tag:blogger.com,1999:blog-53870532841492265712024-03-19T07:53:30.516-04:00The Coming DepressionEconomic Analysthttp://www.blogger.com/profile/04338902162073990568noreply@blogger.comBlogger5161125tag:blogger.com,1999:blog-5387053284149226571.post-52675567028890058262013-02-09T10:33:00.001-05:002013-02-14T06:13:02.509-05:00College Graduates Are The New Debt Slaves<div dir="ltr" style="text-align: left;" trbidi="on">
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With the average cost of attending college in America at $120,000, a family of four should expect their children’s college to cost more than a home. Yet, optimism about the value of education provided justification for students to borrow $42 billion from the US this year. And many of them will end up as student-loan debt slaves. <br />
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With the estimated cost of attending a four year state college in America at $120,000, the average family of four should expect their children’s college to cost more than buying a home. Even though only 24% of Americans believe college is affordable, 97% still believe getting a college degree is financially important to improve your life. This optimism regarding the value of education has provided the justification for 60% of the 20 million students in college last year to borrow $42 billion from the United States government this year to stay in school. But with the reward for a college degree falling and default rates sky-rocketing, many students and their parents will end up as the student loan debt slaves. <br />
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College tuitions since 1986 have risen by a breath taking 498%, compared to 115% for general price inflation. The main driver for this hyper-inflation was the dramatic expansion of the Federal Stafford Loans since 1992, following Congress’ elimination of requirement that government-backed student loans be subject to parental income restrictions. The most enticing aspect of these sub-prime loans is that repayment is deferred while a student is enrolled as at least a half-time student, then are subject to a grace period for six months after the student leaves school either by graduating, dropping below half-time enrollment, or withdraws. The sudden access to billions of dollars in “free money” allowed highly unionized colleges to dramatically increase tuition rates without fear of driving away financially strapped under-graduates. <a href="http://www.thecomingdepressionblog.com/college-graduates-are-the-new-debt-slaves/"><i><b>Read more...</b></i></a></div>
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While Europe’s fiscal woes seem to be on everyone’s financial radar recently, and rightfully so, there is instability everywhere.<br />
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This is a global economic crisis and it’s affecting hundreds of millions of people all over the world.<br />
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Earlier this week Argentine President Cristina Kirchner responded to her country’s sky-rocketing inflation rates by freezing prices on food, a move Forbes magazine says will soon lead to widespread corruption in the business community and government.<br />
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In Venezuela, where President Hugo Chavez has attempted to control all aspects of his country’s economy, price freezes instituted on essential goods like diapers and cleaning products over a year ago failed to curb soaring inflation which registered at over 22% last year. In response, with their quiver out of arrows, the Venezuelan government announced today that they are devaluing their national currency, the Bolivar, by over a third. The announcement had the immediate impact of increasing the price for a US dollar in Bolivar by nearly 50%.<br />
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By boosting the bolivar value of Venezuela’s dollar-denominated oil sales, the change is expected to help ease a difficult budget outlook for the government, which has turned increasingly to borrowing to meet its spending obligations.<br />
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But analysts said the move would not be sufficient to end the government’s budget woes or balance the exchange rate with an overvalued currency. Economists predicted higher inflation and a likely continuation of shortages of some staple foods, such as cornmeal, chicken and sugar. <a href="http://www.thecomingdepressionblog.com/south-america-goes-critical-now-chavez-devalues-currency-this-may-well-be-the-lighting-of-the-proverbial-fuse-everywhere/"><i><b>Read more....</b></i></a></div>
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I was recently asked by someone in a conversation “What is a Prepper”? I started to answer the question with a knee jerk reaction being that a prepper is someone with a cache of bullets, band aids and beans stored away in the event that the world shows signs of coming to an end via economic collapse, EMP events, Madrid earthquakes or other major disasters. After a long pause, my definition came out of my mouth and it was that a prepper is simply one who prepares.<br />
