Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly. But this time around that is not the case. The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover. (Read More...)
The Feds Were Quick To Bail Out Their Friends At The Big Banks But Are Letting All The Small Banks Die Like Dogs
The massive federal bailouts that Congress passed in 2008 and 2009 were supposed to stabilize the banking system and breathe new life into the U.S. economy. We were told over and over that the major banks were “too big too fail” and that the U.S. government was helping “Main Street” by giving massive bailouts to Wall Street. But unfortunately all that is not working out too well. Instead, the major banks (which got the bailouts) have cut their collective small business lending for the seventh month in a row while the feds are letting all the small banks die like dogs. (Read More...)
Will Americans Be Able To Handle The Next Great Depression? Not If They Are Anything Like This Guy
Will Americans be able to handle the next Great Depression? The truth is that most Americans today simply do not possess the strength of character to handle losing their jobs, their homes and the inflated lifestyles that we have all enjoyed by spending beyond our means. During the Great Depression of the 1930s, things were different. Family units were much stronger, people knew how to rely on each other and most Americans possessed enough morality and inner strength so that they did not freak out when things went from bad to worse. (Read More...)
Goldman Sachs Admits To Engaging In “Improper Behavior” During The Housing Crash – But They Aren’t About To Give The Money Back
In an absolutely stunning admission, the CEO of Goldman Sachs acknowledged on Wednesday that the investment bank engaged in “improper” behavior during 2006 and 2007. This improper behavior included making huge bets against the housing market while at the same time peddling more than $40 billion in securities backed by risky U.S. home loans. (Read More...)
11 Clear Signs That The U.S. Economy Is Headed Into The Toilet
The vast majority of the talking heads on television are still speaking of the current economic collapse as if it is a temporary “recession” that will soon be over. So far, the vast majority of the American people seem to believe this as well, although for many Americans there is a very deep gnawing in the pit of their stomachs that is telling them that there is something very, very wrong this time around. The truth is that the foundations of the U.S. economy have been destroyed by an orgy of government, corporate and individual debt that has gone on for decades. It was the greatest party in the history of the world, but now the party is over. The following are 11 signs from just this past month that show that the U.S. economy is headed into the toilet and will not be recovering…. (Read More...)
America: Land Of The Unemployed – 3 Unemployment Charts That Will Absolutely Shock You
With the unprecedented spending by the U.S. government over the past year and a half, shouldn’t we at least see some jobs being produced by now? After all, if we are putting our children and grandchildren into perpetual debt from which they will never emerge, shouldn’t we at least be able to put American workers back to work? Unfortunately, as you will see from the charts in this article, that is most definitely not the case. In fact, unemployment is reaching levels in the U.S. that have not been seen for decades. The high paying manufacturing and construction jobs that were the bedrock for the American middle class for decades have disappeared and they are simply not coming back. (Read More...)
Ponzi Scheme: The Federal Reserve Bought Approximately 80 Percent Of U.S. Treasury Securities Issued In 2009
No, the headline is not a misprint. According to CNBC, the Federal Reserve bought approximately 80 percent of the U.S. Treasury securities issued in 2009. In other words, the Federal Reserve has been gobbling up the massive tsunami of U.S. government debt that has been created over the past year. This is absolutely unprecedented, and it is yet another clear indication that the U.S. financial system is on the verge of a major economic collapse. (Read More...)
A Record Number Of Americans Turn To Food Stamps As America Is Gripped By Economic Despair
Would you ever accept government welfare? Would you look down on someone who does? Well, if you would look down on a fellow American who receives food stamps then get ready to look down on a massive sea of people. The truth is that over 37 million Americans now receive food stamps, and the program is expanding at a pace of about 20,000 people a day. As hordes of Americans have been forced out of their jobs and their homes, millions are finding that the only way they can make it is to accept food stamps. For many it is a tremendously humbling moment to turn to the government for help, and for so many millions to be dependent on the food stamps program is yet another indication of how deep the economic despair in America has gotten. (Read More...)