Thursday, September 26, 2013

VIDEO: More On The Obamacare Nightmare!











VIDEO: Busted! Lois Lerner Emails Just Released - Tea Party is "Very Dangerous"





VIDEO: A Genocidal New World Order Of Electromagetic Pollution Used for Soft Kill and Mind Control




VIDEO: Shut All Nuclear Power Says Former NRC Chair




VIDEO: Obama's Treasonous Ties to Kenyan Massacre And Military Support For Al Quaeda And Muslim Brotherhood


VIDEO: John Kerry Signs Away 2nd Amendment Without Congress's Approval



Thursday, September 19, 2013

VIDEO: Ron Paul On No Taper Announcement? Bernanke Admits Economy Is In Bad Shape



Experts Say Fed’s QE Unlimited Will Lead to “Total Collapse”

 Americans to suffer through higher food, gas & energy prices

Paul Joseph Watson
Infowars.com
September 19, 2013

Financial experts have slammed the Federal Reserve’s decision to proceed with “QE unlimited” by refusing to taper its money printing madness, with famed investor Mark Faber predicting the move will lead to a “total collapse” of the economic system.


Despite expectations amongst many that the Fed would scale back its $85 billion a month bond purchase plan, the central bank announced yesterday that it would prolong the policy.
Investment guru Mark Faber reacted by telling Bloomberg that the decision not to taper was all about protecting the financial interests of the elite while ordinary Americans will suffer the consequences through higher gas, food and energy prices.
“My view was that they would taper by about $10 billion to $15 billion, but I’m not surprised that they don’t do it for the simple reason that I think we are in QE unlimited. The people at the Fed are professors, academics. They never worked a single life in the business of ordinary people. And they don’t understand that if you print money, it benefits basically a handful of people maybe–not even 5% of the population, 3% of the population,” he said.
“And when you look today at the market action, OK, stocks are up 1%. Silver is up more than 6%, gold up more than 4%, copper 2.9%, crude oil 2.68%, and so forth. Crude oil, gasoline are things people need, ordinary people buy everyday. Thank you very much, the Fed boosts these items that people need to go to their work, to heat their homes, and so forth and at the same time, asset prices go up, but the majority of people do not own stocks. Only 11% of Americans own directly shares,” added Faber.
Asked what the endgame was, Faber responded, “The endgame is a total collapse, but from a higher diving board. The Fed will continue to print and if the stock market goes down 10%, they will print even more. And they don’t know anything else to do. And quite frankly, they have boxed themselves into a corner where they are now kind of desperate.”
Veteran investor Jim Rogers also slammed the Fed’s excessive money printing, warning, “The world will suffer very badly when this comes to an end. It’s an artificial sea of liquidity.”
The chairman of Rogers Holdings added that the only factor that may stop central banks around the world from printing money is if markets say, “we’re not going to take your garbage paper anymore.”
Rogers also emphasized how it doesn’t really matter who gets the top job at the Fed because the same policies would still be pursued.
“This is all a farce. They’re both of the same ilk,” he said, adding, “As long as the regular people are running things, it’s going to be the same thing…. This is not good for the world. It’s good for them and their friends.”
With Larry Summers out of the picture, Janet Yellen is firmly in the frame to be the first woman ever to chair the Federal Reserve. As Michael Snyder documents, Yellen, the architect of many of Ben Bernanke’s monetary policies, represents “Bernanke on steroids,” and is a firm believer in regular government intervention in financial markets.
Despite the media claiming Yellen has a “good track record,” in February 2007 she dismissed the notion of a housing market collapse and completely failed to anticipate the 2008 financial crisis.
“She will make Mr. Bernanke look like a hawk,” said Faber, noting that Yellen is so obsessed with artificially low inflation rates that she once advocated negative interest rates.
“She, in 2010, said if could vote for negative interest rates, in other words, you would have a deposit with the bank of $100,000 at the beginning of the year and at the end, you would only get $95,000 back, that she would be voting for that,” said Faber, adding that the Fed has no clue about the real rise in the cost of living and that the consequences of such policies inevitably lead to bigger government and less freedom.
Both Rogers and Faber said they continue to buy gold, even thought it may currently be in a “rest” period, as a protection against the ludicrous policies of the Fed and general global instability.
Meanwhile, in a bizarre Orwellian twist of logic, President Obama gave a speech in which he argued that raising the debt limit did not raise the debt of the United States.


