Sunday, December 19, 2010

America's Second Great Depression 2010 Year-End Update (Part 1)

As clueless as Bernanke has been, if you follow what he says closely, on occasion you will see his own admission that the U.S. is either in a depression or is certainly headed for one.

For instance, on Tuesday November 30, 2010, as Bernanke attempted to defend his recent decision to buy $600 billion of U.S. Treasuries, he made ridiculous claims that this quantitative easing would lead to more jobs. He then used the often used scare tactic to justify this move by saying that a long period of high unemployment could exact a steep social cost.
"There are obviously very severe economic and social consequences from this level of unemployment," so getting new jobs, getting unemployment down is of an incredible importance."
“The unemployment rate is still going to be high for a while, and that means that a lot of people are going to be under financial stress.”

Recently, Bernanke predicted unemployment will remain high for "four or five years."  [2]
So what is Bernanke trying to say? Read between the lines for yourself. First, he has said that there will be very severe social and economic consequences from this high level of unemployment. What does “Very severe social and economic consequences” mean? Quite simply, it means a depression.
Then, on December 5, 2010, Bernanke stated that unemployment will remain high for four or five years. By now I’m sure you realize any estimate that sides with optimism by the Fed is a severe understatement. What that means is that high unemployment will last much longer.
But this by no means provides any useful guidance by Bernanke. It should be obvious to any rational adult that we are in a depression. I detailed the causes and effects of this depression in America’s Financial Apocalypse four years ago.
More Here..


Censor Web Or Else... 


Sweeping New Internet Rules 


Financial Meltdown Coming: 60 Minutes (Video)

14 comments:

  1. Wickileaks , internet censorship and bankster conspiracy plot ?

    Premise and fact :

    ALL the big World scale TBTF banks are insolvent and only propped up by continual Central banks handouts .


    I expect that the Wickleaks months long threated plan to release the gossip on Bank of America and Wickileaks advice to people to put their money in a “safer “bank
    …(there is no such animal left in the USA) … may be part of a plan designed to create a bank run At BoA leading to its nationalization for another US taxpayer bailout .
    One TBTF bank reorganization at a time?
    A banksters conspiracy that may be supported by leaks from one or more government intelligence services The CIA ,the Uks MI 5/6 ,Mossad or even other players.

    The dominant banking groups of anglo/capitalism compete as well as contend for profits and it is wrong to see the crisis as one simple grand conspiracy directed by a top all controlling conspirator on high E.G .the Rothschild family tribe.
    Although the Rothschild’s group may hold the main shares or control in the franchise of the international Cental Banks, the money printing and national debts side of the banking business !
    While other banking groups may make their loot in the traditional fractional reserve bankers money scams for morgages credit card debts etc.
    In England(UK ) the big banks in most trouble were nationalized and bailout money injected .
    In America exept for the obviously already collapsed investment banks and the main counter party to their derivative bets AIG the banks were not nationalized but just handed the bailout money.

    Your current losses are socialized .So carry on and trade your way out of trouble !
    But even the banksters anfd the fed know while there have been great profits in the short term that is only the road to monetary collapse and more obvious bailouts for the TBTF are politically untenable but a necessity for keeping the game going.
    Yet even the banksters know something more is required to try and regain confidence in the banking system is required besides continual drip feed bailouts .
    Something will have to be seen to be done to fix the system!
    Bank of America with its large holdings of dud bonds and mortgages may have been selected as the banksters fall guy for going through nationalization and reorganization at the taxpayers expense first.
    If that is the case BoA may have been first loaded up with a stack of the worst of the dud bonds and arrangements organized to handle and minimize the worst of the derivative bets losses between the rest of the banks.
    In comparison to BoA ,the rotten apple and its “unexpected” collapse , the rest of the TBTF banks might then appear to be sound!


    It will of course be claimed that without the “criminal” Wickileaks disclosure of gossip, threatening a bank run , that BoA was really fine and sound and well on the way to recovery , just like America and the rest of the TBTF .

    Proving the urgent necessity of international internet censorship in order to stop malicious and irresponsible gossip by anarchistic whistleblowers like Wickileaks threatening the stability of the entire worlds “sound but now recovered” financial sector .

    killing two birds with one controled leak.

    ReplyDelete
  2. People are misguided who assume this depression we have been in will be like the first Great Depression in the sense that they call it the Great Depression Two/II. This will be far from what the Great Depression was.

    Information flies like light in today's world, people are crowded around things they don't want to be around thanks to multiculturalism. In other words you have swarms of people divided in just one region into several different major belief systems. This alone will cause excruciating tension in the collective EMF for those points in spacetime.

    Cell phones, radios, television, magazines - all leading to social isolation and self-inadequacy, along with the sexualization and material advertisement blasted on the masses of minds to keep them in a hypnotic trance and to breed in them a parasytic/vampiric consumption fixated life pattern has done a great deal in dumbing the world down and putting people in a warped state of perception. More notably for the western nations (Britain, US, Canada).
    Drugs, alcohol, facebook, myspace, pc games, chat forums, text messaging, porn, sports, and all the like are used for anesthesia of the brain. As long as one can zonk themselves out, they'll feel pretty good even if the world is burning.

    Occurring with this, the polarities from the interspersed proponents of conflicting dialecticals, government growing and pushing pressure on people, groups reacting and causing pressure on localities of people, and globalized and intertwined fabrics and networks of economies, societies, and collective conscious (being divisive to the core) is only causing quicker accumulations of waves with higher amplititude that strike humanity in broken gauge symmetries.

    For this bottom-up, top-down, and prodigiously interconnected holistic field of energy, all reduced points (broken gauge symmetries, or decisions in growing entropy=(possible states of the system)), any little mistake, error, or fluke can have far more devastating results than something five years back, 10 years back, 100 years back, or 1,000 years back would have. Take note: The brevity is getting shorter as acceleration grows in this conditional sensitivity.

