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Posts tagged "depression"

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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http://www.campaignforliberty.com/

Duration : 0:7:12

Who/what caused the economic collapse of 2008?

What were the top 4 causes of the economic collapse in your opinion/supported by facts?

The truth is that the U.S. has not been sustaining the economy for decades.

While it began with the Great Depression, it was cemented to occur with recovery efforts, and treaties involving the World Wars.

Social Security/Medicare/Welfare were an unsustainable burden

Regan opened the way to outsourcing jobs/businesses to where there was cheap labor

Prior recoveries from recessions were temporary fixes, for example Clinton signed a treated to borrow from the World and Hemispheric Bank for development of the hemisphere. Smarter than Obama, the majority of funds had to go to the lower end of the chain, to mini and micro businesses. The same funds went into the Tech bubble.

Then the Housing Boom – prices were artificially inflated and "equity" taken out and put into the economy.

In short, the collapse actually happened decades ago, but was artificially delayed.

In current times, the biggest single cause was the New World Order and Free Trade Agreement, which made the U.S. unable to compete and economically unfeasible on a global basis.

$78.8 Trillion; United States Debt Obligations exceed world GDP; Monetary Collapse Looming?

How in the world are we going to pay off all of this debt? Raising taxes to do it would burden our economy, and then the situation would only get worse. To me the solution is obvious, cut spending.

For too long in this country we’ve had the give-me-stuff people standing there with their hand out, and the government putting something in it. Does the idea of small government ring a bell? It is what our founding Fathers had in mind when they gave us our constitution. That is why there is a list in the constitution that quite clearly spells out the powers of the federal government, and also what it is not allowed to do. So basically if it was not listed as a power, then they are to stay away from it, and allow the States to handle it.

Just take a look at federal laws. At the very beginning they will state their authority in enacting the law, and it is almost always the commerce clause. I’m sure they even think that just because your computer is hooked up to the internet, and therefore has contact with other computers in other States, that they then would have the constitutional right of regulating your computer, and thereby your internet communications; they are out of control.
jbranstetter04

Federal obligations exceed world GDP
Does $65.5 trillion terrify anyone yet?

As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.
The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.
The real 2008 federal budget deficit was $5.1 trillion, not the $455 billion previously reported by the Congressional Budget Office, according to the “2008 Financial Report of the United States Government” as released by the U.S. Department of Treasury.
The difference between the $455 billion “official” budget deficit numbers and the $5.1 trillion budget deficit cited by “2008 Financial Report of the United States Government” is that the official budget deficit is calculated on a cash basis, where all tax receipts, including Social Security tax receipts, are used to pay government liabilities as they occur.
But the numbers in the 2008 report are calculated on a GAAP basis (“Generally Accepted Accounting
Practices”) that include year-for-year changes in the net present value of unfunded liabilities in social insurance programs such as Social Security and Medicare.
Under cash accounting, the government makes no provision for future Social Security and Medicare benefits in the year in which those benefits accrue.
“As bad as 2008 was, the $455 billion budget deficit on a cash basis and the $5.1 trillion federal budget deficit on a GAAP accounting basis does not reflect any significant money [from] the financial bailout or Troubled Asset Relief Program, or TARP, which was approved after the close of the fiscal year,” economist John Williams, who publishes the Internet website Shadow Government Statistics, told WND.
“The Congressional Budget Office estimated the fiscal year 2009 budget deficit as being $1.2 trillion on a cash basis and that was before taking into consideration the full costs of the war in Iraq and Afghanistan, before the cost of the Obama nearly $800 billion economic stimulus plan, or the cost of the second $350 billion in TARP funds, as well as all current bailouts being contemplated by the U.S. Treasury and Federal Reserve,” he said.
“The federal government’s deficit is hemorrhaging at a pace which threatens the viability of the financial system,” Williams added. “The popularly reported 2009 [deficit] will clearly exceed $2 trillion on a cash basis and that full amount has to be funded by Treasury borrowing.
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88851

Duration : 0:1:41

Ron Paul on the Global Financial Crisis

Ron Paul discusses the collapsing financial markets. “We’re in the middle of something very big and it doesn’t look like it’s going to end soon.”

http://digg.com/business_finance/Ron_Paul_on_the_Global_Financial_Crisis_9_18_08_2

http://digg.com/business_finance/Ron_Paul_Addresses_Financial_Crisis

http://house.gov/paul

http://campaignforliberty.com

http://ronpaulnews.net/

Duration : 0:7:17

The Federal Reserve is Engineering the Economic Collapse

Audio deleted because of a Dark Knight copyright claim.
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 when most politicians were on vacation 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.