Monday, December 28, 2009

The Hard Year for the World 2010

The unemployment level in the United States has reached a record level recently. Over 500,000 Americans lost their jobs in November, about 1.5 million people were fired during six months of the outgoing year. The unemployment has reached the level of 6.7 percent which marked the highest point in 15 years, the US Department of Labor said, but the actual of Shadow government data is

Last Updated: December 4th, 2009

The US economy is running an enormous deficit and is suffering from mass unemployment. This country seems to have no other option but to continue printing dollars, making the greenback cheaper – and making foreign held debt less valuable while US goods get a competitive bonus.

The dollar is the most widely used currency in the world, and this makes the global economy dependent on the policies of the Federal Reserve.

“With the US, it’s great if they have the world reserve currency, and everyone needs to buy US dollars to conduct their business,” financial expert Max Kaiser told RT. “And this is why countries like Russia and China and Brazil are trying to divorce themselves from the US, because it’s a completely toxic currency that’s just right for the counting fraud.”

“It supports an empire that’s just too lazy to compete,” he added.

The idea of a supranational currency, independent of sovereign states, is not a new one. But this is the first time an institution of such importance has made the proposal.

The United Nations says it wants to go back to the idea of Special Drawing Rights, or SDRs, and make it into a proper currency. The International Monetary Fund would then provide liquidity when and where it is needed.

“The IMF could act as a World Central Bank that steers the global money supply,” Detlef Kotte, an economist at UNCTAD, explains.

But more importantly, why do countries need to hold foreign exchange reserves? According to Kotte, they need to hold them largely in order to prevent speculative attacks on their currencies.

“If we established an exchange rate system that would guarantee more stable exchange rates, the need for foreign exchange reserves would be much reduced. Therefore, in our report, we focus very much on the reform of the international system to determine the exchange rates,” Detlef Kotte said, expanding on the idea of the UN proposal.

The idea would allow for a more united global financial policy, reducing the risk of crises like the one we are all in now, which has been widely blamed on the United States.

But, as economists point out, the dollar’s dominant role was formed over the past 15 years, and it will take decades to change that.

“There should be a single economic space which should be used as a source of growth for the rest of the world, as the US does now, for example,” Vladimir Osakovsky, the head of Strategy & Research at Unicredit Bank said. “It is possible, in the end. Eventually, we are moving in that direction. But it’s a very long-term task for global policy makers.”

The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of the profession, an investigation by the Huffington Post has found.

This dominance helps explain how, even after the Fed failed to foresee the greatest economic collapse since the Great Depression, the central bank has largely escaped criticism from academic economists. In the Fed's thrall, the economists missed it, too.

"The Fed has a lock on the economics world," says Joshua Rosner, a Wall Street analyst who correctly called the meltdown. "There is no room for other views, which I guess is why economists got it so wrong."

The problems of a massive debt overhang were also thoroughly documented by Minsky, but mainstream economists pretended that debt doesn't matter.

And - even now - mainstream economists are STILL willfully ignoring things like massive leverage hoping that the economy can be pumped back up to super-leveraged house-of-cards levels.

As the Wall Street Journal article notes:

As they did in the two revolutions in economic thought of the past century, economists are rediscovering relevant work.
It is only "rediscovered" because it was out of favor, and it was only out of favor because it was seen as unnecessarily crimping profits by, for example, arguing for more moderation during boom times.

The powers-that-be do not like economists who say "Boys, if you don't slow down, that bubble is going to get too big and pop right in your face". They don't want to hear that they can't make endless money using crazy levels of leverage and 30-to-1 levels of fractional reserve banking, and credit derivatives. And of course, they don't want to hear that the Federal Reserve is a big part of the problem.

Indeed, the Journal and the economists it quotes seem to be in no hurry whatsoever to change things:

The quest is bringing financial economists -- long viewed by some as a curiosity mostly relevant to Wall Street -- together with macroeconomists. Some believe a viable solution will emerge within a couple of years; others say it could take decades.

Last Updated: December 13th, 2009

22 Responses to “Why the Hard Year for the World in 2010”


There’s a lot of conflicting info out there on US debt vs. GDP. I find info ranging (EOY 2009) from 53% - 90%. Also look into Finland, Sweden, and Norway…their percentage is sky-high from what I’ve seen.

