The U.S. economy is dying and most American voters have no idea why it is happening. Unfortunately, the mainstream media and most of our politicians are not telling the truth about the collapse of the economy. This generation was handed the keys to the greatest economic machine that the world has ever seen, and we have completely wrecked it. Decades of incredibly foolish decisions have left us drowning in an ocean of corruption, greed and bad debt. Thousands of businesses and millions of jobs have left the country and poverty is exploding from coast to coast. We are literally becoming a joke to the rest of the world. It is absolutely imperative that we educate America about what is happening. Until the American people truly understand the problems that we are facing, they will not be willing to implement the solutions that are necessary. (Read More...)
And So It Begins – The First Major European Bank Has Been Bailed Out And More Bailouts Are Coming
And so it begins. The first major European bank bailout of 2011 has now happened. French/Belgian banking giant Dexia has failed and both governments have pledged to participate in a rescue plan. But Dexia will not be the last major European bank to fail. Even now, governments all over Europe are feverishly developing plans to bail out major national banks in the event that the current financial crisis goes from bad to worse. Instead of learning the lessons of 2008, most major European banks have continued to pile up huge mountains of debt, leverage and risk. Now the bill for that stupidity is about to be passed on to the taxpayers of those nations. But with most nations in Europe already drowning in debt, are bank bailouts really the right course of action? What is it going to happen to Europe if dozens of major banks start failing and trillions of euros are needed to bail them all out? (Read More...)
Bank Fees? Let’s Tell The Banksters That We Don’t Want Their Stinking Bank Fees And That We Are Switching Banks
Millions of Americans are about to get stabbed in the back by their banks. Bank of America, JPMorgan Chase, Wells Fargo, Citibank and several other large banks are either already implementing outrageous new bank fees or are currently testing them. So are these ridiculous new bank fees going to be enough to get millions of Americans to finally boycott the big banks? When millions of Americans start paying a $5 fee every month to use their debit cards and when millions of Americans start paying a $20 fee every single month just to have a checking account hopefully that will be enough to wake them up. These fees are certainly not going to cause an “economic collapse”, but they are incredibly annoying. The truth is that the big banks are trying to take advantage of us. It shouldn’t cost $60 a year just to use a debit card. It shouldn’t cost $240 a year just to have a checking account. What we need to do is to send an unequivocal message to the big banks: we don’t want your stinking bank fees and we are switching banks. (Read More...)
Bad Financial News Keeps Pouring In: 14 Facts That Just Might Scare The Living Daylights Out Of You
Will the bad financial news ever stop? A lot of people in the financial world were hoping for a much better fourth quarter after an absolutely disastrous third quarter. Well, if Monday was any indication, October could end up being a really rough month for global financial markets. So much bad financial news keeps pouring in that it really is a challenge to try to keep track of it all. Greece seems to get closer to defaulting on their debts with each passing day, and it appears that Germany is not going to contribute any more bailout money beyond what they have already committed to. Major banks on both sides of the Atlantic are on the verge of collapse, and investors all over the world are afraid that we may have another “Lehman Brothers moment” soon. Shares of American Airlines dropped a staggering 33 percent on Monday as rumors that they will soon be entering bankruptcy swirled. Yes, things certainly are getting interesting. Back in 2008, the governments of the western world saved the financial system with gigantic bailouts that were absolutely unprecedented. If the financial system crashes again at some point in the coming weeks or months, will the political will for more bank bailouts be there? If not, what is going to happen to the banking system? (Read More...)
Uh Oh: 90 Percent Of Americans Rate Economic Conditions In The U.S. As “Poor”
Uh oh – are we rapidly reaching another major economic tipping point? According to a new CNN/ORC International Poll, 90 percent of the American people believe that economic conditions in the United States are “poor”. This represents a significant increase from when the same question was asked in June. Back then, 81 percent of the American people considered economic conditions to be “poor”. To put this in perspective, only 11 percent of Americans rated economic conditions in the U.S. as “poor” back in January of 1999. The Federal Reserve and the Obama administration keep telling us that we are in the middle of an “economic recovery”, but obviously what average Americans are experiencing on the street is a different story. Millions of families have been absolutely devastated by mass layoffs, heartless foreclosures or bad debts. All of the recent polls show that satisfaction with government is at an all-time low and anger at Wall Street and the financial community is rising to dangerous levels. In the United States today, the economy is the most important issue for most Americans. When you have 9 out of 10 Americans rating economic conditions as “poor”, that is a very troubling sign. (Read More...)
Prophets Of Doom: 12 Shocking Quotes From Insiders About The Horrific Economic Crisis That Is Almost Here
We are getting so close to a financial collapse in Europe that you can almost hear the debt bubbles popping. All across the western world, governments and major banks are rapidly becoming insolvent. So far, the powers that be are keeping all of the balls in the air by throwing around lots of bailout money. But now the political will for more bailouts is drying up and the number of troubled entities seems to grow by the day. Right now the western world is facing a debt crisis that is absolutely unprecedented in world history. Europe has had a tremendously difficult time just trying to keep Greece afloat, and several much larger European countries are now on the verge of a major financial crisis. In addition, there is a growing number of very large financial institutions all over the western world that are also rapidly approaching a day of reckoning. The global financial system is a sea or red ink, and when we get to the point where there are hundreds of ships going under how is it going to be possible to bail all of them out? The quotes that you are about to read show that quite a few top financial and political insiders know that things cannot hold together much longer and that a horrific economic crisis is coming. We built the global financial system on a foundation of debt, leverage and risk and now this house of cards that we have created is about to come tumbling down. (Read More...)
Go West, Young Man (To North Dakota)
Are you unemployed and out of options? Well, if you live in most areas of the country there is not much hope for you. But there is one state where hiring is really hot right now. If you are desperate for a job, you just might want to check out North Dakota. Way back in the middle of the 19th centurty, author Horace Greeley gave young Americans the following advice: “Go West, young man, go West“. Well, we have reached another moment in U.S. history when it may be wise for many Americans to pick up and move to another part of the country in search of opportunity. Of course traveling to North Dakota is not “going west” for all Americans, but for the majority of the population it is. In the 19th century, many Americans traveled west because they believed those that told them that there was “gold in them thar hills”, but today a different kind of “gold” is being found in North Dakota. The state is currently enjoying a boom of “black gold”, and all of that oil is creating a huge number of jobs. If you are unemployed and you are desperate, you might want to check out North Dakota. Desperate times call for desperate measures. (Read More...)
17 Facts That Prove That The Average American Family Is Getting Absolutely Pulverized By This Economy
How in the world does the average American family survive in this economy? The median household income is a little bit less than $50,000 a year right now. So let’s call that about $4000 a month. But before any of that money gets spent, you have to take out at least $1000 in taxes. That leaves about $3000 a month to pay all the bills with. With that $3000 you have to pay the mortgage (or rent), make the car payments, make the student loan payments, pay for power and water, pay for health insurance, pay for home insurance, pay for car insurance, pay the phone bill, pay the Internet bill and pay the cable bill. On top of all that, every member of the family needs three meals a day and the cars need to be filled up with gasoline or they won’t go anywhere. Of course I haven’t even mentioned expenses that don’t happen every month such as car repairs or new shoes. No wonder so many families are feeling so financially stressed! (Read More...)