tagged w/ Economics
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While this strategy of indirect vote buying has worked well for politicians on both sides of the aisle for many decades, and has been instrumental in ushering in an era of centrally planned economies and expansion of government influence on the individual lives of American citizens, it is as Bill Whittle suggests, an unsustainable system that will ultimately fail. http://www.shtfplan.com/headline-news/the-collapse-of-america-in-raw-numbers-video_02092012While this strategy of indirect vote buying has worked well for politicians on both... more
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When most people think about America's debt problem, they think of the debt of the federal government. But that is only part of the story. The sad truth is that debt slavery has become a way of life for tens of millions of American families. Over the past several decades, most Americans have willingly allowed themselves to become enslaved to debt. These days, most of us are busy either going into even more debt or paying off the debt that we have accumulated in the past. When your finances are dominated by debt, it makes it really hard to ever get ahead. Incredibly, 43 percent of all American families spend more than they earn each year. Even while median household income continues to decline (now less than $50,000 a year), median household debt continues to go up. According to the Federal Reserve, median household debt in America has risen to $75,600. Many Americans spend decades caught in the trap of debt slavery. Large numbers of them never even escape at all and die in debt. It can be a lot of fun to spend lots of money and go into lots of debt, but it can be absolutely soul crushing to toil and labor for years paying off those debts while making others wealthy in the process. Hopefully this article will inspire many people to try to escape the chains of debt slavery once and for all.When most people think about America's debt problem, they think of the debt of... more
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What would happen if the Federal Reserve was shut down permanently? That is a question that CNBC asked recently, but unfortunately most Americans don't really think about the Fed much. Most Americans are content with believing that the Federal Reserve is just another stuffy government agency that sets our interest rates and that is watching out for the best interests of the American people. But that is not the case at all. The truth is that the Federal Reserve is a private banking cartel that has been designed to systematically destroy the value of our currency, drain the wealth of the American public and enslave the federal government to perpetually expanding debt. During this election year, the economy is the number one issue that voters are concerned about. But instead of endlessly blaming both political parties, the truth is that most of the blame should be placed at the feet of the Federal Reserve. The Federal Reserve has more power over the performance of the U.S. economy than anyone else does. The Federal Reserve controls the money supply, the Federal Reserve sets the interest rates and the Federal Reserve hands out bailouts to the big banks that absolutely dwarf anything that Congress ever did. If the American people are ever going to learn what is really going on with our economy, then it is absolutely imperative that they get educated about the Federal Reserve.What would happen if the Federal Reserve was shut down permanently? That is a... more
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Today, the number of American adults that can't take care of themselves is at an all-time record high. So what are we going to do if the number of people dependent on the government keeps going up? Some folks like to point out that most Americans that have recently become dependent on the government would rather be working, but because of a lack of jobs they have gotten into a position where they cannot take care of themselves anymore. Some other folks like to point out that the number of Americans that abuse the system and that enjoy being dependent on the government is steadily increasing. Sadly, both of those positions are true. It is a fact that the percentage of working age Americans that actually have jobs has declined dramatically over the past several years because of a lack of jobs. It is also a fact that a growing percentage of Americans believe that it is the job of the government to take care of them from the cradle to the grave. What people need to understand is that the government is the problem and not the solution. We desperately need more jobs in this country, but the federal government has been absolutely killing job growth, it has been creating a culture of government dependency, and it has been going into gigantic amounts of debt trying to take care of so many people. So what are we going to do if the number of American adults that can't take care of themselves continues to set new records year after year?Today, the number of American adults that can't take care of themselves is at an... more
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There is no avoiding the final collapse of a boom created solely by credit expansion. Those in power will never voluntarily relinquish their grand game of pillaging the wealth of the nation, so economic collapse will be the ultimate result. They will continue to use propaganda, printing presses, and half-truths to further their agenda. But those who examine the facts will come to a logical conclusion that we are being sold a great lie. http://www.washingtonsblog.com/2012/02/illusion-of-recovery-feelings-versus-facts.htmlThere is no avoiding the final collapse of a boom created solely by credit expansion.... more
