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 It is incredibly hard to put into words the absolute horror that is happening in the Gulf of Mexico right now. The millions of gallons of oil that have gushed into the Gulf of Mexico and BP's efforts to fight the massive leak are turning the Gulf into a lifeless toxic stew of oil and chemicals. The damage caused to wildlife in the Gulf by this spill will be incalculable. Entire species are at risk of being wiped out. Scientists are telling us that the primary dispersant being used by BP ruptures red blood cells and causes fish to bleed. This is by far the greatest environmental disaster in U.S. history, and there is no end in sight. It is a worse environmental and economic disaster than all of the hurricanes of the past ten years combined. The great wetlands and beaches along the Gulf of Mexico will never be the same in our lifetimes. The seafood and tourism industries in the Gulf are being completely destroyed. The thousands of jobs and businesses being wiped out by this disaster could potentially throw the entire Gulf coast region into a depression. The damage already caused by this oil spill is beyond measure and yet the government tells us that up to 19,000 barrels (798,000 gallons) of oil a day continue to flow into the Gulf of Mexico. (Read More....)
 Do you know if your bank will be there next month? For a growing number of Americans, that is becoming a very real question. The Wall Street Journal is reporting that 775 banks (approximately ten percent of all U.S. banks) are now on the Federal Deposit Insurance Corporation's list of "problem" banks. This year we have already seen more than six dozen banks fail, and the frightening thing is that we are seeing a rapid acceleration in bank failures even though we are supposedly in a "recovery" right now. So what happens if the economy takes a bad turn and hundreds of these banks that are barely surviving start failing? (Read More....)
 Could the world economy be headed for a depression in 2011? As inconceivable as that may seem to a lot of people, the truth is that top economists and governmental authorities all over the globe say that the economic warning signs are there and that we need to start paying attention to them. The two primary ingredients for a depression are debt and fear, and the reality is that we have both of them in abundance in the financial world today. In response to the global financial meltdown of 2007 and 2008, governments around the world spent unprecedented amounts of money and got into a ton of debt. All of that spending did help bail out the global banking system, but now that an increasing number of governments around the world are in need of bailouts themselves, what is going to happen? We have already seen the fear that is generated when one small little nation like Greece even hints at defaulting. When it becomes apparent that quite a few governments around the globe cannot handle their debt burdens, what kind of shockwave is that going to send through financial markets? (Read More....)
 Today, the number of Americans who are able to financially survive without any reliance on the U.S. government whatsoever is declining at a staggering rate. Whether it is through direct handouts, entitlement programs, student loans, government bailouts, government contracts or direct employment, the truth is that now a solid majority of the American people are at least partially dependent on the federal government for their economic survival. The sad thing is that the majority of the American people say that there is too much government in their lives when opinion polls are taken, but if you try to take the government check that they are getting away from them those same people will scream bloody murder. But the truth is that it is getting to be really, really hard to be completely independent of the U.S. government economically. That is because the U.S. government has their hands in almost everything. The ideal of a "limited federal government" has long since faded away. Very few people seem to believe in it anymore. Instead, Americans today look to the federal government as the answer to all of our problems, as the provider of all of our needs, and as the regulator of every single detail of our lives. (Read More....)
 Most Americans have no idea what the term "Keynesian economics" means, but the truth is that it has been deeply influencing U.S. economic policy for decades. Essentially, it is an economic theory that originated with a 20th century British economist named John Maynard Keynes, and it advocates government intervention in the economy in order to smooth out economic cycles. The general idea was that lower interest rates and increased government spending could be used to increase aggregate demand when the economy was experiencing a downturn, thus increasing economic activity and reducing unemployment. (Read More....)
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The Depression Of 2011? 23 Economic Warning Signs From Financial Authorities All Over The Globe