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No End in Sight
- Text size
Infowars
April 11, 2009
It’s been 21 months since two Bear Stearns hedge funds defaulted setting off a series of events which have led to the gravest economic crisis since the Great Depression. No one expected the financial meltdown to hit this hard or spread this fast. The failure at Bear triggered a freeze in the secondary market where mortgage loans are repackaged into securities and sold to investors. That market is now completely paralyzed cutting off 40 percent of funding for consumer and business loans and thrusting the broader economy into a deep recession. Banks and financial institutions have been forced to curtail their off-balance sheet operations and build their reserves which have ballooned from $45 billion to nearly $700 billion in the last 6 months alone. Like millions of homeowners who have seen their home equity vanish and their retirement savings slashed in half, the banks are hunkering down hoping they can outlast the deflationary hurricane ahead.
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| Treasury Secretary Geithner and Fed chief Bernanke have lent or committed $13 trillion trying to keep the financial system functioning, but they’ve only managed to plug a few holes and avoid a system-wide collapse. | |
The deteriorating economic conditions have taken their toll on consumer confidence and forced businesses to lay off employees that won’t be needed during the slowdown. The system is bursting with overcapacity. Demand is falling faster than any time since the 1930s. Inventories will have to be trimmed and budgets cut to muddle through the down-times. Foreign trade has slowed to a crawl, auto sales are down by 40 percent or more, and unemployment is rising at 650,000 per month. Policymakers have pushed through a $800 billion stimulus plan, but it won’t be nearly enough to stop the steady rise in unemployment or take up the slack in an economy where industrial output has been cut in half, new home construction has dropped to record lows, and manufacturing has fallen off a cliff. Economists warn that when governments don’t step in and provide stimulus to increase aggregate demand, consumers cut back sharply on spending and push the economy deeper into depression.
Treasury Secretary Geithner and Fed chief Bernanke have lent or committed $13 trillion trying to keep the financial system functioning, but they’ve only managed to plug a few holes and avoid a system-wide collapse. The financial system is hobbled and unable to provide sufficient credit to generate growth. Every sector has suffered cutbacks, layoffs and slimmer profits. The problems go beyond toxic assets or complex derivatives. The system is plagued with stagnation, overcapacity and redundancy. Economics professor Robert Brenner sums it up like this in an interview in the Asia Pacific Journal:
Robert Brenner: "The current crisis is more serious than the worst previous recession of the postwar period, between 1979 and 1982, and could conceivably come to rival the Great Depression, though there is no way of really knowing. Economic forecasters have underestimated how bad it is because they have over-estimated the strength of the real economy and failed to take into account the extent of its dependence upon a buildup of debt that relied on asset price bubbles. In the U.S., during the recent business cycle of the years 2001-2007, GDP growth was by far the slowest of the postwar epoch. There was no increase in private sector employment. The increase in plants and equipment was about a third of the previous, a postwar low. Real wages were basically flat. There was no increase in median family income for the first time since World War II. Economic growth was driven entirely by personal consumption and residential investment, made possible by easy credit and rising house prices. Economic performance was weak, even despite the enormous stimulus from the housing bubble and the Bush administration’s huge federal deficits. Housing by itself accounted for almost one-third of the growth of GDP and close to half of the increase in employment in the years 2001-2005. It was, therefore, to be expected that when the housing bubble burst, consumption and residential investment would fall, and the economy would plunge. " ("Overproduction not Financial Collapse is the Heart of the Crisis", Robert P. Brenner speaks with Jeong Seong-jin, Asia Pacific Journal)
The economy is now in a downward spiral. Tightening in the credit markets has made it harder for consumers to borrow or businesses to expand. Overextended financial institutions are forced to shed assets at firesale prices to meet margin calls from the banks. Asset deflation is ongoing with no end in sight. Price declines in housing have reached 30 percent already and are now accelerating on the downside. This is the nightmare scenario that Bernanke hoped to avoid; a capitulation in real estate that drags the rest of economy into a black hole. Economist Nouriel Roubini and market analyst Meredith Whitney predict that housing prices will drop another 20 percent before they hit bottom. Nearly half of all homeowners will be underwater and owe more on their mortgages than the current value of their homes. That will increase the foreclosures and push scores of banks into default. According to Merrill Lynch’s economist David Rosenberg:
"It would take over three years to achieve price stability (in housing) The problem is that prices do not begin to stabilize until we break below eight months’ supply – and they tend to deflate 3% per quarter until that happens. So as impressive as it is that the builders have taken single-family starts below underlying sales, their efforts are just not sufficient to prevent real estate prices from falling further. In fact, even if the builders were to declare a moratorium immediately, that is, taking starts to zero, demand is so weak and the unsold inventory so intractable that it would now take over three years to achieve the holy grail of price stability in the residential real estate market."
