Investment banking giant Goldman Sachs has become perhaps the most prominent symbol for everything that is wrong with the U.S. financial system, but most Americans cannot even begin to explain what they do or how they have made tens of billions of dollars from the economic collapse of America. The truth is that what Goldman Sachs did was fairly simple, and there may not have even been anything “illegal” about it (although they are now being investigated by the SEC among others). (Read More...)
The Other Side Of Christmas
For some Americans this past Christmas represented the best of times. They drove their imported cars out to the big box stores where they bought cheap plastic imported goods from China to give to their family members as they huddled in the spacious family rooms of their McMansions. But for millions of other Americans this was not a happy Christmas. For those Americans, the holiday season has been filled with frustration and despair as they try to pick up the pieces of their lives after being hit by an economic tsunami. You see, the deep recession of 2008/2009 is not just about numbers and figures – it is about real people with very real problems. Boneheaded policies developed in Washington and in the corporate boardrooms of America have had devastating consequences for millions of people out there. So if you are having a “happy” holiday season, perhaps you could take a few moments to consider what the other side of Christmas is like for the large numbers of Americans who are really hurting out there right now. (Read More...)
25 States Have Run Out Of Unemployment Money And 15 More Are On The Verge Of Running Out
One aspect of the current economic collapse that has not been widely reported is the extreme difficulty that most state unemployment insurance funds are facing. At this point, 25 state unemployment insurance funds have gone broke and the Department of Labor estimates that 15 more state unemployment funds will likely go broke within two years and need massive loans from the federal government just to keep going. (Read More...)
Is The World About To Experience A Devastating Economic Collapse?
Is the world about to experience an absolutely crippling economic collapse? That is the conclusion that we have come to after years of research. The truth is that the world economic system is essentially a mountain of debt based on paper money that is backed up by nothing. History has shown that any economy based on debt and paper money will always fall apart in the end – especially when greed and corruption are huge factors in the equation as they are today. (Read More...)