VIDEO: Gregory Mannarino Economic Collapse News 9/19/13. Ben Says "No Taper"! 5 Years Out And The U.S. Economy Still In Crisis









Monday, September 16, 2013

25 Fast Facts About The Federal Reserve – Please Share With Everyone You Know

Michael Snyder
Economic Collapse
September 16, 2013

As we approach the 100 year anniversary of the creation of the Federal Reserve, it is absolutely imperative that we get the American people to understand that the Fed is at the very heart of our economic problems. It is a system of money that was created by the bankers and that operates for the benefit of the bankers. The American people like to think that we have a “democratic system”, but there is nothing “democratic” about the Federal Reserve.

Unelected, unaccountable central planners from a private central bank run our financial system and manage our economy. There is a reason why financial markets respond with a yawn when Barack Obama says something about the economy, but they swing wildly whenever Federal Reserve Chairman Ben Bernanke opens his mouth. The Federal Reserve has far more power over the U.S. economy than anyone else does by a huge margin. The Fed is the biggest Ponzi scheme in the history of the world, and if the American people truly understood how it really works, they would be screaming for it to be abolished immediately. The following are 25 fast facts about the Federal Reserve that everyone should know…

#1 The greatest period of economic growth in U.S. history was when there was no central bank.
#2 The United States never had a persistent, ongoing problem with inflation until the Federal Reserve was created. In the century before the Federal Reserve was created, the average annual rate of inflation was about half a percent. In the century since the Federal Reserve was created, the average annual rate of inflation has been about 3.5 percent, and it would be even higher than that if the inflation numbers were not being so grossly manipulated.
#3 Even using the official numbers, the value of the U.S. dollar has declined by more than 95 percent since the Federal Reserve was created nearly 100 years ago.
#4 The secret November 1910 gathering at Jekyll Island, Georgia during which the plan for the Federal Reserve was hatched was attended by U.S. Senator Nelson W. Aldrich, Assistant Secretary of the Treasury Department A.P. Andrews and a whole host of representatives from the upper crust of the Wall Street banking establishment.
#5 In 1913, Congress was promised that if the Federal Reserve Act was passed that it would eliminate the business cycle.

#6 The following comes directly from the Fed’s official mission statement: “To provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.”
#7 It was not an accident that a permanent income tax was also introduced the same year when the Federal Reserve system was established. The whole idea was to transfer wealth from our pockets to the federal government and from the federal government to the bankers.
#8 Within 20 years of the creation of the Federal Reserve, the U.S. economy was plunged into the Great Depression.
#9 If you can believe it, there have been 10 different economic recessions since 1950. The Federal Reserve created the “dotcom bubble”, the Federal Reserve created the “housing bubble” and now it has created the largest bond bubble in the history of the planet.
#10 According to an official government report, the Federal Reserve made 16.1 trillion dollars in secret loans to the big banks during the last financial crisis. The following is a list of loan recipients that was taken directly from page 131 of the report…

Citigroup – $2.513 trillion
Morgan Stanley – $2.041 trillion
Merrill Lynch – $1.949 trillion
Bank of America – $1.344 trillion
Barclays PLC – $868 billion
Bear Sterns – $853 billion
Goldman Sachs – $814 billion
Royal Bank of Scotland – $541 billion
JP Morgan Chase – $391 billion
Deutsche Bank – $354 billion
UBS – $287 billion
Credit Suisse – $262 billion
Lehman Brothers – $183 billion
Bank of Scotland – $181 billion
BNP Paribas – $175 billion
Wells Fargo – $159 billion
Dexia – $159 billion
Wachovia – $142 billion
Dresdner Bank – $135 billion
Societe Generale – $124 billion
“All Other Borrowers” – $2.639 trillion