- A d v e r t i s e m e n t
The main economic indicators all point to a long period of retrenchment ahead. The slowdown in global trade has hit Germany, Japan, and most of Asia particularly hard. The export-driven model of growth has suffered a major setback and won’t rebound for some time to come. With the US consumer unable to continue his debt-fueled spending spree, surplus countries will have to develop domestic markets for growth, but it won’t be easy. Chinese workers save 50 percent of what they earn and German workers already have a comfortable life without increasing personal consumption. Higher wages and lower interest rates can help stimulate demand, but cultural influences make it difficult to change spending habits. Meanwhile, the economy will continue to languish operating well below its optimum capacity.
Capital flows have also suddenly reversed causing turmoil in the currency markets. January’s TIC data indicates that net capital outflows for the US were negative $148 billion in January. Capital is now fleeing the country. Financial protectionism has triggered the repatriation of foreign investment causing a sharp drop in the purchase of US sovereign debt. This is from Brad Setser, economist for the CFR:
"The obvious implication of the recent downturn in total reserve holdings — and the $180 billion fall in q4 wasn’t driven by currency moves — is that the pace of growth in the world’s dollar reserves has slowed dramatically…
The obvious implication: most of the 2009 US fiscal deficit WILL NEED TO BE FINANCED DOMESTICALLY. The Fed’s custodial data indicates central banks are still buying Treasuries, though at a somewhat slower pace than in late 2008. But their demand hasn’t kept up with issuance. (Foreign Central banks aren’t going to finance much of the 2009 US fiscal deficit; Their reserves aren’t growing anymore", Brad Setser, Council on Foreign Relations)
The United States does not have the reserves to finance it own massive deficits which will soar to $1.9 trillion by the end of 2009. The Fed will have to increase its purchases of US Treasuries and monetize the debt. Foreign holders of Treasuries and dollar-backed assets ($5 trillion overseas) will be watching carefully as Bernanke revs up the printing presses to fight the recession and meet government obligations. China, Russia, Venezuela and Iran have already called for a change in the world’s reserve currency. It won’t happen overnight, but the momentum is steadily growing.
The S&P 500 has soared 23 percent in the last four weeks, but the current bear market rally is misleading. The prospects for a quick recovery are remote at best. The fundamentals are all weak. Corporate profits are down, GDP is negative 6 percent, housing is in a shambles, and the banking system broken. The Fed has increased the money supply by 22 percent, but economic activity is at a standstill. The velocity at which money is spent is the slowest since 1987. Nothing is moving. The banks are hoarding, credit has dried up, and consumers are saving for the first time in 2 decades. The banks’ credit-conduit cannot function properly until bad assets are removed from their balance sheets. But the magnitude of the losses make it impossible for the government to purchase them outright without bankrupting the country. According to the Times Online, the IMF has increased its estimates of how much toxic mortgage-backed paper the banks are holding:
"Toxic debts racked up by banks and insurers could spiral to $4 trillion, new forecasts from the International Monetary Fund (IMF) are set to suggest.
The IMF said in January that it expected the deterioration in US-originated assets to reach $2.2 trillion by the end of next year, but it is understood to be looking at raising that to $3.1 trillion in its next assessment of the global economy, due to be published on April 21. In addition, it is likely to boost that total by $900 billion for toxic assets originated in Europe and Asia.
Banks and insurers, which so far have owned up to $1.29 trillion in toxic assets, are facing increasing losses as the deepening recession takes a toll, adding to the debts racked up from sub-prime mortgages. The IMF’s new forecast, which could be revised again before the end of the month, will come as a blow to governments that have already pumped billions into the banking system."
Since banks lend at a ratio of 10 to 1; the amount of credit cut off to the broader economy will ensure that sluggish growth well into the future. If there is a recovery, it will be weak. The Obama administration will have to increase its capital injections even though they will add to mushrooming deficits. So far, financial institutions have only written down $1 trillion or 25 percent of their losses. This means the banking system is insolvent. Eventually, Obama will have to resolve the bad banks and auction off troubled assets, even though political support is rapidly eroding. According to political analyst F. William Engdahl, most of the garbage assets are concentrated in the nation’s five biggest banks:
"Today five US banks according to data in the just-released Federal Office of Comptroller of the Currency’s Quarterly Report on Bank Trading and Derivatives Activity, hold 96% of all US bank derivatives positions in terms of nominal values, and an eye-popping 81% of the total net credit risk exposure in event of default.