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This led to a short conversation spurred on by the person asking what they are preparing for. We talked for a little bit and ended the conversation both a bit confused because they didn’t understand why someone would can meat when they can freeze it and I couldn’t understand how they haven’t heard about a power outage lasting for more than a week. It was not surprising to see our conversation go in that direction and end the way it did given that upwards of 95% or more of the population just don’t see that there is any reason to think that society can break down, but what was surprising was the thought process I had that followed our conversation.<br />
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Make no mistake about it; there will be a crash of some sort and depending on how far we fall will determine how bad it is. We are a hand to mouth society far removed from the habits of our ancestry who stored food in their cellars, produced food in fields and gardens and had food producing animals out in the back 40 to sustain them. Today procurement of food is completed via going continually to the grocery store, eating out and ordering in. Virtually no one is paying attention to how long a person’s family will last if that supply chain is disrupted for any reason. <a href="http://www.thecomingdepressionblog.com/the-prepper-filter-11-questions-that-will-help-you-be-a-better-prepper/"><i><b>Read more....</b></i></a></div>
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Once a bastion of European success and center of tourism, the country of Greece has become the harbinger of things to come for the rest of the world’s developed nations.<br />
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Not long ago Greeks were enjoying high paid salaries, early retirements, excess cash, and seemingly never ending economic growth.<br />
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Today, just a short time after a financial collapse that rocked global financial markets, Europe’s darling has turned into a frightening example of what happens when governments and their people take on more debt than they can ever hope to repay.<br />
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The end result is a warning to the rest of us.<br />
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Hundreds of people jostled for free vegetables handed out by farmers in a symbolic protest earlier on Wednesday, trampling one man and prompting an outcry over the growing desperation created by economic crisis.<br />
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Images of people struggling to seize bags of tomatoes and leeks thrown from a truck dominated television, triggering a bout of soul-searching over the new depths of poverty in the debt-laden country.<br />
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“These images make me angry. Angry for a proud people who have no food to eat, who can’t afford to keep warm, who can’t make ends meet,” said Kostas Barkas, a lawmaker from the leftist Syriza party. <a href="http://www.thecomingdepressionblog.com/watch-greeks-fight-for-food-i-never-imagined-that-i-would-end-up-here/"><i><b>Read more....</b></i></a></div>
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Speculation abounds surrounding the 2 billion rounds of ammunition purchased by the Department of Homeland Security and other national alphabet agencies in recent years. Moreover, as the White House and their cohorts in Congress contemplate the disarming of American citizens, the very assault weapons purported to be so dangerous in the hands of law abiding gun owners are being purchased in mass quantities by local and federal law enforcement agencies.<br /><br />So what is the purpose and motivation behind the government’s continued efforts to stockpile so much firepower?<br /><br />One frightening theory could explain what the President and his national security apparatus are up to.<br /><br />Many of you will remember a story I broke a long time ago – about presidential candidate Barack Obama’s little-noticed announcement that, if elected in 2008, he wanted to create a “civilian national security force” as big, as strong and as well-funded as the Defense Department.<br /><br />Here’s what he actually said at a campaign stop in Colorado July 2, 2008:<br /><br />“We cannot continue to rely only on our military in order to achieve the national security objectives we’ve set. We’ve got to have a civilian national security force that’s just as powerful, just as strong, just as well-funded.” <a href="http://www.comingeconomicdepression.org/are-all-those-guns-and-ammunition-for-obamas-civilian-national-security-force/"><i><b>Read more...</b></i></a></div>
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When Josef Stalin instituted a campaign of purging dissidents in the 1930′s, some 17 million people were left dead or missing by the time it was all said and done.<br />
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Had you been targeted for extermination during this Great Purge, your chances of survival very rapidly approached zero.<br />
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Most became victims when their government classified them as enemies of the state.<br />
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Some, however, and against all odds, found a way to survive.<br />
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This forest [Russian Taiga] is the last and greatest of Earth’s wildernesses. It stretches from the furthest tip of Russia’s arctic regions as far south as Mongolia, and east from the Urals to the Pacific: five million square miles of nothingness, with a population, outside a handful of towns, that amounts to only a few thousand people.<br />
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Thus it was in the remote south of the forest in the summer of 1978. A helicopter sent to find a safe spot to land a party of geologists was skimming the treeline a hundred or so miles from the Mongolian border when it dropped into the thickly wooded valley of an unnamed tributary of the Abakan, a seething ribbon of water rushing through dangerous terrain. The valley walls were narrow, with sides that were close to vertical in places, and the skinny pine and birch trees swaying in the rotors’ downdraft were so thickly clustered that there was no chance of finding a spot to set the aircraft down.<br />
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But, peering intently through his windscreen in search of a landing place, the pilot saw something that should not have been there. It was a clearing, 6,000 feet up a mountainside, wedged between the pine and larch and scored with what looked like long, dark furrows. The baffled helicopter crew made several passes before reluctantly concluding that this was evidence of human habitation—a garden that, from the size and shape of the clearing, must have been there for a long time. <a href="http://www.thecomingdepressionblog.com/a-true-survival-story-taking-their-possessions-and-some-seeds-they-had-retreated-ever-deeper-into-the-forest/"><i><b>Read more....</b></i></a></div>
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Gun control advocates say deadly assault weapons have no business being on the streets of America.<br />
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But, apparently, those same people who would restrict you of your ability to defend yourself have no objections to fully loaded military gunships flying over American population centers.<br />
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That’s exactly what happened in Miami, Florida recently when the U.S. military, in conjunction with local law enforcement agencies, staged an “urban training exercise,” justifying the action as as preparation of our troops for deployment overseas.<br />
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If we’re supposedly pulling our military out of Afghanistan and Iraq, which urban environment is it that the military and local police are training for?<br />
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Military “exercises” in populated urban environments are now so routine, so commonplace, they are no longer reported by the national media and are left as “human interest” stories for local news stations. <a href="http://www.thecomingdepressionblog.com/gunships-over-miami-machine-gun-fire-strafing-runs-troops-rappelling-from-choppers-and-road-blockades/"><i><b>Read more....</b></i></a></div>
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Nunc Pro Tunc: The Coming Day of Burn Barrels and Blessings<br />
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This is a standing invitation to my fellow Americans: If congress ever enacts a law mandating the registration and/or a production ban of detachable magazine semiautomatic rifles then you are hereby invited to the town square of your local community. There, burn barrels will be set up and we will publicly burn Form 4473s, FFL Bound Books, state and local registration records, and the sales receipts for every firearm in the United States. On that same day, FFL holders and public officials holding electronic firearms records will simultaneously erase those records, permanently and irretrievably. (Using special file erasure software such as Blancco, X-Ways, and Stellar Wipe, or though the physical destruction of disk drives.)<br />
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Spontaneous Gatherings, Spontaneous Combustion<br />
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This burn barrel day–likely to be held the day after the President signs any new draconian legislation–will include speeches, public prayers, and the blessing of those who have gathered by ministers, rabbis, and priests.<br />
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The core of the activities on that day will be stalwart public defiance of any new unconstitutional law(s), the open and notorious destruction of records that might be used to enslave us, and vocal public affirmations of solidarity of free men and women, in the face of tyranny. This will be a defining moment for America–a line drawn in the sand. We will forthrightly declare that we will not obey any unconstitutional law and that we will treat it dismissively, as if it had never been enacted – nunc pro tunc. We will pledge ourselves to the defense of liberty, both individually and collectively. We will vow that if ever called to jury duty, we will nullify any unconstitutional laws, vacating the charges against the accused, in accordance with our long-standing right as jurors. <a href="http://www.thecomingdepressionblog.com/defiance-this-is-a-standing-invitation-to-my-fellow-americans/"><i><b>Read more....</b></i></a></div>
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A recent appointment of Rothschild as “financial advisor” by the Board of Directors of gold exploration company Spanish Mountain Gold is yet another unmistakable indication that the ancient family is moving the world’s gold supply to both “emerging markets” and Central Banks worldwide, strengthening the family’s monopoly position when the fiat-based house of cards comes crashing down in the West.<br /><br />The Board of Directors of the British Columbia based gold exploration companyappointed Rothschild to “review strategic options with the objective of maximizing shareholder value.” In July of 2012, Spanish Mountain Gold’s CEO Brian Groves boasted already that the excavation in British Colombia is a project worth “several million ounces in gold” and is backed by “an enormous network of connections globally”, Groves told Resource Clips.<br /><br />Indeed, this recent appointment of Rothschild’s financial expertise (from centuries worth of experience) has increased the value of this company somewhat, propelling the gold-producing company into newer heights (or depths), depending on what end of the gold bar you find yourself. It also is a sure sign that the family is tightening its grip on gold, in both the excavation, the producing and the trading phase.<br /><br />In the beginning of this century there were signs that Rothschild was starting to pull back from gold. With the announcement of Lord Jacob Rothschild that his “investment vehicle” RIT Capital Partners “has ridden the rally in gold prices but will now incrementally sell down” many observers were led to believe the ancient house was abandoning the precious stuff. Jacob Rothschild stated in 2011: <a href="http://www.thecomingdepressionblog.com/house-of-rothschild-hoarding-gold-in-face-of-coming-collapse/"><i><b>Read more....</b></i></a></div>
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Globalist kingpin, renowned war criminal and Rockefeller co-conspirator Henry Kissinger is talking up a nuclear conflagration.<br /><br />Speaking at the one-worlder confab held in Davos, Switzerland, Kissinger said a crisis involving a nuclear Iran in the “foreseeable future” will lead to a nuclear war and “a turning point in human history,” the BBC reports.<br />“There has emerged in the region, the current and most urgent issue of nuclear proliferation. For 15 years, the permanent members of the United Nations Security Council have declared that a nuclear Iran is unacceptable, but it has been approaching,” Kissinger said.<br /><br />He then said governments will “come to a determination of how to react, or the consequences of non-reaction… [in] a few years.”<br /><br />Under the terms of the 1968 Nuclear Non-Proliferation Treaty, Iran has the right to produce nuclear power for peaceful purposes. The United Nations International Atomic Energy Agency has found no evidence Iran is developing a nuclear weapons program and Defense Secretary Leon Panetta told Face the Nation earlier this month that Iran is not currently building a nuclear weapon.<br /><br />In 2012 American spy agencies agreed with a 2007 intelligence finding that concluded Iran had abandoned its nuclear weapons program. “The officials said that assessment was largely reaffirmed in a 2010 National Intelligence Estimate, and that it remains the consensus view of America’s 16 intelligence agencies,” the New York Times reported. <a href="http://www.thecomingdepressionblog.com/kissinger-predicts-nuclear-war-with-iran/"><i><b>Read more....</b></i></a></div>
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In the wake of the Newtown tragedy, Americans immediately responded in the way we often do – emotionally looking to scapegoat someone or something and react in a completely knee jerk fashion. As a country, we have decided we can control anything through legislation and when that bubble is burst by the actions of a truly insane individual we struggle to make the realities of life fit into our cultural narrative.<br /><br />In the wake of the Sandy Hook horror, the media has scapegoated violent films and video games as a possible cause for the rise of mass shootings. To entertain that notion for more than a second would mean to succumb to the same level of discourse as the folks who believe the solution to all of our problems is arming the teachers.<br /><br />First, there are no video games or movies that exist only in the United States. We don’t have a monopoly on Call of Duty games and James Bond films. Any amount of violence we see if available equally as freely in most every part of the world.<br /><br />Second, we are not the biggest consumer of violent films and video games by far. The Netherlands and South Korea spend nearly three times as much on video games as the United States. Countries like Germany, Canada, Australia, Japan, France, and The United Kingdom all spend more on video games as well. The Call of Duty franchise alone has sold over 100 million copies while the Grand Theft Auto franchise has sold over 115 million copies. <a href="http://www.thecomingdepressionblog.com/are-video-games-making-us-more-violent/"><i><b>Read more....</b></i></a></div>
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Unclaimed property comes from a variety of sources, including abandoned bank accounts and stock holdings, unclaimed life insurance payouts and forgotten pension benefits.<br /><br />Millions of Americans are missing out on billions in forgotten cash.<br /><br />Currently, states, federal agencies and other organizations collectively hold more than $58 billion in unclaimed cash and benefits. That's roughly $186 for every U.S. resident. The unclaimed property comes from a variety of sources, including abandoned bank accounts and stock holdings, unclaimed life insurance payouts and forgotten pension benefits.<br /><br />Some people are owed serious cash. Last year, a Connecticut resident claimed $32.8 million, proceeds from the sale of nearly 1.3 million shares of stock. The recipient of the funds requested to remain anonymous and no further details were provided.<br /><br />More than $300 million in pension benefits is currently owed to some 38,000 people, according to the Pension Benefit Guaranty Corp. The unclaimed benefits currently range from 12 cents to a whopping $704,621, with an average benefit of $9,100. Benefits may go unclaimed because an employee is unaware they had accrued retirement benefits at a previous employer, the agency said.<br /><br />However, the majority of the forgotten funds -- roughly $41.7 billion -- are held by the states, according to the National Association of Unclaimed Property Administrators. <a href="http://www.thecomingdepressionblog.com/58-billion-unclaimed-is-some-of-it-yours/"><i><b>Read more....</b></i></a></div>
