“Ok, so where is the US economy REALLY at right now? Year over year real employment, real industrial orders, real housing starts, and real retail sales are all posting their largest drops since the production shutdown following WWII. Put another way, the last time the US economy fell this hard this fast, we were intentionally shutting down the monster than was the US war machine in WWII. This is no recession. We are already on our way to a Depression (a GDP contraction of 10%) possibly even another Great Depression. One in nine Americans are currently receiving food stamps. Real unemployment (without birth/death seasonal nonsense and all the other Federal gimmicks) stands at 20%. So I don't buy the "green shoots" theory at all. Having things get horrendous at a slightly slower rate is NOT a sign of a recovery. Green shoots can pop up anywhere including the asphalt in the parking lot outside my office. That doesn't mean the parking lot is about to become a lush meadow.” The Coming Economic Collapse Graham Summers June 12, 2009 The Coming Economic Collapse
One of my concerns about the candidacy of Barack Obama was that if he won the election, he could become the twenty-first century version of Herbert Hoover. For those of you not familiar with US history, Herbert Hoover was president when the US stock market crashed in 1929. He was in office when the Great Depression began shortly after the collapse of ‘29. It wasn’t until Franklin Delano Roosevelt came into office with a Democratic Party victory that gave the Democrats control of the US Congress in 1932 and the US entered WWII in 1941 that the Depression was finally put in check. During Roosevelt’s early terms as president ( he won four elections but died in office) the real cause of the depression: the banks not lending money and the Federal Reserve Bank withholding credit, continued unabated. Despite Roosevelt’s early efforts, conditions didn’t really improve that much until the US entered WWII.
Just like during the 30's depression, today’s bankers are gobbling up people’s farms, businesses and homes as people are increasingly unable to pay their bills. But unlike during the 30's depression when President Roosevelt put a stop to the seizure of people’s homes, farms and businesses, we have no champion to look out for the little man to stop the foreclosures on our property. That’s why the bankers hated Roosevelt and organized a home grown fascist coup against him. For more details about this suppressed event in US history go to FDR vs. the Banks: Morgan's Fascist Plot, and How It Was Defeated Alas for us, Barack Obama doesn’t have to worry about any coup attempts by the bankers and ruling elites like Roosevelt because he’s owned by the bankers and financial elites lock stock and barrel. All the recent moves to supposedly save the economy have really been initiated to prop up Wall Street and the shadow financial system.
It wasn’t until the US geared up for entry into another major European war that the economy began to turn around. The economic turnaround did not happen because of a flash of enlightened fiscal policy or increased productivity. It came about because the international bankers lent the US government money to enter the war and the US government spent money it did not have to retool for war. The international bankers (who funded both Hitler and the US) didn’t do this out of the goodness of their hearts (they are heartless psychopaths) or because they favored “freedom” and “democracy” over fascism or totalitarianism. They did it for more depraved reasons, the obscene profits from the compound interest they’d earn on the loans they made. They’ve been doing this for centuries, fomenting wars and funding both sides. It costs money to wage war. So the bankers instead of lending money for peaceful purposes used their usury system to create WMD, widows and orphans.
The international bankers, defense contractors and their flunkies in government get richer during times of war. To get rich, unscrupulous corporations, career military men and corrupt politicians create a need for weapons and a perpetual warfare state by inventing various and sundry enemies, creating circumstances and an environment where weapons are prioritized at the expense of peaceful programs and projects. This is why when he was leaving office US President Dwight D Eisenhower warned against the expanding influence of the military industrial complex. Too bad no one really listened to him or understood the implications of what he was saying.
The same conditions of manipulation, collusion, graft and corruption that led to the ‘29 Stock Market crash and the great depression also created the current depression, and make no mistake we are in a depression. “ Success for the capitalists is not measured in terms of whether workers are losing their homes, their jobs, their lives (in war-profiteering wars), or their Constitutional liberties; success is determined by whether their system--however rotten--continues to allow for windfall profits to oil companies, war materiel corporations, and all the other cabal business interest. Capitalists have added a new fascist twist to contemporary capitalism: profits are private, losses are public. They'll continue to dole out worker-taxpayer money to failed financial institutions for as long as possible, rather than admit that the whole capitalist superstructure has collapsed. If capitalism's breakdown becomes so overwhelming that they can no longer print enough money to save all the upcoming financial institution failures, they'll orchestrate a general collapse in which they can then buy failed businesses for pennies on the dollar and force workers into deeper destitution.” Economic Collapse
The real economic news is not good, unemployment is rising steadily despite the media and government’s glee we only lost a half million jobs last month !? Credit is frozen so businesses, farmers and entrepreneurs can’t get money or lines of credit to start, survive or expand. This is not a recession; the real economy the one that makes stuff, (as opposed to the financial sector which doesn’t and is being propped up by our tax dollars), is in free fall. “Who is suffering the biggest and most pervasive losses? U.S. households and nonprofit organizations. The losses have been across the board — in real estate, stocks, mutual funds, family businesses, life insurance policies, and pension funds. In U.S. households alone, the losses have been massive: $1.39 trillion in the third and fourth quarters of 2007 … a gigantic $10.89 trillion in 2008 … $1.33 trillion in the first quarter of 2009 … $13.87 trillion in all, by far the worst of all time. And these losses have equally massive consequences for 2009 and 2010eep cutbacks in consumer spending ahead, plus a virtual disappearance of conspicuous consumption. More massive sales declines at most of America’s giant manufacturers, retail firms, transportation companies, restaurants, and more, plus Big losses replacing profits at most U.S. corporations!” New, Hard Evidence of Continuing Debt Collapse! by Martin D. Weiss, Ph.D. http://www.moneyandmarkets.com/new-h...-debt-collapse
The Obama administration’s rosy fairytale about “green shoots” and signs of recovery are delusional at best. For an accurate picture of the economy read New, Hard Evidence of Continuing Debt Collapse! by Martin D. Weiss, Ph.D. in Money and Markets Money and Markets ? FREE Financial Investment Publication It’s a sobering look at what is really going on. But you don’t even have to do that, just ask your neighbors how they are doing? How many of your family members are scuffling, how many are working two or three jobs just to keep their heads above water? How many have lost their jobs in the last few months? How many can’t find work? Does this sound like a recovery to you? Are you experiencing good times personally? We know the government lies about the unemployment figures and the deficits, why should we believe them about the economy? Obama is a liar, get over it. To see one worst case scenario read The American Empire Is Bankrupt By Chris Hedges on *The American Empire Is Bankrupt**** : Information Clearing House - ICH We are seeing some of these things playing out now. Don’t believe the hype we are in the throes of a real depression and it will worsen before it gets better.