More dramatically, even on the Keynesian side, dissent rages: Stiglitz said that Obama's Wall Street ties had doomed the bank's rescue; and Roubini declared that the spin machine about the banks' stress test has become latest 'fudged' experiment invented by the wizards of finance, which now clash with each other over how to disclose results. You see, this new game has gotten some geniuses concerned at the potential damage to weaker institutions. The word 'reform' is a term meaning 'cover-up' for old regulations firing back and exposing their conflicts of interests? They just cannot hide anymore. The whole situation takes another surreal turn as San Francisco Federal Reserve President Janet Yellen said policymakers need to pop bubbles... does she mean that it is time to pop the world's mega bubbles? Are we going to allow the enablers go away with... murder? Thanks to Max Keiser, a famous European market analyst versed in hard currencies, for reminding us that throughout history, bankers responsible for the impoverishment of the community got the harshest penalty possible: DECAPITATION.
Even Soros, the closet Bilderberger, admitted that Americans have been 'Living in a Fool's Paradise' that's gone forever and blamed Obama for having missed the great opportunity to fix the banks. Talking of banks, this could well be the beginning of a trend as the term 'bonus' is sparking rages among the populace: Bloomberg online was the first to mention that Bank of America may increase salaries by 70% for its investment bankers. They are about to fool us again!
Mike Whitney, an extremely prolific financial journalist agrees that the Economic Meltdown 2009 is worse than the Great Depression. The situation is so dire that last month the FDIC warned it was running out of rescue funds and that it could go broke this year as bank failures mount - claiming that was due to the failure to collect insurance premiums from most of the banks over the last 10 years. Let's see: does it mean that even when times were booming the $harks couldn't care less about the (our) future? When one is aware that 99.9% of the money supply consists of debt to private banks, it is truly about time to look for an exit. Adding leverage won't glue the house of cards: all we can do is trying to stay out of debt and reduce expenses. And, this is what will spontaneously happen down the road when consumers enter the Great Squeeze - everything will grind to a halt. Dissent is brewing: some well respected but misguided Keynesians have stepped ahead and blasted Tim Geithner's economic plan as ' extremely dangerous'.
Stormy horizon in sight. The United States will experience a painful readjustment since 50% of Americans are in a collective state of financial depression CBSmarketwatch contended:
A large number of households say that even one missed paycheck would spell financial ruin. And even in households that remain well off, the surveys show a festering fear that financial problems are lurking. "This is flashing so bright red," said Paul Ballew, senior vice president of Nationwide Insurance Co. "Roughly 60% of the population was ill-prepared (financially) before the meltdown." ... More disturbing is that 28% said they could not make ends meet for longer than two weeks without their jobs. (03/20/09)
After having read all this, what would you say if you heard that the real Jobless U.S Rate turned out being 19.8%? Would you believe this double digit to be accurate? Please click on the link if you have any doubt.
Toward A Global (Civil) War And Food Shortages Does the Pope know something that we don't, when warning of 'a desert of godlessness' in Good Friday address?
"We witnessed the collapse of the financial system," Soros said at a Columbia University dinner. "It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom." ... "I don't remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world," Volcker said (Reuters - 02/21/09)
Four weeks after the FDIC warning, the G20 met to discuss a big increase in IMF fund (more or less $1TN) after admitting that it would no longer be able to help the world anymore. Alas we can already assume where the money will be coming from: the so-called rich taxpayers from the West. However, after a quick check, this appears unrealistic. The downturn has sparked unrest across Europe. What is coming is very serious, so serious that it will be remembered as a 'double-whammy' of the worst economic crisis in living memory, the express.uk. declared as it revealed top contingency plans to address possible civil disorder and riots. Not only are the IMF' safes empty, it also asserts that world economy is getting so unpredictable that it could lead to war. So what does this mean: that taxpayers have put their trust into an entity which is completely failing its purposes? Furthermore how to trust, again, our monetary scientists at the International Bank Of Settlements - BIS - who didn't see the global collapse coming but are planning to implement a global currency, a project that can only be made possible if all currencies have failed in the first place? The global economic crisis isn't about money - it's about power. And in order to take over the world, an unprecedented event needs to be create so masses would endorse the Big Brother. It's undoubtledly a collapse by design, there is no doubt about it. Most appalling is that the powers-that-be have become able to predict the irrational manner in which consumers will make economic decisions.
Outrageously, when currencies are destroyed food shortages are nightmares coming true. Last November, the Food and Agriculture Organization predicted that the downturn could trigger a new wave of food riots across the developing world. What the organization didn't say is that they already had broken out in about 20 poor countries due to the biofuel craze which made the price of wheat triple, corn double, and that of rice almost double. Talk of throwing oil onto the fire! If the Greens are really serious about helping humanity, it's about time for them to consider other alternatives than policies encouraging murder under the guise of decreasing the reliance on oil:
Even worse is the bioethanol craze. Politicians in both the United States and the European Union are mandating that vast quantities of food be turned into fuel as they chase the chimera of 'energy independence'. ... The result of these mandates is that about 100 million tons of grain will be transformed this year into fuel, drawing down global grain stocks to their lowest levels in decades. Keep in mind that 100 million tons of grain is enough to feed nearly 450 million people for a year.... ( more)
Although Americans fell asleep at the wheel, they are slowly coming back to their senses, realizing that Wall Street speculations were not under the scrutiny of watchdogs but Madoff-like people. Gerald Celente, a prominent forecaster, believes that a violent Revolution will start soon. He rightfully argues that Americans are not going to accept seeing their taxes raised as they are losing their jobs, homes and retirement savings as they unwittingly fund the merger of state and corprations - which is called fascism.
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