Send a Tweet
Most Popular Choices
Share on Facebook 7 Share on Twitter Printer Friendly Page More Sharing
Exclusive to OpEd News:
OpEdNews Op Eds    H2'ed 9/8/10

Our Long National Nightmare Isn't Over, It's Just Beginning

By       (Page 1 of 5 pages)   16 comments
Follow Me on Twitter     Message Richard Clark
Become a Fan
  (108 fans)

As Weiss Research financial analyst Mike Larson says in the latest Safe Money Report:

Despite all the siren songs by Washington politicians and Wall Street fat cats, the facts most Americans can see with their own eyes paint a very different, much darker, picture

  • The housing slump has returned with a vengeance ...
  • Unemployment is sky-high ...
  • Consumers -- 70% of the economy -- are slashing their spending ...
  • Despite the Fed's efforts to keep interest rates low, it's actually getting harder to borrow money!

Time after time, you have to wonder WHY there's such a glaring discrepancy between what you see with your own eyes and what everyone is telling you. And the answer is that Washington and Wall Street are lying through their teeth. The bald fact is that nearly everyone we trust to lead the economy or manage our money has serious conflicts of interest -- powerful incentives to make sure you do not know the truth:

  • Politicians and bureaucrats need you to believe they're saving the day or they could lose their jobs ...
  • Financial fat cats and CEOs need you to believe it's OK to buy their stocks again or their own shares in their companies will crash in value, and
  • Rating agencies like S&P, Moody's, and Fitch need you to believe their ratings are reliable or the companies they rate will stop paying them for their ratings, and the agencies themselves will go belly-up.

The fact is, these rating agencies gave the most notorious flops of this crisis their highest ratings, right up until the bitter end: AIG ... Bear Stearns ... Citigroup ... Fannie Mae ... Freddie Mac ... Lehman Brothers ... Wachovia ... Washington Mutual and others all were rated highly.

And because "the customer is always right" ... and their paying customers are the very companies they rate ... you can bet your bottom dollar that nearly all the other ratings they've issued -- especially for the biggest companies that still pay the biggest fees -- are also deeply conflicted.

The disturbing truth behind the hype and happy talk

If the economy is recovering ...WHY ARE BANKRUPTCIES EXPLODING?!

According to the American Bankruptcy Institute, the number of U.S. companies filing for bankruptcy each year has TRIPLED since 2006 and is setting new records this year. PLUS, the number of personal bankruptcy filings is soaring -- up as much as 35% per month so far in 2010!

No need to sugar coat the facts: The worst of this recession is NOT behind us, and the recovery is a sham -- a temporary respite bought and paid for by Washington. According to U.S. Government Accountability Office (GAO), the government's own watchdog agency, Washington has spent on the bailout a staggering $3.7 trillion so far. But now that bailout money is running out, and America's financial judgment day is near.

I'm talking about an economic catastrophe that will:

Next Page  1  |  2  |  3  |  4  |  5

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Supported 3   Must Read 2   Well Said 2  
Rate It | View Ratings

Richard Clark Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)

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.
Follow Me on Twitter     Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
   (Opens new browser window)

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

Was Pat Tillman Murdered by an American Sharpshooter to Shut Him up?

New JFK assassination bombshells

Two U.S. presidents implicated by ex-CIA black-ops assassin

The cholesterol - heart disease scam: How the medical-industrial complex is raking in billions at our expense

Four Ticking Time Bombs That Will Soon Ignite a Revolution

The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . . ?

To View Comments or Join the Conversation:

Tell A Friend