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This is No Recession: It’s a Planned Demolition
- Text size
Infowars
August 11, 2009
Credit is not flowing. In fact, credit is contracting. That means things aren’t getting better; they’re getting worse. When credit contracts in a consumer-driven economy, bad things happen. Business investment drops, unemployment soars, earnings plunge, and GDP shrinks. The Fed has spent more than a trillion dollars trying to get consumers to start borrowing again, but without success. The country’s credit engines are grinding to a halt.
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| Bernanke has pulled out all the stops. | |
Bernanke has increased excess reserves in the banking system by $800 billion, but lending is still slow. The banks are hoarding capital in order to deal with the losses from toxic assets, non performing loans, and a $3.5 trillion commercial real estate bubble that’s following housing into the toilet. That’s why the rate of bank failures is accelerating. 2010 will be even worse; the list is growing. It’s a bloodbath.
The standards for conventional loans have gotten tougher while the pool of qualified credit-worthy borrowers has shrunk. That means less credit flowing into the system. The shadow banking system has been hobbled by the freeze in securitization and only provides a trifling portion of the credit needed to grow the economy. Bernanke’s initiatives haven’t made a bit of difference. Credit continues to shrivel.
The S&P 500 is up 50 percent from its March lows. The financials, retail, materials and industrials are leading the pack. It’s a “Green Shoots” Bear market rally fueled by the Fed’s Quantitative Easing (QE) which is forcing liquidity into the financial system and lifting equities. The same thing happened during the Great Depression. Stocks surged after 1929. Then the prevailing trend took hold and dragged the Dow down 89 percent from its earlier highs. The S&P’s March lows will be tested before the recession is over. Systemwide deleveraging is ongoing. That won’t change.
No one is fooled by the fireworks on Wall Street. Consumer confidence continues to plummet. Everyone knows things are bad. Everyone knows the media is lying. Credit is contracting; the economy’s life’s blood has slowed to a trickle. The economy is headed for a hard landing.
Bernanke has pulled out all the stops. He’s lowered interest rates to zero, backstopped the entire financial system with $13 trillion, propped up insolvent financial institutions and monetized $1 trillion in mortgage-backed securities and US sovereign debt. Nothing has worked. Wages are falling, banks are cutting lines of credit, retirement savings have been slashed in half, and home equity losses continue to mount. Living standards can no longer be bandaged together with VISA or Diners Club cards. Household spending has to fit within one’s salary. That’s why retail, travel, home improvement, luxury items and hotels are all down double-digits. The easy money has dried up.
According to Bloomberg:
“Borrowing by U.S. consumers dropped in June for the fifth straight month as the unemployment rate rose, getting loans remained difficult and households put off major purchases. Consumer credit fell $10.3 billion, or 4.92 percent at an annual rate, to $2.5 trillion, according to a Federal Reserve report released today in Washington. Credit dropped by $5.38 billion in May, more than previously estimated. The series of declines is the longest since 1991.
A jobless rate near the highest in 26 years, stagnant wages and falling home values mean consumer spending… will take time to recover even as the recession eases. Incomes fell the most in four years in June as one-time transfer payments from the Obama administration’s stimulus plan dried up, and unemployment is forecast to exceed 10 percent next year before retreating.” (Bloomberg)
What a mess. The Fed has assumed near-dictatorial powers to fight a monster of its own making, and achieved nothing. The real economy is still dead in the water. Bernanke is not getting any traction from his zero-percent interest rates. His monetization program (QE) is just scaring off foreign creditors. On Friday, Marketwatch reported:
“The Federal Reserve will probably allow its $300 billion Treasury-buying program to end over the next six weeks as signs of a housing recovery prompt the central bank to unwind one its most aggressive and unusual interventions into financial markets, big bond dealers say.”
Right. Does anyone believe the housing market is recovering? If so, please check out this chart and keep in mind that, in the first 6 months of 2009, there have already been 1.9 million foreclosures.
The Fed is abandoning the printing presses (presumably) because China told Geithner to stop printing money or they’d sell their US Treasuries. It’s a wake-up call to Bernanke that the power is shifting from Washington to Beijing.
That puts Bernanke in a pickle. If he stops printing; interest rates will skyrocket, stocks will crash and housing prices will tumble. But if he continues QE, China will dump their Treasuries and the greenback will vanish in a poof of smoke. Either way, the malaise in the credit markets will persist and personal consumption will continue to sputter.
The basic problem is that consumers are buried beneath a mountain of debt and have no choice except to curtail their spending and begin to save. Currently, the the ratio of debt to personal disposable income, is 128% just a tad below its all-time high of 133% in 2007. According to the Federal Reserve Bank of San Francisco’s “Economic Letter: US Household Deleveraging and Future Consumption Growth”:
“The combination of higher debt and lower saving enabled personal consumption expenditures to grow faster than disposable income, providing a significant boost to U.S. economic growth over the period. In the long-run, however, consumption cannot grow faster than income because there is an upper limit to how much debt households can service, based on their incomes. For many U.S. households, current debt levels appear too high, as evidenced by the sharp rise in delinquencies and foreclosures in recent years. To achieve a sustainable level of debt relative to income, households may need to undergo a prolonged period of deleveraging, whereby debt is reduced and saving is increased.
- A d v e r t i s e m e n t
A careful reading of the FRBSF’s Economic Letter shows why the economy will not bounce back. It is mathematically impossible. We’ve reached peak credit; consumers have to deleverage and patch their balance sheets. Household wealth has slipped $14 trillion since the crisis began. Home equity has dropped to 41% (a new low) and joblessness is on the rise. By 2011, Duetsche Bank AG predicts that 48 percent of all homeowners with a mortgage will be underwater. As the equity position of homeowners deteriorates, banks will further tighten credit and foreclosures will mushroom.
The executive board of the IMF does not share Wall Street’s rosy view of the future, which is why it issued a memo that stated:
“Directors observed that the crisis will have important implications for the role of the United States in the global economy. The U.S. consumer is unlikely to play the role of global “buyer of last resort”— other regions will need to play an increased role in supporting global growth.”
The United States will not be the emerge as the center of global demand following the recession. Those days are over. The world is changing and the US role is getting smaller. As US markets become less attractive to foreign exporters, the dollar will lose its position as the world’s reserve currency. As goes the dollar, so goes the empire. Want some advice: Learn Mandarin.