#11 The Federal Reserve also paid those big banks $659.4 million in fees to help “administer” those secret loans.
#12 The Federal Reserve has created approximately 2.75 trillion dollars out of thin air and injected it into the financial system over the past five years. This has allowed the stock market to soar to unprecedented heights, but it has also caused our financial system to become extremely unstable.
#13 We were told that the purpose of quantitative easing is to help “stimulate the economy”, but today the Federal Reserve is actually paying the big banks not to lend out 1.8 trillion dollars in “excess reserves” that they have parked at the Fed.
#14 Quantitative easing overwhelming benefits those that own stocks and other financial investments. In other words, quantitative easing overwhelmingly favors the very wealthy. Even Barack Obama has admitted that 95 percent of the income gains since he has been president have gone to the top one percent of income earners.
#15 The gap between the top one percent and the rest of the country is now the greatest that it has been since the 1920s.
#16 The Federal Reserve has argued vehemently in federal court that it is “not an agency” of the federal government and therefore not subject to the Freedom of Information Act.
#17 The Federal Reserve openly admits that the 12 regional Federal Reserve banks are organized “much like private corporations“.
#18 The regional Federal Reserve banks issue shares of stock to the “member banks” that own them.
#19 The Federal Reserve system greatly favors the biggest banks. Back in 1970, the five largest U.S. banks held 17 percent of all U.S. banking industry assets. Today, the five largest U.S. banks hold 52 percent of all U.S. banking industry assets.
#20 The Federal Reserve is supposed to “regulate” the big banks, but it has done nothing to stop a 441 trillion dollar interest rate derivatives bubble from inflating which could absolutely devastate our entire financial system.
#21 The Federal Reserve was designed to be a perpetual debt machine. The bankers that designed it intended to trap the U.S. government in a perpetual debt spiral from which it could never possibly escape. Since the Federal Reserve was established nearly 100 years ago, the U.S. national debt has gotten more than 5000 times larger.
#22 The U.S. government will spend more than 400 billion dollars just on interest on the national debt this year.
#23 If the average rate of interest on U.S. government debt rises to just 6 percent (and it has been much higher than that in the past), we will be paying out more than a trillion dollars a year just in interest on the national debt.
#24 According to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to “coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”. So exactly why is the Federal Reserve doing it?
#25 There are plenty of possible alternative financial systems, but at this point all 187 nations that belong to the IMF have a central bank. Are we supposed to believe that this is just some sort of a bizarre coincidence?

Amid slow economic recovery, more Americans identify as ‘lower class’

Emily Alpert
LA Times
September 16, 2013

Chris Roquemore once thought of himself as working class. But it’s hard to keep thinking that, he said, when you’re not working.
The 28-year-old father said he sparred with his supervisors at a retail chain about taking time off after his mother died — and ended up unemployed. Since then, Roquemore has worked odd jobs and started studying nursing at Long Beach City College, trying to get “a career, not a job.” All those changes, in turn, changed the way he thought of himself.
Roquemore is among the small but surging share of Americans who identify themselves as “lower class.” Last year, a record 8.4% of Americans put themselves in that category — more than at any other time in the four decades that the question has been asked on the General Social Survey, a project of the independent research organization Norc at the University of Chicago.
The rising numbers surprised some researchers and activists even in light of the bruising economy. For decades, the vast majority of Americans have seen themselves as “middle class” or “working class.” Even during earlier downturns, so few people called themselves lower class that scholars routinely lumped them with working class. Activists for the poor often avoid the term, deeming it an insult.

Full article here

Top climate scientists admit global warming forecasts were wrong

Hayley Dixon
London Telegraph
September 16, 2013

A leaked draft of a report by the UN Intergovernmental Panel on Climate Change is understood to concede that the computer predictions for global warming and the effects of carbon emissions have been proved to be inaccurate.
The report, to be published later this month, is a six year assessment which is seen as the gospel of climate science and is cited to justify fuel taxes and subsidies for renewable energy.
The “summary for policymakers” of the report, seen by the Mail on Sunday, states that the world is warming at a rate of 0.12C per decade since 1951, compared to a prediction of 0.13C per decade in their last assessment published in 2007.
Other admission in the latest document include that forecast computers may not have taken enough notice of natural variability in the climate, therefore exaggerating the effect of increased carbon emissions on world temperatures.