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Alex Jones is joined in-studio by author and journalist Jerome Corsi. Dr. Corsi discusses Obama’s second term agenda and Dr. Jim Garrow’s claim that Obama is using a “litmus test” to determine who in the military will fire on U.S. citizens.<br /><br />Corsi is the author of numerous books including, America for Sale: Fighting the New World Order, Surviving a Global Depression, and Preserving USA Sovereignty and Where’s the Birth Certificate?: The Case that Barack Obama is not Eligible to be President.<br /><br />The Obama administration is quietly allowing China to acquire major ownership interests in oil and natural gas resources across the U.S. <a href="http://www.thecomingdepressionblog.com/obamas-plan-to-destroy-america/"><i><b>Read more....</b></i></a></div>
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With emotions running high in the aftermath of the Newtown Sandy Hook shooting, politicians on the State and Federal level have begun introducing legislative actions to curtail access to firearms protected by the Second Amendment. In Missouri, parents may soon be forced to register firearms with their child’s school under threat of criminal penalties. In Massachusetts, another proposal would require storage of semi-automatic rifles at government approved storage depots. And, in the State of New York, congressional representatives have already passed legislation that requires registration of every semi-automatic rifle and reduces maximum magazine capacity to 7 rounds of ammunition, and Governor Cuomo has floated the idea of gun confiscation.<br /><br />Now, in what is sure to be a growing trend across the entire country, New York gun owners are organizing a resistance against what many believe to be the most, “brazen infringement on the right to keep and bear arms anywhere in the nation,” according to The New American:<br /><br /><b>Preparations are already being made for mass resistance.</b><br /><br />“I’ve heard from hundreds of people that they’re prepared to defy the law, and that number will be magnified by the thousands, by the tens of thousands, when the registration deadline comes,’’ said President Brian Olesen with American Shooters Supply, among the biggest gun dealers in the state, in an interview with the New York Post. <a href="http://www.thecomingdepressionblog.com/the-resistance-begins-new-york-gun-owners-refuse-to-register-largest-act-of-civil-disobedience-in-state-history/"><i><b>Read more....</b></i></a></div>
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The 2012 annual report for the federal government, released last week, continues to use dubious accounting standards to avoid putting the cost of government retirement promises into the headline deficit of $1.1 trillion. But its disclosures have improved somewhat, and the new information should be read closely.<br /><br />One example is the cost, in today’s dollars, to make Social Security and Medicare solvent for the next 75 years. This grew to $38.6 trillion, an increase of $4.7 trillion over the prior year. According to the report, Americans’ aging drove $1.6 trillion of the increase; the rest mostly reflected poorer-than-expected economic growth.<br /><br />The Government Accountability Office noted that “the economic recovery has been slower than was assumed” and pointed to a reduction in hours worked by average Americans and an increase in the number of disabled Americans. These trends mean less revenue for Social Security and Medicare from future payroll taxes, so we need an additional $3.1 trillion in today’s dollars — or tomorrow’s income taxes — to pay for the programs.<br /><br />This is not surprising. Real gross domestic product grew at just 1.6 percent annually from 2001 to 2011, and the Treasury assumes a future growth rate of 2.1 percent. But the average annual growth rate from 1951 through 2001 was 3.4 percent. Every year of slow growth decreases the amount brought in from payroll taxes. This hits younger Americans twice, with a smaller economy and higher personal income tax rates to pay for baby-boomer retirements. It’s like the Woody Allen joke about the food being terrible and coming in such small portions. <a href="http://www.thecomingdepressionblog.com/health-care-threatens-to-crush-u-s-growth/"><i><b>Read more....</b></i></a></div>
