Here We Go Again: Obama Pushes Banks To Lower Home Loan Standards

Recently, White House Press Secretary Josh Earnest said the following: “One of the key legacy achievements of this presidency will be the important reforms of Wall Street. Those reforms have led to a financial system that is more stable and ensures that taxpayers are not on the hook for bailing out financial institutions that make risky bets.” Evidently the Obama administration has a different definition of “risky bets”, and “taxpayers not on the hook” than most people, because as the Washington Post reports: The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place. … administration officials say they are working to get banks to lend to a […] Read More

Robert Kiyosaki And Harry Dent Warn That Financial Armageddon Is Imminent

The following report was originally published by Michael Snyder at The Economic Collapse Blog Financial experts Robert Kiyosaki and Harry Dent are both warning that the next major economic crash is in our very near future.  Dent is projecting that the Dow will fall to “5,500 to 6,000 by late 2017″, and Kiyosaki actually originally projected that a great crash was coming in 2016 all the way back in 2002.  Of course we don’t exactly have to wait for things to get bad.  The truth is that things are not really very good at the moment by any stretch of the imagination.  Approximately one-third of all Americans don’t make enough money to even cover the basic necessities, 23 percent of adults in their prime working years are not employed, and corporate debt defaults have exploded to the highest level that we have seen since the last financial crisis.  But […] Read More

The Financial System Is a Larger Threat than Terrorism

In the 21st century Americans have been distracted by the hyper-expensive “war on terror.” Trillions of dollars have been added to the taxpayers’ burden and many billions of dollars in profits to the military/security complex in order to combat insignificant foreign “threats,” such as the Taliban, that remain undefeated after 15 years. All this time the financial system, working hand-in-hand with policymakers, has done more damage to Americans than terrorists could possibly inflict. The purpose of the Federal Reserve and US Treasury’s policy of zero interest rates is to support the prices of the over-leveraged and fraudalent financial instruments that unregulated financial systems always create. If inflation was properly measured, these zero rates would be negative rates, which means not only that retirees have no income from their retirement savings but also that saving is a losing proposition. Instead of earning interest on your savings, you pay interest that […] Read More

“Better Than Paper Money”: 7 Things You Need To Have When the Economy Collapses

This article was written and originally published by Activist Post. Editor’s Comment: These are the basics you should have covered. Many of the widespread, system wide scenarios involve a financial system that is crippled or inoperable for a period of time (as seen in Greece). There, cash is much better than non-working digital payments and assets locked behind institutions you can’t access. But money won’t buy things if there is no commerce, no stores and no one to do business with. On the other hand, these supplies will not only keep you and yours going for quite a while when the SHTF, they will also make good barter items in the underground economy. These 7 Things Are Better Than Paper Money in the Bank When the Economy Collapses by Activist Post So you’ve done the hard work of getting your finances in order and now you’re looking to invest […] Read More

The Last 16 Times This Happened There Was A Recession…

By Michael Snyder Something has just happened that has signaled a recession every single time that it has occurred since World War I. 16 times since 1919 there have been at least 8 month-over-month declines in industrial production during the preceding 12 month period, and in each of those 16 instances the U.S. economy has plunged into recession.  Now that it has happened again, will the U.S. economy beat the odds and avoid a major economic downturn?  I certainly wouldn’t count on it. As I have written about repeatedly, there are a whole host of other numbers that are screaming that a new recession is here, and global financial markets are crumbling.  It would take a miracle of epic proportions to pull us out of this tailspin, and yet there are many people out there that are absolutely convinced that it will happen. John Hussman is not one of […] Read More

The Lost Home Owner: “Soaring House Prices And Lack of Decently Paid Jobs” Affect Young

If it seems like the youngest generation of adults are missing out on starting their lives, and becoming real grown-ups… it might be because they are. And despite what you might be thinking, it’s not just a case of fixation on vapid social media, cultural decline or laziness among millenials that is to blame. There is definitely a problem with the economic realities of the day that is making a major contribution to this growing problem as well. The destruction of opportunity has been perhaps the biggest consequence of the economic crisis of 2008, and it continues to undermine the majority of Americans. Housing and rent prices have soared, along with other sharp increases in the cost of living. Meanwhile, student loan debt has been absolutely crushing (and threatens to topple the economic system once again) and college graduates have been mismatched with a severe shortage of good jobs […] Read More

The Facts: Why This Feels Like A Depression For Most People

This analysis was originally published by James Quinn at The Burning Platform. “And the little screaming fact that sounds through all history: repression works only to strengthen and knit the repressed.” – John Steinbeck, The Grapes of Wrath Everyone has seen the pictures of the unemployed waiting in soup lines during the Great Depression. When you try to tell a propaganda believing, willfully ignorant, mainstream media watching, math challenged consumer we are in the midst of a Greater Depression, they act as if you’ve lost your mind. They will immediately bluster about the 5.1% unemployment rate, record corporate profits, and stock market near all-time highs. The cognitive dissonance of these people is only exceeded by their inability to understand basic mathematical concepts. The reason you don’t see huge lines of people waiting in soup lines during this Greater Depression is because the government has figured out how to disguise […] Read More