The five are, in declining order of importance: JPMorgan Chase which holds a staggering $88 trillion in derivatives (€66 trillion!). Morgan Chase is followed by Bank of America with $38 trillion in derivatives, and Citibank with $32 trillion. Number four in the derivatives sweepstakes is Goldman Sachs with a ‘mere’ $30 trillion in derivatives. Number five, the merged Wells Fargo-Wachovia Bank, drops dramatically in size to $5 trillion. Number six, Britain’s HSBC Bank USA has $3.7 trillion. ("Geithner’s ‘Dirty Little Secret’: The Entire Global Financial System is at Risk", F. William Engdahl, Global Research)
These five banking Goliaths are at the center of political power in America today. Their White House emissary, Timothy Geithner, has concocted a rescue plan–the Public-Private Investment Program–which will provide 94 percent funding from the FDIC for the purchase bad assets. The program is designed to keep asset prices artificially high while transferring the bulk of the losses to the taxpayer. The plan has been widely criticized and has even raised a few eyebrows even among usually-supportive members of the establishment like the Financial Times:
"US banks that have received government aid, including Citigroup, Goldman Sachs, Morgan Stanley and JP Morgan Chase, are considering buying toxic assets to be sold by rivals under the Treasury’s $1,000bn (£680bn) plan to revive the financial system.
The plans proved controversial, with critics charging that the government’s public-private partnership – which provide generous loans to investors – are intended to help banks sell, rather than acquire, troubled securities and loans.
Banks have three options if they want to buy toxic assets: apply to become one of four or five fund managers that will purchase troubled securities; bid for packages of bad loans; or buy into funds set up by others. The government plan does not allow banks to buy their own assets, but there is no ban on the purchase of securities and loans sold by others." (The Financial Times)
It’s a multi-billion dollar shell game with myriad opportunities for fraud. In theory, the banks could create their own off-balance sheet operations (SIVs or SPEs) and use them to purchase their own bad assets taking advantage of the government’s 94 percent low interest non recourse loans. It’s a blatant swindle and another windfall for Wall Street.
Geithner’s plan does not fix the problems with the banks, it only delays the final outcome. The next leg-down in the recession will push many of the undercapitalized banks into receivership. Geithner’s PPIP won’t change that. As housing prices fall and foreclosures rise, the capital position of many of the banks will become untenable leading to a rash of bank failures. An article in Monday’s Wall Street Journal puts adds some historical perspective to today’s financial crisis:
"The events of the past 10 years have an eerie similarity to the period leading up to the Great Depression. Total mortgage debt outstanding increased from $9.35 billion in 1920 to $29.44 billion in 1929. In 1920, residential mortgage debt was 10.2% of household wealth; by 1929, it was 27.2% of household wealth….
The causes of the Great Depression need more study, but the claims that losses on stock-market speculation and a monetary contraction caused the decline of the banking system both seem inadequate. It appears that both the Great Depression and the current crisis had their origins in excessive consumer debt — especially mortgage debt — that was transmitted into the financial sector during a sharp downturn.
Why does one crash cause minimal damage to the financial system, so that the economy can pick itself up quickly, while another crash leaves a devastated financial sector in the wreckage? The hypothesis we propose is that a financial crisis that originates in consumer debt, especially consumer debt concentrated at the low end of the wealth and income distribution, can be transmitted quickly and forcefully into the financial system. It appears that we’re witnessing the second great consumer debt crash, the end of a massive consumption binge." (From Bubble to Depression? Steven Gjerstad and Vernon L. Smith, Wall Street Journal)
PARTY LIKE ITS 1929
Two leading economic historians, Barry Eichengreen and Kevin H. Rourke, have written an article "A Tale of Two Depressions" which has been widely circulated on the Internet. It illustrates (with graphs) how the global economy is plummeting faster now than during the 1930s.
http://www.voxeu.org/index.php?q=node/3421
By nearly every objective standard, the present downturn is worse than the Great Depression. Manufacturing, industrial production, foreign trade, capital flows, consumer confidence, housing, and even stocks are falling faster today than after the crash of 1929. So far, Bernanke’s monetary bandaids have prevented the wholesale collapse of the financial system, but that could change. The economy continues its downhill slide and it looks like there’s nothing to stop it from falling further still.
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April 11th, 2009 at 11:06 am
A solution to this problem. But first a question. What gives these assholes power? Not us, because obviously we don’t like them and they are doing these things in secret. No no no, it’s not the people because the world is so big that people have their own problems to deal with, this one that should be the highest on the list but people are personal and private (a small truth about freedom, and a wonder of course.).
No. IT IS MONEY! This whole problem is about MONEY! If the bankers didn’t have MONEY then they wouldn’t be succeeding in enslaving the human race. THE OTHER FACT ABOUT MONEY IS THAT IS A BARRIER TO THE PROGRESSION OF HUMANKIND. Think about Wall Street. Why is it called “Wall” street?
