The Federal Reserve is Engineering the Economic Collapse
To most Americans, the Federal Reserve is just another name on their dollar bill. They don’t know that this secretive private bank controls America’s entire economic system. The Federal Reserve is no more federal than Federal Express. Created with no constitutional authority in 1913, the Fed prints money out of thin air and loans it to the U.S. treasury at interest. This can only lead to one outcome: debt. Currently, the Federal Reserve is printing billions of dollars to bail out Wall Street while destroying the middle class and the dollar. If our country wants a sound and transparent monetary system, we need to phase out the Federal Reserve system giving power back to the U.S. treasury.
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What is the difference between a credit crisis and a crisis of debt / or liquidity?
I think the term "credit crisis" refers to to the relative unavailability of new credit for individuals and businesses.
A "crisis of debt" refers to individuals and businesses carrying unsustainable debt loads (at some point they won’t be able to pay it back).
A "liquidity crisis" refers to the unavailability of cash for businesses (to pay debts among other things) and for banks (to lend money.
So a crisis of debt can lead to a "liquidity crisis" which in turn can lead to a "credit crisis".
Will history repeat itself with this global financial crisis?
An expert, who studies global financial crisis says that the world if doomed to repeat the same financial mistakes that were made, that lead to World War 1 and 2. He says, that is our global leaders continue to make the same idiotic mistakes, and the people continue to panic, then we open ourselves up to the possibility of World War 3. He says, that if you study the history surrounding the two World Wars, you’ll see that the financial disasters prior to those wars, are happening now!
The post-crisis world will be radically new. Nevertheless, the United States has accumulated such great scientific and technological potential, and such an exceptional industrial base, that it will remain the world leader – the largest economy in the world. Even though it will fall more than any other country, when it comes to the numbers, people will still have enough to live (compared to others).
Everything will crash, with the exception of the American high-tech industry. The United States will begin real production; it will return to it from abroad, from China. This will cause foreign countries and China to “fall.”
All of the previous crises were different – understandable and not general. However, this one is global; it is happening all over the world and it is unlike any previous crisis. There are no known remedies to eliminate it. People are trying to do the same thing they did in previous crises – to help the banks, but nothing will help.
The situation will force them to reveal the true cause of the crisis: that the egoistic attitudes of the involved parts of a closed system, bring about the system’s destruction. (just like cancer in a body)
How is the debt crisis and poverty linked?
The more money and better credit that a person has the better interest rates they get. Poor people get stuck with the very high interest rates and when something happens, like the car needs repairs, it goes on credit that they can’t afford in the first place. This spirals out of control and soon they default on loans and can’t pay off credit cards. The poor become even more poor. When so many default, the banks raise interest rates and make it more difficult for all to get loans. Less is spent in communities, people lose jobs and so on. This doen’t just happen to poverty level people-people are living far beond their means living on credit, tading in an average house for one much larger with a price tag that they will never be able to pay off.
Is the Republican philosophy of deregulation and tax cutting what caused the economic collapse?
The last 8 years we gave massive tax cuts to the wealthy and deregulated the financial industry causing an economic bubble in the stock market, commodities, housing, etc. Doesn’t it make sense to bring back tax rates to pre-Reagan era and keep regulations in place so that growth is moderate and stable??
And yes, I blame Clinton for a lot of things too….but doesn’t mean you Republicans and your tax cutting/deregulation philosophy get a free pass.
The banks weren’t forced to give out sub-prime loans, they were handing them out like candy! Come on Republicans, don’t try to distort the situation here. The reality is that if the loaning institutions were forced to give out loans to qualified applicants, we wouldn’t be in this mess.. This is an example of where REGULATIONS are GOOD.
I think a lot of people are to blame. However, Clinton left the U.S. in a surplus. republicans, you can look it up if you don’t believe me. Bush drove our national debt to record high with trillions of dollars in debt with China and 10 billion/month to pay for war in Iraq. I do blame republicans more than democrats, and I’m republican but I had to vote for Obama. The tax cuts did not help the economy whatsoever. My republicans blame it on the media even though statistics show the facts.
Greece’s debt Crisis