It’s time to go against the grain and prudently prepare for the inevitable. It’s only a matter of time.

Thanks for another great collection of info and thoughtful commentary. …will be sharing.

Did this add to your article or just coincidence?


The year-end display of happily-inflated good news is designed to increase tax revenues for the IRS. Look to late January-February for more accurate economic figures, which will be bad, no doubt.

For along time I’ve felt a recall of all elected officials and new General Elections is the only alternative to an actual revolution, which frightens me greatly since I can’t protect my children and grandchildren from the anarchy that would follow.

Maybe a holiday from banks (much like FDR’s “bank holidays”), wherein we just stop paying everything except local merchants is a solution. Not a happy one, but we’re screwed either way.

Maybe they’ll patch something together, but it could be too late.
Based on what I see and hear in my community, this country is ready to blow, and Washington and Wall Street will suffer casualties. Sad that it’s come to this.


This article was written with pure accuracy and alertness to what is taking place day by day. Sleeping, YES, even when we are paying attention we are still sleeping because, we have not hit the skids fully yet! 2010 will be catastrophic financially for global economies. False flags of recovery are pure quick sand and will take many to the bottom. We are moving rapidly from globalism to World Order with new fiat junk paper, the difference will be the price we pay with our souls. Keep your wits about you, don’t be deceived by the elect. Your article was refreshing because, the fluff was taken out to reveal the truth. The Truth is hard to come by these days. I encourage you to keep telling it like it truly is, and enjoyed reading every last word of it.


Excellent article. The bullsh** can last so long before the truth hits people between the eyes. The USS amerika is sinking and main street media would like you to believe otherwise. We are a nation of food, hospitals, banks, and government. All the idiots voted for change, they got a different name, but business as usual. The parties are both bought and paid for.


The timing of the rare snows in Copenhagen and blizzard conditions in Washington D. C. truly show Divine Intervention to humiliate the organizers and WARN Jews and Christians that just as the first Chanukah celebrated the end of a tyrannical period, THIS Chanukah is at the beginning of a new violent dictatorial era for all mankind and end of life as we have known. We have stepped into an era of trouble such as never seen since creation of man or ever will be again in future. Truly we have entered a time that all men and women must face a danger and decide whether in eternity they will shine as bright stars forever or live in shame or everlasting contempt.

It will be some time before people look back to 2009 Chanukah as the year God warned the rulers of earth that He exists, is still alive, in control of human events, and will not tolerate too much longer human enslavement of mankind by a few families. The Global Warming Conference in Copenhagen was to use “global warming” as the disguise and excuse to bring the nations under a one world totalitarian government. Once again man wants to build his “Tower OF Babel” with all peoples forced to live under a new feudalistic system, struggling to survive with minimum food allowances and necessities; with majority of the fruits of their labor going to the rulers.

The conference was doomed from the start when the e-mails were published for the whole world to see, showing the data used to scare people was all fabricated. - intended to collapse capitalism and transfer wealth from the productive countries, primarily the United States, seen as the primary target because Americans love too much their freedom and guns. The double edged sword of Forced Health govenment care and wealth distribution via “global warming will break America forever, just like humpty-dumpty..never to rise again.

At the same time Americans are being attacked with the obama health care plan. What most people do not know is that there is a section: National Medical Device registry Sub Title C-11 Sec:2521 which discusses RFID tracking microchips. Supposedly, this part is written innocently enough, but can be changed later to FORCE ALL AMERICANS TO BE IMPLANTED WITH A MICROCHIP IF THEY WANT THEIR SOCIAL SECURITY CHECKS OR MEDICARE… YOU ARE ALL AWARE OF THE BIBLICAL IMPLICATIONS OF THAT.. I have not read the health care bill but have received numerous e-mails concerning that section.
If you are the individuals i think you are, I know you will fight with all you power to defeat oBAMA’S HEALTH CARE BILL because when it passes it will guarantee the death of democracy and a fascist government forever with all pretense of supporting Israel dropped and America’s extreme left sinks their claws into our throats to destroy us.

As if the threats of global warming and obama-care were not enough; there are now many religous “Christian” organizations that consider anyone who believes in the Hebrew Prophets and Book of Revelations are nothing but dangerous psychological misfits. They will not rest until they have a one-world religion, tolerant toward all and picking portions from each major religion so as not to offend anybody..The Ultimate “hellinization” of all humanity.
In other words, think; DESTRUCTION OF Those Jews and Christians believing we are in the redemption period…((and if you are silent enough to listen to the Holy Spirit in Your Heart, you can hear the footsteps of Messiah.))