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If you have any money and you want to understand the lies that “your” government tells you with statistics, subscribe to John Williams shadowstats.com... Here is the chart of real average weekly earnings deflated by the US government’s own measure of inflation, which as I pointed out in my recent column, Economics Lesson 1, understates true inflation. http://www.paulcraigroberts.org/2012/02/02/the-real-economic-picture/If you have any money and you want to understand the lies that “your”... more
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If the global economy is not heading for a recession, then why is global shipping slowing down so dramatically? Many economists believe that measures of global shipping such as the Baltic Dry Index are leading economic indicators. In other words, they change before the overall economic picture changes. For example, back in early 2008 the Baltic Dry Index began falling dramatically. There were those that warned that such a rapid decline in the Baltic Dry Index meant that a significant recession was coming, and it turned out that they were right. Well, the Baltic Dry Index is falling very rapidly once again. In fact, on February 3rd the Baltic Dry Index reached a low that had not been seen since August 1986. Some economists say that there are unique reasons for this (there are too many ships, etc.), but when you add this to all of the other indicators that Europe is heading into a recession, a very frightening picture emerges. We appear to be staring a global economic slowdown right in the face, and we all need to start getting prepared for that.If the global economy is not heading for a recession, then why is global shipping... more
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Did you see the Chrysler commercial featuring Clint Eastwood that aired during the Super Bowl the other night? It was entitled "It's Halftime In America", and it was truly a great ad. To me, it was the most memorable Super Bowl ad this year by far. It conjured up images of the America that so many of us remember so fondly. It reminded us of how life in this country used to be. Unfortunately, America is currently headed down a road that is taking us in the opposite direction. Yes, it is halftime in America, but there is no guarantee that what is ahead is going to be great. In fact, if we continue to make the same choices that we have been making, a national nightmare is inevitable. Let us hope and pray for a fundamental change of direction for America, but let us also prepare for what is going to happen if that does not take place. There is a "pause in the action" at the moment, so now is the time to get your financial priorities in order. Now is the time to prepare for the storm that is coming. If you wait until the storm is right on top of you it will probably be too late.Did you see the Chrysler commercial featuring Clint Eastwood that aired during the... more
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https://dl.dropbox.com/u/56637748/ODS-25Jan2012-Release.htm
We are Occupy Dame Street, part of Occupy Ireland and the global Occupy movement.
The morning of 25th January, 2012 - 06:30 GMT , in response to the payment of €1.25 billion to unknown bondholders of the former Anglo Irish bank, Occupy Dame Street activists peacefully locked down the Irish Department of Finance and made every effort to keep the building locked down until 5pm.
This €1.25 billion euro payment is only part of a larger €30 billion euro giveaway to as yet un-named investors / gamblers. We call on the people of Ireland to start planning resistance in your own areas to the unfair and unnecessary burden of bond/promissory payments; and to wage cuts and service reductions that, if not stopped, will further impoverish the good people of this Island nation.
https://dl.dropbox.com/u/56637748/ODS-25Jan2012-Audio1.mp3
Occupy Dame Street's Media Statement on the day (25th January, 2012)
Even under the terms of the treasonous bank bail-out agreement, there was and is no expectation that the people of Ireland make these payments. The agreement to pay, we believe, is a personal choice by the Minister for Finance Michael Noonan, reflecting very much his own deferential nature. We believe that the Minister for Finance, his cabinet colleagues, all government back bench TD’s and all those who have colluded with private banking interests have failed to realise the power of defiance and resistance.
Instead they have cowed to the bondholders and criminal consortiums who demand the profit from the labour of the Irish people, who demand the deconstruction of our health and education systems to fund their game of monopoly. Threats that there will be no money in the ATM’s of Ireland are without foundation, this has not been the experience of many other nations who refused to pay such as Iceland, Argentina and Singapore to name a few, all of which are experiencing buoyant economic growth in the teeth of this so called crisis.
We hope today’s and future actions will put powder in the gun Noonan takes with him to the IMF/ECB bankers table. We refuse to stand by as the Irish people, our families, friends and neighbours, are made debt slaves to the IMF/ECB, as has happened in so many other nations in which they have arrested power from the people.
In the coming year, and for many years to come, the Irish people, by character a hard working and generous people, will transfer under duress, €6 billion euro per year to faceless money changers. The figures are almost unimaginable and the loss to the good people of this island will be devastating.
It is for this reason that we, Occupy Dame Street, and other Occupy movements throughout the Island of Ireland, are embarking on a radical campaign of peaceful direct actions. Through such direct actions we hope to raise awareness of the reality of what is happening to our community, the unnecessary depravation for so many, that is today’s Ireland. We also hope to inspire and build a peaceful resistance movement dedicated to empowering the community of Ireland to make real the demands of Occupy Dame Street such as the realising of the potential of our natural resources and the acknowledgement of our shared intelligence and abilities through Peoples General Assemblies.