Full article here

Feinstein calls for new gun control laws again after Navy Yard shooting

Daily Caller
September 16, 2013

California Democratic Sen. Dianne Feinstein is renewing her call for new gun-control laws because of Monday’s deadly Navy Yard shooting.
“When will enough be enough?” Feinstein said in a statement Monday evening.
“Congress must stop shirking its responsibility and resume a thoughtful debate on gun violence in this country,” she said. “We must do more to stop this endless loss of life.”
The FBI confirmed Monday afternoon that 34-year-old Aaron Alexis is the suspect in Monday’s massacre at the Navy Yard in Washington, D.C. Alexis died at the scene. Authorities are still looking for other potential gunmen in the rampage that has killed at least a dozen people.

Full story here.

Obamacare Taking Over the Bedroom is Part of a Global Phenomenon

 Obamacare mirrors Australia’s mandatory sex questionnaires

Julie Wilson

Infowars.com
September 16, 2013

The horrors of Obamacare continue as new reports reveal Americans will have their privacy violated on an unprecedented level when doctors will be forced to ask patients intrusive questions about their sex life.

Apparently Obama’s idea of healthcare reform is to know everything about everyone, including how many sexual partners you’ve had and who those sex partners are.
Sound familiar? Well it might if you caught Infowars’ June report detailing an invasive mandatory survey Australians are required to complete if selected (which is done at random).
The Australian Bureau of Statistics (ABS) has been conducting surveys on its citizens demanding to know exactly what Obamacare wants to know, the who, what, when and where about your sex life.
The ABS survey was initially designed to collect information on economical issues such as employment statistics, but has slowly transitioned into prying into the sex lives of Aussies. If they refuse, they face steep fines and even jail time.
Doctors and hospitals that refuse to carry out Obamacare’s sex questions, can be met with penalties, including financial penalties from Medicare and Medicaid. According the NY Post, the “Department of Health and Human Services has already paid out over $12.7 billion for these incentives.”
One New York cardiologist called it “nasty business,” admitting he couldn’t think of a reason a cardiologist would need to know such information.

Obamacare of course is only for peasants. Elitists, such as members of Congress, will be exempt from the healthcare reform. When Sen. David Vitter, R-La., demanded a floor vote to end this exemption, members of Congress turned on him, attempting to discredit him by bringing up his 2007 prostitution scandal.
“Several Democrat senators asked staff to draft legislation that would deny federal health subsidies to anyone who votes for the Vitter plan, even if Vitter’s plan doesn’t become law,” reported Politico.
That right there illustrates how horrible even members of Congress expect the implementation of Obamacare to be.
The legislation, which opens for enrollment in just 15 days, has Americans frightened, angry and confused. To start, those who are supposed to benefit the most from the plan (those who are unemployed) are unaware of what the new plan entails, and many doubt they’ll even use it!
A new poll conducted by the Wall Street Journal and NBC shows 76 percent of uninsured “didn’t understand the law and how it would affect them.” Just 32 percent of uninsured believed they were “’fairly’ or ‘very’ likely to use the exchanges.”
Outrage over the unpopular healthcare reform is expected to rise as implementation begins. Increased premiums, physician restrictions and less privacy is sure to leave Americans feeling trapped inside a healthcare plan that no one wants.

VIDEO: The End Is Near, The War Will Cover Up The Collapse



VIDEO: The Moral And Economic Collapse Of America



VIDEO: Here's How The Global Financial Crisis Ends



VIDEO: Potential Fed Chair Summers At Heart of Global Economic Crisis



Friday, September 13, 2013

Infowars.com Poll: Majority Believe Road Warrior Depression Coming

Kurt Nimmo
Infowars.com
July 20, 2010

An Infowars.com poll posted last week reveals that nearly 60% of respondents believe the United States is headed for a “road warrior” economic depression. 17% believe the country is headed for a depression no worse than the Great Depression, while 13% think the economic crisis will continue along its current trajectory and not get worse. 5% of respondents believe the economy will turn around as Obama and the government promises.

