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The Federal Reserve Is Not Going To Save Us From The Great Depression That Is Coming

Federal Reserve Chairman Ben Bernanke delivered his annual address to Congress on Tuesday, and he did very little to give lawmakers much confidence about where the U.S. economy is heading.  Bernanke told members of Congress that recent economic data points “suggest further weakness ahead” and that the Federal Reserve is projecting that the U.S. unemployment rate will remain at 7 percent or above all the way through the end of 2014.  Now, it is important to keep in mind that Federal Reserve forecasts are almost always way too optimistic.  The actual numbers almost always end up being much worse than what the Fed says they will be.  So if Bernanke is saying that the U.S. unemployment rate will be 7 percent or higher until the end of 2014, then what will the real numbers end up looking like?  During his testimony, Bernanke seemed unusually gloomy about the direction of the U.S. economy.  He seemed resigned to the fact that there really isn’t that much more that the Federal Reserve can do to stimulate the U.S. economy.  Yes, the Federal Reserve could try another round of quantitative easing, but the first two rounds did not really do that much to help.  The truth is that the United States is absolutely drowning in debt, and when that debt bubble finally bursts the Federal Reserve is simply not going to be able to save us from the Great Depression that will happen as a result.

At this point, Bernanke appears to be in “cya” mode.  For example, the following is from Bernanke’s prepared remarks to Congress on Tuesday….

The second important risk to our recovery, as I mentioned, is the domestic fiscal situation. As is well known, U.S. fiscal policies are on an unsustainable path, and the development of a credible medium-term plan for controlling deficits should be a high priority. At the same time, fiscal decisions should take into account the fragility of the recovery. That recovery could be endangered by the confluence of tax increases and spending reductions that will take effect early next year if no legislative action is taken. The Congressional Budget Office has estimated that, if the full range of tax increases and spending cuts were allowed to take effect–a scenario widely referred to as the fiscal cliff–a shallow recession would occur early next year and about 1-1/4 million fewer jobs would be created in 2013. These estimates do not incorporate the additional negative effects likely to result from public uncertainty about how these matters will be resolved. As you recall, market volatility spiked and confidence fell last summer, in part as a result of the protracted debate about the necessary increase in the debt ceiling. Similar effects could ensue as the debt ceiling and other difficult fiscal issues come into clearer view toward the end of this year.

The most effective way that the Congress could help to support the economy right now would be to work to address the nation’s fiscal challenges in a way that takes into account both the need for long-run sustainability and the fragility of the recovery. Doing so earlier rather than later would help reduce uncertainty and boost household and business confidence.

Did you catch that?

Bernanke says that the federal government is on an “unsustainable path” and must reduce debt, but he also says that the economy cannot afford tax increases and spending cuts right now.  In fact, Bernanke is warning that “a shallow recession would occur early next year” if something is not done about the looming “fiscal cliff” that so many people are talking about.

So what does Bernanke want us to do?

If we continue on the path that we are on, our debt will continue to grow by leaps and bounds.

But if we seriously cut spending or raise taxes, that will significantly slow down the economy.

Either path leads to a whole lot of pain.

Bernanke sounds like a politician that is trying to cover all of his bases without giving us a recommendation about how to fix things.

Of course the truth is that the Federal Reserve system itself is at the very heart of our economic problems and has been the engine that has caused our national debt to explode at an exponential rate, but we all know that Bernanke will never admit that.

Bernanke can see that things are starting to fall apart, and he wants to shift as much blame to Congress and to other entities as he can while there is still time.

Bernanke knows that the U.S. economy is not going to produce enough jobs for our population anymore, and he does not want to be blamed for that.

Bernanke knows that the money printing done by the Fed is going to cause prices to continue to go up and that this will seriously stretch family budgets all over America, and he does not want to be blamed for that.

Bernanke wants to come out of all this looking like a good guy.  At this point he is probably hoping that the next great global financial crisis does not happen until his term ends.

Unfortunately, he is not going to have that luxury.  The next wave of the economic collapse is rapidly approaching, and it is going to hit the U.S. even harder than the last recession did.

And when the unemployment rate soars well up into the double digits, what do you think is going to happen?

The truth is that the entire country will soon resemble cities such as Gary, Indiana and Flint, Michigan.

To get an idea of what most of our cites will soon look like, just check out this video.