A wall blocks something from getting to the other side. Money is our wall that we have to knock down to live to our full potentials. To live with purpose rather than slaves to a green piece of paper. Wall street, the bankers of wall street and the elitists, are our walls. And the square room just keeps getting smaller and smaller. THE FUNNY THING IS THIS IS ONLY A HANDFUL OF PEOPLE DOING THIS SO WHAT ARE YOU AFRAID OF?
There are 6 billion people in the world. And maybe what? Fifty are in control of it because they have cash? What are we thinking? Why can’t we fight back? Non-violently if it’ll make everyone feel better but in this society, money equals power, so these bastards with use it to pay the greedy sheepish saps to do their bidding and kill us.
IF WE’RE ALREADY DEAD THEN WHY NOT STAND UP AND FIGHT AND MAYBE GIVE OURSELVES A CHANCE?
A solution? Stop spending money. Stop it. Quit using money altogether. Become free of money, as hard as it sounds, I know. It’s a scary concept, how will we eat? How will we get around? How will we live?
Forget all your bills, we are human beings. We all bleed the same, we all have the same characteristics that the human body is made of, we are not our bills or what we own. We were created to do wondrous things, extraordinary things. To become one together. The problem is we are faced with the concept that the society we live in now has become unneccesary to the survivial of our species, but the rich and corrupt will tell us differently because they want us to shut up and do as we’re told.
WE ARE FREE PEOPLE! NOT ONLY FROM DOCUMENTS THAT OUR FOREFATHERS HAVE WRITTEN BUT FROM GOD HIMSELF! And now you ask, well why doesn’t God come down and save us all?
Let me tell you something. Do you really want God to come down and tell you that you are evil and that you are going to Hell for all eternity? And he takes you there on the spot? We are all sinners, some worse than others, and even if your intentions and conscience suddenly become clear when seeing the Lord most High, He can see right through your deceptions as well. He is God, He made you and the body you dwell in. Don’t think you’re better than anyone else because we all have our flaws. Our hopes would be completely killed if He told us what we’re afraid to state in public about ourselves.
He wants us to learn from each other. How would we learn right from wrong if He is holding our hand for us and shows up out of nowhere? There are two types of bad people. A) Most of them strive to be good but feel that they can’t because of circumstances beyond their control, so they go with the flow of ignorance and “do as they’re told” like slaves and sheep. B) The other bad person’s way of thinking makes them think wrongdoing is righteous (i.e. the elitist bankers plan for a one world government based around money and power.).
Righteous people, regardless of the fact that most are afraid to lift a finger to save themselves because they think fighting is wrong and immoral, know the truth and will stand up to fight. Even if they die. Because they believe in something. Something more good and awesome that we cannot even fathom because we’re worried about our bills; mortgage payments, car insurance, food shopping, taxes, etc.
FORGET ABOUT PAYING THESE THINGS! IF EVERYONE IN THIS COUNTRY LED A MUTINY AGAINST THE GOVERNMENT BY NOT PAYING THEM ANYMORE, WE WOULD HAVE SUCH A MOVEMENT OF FREEDOM THAT HAS NEVER BEEN SEEN BEFORE!
Take away their money, take away their power. There is a reason why money is called the “root of all evil/route to all evil”. Corruption and greed. That’s what America has become, and we’re letting them enslave us because we’re afraid of a society without money.
Please listen, there is a better way of doing things. Money isn’t the be all/end all solution to mankind. Look inside yourselves and see the truth. We humans are creative beings, THINK!
Oh and if I die because I wrote this, you know who killed me. But in honesty? IT WAS WORTH IT!
Money money money, No end in sight? Not if we let it be that way.
von Reply:
April 11th, 2009 at 12:41 pm
just a side-note: it is against Islam to charge interest on money loans.
KB Reply:
April 11th, 2009 at 3:52 pm
Ever heard of the Venus Project?
DIY Reply:
April 12th, 2009 at 10:07 am
Venus Project sounds like the high tech totalitarian world that Jones warns about in Endgame. Zeitgeist Addendum is NWO propaganda to sucker the patriot movement into collectivism and neo-Marxism with a high tech overlay; the very things that most of us on here are fighting against!
If you hate fed notes, you should barter or set up a “really really free market” in your community.
WhatHappened Reply:
April 11th, 2009 at 10:08 pm
(Yawn)
Ben Reply:
April 12th, 2009 at 6:16 am
It’s called “wall street” because at one point it literally was a wall, separating the town of New Amsterdam from other colonies and the indigenous population.
Wrather Reply:
April 12th, 2009 at 7:11 am
I could not agree anymore, MONEY is the problem, always has been. By the way, the actual quote is “the love of money is the root of all evil”. I say get rid of money, there has to be a better system, or is ANY system EVIL? Humans are just talking monkees anyway.
