"Today, the world economy was hit the hardest it has been hit since 9/11.
ML King day prevented US markets from responding, except with electronic futures trading.
Tomorrow, many signs portend a very, very, VERY bad day.
There's no primary news that's nearly as important. "
I would add that this may be one of the biggest threats to America...and to you and your loved ones.
Will we face melt down... how severe...how long....and WHY?
The last needs to be addressed first - the expanding economic crisis is NOT primarily due to the sub-prime mortgage market problems!
Yet the sub prime mortgages will be blamed. That is bullsh*t .. or rather a few small droppings from the bull. The underlying problem is the mismanagement of our economy and financial markets. From massive derivatives and funny money market/financial games to the especially messy "loads" from the massive printing of paper dollars, we are being drowned in debt that we can't pay back...except by "buying" time with more paper dollar printing..We're papering the world with something that has no real intrinsic value in itself.. They are pieces of paper with nothing behind them but "faith" in US finances and economy.
In a way it is somewhat akin to having "faith" in our present electronic voting systems and secret corporate programming and frequent corporate take over of the running of OUR election process with the resulting frequent inability to prove reported counts to actual source ballots completed directly by the voter. There is no there, there! So too are many of the Administration and Market wheelings and dealings.... seeking to make trillions from nothing or the wrong thing and no real assets or too few to always back up.
Many believe the beginnings of this crisis actually goes back to 1973, though it was slow to develop until Bush Junior was selected President.
The games allowed on Wall Street and with Central banks are unbelievable. As Fed Chairman (by the way the Federal Reserve is NOT a US agency but owned by stockholders ... the banks, with main control/power vested in NY ) Bernarke said...he has a secret weapon.......a printing press!
Well, it's no secret to those in high places in the world and those who study/read, that the Fed and the Administration not only has that weapon ... but that it has become a Weapon of Mass Destruction of our dollar and corresponding confidence in the United States economy as well as policies.. We have been printing "paper" dollars at an obscene rate.
Last February, the Bush Administration ordered the stopping of issuance of the M3 report. Basically M3 is about liquidity, how much new paper money is put into the economic system. The Administration claimed they were stopping the report as a cost savings. Now when did you ever find them interested in saving money, unless it was to take away from the less fortunate?
Well the less fortunate in this case is YOU and ME and OUR Country.. Top experts have calculated M3. Their reports range from about 15.7 percent to 19 percent a year.
Think about that ...15.7 to 19 percent more paper dollars are being put into our economy... and increasing! Yet when it comes to inflation, phony or "doctored" figures go out. They simply change the basket of goods on which it inflation is calculated. This staves off fear of inflation, yet hides truth that super inflation exists. This also "steals" from seniors and those who depend on cost of living to calculate any increase due them and hurts all of us. Did you get a 16-19 percent raise last year? If not, your purchasing power has gone done proportionately..
A dollar in your own pocket is going down in value as the numbers increase in circulation. There is more paper chasing same amount of goods. You know from checking your grocery bill, energy etc. Now think of this as having gone on the last several years, with each year excess printing having a multiplier effect.
Simply put, Inflation is due to too many paper dollars chasing fixed amount of goods!
And the U.S. has printed far too many dollars. Iraq alone has caused extra running of that printing press though by now I bet the printing press Dr. Bernarke spoke of has multiplied to many presses running full out. Besides greed and reach for power, this problem is worsened by a political axiom.....avoid recession or you lose elections ... so instead the choice becomes accept inflation rather than deal with a recession...Inflate or die (lose power)!
Add to that, the brokerage houses and other financial institutions having had a field day with derivatives. and yes also the easy money ways to buy homes or buy on credit thus keeping the USA the supermarket shoppers of world goods (less and less US made goods).. The Treasury Dept, Fed and key Brokers Plunge Protection Team has done a great job of "keeping" the stock markets up, stepping in when drops occur and making Americans "feel good" about their IRAs and investments while the actual interventions have kept markets from performing naturally
The game playing in the financial markets and economy is going to be almost impossible to turn around for we are in so deep though I believe the powers that be will pull a few more tricks out of their back pockets along with a bogeyman or two (Iran , terrorists etc to scare America) and we may have more time to personally prepare for our own families and community...and Nation. There are difficulties ahead. IMO many of our present group of "leaders", both sides, lack the ability needed to get us out of the crisis.
If enough Americans start demanding and getting involved in improving our Country, even going to the streets, to rallies... demanding facts and truth from OUR government and from the media which has been all too quiet on truth, not always doing the real job of the fourth estate...which is getting good and correct information to citizens...not soundbites and cable "talk"... but doing real hard questioning and investigation. Then perhaps we can forge a partnership between We the People and our elected representatives (and all government as well as industry , educational institutions etc) and find our way through the very possible dark days ahead, whether it be this year or in the next two years Payback time is near..
Remember that this great Nation grew based on building real assets, actual goods and invention not just service.or paper printed money or corporate and banking control. It grew on initiative, creativity, courage not fear, opportunity for individuals to develop their abilities, good education and community....primarily Americans grew together with a belief that we could overcome any obstacle and guided by the great Vision of what this Country could be for each of us and all of us including helping of those who needed legitimate support. We have the ability to ignite these forces again.
Thomas Jefferson wrote "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation,the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."
The first has occurred now the question is whether we will get the predicted result..
We can weather this though it will be rough and stormy. More in my next article including how to prepare for hard days coming over the next few years. With luck we may have some extra time. With prayer plus a wake up of the American people to action, we might find the Leaders and together the ways to clean up the "mess".and work together to rebuild, revitalize America ... and I mean the United States of America and NOT the North American Union as our Country!
Mary Ann Gould is Co-founder of the Coalition for Voting Integrity and host of "Voice of the Voters!" Radio and Internet voiceofthevoters dot org. She is an active voting rights advocate. Mary Ann's initial study and work was in finance and economics. She also at age 30 started an Electronics manufacturing company which grew substantially and served on many Boards plus received major awards for contributions to Economic development, Delaware Valley Executive of the Year, "Distinguished Pennsylvanian". Mary Ann became interested in Quality and Change Management and was fortunate to become an associate of the late Dr. W. Edwards Deming, world renowned for his innovative management principles. She also developed a successful management consulting career and created many processes used to build organizations, create and manage change and develop leadership and teamwork based on overarching Vision and integrated actions.Her work is referced in several books as well as many news and magazine articles and has been a speaker on at major Universities and conferences..
Co-Founder of the Coalition for Voting Integrity. Host of "Voice of the Voters! Radio & Internet. Nationally recognized expert in Quality, Process improvement and Change Management. Associate of the late Dr. W, Edwards Deming. Speaker/seminars at (more...