When people lose hope, they tend to get desperate.

And desperate people do desperate things.

Just look at the mob robberies that we are seeing all over the country right now.

In Jacksonville, Florida the other day, hundreds of young people that had just left a massive house party that police had broken up decided that they would descend on the local Wal-Mart.

According to police, approximately 300 people stormed into Wal-Mart and started going crazy.  They threw produce at each other, many of them started putting merchandise into their pockets, they destroyed an anti-shoplifting security scanner that is worth about $1,500 and there were even reports that shots were fired outside of the store.

It was absolute chaos.  You can see video of this incident right here.

A similar mob robbery happened in the Portland, Oregon area on Saturday night….

A group of teens targeted a Troutdale store last weekend in a ‘flash rob’ and investigators are trying to identify the suspects.

Investigators said as many as 40 kids entered the Albertsons store at 25691 SE Stark Street at the same time late Saturday night and started stealing things.

Security officers chased the thieves out, but no one was captured. They also left employees pretty shaken up, including one woman who was in tears after getting terrorized by the robbers.

So will Ben Bernanke and the Federal Reserve be able to save us from this kind of chaos?

Of course not.

If you have any faith in Bernanke at this point then you are being quite foolish.

Our economy is on the verge of collapse, and when it does collapse there is going to be hell to pay on the streets of America.

These days young people seem to commit absolutely brutal crimes just for the fun of it.  For example, in Chicago the other day two teens beat to death a 62 year old disabled man who was collecting cans for no apparent reason whatsoever.  The following is from a report about this incident from the NBC affiliate in Chicago….

Police said a 16-year-old gang member punched Delfino Mora, father to 12 children and a grandfather to 23, last Tuesday in an alley in the 6300 block of North Artesian. Mora’s devastated family told NBC Chicago that Mora was on his regular route of collecting cans that he sells for cash when the teens confronted him.

Nicholas Ayala, 17, of the 6300 block of North Talman and Anthony Malcolm, 18, of the 5500 block of North Broadway were both charged with first-degree murder and robbery.

Malik Jones, 16, the Latin Kings member accused of striking Mora, was charged with first-degree murder and ordered held without bail Sunday by Judge Adam Bourgeois.

Police said Jones handed his friends his cell phone to start filming then demanded money from Mora and punched him in the jaw. Ayala and Malcolm are accused of taking turns filming the video which allegedly showed Mora’s head smashing into the concrete.

But just because you aren’t in the city does not mean that you are safe.

For example, just check out what happened to three rural Michigan teens when they decided that it would be fun to hop on a passing train.  The following is from an article in the New York Times….

For generations of Midwestern youths who have grown up hearing the long whistles and deep rumbling of passing locomotives, hopping a freight train to another city has seemed like a free ride to adventure.

But for three rural Michigan teen-agers who actually followed this dream, the results proved disastrous. The two 15-year-old boys and a 14-year-old girl climbed off the train when it stopped last Wednesday evening in a rough neighborhood here. Within hours, the girl had suffered multiple sexual assaults and all three had been shot in the head and left for dead in a park.

One boy, Michael Carter, was killed, while the other, Dustin Kaiser, and the girl staggered to a road and flagged down a truck driver. Dustin is in stable condition at the Hurley Medical Center after two rounds of surgery, while the girl, who was shot through the cheek, was treated and released on Friday, said Donna J. Fonger, a hospital administrator.

Our country is degenerating, and the Federal Reserve is not going to save you.

We have been living in the greatest debt bubble in the history of the planet, and it is going to burst at some point and that is going to cause a massive economic depression.

Just check out what Richard Duncan, the author of The New Depression, told CNBC the other day….

When we broke the link between money and gold forty years ago, this removed all the constraints on credit creation. And afterwards credit absolutely exploded. In the U.S. it grew from $1 trillion to $50 trillion – a fifty-fold increase in forty three years.

This explosion of credit created the world we live. It created very rapid economic growth. It ushered in the age of globalization.

But it now seems credit cannot expand any further because the private sector is incapable of repaying the debt that it has already. And if credit now begins to contract there is a very real danger that we will collapse into a new great depression.

In the chart posted below you can see what he is talking about.  Once upon a time the total amount of debt in the United States (including government debt, business debt and consumer debt) was sitting at about a trillion dollars.