DIY Reply:
April 12th, 2009 at 10:09 am
Money and religion are just symptoms, not the root. You Zeitgeist fools really need to wake up to that and quit getting suckered by Peter Joesph’s dogma.
Struckanerve Reply:
April 12th, 2009 at 4:36 pm
You probably have lots of money, that’s why you disagree with what that man said. Do you not realize that when you die you won’t have any cash at all? Can’t take it with ya buddy.
do this Reply:
April 12th, 2009 at 10:34 am
Kill Geithner. Problem solved.
lighttowers Reply:
April 12th, 2009 at 11:20 am
Hello Mr Jones
whatever might be true or no or wherever the truth might lie in between t: I have recently seen your docu: “wak up or Waco” and I must really say: You are a brave American! Would be good to have somebody like you here in germany, where people are same kept drunken or druged with all kinds of soft news, claims and whatever. For sure there are rapings of woman daily. some mya be inbvented some not. But tze most cruel ones, those made by (mostly) Eastern European Woman dealers remain undisputed- noone cares.
But whats about someone who is charged to have “sex with babies” like it was in Waco with David koresh? We here in Germany get many stories like those presented by media as if sex with kids or babies would be quite usual? Strange grazy or what or just an terrific story?
. I dont mind about I wonder how someone will discuss whether such a cruel thing is possible, if any discussion about such an issue would become painful for everybody?
? However it made things poing against Waco it made everybody angry enough to burn Waco down and it made the perfect indisputable background and justification for all what happens If you should once visit Americas baby ( Germany) then welcome to my house: I`ve got some stories for you! see vids at youtube under same username
Germany -home of the US- liars and the conspiracies?
GOOD LUCK
Rod Reply:
April 12th, 2009 at 2:12 pm
Good idea, now all you have to do is convince everyone to start doing it at the same time.
Probablytoohard Reply:
April 12th, 2009 at 4:42 pm
It’s probably only wishful thinking. There are way too many people to try to convince. Go outside, drive to an intersection. Count every vehicle you see, multiply that amount by 2 (because usually there’s at least two people in most vehicles) and you get something like 80 people. Now think of that in every intersection and you get around such an insane amount of people to try to convince that the thought of trying would just make you nuts. Add to that all the people in shopping plazas and wherever else, and you’ve got a population that’s too busy worrying about themselves to care. Give me a solution to that problem and maybe we could do something.
April 11th, 2009 at 11:08 am
1st
April 11th, 2009 at 11:31 am
Silentio. Its finished. I have resigned all hope. Hope is dangerous and doesn’t put food on the table. Next week is Easter week. I am going for a few days away with my girlfriend. When I come back, I am going to prepare for the collapse. It is coming soon.
April 11th, 2009 at 11:55 am
Things are getting really bad for me and my family. The cost of our property taxes alone have been a huge burdon over the past few years. The increasing cost of living is devastating. In fear of loosing our home I attempted to start a small home buisness with very little money to get it going. I made the website myself called purecig.com and have had a little luck. I fear it may be too little too late. But I will never give up hope.
April 11th, 2009 at 11:56 am
” Communism with the Mask Off ”
http://www.calvin.edu/academic/cas/gpa/goeb58.htm
April 11th, 2009 at 12:06 pm
Hi, I’m from Ireland. Good website. I predict that we will go down the tubes before you guys. I believe because we voted no for the Lisbon treaty our government is deliberately folding our country so the IMF can come in and rip up our Constitution. We delayed the New World Order’s agenda last year, so now the want to wipe us off the planet.
TennWalt Reply:
April 11th, 2009 at 7:51 pm
Go Ireland!!! My hat is off to all the Irish with a heart for freedom and the courage to fight for it…may we all join hands across this globe to fight those that would enslave us and murder our children and grandchildren no matter what country we may live in. Long live Liberty!
The Free Celt Reply:
April 12th, 2009 at 10:00 am
Thanks for your support Tenn. But our economy is going down the tubes rapidly.
EkO Reply:
April 12th, 2009 at 10:17 am
You and I must fight for our lives
You and I must fight to survive
April 11th, 2009 at 12:17 pm
“You Bring About… What You Think-About.”—WHAT are you THINKING-ABOUT? Are there any MENTALLY TOUGH Americans left anywhere out there???—Wake-Up the #1 Female Progressive talkshow host —> stephanie@stephaniemiller.com <—Thanks.
nwo hell Reply:
April 11th, 2009 at 1:25 pm
Stephanie Miller chastises her sidekick because he thinks people should have to show ID to vote.
April 11th, 2009 at 12:35 pm
You want to voice your opinion?
freemeninstitute.com gives everyday patriots a forum to express themselves.
Write & express yourself. Change is happening because of you!