SAGGING EMPLOYMENT: A “no new jobs” recovery
July’s employment numbers came in better than expected (negative 247,000) lowering total unemployment from 9.5% to 9.4%. That’s good. Things are getting worse at a slower pace. What’s striking about the BLS report is that there’s no jobs-surge in any sector of the economy. No signs of life. Outsourcing and offshoring are ongoing, and downsizing is the new path to profitability. Businesses everywhere are anticipating weaker demand. The jobs report is a one-off event; a lull in the storm before the layoffs resume.
Unemployment is rising, wages are falling and credit is contracting. In other words, the system is working exactly as designed. All the money is flowing upwards to the gangsters at the top. Here’s an excerpt from a recent Don Monkerud article that sums it all up:
“During eight years of the Bush Administration, the 400 richest Americans, who now own more than the bottom 150 million Americans, increased their net worth by $700 billion. In 2005, the top one percent claimed 22 percent of the national income, while the top ten percent took half of the total income, the largest share since 1928
Over 40 percent of GNP comes from Fortune 500 companies. According to the World Institute for Development Economics Research, the 500 largest conglomerates in the U.S. “control over two-thirds of the business resources, employ two-thirds of the industrial workers, account for 60 percent of the sales, and collect over 70 percent of the profits.”
… In 1955, IRS records indicated the 400 richest people in the country were worth an average $12.6 million, adjusted for inflation. In 2006, the 400 richest increased their average to $263 million, representing an epochal shift of wealth upward in the U.S.” “Wealth Inequality destroys US Ideals”
Working people are not being crushed by accident, but according to plan. It is the way the system is supposed to work. Bernanke knows that sustained demand requires higher wages and a vital middle class. But what does he care. He’s not a public servant. He works for the banks. That’s why the Fed’s monetary policies reflect the goals of the investor class. Bubblenomics is not the way to a strong/sustainable economy, but it is an effective tool for shifting wealth from one class to another. The Fed’s job is to facilitate that objective, which is why the economy is headed for the rocks.
The free market is a sham to conceal the crimes of the rich. Read Taibbi. Read Marx. Karl, not Groucho.
The financial meltdown is the logical outcome of the Fed’s monetary policies. That’s why it’s a mistake to call the current slump a “recession”. It’s not. It’s a planned demolition.
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August 11th, 2009 at 11:53 am
{begoin sarcasm} No s---, really??? {/end sarcasm}
TX Reply:
August 11th, 2009 at 11:53 am
*begin
EU-Lex Reply:
August 11th, 2009 at 12:23 pm
http://www.schiffforsenate.com/
Like Ron Paul, then visit the site above.
Unconquered Reply:
August 11th, 2009 at 2:04 pm
Hey Lex, have you seen this? Outrageous and completely unprofessional from MSNBC. I sent them an email to let them know this is unacceptable and that I was going to no longer watch them. I don’t but the idea that they’ve just lost another viewer is enough to make them s--- their pants.
http://hotair.com/archives/200.....interview/
Joe M Reply:
August 11th, 2009 at 6:13 pm
Peter Schiff showed alot of poise and self control with that meglo-maniac screaming at
him every single time Schiff tried to respond to an accusation. They weren’t even questions,
but O’Donnnel was trying to jam words and lies down Schiff’s throat.
As a matter of fact, it WASN’T an interview but a planned character
assassination. Schiff held very well against that hurricane of bulls--- O’Donnel was spewing.
What an a’hole!!!
Schiff should have turned to the camera to do an ‘Oliver Hardy’ grab and straighten his
tie, shake his head, and do a heavy sigh. Then then get up and walk away.
The Rock Reply:
August 12th, 2009 at 9:21 am
looked like an o reilly factor interview
EU-Lex Reply:
August 12th, 2009 at 11:06 am
Poor Peter he tries to explain to a caveman that the Earth is not flat.
I'm with Peter Schiff Reply:
August 12th, 2009 at 12:09 pm
Ed’s a bitch, I hope he’s the one of the first 10,000 to get careened by a U.N. Tank.
I'm with Peter Schiff Reply:
August 12th, 2009 at 12:16 pm
Oh, Lawrence O’donnell I curse you too! Your an elitest cockroach I see.
Get em boy’s!
john Reply:
August 11th, 2009 at 12:23 pm
*be-gone!
jim from FL Reply:
August 11th, 2009 at 12:32 pm
unleash a HURRICANE of fliers under windshield wipers world-wide .
Wrothchild Reply:
August 11th, 2009 at 7:39 pm
Not a bad idea with the fliers. We have to do more, step up the game.
Fight internet censorship.
http://www.wrothchild.blogspot.com
juror13 Reply:
August 11th, 2009 at 12:07 pm
“This is’nt a shakedown…it’s a takedown!” – Steven Qualye
fluid75 Reply:
August 11th, 2009 at 12:47 pm
Important to note that the chart is for Orange County in California and not for the country. Do you have something for the nation as a whole?
GONZOLONG Reply:
August 11th, 2009 at 2:50 pm
Probably gonna look pretty much the same, I would imagine…
Tren Reply:
August 12th, 2009 at 12:18 am
That’s a pretty dirty trick, if that is indeed only the O.C. foreclosure data on that chart. I expect nothing less from this site, however.
John Smith Reply:
August 11th, 2009 at 6:37 pm
This is a very well written and researched article. Great job Mike Whitney. Thank you!
jim from FL Reply:
August 11th, 2009 at 9:03 pm
“They shoot you in the arm , they shoot you in the head, either way, you end up dead.”-Steve Quayle….warn everyone not to take the vaccine, put your fliers under windshield wipers…this is the calm before the storm, don`t let it catch you by surprise( or anyone else)
End Tyranny Reply:
August 12th, 2009 at 9:34 am
End the tyranny!!!! Bring down the BIS. http://www.bis.org
August 11th, 2009 at 11:53 am
I pegged Obama as an enemy of the state over a year ago. But I completely disagree with Mr. Whitney’s stance that a free market is a sham and that Karl Marx is some kind of hero. History, on every scale, teaches us otherwise.