    I don't know whether absolute destruction will come, if a mystical energy will come to our aid, or how the chaos will look when it is on its way further to the singularity of the asymptope. What I can count on however, is that any planning/banking on what's currently used by the established order of humanity will be utterly futile.

    ReplyDelete
  3. I spent the weekend with upper-class professionals. Only a few of them continue to do well. Just are many were either going broke or might lose their homes.

    One was considering emigrating to the Netherlands; she had already checked out Puerto Rico and found out that woman are legally not allowed to own property there (which I never knew). Another was afraid the bond market would implode any minute. A third, who lived in Massachusetts, said she had to come up annually with $8000 in property taxes and $14,500 in mandated health insurance premiums, but business was terrible and she might have to sell her house. Yet another friend, who already was broke, was considering selling whatever she had left and living on the beach in Hawaii (because she wouldn't have to pay for air conditioning and heating).

    It's getting very crazy out there.

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  4. Typed the wrong word. I meant "just as many."

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  5. on bloomberg all this week golds in a bubble
    what a fukin joke
    who cares about gold
    the head of chase people want to be in cash.
    ill buy more gold on dips.
    i wouldnt listen to you bloomberg for nothing you scum.and your bums in banking arent worth snot.
    golds in a bubble
    no the us currencey is worthless crap

    ReplyDelete
  6. 902 i agree
    all these so called experts arent worth a degree
    in idiocey they are the cause.
    lackys who destroyed america
    be in the dollar as it becomes worthless
    and we get another 500 million dollar bonus hahaahaaahahahahahahhaahha
    suckas
    got gold?

    ReplyDelete
  7. oh yea best is bloomberg said anyone who buys gold is a conspiracey theroist,
    really? really?
    let me see gold 300 an ounce america bankrupt the world broke. wars more wars
    china with an aircraft carrier.
    inflation
    conspiracy thier smoking bags of crack at bloomberg.
    i seen a post a gold machine in florida one.
    the gold bubble is over really really?
    delusion is a way of life in america please sell your gold please.
    its still cheap and i like it that way.
    got gold?

    ReplyDelete
  8. Very few financial experts are were anything...Not all naysayers are part of the "Cabal" either.

    Just this depression is incredibly complex and scary...The few that do understand it are scared sh*tless...The ones that don't think it's just a hard cycle.

    Be kinda nice to see an economist on unemployment trying to explain to me how it will all get better.

    Funny thing is most economists are slightly upper middle class if that...Few are rich...Kinda like the acting teacher who can't get acting jobs.

    ReplyDelete
  9. It is almost impossible to tell you how I feel about out good thang that we have here in America. If 60 Minutes did not wake your dumb ass up, nothing will. Take a look at the video. You see, your good thang is about to come to an end.

    http://www.youtube.com/watch?v=6bRWlrSbblo

    ReplyDelete
  10. Dam the economy is so much better we have exstended unemployment again

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  11. Finally! Someone who really has it right - I hope everyone reads the entire thing.

    This country is so big, so vast, so powerful and so rich that a collapse is almost ( almost)
    impossible. There are just too many intelligent individuals doing too many things on any given day.

    Instead it is a slow demise of a culture gone awry. The kids coming out of college who owe 50k
    will not be able to get that posh job, the guy who went to bed in '09 with a 100k job thinking he had the world by the ass will wake up in '12
    broke but still able to borrow.

    It is like a slow leak in your tire - but she's a comin' - one morning we'll all wake up and then realize that over half the air is out of said tire.

    That's when the real choices will start, But like he says - until then "the lucky majority" are simply bumping along.

    That's what I could never quite get a handle on - I mean if you still have agreat job; nothing much has changed - but boy; if your one of the unlucky ones that don't

    Times sure have changed - big time!

    ReplyDelete
  12. 60 minutes (Reality) VS Nightly News (Propaganda)
    by Eric deCarbonnel

    http://www.marketskeptics.com/2010/12/60-minutes-reality-vs-nightly-news.html


    REALITY:

    60 minutes—Unemployment Benefits: The 99ers
    Even after an extension of unemployment benefits to 99 weeks, many of those about to go off the program are in a quandary. Scott Pelley talks to some of them in Silicon Valley.
    PROPAGANDA:

    Nightly News—BACK TO BASICS: CAREER CHANGE
    Forced into a career change, a lucky few found they were better off for it. NBC's Mike Taibbi reports.
    Conclusion ?

    Don't watch the evening news! It is poison which will rot your mind.

    ReplyDelete
  13. It is a mistake to view this current economic crisis as Americas "Second" Great Depression.
    There have been a number of "great depressions" in America and in world history.
    They are a re -occurring if irregularly timed necessary feature of capitalism, most have entered histories "memory hole" and been glossed over in American education /brainwashing as only events of ancient history.
    That has not happened yet to the last great depression as it is still in recent working peoples family history and memory.
    For examples .See

    http://en.wikipedia.org/wiki/Depression_(economics)

    "Long Depression"
    For more details on this topic, see Long Depression.
    Starting with the adoption of the gold standard in Britain and the United States, the Long Depression was indeed longer, but shallower...but was known until the 1930s as "the Great Depression".
    [edit] Panic of 1837
    Main article: Panic of 1837
    The Panic of 1837 was an American financial crisis, built on a speculative real estate market.[9] The bubble burst on May 10, 1837 in New York City, when every bank stopped payment in gold and silver coinage. The Panic was followed by a five-year depression,[9] with the failure of banks and record high unemployment levels.
    History teaches you must be prepared for depressions .

    ReplyDelete

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