The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

The Prepper's Blueprint

The Mystery Of The Shemitah
Don't Buy Survival Food Until You Read This - If you stockpile the wrong foods, you could be setting your family up to starve. It sounds harsh, but the truth is too many people with good intentions are making critical mistakes with their food stockpiles. Watch this video now >>
The End of Obama? Approaching Obama scandal could change the White House Administration and our country overnight... Click Here
Gold Buying Guide: Golden Eagle Coins

Archives

Young Living Thieves Oil Spray

Denial Is Not Just A River In Egypt: 10 Hilarious Examples Of How Clueless Our Leaders Are About The Economy

Barack Obama And Ben BernankeThey didn't see it coming last time either.  Back in 2007, President Bush, Federal Reserve Chairman Ben Bernanke and just about every prominent voice in the financial world were all predicting that we would experience tremendous economic prosperity well into the future.  In fact, as late as January 2008 Bernanke boldly declared that "the Federal Reserve is not currently forecasting a recession."  At the time, only the "doom and gloomers" were warning that everything was about to fall apart.  And of course we all know what happened.  But just a few short years later, history seems to be repeating itself.  Barack Obama, Federal Reserve Chairman Ben Bernanke and almost every prominent voice in the financial world are all promising that the U.S. "economic recovery" is going to continue even though Europe is coming apart like a 20 dollar suit.  But the economic fundamentals tell a different story.  Our national debt is more than $6,000,000,000,000 larger than it was back in 2008, the number of Americans on food stamps just hit another brand new all-time record, and the bankers up on Wall Street are selling gigantic mountains of the exact same kind of toxic derivatives that caused so much trouble the last time around.  But all of our "leaders" swear that everything is going to be okay.  You can believe them if you want, but denial is not just a river in Egypt, and another crash is inevitably coming.

Sadly, many Americans are not even going to see the crash coming because they still have faith in the "experts".  They haven't figured out that the "experts" really do not know what they are doing.

The blind are leading the blind, and in the end the results are going to be absolutely tragic.

The following are 10 hilarious examples of how clueless our leaders are about the economy...

#1 When I first came across the following chart the other day, it made me chuckle.  It is a chart that supposedly tells us the "probability" of a recession, and it was taken from the website of the Federal Reserve Bank of St. Louis.  According to the chart, right now there is a 0.16% chance of a recession...

Smoothed U.S. Recession Probabilities

#2 Federal Reserve Chairman Ben Bernanke has also been proclaiming his belief that the U.S. economy will continue to grow.  The following is an excerpt from his recent remarks to Congress...

The pause in real GDP growth last quarter does not appear to reflect a stalling-out of the recovery. Rather, economic activity was temporarily restrained by weather-related disruptions and by transitory declines in a few volatile categories of spending, even as demand by U.S. households and businesses continued to expand. Available information suggests that economic growth has picked up again this year.

And Bernanke also insists that the labor market is "improving"...

Consistent with the moderate pace of economic growth, conditions in the labor market have been improving gradually.

Of course the labor market is not actually improving.  I showed this using the Fed's own numbers the other day.

And you can put stock in Bernanke's forecasting ability if you like, but considering his track record of failure in the past, that might not be too wise.  Just check out what he was saying before the last financial crisis: "30 Ben Bernanke Quotes That Are So Stupid That You Won’t Know Whether To Laugh Or Cry".

#3 Although Bernanke has such a nightmarish track record of failure, Warren Buffett still has faith in him.  In fact, Buffett loves all of the money printing that Bernanke has been doing...

The U.S. economy might be “dead in the water” without the stimulus provided by the Federal Reserve under Chairman Ben Bernanke, according to Warren Buffett, CEO of Berkshire Hathaway.

“I think very cheap money makes things happen, it makes asset values higher. When asset values are higher, people do have a greater propensity to spend,” Buffett told CNBC.

“I think Bernanke has sort of carried the load himself during this period.”

If Buffett thinks the wild money printing that the Fed has been doing is so wonderful, then he probably would have absolutely loved living in the Weimar Republic.

#4 Barack Obama continues to insist that we do not have a debt crisis, but that we will not be able to balance the budget any time in the foreseeable future either.

Even though the national debt has grown by more than 6 trillion dollars under his leadership and our debt to GDP ratio is now well over 100%, Obama does not believe that it is a significant problem...

"We don’t have an immediate crisis in terms of debt"

And Obama certainly does not plan to even come close to balancing the budget during his second term.  In fact, he openly admits that we won't see a balanced budget at any point within the next decade...

"We're not gonna balance the budget in 10 years"

Sadly, the truth is that the U.S. will never have a balanced budget ever again under our current system, but most of our politicians are not willing to go that far and admit that sad fact to the American people just yet.

#5 But of course it would certainly help if the U.S. government would stop wasting so much money.  For example, did you know that the federal government is helping dead people get free cell phones?  The following is from a recent article in the New York Post...

Dead people don’t need cell phones.

That’s the message Rep. Tim Griffin of Arkansas wants to send Congress, after he says a controversial government-backed program that helps provide phones to low-income Americans ended up sending mobiles to the dead relatives of his constituents. Griffin has introduced a bill that targets the phone hand-out program, which has ballooned into a fiscal headache for the government.