April 11th, 2009 at 12:53 pm
f--- you, moderator, for deleting my z-e_it_g_e_i-s-t & k-n-i_g_h_t of m_a-l-t-a A_l-e_x J-o-n-e_s posts!
Realypissed Reply:
April 11th, 2009 at 10:06 pm
Now Now,
Its time for your pill again
April 11th, 2009 at 1:00 pm
What’s coming down the road ? Commercial Real Estate bust ! Credit Card bust !
Student Loan bust !
wikity Reply:
April 11th, 2009 at 3:19 pm
commercial real estate bust for sure. credit cards will probably be one of the last to go because people will continue to rely on them for emergency funds…
Jackson Reply:
April 11th, 2009 at 10:35 pm
Of course it’s the consumers fault, according to that asshole that wrote that previous article.
He refuses to acknowledge the fact that if Glass-Steagall were still in place, these bankers would not have able to build these ponzi schemes of predatory lending and the usurpation of everyone not in their club, in the first place, as designed.
April 11th, 2009 at 1:11 pm
I stopped payine my student loan already. its all gonna burst anyway i might as well save the money. instead of giving it to them then i buy food food food food ammo and anotther gun.
the Red Star Reply:
April 11th, 2009 at 1:30 pm
Just a word-up: Beware the Commie-Bolshevek-Repo-Man come to drag yer car away as payment.
wikity Reply:
April 11th, 2009 at 3:23 pm
i agree. BE CAREFUL with not paying student loans!! the vampire gets angry when you don’t let it suck on your neck!! not paying your student loans is akin to not paying the IRS! more power to you but beware
WhatHappened Reply:
April 11th, 2009 at 10:11 pm
Just shoot them in the head for stealing your personal property.
Sun of Nothing Reply:
April 12th, 2009 at 12:50 am
unfortunately, the way the law is written, nothing is your own. Fan-tas-tic.
wikity Reply:
April 11th, 2009 at 3:21 pm
i cut up all credit cards 2 years ago and began living within my means. i suggest everyone else do the same!! the credit cards are the last line of real life support for the banks. just quit using/paying them.
yoeman Reply:
April 11th, 2009 at 6:40 pm
http://cityyear.org/ obamas new youth corp?
DIY Reply:
April 12th, 2009 at 10:16 am
City Year does look like an obama youth brigade. I like how the lead sponsors are Americorps, Aramark, and Bank of America!
roaddog Reply:
April 11th, 2009 at 10:04 pm
Don’t jump the gun.
Wrather Reply:
April 12th, 2009 at 7:17 am
You went to college, and your spelling is ATROCIOUS!! Wow, another “educated idiot”, perhaps you should ask for your money back! Please learn how to spell BEFORE posting anything! WOW, how sad it is!
DIY Reply:
April 12th, 2009 at 10:26 am
University is a joke, that is why I walked out when my scholarship ran dry. I refuse to pay $3,750 a semester to take trick question tests with bad grammar and misspellings because the professor was too lazy to proof read their exams. I also refuse to write 11 page essays on the professor’s colleagues theories that are only accepted in small academic circles.
Community College I do recommend if you have a scholarship. Most of the professors are nice and very interested in you succeeding. Hey, Alex even got his start with talk radio by going to community college. I started to wake up because of going. I had an English professor that talked about MK-Ultra, the fall of the Roman Empire, the same special interest groups funding both political parties, GMO foods, the ills of Western medicine, alternative energies, all kinds of stuff.
April 11th, 2009 at 1:26 pm
Nation’s bust. Earth bust.
April 11th, 2009 at 2:18 pm
http://www.youtube.com/watch?v=kUm2LHtPpOY
April 11th, 2009 at 2:44 pm
Cashbreaker,
excellent post.
April 11th, 2009 at 3:40 pm
I believe that the metaphor linking this financial collapse to a controlled demolition real is perfect. I was reading this article and thinking of each month that passes as another floor of a 70 story building hitting the ground. Every month we find out about more toxic assets and what the bankers are doing to keep the valuation of these assets artificially high when in reality they have zero market value. So every month it gets worse and worse and worse and so on.
The metaphor of controlled demolition works on all levels. For example, once it has begun it cannot be stopped. After the demolition is complete we are left with a pile of rubble (our economy and however the horrors of the implosion may manifest themselves). Then we are left with the task of shipping out the rubble which will probably take several years (WWW III anyone???) And finally, we are left with the task of rebuilding something in place of the fallen 70 story building. Will it be a giant prison funded by a no-bid contract from the New World Order bankers, or will it be a shining 100 story tall obelisk of freedom built by the likes of the freedom movement warriors?
We hear so often about self-fulfilling prophecies. Let’s make the freedom movement a self-fulfilling prophecy by keeping our heads up and charging fearlessly into the NWO inforwar frontlines.
