Banksters and Politicians lying through their teeth. Here comes the economic cliff. Read below people.

mal 2012/08/07 11:07:00
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  • Michael S. 2012/08/08 00:30:46 (edited)
    Michael S.
    Everyone keep in mind that this data is nearly a year old. We may be in big trouble, but judging the timing of a collapse is extremely difficult.
  • Matt 2012/08/07 14:30:34
    Our economy did not die a natural death. Both parties murdered it in the first degree.
  • Schläue~© 2012/08/07 13:02:15
    Reality is, we can't keep repeating the mistakes of throwing Trillions at the wall and expecting different results.
    What we're experiencing, is the Ponzi schemes of Social Security & Medicare out running their base, entitlements like welfare, unemployment extension, food stamps Medicaid, supporting millions of illegals are breaking the bank, and the orchestrated collapse of the housing market from granting mortgages to people who couldn't afford them.

    It all came to a head and unless some serious reductions in govt. spending occur, we'll continue to go further in debt and pass the complete breakdown onto the nest generation.

    These re the same failed policies of FDR which only prolonged the Great Depression by 7 years and Johnson's Great Society that threw Trillions at redistribution of wealth programs that have all failed miserably.

    Both the bank foreclosures and auto company's should have followed normal bankruptcy procedures and let the chips fall where they may. The artificial propping them up and manipulating sales didn't help a thing. The $Billion$ one time stimulus checks for $600 were spent within a week and did nothing for the overall picture.
  • RicardoCabeza 2012/08/07 13:00:26
    I find the fact that the money supply is greater than it has ever been and yet 20% of the population has fallen into poverty.... could it be that foolish $1.6 quadrillion derivatives market bubble that is on the edge of collapse?
  • mal Ricardo... 2012/08/07 19:03:11
    and will collapse in europe first then here.
  • Ricardo... mal 2012/08/07 23:34:49 (edited)
    The derivatives market is the problem, the bankers and brokerage borrowed from the fed and invested directly into these funds using the fractional ratios and are leveraged at a 100 to 1 with no collateral save for the QE1 and QE2 bailouts, they were supposed to lend that to the consumer and credit markets but instead they put it into in the most stupid paper and investments ever imagined... if it were not such a potential mortal travesty for so many people it would kind of be funny...
  • mal Ricardo... 2012/08/07 23:51:44
    Their sick with greed and a taxpayer backstop soon to be exausted.
  • 'Zedd 2012/08/07 12:08:38
  • Franklin 2012/08/07 12:05:41
    good luck with your anti capitalist rants kid ! You can't even post a chart that does not tell lies and you are convinced that a system that elevated hundreds of millions of Americans far above poverty has failed after 60 years but the system that is used in Cuba China and Mexico will work in its place ....nice try kid / it was socialists in the US government who created the market crash in 08 and more of the same acts by the same idiots will not fix what liberals have broken .
  • Ricardo... Franklin 2012/08/07 13:09:52 (edited)
    No, it was not socialists it was bankers using their correspondence accounts instead of collateralized margin calls that made the phenomena manifest. This is why QE1 and QE2 did not effect the economy, it was diverted into the derivatives market by brokerage houses that were given access to the Fed,s discount window... subverting the monetary process that created the economy of the last 60 years.
  • Eccles 2012/08/07 11:30:17
    It ain't going to get better only worse until we change our ways the system is corrupt to the core the dream is now a nightmare. Gambling does not create wealth only misery.
    Casino mentality, debt driven economies creating something out of nothing.
  • JMCC 2012/08/07 11:08:05

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