I truly believe God has shown us a last generation Chanukah Miracle to prove HE IS STILL WITH US AND WILL BE STANDING BY EACH OF US AS WE DO OUR FINAL WALK AND NOT JUST TALK. As for myself i will keep transmitting news to any that will listen until I am silenced by the enemy ….Those were my final instructions in 1955 when I had finished a special course at our U.SAF. Security Service World Hqs, San Antonio, Texas, learning how I was to use the Russian Language I had been taught at the Defense Language Institute, Monterey, California(Old Army Language School). DO YOU BELIEVE GOD HAS GIVEN US AN INSPIRATIONAL CHANUKAH 2009 MIRACLE TO CARRY US ACROSS THE FINISH LINE INTO THE MILLENIUM REIGN OF OUR LORD??

by Louis A. Romo


The deregulation of the banknig and Saving loan industries during the 1970’s has now returned to haunt the industry. The banks now make their profits on service fees and not on their loan profolios and the loan profo requirements were changed in the 1970’s by the good old USA Government when they told the banks they had to change some of their loan requirements. I was in the industry at the time and have seen the liberal changes to loan requirements, which of course, made the economy grow. Grow - yes Grow along with high risk loans. In any case it has now caught up with itself and your article shows- again the irresponsibility of politicians running a country. Hyper inflation is on the way and to counter it will be a tightening of expenses. Look for the expense of war to end and the troops coming home. Are expenses comming down? No! Here we are again increasing expenses (health care) when we should closing down our wars and closing our military bases in foreign countries and balancing the budget. Please keep writing your articles as it willhelp people to prepare for harder time ahead.


surely the end is near for the system we live in.only a revolution can save us now.we have been played like cheap violins by the powers to be sad, but a lot of the country is in a coma!


Your article sums up what the reality of this economic situation is, and is true that most of America is unaware of the dire consequenses that are about to befall not only them, but unfortunately the rest of the planet.

I don’t disagree with any point you have made. I will add two very important points that you left out, that you and your readers I hope will take to heart.

One, there are roughly $600 trillion in toxic derivatives sitting out there in every major bank in the world. It is the shadow gambling casino that Goldman Sachs and the Feds have let run rampant to fill the pockets of the very rich Wall Street gangsters.These derivatives are basically worthless.

The day of reckoning is near. Dubai World is the canary lying at the bottom of its gilded gold cage in the mine,breathless. This is a warning for the rest of the world that this fake holographic economic absurdity the world calls an economic system, and that mankind is a slave to, is about to implode on itself.

This system is based on the imagination of a few Elite people that think they are eventually going to control this planet and all that live on it. This system they conjured up was doomed to fail from the start, as they are also doomed. It is based on nothing but air. It’s not real!

Secondly, humanity is unaware of the two things humans cannot survive without. That is food and water, both of which there are coming shortages of thru out this planet. Humans have polluted this planets waterways, oceans, land, and dessimated her forests. The time has come to end this chapter of destruction.

The coming shortages will put the final nail in the coffin of humanity, and if that doesn’t, in all likellyhood there will be a major conflict in the world that will.

This play is in the final act, and the curtain is about to fall, and there is nothing that any human at this point in time will be able to do to stop it. This planet is awakening with an energy that will put an end to all the suffering on this planet. Humans don’t seem to understand that we are all of the same star matter that makes up the whole universe.

Everything is interconnected, and this planet has felt enough hurt. Its molten heart as is the human heart, is pure, and what gives us life. We have abused our privelage of living on her, and the time has come to put an end to this chapter. If only people would awaken to the fact that we are all the same.

There is no need for fear. There is no safe place to hide. The Elite have underground bases. They will not be safe from what is about to occur! There is only one way to prepare, and that is to believe in the heart virtues, and with that, all it takes is 25% of the human consciousness to enter a new paradigm of existance.

I hope you will post these comments, as I can only hope that if one reader understands this, its one more human that may be able to consciously help the transformation of humanity to the next journey that lies ahead.

