Source – revealnews.org – “…Decades ago, the federal government relinquished direct control of the student loan program, opening its bank to corporations concerned with profits, not diplomas. Private equity companies and Wall Street banks seized on the flow of federal loan dollars by peddling loans that students sometimes could not afford and then collecting fees…
Source – hendersonlefthook.wordpress.com – “…Dick Cheney was now Halliburton Chairman and CEO. Cheney now struck a more business-like tone, cutting oil deals with Saddam Hussein. According to the Financial Times, from 1998-2000 Halliburton did nearly $24 million in business selling oil drilling equipment and services to Iraq. Cheney & Company circumvented the US embargo by…
Source – phoenixcapitalresearch.com – “…In the history of the stock market, it has only traded at a richer valuation during one period – June 1997 to September 2001 – as the dotcom farce blew and burst”: Are Central Banks Getting Ready to Crash the System Again? While investors pile into Tech Stocks based on endless…
Source – commondreams.org – “…In 2016 alone, the richest 1% effectively shifted nearly $4 trillion in wealth away from the rest of the nation to themselves, with nearly half of the wealth transfer ($1.94 trillion) coming from the nation’s poorest 90%—the middle and lower classes. That’s over $17,000 in housing and savings per lower-to-middle-class household lost to the super-rich”: Now Just Five Men Own…
Source – alt-market.com – “…This farce in stocks could not succeed for so many years without help. I would say the real “shoe shine boys” of our era are actually the dullards in the mainstream financial media, stabbing in the dark and desperate to believe that the astonishing “recovery” since 2009 is real”: Peak Economic…
Source – economicprism.com – “…The problem, of course, is that U.S. consumer debt has gone parabolic since early 2009. Student loans, auto loans, and credit card debt has all recklessly piled up to dizzying heights. In reality, U.S. consumers have borrowed much more – nearly $13 trillion – than they can ever pay back”: Meet…
Source – yvesengler.com – “…Auto interests have pocketed stupendous profits over the past century they’ve also pushed to socialize huge amounts of urban land…simply put, cars need roads and the state must pay for them; otherwise most of us would still be riding public transit because an unsubsidized private automobile would be too expensive and…
Source – cluborlov.blogspot.ca – “…The Earth is a petri dish populated with various strains of collapse—or a collapse soup, if you will. It is an open-air collapse laboratory running many uncontrolled collapse-related experiments at the same time”: Collapse Mitigation Strategies – By Dimitri Orlov Almost a decade ago I wrote an article in which I…
Source – charleshughsmith.blogspot.ca – “…The debt-asset bubble supernova consumes all the available fuel and implodes. I’ve employed the supernova analogy for many years, as it captures the expansion of debt and asset valuations and the resulting collapse once all the fuel in the system (i.e. earnings and real collateral) has been consumed”: Will the Crazy Global…
Source – oftwominds.com – “…Building bridges to nowhere and creating money from thin air to buy stocks and bonds only appears sustainable because the risks and imbalances are piling up out of sight. Eventually the “perfect balance” between deflation and inflation tips one way or the other, and a systemic crisis “nobody saw coming” unfolds”:…
Source – sprottmoney.com – “…The Top 0.1% create our “bubbles”, and they create our “crashes”, and they do so solely for their own, personal profit – heedless of the millions of lives which they damage and destroy with each of their cycles-of-crime. We already had proof that they created the bubbles. Their #1 henchman, B.S.…
Source – counterpunch.org – The West Is Traveling The Road To Economic Ruin – By Paul Craig Roberts: Michael Hudson is the best economist in the world. Indeed, I could almost say that he is the only economist in the world. Almost all of the rest are neoliberals, who are not economists but shills for…
Source – theeconomiccollapseblog.com – “…The hard fact is that the past decade’s $10 trillion in deficit spending has produced the worst economic growth as measured by Gross Domestic Product in our nation’s history. You read that right, in the past decade our nation’s economy grew slower than even during the Great Depression”: Over The Last…
Source – phoenixcapitalmarketing.com – “…Our view is that the auto-loan industry is Subprime 2.0: the riskiest, worst area in a massive debt bubble, much as subprime mortgage lending was the riskiest worst part of the housing bubble.In both instances, these lending industries were rife with fraud, terrible due diligence, and the like. So when the…
Source – cluborlov.blogspot.ca – “…Thus, the phenomenon that has allowed per capita energy use to set some modest new records has produced an Olduvai plateau, which will be followed by an even steeper Olduvai cliff once this scheme, essentially one of attempting to borrow against the collateral of a nonexistent future, eventually fails. This moment…
Source – oftwominds.com – “…There’s no Plan B for a state-corporate form of central-planning capitalism that is no longer functioning. The only policies available are the “emergency” ones that are now permanent life-support systems of our failed global economies”: ‘State of Denial’, The Economy No Longer Works As It Did in the Past – By…
Source – oftwominds.com – ‘…We did not pay enough attention as capitalism hijacked globalization. Economic elites designed international institutions to serve their own interests and to create firmer links between themselves and governments. Ordinary people were left out”: Globalization & The Rural-Urban Divide – By Charles Hugh Smith The Neoliberal Corporate-State Order had all the…
