Économie américaine: Rien ne va plus...
Voici, chers amis, une panoplie d'articles documentant la chute libre de l'économie américaine. Notez les articles qui documentent à quel point la bulle immobilière a éclaté et le nombre ahurissant de reprises de finance, le nombre de gens qui vivent dans la pauvreté alors que pour être considéré comme "riche" aux USA signifie avoir plus d'un milliard de dollars. Notez aussi que l'argent ne disparaît donc pas, il est massivement transféré de la classe moyenne vers la classe de 0.01% la plus riche. L'écart n'a jamais été aussi grand entre les pauvres et les riches, et entre les salaires moyens de la classe moyenne et de la classe de riche.
Pendant qu'ils ferment des écoles et que les rescapés de Katrina ne sont toujours pas retournés chez eux, l'armée et le secteur militaro-industriel reçoivent des sommes d'argent astronomiques.
Beaucoup de gens très connaissants dans le domaine financier et bancaire prévoient une dépression, un solide crash de l'économie US et possiblement mondial, avec la chute totale du dollard US.
Attachez votre ceinture, route cahoteuse en avant...
Dr. Kurt Richebacher
“The history of all hitherto society is the history of class struggles.”
WASHINGTON (MarketWatch) -- The
The federal government recorded a $1.3 trillion loss last year — far more than the official $248 billion deficit — when corporate-style accounting standards are used, a
The Inevitable Collapse of the Greenback
Why is George Bush destroying the dollar?
Or is it Bush? Maybe, it is the Federal Reserve, the privately owned group of 12 central banks that prints our money and sets the policy?
A UK Telegraph article on Tuesday “Dollar Drops as great Sell-Off Looms” explains the current dilemma. The dollar is falling against the euro and the Asian currencies while gold and energy prices continue to skyrocket. “Greenback liquidation comes amid growing concerns that global central banks and
Prepare to be shocked.
That is the conclusion of a recent Treasury/OMB report entitled Financial Report of the United States Government that was quietly slipped out on a Friday (
The chairman of the US Federal Reserve, Ben Bernanke, said that while he's worried about the high-risk end of the
Actually, the two are linked. The Fed started pouring out the cash to keep the government solvent, but used the ballooning real-estate market as a "cash sink" to sweep up that surplus cash after the government spent it all. But with the collapse of housing prices, that money is now floating around the economy, and too much money chasing too few goods and services is what drives prices upward in an inflationary spiral.
US headed for "fiscal crisis," Bernanke warns
50-year mortgage hits the market
This is a repeat of the S&L bailout of the 80s, which was one of the greatest swindles of the American people in history. Under Presidents Reagan and Bush I, the laws were changed that made it easy for S&Ls to invest in high-risk ventures. At the same time, Bush I increased the maximum limit for insured d=savings to $100,000 per account. That set the stage for a huge rip-off of the taxpayers and here is how it worked.
Drug criminals. in many cases working for the CIA's Iran-Contra operation, mixed their drug cash in with legitimate proceeds from cash-heavy front companies such as convenience stores, office supply places, and multi-screen cinemas. That cash was deposited in S&L accounts always under the $100,000 limit.
The criminals would then form a new front company, buy some really crappy real-estate and flip it to run the price up. This is what happened with Whitewater, Castle Grande, Flowerwood, etc.
Then, either with a cooperative appraiser or possibly a compromised officer of the targeted S&L, the front company would borrow out their money using the inflated land as collateral. That money, being the proceeds of a loan, would be tax-free and clean, ready to be spent anywhere in the world.
The front company would close, the loan would default, and the S&L found itself not only with the bad debt and no place to go to collect it, but a piece of land that was not worth anywhere near what was borrowed on it.
So, the S&L collapsed. President Bush came in telling stories about widows and orphans, never mentioning that the vast majority of the involved accounts were numbered and brokered,. and the taxpayers forked over the cash to make good on the S&L's bad debts.
And here is the punchline. Those drug criminals, the CIA Iran-Contra folks? They were still on the books for their original deposits, so even though they had already borrowed out their money using the land swindle, they were written a check for their original deposit all over again.
It was a heck of a scam. Minus taxes and commissions this scam could turn 10 million in drug money into 18 million in just 6 months with no risk, and all on the backs of the US Taxpayers. Those RTC officials who looked too closely at the books for the defaulted S&Ls had a habit of falling from very tall buildings.
So, here we go again, only the financial vehicle isn't S&Ls but mortgage lenders. But the game is the same. Invest some money, mortgage land for way more than it is worth through a front company, split with that money, then when the mortgage company collapses lobby for a "National Rescue Fund" which will pay out the same money a second time, and all on the backs of the US Taxpayers.
Fool me once...
Two scholars, one a Nobel Prize winner, revisit their estimate of the true cost of the
Many are now comparing us to the
After decades of upgrades to a fleet of notoriously cramped Sikorsky VH-3 Sea Kings, the White House has tasked Lockheed Martin with a dramatic, $6.1-billion makeover of Marine One, the presidential helicopter, starting this summer.I wonder how many schools could be built for that $6.1 BILLION.