Its time to leave behind the greed and corruption, money, and politics. Its time to reach for the stars where we were meant to go and gain the knowledge and wisdom of the universe. Then we will join the civilizations of the multiverse, and maybe eons from now, we will meet our creator with open arms, the true source of where it all began. But its not the end of the journey that we should be looking forward to, but the journey itself that gets us there.

May we all meet in a better place soon!


While you’ve done an excellent Job covering the economic aspects of the sinking Titanic there is another more dangerous one brewing.
Our enemies are not fooled by the MSM lies and spin and are preparing to make their move to kill off the dying beast.
This is why Iran is so bold in telling the Empire running on empty to take a hike.They and their anti American axis have set a trap for the US navy in the Persian Gulf when the wimpy Obama decides to start looking like a leader and toughen sanctions by way of a US Naval Blockade.The surprise attack on our sitting duck Naval fleet and military bases surrounding Iran will make our economic troubles pale in comparision to the fallout from this apocalyptic event.


Actually those banks are not “gambling” in the stock market when they are part of the system that controls the news and rigs the stock market, shorting it on its way down. What I want to know is how much money has this sucked out of investors and what do they plan on doing with it.


Excellent article.Personally I believe that the current financial crisis has been delberately engineered by those who seek total domination and control of humanity. People will be soon so desperate, and scared and hungry, that they will probaly accept a new global currency/power structure with open arms.

Im waiting for the next big bait and switch. We have just had a monumental one with Copenhagen, thinly disguised as Climate talks, but which in reality was the signing of a treaty which will in effect give birth to a Global government. All nations signing this effectively hand over total control. see

which quotes clauses of the actual treaty signed. Just like the federal reserve act in 1913 which was signed off on Dec 23rd when most of Congress had gone home for Xmas, the Copenhagen treaty was signed after many had left. It explains why Obomber didnt turn up until the end…the rest of the talks meant nothing and weren’t important.

Climate problem?> solution global climate government, read ” one total global government”. (this why none of the carbon trading, C02, global warming science deos not add up. It doesn’t have to make sense! it is not and never was the reason for HopeInhagen.

There seems to be a desperate race to get the NWO in place before 2012, and before we collectively wake up and fully realize our supreme power within us all to do away with all of his nonsense. The NWO cannot function without us, just as war cannot function without troops. Goverments cannot function without us. We have the power and the numbers…we just have to take responsibility and take it all back.

i think 2012 will not be the end of the world, but rather the beginning of a new truth era. Im not into he bible but I think the theme will be “And the truth shall set ye free!” Once the truth surfaces for all to see, and the bandits that hijacked the USA and UK and other nations hell bent on world domination, are tried and put behind bars, liberty and comon sense will stand a chance of full recovery.
The internet is one key step in exposing Truth and steering us toward the new cycle.. When we personally become truthful with ourseves, and all those with whom we deal, much of the current nonsense will vanish.

The current challenge of course is that most of us prefer to be told lies rather than face the fact hat absolute power corrupts absolutely, and we have been too lazy to keep, those who are supposed to represent us, in check.

You know things are evil when:

a. Bomber wins the Nobel peace Prize

b. A Kenyan gains USA presidency

c. Burntbanke gets another term

d. kissinger heads up the 9/11 investigation

e. the investigation into B Liar is not actualy for the purpose of trialling him for war crimes

f. Al whore has the gall and the support to speak at noHopeinhagen when he has been repeatedly exposed as a fraud and a liar.

g. we are told that we are in a global warming period at the same time people are freezing to death across Europe, the trains stops for the first time and the USA is experiencing 10 dgree colder temps than previously recorded in some parts.

I am sure you can easily cite plenty of other bizarre facts that should tell everyone that things are indeed upside down.

WE do have the power to right it. Are you with us?


The USA has been an empire since WW1. The creation of the Federal Reserve and income tax to soak the populace were just tools to meet that end. Now, like all empires in history, we are getting our just comeuppance. The values of the Founders and their ideals no longer hold sway in society. The power elite keep the vast entitlement class quiet with a small amount of money (bread) and television (circus). They figure the few of us wise enough to see the truth can be controlled or silenced. If you understand this, get ready for what is coming!


What strikes me is the sickening arrogance of our leaders and the bloated fat cats on Wall Street. The President has dropped the populist rhetoric and signed the wealth of the American people over to Wall Street speculators and the military industrial complex. All promises of change are revealed as lies while the media directs the outrage of the people not against Wall Street and our fascist government, but to the “horror” of socialized medicine. Their is a huge propaganda war to subvert the rage of the population and it just might be working.


