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 Why isn't the U.S. economy in a depression right now? The number one reason is because the federal government has stolen more than five trillion dollars from future generations since Barack Obama was elected and has used that money to pump up our grossly inflated standard of living. Whether the federal government spends money wisely or foolishly, the truth is that the vast majority of it still ends up in the pockets of the American people who then use it to buy the things they need for their daily lives. If the U.S. government had not borrowed and spent an extra five trillion dollars that we did not have over the past several years, we would be in the middle of a rip-roaring economic depression right now. So any talk that Barack Obama is "improving the economy" is a total farce. It is a five trillion dollar lie. The reality is that Barack Obama and the U.S. Congress have been stealing trillions of dollars from future generations in order to make things tolerable in the present. If the federal government adopted a balanced budget next year, the debt-fueled prosperity that we are currently enjoying would start disappearing very rapidly and all hell would break loose in America. (Read More....)
 During an appearance on Meet The Press on Sunday, Jim Cramer of CNBC boldly predicted that "financial anarchy" is coming to Europe and that there will be "bank runs" in Spain and Italy in the next few weeks. This is very strong language for the most famous personality on the most watched financial news channel in the United States to be using. In fact, if Cramer is not careful, people will start accusing him of sounding just like The Economic Collapse Blog. It may not happen in "the next few weeks", but the truth is that the European banking system is in a massive amount of trouble and if Greece does leave the euro it is going to cause a tremendous loss of confidence in banks in countries such as Spain, Italy and Portugal. There are already rumors that the "smart money" is pulling out of Spanish and Italian banks. So could we see some of these banks collapse? Would they get bailed out if they do collapse? It is so hard to predict exactly how "financial anarchy" will play out, but it is becoming increasingly clear that the European financial system is heading for a massive amount of pain. (Read More....)
 The Federal Reserve says that everything is going to be okay. The Fed says that unemployment is going to go down, inflation is going to remain low and economic growth is going to steadily increase. Do you believe them this time? As you will see later in this article, Federal Reserve Chairman Ben Bernanke has been dead wrong about the economy over and over again. But the mainstream media and many Americans still seem to have a lot of faith in the Federal Reserve. It doesn't seem to matter that Bernanke and other Fed officials have been telling the American people lies for years. As I always say, most people believe what they want to believe, and many people seem to want to have blind faith in the Federal Reserve even when logic and reason would dictate otherwise. The truth is that things are not going to be getting much better than they are right now. When the next wave of the financial crisis hits, the U.S. economy is going to fall back into recession, financial markets are going to crash and unemployment is going to absolutely skyrocket. But you will never hear any of that from the Federal Reserve. (Read More....)
 For those waiting for our economic problems to be solved, you can quit holding your breath. There is simply not going to be a solution to our economic problems on the national level. So why is that the case? Well, it is because the economic policies of both major political parties are very, very similar when you take a close look at them. Yes, that statement may sound downright bizarre to many Americans, but it is true. Both major political parties supported the Wall Street bailouts, both of them fully support the job-killing "free trade" globalization agenda, both of them have dramatically increased the national debt when in power, both of them fully support the currency-killing policies of the Federal Reserve, and neither major political party would get rid of the income tax and the IRS. And that is just for starters. Yes, there are some minor differences when it comes to taxing and spending between the two parties, but the truth is that they are a lot more similar on economic issues than they are different. What we desperately need on the national level is a fundamental change in direction when it comes to economic policy, but we simply are not going to get that from either the Democrats or the Republicans. That means that there is no hope that the economic storm that is coming will be averted. (Read More....)
 Most Americans have no idea how much economic trouble is heading our way. Most of them just assume that everything will eventually "return to normal" just like it always has before and that those running our economy "know what they are doing" and that we should trust them to do their jobs. Unfortunately, these beliefs are being reinforced by the bubble of false hope that we are experiencing right now. For example, it is being reported that weekly unemployment claims in the United States have fallen to a four-year low. That is a very good thing. Let us hope that unemployment claims go even lower and that the current period of stability lasts for as long as possible. We should enjoy these last fleeing moments of tremendous prosperity for as long as we can, because when they are gone they won't be coming back. As I noted the other day, all of this false prosperity in the United States has been financed by the 15 trillion dollar party that we have been enjoying. We are adding about 150 million dollars to our debt every single hour so that we can continue to enjoy an inflated standard of living. Unfortunately, nobody in the history of the world has ever been able to keep a debt spiral going indefinitely, and our debt bubble will burst eventually as well. (Read More....)
 Do you believe that preppers are a few cards short of a full deck? Do you assume that anyone that is "preparing for doomsday" does not have their elevator going all the way to the top floor? Well, you might want to read this first before you make a final decision that all preppers are crazy. The information that you are about to read shook me up a bit when I first looked it over. To be honest, I had no idea how incredibly vulnerable our economic system is to a transportation disruption. I am continually getting emails and comments on my websites asking "how to prepare" for what is coming, so when I came across this information I knew that I had to share it with all of you. Hopefully what you are about to read will motivate you to prepare like never before, and hopefully you will share this information with others. (Read More....)
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19 Signs Of Very Serious Economic Trouble On The Horizon