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The European Central Bank said banks will next week repay more of its emergency three-year loans than economists forecast in another sign the euro region’s debt crisis is abating.<br /><br />Some 278 financial institutions will return 137.2 billion euros ($184.4 billion) on Jan. 30, the first opportunity for early repayment of the initial three-year loan, the Frankfurt- based ECB said in a statement today. That compares with the median forecast of 84 billion euros in a Bloomberg News survey of economists. The ECB’s first loan totalled 489 billion euros and banks can continue to make early repayments in coming weeks.<br /><br />“The ECB is taking back some of the extra liquidity it injected into the banking system a year ago,” said Christian Schulz, senior economist at Berenberg Bank in London. “This is a stark contrast to other central banks such as the U.S. Federal Reserve, the Bank of England and the Bank of Japan, who are still blowing up their balance sheets. No wonder that the euro exchange rate is going up.”<br /><br />The euro rose about half a cent after the report to $1.3465, the highest since February last year. It traded at $1.3437 at 1:15 p.m. in Frankfurt.<br /><br />The ECB flooded financial markets with two tranches of so- called Longer Term Refinancing Operations totaling more than 1 trillion euros a year ago after banks stopped lending to each other because of Europe’s debt crisis. Banks have the option of repaying the loans, which were offered at the average of the ECB’s benchmark rate over their duration, after a year. <a href="http://www.thecomingdepressionblog.com/ecb-says-banks-to-repay-more-than-forecast-of-3-year-loan/"><i><b>Read more....</b></i></a></div>
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Federal Reserve Chairman Ben S. Bernanke’s unprecedented bond buying pushed the Fed’s balance sheet to a record $3 trillion as he shows no sign of softening his effort to bring down 7.8 percent unemployment.<br /><br />The Fed is purchasing $85 billion of securities every month, using the full force of its balance sheet to stoke the economic recovery. The central bank began $40 billion in monthly purchases of mortgage-backed securities in September and added $45 billion in Treasury securities to that pace this month.<br /><br />“We’re in uncharted territory,” said Julia Coronado, chief economist for North America at BNP Paribas SA in New York, and a former Fed economist. Even as “the easy money will flow through financial markets and into the real economy at some point and lift us to a better growth trajectory,” the U.S. faces “a lot of risks,” she said.<br /><br />The Fed’s total assets climbed by $48 billion in the past week to $3.01 trillion as of Jan. 23, according to a release from the central bank yesterday in Washington. The announcement came as the Standard & Poor’s 500 Index closed at the highest level since December 2007.<br /><br />Fed policy makers have voiced increasing concern that record-low interest rates are overheating markets for assets from farmland to junk bonds, which could heighten risks when they reverse their unprecedented bond purchases.<br />
<br />Yet with unemployment still high almost three-and-a-half years since the economy began its recovery, Fed officials are expected to affirm their accommodation when they meet in Washington to discuss policy on Jan. 29-30. <a href="http://www.thecomingdepressionblog.com/fed-pushes-into-uncharted-territory-with-record-assets/"><i><b>Read more....</b></i></a></div>
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Georgia congressman Paul Broun hit out this week at his favourite target, President Obama, stating that he has no concept of the US Constitution.<br /><br />In an interview with the Atlanta Journal-Constitution, Broun, a frequent critic of Obama noted “I think my role is to uphold support and defend our Constitution.”<br /><br />“The Constitution I uphold and defend is the one I carry in my pocket all the time, the U.S. Constitution,” Broun added.<br /><br />“I don’t know what Constitution that other members of Congress uphold, but it’s not this one. I think the only Constitution that Barack Obama upholds is the Soviet constitution, not this one. He has no concept of this one, though he claimed to be a constitutional lawyer.” the Congressman also said.<br /><br />Congressman Broun has been a thorn in the side of Obama’s agenda since day one.<br /><br />In 2009 he warned attendees of a town hall event that the Obama administration was planning to use a pandemic or a natural disaster to implement martial law in the United States. <a href="http://www.thecomingdepressionblog.com/congressman-obama-only-upholds-the-soviet-constitution/"><i><b>Read more....</b></i></a> </div>
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The depressing spectacle of Barack Obama inaugurating a second term should not obscure this truth: Conservatives win on issues. They lose in elections because they don’t know how to frame the choices, even on those many issues on which the majority of the public is in their corner.<br /><br />Consider the most recent poll numbers. Gallup on abortion: “Would you consider yourself to be pro-choice or pro-life?” Answer: 50 to 41, pro-life.<br /><br />Gallup on whether government “is trying to do too many things that should be left to individuals and businesses” or instead “should do more to solve our country’s problems.” Answer: By 54-39, “is trying to do too many things.” And 51 percent think the federal government “has too much power” versus 40 percent “has about the right amount of power” — and only 8 percent thinks it “has too little power.”<br /><br />Impression of the National Rifle Association? Fox News, just last week: 56 percent favorable, 33 percent unfavorable. Will tough guns laws help stop incidents like the Newtown school shooting? Only 22 percent say yes, while 71 percent say “the people who commit these kinds of acts will always find the guns to commit violent acts.” And: “Which is more important: protecting the constitutional rights of citizens to own guns, or protecting citizens from gun violence?” Rights defeat protection, 51-40. And CNN, also last week, asked: Would “having stricter gun control laws… reduce the amount of violence in the country, or not?” Not: 61-39. <a href="http://www.thecomingdepressionblog.com/conservatives-underperform-our-issues/"><i><b>Read more....</b></i></a></div>