Today, it has nearly reached 55 trillion dollars….

We have lived way above our means for decades, and now a day of reckoning is rapidly approaching.

Ben Bernanke and the Federal Reserve may be able to delay the coming depression slightly, but they cannot avert it.

You better get ready.

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  • DKC

    Excuse me we are already in depression, but the media and the government will not tell the truth, afterall it would make NObama look bad for re-election chances!

  • http://Survive2balive.com GA

    Shoot! Save us? They helped put us here.

  • Jodi

    End the Fed, enough said.
    I think we are headed for a great, great depression that will be very difficult to reverse.

  • Schnook

    And no prattling about a gold standard either……it wouldn’t save the day any more than any money supply that doesn’t grow at the same rate as population.

    If you want no monetary inflation (fueled currently with an unbridled credit expansion), the amount of money in a system needs to stay fixed per person in the population (though not necessarily distributed equally in the population). Gold doesn’t fit this bill anymore.

    Think about it…..

    • Dave

      It isn’t that easy. Paper money has to be tied to something that has worth. People are people. If paper money is not held to a something that has tangible worth, people will print it into oblivion. That is what is happening now. Gold has been that object for 5000 years. It is money.
      Paper money MUST be backed by it or you have what you have now, chaos. Gold has always fit this bill and always will. It sounds as if you actually believe the central bankers who call gold names like “relic” and “anachronistic” while they and their cronies in government buy it up as fast as they can.
      THAT is what you need to think about.

    • http://www.patritotprovisions.com PatrickHenry

      Actually, I disagree and agree. You are correct in your analysis under a manipulated and suppressed gold/silver market. But you are incorrect if the gold and silver markets were allowed to attain their true market value. Gold/Silver if allowed to move would in some estimates attain $15,000/$1500 per ounce price. Throughout time the ratio has been around a 1:10 ratio. Some analysis make a case that silver because of it dual role as an industrial metal, and above ground supplies are rarer than Gold could attain parity.

      But you also have a contradiction in your argument. You state that monetary inflation can be controlled by fixing or limiting the amount of money in the system to stay fixed per person, we know that fiat currencies do not meet this requirement. Yet, gold and silver do because they can not be created out of thin air and would in fact meet this standard. Then you say that the money supply needs to grow at the rate of the population, which actually would increase the value of your money, since the scarcity of the gold and silver per person would necessarily increase it worth, the price of goods and service would therefore move in unison with the value of the gold and silver backed currency. This system worked for 5000 years before the creation of the Federal Reserve and mass printing of Fiat currencies starting in 1971.

      Gold and Silver currencies are the best monetary policy for the retention of wealth and living standards for people, Fiat currencies are the best monetary basis for governments and bankers. Choose your side the people or bankers and government!

    • Guido

      I won’t pretend that I am an expert by any standard, shape, or means, but I try to read up on the subject quite a bit and precious metals seem like the proper answer-we’re just too darn irresponsible to be allowed to play with Monopoly Money.

      Take note-an ounce of gold in Rome a couple thousand years ago could have bought you a great toga, some good sandals, and a heck of a good meal. A gold ounce today could also buy you a great suit, some good shoes, and a heck of a good meal.
      Funny how that works, huh?

      I’ve also read the Founders fought over the idea of banning or severely restricting the issue of credit in the US. They almost succeeded, too, and a British paper of the era stated, with alarm, the new American restrictions would end the cycle of growth/recession caused by the accepted practice of fractional reserve banking.

      I don’t see why we couldn’t have our money reformed to be produced by Congress, backed with gold and silver, as it used to be, and perhaps even other precious metals. We somehow survived until quite recently with gold and silver.

      While some of our wealthy rulers and businessmen have profited immensely from debasing our currency, I’m not entirely sure all of us benefited, especially since the folks screwing up our money are a private bank whose leaders are utterly inscrutable. It seems to me that inflation has really just served as a way to destroy our savings and keep the value of our wages low over time.

      Maybe I’m wrong, but like I said, I’m not an expert, I just try to read a lot. I do know one thing, though-when I hold a piece of silver or gold, I know it’s worth more than an equivalent stack of paper promises.

  • ScoutMotto

    I place no faith in “the Ben Bernank” whatsoever. He works for the trillionaires of the world. He cares nothing for the people. Greenspan was no better, nor was Paul Volker, all the way back to Paul Warburg, and beyond to Nicholas Biddle. All corrupt, all thieves, all prostitutes.

