In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘economic collapse’

An Economy Destroyed

Posted by seumasach on July 22, 2011

The Enemy is Washington

Paul Craig Roberts


22nd July, 2011

Recently, the bond rating agencies that gave junk derivatives triple-A ratings threatened to downgrade US Treasury bonds if the White House and Congress did not reach a deficit reduction deal and debt ceiling increase.  The downgrade threat is not credible, and neither is the default threat.  Both are make-believe crises that are being hyped in order to force cutbacks in Medicare, Medicaid, and Social Security.

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It’s falling fast

Posted by seumasach on June 10, 2011

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Britain is massively in debt

Posted by seumasach on June 9, 2011

 Here you can find the deadly truth about Britain and its coming economic implosion. We are in a deep, dank, black hole and have resolved to bomb our way out. All we need to crown our misery is a further run on the pound.

The scandalous way thrift is still losing out to profligacy

Jeremy Warner


9th June, 2011

The old ones are always the best, so I make no apologies for starting this column with Wilkins Micawber’s famous observation about the importance of living within your means:

“Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”

The situation with Britain’s current account deficit is lamentably rather more serious than a mere six shilling overspend.

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Mythology & official nonsense

Posted by seumasach on February 15, 2011

Jim Willie


9th February, 2011

With the advent, then the continuation of the Quantitative Easing exercise in hyper-inflation and capital destruction, the US Federal Reserve has perhaps taken its deeply damaged reputation as a central banker and decimated it into shreds. They have lost the respect of the world, more so outside the nation’s borders than inside. The financial sector and politicians seem unable to stop showing deep reverence for the post, even licking the Chairman’s boots whenever he appears before the USCongress. Recent hints of contempt in WashingtonDC are encouraging. He has not made a single correct forecast on major items. The USFed in short has lost control. See the rising bond yields, which torpedo the housing ship, badly listing as a derelict vessel. The USFed seems thoroughly content to rescue the big US banks, whose wretched condition cannot possibly be rectified, even if such a rescue results in global price inflation and revolts. The decision made after recognition that a recent QE chapter has failed is clearly to repeat it. When QE2 is exhausted or deemed a failure, expect QE3 at the doorstep. This behavior exhibits insanity. The February package of Hat Trick Letter reports includes a special report entitled “USFed as Agent of Destruction”that elaborates on the deep damage.

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US becoming a Third World country?

Posted by seumasach on September 6, 2010

As the US/UK faces oblivion it is hardly coincidental that they are trying to reactivate a key “asset” with a view to stirring up further evil: I refer to the inimitable liar and charlatan Tony Blair who is not only still at large but is being presented as a senior statesman. This is the epitomy of desperation.


6th September, 2010

Some of the warning signs that indicate America’s fantastic fall from a First World nation include rising unemployment and poverty.

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UK economy: death spiral begins

Posted by seumasach on August 10, 2010


10th August, 2010

House prices fall as economy sees house prices fall

Government austerity measures are already plunging the British economy into reverse according to figures published today which reveal sagging high street sales and renewed falls in house prices.

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50 statistics about the U.S. economy that are almost too crazy to believe

Posted by seumasach on July 5, 2010

Most Americans know that the U.S. economy is in bad shape, but what most Americans don’t know is how truly desperate the financial situation of the United States really is.  The truth is that what we are experiencing is not simply a “downturn” or a “recession”.  What we are witnessing is the beginning of the end for the greatest economic machine that the world has ever seen.  Our greed and our debt are literally eating our economy alive.  Total government, corporate and personal debt has now reached 360 percent of GDP, which is far higher than it ever reached during the Great Depression era.  We have nearly totally dismantled our once colossal manufacturing base, we have shipped millions upon millions of middle class jobs overseas, we have lived far beyond our means for decades and we have created the biggest debt bubble in the history of the world.  A great day of financial reckoning is fast approaching, and the vast majority of Americans are totally oblivious.

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Surge in Military Spending: A Titanic Budget in an Ocean of Icebergs

Posted by seumasach on March 5, 2010

Jo Comerford

Global Research

4th March, 2010

Send up a flare! The 2011 federal budget has sprung some leaks in the midst of a storm. Not sure there’s enough money for life rafts!  Forget women and children first!

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City removes trash cans, streetlights to save cash

Posted by seumasach on February 27, 2010

Jim Spellman


26th February, 2010

Colorado Springs, Colorado (CNN) — If you come to a neighborhood park in Colorado Springs, plan on bringing your own trash bags.

To save money, the city has removed the trash cans.

Need to catch a bus? Don’t try on evenings or weekends. The city has cut that service, too.

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The Economic Elite Have Engineered an Extraordinary Coup, Threatening the Very Existence of the Middle Class

Posted by seumasach on February 18, 2010

David DeGraw

Silver Bear Cafe

18th February, 2010

The economic elite have robbed us all. The amount of suffering in the United States of America is literally a crime against humanity.

“The American oligarchy spares no pains in promoting the belief that it does not exist, but the success of its disappearing act depends on equally strenuous efforts on the part of an American public anxious to believe in egalitarian fictions and unwilling to see what is hidden in plain sight.” – Michael Lind, To Have and to Have Not

We all have very strong differences of opinion on many issues. However, like our founding fathers before us, we must put aside our differences and unite to fight a common enemy.

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Stocks slide, shrugging off “manufacturing rebound”

Posted by smeddum on September 2, 2009

Stocks slide, shrugging off manufacturing rebound


By SARA LEPRO, AP Business Writer –

Tue Sep 1, 2:16 pm ET

NEW YORK – The stock market’s six-month rally finally gave way Tuesday, succumbing to resurgent worries about the fragility of the banking industry and the economy as a whole. Read the rest of this entry »

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