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Why does it seem like wherever there is human suffering, some giant bank is making money off of it? According to a new report from the World Development Movement, Goldman Sachs made about 400 million dollarsbetting on food prices last year. Overall, 2012 was quite a banner year for Goldman Sachs. As I reported in a previous article, revenues for Goldman increased by about 30 percent in 2012 and the price of Goldman stock has risen by more than 40 percent over the past 12 months. It is estimated that the average banker at Goldman brought in a pay and bonus package of approximately $396,500 for 2012. So without a doubt, Goldman Sachs is swimming in money right now. But what is the price for all of this “success”? Many claim that the rampant speculation on food prices by the big banks has dramatically increased the global price of food and has caused the suffering of hundreds of millions of poor families around the planet to become much worse. <br /><br />At this point, global food prices are more than twice as high as they were back in 2003. Approximately 2 billion people on the planet spend at least half of their incomes on food, and close to a billion people regularly do not have enough food to eat. Is it moral for Goldman Sachs and other big banks such as Barclays and Morgan Stanley to make hundreds of millions of dollars betting on the price of food if that is going to drive up global food prices and make it harder for poor families all over the world to feed themselves?<br /><br />This is another reason why the derivatives bubble is so bad for the world economy. Goldman Sachs and other big banks are treating the global food supply as if it was some kind of a casino game. This kind of reckless activity was greatly condemned by the World Development Movement report… <a href="http://www.thecomingdepressionblog.com/goldman-sachs-made-400-million-betting-on-food-prices-in-2012-while-hundreds-of-millions-starved/"><i><b>Read more...</b></i></a></div>
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Attn. Missouri Gun Owners: Please Report to the Principal’s Office<br /><br />Adding another chapter to the book of “How to Vilify American Gun Owners”, a new bill on the table of the Missouri State Senate would require parents to notify their child’s school if they own a firearm.<br /><br />Not reporting the acquisition of a new gun to your child’s school would become a criminal offense.<br /><br />State Senator Maria Chappelle-Nadal says that the bill she introduced will help to end school violence. “It encourages parents to make sure they store their guns safely in their home, it also gives the school districts the opportunity to help encourage gun safety in the community and in the household.”<br /><br />Chappelle-Nadal says that she “believes in the 2nd amendment” but hopes this will bring awareness to the need to “lock up guns.”<br /><br />This registration would be available to the police, of course, to “help them solve crimes.”<br /><br />Much like the publication of a map of legal gun owners in Westchester County, NY, it’s just another bullseye painted on the homes of gun owners. <a href="http://www.thecomingdepressionblog.com/new-missouri-law-would-force-parents-to-register-firearms-with-their-local-school/"><i><b>Read more...</b></i></a></div>
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As the U.S. government continues to expand surveillance and monitoring systems to the tune of hundreds of billions of dollars within the borders of the United States, a recent announcement regarding the country’s southern air defense systems is raising eyebrows.<br /><br />Our southern border is, in part, protected by the Tethered Aerostat Radar System (TARS), which utilizes moored balloons hovering at about 15,000 feet to identify low flying aircraft and missiles that may penetrate the border and cross into U.S. airspace.<br /><br />The system is utilized by the U.S. Air Force, North American Aerospace Defense Command (NORAD), and U.S. Customs and Border Protection for a number of missions including detection of drug smuggling and preservation of the air sovereignty of the continental United States.<br /><br />According to Exelis Systems Corporation, the company that built and jointly maintains TARS with the U.S. Air Force, the government has ordered a complete shutdown of Aerostat flight operations:<br /><br />The government also indicated its intent that aerostat flight operations will cease on March 15, 2013, and that the remainder of the fiscal year will be used to deflate aerostats, disposition equipment, and prepare sites for permanent closure. We are currently reviewing all the details of the RfP and evaluating the possible impacts on the program and our workforce. We continue to communicate with the government on this matter, and we will have more information in the coming days and weeks. <a href="http://www.thecomingdepressionblog.com/obama-to-shut-down-southern-air-defense-systems-it-will-be-open-season-for-terrorists-flying-in-with-nukes-low-altitude-missiles-or-even-full-scale-invasion-of-america/"><i><b>Read more....</b></i></a></div>