Kayhla Reply:
August 11th, 2009 at 12:09 pm
Karl Marx was a tool, but you gotta admit that the “free market” is not free. So it begs the question: in a capitalist society in which the market-based economy is being drastically manipulated, how can anybody truly be free? The answer is not a pleasant one…
Mace from SA Reply:
August 11th, 2009 at 12:27 pm
I agree. Capitalism is the only market in which individuals have rights. If this free market is being controlled, then our rights face the threat of being controlled, just like the economy.
IGOR Reply:
August 11th, 2009 at 1:35 pm
Hey question out there; Is Cuba part of the banking cartel or Russia? Anyone?
Ivan_The_Terrible Reply:
August 11th, 2009 at 2:28 pm
entire world is a part of integrated banking system except North Korea
madman Reply:
August 11th, 2009 at 7:56 pm
Ivan, that explains why North Korea acts and has more balls than any other Nation. You can’t kill their currency, if they control it.
Makes sense that the NWO and Banking cartels would want to break them, and get them in the mix.
Voice of the Republic Reply:
August 11th, 2009 at 8:44 pm
We really don’t know, except in limited cases, which National Central Banks are part of the International Banking Cartel of which the misnamed “Federal Reserve” is a part: this is at least part of the impetus behind the “audit the Fed” movement, spearheaded by Congressman Ron Paul. It HAS come out that the Russian Central Bank is part of the Cartel (or at least it WAS, during the Soviet Union days), but as for Cuba and North Korea, we really don’t know, for sure.
If nothing else, this news story tends to confirm the 9/11 Truth movement. It’s part of the Bankster “M.O.”: “…a planned demolition…”!
martin Reply:
August 11th, 2009 at 11:20 pm
hey igor,
if you want to know who is really in charge, and what is really going on, go buy the book “the synagogue of SATAN”.
THE POWERS TO BE, THE ILLUMINATI, OWN THE FEDERAL RESERVE. THE FEDERAL RESERVE PROVIDES ALL THE MONEY IN THE WORLD TO THE WORLD BANKS AND THE IMF. tHE FEDERAL RESERVE PROVIDES ALL THE MONEY IN THE WORLD TO ALL BUT 4 COUNTRIES. CUBA, SUDAN, IRAN, AND NORTH KOREA. YOU SHOULD NOT FIND IT STRANGE THAT WE ARE AT SOME TYPE OF WAR WITH THESE COUNTRIES. IRAQ USE TO BE ON THAT LIST!!!!
suz Reply:
August 12th, 2009 at 6:11 am
iran hasnt got a central bank either
crazycanuck Reply:
August 12th, 2009 at 2:32 am
Unfettered Capitalism is dangerous. Think hard about what is capital? It is an economy that works by investment. No investment, no economy and that is nothing but a very hard cowpie. If ‘we the people’ do not control the money supply and how the money is spent than ‘we the people’ will always have a big banker’s axe at our heads.
level6 Reply:
August 11th, 2009 at 1:20 pm
if the money that the markets and economy are based on is at its core fraudulent and manipulated, how could we possibly expect the markets and systems based on it to be “free” or legitimate? the time has come…. the dollar will die…. with it the market–economy—possibly society. the question in my mind is …. what does it get replaced with? do we allow them to give us the new system? we all know what that is. maybe we should really work on a plan to restore a real monetary system first….. then build an economy based on real value, instead of smoke and mirrors. BTW: to quote george carlin ” rights arent rights if someone can take them away from you.” Id say our “freemarket rights” have been removed.
Land of the Free? Reply:
August 12th, 2009 at 1:02 pm
‘We’, that word brings thoughts parasitic elements to the mind doesn’t it. Well then ‘We’ should not be suprised our hosts are hell bent on exterminating us should it? Should it!
Be individuals, be free thinkers, be independent, be valiant, suck the blood from someone else, or quit whining when the blood makes you sick, or kills you.
‘We’ should be voluntary, temporary always, equate-never forced or permenant.
This is true about all things, beings, are self-operative, motivated, & interested..Naturally.
Submit, or don’t, your purpose will be given in the course of these divides, trust me.
Land of the Free? Reply:
August 12th, 2009 at 1:08 pm
Oh, give me liberty- (no one tells me what to do, how to live, what to think, what to say) or give me the ladder- (death).
August 11th, 2009 at 11:54 am
first1
IBSammyG Reply:
August 11th, 2009 at 12:17 pm
Douche Bag
Finger Reply:
August 11th, 2009 at 2:56 pm
Phew….whats that smell ?????
IGOR Reply:
August 11th, 2009 at 4:46 pm
WOW dude!!!! so your mother was FIRST to s--- you out of her ass hole!!! awesome !!!!awesome!!! whats next 2nd no no no beter 3rd..4th….hell take the helm you know best!!!!! hell we are are dum very dum! and yet you will always be First….ass wipe!!!
August 11th, 2009 at 11:54 am
damn! . . . . . . 5th . . .
IBSammyG Reply:
August 11th, 2009 at 12:17 pm
Still a Douche bag
August 11th, 2009 at 11:59 am
Your not first. Quit the crap man.
August 11th, 2009 at 11:59 am
It has to be a purposefull planned destruction of the US. Just explain to anyone who will listen;
1. Unrestricted illegal immigration
2. Making us even MORE dependent on foreign energy
3. Dismantling our manufactoring base
4. Increasing deficiet spending by almost TEN TIMES!
wooblues Reply:
August 12th, 2009 at 8:23 am
Yo,,dont forget the family the very mortar of social stability.
August 11th, 2009 at 12:01 pm
It’s definitely going down the drain. This “recession” is not getting better like they say on mainstream media. It’s only getting worse.
KontroleCentrale Reply:
August 11th, 2009 at 5:09 pm
What did they do with all the US gold in Fort Knox?
Maybe you should watch this;
http://www.youtube.com/watch?v=u03TfQN1pXo
August 11th, 2009 at 12:02 pm
Identify the traitors in our govt and financial systems, put them to trial, charge them, and execute them for treason.
August 11th, 2009 at 12:10 pm
dis/mis info the republic is dead if we believe its dead, if “WE THE PEOPLE”, kow down yes the republic is dead, when this republic is re-newed we need write in a new constitutiion tha bankers are “ILLEGITAMATE” to the prosperity of a common economic infrastructure, concerning all
August 11th, 2009 at 12:11 pm
After the political conventions, obama’s numbers were dropping fast. Then, just a week before the first debate, Wall Street and the banks began to collapse. Now I won’t say that obama was 100% but, (in his own words) “We can’t let a good crisis go to waste.” Always remember the Larin phrase, Cui Bono – to whose benefit.