And of course a lot of living people are abusing the free cell phone program as well.  Rep. Griffin says that he has heard of some people getting as many as 10 free cell phones from the government...

"I’ve also gotten calls from people who say their employees were bragging about having 10 phones."

#6 Meanwhile, the most prominent economic journalist in the United States, Paul Krugman of the New York Times, continues to insist that it is a good thing for the government to be running up so much debt...

First of all... that trillion-dollar deficit is overwhelmingly the result of a depressed economy. And when the economy's depressed it's good to run a deficit. You don't want the government to try and balance its budget right now.

Krugman is also operating under the delusion that the federal government "can't run out of cash", that it can just print money whenever it wants and that printing giant piles of money would not hurt anything.

The United States is a country that has its own currency--can’t run out of cash because we print the money. If you even try to think what would happen--suppose that investors get down on the United States. Even so, that would weaken the dollar, not send interest rates soaring, and that would be good. That would help our exports

It is frightening that the top economic journalist in America has such little understanding of how our system actually works.  I would encourage Krugman to read a couple of my previous articles so that he won't be so ignorant in the future...

-"Where Does Money Come From? The Giant Federal Reserve Scam That Most Americans Do Not Understand"

-"10 Things That Every American Should Know About The Federal Reserve"

#7 Many Americans have wondered why the federal government never seems to go after the big Wall Street banks.  Well, now we know why.  The other day, the Attorney General of the United States admitted that the federal government is very hesitant to prosecute anyone from the big banks because of what it might do to the global economy...

"I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy"

So I guess we now live in a world where there is a different set of rules for the big banks, eh?

Most of us already knew that this was the case, but it is quite chilling to hear the Attorney General of the United States publicly admit this.

#8 Many of the big Wall Street banks are absolutely giddy that the Dow keeps setting new all-time highs, and many of them are projecting wonderful things ahead for the U.S. economy.  For example, here is one forecast from Morgan Stanley's Vincent Reinhart ...

"In the Morgan Stanley forecast for the US, the trajectory of economic activity marks an inflection point midway through 2013. The severe financial crisis of 2008-09 necessitated significant downward adjustments by the private sector to the levels of aggregate demand and efficient supply. As the event recedes further into history, however, the drag on growth from these ongoing level adjustments plays out.

In our forecast, the expansion of real GDP steps up to around 2-3/4 percent in the second half of this year and beyond."

#9 Vice-President Joe Biden is pushing economic optimism to ridiculous levels.  Apparently he believes that most Americans are "no longer worried" that a major economic crisis is coming...

But all kidding aside, I think the American people have moved -- Democrats, Republicans, independents.  They know that the possibilities for this country are immense.  They're no longer traumatized by what was a traumatizing event, the great collapse in 2008.  They're no longer worried, I think, about our economy being overwhelmed either by Europe writ large, the EU, or China somehow swallowing up every bit of innovation that exists in the world.  They're no longer, I think, worried about our economy being overwhelmed beyond our shores.

And I don't think they're any more -- there’s no -- there’s very little doubt in any circles out there about America’s ability to be in position to lead the world in the 21st century, not only in terms of our foreign policy, our incredible defense establishment, but economically.

#10 Right now, many in the financial world are projecting that this will be a year to remember for the stock market.  During a recent interview with Fox Business, Wharton School of Business Finance Professor Jeremy Siegel declared that the Dow will cross the 16,000 mark by the end of this year...

"I think by the end of this year, we’ll be in the 16,000 to 17,000 range."

Of course it is true that other analysts have a much different view of things.  Many of them are absolutely amazed that the U.S. economy has become so disconnected from economic reality.  For example, just check out what Steve Russell and Hamish Baillie, fund managers at the Ruffer Investment Company, recently had to say...

"If this was explained to a recently arrived Martian he would no doubt be puzzled – US unemployment has almost doubled since 2007, GDP [gross domestic product] growth is a third lower and debt as a percentage of GDP is within a whisker of doubling. The market is forward looking but this is extreme"

So who is right and who is wrong?

Time will tell.

Fortunately, it appears that the American people are getting fed up with the constant stream of lies that they have been told.

According to a new Pew Research survey, just 26 percent of all Americans trust the government to do the right thing.

So what about you?

Do you trust what the government and the "experts" are telling you?

Do you trust them to do the right thing?

Feel free to post a comment with your thoughts below...

LOLCat - Photo by Koruko

Be Sociable, Share!
  • Chris

    There comes a point when you just can’t believe that all this is due to incompetence or complacency. These are smart and very devious people who are running the show. Do you really think that they don’t know what’s going on or how bad things are or how we got into this mess? It has to be deliberate.

    • piccadillybabe

      You have a point. They are just waiting for people’s retirement funds to rise again to new levels of pseudo-wealth so they can crash the markets and say oops! Not to mention the loss to new home buyers. I often felt it was all fabricated by the banksters and mobsters.