We call on the people of Ireland, political and apolitical, old and young, male and female, of every ethnic, cultural and religious background, to start planning for resistance in your own areas. If you are in the Suburbs of Dublin, Limerick, Cobh, Galway, Waterford, Letterkenny, Dundalk , Belfast or the many other urban communities of Ireland, start planning peaceful acts of resistance.
If you are in the farmland parishes of Ireland, the hills of Wicklow, the plains of Meath, the rocky outposts of Kerry or on our beautiful Islands, start talking and planning. The power to make the community of Ireland a better place to live is in our hands, lets grasp it and resist the unfair and unnecessary burden of bond/promissory payments, wage cuts and service reductions that, if not stopped, will further impoverish the good people of this Island nation.https://dl.dropbox.com/u/56637748/ODS-25Jan2012-Release.htm
We are Occupy Dame... more
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"David McWilliams, Irish economist, gives us our first lesson in punk economics.
Category:""David McWilliams, Irish economist, gives us our first lesson in punk economics.... more
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The people out there that believe that the U.S. economy is experiencing a permanent recovery and that very bright days are ahead for us should have their heads examined. Unfortunately, what we are going through right now is simply just a period of "hopetimism" between two financial crashes. Things may seem relatively stable right now, but it won't last long. The truth is that the financial crisis of 2008 was just a warm up act for the economic horror show that is coming. Nothing really got fixed after the crash of 2008. We are living in the biggest debt bubble in the history of the world, and it has gotten even bigger since then. The "too big to fail" banks are larger now than they have ever been. Americans continue to run up credit card balances like there is no tomorrow. Tens of thousands of manufacturing facilities and millions of jobs continue to leave the country. We continue to consume far more than we produce and we continue to become poorer as a nation. None of the problems that caused the crisis of 2008 have been solved and we are even weaker financially than we were back then. So why in the world are so many people so optimistic about the economy right now?The people out there that believe that the U.S. economy is experiencing a permanent... more
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On Friday, the entire financial world celebrated when it was announced that the unemployment rate in the United States had fallen to 8.3 percent. That is the lowest it has been since February 2009, and it came as an unexpected surprise for financial markets that are hungry for some good news. According to the Bureau of Labor Statistics, nonfarm payrolls jumped by 243,000 during the month of January. You can read the full employment report right here. Based on this news, pundits all over the world were declaring that the U.S. economy is back. Stocks continued to rise on Friday and the Dow is hovering near a 4 year high. So does this mean that our economic problems are over? Of course not. A closer look at the numbers reveals just how fraudulent these employment statistics really are. Between December 2011 and January 2012, the number of Americans "not in the labor force" increased by a whopping 1.2 million. That was the largest increase ever in that category for a single month. That is how the federal government is getting the unemployment rate to go down. The government is simply pretending that huge numbers of unemployed Americans don't want to be part of the labor force anymore. As you will see below, the employment situation in America is not improving. Yet everyone in the mainstream media is dancing around as if the economic crisis has been cancelled. I can't take it anymore! It is beyond ridiculous that so many intelligent people continue to buy in to such fraudulent numbers.On Friday, the entire financial world celebrated when it was announced that the... more
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The United Nations says that the earth is in great danger and that the way you and I are living is the problem. In a shocking new report entitled, "Resilient People, Resilient Planet: A Future Worth Choosing" the UN declares that the entire way that we currently approach economics needs to be changed. Instead of focusing on things like "economic growth", the UN is encouraging nations all over the world to start basing measurements of economic success on the goal of achieving "sustainable development". But there is a huge problem with that. The UN says that what we are doing right now is "unsustainable" by definition, and the major industrialized nations of the western world are the biggest culprits. According to the UN, since we are the ones that create the most carbon emissions and the most pollution, we are the ones that should make the biggest sacrifices. In addition, since we have the most money, we should also be willing to finance the transition of the developing world to a "sustainable development" economy as well. As you will see detailed in the rest of this article, the United Nations basically wants to crash the world economy in order to save the environment. Considering the fact that the U.S. and Europe are in the midst of a horrible economic crisis and are already drowning in debt, this is something that we simply cannot afford.The United Nations says that the earth is in great danger and that the way you and I... more
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Much has been said about how multi-millionaire candidates relate to the middle class. Most of them advize Americans who are part of the shrinking middle to simply get new jobs, but they're silent on how to pull that off in the recession they created. To them, grousing from Americans caught in the vice of diminishing means is just class warfare.Much has been said about how multi-millionaire candidates relate to the middle class.... more
