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ECONOMY
The government claims the power to seize all financial instruments: currency, Gold, silver, and everything else if they deem an emergency exists.
~ Treasury Department Letter August 12, 2005
The U.S. government's national debt is growing by almost $1 million per minute, or $1.4 billion per day. Merely paying the interest on what this debt has become is anticipated to place an increasing strain on public programs.
The debt has grown from $5.7 trillion in Jan. 2001, when President George W. Bush took office, to $9.13 trillion today, and is expected to climb past $10 trillion by the time Bush leaves office at the beginning of 2009. Because the interest on the debt keeps compounding, the percentage of the national budget that interest payments take keeps climbing. In 2006, the government spent $430 billion to pay interest on its debt.
The U.S. government's national debt is growing by almost $1 million per minute, or $1.4 billion per day. Merely paying the interest on what this debt has become is anticipated to place an increasing strain on public programs.
The debt has grown from $5.7 trillion in Jan. 2001, when President George W. Bush took office, to $9.13 trillion today, and is expected to climb past $10 trillion by the time Bush leaves office at the beginning of 2009. Because the interest on the debt keeps compounding, the percentage of the national budget that interest payments take keeps climbing. In 2006, the government spent $430 billion to pay interest on its debt.
Is Bernard Madoff Running the Federal Government?
- By Cliff Kincaid
- Published 12/21/2008
- ECONOMY
- Unrated
We have all seen the film footage of Madoff leaving his New York apartment and being pushed around by a horde of photographers and cameramen trying to get a shot of him. Why aren’t the politicians being surrounded in similar fashion for destroying the financial stability of our country?
If We Don't Learn From History...
- By Marilyn Barnewall
- Published 11/28/2008
- ECONOMY
- Unrated
Once all 50 states allowed branch banking, the Comptroller decided it was okay for banks to use bank holding companies to establish banks in other states… a direct violation of the McFadden Act. Suddenly, we saw First Interstate Banks all over the western United States. We saw NationsBank of North Carolina owning banks in Florida and Citibank moved into California and Arizona. Until this time, the McFadden Act prevented interstate branch banking – intrastate branch banking laws were controlled by each state. To my knowledge, the McFadden Act has never been over-turned… just ignored by the Congress...
Fed Bail Out Rich Arabs in Citigroup Deal
- By Cliff Kincaid
- Published 11/25/2008
- ECONOMY
- Unrated
It will be interesting to see if O’Reilly and other commentators, having excoriated the American automakers, will take issue with the Citigroup bailout, which was subjected to no public debate and no congressional hearings.Celente Predicts Revolution, Food Riots, Tax Rebellions By 2012
- By Gerald Celente
- Published 11/13/2008
- ECONOMY , What's Next?
- Unrated
Celente says that by 2012 America will
become an undeveloped nation, that there will be a revolution marked
by food riots, squatter rebellions, tax revolts and job marches, and
that holidays will be more about obtaining food, not gifts. "We're going to see the end of
the retail Christmas....we're going to see a fundamental shift take
place....putting food on the table is going to be more important that
putting gifts under the Christmas tree," said Celente, adding that
the situation would be "worse than the great depression".
A New World Financial Order
- By Jacob Steelman
- Published 11/13/2008
- ECONOMY , New World Order
- Unrated
In
the midst of the imploding US and European financial systems and
the resultant bankruptcies, nationalizations and bailouts the People’s
Daily, China’s official newspaper, called for a new global currency
to replace the US dollar. Writing in the People’s Daily edition
of 17 September 2008 Professor Shi Jianxun of Shanghai’s Tongji
University said that "[t]he world urgently needs to create
a diversified currency and financial system and fair and just financial
order that is not dependent on the United States."
How to Live Below Your Means
- By Danita Larson
- Published 11/12/2008
- ECONOMY , Tips
- Unrated
Living below your means is one of the best ways to become wealthy,
or simply break free of the financial stress and cycle of debt that is
plaguing so many right now. We came up with 20 tips to manage your money wisely, so your money does not manage you.
The Bankruptcy of the Nation and Conservatism
- By Cliff Kincaid
- Published 11/8/2008
- ECONOMY
- Unrated
The
Global
Europe Anticipation Bulletin, which predicted the current financial
crisis, is warning that the U.S. Government will default on its debts
by the summer of 2009 and that the “unfolding implosion”
of the U.S. economy will result in the dramatic decline of America
as a world power.
McBama, Financial Planners, Realtors, and Santa Clause
Who’s Behind the Economic Collapse?
- By Cliff Kincaid
- Published 10/31/2008
- ECONOMY
- Unrated
Joe Biden made headlines by talking about a “generated crisis” for a President Obama. But is the current financial meltdown another “generated crisis?” Considering the problems in the economy, including too much federal debt, too much spending and easy credit, which have been with us for years, why did this crisis suddenly occur only six weeks before the election?