      • MotorTrash

        What do you mean when you say “the loss to new home buyers”? Thanks,
        Kevin

        • piccadillybabe

          Some banks are giving money away again with little down and because some feel we are out of the woods, they are buying into the scam all over again (subprime mortgage) and buying beyond their means.

          • Hawaiianfive0

            I was thinking the same thing that this is happening again…maybe not on as large of a scale as before, but I have seen prices in my area go up again where they shouldn’t be, so when this next housing crisis hits and we see more foreclosures again I am wondering how much the prices of homes are going to drop again. In my area it was totally messed up and still is and seems to be way out of line now and some just keep getting higher. What do you think is going to happen to the interest rates? Do you think they will still be low after another housing crisis hits? At what point to they start to rise or will that not happen until after a collapse? I still hear people that think that everything is fine and the housing crisis is over. It just seems right now everything is in a repeat just before what happened in 2008, but it’s going to be different this next time.

          • Mondobeyondo

            “It’s deja vu all over again” – Yogi Berra

        • http://twitter.com/Druannawow Druanna

          Remember the housing bubble? Remember the crash?
          Go to a major news site and watch the President’s State of the Union speech from a few weeks ago. He clearly says he wants to do that all over again.

          Bernanke is pumping $4T into the markets each month and banks are once again being “encouraged” to hand out sub-prime mortgages like candy.

          Can’t have Bernanke’s monetary bubble sitting there all by its lonesome. Let’s add another housing bubble to the mix, so this time when the bubbles crash it will be *total* destitution, and the govt can come rushing in to the rescue with full nanny-statism.

          • merry529

            Kaitlyn. if you, thought Kevin`s artlclee is great, last wednesday I got a great Chevrolet Corvette after having made $8405 thiss month and-more than, ten grand this past month. it’s by-far the most financially rewarding I have ever done. I actually started six months/ago and right away started to bring home at least $75 per/hr. I use this website, jump15.comCHECK IT OUT

          • Brenda Thompson

            If you think Marvin`s story is surprising…, in the last-month my uncle’s girlfriend basically made the small fortune of $5475 putting in a sixteen hour week from there apartment and the’re best friend’s step-mother`s neighbour has been doing this for six months and got over $5475 in their spare time at Their laptop. follow the steps at this site… jump15.comCHECK IT OUT

    • markthetruth

      The ones who created the Puzzle already know what the outcome will look like.

      the end…

    • 2Gary2

      agreed–the politicians represent the 1% and could care less about the rest of us.

      • interestedobserver2

        As long as the “1%” you mean is them– they don’t care about anyone except themselves and their power.

    • Jay Clayton

      The egomaniacs just believe they can deceive us dummies and talk the economy into growth. If that was true, we would have went into a lot of dept in 2012 Q4 and 2013 Q1 to buy crap we can’t afford to boost the economy.

      Oh, wait a second.

    • Blackhawk

      You’re absolutely right to think these guys are deluding themselves in believing what they saying. They are only talking heads which help their masters in organizing the biggest hist in the history. It is same old same: PUMP AND DUMP at work here.

    • Mondobeyondo

      It IS deliberate. They know what they’re doing.
      You don’t get into Ivy League schools by being stupid.

    • basnas

      Correct! When i read that these people dont know economies it’s very sad that they do not understand the reality that this is being done purposely. The people the sheeple see on TV and think are in power are puppets doing the bidding of an age old blueprint dating back centuries. Try to explain that to a soccer mom or joe six pack. i’ve tried…cant help them when the they pull the plug.

    • Boo-urns

      I think you are absolutely correct. Historically the wealthiest people in this country have made the bulk (if not the entirety) of their fortune during depressions, recessions and other economic hard times. The difference this time around is the people who are going to most benefit are the ones who can most control the situation to their advantage.

  • Joeyjoejoe

    It should be interesting watching it all unravel. The “experts” are just the guys who believe their own PR. The article I want to read / or book, is how the financial market will crash. Will it happen over the course of a few hours, or will we jump the shark and then fade into irrelevancy on the world stage over 20 years?

  • http://www.facebook.com/gregge.k.johnson Gregge K Johnson

    A lie is just as good as the truth,if you can get 26% of the people to believe it

    • Penny Pincher

      Why 26%?

  • Jodi

    Does anybody seriously believe the Dow is going to do well the rest of the year? I believe it’s going to crash sometime within the next 6 mos. Am I alone?

    • Tim

      It’s impossible to say. I mean, it seems that The Powers That Be have been able to defy the laws of economics. It’s truly mind-boggling.

      • Jodi

        Yeah, It’s unbelievable. Let’s hope we have more time.

    • CRAT

      I certainly would not make financial decisions based on the belief the market will crash in the next “x” months. It seems the best prognosticators have been wrong for many, many months now. it seems surreal, but our corrupt and kleptocratic govt. officials have kept the charade going an awful long time, here and also in Brussels.

    • http://www.facebook.com/profile.php?id=1381717510 Chris Jaynes

      I’ve been thinking it was going to crash for 2 years nearly and it hasn’t. I can’t believe it has sustained the rebound from 2009 this long. The higher it goes, the worse the fall.

