Archive for October 18th, 2011

EconomicCollapseBlog.com The entire financial system of the western world is designed to be a debt spiral. The total amount of money and and the total amount of debt are supposed to continually expand. Today, we are in debt up to our eyeballs and it seems like nearly everyone is talking about “deleveraging” and reducing... »

By Dr. Robert R. Owens PatriotPost.us The party’s over and it’s time to pay the bill. Our government has been on a spending binge for as long as I can remember. With Clinton and Newt’s slight-of-hand accounting back in the late 90s notwithstanding, which wouldn’t withstand the level of scrutiny we give a tab... »

British taxpayers may be dragged into a rescue package for the eurozone after a leading forecaster warned that the crisis has brought this country’s economy “grinding to a halt”. By Robert Winnett Telegraph.co.uk 17 Oct 2011 The Ernst & Young ITEM Club, which uses the Treasury’s forecasting models, warns today that the economic situation... »

Plans to increase the firepower of Europe’s bail-out machinery with extra leverage threaten France’s AAA rating and risk setting off a dangerous chain of events, a top German institute has warned. By Ambrose Evans-Pritchard Telegraph.co.uk 17 Oct 2011 Berlin’s DIW institute, one of Chancellor Angela Merkel’s five official advisers, said attempts to boost the... »

247WallSt.com Several large banks, with Deutsche Bank in the lead, are prepared to kill a bailout of Greece. Well-known DB chief Josef Ackermann says new plans to have banks take a greater burden of the aid package would cripple the industry just as it is needed most as a pillar of stability in the... »

Debt cannot be magicked away. Reducing it is bound to have consequences. By Roger Bootle Telegraph.co.uk In the case where the Government uses economic growth combined with fiscal restraint to eat away the debt gradually, those who bear the direct costs are just about all citizens, who pay higher taxes than they would have... »

By Maya Jackson MaarketWatch.com This year’s national tally of collapsed banks now at 80 Piedmont Community Bank in Gray, Ga., is the state’s 20th failure of the year Regulators also shuttered First State Bank of Cranford, N.J., the Garden State’s first bank failure this year Country Bank of Aledo, Ill., was that state’s eighth... »

Mapping America’s Shadowy Drone Wars by Tom Engelhardt and Nick Turse LewRockwell.com These last weeks, there have been two “occupations” in lower Manhattan, one of which has been getting almost all the coverage – that of the demonstrators camping out in Zuccotti Park. The other, in the shadows, has been hardly less massive, sustained,... »

by Walter E. Williams LewRockwell.com President Barack Obama and the Democratic Party have led increasingly successful efforts to pit Americans against one another through the politics of hate and envy. Attacking CEO salaries, the president – last year during his Midwest tour – said, “I do think at a certain point you’ve made enough... »

Americans With an Attitude by Bob Moriarty 321 Gold.com It doesn’t take long to overthrow a government. Algeria took a couple of months, Egypt took only three weeks. As of now, the Occupy Wall Street event is in its fourth week. It took three weeks of total silence for the news media before they... »