  • Dave Webb

    These children raiding stores are going to lead to Martial Law. The result will be prison time for a lot of them. The government already has the power to do this without going through the Bill of Rights. There are empty prisons just waiting to be filled in several states. Check with Jesse Ventura. He has already discovered these federal pens in several states. They are currently vacant.
    Our military is perfectly capable of locking this country down in isolated cases or even in a general revolt. It will not be pretty.
    The motive for doing so is way beyond riots in the streets. These people would play into the hands of a man that may not be able to get re-elected. So he declares martial law and calls off the election. It could happen right here in the USA.
    I was out and about today. There seems to be a problem with people. They are all driving cars. They are all in restaurants buying food. Our interstates were full of trucks delivering retail goods to the stores. People were purchasing these goods in the stores. The problem was there were lines even though 3 cash registers were going at one local health food store. Check any retail or grocery and the people are there buying.
    I estimate the average price of one of these cars was anywhere from 10-20 thousand dollars a piece. The highways were full of people! People going to work in the morning and people coming home at night. Where do they work? Must work somewhere . . .
    The problem as I see it is keeping these people from a reality check. Keep them working. They haven’t figured it out. Maybe they never will.
    The government will lie to keep everything the way it is. Unemployment figures of 28% or better? Well, we can make it look like 9%.
    Cars are no longer affordable. So we get people to lease them instead of owning them. Keep the cars above a marketable price because to do otherwise puts a lot of people out of work in the car industry. Well that has already happened at GM.
    I doubt seriously if these people all owned those cars outright. Most had a car payment. Most have rent or a mortgage to pay. Most are simply getting by on what they earn and hope no one realises that they are stone broke. They are not saving money in a bank somewhere. These people are living in the past. But they hope they are not next to lose their jobs. There are so many of them out there on the roads in the morning and coming home at night.
    The problem is keeping these people occupied so they do not realise that things world wide have really come apart. There are riots all over the world because people can no longer feed themselves and support repressive taxation.
    Gold and Silver markets? Take a good look at what happened to the Hunt Family and Silver. Gold can happen the same way as Silver did. The markets can be shut down and they were at least once in the case of the Hunts. Gold might be the next federal target.
    The problem is the middle class is not saving money. That is because the wages do not match what it takes to earn a living. The housing market is a symptom of this. Take a good look around your neighborhood. Are there 10 or more homes in foreclosure real close to your neighborhood? How many are living on food stamps and government subsidies?
    Two weeks ago a mild thunderstorm with some high winds came through our area. It took the power company over a week in 100 degree temperatures to get the power restored to about 40,000 people. That is not normal. Our local stores ran out of generators within a hour. The next week people were replacing the groceries that were lost during and after the storm. No power, no refrigerators, no groceries. I give credit where it is due. The grocery stores managed to keep the shelves reasonably stocked. There were a few shortages but not a lot.
    We have to change a lot of things in the next few years. We have to put our people in jobs that support a retail market. That means being self sufficient. It means the country has to support itself. It means we have to develop industry so we are not dependent on things from overseas. Corporations are going to have to come home or face starvation because people cannot afford to buy their goods. That is going to take leadership we do not have at the present time. Hopefully such leaders will come forward.

    • Guido

      The proper response to these flash robberies is deadly force. They’re successful because they’re predicated on the threat of violence towards anyone who gets in their way. I think these events should be classified as looting, which we punish with deadly force in martial law situations. Let’s make it legal for shop owners to protect their businesses from mass looting events with deadly force. A few deadly force encounters and the flash robberies would probably drop off. The only casualties would, hopefully, be an element of society the loss of which we wouldn’t particularly mourn.

      • paul

        When the defense of a civilization is at stake then deadly force may be the only option, ironically

      • laura m.

        Parents are allowing/ encouraging these kids to steal; If I had a kid that did that, I would write them off for good, sign over their custody as a ward of the state. Some parents I know of have written their kid off for something they did; completely disowned them, even threw out their photos. Glad I never had any, knowing most people fail as parents anyway. Whimpy gelding store employees obviously condone these thefts; standing by like cowards..duh. Unemployment: technology and automation/robotics has taken over besides the outsourcing..people need to train/specialize way way more than my generation did. Overpopulation in itself is a primary cause of “not enough jobs to go around”..