    • markthetruth

      Well The question is :

      Do you Believe what you Read or
      Read what you Believe ?

      the end…

    • afchief

      It will stay high until the Fed stops printing money.

      • BB

        The Fed Doesn’t just print money. It creates credit and does print cash, but every cent of that is counted as an asset to members of the Federal Reserve, a consortium of privately held banks, and a debt to the U.S, and its citizens. This is a swindle, a scam, a 3-card monte game. It’s been going on since 1913. You could read main stream press and watch TV until your eyes fall out, and learn NOTHING about this crime. Oy vey!

    • Mondobeyondo

      No, you are not alone. (Struggling to resist the urge to quote a certain Michael Jackson song.) The stock market is going to crash. No one knows when, but October seems to be a popular month for financial mayhem, so it may happen by October of 2013. The smart people know it, and are slowly getting out. The greedy, and frankly stupid people are jumping in. These people, if they don’t get out in time, will lose their pants and shirts, and their underwear too. Truly, these “emperors” will wear no clothes. Just like in 1929.

  • Jim from West Virginia

    Right before the stock market crash of 1929, President Herbert Hoover declared that the market was in good shape. The politicians and financial pundits lied. So what else is new? What I’d really like to know is why Americans love to trust KNOWN liars – whenever these liars tell them something that sounds good – Jim from West Virginia

    • Jay Clayton

      Right on Jim.
      When there is a frenzy of “everything is WONDERFUL, the best yet, so good”, it is a call to be scared.
      People do want to be lied to – that’s how most sales transactions are completed: You deserve this, You can afford it, You look great in this car/dress/hat, Nothing bad is going to happen if you go into debt…

  • Johnny Smith

    Maybe Bernanke is so stupid he thinks that debasing the currency is OK. I think Obama knows the end game and is stock piling weapons for if/when SHTF.

    • arizonadiane

      And that may be why he is a do nothing president. My way or the highway.

    • Mondobeyondo

      Bernanke can’t possibly be that stupid. Crazy, yes, but stupid – no.

  • Tim

    “Sadly, the truth is that the U.S. will never have a balanced budget ever again under our current system, but most of our politicians are not willing to go that far and admit that sad fact to the American people just yet.”

    I wholeheartedly agree. The budget deficit for February alone was over $203 billion. The cumulative deficit for the first five months of the current fiscal year is $494 billion! So we’re already at half a trillion dollars and we’re not even halfway through the fiscal year. Amazing.

  • Mike

    The numbers do not lie:

    2012 Federal revenue: $2,468,000,000,000

    2012 Federal budget: $3,820,000,000,000

    2012 New debt: $1,352,000,000,000

    National debt: $16,350,000,000,000

    Interest paid on National Debt in 2012: $220,000,000,000

    Proposed 2013 sequestration spending cuts: $ 85,000,000,000

    Let’s drop a whole bunch of zeros from those figures to make the federal government’s ledger look at least little more like a typical household’s finances:

    2012 Household income: $24,680

    2012 Annual household expenditures: $38,200

    2012 Credit card debt: $13,520

    Outstanding balance on the credit card: $163,500

    Annual interest on credit card debt: $2,200

    Proposed 2013 spending cuts: $850

    Now, what would you do if your household balance sheet looked like that? Well, that is exactly where we are at.
    Yep…everything is just dandy Mr. Biden.

  • Ralfine

    70% of Americans don’t care about anything anyway.

    And 30% vote those into power that created this mess in the first place.

  • RICHARD

    I have said it before and I will say it again. We are the 4th Reich of the 21 st Century, and it will not end well.

  • Syrin

    But here’s the worst part. These idiots share their idiocy with our clueless no information populace, and they produce new GARYS daily who have no earthly understanding of anything they speak about, yet they are loud, violent and rude while simultaneously being stupid, misinformed, and clueless. 80% of NYC graduates are too illiterate to function at a community college level, yet these are the people who listen to Jon Stewart, Ben Bernanke, and tell us the solution to creating jobs and grow the economy is to have the gov’t forcibly take away more money and capital from businesses and citizens. These are idiots of a level hardly ever before seen. We need new words to describe this level of economic illiteracy.

    • RealityBetraysUs

      Professing themselves to be “wise” they became “fools” and exchange the truth of God for a lie…when you see good being called “evil” and “evil” being called “good” you know that
      God’s judgement and wrath on our corrupt system is just around the corner….

  • K

    Anyone who believes anything the Government says at this point. Has to qualify as mentally ill. Do I think that what is going on is a plan of the rich and the Government, yes I do. If you believe that they therefore must know when the crash is coming. Then you can tell by the action of these two groups, how close the crash is. The rich are buying bunkers and retreats in remote locations. The rich are buying ocean going yachts, in unheard of numbers and sizes never seen before. Finally the rich are moving to countries who will be least affected by a crash. The Government (DHS) is buying up 2 billion rounds of ammunition. They are also buying up 11,000 thousand fully automatic weapons. Increasing the number of drones flying over the U.S. Most of which can be armed. And yes 2700 armored personnel carriers for use in the U.S. Now when you look at all these facts, I can only conclude. That the rich and the Government are preparing, for very large scale civil unrest. Outside of an economic collapse. I can think of nothing else, that would cause that level of unrest.

