Say What? 30 Ben Bernanke Quotes That Are So Stupid That You Won’t Know Whether To Laugh Or Cry

Did you see Federal Reserve Chairman Ben Bernanke on 60 Minutes the other night?  Bernanke portrayed the Federal Reserve as the great protector of the U.S. economy, he claimed that unemployment would be 15 percent higher if the Federal Reserve had sat back and done nothing during the financial crisis and he even started laying the groundwork for a third round of quantitative easing.  Unfortunately, 60 Minutes did not ask Bernanke any hard questions and did not challenge him on his past record.  It was almost as if they considered Bernanke to be above criticism.  But someone in the mainstream media should be taking a closer look at this guy and his record.  The truth is that the incompetence that Bernanke has displayed over the past few years makes the Cincinnati Bengals look like a model of excellence.  Bernanke kept insisting that the housing market was stable even while it was falling apart, he had absolutely no idea the financial crisis was coming, he declared that Fannie Mae and Freddie Mac were in no danger of failing just before they failed, his policies have created asset bubble after asset bubble and the world financial system is now inherently unstable.  But even with such horrific job performance, Barack Obama and leaders of both political parties continue to publicly praise Bernanke at every opportunity.  What in the world is going on here? (Read More...)

Jobless Recovery?: 25 Unemployment Statistics That Are Almost Too Depressing To Read

Guess what?  Unemployment is up again!  That’s right – even though Wall Street is swimming in cash and the Obama administration is declaring that “the recession is over”, the U.S. unemployment rate has gone even higher.  So are you enjoying the jobless recovery?  The truth is that there should not be any talk of a “recovery” as long as the “official” unemployment rate remains at around 10 percent and the “real” unemployment continues to hover around 17 percent.  There are millions and millions of American families that are living every day in deep pain because of the lack of jobs.  Meanwhile, there are all of these economic pundits that are declaring that we are just going to have to realize that chronic unemployment is the “new normal” and that if other nations can handle high rates of unemployment then so can we.  The most optimistic economists are projecting that we can perhaps get the unemployment rate down to around 8 percent by 2012.  On the other hand, there are many economists that are convinced that things are going to get even worse. (Read More...)

Trillions In Secret Fed Bailouts For Global Corporations And Foreign Banks – Has The Federal Reserve Become A Completely Unaccountable Global Bailout Machine?

Has the Federal Reserve become the Central Bank of the World?  That is what some members of Congress are asking after the Federal Reserve revealed the details of 21,000 transactions stretching from December 2007 to July 2010 that totaled more than $3 trillion on Wednesday.  Most of these transactions involved giant loans that were nearly interest-free from the Federal Reserve to some of the largest banks, financial institutions and corporations all over the world.  In fact, it turns out that foreign banks and foreign corporations received a very large share of these bailouts.  So has the Federal Reserve now become a completely unaccountable global bailout machine?  Sadly, the truth is that we would have never learned the details of these bailouts if Congress had not forced this information out of the Fed.  So what other kinds of jaw-dropping details would be revealed by a full audit of the Federal Reserve? (Read More...)

Debt = Money, Money = Debt

Where does money come from?  You would think that question should be so simple that any 10-year-old child could answer it, but that is not the case.  You see, the truth is that the vast majority of American adults cannot even answer that question.  Yet we all use money every day.  Without money our lives would fall apart fairly quickly.  But most of us never stop to think about how it comes into existence.  The truth is that bankers are the source of all money in the United States.  Either the Federal Reserve bankers create it, or individual bankers create it through the mechanism of fractional reserve banking.  In both cases, it is bankers that are creating the money.  In our financial system, the U.S. government cannot print money and no individual citizens are allowed to create money.  Rather, it is the bankers who have a complete and total monopoly on the creation of money in the United States. (Read More...)

Less Money, More Problems

How in the world is the U.S. economy going to recover if the American people have less money to spend?  Millions of American families are heading into 2011 knowing that either they won’t be seeing an increase in income or that their incomes will be smaller next year.  Long-term unemployment benefits are being cut off for millions of Americans, federal workers are having their wages frozen, Social Security recipients are not going to get a cost of living increase for 2011, taxes are going up for the vast majority of U.S. families and employers are forcing pay cuts on their workers across the United States.  Meanwhile, the cost of food just keeps going up, the cost of gas just keeps going up and the cost of health care just keeps going up.  So what are millions of American families that are already stretched to the limit going to do when they have less money in 2011? (Read More...)

20 Statistics That Prove That Global Wealth Is Being Funneled Into The Hands Of The Elite – Leaving Most Of The Rest Of The World Wretchedly Poor

Today global wealth is more highly concentrated in the hands of the elite than it ever has been at any other point in modern history.  Once upon a time, the vast majority of the people in the world knew how to grow their own food, raise their own animals and take care of themselves.  There weren’t many that were fabulously wealthy, but there was a quiet dignity in having land you could call your own or in having a skill that you could turn into a business.  Sadly, over the past several decades an increasingly growing percentage of agricultural land has been gobbled up by big corporations and by corrupt governments.  Hundreds of millions of people have been pushed off their land and into highly concentrated urban areas.  Meanwhile, it has become increasingly difficult to start a business of your own as monolithic global corporations have come to dominate nearly every sector of the world economy.  So more people than ever around the world are forced to work for “the system” just to make a living.  At the same time, those at the very top of the food chain (the elite) have spent decades rigging the system to ensure that increasing amounts of wealth will continue to flow into their pockets.  So now in 2010 we have a global system where a few elitists at the top are insanely wealthy while about half the people living on earth are wretchedly poor. (Read More...)

9 Shocking Examples Of Black Friday Violence – Is This A Foretaste Of The Economic Riots We Can Expect When The Financial System Collapses?

It seems with each passing year the madness on Black Friday gets even worse.  This year, there were reports of fights and rioting from coast to coast.  It was estimated that over 180 million U.S. shoppers headed for the stores on Friday, and whenever you get that many people together there are going to be problems.  But just how crazed ordinary Americans are getting over saving a little bit of money is deeply disturbing when you really start thinking about it.  If people will go this wild just to save 40 percent on a television set, then what in the world are they going to do when they have been without food for a couple of days?  If Americans will act like psychotic animals just to save 50 bucks, then what in the world will they do when they have lost everything and are desperate to survive? (Read More...)

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