Business Insider has posted 22 statistics with an accompanying image slideshow that reveals how the middle class is being systematically wiped out of existence in America. In addition to wealth siphoned upward toward the coffers of the elite — 66% of the income growth between 2001 and 2007 went to the top 1% of all Americans — the statistics point out that 61% of Americans “always or usually” live paycheck to paycheck, up 49 percent in 2008 and 43 percent in 2007. In addition to living hand-to-mouth, many Americans are approaching financial insolvency — over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
The government claims unemployment is at 9.5%. However, Raghavan Mayur, the president at TechnoMetrica Market Intelligence, an outfit that follows unemployment data closely, points out how the unemployment rate is actually over 22% and rapidly approaching the Great Depression level of 25%.
“In America today, the average time needed to find a job has risen to a record 35.2 weeks,” notes Business Insider. Jobs are increasingly difficult to find because many jobs were offshored to China and the Asian slave labor gulag where workers earn pennies on the dollar of their counterparts in the United States. “This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour,” reports Business Insider.
 


Low paid jobs are now approaching 50% in the United States. “More than 40% of Americans who actually are employed are now working in service jobs, which are often very low paying.” As a consequence, more and more Americans are becoming impoverished and in need of government hand-outs. For the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011. In addition, approximately 21 percent of all children in the United States are living below the poverty line in 2010, the highest rate in 20 years.
Unemployment hovering around 20% or higher is now considered the new normal. It has become perpetual, argues Giordano Bruno, “and some economists are even suggesting that we accept it as a standard. The American public is now coming to realize that healthy job creation is a very distant goal, one that the government alone has no ability to achieve, bailout or no bailout.”

 Additional signs of distress include plunging U.S. home sales. Nearly 1 in 3 home sales are now foreclosures at rock bottom prices and home foreclosures will likely reach more than 1 million by the end of the year. A crash of commercial real estate now threatening to explode will and exacerbate the crisis Obama and the government insist is now on the mend.

Add to this a massive implosion of city and state debt and we are looking at a situation that will soon surpass the so-called Great Depression. In California, the situation is so dire the state’s governor Arnold Schwarzenegger has slashed the hourly wage for state workers to the minimum wage (about $455 a week), an act guaranteed to add millions of desperate people to welfare and food stamp rolls.
“But it just isn’t California that is in trouble,” explains the Economic Collapse blog. “Dozens of U.S. states are in such bad financial shape that they are getting ready for their biggest budget cuts in decades. What do you think all of those budget cuts will do to the economy?”
Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind — to crash the global economy and rebuild it from the bottom up by the banksters who will institute a global central bank and a one world government with an authoritarian control and police grid.
As Andrew Gavin Marshall noted last year, the coup de grĂ¢ce will be the debt bubble, now ominously unfolding. “Loose credit, easy spending and massive debt is what has led the world to the current economic crisis, spending is not the way out. The world has been functioning on a debt based global economy. This debt based monetary system, controlled and operated by the global central banking system, of which the apex is the Bank for International Settlements, is unsustainable. This is the real bubble, the debt bubble. When it bursts, and it will burst, the world will enter into the Greatest Depression in world history.”

Global Economy? 23 Facts Which Prove That Globalism Is Pushing The Standard Of Living Of The Middle Class Down To Third World Levels