    • maby123

      I am observing lot of police moving everywhere its worry ,never see that before its like if something is going on, here in miami.

      • K

        I know Miami Beach, was a location of one of their drills. I think it was about a month ago. Houston and LA also. It is just drills at this point. No need to worry yet. However if problems do start, FL. would not be a good place to be. The Federal presence is massive. Especially S.FL.

  • r.bitting

    Michael, I read your articles all the time, and although I very rarely comment anymore, I did want to thank you for your work here. It was through your blog over a year ago that I met a wonderful family from another part of the country , we have since become very good friends. They share my faith in Jesus Christ and concern for the times in which we live. I have to believe that others have forged lifelong friendships here as well. Again, thanks for your work and introducing me to some new friends. . . God bless.

    • MichaelfromTheEconomicCollapse

      That is very encouraging to hear. I love that this website is helping to bring people together.

      And I apologize that I have not been writing as much the past couple of months. My book is almost done, and I am really hoping to have it out next month.

      Michael

      • Bruce

        Michael, never mention your book without mentioning it’s name. I’d buy it but have no idea of it’s name or subject.

    • kathy k

      Miss you r.bitting I always enjoyed your great Christian comments hope all is well God bless you.

      • r.bitting

        Ditto Kathy, God bless you and your family.

  • Tosheba

    These psychopaths are not ‘clueless’; they know exactly what they’re doing and really don’t care. This makes them especially troublesome.

    • RealityBetraysUs

      In regards to a radio show I heard it said by Mr Lindsey Williams (worked with oil co’s as a pastor), the people pulling the strings and literally running the economy(Illuminati), they have no moral code to follow other than that of “if we told you so, then you have no excuse because we did warn you”.In other words they feel justified in doing whatever crazy things they want merely because they gave us a forewarning before they went ahead and did them!This is like a madman taking pot shots with a rifle claiming “look out I’m going to hit you!”

  • VilePig

    RE: “If Buffett thinks the wild money printing that the Fed has been doing is so wonderful, then he probably would have absolutely loved living in the Weimar Republic.”

    When Buffett bought BNSF Railway in late 2009, I knew this was coming. He was putting his money into hard assets (in this case, a railroad) that couldn’t be devalued by money printing.

  • markthetruth

    “Doom and Gloomers”

    The Fact that they Paint the “Doom and Gloomers” on Persons that can see that something isn’t right. If you where in Vietnam and your in a Company of 30 Brave Soldiers where sent on a mission and you see 20 get shot down Because of a expected ambush by a misinformed size of the enemy troops. and your not High or Brain Washed, i can’t see a positive Outlook or Chance of surviving i would be on the Radio Screaming for Backup,Tanks, Air Support , everything. Screaming Doom and Gloom.

    God Bless our Troops!

    the end…

  • Sammmy

    If all our dear leaders were merely inept then there would be at least 1 or 2 things that could be shown to be beneficial for the economy. That is 180 degrees from our reality. 5 years of no budgets (thanks Harry) has allowed for freewheeling spending and has forced the House to approve money already squandered in an unplanned and hap-hazard manner. Krugman and O’s claim that the debt doesn’t matter is 100% right in a perverse universe because it CAN’T be repaid. So if your not going to pay your bills, what’s the difference if you stiff the world for 100 or 300 trillion? ( 220 trillion + is about the bulk of what we owe, counting unfunded liabilities!) To para phrase Keynes, We’re all dead.

  • common sense

    We’re living on Planet Ponzi but we’re suppose to be too dumb to know it. [My apologies to the author of the book Planet Ponzi]

  • 2Gary2

    and yet we have the wonder boy paul lyin ryan with a budget based on repealing Obamacares. What part of you lost don’t these stupid republicans get?

    I think Lilly and Herman need to take little eddie back home.

    • Robert (qslv)

      Gary, you have an appointment with Obamacare’s death panel. They want to know how much tax you’re paying this year and if they need to check the “DNR” box on your insurance card.

  • Jay Clayton

    Just like a physical bubble, a financial bubble expands quickest just before it bursts. That’s because the normal constraints are no longer controlling the rate of expansion.

    People stop looking at traditional measures of economic strength and only look at “the market’s growing fast – I should jump in!!” This Ponzi scheme effect almost guarantees a massive collapse.

    The dramatic drop of people employed, the rapid expansion of debt of our country and families, and a shrinking economy are all yelling “BEWARE BEWARE – a collapse is around the corner.” But no, we will invest according to the greater-fool theory – if I can just have enough fool’s follow their bad money after mine, I can get out early and get rich from the greater-foo.

    Any bets on WHEN the market correction will hit? June???

  • http://www.facebook.com/john.nikson.9 John Nikson

    I had been thinking about failure of USA strategy only in International manner,, seems like USA is failing in its Internal things too particularly of its most important economy matters !
    One of its biggest failure is they spent over $1 trillion on war on Iraq, Afghanistan,, but got nothing but few oil fields in Iraq,, Total loss of money n failure of Strategy.,, which has great Impact on its own economy ,,

  • Hans

    Your burning ship is holed below the waterline. The bulkheads have lost structural integrity. It is being refuelled with highly inflammable fiat money and the capain ordered full steam ahead. It actually appears to pick up speed. The officers say all is fine.

