2016: 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

2016: 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 fraudulent 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

2016: “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, but 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

2015: 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

2015: These 18 CEOs/Companies Wrecked the Economy by Taking Trillions in Bailouts, Evading Taxes, and Outsourcing Jobs

Senator Sanders, in his no-nonsense approach, released a report identifying 18 CEOs responsible for wrecking the economy. Bernie Sanders is the underdog in the American political race, but he’s quickly gaining momentum as a prime candidate to lead the US, as his no-nonsense, candor approach is appreciated by many – especially the millennial generation. In response to 80 CEOs recently publishing a letter on the Wall Street Journal lecturing America about deficit reduction and urging them to “act on the deficit and reform Medicare and Medicare,” Sanders had the following to say:  “There really is no shame. The Wall Street leaders whose recklessness and illegal behavior caused this terrible recession are now lecturing the American people on the need for courage to deal with the nation’s finances and deficit crisis. Before telling us why we should cut Social Security, Medicare and other vitally important programs, these CEOs might want […] Read More

2015: 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

2015: 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

2015: Gov Report Says There Is No Inflation: “It’s Pure and Utter Bullsh*t”

Editor’s Note: Earlier today Michael Snyder pointed out that the purported 5.5% official unemployment rate is a massive lie based on skewed numbers. Nonetheless, Wall Street and a good portion of the American public have fallen for the sham hook, line and sinker. But the conjecture doesn’t stop there. It seems that everything the government has been disseminating to the public is loaded with half-truths or outright fiction. The latest example comes to us from James Quinn of The Burning Platform, who highlights the government’s claims that prices for essential goods and services are falling. As usual, Quinn succinctly dissects the reality of the situation and proves that regardless of the “official” numbers, Americans’ wallets are getting hammered at every turn.  How’s that deflation working out for you? By James Quinn The BLS put out their monthly CPI lie last week. They issued the proclamation that inflation is dead. […] Read More

2014: The Destruction Of The Middle Class Is Nearing The Final Stages

Submitted by Tom Chatham via Project Chesapeake, The events of the past few months seem astounding when taken in all at once. The plan to destroy the U.S. dollar and the American middle class is moving at an ever-increasing speed. At the recent G20 meeting the nations agreed that bank deposits would no longer be considered money. These bank deposits become the property of the banking institution and as such can be used any way the bank wants. This means that any money you deposit in a bank now is no longer yours but makes you an investor in the bank and subject to lose that money if a banking crisis takes down the bank. The spending bill just passed by Congress makes the American taxpayer responsible for any derivatives loses that banks may suffer. These derivative holders now have first priority when any funds are paid out and […] Read More