Congress Budget
Dept of Defense 57%
Health & Human service 6%
Transportation 6%
State and other Int’l programs 4%
Housing/Uban development 4%
Other agencies 4%
Homeland Security 3%
Energy 2% Agriculture 2%
Justice 2%
Environment 1%
Commerce 1%
Larbor 1%
Treasury 1%
I would think this is enough evidence, that they do not have their hearts in the right place. The horror for the deniers are going to get ugly!!

God Bless The Planet Earth

May there be PEACE ON EARTH and let it begin with ME!



“In a dark time, the eye begins to see,” poet Theodore Roethke.

“Apocalypse” is a Greek word meaning “the lifting of the veil between you and God,” (or Knowledge of Reality).

The Internet is the vehicle through which the Apocalypse is now leaking knowledge, and the leaks are out of control

By Tom Dennen, author of ‘Grand Theft, Planet or Heidi’s Free Bar & Grill’.)

It’s becoming clear to many more people how the ‘matrix’ - the system - works, and how the Internet is the leaky bucket out of which the truth is flying.

Since the early goldsmiths discovered fractional lending and made money out of thin air (predatory lending), they have been thrown out of every courntry they set up in, after which those countries returned to resource-based economies and went through several decades of economic recovery.

Until the sixteenth century, in Holland.

Then and there, when the goldsmiths were discovered creating usurious debt, the already wealthy government and merchant classes simply joined them in the first full “collusion among corporatocracy, authoritarian government, and controlled media and education.”

Add bankers to that list and you have the recipe for the last three hundred years of fascist fiscal theft through market manipulation.

Holland was the site of the first experiment in money market manipulation, today called ‘Tulip Mania’, also a generic phrase given to an ‘out-of-control’ Bull Market.

‘Tulip Mania’ is however, just the opposite - it’s a controlled boom situation; controlled by those who run the Great Wealth Shift every generation, starting with the South Sea Bubble crash in 1720.

Every fifty years or so since then, the markets have peaked - and exactly nine years later, crashed - followed by a depression during which, bracketed by expensive wars, vast amounts of properties were foreclosed and the ‘masters’ transfered huge amounts of the wealth accumulated by the working class - “all wealth is created by work” (Adam Smith) - who were left to starve.

Just like today.


“All long-term credit cycles end with asset crashes in the markets of the leading economy. Measuring from crash to crash the dates of the modern credit cycles are as follows:”(starting with the South Sea Bubble)

Span Duration

1720 - 1772 52 years
1772 - 1825 53 years
1825 - 1873 48 years
1873 - 1929 56 years
1929 - 1990 61 years

“The crashes and resulting depressions appear to be less intense and traumatic when the end of the cycle does not coincide with a shift in world economic predominance.” - The Great Reckoning, James Dale Davidson & William Rees-Mogg, 1993.

Recent benchmarks:

1907 Financial Panic

1913 The Reserve System Created

1929 Great Depression

1933 Executive Order outlaws owning gold

1934 Gold Reserve Act freezes gold at $35 per ounce

1971 United States abandons gold standard

1974 U.S. citizens allowed to own gold

2009 Gold exceeds $1100 per ounce

The depression following the 1990 crash is fully and globally upon us and, because we are in the middle of the biggest shift in world economic predominance, we will not see the end of it for a long while.


Both Lincoln and Kennedy were assassinated after introducing sovereign currencies, which were quickly removed from circulation after the killings.

What happened to Schwartzenegger’s IOUs? They were de facto sovereign currency paid back on maturity by the state at a 3.75% interest.

(It took the entire western world including Russia, incidentally, to crush Hitler who had introduced sovereign money).

The American Colonies, with their debt- and interest-free sovereign currency called Colonial Scrip were doing very prosperously in the 1700’s until the British Banking Act of 1775 forbade its use. Two years later the colonies were in a depression and declared independence from Great Britain’s financial oppression.

The most significant leak in Ellen Brown’s book, ‘Web of Debt’ is coming from the Global Warming lies now out in the open.

The Bilderbergs / governments / banks / merchants / landowners / fake scientists / Big Pharma and the rest are now too big to fail at keeping their secrets.