    I hope you manage to get off before it hits the bottom!

  • Zoltanne

    “Our leaders” are not clueless. Laugh at them if it helps to justify their actions but Bernanke and Buffet have both been education in math, business, and economics. They KNOW what is going on but use theory and ideology to promote the current chain-of-events and mold our economy to perform as is expected of them.

    Now Biden? He deserves to be laughed at.

  • stymie

    “Can’t run out of cash”, but we can, and will, run out of confidence that the cash has any value.

  • XSANDIEGOCA

    A collapsed economy would benefit Obama greatly. The ensuing chaos and civil unrest would allow him to declare martial law. I fear the worst. Buy Gold while you can.

  • concerned citizen

    “If you could print a $100 bill for a nickel would you be in debt??? What are they doing up in Washington??”

    According
    to Discovery documentary on money, it only costs a nickel to print a
    hundred dollar bill. So nobody I know can answer the above question.
    Personally it seems to me if the gov did not have to pay interest on it,
    the debt could be resolved. It would only cost a couple hundred billion
    to print up the $4 Trillion annual Obama budget then. Thanks….

    • http://twitter.com/Druannawow Druanna

      Concerned, you can’t simply print your way out of debt. This isn’t a Monopoly game (although they’re treating it like one).

      Every time you print a new $100 bill, the value of all of the current $100 bills in circulation goes down.

      People don’t easily understand that, so put it this way:

      You have a rare car, built by, say, Shelby. As far as you or the world knows, it’s the only one he ever made. Because it’s so rare, it’s worth a million dollars.

      Then someone announces that they’ve found another identical car in a farmer’s barn out in Texas, in pristine condition!

      Now there’s two of these cars, and yours isn’t so rare or special anymore. Your $1M car just got devalued to $500k.

      Then another one is found, this time in Arizona, where the dry heat has kept it showroom-new.

      The rarity and value of the cars is further devalued; they’re each worth about $300k now.

      The story about these 3 amazing cars makes the news, and Germany takes notice. In a glittering, vivacious press conference, Volkswagen unveils an entire air hanger full of these “rare” cars. Turns out Shelby worked with VW to help them make their cars more aerodynamic, and while he was working with them, over 1,000 of the cars were manufactured. Due to the political atmosphere, though, they were held back from the market, and five years later Shelby had released his Cobra which was all the rage. VW mothballed its fleet of cars, thinking they were obsolete, but could be used in the future for scrap metal.

      So now there are 1,003 of those “rare” cars. Not so rare anymore. The value has dropped significantly… your car that was worth a million dollars is now worth a bit less than $1,000.

      That’s what is happening to our currency, to the value of our dollar.
      We have a set amount of currency in circulation, which sets the value of each dollar bill.
      When more dollar bills get printed (either physically or digitally), the value of all the dollar bills in circulation goes down.
      When there’s only 10 bills in circulation, one of them will buy a huge estate with a mansion.
      When there’s trillions of bills in circulation, one of them won’t even buy a loaf of bread.

      You cannot print your way out of debt. Every bill you print devalues your currency and lowers the buying power of every bill in circulation.

      Research more about inflation, devaluing the currency, and how much the value of the dollar has declined since we came off of the gold standard. Keep the car example in mind, and it’ll make it easier to understand.

  • sharonsj

    Could one of those people with ten free phones send me one? Gee, I’ve tried to get one for years since I’m old and disabled and I can’t get any. Either I’m doing something wrong or that congressman is a big fat liar.

  • Washington76

    If There’s No Inflation, Why Are Prices Up So Much? By Michael Sivy March 12, 2013

    http://business.time.com/2013/03/12/if-theres-no-inflation-why-are-prices-up-so-much/

    • RealityBetraysUs

      We pay double the price for all oil products compared to the beginning of 2000′s. If you have not noticed then you don’t buy oil, nor energy.

  • disgraceful

    Mark Twain summed it up best,

    “It is easier to fool people, then to convince them that they have been fooled”

  • Jimmy Lightsey

    Nothing I say matters, for I am retired for health reasons. I am what they call a taker for using my hard earned tax dollars to get from one payday to the next as it is doled out to me as they(Gov’t)see fit. The rich get richer as the poor get forgotten about, which is just the “nature” of things. We know how hard “nature” can be to change. If Gov’t thinks poor people don’t matter, they should just give us about 10% of what they waste every year on programs that don’t work and peoplke that don”t like us and see what happens.

  • http://www.facebook.com/people/Joe-Palladino/100001624813101 Joe Palladino

    It’s quite clear that communists, socialists have overtaken the government on every level in this country with the explicit intent of destroying the American capitalist system (what’s left of it). Anyone who doesn’t see this, simply isn’t paying attention or doesn’t care. Just read up on the Cloward – Piven strategy, that’s what’s going on.

