Tag Archives: depression

New Great Depression : United Kingdom takes down the world with Brexit!

24 June 2016 (01:46 UTC-07 Tango 01) 04 Tir 1395/18 Ramadan 1437/20 Jia-Wu 4714

‘Expert’ analysts are shocked, and stock markets around the world are in free fall, as the oppressed people of United Kingdom voted, by a large margin, to get the hell outta the non-democratic European Union!

Scotland’s Skynews reported that European stock markets lost “billions” in only a couple of hours of trading.  Reports that the value of the British pound sterling has crashed to levels never seen in its history.

Evil British prime minister David Cameron has resigned, officially stepping down in three months!  Reports that oppressed people of Netherlands and France now demanding to get the hell outta the EU!

The same analysts who said U.K. would never leave the EU also say pro-EU Scotland will declare independence if the U.K. does leave the EU.   European Union nazis say EU law will remain in effect in the U.K. until they officially leave.  This is a major reason why the people of the U.K. are oppressed; the EU is not a true government, it is an economic union.  Europeans do not elect the representatives in the EU.  The EU has no legitimacy in creating ‘laws’ when it is not an elected government!

Will there be massive defaults on loans payments to the U.S. based IMF (International Monetary Fund) and World Bank?  What caused The Great Global Depression of the 1920s-30s?  European countries defaulted on loan payments to the United States!

Global Food Crisis: Where’s the beef? Texas drought killing the cattle industry

“Consumers are going to pay more because we’re going to have less beef. Fewer cows, calves, less beef production and increasing [demand for] exports.”-David Anderson, Texas AgriLife Extension Service

Texas is officially suffering its worst drought ever!  The decline in cows just more proof.

Texas is now seeing the biggest drop in cattle since the U.S. Great Depression in 1930s.  This year they lost more than 600,000 cattle.  Not all to death directly caused by drought, or early slaughter, some were moved out of state to, literally, greener pastures.

It’s not just Texas, but Oklahoma, New Mexico, Louisiana and Arkansas also saw an increase in loss of cattle due to drought.

This past year beef prices for U.S. consumers went up 9%. The USDA predicts another 5.5% increase for 2012.

 

 

Occupy America, What Economic Recovery? Forget percentages, unemployment numbers already worse than 1930s Great Depression. Federal Reserve quietly preps banks for worse to come!

At the peak of the Great Depression, in 1933, 12.8 million people were officially unemployed in the United States.  According to the U.S. Bureau of Labor Statistics we’re already past that; 13.9 million officially unemployed!

Now take into account that some sources are saying that the Bureau of Labor is intentionally under reporting the numbers; they should read 17 million unemployed!  Then there are those that say if older unemployment counting methods were used, we’re actually double the officially reported numbers!

Now enter the Federal Reserve (the privately run central bank of the United States).  On November 22, Ben Bernanke quietly asked 19 top banks/financial institutions to conduct a stress test, for the third time since 2009.

The second stress test was completed in March 2011, and several banks failed, including Bank of America!  It was not publicly reported!

Reports say this latest “comprehensive capital analysis and review” would include scenarios like a 6.9% to 8% drop in the U.S. economy, a 21% drop in housing prices, and the potential for 23.2 million people out of work!

Bernanke also asked the six top banks (JPMorgan, Bank of America, Citigroup, Wells Fargo & Co., Goldman Sachs Group Inc. and Morgan Stanley) to predict how much money they would lose in such scenarios.

The results are due on January 9, 2012.

 

What Economic Recovery? Editor says we were never in a Recession, we ARE in a Depression, big bank speculators to blame

“It is much worse than a recession, in fact it is even worse than a depression… The White House has told us we have been on a recovery…which is a complete lie.”-Edward Spannaus, Executive Intelligence Review

“…there will be no recovery…until we take steps to deal with the Wall Street gambling casino, the speculators, which is what is really killing our economy.”

“…shutting down the big speculator banks.  And the way to do that is by restoring Franklin Roosevelt’s law, the Glass Steagall law, which would shut down the gambling casino, wipe out the phoney debts, and that would enable us to get around to rebuilding our economy…”

“I question even the term ‘investors’ these days, because an investor is someone who invests for the long term.  And what you see today in these markets, is very short term speculation.”

“As long as these banks are sitting on huge piles of money, from bailouts, from the Federal Reserve giving them free money, and they’re just speculating with this, they’re not investing, not lending to businesses, they’re not doing anything to create jobs.”