Guy/Michael/Arch Angel Reply:
August 11th, 2009 at 12:44 pm
Go to russelmeans.com the lakota nation who With dreq from the US Treaties I belive we must fight for your and mine Childrens Keep your hands of Me! Take the Newsmediaa and Contacy them to dig a hole to china and die in hell on the way!
August 11th, 2009 at 12:17 pm
yes
August 11th, 2009 at 12:18 pm
White people will just blame the muslims for their own demise, since white people never do anything wrong!
hadenough Reply:
August 11th, 2009 at 3:04 pm
jkl: White people will blame Muslims for own demise.
That’s strange, I thought this was about Americans. Why do you insist on pulling that stupid race card? You know it does not work anymore, don’t you? Whitey don’t play that game anymore.
Try some logic
Mr Ventura Reply:
August 12th, 2009 at 9:35 am
JKLs been fudgin’, he’s been fudgin’ since day 1 in this election
August 11th, 2009 at 12:21 pm
Fight Club
Project Mayhem
The bombs detonate and, holding hands, the two witness the destruction of the entire financial city block through the windows.
THE REAL TYLER DURDEN Reply:
August 11th, 2009 at 1:10 pm
THE FIRST RULE OF FIGHT CLUB IS THAT YOU DONT TALK ABOUT FIGHT CLUB SILLY!!
August 11th, 2009 at 12:26 pm
Anyone who has increased their wealth that much since 2001 needs looking at as a criminal investigation.
August 11th, 2009 at 12:27 pm
Unknown Soldier is cute isn’t he? Awww..
August 11th, 2009 at 12:27 pm
Roses are red
Violets are blue
Democrats & Republicans
Have not a clue
If only I knew
Of the economic fall
I surely would’ve voted for Ron Paul
August 11th, 2009 at 12:34 pm
The sheep are still sleeping…..
Geolibertarian Reply:
August 12th, 2009 at 7:54 am
Yup, and that’s why the bankers are gonna take everything they got.
Only when they (the sheeple) find themselves out of job and home will they *finally* awaken to reality.
But by then, of course, it will not only be too late, but WAY too late to do anything about it.
And in the process of waiting until it’s too late, the TV-addicted, distraction-obsessed masses will be dragging the rest of us right over the cliff with them. (And they’ll probably be on their friggin CELL PHONES the whole way down!)
Thanks a bunch, sheeple!
August 11th, 2009 at 12:35 pm
As for us, we only use a bank for cashing the paychecks. Buy everything cash and carry. No credit/debit cards, no writing checks. CASH ONLY! We are paying our bills with free MO from the bank where we have a minimal account. WHEN the banking system takes a holiday, or crashes, which ever comes first, we won’t be waiting for a promise, or piling up late fees on bills that are due. Good Luck to all ya all.
Highlanderess Reply:
August 11th, 2009 at 12:54 pm
Does anyone believe in the Aug/Sept 09 bank collapse rumors?
Finger Reply:
August 11th, 2009 at 2:59 pm
HUH ? … What you smokin G ??
Voice of the Republic Reply:
August 11th, 2009 at 8:59 pm
The “9/9/09″ Occult date to “pull” (detonate) the US Economy (and the dollar) seems to be a DISTINCT possibility: these Banksters are mostly Luciferians, so it all tracks. Some people will think of the anniversary of 9/11 as a possibility, but that date is TOO obvious: the Banksters want to crash it all, a couple of days early, to catch as many “suckers” as possible!…:-(
crazycanuck Reply:
August 12th, 2009 at 2:42 am
Plausible.
August 11th, 2009 at 12:54 pm
luke 18:25 and read: ephisians 6:12 because we have a wrestling, not against blood and flesh, but against the governments, against the authorities, against the world rulers of this darkness against the wicked spirit forces in the heavenly places 13:on this account take up a complete suit of armor from God that you may be able to resist the wicked day and,after you have done all the things thoroughly, to stand firm.
PATRICK HENRY Reply:
August 11th, 2009 at 1:13 pm
Good post. Instead of all the griping on this site, an army crying out to God for direction and taking back what the enemy has taken in the spiritual would do much more. I still believe the tumblers of God’s timepiece have turned and we are not long for all of this. That being said, Give me liberty or give me Death!!
ramaytush Reply:
August 11th, 2009 at 6:11 pm
i will never worship a god whose name is on the same money that says novus ordo seclorum (new world order)
Voice of the Republic Reply:
August 11th, 2009 at 9:03 pm
notasheeple: RIGHT ON! ;-D
August 11th, 2009 at 12:58 pm
Bernanke Perjury? http://www.youtube.com/watch?v=WA9Rm77rq-4
Voice of the Republic Reply:
August 11th, 2009 at 9:28 pm
The fact that Bernanke lies should NOT surprise you. Whenever Bernanke or any of the rest of these Banksters lie, you can tell it easily: their mouth is moving…:-(
Should they be arrested and tried for their perjury? The answer is as obvious as their problem…
August 11th, 2009 at 1:00 pm
and my friends and family think im foolish for stocking up on EVERYTHING.
roaddog6 Reply:
August 11th, 2009 at 3:16 pm
“ren—jsut remember who they all are because they’ll be the first ones trying to steal your stockpile here shortly. I got food and water stocked up too and there’s only one person that knows it, and luckily he listens to alex jones too. If they make these vaccines mandatory, we might need a bracelet to get into grocery stores until the “flu” passes. For those of us that have stockpiles, you’re gonna have to learn to so no to everyone thats out looking for a handout.
mike Reply:
August 11th, 2009 at 7:34 pm
roaddog6 bro my family thinks the same they all think exept for my dad who is noiw just buying a gun me i already did that lol they think im talking bullshoit the goverment wont do this wont do that they will and are we need to stand up get ready stock up and get ready for the f---ed up ride of our lives
Geolibertarian Reply:
August 12th, 2009 at 8:01 am
> “my friends and family think im foolish for stocking up on EVERYTHING.”
Then your friends and family probably DESERVE to get economically ass-raped by the international bankers.
And they’ll have no one to blame but themselves when it happens, because they were either too cowardly or too self-righteous to face political and economic reality head on when there was still time to *do* something about it.