Source – sentinelblog.com – “…At some point the western Central Banks will lose the ability to manipulate the gold and silver price and the Comex will default. That’s when chaos will break out in the physical gold and silver markets. That may be what it will take to trigger the collapse of the U.S. Ponzi…
Source – stuartjeannebramhall.com – “..One leading expert believes that 400 of the country’s 1,100 enclosed malls will fail in the upcoming years. Of those that remain, he predicts that about 250 — or 20% — will thrive and the rest will continue to struggle with shrinking traffic and sales volumes”: The Retail Apocalypse Arriveth –…
Source – geopolitics.co – “…The Deep State will continue, as they always have, to pursue their sinister agenda to start a nuclear exchange, while settling for the minimum atmosphere of conflict to generate more funds for the military industrial complex”: Deep State Plans to Nuke Russia & China to Deter BRICS-led Multipolarity We’ve already seen…
Source – sott.net – Citing a series of geopolitical, economic and social setbacks faced by the United States since the turn of the century, geopolitical analyst and Sao Paulo Business School Professor Antonio Gelis-Filho argues that global policy planners must prepare to deal with the “improbable, but by all means possible, Soviet-style collapse of the…
Source – trueactivist.com – “Governments Giving Fossil Fuel Companies $10 Million a Minute: IMF”: – News like this makes you wonder whether the people running this planet actually want it (or us) to survive at all. A recent paper released by the International Monetary Fund (IMF) should shock all of us who believe in a…
Source – govtslaves.info – There are currently 2.4 million people in American prisons. This number has grown by 500% in the past 30 years. While the United States has only 5% of the world’s population, it holds 25 percent of the world’s total prisoners. In 2012, one in every 108 adults was in prison or in jail, and one in 28 children in the U.S. had a…
Source – truthdig.com – California’s report said $440 million. New Jersey’s said $600 million. In Pennsylvania, the tally is $700 million. Those Wall Street fees paid by public workers’ pension systems have kicked off an intensifying debate over whether such expenses are necessary. Now, a report from an industry-friendly source says those huge levies represent…
Source – firstlook.org – Searching for the “best kept secret in outsourcing,” one that can “provide you with all the advantages” of domestic workers, but with “offshore prices”? Try prison labor! That’s the message of Unicor, also known as Federal Prison Industries, a government-owned corporation that employs federal workers for as little as 23 cents an…
Source – sprottmoney.com – The United States is bankrupt. Even officially; its debt-to-GDP ratio is well above 100%, the economic/financial point-of-no-return. Unofficially, its total debts-and-liabilities now exceed $200 trillion – ten times as much as this (relatively) puny economy can service, over even the medium term. The U.S. is not merely bankrupt; it is in…
Source -.tomdispatch.com – “If you’re graduating from a liberal arts college, you’ve been taken for a ride. Start getting used to it”: – It couldn’t be a sunnier, more beautiful day to exit your lives — or enter them — depending on how you care to look at it. After all, here you are four…
Source – theneweconomy.com – Large reserves of natural resources are not always the boon they appear to be; they can bring corruption and contraction if a country’s wider economy does not benefit An abundance of natural resources brings economic prosperity, particularly in developing countries where those raw materials often represent the single biggest contributor to…
Source – .tothetick.com – I have a neat little app on my smartphone that I like to look at when I’m feeling bored. It won’t change anything in my life, but it makes me think as I see the numbers clocking up, and then suddenly stopping for a few seconds. It’s the app that tells…
Source – darkpolitricks.com – “The central banks are indeed taking up these growing signs and are planning drastic restrictions on cash itself. They see moving to electronic money will first eliminate the underground economy, but secondly, they believe it will even prevent a banking crisis.This idea of eliminating cash was first floated as the normal…
Source – davidstockmanscontracorner.com – During the heyday of post-war prosperity between 1953 and 1971, real final sales—–a better measure of economic growth than GDP because it filters out inventory fluctuations—-grew at a 3.6% annual rate. That is exactly double the 1.8% CAGR recorded for 2000-2014. And after this morning’s punk GDP report in which growth stayed above the flat-line…
Source – davidstockmanscontracorner.com – “…Contra Corner website (http://davidstockmanscontracorner.com) is a daily must-read for anyone interested in the truth about our rigged economy” – David Stockman is our guest this week in the first of a two-part interview. He is also speaking at our Mises Circle event in Stamford, Connecticut, next week, along with Jim Grant…
Source – heraldscotland.com – The Vatican’s bank, the Institute for Works of Religion (the IOR), acquired a sulphurous reputation in the 1970s when its American head, Archbishop Paul Marcinkus, went into business first with Michele Sindona, a Cosa Nostra-linked financier who would end up convicted of bankruptcy and murder, and then Roberto Calvi, who would…
Source – zerohedge.com – This is simply stunning. Regular readers will recall that last month, at the same time as the US Bureau of Economic Analysis reported was a far better than expected 3.9% GDP (since revised to 5.0% on the back of the previously noted Obamacare spending surge), it also released its Personal Spending…
Source – wakeup-world.com – This past week, the world’s vultures – the economic power elite – met in Davos to discuss the maintenance of their global fiat hegemony. Highlights included furthering austerity measures, noting that the serf class can’t expect air conditioning and cars, as well as cheering on the death of privacy through the rise of technocracy.…