        • Steve

          Laura, im glad you havent had kids because if you would disown your own kid for theft your about as useless as the robbers. The proper way to handle that kid is beat his ass and make sure they are in church every time the door is open for about 6 months. Its people like you that create these people.

          • laura m.

            steve: child protective svcs would be on your doorstep, for beating even spanking..raising kids is useless today, as parents won’t control them. One gal told me “you can’t force teens to go to church” churches are full of hypocrites anyway: adulterers, whores, drunks, etc. (stick to home churches). Steve it’s not theft I’m speaking about, but gang type mobs..kids in gangs need to be in juvi jail. You sound like a freakin loser like most today. Yes, I know of older adults who have written off their adult loser/slacker kids for various reasons. Loser parents have bum offspring still living at home in their 30′s, incl friends who are losers in parenting.

        • Guido

          That seems a tad overkill.

          What ever happened to punishing your kid and shaming him into better behavior? As a child, I stole a toy from a store. My mother saw me with the new toy minutes later as we walked around the mall. In addition to correcting me on the spot, she walked me back to the store to return the item and forced me to make an apology to the store owner. Thankfully, in those days store owners weren’t apt to call the cops to have children arrested, or worse, so my humiliation and shame was sufficient punishment-in addition to what I got once we were home.
          Suffice to say, I did not do that again.

    • A.S.

      Dave, you write:
      “It means the country has to support itself. It means we have to develop industry so we are not dependent on things from overseas. Corporations are going to have to come home or face starvation because people cannot afford to buy their goods. ”

      Question for you? Why would any corporation involved in raw materials, industry, and production of retails, come back to the U.S.? There are so many environmental laws, regulations, taxes, etc., that they would actually be making losing money (although they would still make a huge profit, they want maximum profit!) So were in a point beyond return. There is no hope. There is no change. Everyone is for themselves, so you better protect your family with stockpiles of food, water, supplies, guns, ammo, etc. When the FEMA soldier comes to take you away, shoot to kill!

    • Michelle

      “Country boy can survive!” hank Williams jr.

    • J Madison

      In Japan it is difficult for the government to measure the economy ,because the japs will hoard,and save every dollar they make. This is not the case in America,
      people live like there’s no tomorrow (thank -goodness) The american people are the only thing driving this economy ,always have and always will.
      The trouble is the government, going into a dictatorship mode, that will halt the spirit of america. Therefore i urge all americans to vote Replubican this November.to turn off this distructive road and get us back on the path of life,liberty,and the pursuit of happiness once again.. thank-you!

  • VegasBob

    The worst aspect of the oncoming Depression has been the constant stream of delusion and outright lies coming out of the mouths of incompetent politicians like Obama and criminal apparatchiks like Ben ‘Bernokio’ Bernanke. There has been no actual economic recovery over the past three years. The so-called ‘economic recovery’ is nothing more than a statistical mirage, purchased with horrendous increases in Federal Debt and the rampant creation of trillion$ of counterfeit electronic dollars (AKA ‘quantitative easing’ or money-printing) by Bernokio’s Federal Reserve.

    Like it or not, Bernokio has no more policy actions he can take to avert the oncoming Depression. The American economy has been gutted like a fish. Manufacturing is what creates wealth and prosperity, and the US manufacturing sector has been outsourced to our foreign competition. Of the manufacturing that remains in the US, 40% or more is devoted to production of weapons and armaments, which destroy wealth, not create wealth. More printing of counterfeit electronic dollars by the criminal Bernokio might goose the stock market for awhile, but it will also serve to drive up food and energy prices to stratospheric heights, destroying what few remnants remain of the American middle class.

  • http://endzone.weebly.com Craig

    That picture of the Bernak gives me the creeps.

    • Michelle

      Me too…Gestapo-like. Demonized even. ((shudder))

  • Chris

    Well as I’ve said before the Fabian ‘socialists’ presumeably realised long ago that the way to make the global population all live at the same standard of living (apart from the elites) was to transfer all wealth creating manufacturing to the East from the West. They called this ‘globalisation’ and sold the capitalists on it with the promise of cheap labour. The Fed and BoE and other western central banks had to cover up this transfer of wealth that was taking place and created bubble after bubble and near endless cheap credit to produce fake growth and economic activity. This is why there can never be a genuine recovery in the West because the jobs aren’t there to do it and the West is now drowning in debt.
    I presume the next step will actually be to allow the next Great Depression to happen and to engineer a huge war to kill off most of the surplus population and to enable a complete reset of the global financial system with the writing off of all debt which will require the abolition of all paper money. The elites then produce their solution of a global cashless society with world government?

