Power of Story Send a Tweet        
- Advertisement -

Share on Google Plus Share on Twitter Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 11 (12 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   6 comments
OpEdNews Op Eds

America Facing Depression and Bankruptcy

By       Message Stephen Lendman       (Page 3 of 9 pages) Become a premium member to see this article and all articles as one long page.     Permalink

Related Topic(s): ; ; ; ; , Add Tags  Add to My Group(s)

Must Read 6   Well Said 5   Valuable 5  
View Ratings | Rate It

opednews.com Headlined to H4 8/27/10

Author 194
Become a Fan
  (191 fans)
- Advertisement -

-- for over a year into a supposed recovery, the Fed still contemplates new ways to stimulate growth, its tool, of course, printing money (funny money, or as one analyst calls it, "toilet paper") and quantitative easing, compounding the deficit, or the equivalent of throwing fuel on a fire instead of monetary and fiscal sanity plus sound economy policies to extinguish it;


-- after two years of record trillion dollar plus deficits to kick-start the economy, interest rates are shockingly low, flashing weakness, not strength; to wit, on August 24, the 5-year note was 1.36%, 7-year at $1.95%, 10-year at 2.50%, and 30 year at 3.57%; as well as 30-year fixed mortgage rates at record lows below 4.5% (4.42% on August 24), despite "no fewer than eight (government) programs to put a floor under the housing market;" we're in big trouble "when (Washington) can expend so many resources (on) one sector" in vain;


- Advertisement -

-- the FDIC keeps shuttering more banks; again, the carnage keeps spreading, yet most economists cling tenaciously an economic recovery theme, at most hit by a soft patch; Rosenberg's response - "Some recovery (when) the private credit market is basically defunct....what replaced it was rampant government intervention (buying time) by trying to (put) a floor under the economy;" once it stops, and it will, they'll be no hiding the dire truth, and no end of pain for growing millions.


The Worst Is Yet to Come

- Advertisement -


Financial expert and investor safety advocate Martin Weiss began warning about a major economic decline long before it began and keeps at it, citing evidence most analysts downplay or ignore, including:


-- America's worst ever housing depression showing no signs of abating; since January 2006, housing starts alone have plunged from 2.3 million annually to a recent 477,000 low that may not yet reflect a bottom because demand is so weak for this bellwether industry;


-- record long-term unemployment, its worst since first officially tabulated over 60 years ago; and

- Advertisement -


-- "the most chronic credit squeeze ever recorded....suffer(ing) its deepest plunge since WW II."


Next Page  1  |  2  |  3  |  4  |  5  |  6  |  7  |  8  |  9

 

- Advertisement -

Must Read 6   Well Said 5   Valuable 5  
View Ratings | Rate It

opednews.com

I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert