousands of occupants along the coastal region that rely on tourists, fish and local businesses. The thought of this oil gusher possibly never being capped, could create an empty ocean and devastation around the world. Could bags of garbage, wooden contraptions and possible "nuclear" caps create a future BP bailout for the FEDERAL RESERVE? How long can the FEDS continue to bailout out countries, banks and large corporations? Forever? The Feds will never bailout the people, so the masses better start exiting, before the BP cash is all gone and the food stamp lineups extend around the region. Don't forget people, when the FEDS bailout BP, they keep the money, businesses will not see a cent!
"Fed Air" cash will come to end sometime and when it does, will we see an Economic Depression worse than anything imaginable? Its possible...stay tuned..

article 5

Jim Sinclair: It's All Over. The Fat Lady Has Sung

The solution is the problem. To quote Bill Carleton’s album, Squeeze the People, "Main Street is in the hands of a Roulette Wheel." He is so correct.

The name of the "Roulette Wheel" is Credit Default Swaps. It does not matter what the G-7 or the G-20 does. It does not matter what the IMF, ECB and Fed under a beard do. Mrs. Merkel’s foolish political strategy fits right into the equation.

CDS are going to take down every major currency, making trillions for the players. It will in time turn on the USA as it is already operating against the financially weaker Illinois and New York debt.

The dollar, as it gains ground due to the mirror image of the euro, becomes weaker and weaker due to overvaluation with no fundamental legs. The dollar’s time will come.

The OTC derivative credit default swap is about to clean the clock of the world. Der Spiegel is right but the debt is there. It will not go away but only grow bigger. The situation is in the cross hairs of the richest people on the planet hell bent on getting richer. That is the message of the Dow dropping 1000 points regardless of how it happened.

Nothing the G-7 or G-20 does will stop the predetermined avalanche in the world of fiat currency. Armstrong is right in that when it comes time for the great coming apart it will be akin to the Big Bang.

You are either ready now, or there will be no chance of readiness. Right now ready means gold and gold equivalents. The last currencies to be attacked will be the Cando and the Swiss Franc.

It is all over. The fat lady has sung.

Respectfully,
Jim

Article 6

More Expert Opinions On Economic Doom

Richard Russell (Market Expert)

(from 2/3/10) says the bear market rally is in the process of breaking up and panic is on the way. He sees a full correction of the entire rise from the 2002 low of 7,286 to the bull market high of 14,164.53 set on October 9, 2007. The halfway level of retracement was 10,725. The total retracement was to 6,547.05 on March 9, 2009. He now sees the Dow falling to 7,286 and if that level does not hold, “I see it sinking to its 1980-82 area low of Dow 1,000.” The current action is the worst he has ever seen. (Bob Chapman says for Russell to make such a startling statement is unusual because he never cries wolf and is almost never wrong)

Niño Becerra (Professor of Economics)
Predicted in July 2007 that what was going to happen was that by mid 2010 there is going to be a crisis only comparable to the one in 1929. From October 2009 to May 2010 people will begin to see things are not working out the way the government thought. In May of 2010, the crisis starts with all its force and continues and strengthens throughout 2011. He accurately predicted the current recession and market crash to the month.

Lyndon Larouche
The crisis is accelerating and will become worse week by week until the whole system grinds into a collapse, likely sometime this year. And when it does, it will be the greatest collapse since the fall of the Roman Empire.

WALL STREET JOURNAL- (2/2010)
"You are witnessing a fundamental breakdown of the American dream, a systemic breakdown of our democracy and our capitalism, a breakdown driven by the blind insatiable greed of Wall Street: Dysfunctional government, insane markets, economy on the brink. Multiply that many times over and see a world in total disarray. Ignore it now, tomorrow will be too late."

Eric deCarbonnel
There is no precedence for the panic and chaos that will occur in 2010. The global food supply/demand picture has NEVER been so out of balance. The 2010 food crisis will rearrange economic, financial, and political order of the world, and those who aren’t prepared will suffer terrible losses…As the dollar loses most of its value, America's savings will be wiped out. The US service economy will disintegrate as consumer spending in real terms (ie: gold or other stable currencies) drops like a rock, bringing unemployment to levels exceeding the great depression. Public health services/programs will be cut back, as individuals will have no savings/credit/income to pay for medical care. Value of most investments will be wiped out. The US debt markets will freeze again, this time permanently. There will be no buyers except at the most drastic of firesale prices, and inflation will wipe away value before credit markets have any chance at recovery. The panic in 2010 will see the majority of derivatives end up worthless. Since global derivatives markets operate on the assumption of the continued stable value of the dollar and short term US debt, using derivatives to bet against the dollar is NOT a good idea. The panic in 2010 will see the majority of derivatives end up worthless. The dollar's collapse will rob US consumers of all purchasing power, and any investment depend on US consumption will lose most of its value.