The Economic Collapse
Feb 28, 2011

From now on, whenever you hear the term “the global economy” you should immediately equate it with the destruction of the U.S. middle class.  Over the past several decades, the American economy has been slowly but surely merged into the emerging one world economic system.  Unfortunately for the middle class, much of the rest of the world does not have the same minimum wage laws and worker protections that we do.  Therefore, the massive global corporations that now dominate our economy are able to pay workers in other countries slave labor wages and import the products that they make into the United States to compete with products made by “expensive” American workers.  This has resulted in a mass exodus of manufacturing facilities and jobs from the United States.
But without good, high paying jobs the U.S. middle class cannot continue to be the U.S middle class.  The only thing that the vast majority of Americans have to offer in the economic marketplace is their labor.  Sadly, that labor has now been dramatically devalued.  American workers now must directly compete for jobs with millions upon millions of workers on the other side of the world that toil away for 15 hours a day at slave labor wages.  This is causing jobs to leave the United States at an almost unbelievable rate, and it is putting tremendous downward pressure on the wages of millions of jobs that are still in the United States.
So when you hear terms such as “globalization” and “the global economy”, it is important to keep in mind that those are code words for the emerging one world economic system that is systematically wiping out the U.S. middle class.
A one world labor pool means that the standard of living for the U.S. middle class will continue falling toward the standard of living in the third world.
We keep hearing about how the U.S. economy is being transformed from a “manufacturing economy” into a “service economy”.  But “service jobs” are generally much lower paying than “manufacturing jobs”.  The number of good paying “middle class jobs” in the United States is rapidly decreasing.  So how can the U.S. middle class survive in such an environment?
What makes things even worse for manufacturers in the United States is that other nations often impose a “value-added tax” of 20 percent or more on U.S. goods entering their shores and yet most of the time we do not reciprocate with similar taxes.
But whenever someone mentions how incredibly unfair and unbalanced our trade agreements with other nations are, they are immediately labeled as a “protectionist”.

Well, someone should be looking out for U.S. interests when it comes to trade, because the current state of the global economy is ripping the U.S. middle class to shreds.
Right now, the United States consumes far more wealth than it produces.  This nation buys much, much more from the rest of the world than they buy from us.  This is called a “trade deficit”, and it is one of the most important economic statistics.  The U.S. runs a massive trade deficit every single year, and it is wiping out our national wealth, it is destroying our surviving industries and it is absolutely shredding middle class America.
We cannot allow tens of thousands of factories to continue to leave the United States.  We cannot allow millions of jobs to continue to be “outsourced” and “offshored”.  We cannot allow tens of billions of dollars of our national wealth to continue to be transferred into foreign hands every single month.
 
The truth is that the global economy is bad for America.  The following are 23 facts which prove that globalism is pushing the standard of living of the middle class down to third world levels….

#1 From December 2000 to December 2010, the U.S. ran a total trade deficitof 6.1 trillion dollars.
#2 The U.S. trade deficit was about 33 percent larger in 2010 than it was in 2009.
#3 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.
#4 The U.S. economy is rapidly trading high wage jobs for low wage jobs.  According to a new report from the National Employment Law Project, higher wage industries accounted for 40 percent of the job losses over the past 12 months but only 14 percent of the job growth.  Lower wage industries accounted for just 23 percent of the job losses over the past 12 months and a whopping 49 percent of the job growth.
#5 Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.
#6 In Germany, exports account for approximately 40 percent of GDP.  In China, exports account for approximately 30 percent of GDP.  In the United States, exports account for approximately 13 percent of GDP.
#7 Do you remember when the United States was the dominant manufacturer of automobiles and trucks on the globe?  Well, in 2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.
#8 In 2010, South Korea exported 12 times as many automobiles, trucks and parts to us as we exported to them.
#9 The U.S. economy now has 10 percent fewer “middle class jobs” than it did just ten years ago.
#10 The United States currently has 7.7 million fewer payroll jobs than it did back in December 2007.
#11 Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs.
#12 In 2002, the United States had a trade deficit in “advanced technology products” of $16 billion with the rest of the world.  In 2010, that number skyrocketed to $82 billion.
#13 The United States now spends more than 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.
#14 In China, working conditions are so bad that large numbers of “employees” regularly try to commit suicide.  One major employer, Foxconn, has even gone so far as to install “anti-suicide nets” in an attempt to keep their employees from jumping off of their buildings.
#15 Wages for workers in China are incredibly low.  For example, one facility in the city of Longhua that makes iPods employs approximately 200,000 workers.  These workers put in endless 15-hour days but they only make about $50 per month.
#16 In Bangladesh, manufacturing workers toil in absolutely horrific conditions and make an average of about $38 per month.
#17 In Vietnam, teenage workers often work seven days a week for as little as 6 cents an hour making promotional Disney toys for McDonald’s.
#18 Since 2001, over 42,000 manufacturing facilities in the United States have been closed.
#19 Half of all American workers now earn $505 or less per week.
#20 In the United States today, 6.2 million Americans have been out of work for 6 months of longer.
#21 8.4 million Americans are currently working part-time jobs for “economic reasons”.  These jobs are mostly very low paying service jobs.
#22 When you adjust wages for inflation, middle class workers in the United States make less money today than they did back in 1971.
#23 According to Willem Buiter, the chief economist at Citigroup, China will be the largest economy in the world by the year 2020, and India will surpass China by the year 2050.