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Have you ever watched a football game or a basketball game where one team dominates the other team so badly that calling it a "blowout" would be a huge understatement? Well, that is what China is doing to the United States. China is absolutely destroying America on the global economic stage. Once upon a time, the Chinese economy was a joke and the U.S. economy was the most powerful the world had ever seen. But over the past couple of decades the U.S. economy has decayed and declined while the Chinese economy has skyrocketed. Today, China makes more steel, more automobiles, more beer, more cotton, more coal and more solar panels than we do. China has the fastest train in the world, the fastest computer in the world and they export twice as much high-tech equipment as we do. In 2011, our trade deficit with China was the largest trade deficit that one nation has had with another nation in the history of the world, and China has now accumulated more than 3 trillion dollars in foreign currency reserves. Every single day, we lose more jobs, more businesses and more of our national wealth to China. In technical economic terms, China has "taken us out behind the woodshed" and has beaten the living daylights out of us. Unfortunately, most Americans are so addicted to entertainment that they don't even realize what is happening.Have you ever watched a football game or a basketball game where one team dominates... more
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How would you feel if someone told you that one of the largest banks on Wall Street makes more money whenever the number of Americans on food stamps goes up? Unfortunately, this is something that is actually true. In the United States today, one out of every seven Americans is on food stamps. In fact, the number of Americans on food stamps has increased by a whopping 14 million since Barack Obama entered the White House. All of this makes JP Morgan very happy, because JP Morgan has been making money by the boatload on food stamps. Right now, JP Morgan Chase issues food stamp debit cards in 26 U.S. states and the District of Columbia. The division of JP Morgan Chase that issues these debit cards made an eye-popping 5.47 billion dollars in net revenue during 2010. JP Morgan is paid per customer, so when the number of Americans on food stamps goes up, they make more money. But doesn't this give JP Morgan an incentive to try to keep the number of Americans on food stamps as high as possible? Of course it does. JP Morgan is interested in making money as rapidly as possible. If JP Morgan can get more Americans enrolled in the food stamp program and keep them enrolled in it for as long as possible, that is good for business.How would you feel if someone told you that one of the largest banks on Wall Street... more
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An economic nightmare is descending on Europe. With each passing month, the economic numbers across Europe get even worse. At this point it is becoming extremely difficult for anyone to deny that Europe is plunging into a full-blown economic depression. In fact, some parts of Europe are already there. In Spain the overall unemployment rate is over 22 percent, and in Greece one out of every five retail establishments has already been closed down. All over Europe, economic activity is rapidly slowing down, unemployment is skyrocketing and bad debts are unraveling. It isn't even going to take a default by a nation such as Greece or a collapse of the euro to push Europe into an economic depression. All Europe has to do is to stay on the exact path that it is on right now and it will get there. Normally, European governments would respond to an economic slowdown by increasing government spending. But this time most of them are already drowning in debt. Instead of increasing government spending, most governments in Europe are actually cutting back. All over Europe, national governments are being encouraged to implement even more tax increases and even more budget cuts. The hope is that all of this austerity will help solve the nightmarish sovereign debt crisis that Europe is facing. But unfortunately, all of these tax increases and budget cuts are also going to involve a tremendous amount of economic pain.An economic nightmare is descending on Europe. With each passing month, the economic... more
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Did you know that the federal government is giving out free cell phones and free cell phone minutes to welfare recipients? It may be hard to believe, but it is true. Right now, there are companies that are running advertisements specifically targeted at low income Americans informing them of the fact that all they have to do is sign up and they can get a free cell phone and hundreds of free cell phone minutes every single month and it will all be paid for by the federal government. Some have referred to this as "The Obama Phone", but that is not exactly accurate. The outrageous federal programs that are paying for this were initiated before Barack Obama entered the White House. But the fact that welfare recipients have been receiving free cell phones and free cell phone minutes under both the Bush and Obama administrations has been confirmed as being true by Snopes. All of this is paid for by "the federal Universal Service Fund". That is one of those annoying little taxes that you may have noticed on your phone bill. So what is essentially happening is the federal government is taking money from all of us so that they can provide free cell phone service for welfare recipients every single month.Did you know that the federal government is giving out free cell phones and free cell... more
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