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 Very few things illustrate how dramatically America has been deindustrialized than the stunning decline of the U.S. auto industry. Once upon a time, the United States literally taught the rest of the world how to make cars. We were the ones that invented the assembly line. We were the ones that showed the rest of the world what mass production could do for an economy. For decades, we produced more cars than anyone else and we sold more cars than anyone else. Detroit was known as "the Motor City" and our manufacturing prowess dominated the planet. But now all of that has changed. Japan makes far more vehicles than we do today. So does Germany. As you read this, state of the art production facilities are going up all over China. Meanwhile, the U.S. auto industry continues to rot and thousands upon thousands of good automotive jobs continue to leave our shores. The rest of the world is making cars better than we are, they are making them cheaper than we are and they really don't care that many of our formerly great manufacturing cities are turning into rotting, stinking hellholes. The U.S. auto industry was once a symbol of American dominance, but now it is just a symbol of American decline. If we want to remain a great nation, then we need to start becoming great at making things once again. (Read More....)
 The central banks of the world are acting as if it is 2008 all over again. Desperate times call for desperate measures, and right now the central bankers are pulling out all the stops. The Federal Reserve, the European Central Bank, the Bank of England, the Bank of Canada, the Bank of Japan and the Swiss National Bank have announced a coordinated plan to provide liquidity support to the global financial system. According to the plan, the Federal Reserve is going to substantially reduce the interest rate that it charges the European Central Bank to borrow dollars. In turn, that will enable the ECB to lend dollars to European banks at a much cheaper rate. The hope is that this will alleviate the credit crunch which has gripped the European financial system by the throat. So where is the Federal Reserve going to get all of these dollars that it will be loaning out at very low interest rates? You guessed it - the Fed is just going to create them out of thin air. Our currency is being debased so that Europe can be helped out. Unfortunately, the impact of this move will be mostly "psychological" because it really does nothing to address the fundamental problems that Europe is facing. It is up to Europe to solve those problems, and so far Europe has shown no signs of being able to do that. (Read More....)
 How much of a threat is the nuclear crisis in Japan? That question is on the minds of millions of people around the globe tonight. Unfortunately, the Japanese government and the mainstream media have both been doing their best to downplay this crisis. Even though there have been massive explosions at the Fukushima Dai-ichi nuclear facility, authorities in Japan have still been very stingy with information and they keep insisting that the situation is under control. But the situation is not under control. In fact, it just seems to get worse with each passing day. Radiation levels are now incredibly high at the Fukushima Dai-ichi complex and the radiation cloud is starting to spread. Radiation levels in Tokyo are already 10 times above normal levels, and there are reports in the international media that some people have begun to flee the city. It is imperative that the Japanese government tell the truth about what is going on because this could potentially affect the health of millions of people. There are over 12 million people in the city of Tokyo alone. If this nuclear crisis continues to get worse it could potentially end up killing more Japanese than the tsunami just did. (Read More....)
 The economic collapse of Japan has begun. The extent of the devastation is now becoming clear and many are now projecting that this will be the most expensive natural disaster in modern human history. The tsunami that struck Japan on March 11th swept up to 6 miles inland, destroying virtually everything in the way. Countless thousands were killed and entire communities were totally wiped out. So how does a nation that is already drowning in debt replace dozens of cities and towns that have suddenly been destroyed? Many in the mainstream media are claiming that the economy of Japan will bounce right back from this, but they are wrong. The tsunami decimated thousands of square miles. The loss of homes, cars, businesses and personal wealth is almost unimaginable. It is going to take many years to rebuild the roads, bridges, rail systems, ports, power lines and water systems that were lost. There are going to be a significant number of Japanese insurance companies and financial institutions that are going to be totally wiped out as a result of this great tragedy. Of course in the days ahead the Japanese people will band together and work hard to rebuild the nation, but the truth is that it is impossible to "bounce right back" from such a massive loss of wealth, assets and infrastructure. (Read More....)
 The entire world is in a state of mourning today as details regarding the horrific damage caused by the massive tsunami in Japan continue to trickle in. The magnitude 8.9 earthquake that caused the tsunami was the largest earthquake that Japan has ever experienced in modern times. Waves as high as 30 feet swept over northern Japan. The tsunami waters reached as far as 6 miles inland, and authorities have already recovered hundreds of dead bodies. Those of us that have seen footage of this disaster on television will never forget it. But this nightmare is not over yet. There have been dozens of aftershocks, and many of them have been quite large. In fact, there have been 19 earthquakes of at least magnitude 6.0 in the area over the last 24 hours. So what is this disaster going to do to the 3rd largest economy in the world? Japan already had a national debt that was well over 200 percent of GDP. Could this be the "tipping point" that pushes the Japanese economy over the edge and into oblivion? (Read More....)
 Has China decided that now is the time to start dumping U.S. Treasuries? The Treasury Department announced on Tuesday that foreign holdings of U.S. Treasury securities fell by $53 billion in December, which is an all-time record decline for one month. China alone reduced its holdings by $34.2 billion. So is this because the U.S. doesn't need to borrow as much money anymore? Of course not. In fact, the Obama administration just released a new budget which calls for a record 1.56 trillion dollar budget deficit. Obama has publicly stated that the U.S. will be running trillion dollar deficits for the foreseeable future. No, China is not getting rid of U.S. Treasuries because the U.S. doesn't need to borrow anymore. The U.S. needs to borrow from China (and from everyone else) more than ever. (Read More....)
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27 Signs That The Nuclear Crisis In Japan Is Much Worse Than Either The Mainstream Media Or The Japanese Government Have Been Telling Us