August 11th, 2009 at 1:04 pm
I find it interesting that some actually have the nerve to say the economy’s improving. Where? It’s not improved for me. There are businesses barely operating or shutting down all together in the small city I live in near Tampa FL. The city’s largest employer, Smithfield, laid off hundreds of people. My husband had me drive by the small Ford dealer near us yesterday and said asked me what I saw, and what I saw were hardly any vehicles for sale. The decent sized lumber yard near us has practically no lumber stocked. All their vehicles and forklifts are just sitting in the back.
Unconquered Reply:
August 11th, 2009 at 1:58 pm
Don’t believe the hype. The only people saying the economy is getting better are the global interests and their minions who spread disinformation. The market is up from March, there’s a slew of companies that are offering follow ons (post-IPO add’l share issues) underwritten by who? JP Morgan, Government Sachs, s---tibank, you get the picture. I saw a headline today from Reuters.tv that soros says us economy has bottomed thanks to the stimulus. CNBC, greenspan both says the recession is officially over.
Rewind to Daniel Estulin’s burgerbuilder ‘09 update earlier this year. Discussed plans for DC and Wall St. to continue to deceive millions of savers and investors and take the last of their money and sink the economy even worse. And what better way to do it than a false flag attack under the guise of a flu pandemic? That way the “experts” could say, “wow, we didn’t see that coming. had that not happened, we would have been right. Oh well. Too bad, so sad.”
mike65 Reply:
August 11th, 2009 at 2:14 pm
HIGH:I live in Florida myself and I live not to far away from Tampa myself.YES,things are not looking good here in our state.THAT lumber yard will probably be closing their doors soon.THE building boom that Florida has experienced in the past is over.
August 11th, 2009 at 1:06 pm
Change is coming and its going to get ugly!! Mad Max is around the corner!! FREEDOM or death….
August 11th, 2009 at 1:19 pm
I disagree on the technical terminology !!! We’re not talkin’ recession , or demolition , we’re
talking sodomy !!!
P.S. And you can forget the vaseline , them were the good ol’ days !!!
Unconquered Reply:
August 11th, 2009 at 2:00 pm
Vaseline is a petroleum product. Carbon tax it!!!!
Sir Baby De Porky Reply:
August 11th, 2009 at 2:13 pm
There we go again…
madman Reply:
August 11th, 2009 at 7:58 pm
What would Gay Jay Jay Say?
Sodomite!
August 11th, 2009 at 1:21 pm
WHY DO MY COMMENTS NEVER GET POSTED ANYMORE????
i keep posting and it never shows up
Highlanderess Reply:
August 11th, 2009 at 1:38 pm
It’s been happening to me too. You’re not alone.
Finger Reply:
August 11th, 2009 at 3:00 pm
Actually, yes he is
Sir Baby De Porky Reply:
August 11th, 2009 at 1:57 pm
Gubernment ” chat bots” , or vulnerabilities on your bin ( to where someone can monitor your
bin )
August 11th, 2009 at 1:23 pm
all your money(s) belongs to me in one way or another. you keep on forgetting …
August 11th, 2009 at 1:24 pm
Yesterday I sold off the last stocks I own and will never return to the market. Also, paid off Bank of Amerika credit card too right before the 0% offer expired. Now I’m going to be an unsqueezable rock in this economy – spending little, buying only necessities, shunning ALL debt, and avoiding taxes any way possible. I want to see their revenues drop off a cliff.
madman Reply:
August 11th, 2009 at 8:00 pm
Someone finally got it.. living within their means, without making other rich via the markets… spread that knowledge around to any that will listen.
Cudos.
August 11th, 2009 at 1:47 pm
It is no big trick to extrapolate the future of events, once the pattern has been set before us. Most everything in political arena right now, from the bailout to the Health Care bill is more than likely a done deal to step up the rate of the NWO’s agenda. The people who have engineered all of this look upon underlings like Obama, Pelosi and Conyers as mere tools, and tools wear out and get broken doing their job. They are easily replaced by others looking for power and money waiting in the wings of their various organizations world wide. Those who are pulling the worlds strings have spent millions of dollars for think tanks and have had decades to lay their plans into action and undoubtedly have a contingency plan waiting for every sort of variable that may crop up and have finally gone with a blitzkrieg tactic where they bombast the American public with a number of different issues that both distract and divide any sort of organized opposition to them. America’s economy may be doomed to collapse at this point in time, but Americans are masters at improvisation and will switch to an underground economy to supply them with needed goods and services. That will lead the government to pass yet more bills making such transactions that is not a legal transactions, eg. taxes being paid upon it, a felony rated as if it were treasonable offense by these new ‘Economic Terrorists’. Debtor’s prisons will be implemented and bulge with a steady flow of these ‘lawbreakers’ and the inmates will be at the mercy of their privatized mentors for whatever use the ‘MAN’ in charge deems useful to his own benefit, whether it be for scientific experimentation of forced labor.
IrishGal Reply:
August 11th, 2009 at 3:28 pm
Remember we are armed and ready. There are more of us than there are of them. They can not hide behind their mansion gates. Read the history of the French revolution and the Bolshevik revolution. Very small groups of people took down the pigs at the top. What we have to assure and commit to, is that we patriots will re-install our Constitutional government and not make the mistake that the French and the Bolsheviks made of instituting a tyranny to replace a tyranny. This will be extremely difficult to do because human nature is what it always has been. For all you God sceptics, this is where God is all important. God given inalienable rights are the source of our liberty. God instructed morality is the source of law that curbs tyranny. Whenever God as the source of our inherent freedom is replaced by the idea of humanism or that man rules in place of God, that is where you get tyranny, slavery, and death inflicted by corrupt, immoral despots like we have now. No matter what our petty differences we must commit to rebuilding our nation on the principles upon which it was founded. That is the only way we will return to political and economic freedom.
AKATheRake Reply:
August 11th, 2009 at 9:44 pm
Very sharp!!! But you know that.
August 11th, 2009 at 2:14 pm
I never knew Bernanke could smile. Maybe they should put white paint on him with lip stick.
Finger Reply:
August 11th, 2009 at 3:02 pm
Does this have anything to do with Vaseline ?