    • http://www.facebook.com/people/Sean-Dion/100001763278600 Sean Dion

      America is a mixed economy that has been swinging leftward for the past 100 years. The “progressive” era of egalitarian socialism has just begun. With both major political parties completely co opted by radicals I really don’t see a shining light at the end of this dark tunnel.

  • http://www.facebook.com/people/David-Webb/100001371414176 David Webb

    My good friends in the Jewish Community here have it right. They teach their children skilled professions and trades. They invest in talent. In things that they can sell to the world to make a living no matter what happens.

    This is because no matter what happens, these people land on their feet. They have historically had to move more often than any other people on the face of the Earth. A lot of them were there when the German Currency died in the 20s. Now some of them are 100 years old or more.
    The lesson is to educate your children in a manner that no matter what happens they have something to sell to the world.

    They also have a specific diet. That diet leads to longevity. It is spelled out in their scriptures. We would be wise to follow it.
    I was there after the South Korean Currency went bust in the 1960s. The people that invested in warehouses became wealthy. They invested in commodities. The rest of the population faced financial ruin for a while. Eventually the economy recovered. It took the fall of a government to do it.

    Anyone that invests in Gold should take a long hard look at what happened to the Hunts family fortune when they tried to corner the silver market. The government stepped in and ruined them. I suggest our government will do similar things in times of stress. So if you are heavily into Gold I suggest that you go to a country that won’t steal it from you.
    If you hoard food, keep it to yourself. The government also has taken steps to steal your food if it becomes necessary.
    Yes, martial law is being prepared for. The problem is how do you pay military with a currency that has folded? You think they work for nothing? They are professionals. Professionals work for pay.
    I suggest the government will declare bankruptcy. Then they will start over with a new currency. But that means the old currency will have no value after a certain date of exchange. Most of what I have described has happened over and over again in many countries that didn’t manage their money right. It is nothing new. But it is new here.

  • 2Gary2

    Perhaps someone on this site can explain this to me. It is a copy of an e-mail I sent to a friend. It was based on how someone could be so stupid to vote for Paul lyin Ryan but it could be expanded to other states/people/voting.

    I unfortunately live in Ryans district and he is my representative. The state repubes have gerrymandered the dist so it would be harder for him to loose. Rob Zerban who ran against him did very well. Here is the problem- There are a lot of low information voters who vote republican
    even though it hurts them financially.

    Here is an example–I am over at my in laws and they are complaining about the waiting list for state badger-care (medicaid for the poor in WI. My in-laws are very poor) and are complaining about how little they can qualify for for food stamps yet they voted for Walker and Ryan. When I pointed out the utter
    stupidity of them voting for these MF as they are the reason these programs are in such bad shape they said and I quote” Well at least they are against abortion, I do not want to talk about it anymore”

    Talk about cognitive dissidence! I really do not know how one fixes such stupidity?

    Please do not kid yourself to think abortion will ever be illegal. That ship sailed long ago. I see these conservatives like paul lyin ryan duping these low info fools by saying he is against abortion which he has to know will never be illegal. The silly little social conservatives will be (and have been in the past) quickly thrown under the bus by the 1% who the republicans really represent (as do the dems but to a lesser extent)

    So really please help me to understand my in-laws. They are not bad people just dumber than a sack of rocks.

  • 2Gary2

    Why are so many Washington officials obsessed with budget deficits? And
    why are they so willing to entertain big cuts to social programs such
    as Social Security, Medicare, and education, while being reluctant or
    outright unwilling to increase taxes on the highest income earners? The
    answer cannot be that most Americans want these choices. Survey after
    survey shows that large majorities support asking the wealthiest to pay
    more in taxes and want to maintain or increase spending on Social
    Security and federal health and education programs.

    As I have been saying most everyone says–TAX THE RICH

  • 2Gary2

    Michael–you must be wealthy then as you keep going on and on about the deficit while the vast majority could care less.

    On Key Budget Questions, the Wealthy Have Distinctive Priorities

    The wealthy respondents to our survey expressed great concern about budget deficits:

    Fully 87% called deficits a “very important problem” facing the
    United States, more than attributed such importance to unemployment,
    education or anything else on a list of eleven potential national
    challenges.

    On an open-ended question that asked respondents to name the
    most important problem facing the country, a hefty 32% of the wealthy
    mentioned budget deficits or excessive government spending, far more
    than cited any other problem.

    Only 11% of the wealthy mentioned unemployment or education as America’s top problem.

    Wealthy respondents tilted toward cutting back – rather than
    expanding – federal government spending on Social Security and health
    care.

    By contrast, in a national survey taken about the same time as our
    survey, only seven percent of all Americans mentioned deficits or the
    national debt as the most important problem, while 53% cited jobs and
    the economy as the top problem. Average Americans also leaned toward
    expanding rather than cutting back on major federal outlays for Social
    Security and health care.

  • Mondobeyondo

    If I were a betting man (which I’m not anymore, because I have no money), I’d catch the next flight to Las Vegas, head over to Caesars Palace and make a 2-1 bet there will be another recession in the next 5 years. And no, the casinos didn’t take it all. The utilities, city government, state government and Food City took it all.