  • NWO

    it could be part of their plan to bring down the US economy and usher in a great deal of depression.. and from there they would kill the dollar and bring in a new form of currency and start over from there..

  • A.S.

    When I look into Bennie’s eyes, I see a naive, foolish, irresponsible child. He is nothing more than a 5 or 6 yr old with a beard. Everything that comes out of his mouth is what a child would say. “It’s not my fault, it was the dog’s;” “it’s not my fault, my sister did it;” “it’s not my fault, it just happened;” “it’s not my fault, it was aliens.” Just own up to your mistakes! Just admit that you were always unfit from the start to be head the Federal Reserve and further that the Fed should not have existed in the first place. If Bennie only does this, his soul may be saved. These are time of great judgment by G-d. Are people like him going to join the G-d fearing, hard-working, patriotic Americans, or the evil NWO elite?

    • paul

      You think he even thinks of such a choice? He already belongs to them. He was born into it, as were the bulk of the Bankers.

  • Cinderella Man

    Uncle Ben in cover your ass mode? Big surprise there! Well the bastard should sound depressed about the state of the economy. He has printed money, bought up treasury bonds, stolen from savers oops… I mean cut intrest rates to unrealistic levels and this economy still sucks. I bet he is worried this LIBOR scandal is going make him have egg in the face. Of course he knew about it! There is nothing that goes on that the masters of the financial universe dont know about. This man is a criminal skankster bankser of the lowest kind. This man lives in a dream world that in despite of all the evidence presented to him still denys it and claims the economy is still going to improve! What planet does he live on? Hes suprised that jobs arent growing and consumers arent spending? HELLO WERE IN A DEPRESSION BENNY BOY! Things couldnt get much worse oh wait yes they can. How about food prices increasing 35% in the fall? China stabbing us in the back by making agreements with other countries to dump the dollar? This criminal must pay. This man is part of a shadow banking cabal whos intent is to destroy this country’s weath and they have done a damn fine job so far.

    • Justa Guy

      He has known the economy won’t improve for quite a while. It’s his job to try to keep the sheeple misinformed and believing everything is fine. The longer he can do that for his masters, the better their plan will work. The longer sheeple go on thinking things will work out, the worse the depression will be. The deeper and darker the depression, the more anarchy and violence and death, which is what they want with their Agenda 21. The sheeple are overwhelmingly dumbed down, and when the time for violence comes, instead of going after the elite in force, they will turn on each other. This will (in their minds) let the elite have a clear conscience, since they will have their objective accomplished without having to do the deed themselves via “police powers”. They will still be the responsible party because they incited it to happen.

      And as far as China…they’re not really stabbing us in the back. Everyone should have known that China is not our ally, and therefore they have no obligation to us. They have just been using us to achieve their own objectives, which is exactly what would be expected.

  • Cinderella Man

    BTW, how pathetic is it that the only reason the market gained yesterday is beacause Bernanke just “hinted” at QE3? It just shows you that this economy is like a coke addict in need of constant stimulus!

  • Noel

    Hasn’t the country been in a “shallow recession” for a while now?

    Good article, but I clicked the link to the NY Times story about the kids on the train, and it’s from June 1997.

  • Stuey

    The NYT article is dated 6/23/1997.

    • Stuey

      Although, from page 2 of the article, it sounds like it was a hate crime. I guess it never made the national news like the Zimmerman situation.

  • Singerdude

    The game’s up! The Fed’s know quite well what is happening and have known and planned this economic collapse for quite some time. In order for their planned NWO to come into existence, our once great nation must be destroyed politically, socially and economically. Once this is done, the next phase of their plan is to create 10 Supra-Nation states around the globe, with one monetary, political and yes, religous center based out of Europe (in particular, I believe it will be in Rome, aka the “Revived Roman Empire”). Just as God’s word says. And it doesn’t matter if one believes it or not, if God says is will be so, it will be so. Better get on your knees and give your life to Jesus now!