April 11th, 2009 at 4:03 pm
Buy a good bicycle,and the tools to maintain it,maybe two bikes so you have one for parts.
It isn’t illegal to be homeless,I have been for 5 years,technically.I have everything I need to get by,too many bikes though.
I had a job until recently.
It don’t really care anymore.
But then I do.
I guess…..
April 11th, 2009 at 4:29 pm
The economy will recover …. when,,,, folks can earn enough money to pay off their existing debt, save 10 % and spend the rest. When they can afford to get a secound morgage on their house and spend it on a new boat.
fat Chance !
The fact is this. The economy cannot recover with out spending. To have spending the banks must loan credit ( money ) into the economy. To loan the credit, folks must be able to pay the credit back with interest, and the jobs in the Western World have been shipped to China, and India, and the wages have been stripped away.
No wages=no spending= no recovery.
The global economyy will recover when THEY in the emerging markets can spend. Then, we will have jobs serving them,,,,, 25 cents an hour, and a bowl of rice.
Get used to poverty folks. Only the rich will have anything, and that is not us. Learn to live like the people in Mexico, and Russia.
wikity Reply:
April 11th, 2009 at 5:50 pm
I think you are right about everything except that we will working for 25 cents an hour to serve the citizens of some other nation. If you buy into the “world is flat” theory — the reality of which is everyone will be 3rd world slaves soon enough — then we will not be working to serve another nation because we will all be on the same poverty level. This by the way, is the EXACT plan that the NWO bankers have for us. Under this system we will be working to serve the top .01% of the population and if we’re lucky we’ll all get to keep 20% of our income.
Of course this is NOT GOING TO HAPPEN because we are going to stop them!!
April 11th, 2009 at 5:02 pm
http://www.youtube.com/watch?v…..re=related
MUST SEE!WOWOWOW!! POLICE BRUTALITY!!!
jesuswon Reply:
April 11th, 2009 at 5:33 pm
CORRECTION!! THIS ADRESS GOOD WON!lol
http://www.youtube.com/watch?v.....re=related
f---in - A !! Reply:
April 11th, 2009 at 5:57 pm
lard ass pigs
Patriot to the Core Reply:
April 11th, 2009 at 7:56 pm
Ha Ha Ha this is quite possibly my favorite video. These pigs get what they deserved! My least favorite part is that they survived! These bags of s--- were obviously abusing their power, and kudos to the goalie for stepping in. See how these pussies run when THEY are out numbered! Ha Ha Ha Ha Ha! LOL. So great. To bad they didn’t die though. That would teach a lesson to LE that my property taxes pay them to help us, not boost their egos. I have great respect for great cops, and wish death upon bad cops. f---ing die you f---ing fascists. Keep this in mind folks, stand up for each other, and the bad pigs can’t help but run for the hills.
Oh, and open invitation to cops: Come take my “2nd Amendment” away from me when your Messiah Obama orders you to. May God have mercy on you… Because I won’t.
roaddog Reply:
April 11th, 2009 at 10:01 pm
Great vid!!LOL f--- them cops. Obviously that country dosen’t have flouride in their water. Kick ass.
one of many Reply:
April 12th, 2009 at 10:06 am
That is one of the best videos I have seen in a long time.
A far reaching statement indeed…
Will ‘we’ come to our brother’s aid or not??????????
DIY Reply:
April 12th, 2009 at 10:31 am
I hate the pigs. I love that video because the pigs were beating up that dissident, and the police got out numbered by the angry crowd. We should do the same thing, when the pigs set up a “DUI” checkpoint or any other roadblock, we should rush it and kick their ass!
April 11th, 2009 at 6:11 pm
No End In Sight , that is right, only and only unitl, the super blue blooded bastards of this world want to end it and only then it will end and what you want to see is light at end of the tunnel but what you get is light from the freight train that is coming for those that sleep on the tracks.
April 11th, 2009 at 6:20 pm
The whole is going down folks!
There’s NO STOPPING IT NOW.
Time to “re-boot” the world.
It dump the current paradigm and GO GREEN!
Brace for impact!
April 11th, 2009 at 6:21 pm
the whole thing is going down folks!
There’s NO stopping it now.
Brace for impact.
the world is going green or it will die!
April 11th, 2009 at 6:38 pm
anyone notice this new “youth corp”? i saw the ad on the tv
http://cityyear.org/
April 11th, 2009 at 6:58 pm
That’s the problem with ” blackholes ” , no end in sight , and no point tryin’ to reason with them !!!
HillbillyJihad&theBubbaLiberationFront Reply:
April 12th, 2009 at 12:39 am
Word!!! “All ‘HAIL’ Thermal Expansion!!!”
Sir Baby De Porky Reply:
April 12th, 2009 at 7:47 am
Namaste Gurudev !!!