What America Will Look Like Following The Collapse: Five Things You Can Count On Happening

This article was originally published by Dave Hodges at The Common Sense Show. Experts Warn These 5 Things Will Follow the Collapse of the Dollar By Dave Hodges It is easy to interpret the signals of our economy from afar when we see people driving cars everywhere and we tend to think that our economy is not that bad. The fact remains that 40 years ago Americans owned those cars that we see them driving. Today, we are renting them as 40% of us are leasing our vehicles. As we drive up and down our neighborhoods, we see people living in houses and we lie to ourselves as use this as a  false barometer to convince ourselves that everything is OK. However, many of these homes we see people living in, have lost all of their equity. The logical answer to the question “When will we have a depression?”, […] Read More

The Occult Truth Behind Capitalism

In 2008, the loss of 11 billion dollars by the world’s largest investment company, AIG, and the bankruptcy of the US investment bank Lehman Brothers, triggered a domino effect of financial consequences which brought the entire capitalist system within a hair’s breadth of total collapse. But, as the events leading up to the financial crisis were slowly unveiled, it became ever clearer that the crisis was caused, quite knowingly, by the bankers themselves. The Cause In the years leading up to the economic crisis in 2008, banks increased the funding for the riskiest loans (called subprime loans), from $30 billion a year to over $600 billion a year, rigged even higher interest rates on those loans, and then, while the bankers were making billions of dollars of profits off the borrowers’ high interest repayments, they made further profits betting against their customers ever being able to pay back the […] Read More

The Dismal and Hopeful Future

One doesn’t have to be a brilliant social analyst to see that the contemporary world order is doomed, destined to start visibly crumbling within the next decade or two at the latest. The neoliberal system, in fact the corporate capitalist system, is radically unsustainable. It is too unstable, too universally rapacious, too humanly exploitative and environmentally destructive, too demoniacally self-consuming–for capitalism can profit from its self-immolation!–to last much longer. Is it even necessary anymore to argue for these claims? Capitalism means self-sabotage. Its profit-making interest lies in paying wage-earners as little as possible, and ideally in mechanizing and automating them out of existence, for they’re expensive and troublesome with their demands for “rights” and other such nonsense. On the other hand, capitalism needs markets; it needs entities to sell things to, for that’s how it makes profit. Any sort of entity would serve its purposes–alien creatures, super-advanced machines, genetically […] Read More

Governments Worldwide Will Crash the First Week of October… According to 2 Financial Forecasters

This article was originally published at Washington’s Blog. Update: Please see correction at the end. Two well-known financial forecasters claim that virtually all governments worldwide will be hit with a gigantic economic crisis in the first week of October 2015. Martin Armstrong is a controversial market analyst who correctly predicted the 1987 crash, the top of the Japanese market, and many other market events … more or less to the day.   Many market timers think that Armstrong is one of the very best. (On the other hand, he was jailed for 11 years on allegations of contempt, fraud and an alleged Ponzi scheme. Armstrong’s supporters say the government jailed him on trumped-up charges as a way to try to pressure him into handing over his forecasting program). Armstrong has predicted for years that governments worldwide would melt down in a crisis of insolvency and lack of trust starting this […] Read More

Signs Of Financial Turmoil Are Brewing In Europe, China And The United States

Submitted by Michael Snyder via The Economic Collapse blog, As we move toward the second half of 2015, signs of financial turmoil are appearing all over the globe.  In Greece, a full blown bank run is happening right now.  Approximately 2 billion euros were pulled out of Greek banks in just the past three days, Barclays says that capital controls are “imminent” unless a debt deal is struck, and there are reports that preparations are being made for a “bank holiday” in Greece.  Meanwhile, Chinese stocks are absolutely crashing.  The Shanghai Composite Index was down more than 13 percent this week alone.  That was the largest one week decline since the collapse of Lehman Brothers.  In the U.S., stocks aren’t crashing yet, but we just witnessed one of the largest one week outflows of capital from the bond markets that we have ever witnessed.  Slowly but surely, we are […] Read More

Dollar Vigilante Warns of September 2015 Crash: “There Are a Lot of Things Going On… a Lot of Crazy Things”

The warnings signs of a coming collapse of the global financial system are starting to appear everywhere. From currency machinations in the United State and Europe to government exercises and simulations preparing the military and law enforcement for widespread civil unrest, it seems that those those in the upper echelons of the global power structure know that it is only a matter of time. Though the exact path to the next financial crisis is still unclear, there are a host of possible trigger events that could send the system into a tailspin in rapid fashion. The Dollar Vigilante Jeff Berwick, one of the most well known contrarian financial analysts in the world, suggests that the reckoning may come in the Fall of 2015. Berwick doesn’t make forecasts such as this lightly, but as he notes, there are a lot of crazy things going on and it’s just amazing to see all of these […] Read More