    There may be some semblance of job growth (ha!) – but there is no real “career” growth. Auto worker = career. Steel worker = career. Fry guy at Burger King = not a career. If everything you earn is going towards the bare necessities, there’s nothing left over to support the local economy, or national economy for that matter. The economy withers. Everyone suffers.

    That’s where we’ve been, that’s where we are, and that’s where we’re headed. We are headed towards another recession, if we’re lucky. I personally think it’s going to be worse.

  • Mondobeyondo

    Dow Jones headed for yet another record breaking day! Wow, that QE3 heroin is really kicking in now…..

  • cpgone

    Great article.

    Still cant share via yahoo or a simple “send to a friend” the way ZH does.

  • interestedobserver2

    It’ll be “a year to remember,” all right — much like 1929.

  • John

    I fall off my chair laughing when I hear so called experts refer to Ben Bernanke as self delusional or ‘he doesn’t know what he is doing’ He and the board of governors know exactly what they are doing. I suggest people view the video ‘ The secret of Oz ‘and then decide whether central bankers know what they are doing ! It certainly is NOT in the broader long term public interest.

  • 2Gary2

    The whole Obama phone thing is false. it was started under Reagen and it is for the elderly/disables to have a “lifeline” connection. You conservatives are so low info.

  • http://www.facebook.com/profile.php?id=100000633875894 Randy Townsend

    I disagree with your post entirely. The fed/prez ABSOLUTELY know what is coming. They are intentionally misleading the public out of fear of a reprisal by the masses because the government knows it is past the point of being “fixable”. This explains not only the lies emanating from the MSM, but also the massive and unprecedented purchase of weapons and ammo by the feds. They understand full well not only what is coming, but how bad it will be and the response by the public once it sinks in how much the government has been not only lying to them, but also facilitating the ruse for several years. The currency will deflate quickly, resulting in a poor population that is angry enough to pose a threat to the government. They ABSOLUTELY know what is coming.

  • Oil exectutive

    I would like to know why the author of this site never mentions peak oil? The root of all the economic problems. Is he one of those deniers? Does he believe that shale oil will save us and magically make up for production declines of conventional oil? I would ask him myself but he makes it impossible to actually leave a comment in his contact page. Perhaps this guy is another shill like Alex Jones

  • Groundgrubber

    The Neo-Stock Market – the mechanism for strip mining a national economy for the vested interests at the center of Govt.

  • http://twitter.com/Druannawow Druanna

    It’s not that they’re clueless; far from it.
    It’s that they’re keeping the public clueless by releasing disinformation and purposely skewed numbers.
    A clueless public is a public that isn’t panicking in the streets and calling for politicians’ recalls.

  • llc

    Time is short ( the signs are all here) Thank you Michael for your articles. You are definitley God’s messenger

  • Hank

    No, they are not clueless. They know exactly what they are doing. This is Obama`s plan. He wants to systematically collapse the U.S., so they can usher in their One World government, and Obama can rule as a dictator.

    • UpChuck.Liberals

      Putin won’t let him. To Putin, Barry is nothing more than a useful tool, a dupe.

  • http://twitter.com/JailBanksters JailBanksters

    It appears all these “experts” are just ignoring the obvious thinking that the Insane Economy A.K.A. the US Economy will eventually sort itself out. All you have to do is give it enough rope. I liken it to filling up a bucket with a hole in the Bottom. You have to keep pumping more water into the bucket to keep up with the water falling out the bottom. The more water goes in, the bigger the hole in bottom gets. Sooner or Later you have to pay the Water Bill.

  • UpChuck.Liberals

    Here is a saying that most in this Administration and those financial geniuses SHOULD be using…”If you can’t dazzle them with brilliance, baffle them with Bull $ Hit”.

  • http://www.facebook.com/anna.krutitskaya.3 Anna Krutitskaya

    In Feb 2012 you published an article 10 Things That Every American should know. Searching for some information I’ve bumped into this article. My question: on which ground do you make your conclusions about high foreign weight in those main members of Fed Res? It’s not that I disagree but there should be a tangible basis. For example, here’s the quote from another source “Are these eight banks on Mullins’ list of stockholders owned by
    foreigners, what Mullins termed the London Connection? The SEC requires
    the name of any individual or organization that owns more than 5 percent
    of the outstanding shares of a publicly traded firm be made public. If
    foreigners own any shares of Mullins’ eight banks, then their portions
    are not greater than 5 percent at this time. With no significant
    holdings of the major New York area banks, it does not seem likely that
    foreign conspirators could direct their actions.” And this gives a logical argument. It would be extremely helpful to hear your thoughts.

  • http://www.facebook.com/anna.krutitskaya.3 Anna Krutitskaya

    why my comment has been deleted?

Emergency Essentials/BePrepared
Agora Financial
Thrive Life
FEMA Hates This

Austin Coins
Family Survival Plan - Check This Out!
High Blood Pressure?
The End Of America?
MHAdNew_125x125 copy(1)
FINCA BAYANO
Survive After Collapse

Silver.com

Camping Survival
GunMagWarehouse.com
Facebook Twitter More...