August 11th, 2009 at 2:41 pm
The american public,will be taken down to there knees three ways.just like they did kennedy. A triangle attack. to make them welcome in the N.A.U. 1. ECONOMY. take away there money.2. SWINE FLU. fear of disease. 3. IRAN. The cash for clunkers program was designed to cut oil consumption. So when Iran is attacked. the price of oil only goes up to $160 a barrel,instead $250. Travel is cut in half. All this adds up to a broke,scared,no traveling american begging for a North American Union.
madman Reply:
August 11th, 2009 at 8:03 pm
I was thinking that they could really cripple the economy like this…
Take away their money…
2, they have no money, so take away that new car … that they traded their paid for car in for, with the cash for clunkers.
3.Gas goes up to 250 a barrel, half the cars on the road are now repossessed, a few people who have to, drive, and charge the hell out of anyone for their service.
August 11th, 2009 at 2:48 pm
White people have stole hundreds of trillions – robbed the whole damn planet!!!
White Satanic Disorder!!!
"Redneck" Lady Reply:
August 11th, 2009 at 3:05 pm
Racist troll!
IrishGal Reply:
August 11th, 2009 at 3:33 pm
Get off it! You have no idea what the various races, religions and creeds make up all the bastards in the government, corporations and banks that have not this to all of us. Remember the people shafted in all of this are also of every race, religion and creed you can possibly think of. The power structure has gotten away with using this race divide and conquer crap for way too long. STOP BUYING INTO AND PERPETRATING THIS CRAP! There are evil people and their are good people. That is the only differentiation necessary in classifying people.
Mr Ventura Reply:
August 12th, 2009 at 9:38 am
nhjs been fudgin’, he’s been fudgin’ since day 1 in this election
August 11th, 2009 at 3:08 pm
Hasn’t this been obvious for a long time now? Its all for the Global Elites (Effetes) to have their one world plantation.
August 11th, 2009 at 3:42 pm
“You wouldn’t know a free market if it blew a horn in your face.” — Harpo Marx
August 11th, 2009 at 3:47 pm
House of Cards collapsing…
Falling Down…
Trainwreck in progress…
Crash course…
Into the Abyss…
This is the End…my only friend…
August 11th, 2009 at 4:23 pm
I have created a website within the last few days called” Children of Independence”; it is a very new site with only a few members, but I’m trying to change that. This is the site for you. This is not a group preaching rebellion or dissention. (though that is also our constitutional right) This is a group that simply wants their God given rights to be upheld by protecting the ideals of our forefathers that they instilled in the late 1700’s. This is a place where like-minded individuals can freely discuss their different views and how to achieve the goals of a better America. We do not and will not discriminate against ANY belief or ANY ethnicity or ANY age or ANY gender. America is the land of freedom, freedom to be human. And we want to keep it that way. We want to engage in INTELLEGENT discussion, and quite frankly, don’t have the time or patience for petty name calling and insulting posts. This is NOT the YouTube or InfoWars forum…we WILL monitor and delete all troll-like and childish comments or posts! You will not be censored for sharing your beliefs or views; nor will you be silenced based on who you are. Such topics can be about (but not limited to): Obamacare, NAU (North American Union), NWO (New World Order), Masons, September 11 2001, Tea Parties, Jesse Ventura, Ron Paul, Alex Jones, ANY type of religion or political belief (we want to hear from all sides), and especially how to solve our country’s problems. Remember keep it clean, no hitting below the belt…and let’s get some serious dialouge going. Please visit and sign up for a free account to show your support! Anyone can view the site, but only members can comment, post articles, write blogs, and upload pics/videos. Everything on this site will be placed there by us. The address is http://www.childrenofindependence.webs.com
August 11th, 2009 at 4:36 pm
http://video.google.com/videop.....&hl=en
JJ Reply:
August 11th, 2009 at 6:05 pm
UFO’S/Alien = propaganda, just like 9/11.. to bring in a one world government and population reduction purposes…
“FAKE ALIEN UFO ATTACK FALSE FLAG PLAN”
http://www.vloggingtheapocalyp.....deo_id=551
August 11th, 2009 at 4:40 pm
The barter system will have to replace our current system if we are to survive and gain independence. If you haven’t, learn a useful skill and sharpen it. It’ going to be the third world version of The Little House on the Prairie.
Geolibertarian Reply:
August 12th, 2009 at 8:13 am
> “It’ going to be the third world version of The Little House on the Prairie.
No, in major cities it’ll be Escape from New York, and in small towns it’ll be Mad Max Beyond Thunderdome — all with a 1984 police state overlay.
And brainwashed Obama cultists will be mindlessly accusing anyone who complains about it of being “racist.”
August 11th, 2009 at 5:29 pm
abolish the fed and the gestapo dhs…..
buy guns and ammo if you can afford them…..restore our Constitutional Republic…
August 11th, 2009 at 5:32 pm
I would just like to take a moment to comment.
August 11th, 2009 at 5:33 pm
Hop like a frog.
August 11th, 2009 at 5:37 pm
The endgame center of the one world govt will be in New Jerusalem, Israel.
August 11th, 2009 at 5:49 pm
9/11 is an inside job
August 11th, 2009 at 6:10 pm
These idiots would protest against water in the middle of the Saharan Desert as they were dehydrated to the point of near-death.
http://thinkprogress.org/2009/.....uninsured/
Right Wing’s Anti-Health Care Icon Is Uninsured, Seeking Donations To Pay For Care
August 11th, 2009 at 6:41 pm
Just got this off Steve Quayle’s site
Bank Closures
August 11, 2009
By Stephen Quayle
FYI, I had a conversation with my friend in international banking yesterday and tried to warn him about the impending bank holiday and currency exchange. He said that because he works with people at the top (Rothschilds and Rockefellers, etc) he would know if this were true. He did however confirm again that all central banks have been stocking up on the new Amero currency. I encouraged him to check out my info.
Well, I received this in an e-mail from him just a few hours after our phone conversation:
“As to your Bank Holiday information of this morning, the following is from a close CIA connection, the way it will come down is that starting 8/24, groups of banks will be closed in certain regions of the country for a week or so. They will open again, and then other groups of banks in different regions will be closed; and on and on it will go, until all the banks in the country have gone through that process.
The banks will be opened with a new global currency. Indeed the ratio will be 1 to 6, or 1 to 12. Thus, if you had formerly $6M in the Bank, after a ratio of 1 to 6 with the new currency, you will get 1M value in the supposed new legal tender.”