  • Josh

    also the portland article that says happened Saturday night has a date of Posted on June 18, 2012 at 12:06 PM

  • http://www.povertylinejournal.blogspot.com/ the optimist

    I can see one growth industry: high definition video cameras in retail stores, and more of them, particularly at face level.

    The feds continuously attempt to softpedal the reality that many of us already know: we are in a depression in some parts of the country, and it is spreading.

    • Justa Guy

      Another coming industry…armed retail security. Possibly also…auto-lockdown security gates to contain and detain flash black-robs.

  • i’vegivenup

    There is NO hope for the economy. We have gone well past the threshold for recovery. Get ready NOW before it is too late. Here is another article from SHTFplan.com. Be sure to watch the video!

    http://www.shtfplan.com/headline-news/very-real-danger-of-collapse-could-be-so-severe-i-dont-think-our-civilization-could-survive-it_07172012

  • Prepaired Painter

    Food, medicine, and ammo will be the new currancy… make sure you have plenty of all three. Thanks for another great article!

  • daddyo

    The NYT article and story about the Michigan teens was from 1997. You call that recent?

  • liberranter

    Michael, I didn’t read the article, but I’m assuming from its title that it was written for first-time visitors wholly unfamiliar with the subject of free-market economics and limited government. Surely the target wasn’t your regular readers. “Well, DUHHHHH” was my immediate reaction to the title.

  • Michelle

    My husband and i watched that interview with the Depression author on cnbc with amazement. My husband said “Mainstream media is finally airing some of the truth! We must all be damned!”

  • ARCHANGEL

    The military will be used to keep mobs at bay. They are already trained for it. Local law will need the military as a backup. This may give the current administration the que they need to call for martial law.
    The take down of our economy may have been planned long ago to bring us right up to where we are now. First the American people had to be robbed of their wealth and liberty. Apparantly all is going as planned so far.
    We need Ron Paul to be President to help get us out of this economic mess however it will still take a reset of our economy. Arrest have to be made of those responsible
    for bringingAmerica to the brink of collapse.

  • Dude

    Is he kidding about not being able to cut spending? What use did Iraq invasion have or sponsoring dictatorships around the world? Hundreds of billions gone for nothing!

    And what about the 2.3 trillion missing from the department of treasury? When will you get that back? America sure needs that money ASAP.

  • http://www.whatreallyhappened.com Anon Patriot

    CONTACT YOUR REPRESENTATIVE!

    Congressman Ron Paul’s H.R. 459, the Federal Reserve Transparency Act, could come up for a vote at any time! (7/25/2012)

    http://www.chooseliberty.org/audit_vote.aspx?pid=s185

  • http://www.infowars.com Anon

    You’re damn straight, the ‘Fed’ won’t be part of a solution!

    These financial scandals, and the ‘Fed’ won’t be going away anytime soon, UNLESS YOU GET UP OFF YOUR FAT, LAZY A**ES, and DO SOMETHING!

    HR 459 passed by an overwhelming majority in the House, by a vote of 327-98!
    Now, this bill (S.202) needs a vote in the Senate!

    CONTACT YOUR SENATORS HERE:

    AUDIT THE ‘FED’!
    http://www.auditthefed.com/?mode=actionpage

    End the Fed! Whether Congress Wants Us To or Not!
    http://www.lewrockwell.com/boldin/boldin22.1.html
    http://tenthamendmentcenter.com/2012/07/25/end-the-fed-whether-congress-wants-us-to-or-not/

  • olde reb

    how does the Fed steal $4 billion dollars from the auctions of Treasury securities EACH DAY and hid it from the government that legally owns it ?? Ref. http://www.scribd.com/49040689 RIP OFF BY THE FEDERAL RESERVE A one page analysis is FEDERAL RESERVE HEIST if Scribd has it linked.

  • http://www.facebook.com/jason.grenville.9 Jason Grenville

    The author of this article, may very much like to read a study just completed on the true story of Jackson and the Bank. The myth is ended. The controllers of Jackson were those of Aaron Burr, Jeremy Bentham, and other agents of the British Empire. John Quincy Adams and Nicholas Biddle were the nation builders and patriots. “How Andrew Jackson Destroyed the United States.” larouchepac dot com/andrewjackson