 

What Economic Recovery? Main Street America in Depression, Child hunger and crime numbers prove it

“The State of America’s Children is absolutely horrific and what’s worst of all is that very few people in America know about this…added to this we’re going through what I call a Main Street Depression, it is worse than the 1930s…”-Stephen Lendman, commentator Chicago

The Annie E. Casey Foundation, a non-profit child advocacy group, revealed that 31 million children live in families that are one or two paychecks away from economic catastrophe.

The Casey Foundation’s study also found that between 2007 and 2009, 5.3 million children had to leave their homes due to foreclosure.

The Children’s Defense Fund echo’s the Casey Foundation’s report.  The CDF says the bad economy is driving up the number of children involved with dropping out of school, hunger, crime, etc, to record levels.

Many other organizations are coming up with corresponding data.

 

Quotes from the front line of unemployment

In June, the average amount of time a person is unemployed reached a record 39.9 weeks.

“We have had many, many months to stimulate this economy and still not seeing businesses hire, it’s a real concern.”-Frank Davis, LEK Securities

“I send out 50 to 60 resumes a week. Nobody ever gets back to you.”-Rob Attanasio, unemployed more than one year

“I feel washed out from the statistics, in terms of not being heard, in terms of the energy that it has taken for me to keep trying to find work. I don’t feel like I’m even on the radar screen in Washington.”-N. David Cooper, unemployed more than one year

“I’ve had nightmares about my family living on the street.”-Said Nasser, unemployed more than one year

“What we’re seeing here is a sort of settling into the reality of where things are, maybe not holding out as much hope as they once held out that there’s going to be a big recovery, and all of it is going to come back. Instead, people are looking around and saying, ‘Maybe this is going to be what it’s going to be.'”-Rusty Rueff, Glassdoor.com

“Your hope soars when you snag a job interview; then it’s dashed when there’s no job offer. Repeat this over and over again and you start to feel like it’s better not to get your hopes up.”-Fran Hopkins, unemployed more than one year

“It’s very hard when you’re over 60. Nobody wants us. We’ve just been leaving resumes, that’s it. You get no reply.”-Mary Kadin, unemployed since April 2011

 

What Economic Recovery? Mainstream Media Experts get it wrong, again. Job creation predictions way off

“Today, companies are producing more goods and services than ever before. The economy is able to do that with 7 million fewer workers. If we can do so much with so much less, where is the incentive to hire?”-Bernard Baumohl,  The Economic Outlook Group

For the past few days the stock markets have been going up (mainly those reported by the Dow Jones).  Some mainstream U.S. media outlets were saying it’s because of good jobs data.  It turns out their claims of good jobs data was based solely on “expert” economists, who were just plain guessing (like always).

Today, July 8, the U.S. Department of Labor released the official job hiring numbers for June, and boy are the “expert” economists way off.  The mainstream media had been reporting that “expert” economists predicted 120,000 people would be hired in June.  The actual number of people hired…18,000.   That’s a big difference.  It’s also clear proof that the U.S. economy is not recovering.

The job creation number is a “net” number, meaning it’s what’s left over after you subtract the number of people who lost jobs.  Another way to say it is that corporate america fired way more people than they hired.  And this has been going on for years now.

“We are backsliding. The chances are that we go into another recession or we muddle along at technical growth, but actually making no improvements as far as Main Street goes. The chance of one of those things happening is extremely high.”-Heidi Shierholz, Economic Policy Institute

How bad is the unemployment situation?  Officially 7 million people lost their jobs as a direct result of the credit crisis, which started in 2007/2008.  Today, officially there is still 6.3 million people with no jobs!   And by “officially” I mean those people who’re still counted by state and federal unemployment agencies, there are potentially millions who’re no longer counted.

If you notice I used two quotes from economist who seem to know what’s really going on.  I see many reports and comments from such economists, yet the mainstream U.S. media always goes with the “experts” who always get it wrong.

Why would the mainstream U.S. media continue to report faulty data?  Could it be because the mainstream U.S. media is not only traded on the stock markets, but is actually invested in the stock markets, so basically they’re scamming potential investors to give up their money to the biggest casino in the world, The Stock Market?

There are also those who believe the mainstream U.S. media is doing the bidding of the Federal government, in trying to make things look better than they really are, to try and prevent mass civil disobedience (like what’s happening in some European countries).

In any event, it is clear that you can’t rely on the mainstream U.S. media for “facts” about our economy.  And you can not use the stock market as a gauge for the performance of our economy.

The fact that 6.3 million people are still officially out of work, shows that after three years of promises about improving our economy, and claims that the recession is over, absolutely nothing has improved and many “Main Streeters” think we’re heading into a Depression.