Time will tell, but this guy would not lightly say this, and he does have the CIA connections for the info.
My suggestion is that any of you who have much money in the bank might want to consider changing some of it to gold coins, Swiss francs or some other safer currency before the end of August.
madman Reply:
August 11th, 2009 at 8:07 pm
1 to 6, or 1 to 12, no wonder the elite have been stealing trillions, it’s only going to be worth 1/6th or 1/12th of what it originally was.
So they have to flood their coffers with cash, knowing that it was going to exchange for 1/12th of what it was worth… they had to pump up their accounts to 12 times what they normally had, to keep the same level of wealth under the new currency.
August 11th, 2009 at 7:05 pm
You WILL believe! You will like it and you will not resist!
August 11th, 2009 at 8:35 pm
They bailout the crooked bankers, then the bankers hord the money and won’t give out loans. Yes I would have to agree with the Title of this article, “it’s a planned Demolition”.
August 11th, 2009 at 9:23 pm
Bernanke wants to kill us all off so there’s nothing left but midget cross dressing transvestites.. so he can blow’em all day long.
August 11th, 2009 at 10:46 pm
Look out, it’s “Demolition Man” lol
August 11th, 2009 at 11:05 pm
Use your rights or you lose your rights. Don’t blame someone else if you are not happy. Change. Act. Stand up. Crawl out from behind your computer for a change.
August 11th, 2009 at 11:49 pm
Hey, Ben. You really ARE in a pickle aren’t you? If were to ask me (and you haven’t) the best solution I can think of is to find a pistol, point it upwards in your mouth and squeezing the trigger. By blowing your own f---ing head off, you will not only solve your own problem, you will solve ours.
August 12th, 2009 at 2:19 am
The US legislature is providing funding for a military occupation of Iraq that I don’t think that they have the legal authority for. The SOFA ratification expired when the referendum wasn’t held before the deadline.
August 12th, 2009 at 3:02 am
The majority of the US electorate dooesn’t want peace, prosperity and good government. They want perpetual war, conquest and a criminal government. That’s why they reelect the incumbency of evil 94% of the time.
August 12th, 2009 at 3:10 am
The reason for the forclosures, is that the Democrats pressed banks and other financial institutions into giving loans to people who simply could not service those mortagages. This isn’t rocket science, but it is “racket” science by the irresponsible and dictatorial liberal democrats.
Crito Reply:
August 12th, 2009 at 3:26 am
Yeah, it’s those damn poor people ruining it for the banksters. Only rich people who can afford luxury cars deserve bailouts. No clunkers for the poor. We’re crushing the essentials of life for them. They couldn’t afford the mandatory car insurance anyways so they don’t deserve to drive. Soon they won’t be able to afford the mandatory health insurance either, so only rich people will deserver to, uh, er, live.
And that’s the way it should be.
Geolibertarian Reply:
August 12th, 2009 at 8:45 am
> “The reason for the forclosures, is that the Democrats pressed banks and other financial institutions into giving loans to people who simply could not service those mortagages.”
Oh please, that is the same old canned talking point that idiot right-wingers have been parroting since last October — the notion that subprime mortgage borrowers (read: poor minorities) are who caused the financial meltdown.
The subprime mortgage bubble was never any higher than $1.4 trillion, yet the cost of the “bailout” has already reached $23.7 trillion! If subprime mortgage borrowers caused all this, then why is cost of the “bailout” SO MUCH HIGHER?
Because subprime mortgage borrowers *didn’t* cause this; the *bankers* did! How? By loaning out trillions of dollars they DIDN’T EVEN HAVE; by never creating the money needed to pay the usurious interest on all those inherently fraudulent “loans”; and by creating a quadrillion-dollar DERIVATIVES bubble (”derivatives” being nothing more than glorified gambling bets!) that utterly dwarfs not only the most liberal estimate of the U.S. money supply, but the annual productive output of the ENTIRE PLANET!
Yet despite all this, right-wing ideologues — particularly Austrian Schoolers — blindly and arrogantly blame the Main Street *victims* of this criminal fraud instead of the Wall Street culprits.
August 12th, 2009 at 3:35 am
I learned form personal experience that Jones exaggerates about CPS. I warned my friend when a problematic neighbor called CPS on him that they would take his kids away. He was so concerned and I told him this because I trusted the narrative of Jones. Guess what happened? CPS came and assured him that everything was fine and to ignore the neighbor making the false claims. My same friend knows a teacher who said that half the time CPS doesn’t even respond to claims. I lost my best friend because I trusted Infowars. He won’t talk to me because he thinks I’m out to get him. Thanks Alex, king of hyperbole!
Unconquered Reply:
August 12th, 2009 at 1:20 pm
Stop blaming Alex (or anyone else) for your problems. I don’t believe everything on this site. I’m confident in MOST of the info but I do my homework and vet anything that sounds fishy. But I also don’t think “one size fits all” and an incident in TX means its exactly the same outcome in FL. Think for yourself and do your own research. In this age of instant information there is no excuse if you don’t. Sure there’s a lot of bad information out there but you have a brain don’t you? Use it!
BTW, your story doesn’t make sense. If a “problematic neighbor” called CPS why would CPS come to your friend and say “ignore the neighbor making the false claim”? If CPS wasn’t going to do anything why would the come to your friend to assure him? Assure him of what? As far as CPS is concerned this is a non issue. If they don’t respond half the claims why would your friend shine the spotlight on this “false claim”?
If you lost “your best friend” because of this, your friend is an idiot. But with all due respect, that makes you the bigger idiot for continuing to come to a site that has caused you so much duress.
August 12th, 2009 at 3:37 am
“Yeah, it’s those damn poor people ruining it for the banksters. Only rich people who can afford luxury cars deserve bailouts. No clunkers for the poor. We’re crushing the essentials of life for them. They couldn’t afford the mandatory car insurance anyways so they don’t deserve to drive. Soon they won’t be able to afford the mandatory health insurance either, so only rich people will deserver to, uh, er, live.
And that’s the way it should be.”
Jones doesn’t have to worry because his father is a rich dentist and he has moneybombs when he can’t pay his bills.
