Are we on the verge of another Great Depression? Christian Lagarde, the head of the IMF, said this week that if dramatic action is not taken immediately we could actually see conditions “reminiscent of the 1930s depression” and that no country on earth “will be immune to the crisis”. Right now, financial panic is sweeping across Europe, but most Americans are not too concerned about it because they simply don’t understand how important the EU is. The truth is that the EU has a much larger population than the United States does. The EU has an economy that is nearly as large as the economies of the United States and China combined. The EU has more Fortune 500 companies that the United States does, and the banking system of Europe is substantially larger than the banking system of the United States. Anyone out there that believes that a massive financial collapse in Europe would not dramatically affect the rest of the globe is being delusional. The European debt crisis is one of the biggest stories that we have seen in a long, long time and the coming financial meltdown is going to permanently change the global economy. (Read More...)
Financial
1 Through 30 – The Coming U.S. Financial Crisis By The Numbers
The United States is drowning in a sea of red ink from coast to coast and most Americans have absolutely no idea what is about to happen. Hopefully you have started to prepare for the coming U.S. financial crisis. If not, hopefully this article will be a wake up call for you. Right now, governments all over Europe are on the verge of financial implosion. Most Americans aren’t paying much attention to that, but they should be, because what is happening to Greece and Italy right now will eventually be happening here. Just recently, the U.S. national debt passed the 15 trillion dollar mark. State and local government debt is also at record levels. Tens of millions of American families are in debt up to their eyeballs, and millions more Americans fell into poverty last year. Meanwhile, the “too big to fail” banks just keep getting larger and the Federal Reserve continues to inflate the debt bubble. At some point this debt bubble is going to burst, and when it does it is going to unleash financial hell all over America. (Read More...)
Out Of The Ashes Of The Collapse Of The Eurozone Will A “United States Of Europe” Arise?
All over Europe, headlines are declaring that the eurozone is on the verge of collapse. Many people falsely assume that this will mean the end of the euro and a return to national currencies. Unfortunately, that is not going to be the case at all. Instead, this is going to be yet another example of how the elite attempt to bring order out of chaos. The European elite have no intention on giving up on a united Europe. Rather, they hope to be able to bring to life a new “United States of Europe” out of the ashes of the existing eurozone. Over the coming months we will see widespread panic and fear all across Europe. The euro will likely sink like a rock and there will probably be huge financial problems in Europe and all around the globe. But for the European elite, a great crisis like this represents a golden opportunity to tear down the existing structures and build new ones. The solution that the European elite will be pushing will not be to go back to the way that Europe used to be. Instead, they will be pushing the idea of a much more tightly integrated Europe really hard. (Read More...)
Corporatism Is Not Capitalism: 7 Things About The Monolithic Predator Corporations That Dominate Our Economy That Every American Should Know
Right now, there is a lot of talk about the evils of “capitalism”. But it is not really accurate to say that we live in a capitalist system. Rather, what we have in the United States today, and what most of the world is living under, is much more accurately described as “corporatism”. Under corporatism, most wealth and power is concentrated in the hands of giant corporations and big government is used as a tool by these corporations to consolidate wealth and power even further. In a corporatist system, the wealth and power of individuals and small businesses is dwarfed by the overwhelming dominance of the corporations. Eventually, the corporations end up owning almost everything and they end up dominating nearly every aspect of society. As you will see below, this very accurately describes the United States of America today. Corporatism is killing this country, and it is not what our founding fathers intended. (Read More...)
They Want A “United States Of Europe” But They Are Going To Need A Massive Financial Crisis In Order To Get It
Are we about to see a huge push for a “United States of Europe”? As the sovereign debt crisis in Europe continues to spiral out of control, suddenly this term is popping up in the New York Times and in major newspapers all over Europe. So is this by accident? Surely not. The truth is that there is an overwhelming consensus among the political and financial elite of Europe that a “United States of Europe” is what would be best for the eurozone. However, they are likely going to need a massive financial crisis in order to reach their goal. Right now, the citizens of the countries that make up the eurozone are overwhelmingly against deeper European integration. Without experiencing a massive amount of financial pain, they are unlikely to change their minds any time soon. So who is going to win in the end? Unfortunately, the clock is ticking because Greece is on the verge of defaulting on their debts and several other countries are not that far behind. If Europe does not decide on a course of action soon, the euro is going to collapse and financial institutions all over Europe are going to come crashing down. (Read More...)
30 Questions That Children Should Be Asking Their Parents About The U.S. Economy
There are a whole lot of things about the U.S. economy that don’t make any sense whatsoever. Sadly, most adults have been so programmed to accept the way that things are by years and years of relentless propaganda that they don’t even bother to question the status quo any longer. But little kids are different. Many little kids are not afraid to say the darnedest things or ask really embarrassing questions. Have you ever been in a situation where a child asks an obvious question that did not even occur to any of the adults? That happens so often because the minds of little kids have not been completely warped by the world we live in yet. They are able to see things with honesty and innocence and with fresh eyes. Well, perhaps all of us should start looking at our economy and our financial system through the eyes of little children. There are a lot of things that we have been programmed to accept that we really should be asking some hard “why questions” about. (Read More...)
The United States Of Europe: A Proposed “Economic Government” Would Integrate Europe To A Degree Not Seen Since The Roman Empire
Are you ready for “The United States Of Europe”? The integration of Europe is about to go to another level. As the European debt crisis deepens, there are cries all over the EU for full economic integration in Europe. On Wednesday, French President Nicolas Sarkozy and German Chancellor Angela Merkel sent a letter to European Council President Herman Van Rompuy which stated that they want a new “economic government” for Europe to be formed. According to the letter, Sarkozy and Merkel want the leaders of the eurozone countries to “elect” a president for the new “economic government”. The idea would be that the president would hold twice-yearly summits to address the debt problems that Europe is facing right now. But many pro-EU critics are already howling that Sarkozy and Merkel have not gone nearly far enough. A whole lot of “experts” in Europe are proclaiming that without full economic integration and the creation of “eurobonds”, Europe is doomed. Jennifer McKeown, an economist for Capital Economics, put it this way when asked what would happen if eurobonds are not created fairly soon: “The likely outcome is the eurozone ceases to exist”. (Read More...)
Now That U.S. Government Debt Has Been Downgraded, The Rest Of The World Is Calling Even Louder For A New Global Currency
For decades, the U.S. economy was so dominant compared to the rest of the world that nobody really even challenged the status of the U.S. dollar as the reserve currency of the world. But now that U.S. government debt has been downgraded, the U.S. dollar is showing significant weakness and the U.S. economy continues to crumble, the rest of the world is questioning whether the U.S. dollar should be allowed to continue to have such a privileged position in the global marketplace. Politicians all over the world are now openly calling for a new global currency to replace the U.S. dollar in international trade. In fact, we are already seeing a shift away from the dollar in many areas of the globe. A decade ago, the U.S. dollar made up approximately 70% of all foreign exchange reserves around the world. Today, that figure is down to about 60%, and it continues to fall. As the debt problems of the U.S. government get even deeper, and as the U.S. dollar loses even more strength, the calls for a truly global currency are going to grow even louder. (Read More...)