April 11th, 2009 at 7:30 pm
To be honest I don’t think there is anything we can do, the “truthers” are very small compared to the rest of the world.
No money will not work because people like money to much, you also need it pretty much. Yes you could live in a tent nicking food out of Bins I guess. Maybe that’s a good life.
But no, I don’t really see anyway out of it because there are to many ignorant people.
Maybe actually they have the right idea, maybe its good to be ignorant. we can’t change anything so its going to be really horrible to see our worse fears come true.
But the ignorant people will live in well blissful ignorance.
Yeah i’m kind of depressed but I really can’t see how we can fight these people, they seem so high up the ivory tower.
WhatHappened Reply:
April 11th, 2009 at 10:14 pm
Oh there is a way, but its politically incorrect.
April 11th, 2009 at 8:22 pm
This is classic. It shows how much discomfort just two people can cause one of these leaches.
http://www.butasforme.com/2009.....rs-protest
I’m for a much more direct form of confrontation, but hey, this still brought a smile to my face.
April 11th, 2009 at 9:10 pm
The money changers/bankers have always used the money as a weapon. Everyone is a target as everyone uses money.
April 11th, 2009 at 9:18 pm
These people are on drugs. The Carter years were much worse with double digit unemployment and double digit inflation. With the economic deficiet nonpolicy the Gov is persuing, It WILL be much worse in another year. You ain’t seen notin yet!
April 11th, 2009 at 9:58 pm
i’ve been visiting this site some time now. Here recently I’ve had second thoughts if these were “conspiracy theories” Some things seem REALLY far fetched at times. But that’s beside the point.. the reason I posted is to say….
Too many people here bitch and moan and say get ready, s--- is gonna hit the fan…..I say give me the address and photos of these filty bastards and help me get there, and I’ll do the rest. I’ll rub their brains all over the next victim…………are we gonna be pussies or are we gonna do something. I hate lazy, ignorant people.
WhatHappened Reply:
April 11th, 2009 at 10:15 pm
Alex does not approve of such un pussy like activity.
DIY Reply:
April 12th, 2009 at 10:35 am
Infowars isn’t conspiracy theories. Open political corruption and bankers setting up a neo-feudal society aren’t conspiracy theories, because it’s bragged about in mainstream press, and in the elites’ autobiographies.
April 11th, 2009 at 11:58 pm
http://www.youtube.com/watch?v=kUm2LHtPpOY .
April 12th, 2009 at 1:35 am
Did not anyone notice in this article that the top five ‘financial instituitions’ in America have $196 trill. in derivatives? Not billion but trillion according the article (maybe the trillion is a typo it would make more sense if it was a billion) If it is a trillion why don’t they help the the gov’t in it’s deficit struggles or the struggling auto sector or the struggling unemployed or cash strapped employed? No, No, No a modern western ‘financial instituition’ could never help anyone. Oh the depths to have which we have fallen! The ISLAMIC BANKING SYSTEM/WAY is a much more progressive one than the WESTERN BANKING SYSTEM OF DEBT/CREDIT and may actually be one of the few models that we could use to promote price stability in the economy. As a matter of fact the ISLAMIC SYSTEM may actually be an adaption of the early Christian system. You know back in the days when Chrisitians actually knew Christ ~100 AD-300AD(not that there are real Christians out there). Also, ANCIENT ISRAEL was told by God not to follow the practise of usury. The rising church of the REFORMATION also condemned the practise of usury.
April 12th, 2009 at 3:03 am
cashbreaker
year 0 cambodia was without money
April 12th, 2009 at 7:58 am
But wait…it can’t be so dire – our gutless wuss in the Whitehouse says he sees “A glimmer of Hope” – just a glimmer mind you, but it’s something! The whole lot on Capital Hill and in the Whitehouse needs to be tried for treason and extortion. Bamby blames Bush…Pelosi & ilk blame the Republicans, but these bleeding heart liberals who have padded their pockets with payoffs from these corrupt corporations, are to blame! Communist pigs have invaded the top branches of government and we the people put them there! What in the hell were American’s thinking?
April 12th, 2009 at 8:06 am
Look what’s happening in Thailand with all the civil unrest. And their religion is Buddhism. This crisis is only starting.
April 12th, 2009 at 10:20 am
Ask DC & the CEO’s where the US factories went.
Perot warned us in ‘92 & ‘96
April 12th, 2009 at 11:47 am
Alex, where do you get your resolve? You’ve been trying to wake up the masses for years and endured all the BS criticism. I have been posting truths on Yahoo News blogs and informing those I know personally to very little avail. Alex, I applaud you and your uquenching fire.
April 12th, 2009 at 12:29 pm
This is not capitalism… http://truthalert.net/Capitalism.htm