Those that promote “free trade” can never explain how the U.S. middle class is going to continue to have plenty of jobs in the new global economy.
By merging our labor pool with the rest of the world, we have also merged our standard of living with the rest of the world.  High unemployment is rapidly becoming “the new normal” in America, and wages are going to continue to decline in many, many industries.
Already, there are quite a few formerly great U.S. cities (such as Detroit) that are beginning to resemble third world hellholes.  If something is not done about our massive trade imbalance, even more cities are going to follow Detroit into oblivion.
Unfortunately, most of our politicians continue to insist that globalism is good for our society.  They continue to insist that we should not be worried that jobs formerly done by middle class American workers are now being done by slave laborers on the other side of the globe.  They continue to insist that having 43 million Americans on food stamps is a temporary thing and that soon our economy will be better than ever.
Well, it is time to stop listening to the politicians that are promoting “the global economy”.  They are lying to us.
Globalism is great for nations such as China and it is helping multinational corporations make huge profits, but for the U.S. middle class it is an economic death sentence.
If you want an America where there are less jobs, where more Americans are on food stamps and other anti-poverty programs and where our cities continue to be transformed into deindustrialized hellholes, then you should strongly support the emerging global economy.
But if you care about the standard of living of the U.S. middle class and you want for there to be some kind of viable economic future for your children and your grandchildren then you had better start caring about these issues and doing something about them.
Please wake up America.

They Denied That We Were In A Depression In 1933 And They Are Doing It Again In 2013

VIDEO: Lew Rockwell - The Empire is Beginning to Crumble



VIDEO: Nigel Farage Confronts EU Communist Barroso on Global Warming Hoax



VIDEO: Gerald Celente - Trends In The News 8/30/13. "Moral Obscenities"








Thursday, September 12, 2013

VIDEO: The Obamacare Nightmare








VIDEO: World Turns to Russia for Leadership Instead of Corrupt U.S.



Prepare For Tough Times If Your Job Has Anything To Do With Real Estate Or Mortgages