Suez Reply:
August 12th, 2009 at 6:17 am
Idiot. Cash for clunkers is only to trick people to go into more debt. The Obamacare plan will make sure they receive even less care than they do now, and at a slower pace, and it will remove liability from the health insurance companies and put it on the government, on the people. It’s essentially a bailout.
August 12th, 2009 at 5:05 am
Its not just the the US economy. The Uk population have been sold a pup! so far £175 billion! of new money issued remains elusive and its a mystery where the money has gone? Perhaps Mr Mandelson has some clues after returning from his holiday in Corfu??
August 12th, 2009 at 6:13 am
1st
Unconquered Reply:
August 12th, 2009 at 3:01 pm
can you count?
(Oy vey! The public school system gets worse and worse every year!)
August 12th, 2009 at 6:36 am
Dear Mr. Jones,
On youtube there is a man who is slamming you! His name is Earths Last Hope, what is your response to him ?
August 12th, 2009 at 7:06 am
Two things are driuving a stake through the heart of America, things that the average Consumer can control. The first is (was) rampant consummerism. We are (were) buying waaaaay more than we needed. Hopefully, that phase is over. The truth is virtually every chain restaurant will close when it is.
The second are the TWO illegal wars that Lord Bush choose to engage in. Obviously, we cannot ‘afford’ to continue to spend $2.Billion a day playing warlord over two innocent countries which had made no aggressive moves against the US.
The main call for Obama’s Impeachment must be founded on these two truths. He is spending us into the poor house, and it matters not what his handlers believe, WE choose the direction of our country. And when it comes to fight-or-flight, the current pattern of aggression suggests the brightest of us shall leave for higher ground, for this nation currently deserves the wrath of nuclear winter.
August 12th, 2009 at 7:25 am
http://perotcharts.com/
Future of a Nation that can not trust the Government & Propaganda Media?
DNC & RNC have sold out the country in order to enrich themselves
Chronic lying as career path, intellectual prostitution for paycheck
Fool me once shame on you, fool me twice shame on me
Does the Government & Propaganda Media lie to you?
Mussolini Corporate State, Subversion of Democracy
Poodles, Puppets, Sham debates, & Scam elections
Wall Street Bailout Bill: Bush McCain Obama et al.
AIPAC 9/11 Bankers Extortion Blackmail Bribery
Independents agree on more than we disagree
Elite Ruling Class Greed or public servants?
Speak no evil, hear no evil, see no evil?
Honesty compassion conscience guts?
Both parties are corrupt to the core
Beware the divide and conquer
Whistle-Blower leaks multiply
A very RawStory on PressTV
InfoWars on a PrisonPlanet
Israel-first dual-nationals
Gung-Ho Chickenhawks
Homeland Police State
JFK RFK MLK Malcolm
Anthrax Intimidation
“Federal” Reserve
NAFTA Nation?
GGreenwald
August 12th, 2009 at 9:08 am
We’ve changed…not the system. I suppose you could say that’s been the problem all along. It’s time to create something better, instead of getting ticked off at something spinning completely out of control. Of course people are getting angry. The core of the system is changing. We deman gratification now. We cannot hold onto constructs that no longer serve the people. Money happens to be a rather large construct with brutal consequences if not handled with the health of the people taken into considerations prior to each and every choice.
I think things are going to change for the better. I really do. I don’t think the end of the world is coming as much as the end of the old human condition is coming to an end and that’s a damn good thing. Consider me an optimist at this time, because thoughts create.
August 12th, 2009 at 10:22 am
Folks… only a GIFT ECONOMY can free us!
Work for FREE out of passion in the image of wikipedia, linux… and claim FREE WATER, FREE FOOD, FREE HOUSE, FREE EDUCATION… our real BIRTHRIGHTS.
No money, no power to the top of the hierarchic pyramid!
August 12th, 2009 at 1:52 pm
Marshall law is spelled “martial”. You’re ignorance is glaring.
August 12th, 2009 at 6:37 pm
I like crackers.
Nat Reply:
August 13th, 2009 at 1:33 am
ME TOO! ME TOO! They’re awesome, I love cheese crackers best, sometimes with vegemite. Vegemite, you yanks don’t know about vegemite that we have down here in OZ. It’s the shizzle, but you’d probably hate it. I also love pudding and marshmallows. Man, I’m making myself hungry! You know what, I might just go and have some cheese crackers with pudding and marshmallows and cover it in vegemite. MMMMM. Yum. So, yeah, how about this end of the world stuff, pretty freaky huh! What are we gonna do with no CHEESE CRACKERS! All I hear is “the government is gonna take your guns, give you a poison vaccine, put you one a blue/red list, or track you down in black choppers and shoot secret laser beams at you!” People seriously need to get their priorities straightened out. WHAT ABOUT THE CHEESE CRACKERS!!!!!!!!!!!!!!!!!!! I think I’m gonna cry.
Pete Reply:
August 13th, 2009 at 1:35 am
I second that, finally someone is speaking sense around here!
Mac-101 Reply:
August 13th, 2009 at 1:49 am
Is there an Aussie alive that doesn’t live on Vegimite? Is Vegimite the secrete agent that made Assies give up their guns and roll over to PC? Is it Big Macs for Americans? Enquiring minds want to know!
Nat Reply:
August 13th, 2009 at 5:25 am
We love the stuff! Yep, we had a “guns for vegemite” buy-back scheme after the port Aurthur massacre. People were running scams where they were giving just under the government amount of vegemite to people who didn’t want police/government contact, then they were handing the guns over to the feds and making a vegemite profit. Man, they cleaned up, my uncle still has a shed full of the stuff, and he goes through about 2kg a day. I sneak in there when times get tough.
We don’t mind big macs either, but they need more vegemite on them, and change the bun to a cheese cracker.
August 15th, 2009 at 10:35 am
If you do not want to see what is being prepared for you if you disagree with the federal government, put on your blind folds and pretend this is nonsense.
For those who want to know the truth, spend some time reviewing REX 84 while you are now living in a free country. The hour is ever closer when we must WAKE UP and become prepared—mentally, physically, and spiritually.
The Jews did not have such luxury to see their camps in advance before the Nazis came for them.
Subject: google REX 84 – just go to your google site and type in REX 84 and see what comes up. Thanks.
Hundreds of concentration camps that can hold millions of people! Is everybody OK with this?
August 18th, 2009 at 5:12 am
F is not six it’s 600 so…