Alpha-Omega Report (Trends Forecast)
Going into 2010, the trends seemed to lead nowhere or towards oblivion. Geo-politically, the Middle East was and is trending towards some sort of military clash, most likely by mid-year, but perhaps sooner...At the moment, it seems 2010 is shaping up to be a year of absolute chaos. We see trends for war between Israel and her neighbors that will shake every facet of human activity...In the event of war, we see all other societal trends being thoroughly disrupted...Iran will most likely shut off the flow of oil from the Persian Gulf. This will have immense consequences for the world’s economy. Oil prices will skyrocket into the stratosphere and become so expensive that world’s economies will collapse..There are also trend indicators along economic lines that point to the potential for a total meltdown of the world’s financial system with major crisis points developing with the change of each quarter of the year. 2010 could be a meltdown year for the world’s economy, regardless of what goes on in the Middle East.

Robin Landry (Market Expert)
I believe we are headed to new market highs between 10780-11241 over the next few months. The most likely time frame for the top is the April-May area. Remember the evidence IMHO still says we are in a bear market rally with a major decline to follow once this rally ends.

John P. Hussman, Ph.D.
In my estimation, there is still close to an 80% probability (Bayes' Rule) that a second market plunge and economic downturn will unfold during 2010.

Robert Prechter
Founder of Elliott Wave International, implores retail investors stay away from the markets… for now. Prechter, who was bullish near the lows in March 2009, now says the stock market “is in a topping area.”predicting another crash in 2010 that will bring stocks below the 2009 low. His word to the wise, “be patient, don’t rush it” keep your money in cash and cash equivalents.

Richard Mogey
Current Research Director at the Foundation for the Study of Cycles- Because of a convergence of numerous cycles all at once, the stock market may go up for a little while, but will crash in 2010 and reach all-time lows late 2012. Mogey says that the 2008 crash was nothing compared to the coming crash. Gold may correct in 2009, but will go up in 2010 and peak in 2011. Silver will follow gold.

James Howard Kunstler (January 2010)
The economy as we’ve known it simply can’t go on, which James Howard Kunstler has been saying all along. The shenanigans with stimulus and bailouts will just compound the central problem with debt. There’s not much longer to go before the whole thing collapses and dies. Six Months to Live- The economy that is. Especially the part that consists of swapping paper certificates. That’s the buzz I’ve gotten the first two weeks of 2010.

Peter Schiff (3/13/2010)
"In my opinion, the market is now perfectly positioned for a massive dollar sell-off. The fundamentals for the dollar in 2010 are so much worse than they were in 2008 that it is hard to imagine a reason for people to keep buying once a modicum of political and monetary stability can be restored in Europe. In fact, the euro has recently stabilized. My gut is that the dollar sell-off will be sharp and swift. Once the dollar decisively breaks below last year's lows, many of the traders who jumped ship in the recent rally will look to re-establish their positions. This will accelerate the dollar's descent and refocus everyone's attention back on the financial train-wreck unfolding in the United States. Any doubts about the future of the U.S. dollar should be laid to rest by today's announcement that San Francisco Federal Reserve President Janet Yellen has been nominated to be Vice Chair of the Fed's Board of Governors, and thereby a voter on the interest rate-setting, seven-member Open Markets Committee. Ms. Yellen has earned a reputation for being one of the biggest inflation doves among the Fed's top players." Schiff is famous for his accurate predictions of the economic events of 2008.

Lindsey Williams
Dollar devalued 30-50% by end of year. It will become very difficult for the average American to afford to buy even food. This was revealed to him through an Illuminati insider.

Unnamed Economist working for US Gov't (GLP)
What we have experienced the last two years is nothing to what we are going to experience this year. If you have a job now...you may not have it in three to six months. (by August 2010). Stock market will fall = great depression. Foreign investors stop financing debt = collapse. 6.2 million are about to lose their unemployment.