Solution? This will set us free.

Return to resource-based economies.

Do not borrow unless it’s from a state, county, city or people-owned bank that does not charge interest.

Gather together and itemize all the resources of your community and barter.

Keep your wealth to yourselves.

Above all, don’t listen to snake oil salesmen like Obummer and Al Bore who are just stealing while callously killing your children for money.


Book of James Chapter 5

Warning to Rich Oppressors.

Your best bet is to get or renew your personal relationship with God through Christ.

Obama, Bush Jr., Clinton, Bush Sr., Reagan, etc are all puppets groomed in the aristocracy run higher education centers of Harvard, Yale, Oxford, etc. They all do exactly what they are told to do. They frost the poop cake for their base with various liberal or conservative efforts.

Recent example is Obama’s health care reform. No public option regardless of the fact that he campaigned and promised it. Apparently his Reverend Wright tried to warn when he said Obama will say anything to be elected.

Book of Luke 23:24
28Jesus turned and said to them, “Daughters of Jerusalem, do not weep for me; weep for yourselves and for your children. 29For the time will come when you will say, ‘Blessed are the barren women, the wombs that never bore and the breasts that never nursed!’ 30Then “‘they will say to the mountains, “Fall on us!” and to the hills, “Cover us!”’

Revelation 6:12-17
12 And I beheld when he had opened the sixth seal, and, lo, there was a great earthquake; and the sun became black as sackcloth of hair, and the moon became as blood; 13 And the stars of heaven fell unto the earth, even as a fig tree casteth her untimely figs, when she is shaken of a mighty wind. 14 And the heaven departed as a scroll when it is rolled together; and every mountain and island were moved out of their places. 15 And the kings of the earth, and the great men, and the rich men, and the chief captains, and the mighty men, and every bondman, and every free man, hid themselves in the dens and in the rocks of the mountains; 16 And said to the mountains and rocks, Fall on us, and hide us from the face of him that sitteth on the throne, and from the wrath of the Lamb: 17 For the great day of his wrath is come; and who shall be able to stand?

Accept the free gift for grace from Christ before you must make a choice of worshiping the beast or worshiping God. For as in the days of Noah, many will scoff and few will believe and then God will close the door that no man can open.

Come back to Christ before else you will perish.


Religion is another major “truthout” that we will have to be frank about and confront head-on if we are to truly progress. It will be like accepting that there is no santa claus…not easy for some.

All religions are prisons for the mind. They separate us, put us in various boxes,some encourage war, help us to forget who we really are, and encourage us to think that something outside of ourselves is running the show.

These mostly fear-based long running franchises have to vanish. We forget too easily that we are all brothers and sisters.

Believing in nonsensical fairy tales, fear based stories and fudged records is what helped to get us to where we are today, and what the powers that be still hrow at us. e.g global warming.


Foreign investment in U.S. debt has plummeted. Barack Obama is attempting to auction off $150 Billion in U.S. T-bills, but net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been only $8.3 billion. Even more disturbing, foreign holdings of dollar-denominated short-term U.S. securities, including Treasury bills, and other custody liabilities decreased $43.9 billion. Foreign holdings of Treasury bills decreased $38.3 billion. Meaning, not only are foreign investors NOT buying American debt, they are also beginning to get rid of the treasuries they already own! The biggest purchaser of U.S. Treasury debt is now the private Federal Reserve, printing money out of thin air and buying T-bills in order to prop up the value of its own currency! This cannot go on for much longer.

In order to permanently strengthen the basic value of the dollar, one of two things must happen; either the Fed must decrease the supply of dollars in the system (they are doing the opposite, printing up to $24 Trillion out of thin air in the span of a year), or, the Fed must somehow increase demand for all the dollars being created. As the dismal results of recent treasury auctions show, NO ONE wants dollars, especially not for the long term.

The consequences of this are obvious. Eventually, our incredible debt will become unserviceable, and the dollar will become completely undesirable. The Federal Reserve will be forced to raise interest rates and stop its endless printing, which will then pull the rug out from under the Dow and the T-bill market, making things even worse. Dollar proponents always seem to forget this very important detail; America is taking on more debt than it or any other country has in history. Without continued exponential investment from other countries, this debt will end the dollar, regardless of the weakness or strength of other national currencies, or the true rate of inflation.