Michael Snyder
Economic Collapse Blog
September 12, 2013

If you have a job that involves building homes, buying homes, selling homes or that is in any way related to the mortgage industry, you might want to start searching for alternate employment.  Seriously.  Interest rates are starting to rise dramatically, and mortgage lenders such as Bank of America, Wells Fargo and JPMorgan Chase are all cutting thousands of mortgage-related jobs.  Last week, mortgage refinance activity plunged to the lowest level that we have seen since June 2009 and total mortgage activity dropped to the lowest level since October 2008.  Unfortunately, this is only the beginning.  Mortgage rates closely mirror the yield on 10 year U.S. Treasuries, the the yield on 10 year U.S. Treasuries has nearly doubled since early May.  But it is still only sitting at about 3 percent right now.  As I have written about previously, it has a ton of room to go up before it hits “normal” historical levels, and so do mortgage rates.  As I noted the other day, some analysts believe that the yield on 10 year U.S. Treasuries is going to hit 7 percent eventually.  If that happens, mortgage rates will be more than double what they are today.  And we have already seen the average rate on a 30 year fixed rate mortgage go from 3.35 percent in May to 4.57 percent last week.  If interest rates continue to rise we could be heading for a “housing Armageddon” that will make the last housing crash look like a Sunday picnic.
The mini-housing bubble that we have been enjoying for the last couple of years is coming to an abrupt end.  It doesn’t matter what the mainstream media is telling you about a “sustainable” housing recovery.  Just look at how the big mortgage lenders are behaving.  They know the gig is up.  According to Bloomberg, Bank of America has just announced that they will be eliminating 2,100 mortgage-related jobs…
Bank of America Corp., the second-largest U.S. lender, will eliminate about 2,100 jobs and shutter 16 mortgage offices as rising interest rates weaken loan demand, said two people with direct knowledge of the plans.
Would they be doing that if we were really heading into a “sustainable housing recovery”?
And Wells Fargo and JPMorgan Chase are also both eliminating thousands of mortgage-related jobs
Mortgage lenders are paring staff as higher interest rates discourage refinancing and cast doubt on how long the housing market rebound will last. Wells Fargo & Co., the biggest U.S. home lender, plans more than 2,300 job cuts, and JPMorgan Chase & Co. may dismiss 15,000.
Would they be doing this if they thought that brighter days were ahead?
Of course not.
In fact, Well Fargo just announced that it expects to make 30 percent fewer home loans this quarter because of rapidly rising interest rates.
It’s over folks.
The mini-housing bubble that the mainstream media has been hyping so much is over.
If your job has anything to do with real estate or mortgages, it is time to start thinking about a career change.
This is especially true if your job is related to refinancing mortgages.  All of the smart people have already refinanced.  As rates continue to rise rapidly, the only ones that will be refinancing are really stupid people.  According to Zero Hedge, mortgage refinance activity has already dropped by a whopping 70 percent since early May…
For the 16th of the last 18 weeks, mortgage refinance activity plunged (dropping 20% this week alone).Since early May, when the dreaded word “Taper” was first uttered, refis have collapsed over 70%. With mortgage servicers and providers large and small laying people off, it seems hard for even the most egregiously biased bull to still suggest that the housing recovery is sustainable.
And this rise in interest rates is just getting started.  The Federal Reserve has not even begun to “taper” yet.  Once that starts happening, the consequences could be quite dramatic
“In early 1994, when the U.S. recovery gained strength, the Fed started a tightening cycle and bond markets crashed not only in the U.S. but also around the world,” European Central Bank Executive Board member Joerg Asmussen said on Tuesday.
“If spillovers were large in 1994, we can expect them to be even larger today in an even more deeply interconnected world,” he added in the text of a speech for delivery in Brussels.
Of course when the Federal Reserve “tapers” their quantitative easing it won’t really be “tightening” as much as it will be slowing down the pace at which they are recklessly creating tens of billions of dollars out of thin air.  But the effect will be similar to what we saw back in 1994.
As interest rates rise, it will become much more expensive to buy a home and much more difficult to sell a home.  To give you an idea of how dramatically interest rates can affect housing affordability, I wanted to share some numbers from one of my previous articles
A year ago, the 30 year rate was sitting at 3.66 percent.  The monthly payment on a 30 year, $300,000 mortgage at that rate would be $1374.07.
If the 30 year rate rises to 8 percent, the monthly payment on a 30 year, $300,000 mortgage at that rate would be $2201.29.
Does 8 percent sound crazy to you?
It shouldn’t.  8 percent was considered to be normal back in the year 2000.
Are you starting to get the picture?
As interest rates go up, home prices will have to fall.  Otherwise, nobody will be able to afford them.
 
In the end, we could end up with tens of millions more homeowners that are substantially “underwater” on their mortgages.
So who is to blame?
The Federal Reserve of course.
They created this bubble by forcing interest rates down to record low levels.
At some point it was inevitable that interest rates would start reverting back to more “normal” levels, and that “adjustment” is going to be immensely painful for the U.S. economy.
As we saw back in 2008 and 2009, when the housing industry suffers the entire economy suffers.
And the higher that interest rates go, the more suffering there will be.
So let us hope and pray that interest rates do not go any higher, but let us also start preparing for the very worst.