“Those guys in the White House really have no shame. They want to collect the money allegedly owed to the government by the soldiers who served in
The percentage of poor Americans who are living in severe poverty has reached a 32-year high, millions of working Americans are falling closer to the poverty line and the gulf between the nation's "haves" and "have-nots" continues to widen.
About 1.9 million residents in economically struggling
The trend is being driven by massive downsizing in the state's auto industry and the disappearance of manufacturing jobs.
"Food stamps" has become a misnomer, now that the aid comes in the form of a debit card that's not easily recognizable at a checkout line. The use of food stamps increased from 614,000 people in 2000 to about 1.1 million in 2006, a jump state officials also attribute to a larger population and better promotion of the program.
A nine-figure fortune won't get you much mention these days, at least not on these pages. This year, for the first time, everyone in The Forbes 400 has at least $1 billion. The collective net worth of the nation's wealthiest climbed $120 billion, to $1.25 trillion.
NEW YORK, May 30 (Reuters) - Bayou Management LLC, the hedge fund group that failed last year after losing hundreds of millions of investor dollars in a massive fraud, filed for Chapter 11 bankruptcy protection in New York on Tuesday, according to court filings.
General Motors will on Monday disclose details of one of most dramatic corporate downsizings in
Rick Wagoner, chief executive, is expected to announce that about 30,000 workers – more than a quarter of GM's blue-collar
Mark Fields, the executive vice president in charge of the North American restructuring effort, said in January the company was looking to build a new low-cost assembly plant in
The document also indicated that Ford expects to increase its purchases of Mexican-made components by 300 percent, while suppliers could increase their investment by $3.6 billion.
Don't hold your breath on that low-cost assembly plant in
Artificial Economics, the brainchild of the Master Planners, has focused on building an economy where debt — not income — pays for goods and services. The emphasis upon debt instead of income via hyper-inflating the money supply in stealth fashion, has destroyed the dreams of millions of Americans. Artificial Economics is a silent economic disease. A coming significant devaluation of the dollar is a likely and necessary consequence.
Gas, and imported products (which are most of what you buy) are about to double in price by US Government fiat.
Back when this nation was founded, money had a fixed value, The coins were minted in precious metal that had intrinsic value. Such coins minted in silver and gold by
Paper notes were originally a convenience for people who did not wish to carry heavy sacks of coins around. But the paper note was not the money itself, and those
Things are different now. Paper notes are "Federal Reserve" notes and they are not tradeable for any silver or gold coinage at the banks or treasury. Indeed those notes are not even money; they are "instruments of debt". Each Federal Reserve Note represents a unit of debt borrowed from the privately-owned Federal Reserve Banks by the US Government on which interest must be paid. As this article illustrates, the US Government and the Federal Reserve can arbitrarily change the value of those notes at any time. Control of the worth of your money has passed from your hands to the government.And unlike Rome's money, when the US Government falls, the worth of those Federal Reserve Notes will vanish.
AFTER A brief rebound earlier this year, the U.S. dollar has resumed sliding against its major trading partners' currencies. America's persistent deficits, low saving and the shift of foreign reserves out of dollars and into euros seem to be driving the process.
So far, the decline has been more or less orderly. But if it were to gain speed, the consequences for the
Dollar plunges on Paulson appointment
Striking the US where it hurts
A noted Chinese theorist on modern warfare, Chang Mengxiong, compared China's form of fighting to "a Chinese boxer with a keen knowledge of vital body points who can bring an opponent to his knees with a minimum of movements". It is like key acupuncture points in ancient Chinese medicine. Puncture one vital point and the whole anatomy is affected. If America ever goes to war with China, say, over Taiwan, then America should be prepared for the following "acupuncture points" in its anatomy to be "punctured". Each of the vital points can bring
Around noon on Monday, September 17th, a
• Military Personnel $136 billion
• Operation & Maint. $249 billion
• Procurement $111 billion
• Research & Dev. $70 billion
• Construction $10 billion
• Family Housing $4 billion
• DoD misc. $6 billion
• Retired Pay $52 billion
• DoE nuclear weapons $17 billion
• NASA (50%) $9 billion
• International Security $10 billion
• Homeland Secur. (military) $31 billion
• Exec. Office of President $1 billion
• other military (non-DoD) $1 billion
• plus ... anticipated supplemental war spending requests of $20 billion in addition to $141 billion for Iraq and Afghanistan wars already incorporated into figures above
• Veterans’ Benefits $85 billion
• Interest on national debt $376 billion (80% est. to be created by military spending)
• Health/Human Services
• Soc. Sec. Administration
• Education Dept.
• Food/Nutrition programs
• Housing & Urban Dev.
• Labor Dept.
• other human resources.
• Interest on debt (20%)
• Treasury • Government personnel • Justice Dept.
• State Dept.
• Homeland Security (17%)
• International Affairs
• NASA (50%)
• other general govt.
• Homeland Security (17%)
• Energy (non-military)
• Environmental Protection
• Nat. Science Fdtn.
• Army Corps Engineers
• Fed. Comm. Commission
• other physical resources
Total Outlays (Federal Funds): $2,387 billion
MILITARY: 51% and $1,228 billion
NON-MILITARY: 49% and $1,159 billion