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Had the following comments been made on a fringe corner of the internet most would dismiss them as outright conjecture. However, what you are about to read comes from one of the world’s foremost philanthropists, Jim Garrow, who has spent tens of millions of dollars of his own money to help over 35,000 Chinese baby girls from near certain death under China’s one-child-per-couple policy.<br /><br />He was one of the 206 nominees for the 2009 Nobel Peace Prize, which was ultimately awarded to President Barack Obama.<br /><br />Garrow, who has friends in high places, including the U.S. military, made a startling claim on his Facebook page Sunday, which if true, should leave no doubt about why the Obama administration is moving full force to seize firearms from law abiding Americans and why the US government’s law enforcement and security assets have been making preparations for years in anticipation of social breakdown and widespread civil unrest.<br /><br />According to Garrow, the Obama administration has been rapidly retiring or re-assigning US military leaders based on a new ‘litmus test’ of their loyalty:<br /><br />I have just been informed by a former senior military leader that Obama is using a new “litmus test” in determining who will stay and who must go in his military leaders. Get ready to explode folks.<br /><br />“The new litmus test of leadership in the military is if they will fire on US citizens or not”. <a href="http://www.thecomingdepressionblog.com/shock-claim-the-new-litmus-test-of-leadership-in-the-military-is-if-they-will-fire-on-us-citizens-or-not/"><i><b>Read more....</b></i></a></div>
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What in the world is China up to? Over the past several years, the Chinese government and large Chinese corporations (which are often at least partially owned by the government) have been systematically buying up businesses, homes, farmland, real estate, infrastructure and natural resources all over America. In some cases, China appears to be attempting to purchase entire communities in one fell swoop. So why is this happening? Is this some form of “economic colonization” that is taking place? Some have speculated that China may be intending to establish “special economic zones” inside the United States modeled after the very successful Chinese city of Shenzhen. Back in the 1970s, Shenzhen was just a very small fishing village, but now it is a sprawling metropolis of over 14 million people. <br /><br />Initially, these “special economic zones” were only established within China, but now the Chinese government has been buying huge tracts of land in foreign countries such as Nigeria and establishing special economic zones in those nations. So could such a thing actually happen in America? Well, according to Dr. Jerome Corsi, a plan being pushed by the Chinese Central Bank would set up “development zones” in the United States that would allow China to “establish Chinese-owned businesses and bring in its citizens to the U.S. to work.” Under the plan, some of the $1.17 trillion that the U.S. owes China would be converted from debt to “equity”. As a result, “China would own U.S. businesses, U.S. infrastructure and U.S. high-value land, all with a U.S. government guarantee against loss.” Does all of this sound far-fetched? Well, it isn’t. In fact, the economic colonization of America is already far more advanced than most Americans would dare to imagine.<br /><br />So how in the world did we get to this point? A few decades ago, the United States was the unchallenged economic powerhouse of the world and China was essentially a third world country. <a href="http://www.thecomingdepressionblog.com/does-china-plan-to-establish-china-cities-and-special-economic-zones-all-over-america/"><i><b>Read more...</b></i></a></div>
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The Founding Fathers agree: an armed population makes good government. Numerous quotes from the revolutionary era make their intent extremely clear — that individuals were meant to keep and bear arms for the protection of the country and the defense of its Constitution and Bill of Rights.<br /><br />The 2nd Amendment is in place to discourage dictators and protect the Bill of Rights and Constitution.<br />
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The Preamble to the Bill of Rights explicitly states that these amendments to the Constitution were put in place to restrain the federal government and discourage abuse. Ratified Dec. 15, 1791, it reads:<br /><br />“THE Conventions of a number of the States, having at the time of their adopting the Constitution, expressed a desire, in order to prevent misconstruction or abuse of its powers, that further declaratory and restrictive clauses should be added: And as extending the ground of public confidence in the Government, will best ensure the beneficent ends of its institution.“<br /><br />Meanwhile, history has shown that disarmed populations and dictators always go hand in hand, with abusers and seekers of power preferring a people unable to stand up for their rights and easy to trample and dominate.<br />
<br />Our birthright as Americans is at stake: if we don’t stand up to defend the 2nd Amendment, we stand to let all our other precious rights slip away, from freedom of speech on down. <a href="http://www.thecomingdepressionblog.com/founding-fathers-battle-gun-grabbers-from-the-grave/"><i><b>Read more....</b></i></a> </div>
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