For now, the Dollar will enjoy an increase in value due to weakness in Europe and uncertainty in stocks, sending more crisscrossed signals to the public as to the actual health of the economy. As far as the basics are concerned however, this increase will be short lived.


Credit Market Recovery? Not A Chance…

The stated purpose, the entire reason for the Banker Bailouts and the flood of printed money into our financial systems, was to “restore credit markets” so that banks could begin lending again.

First off, such a concept is astoundingly moronic. What caused the collapse of the housing market in the first place? Unhindered accumulation of debt by people who could not afford to pay it back! This debt was, of course, facilitated by the private Federal Reserve’s artificially low interest rates, which gave banks free reign to throw cheap money wherever they pleased. When people began to default on their loans en masse, the bubble burst, and triggered the landslide we are seeing today.

How exactly would the creation of more lending, and therefore more debt, fix a problem caused by too much debt? If the average American can’t afford to pay back their old debts, then why in the world would they want to take on new debt? The philosophy of forcing liquidity into the same debt mechanisms which caused the problem in the first place to save the economy could only be dreamed up by someone with the mind of a naive child, unless, that someone wanted to deliberately make the problem worse….


So the goal of the bailouts, the goal given as an excuse to assuage the anger of the American people, was never accomplished, and probably never will be.

If banks aren’t using the bailout money they were given to create new loans then what are they doing with it? Some are hoarding the cash, while others have been gambling with it in the stock market! If the bailout money is still sitting in the pockets of bankers, and it never went into credit markets, then how can the Fed claim that it stopped the collapse? The fact is, the bailouts have done absolutely nothing except prop up the Dow and give the illusion that things are improving. No amount of spin, though, can change the fundamentals.

Banks across the country continue to shut down at an alarming rate. The FDIC has closed 140 so far this year, and recently announced the closure of two banks in California with assets totaling in excess of $10 Billion!


Not only this, but the FDIC is in many cases unable to sell off these bankrupt assets to other banks, meaning, they are forced to absorb the entire debt instead of a small piece of it. Any depositors at the RockBridge Commercial Bank with savings of more than $250,000 in their accounts have essentially lost the remainder. Recovery of their savings could take months, and even then they may get only a portion of what they had in their accounts.

What does this mean? It means that the FDIC is having trouble guaranteeing your deposits. Why? Because the FDIC is broke. Before the announcement of the two California banks totaling $10 Billion, the FDIC was officially in the red for $8.2 Billion. The real amount of debt the FDIC has incurred is probably far more than reported.

I have heard it argued that 140 closed banks is not such a terrible number. During the Great Depression, over 3000 banks were shut down. This is another straw man debate point. Yes, thousands of banks were closed during the depression, but there were numerous small private banks and city banks in those days, and their total deposits were miniscule compared to modern corporate banks. It is not the number of banks closed that is important, it is the size of their assets and deposits which makes or breaks the FDIC.

How long can the Treasury go printing money to bailout the FDIC? I suspect not very long.


Housing Is Still In Trouble

The bottom line is, nothing has changed except how we are told to perceive the situation. Changing how one looks at a problem does not make the problem go away, as much as we would like it to. This fact goes for the housing issue as well.

We are told constantly by the MSM that the markets are improving, but if this is so, then why are large banks continuing to go bankrupt due to defaults on home loans? Why is it that mortgage delinquencies continue to rise to record levels every month?

Even families that received direct help from the U.S. government “foreclosure prevention plan” are behind on their payments!

A glut of foreclosed homes are now on the market, but banks are having trouble finding anyone to buy, even at discount price ranges.

In response, the Federal Reserve is executing a plan to pump $1.25 Trillion into mortgage backed securities in order to bring interest rates down to record lows. This is very similar to the policy which they used to cause the housing crash in the first place.

Again, what we are told by the MSM and the government, and what seems to be occurring at the foundations of the economy, are in total opposition. Someone somewhere is lying.

On The Other Side Of The World…

Terrible events can occur while the masses are psychologically unaware or “asleep”, but they can also occur while we are literally asleep too. In a world designed around the concept of Globalization, that which damages the economy of one country, can have drastic effects on another. This was made evident by the recent trouble in Dubai, however, there is much more happening on the other side of the world that we rarely hear about.

Italy, Greece, Germany, UK, Ireland and Spain are currently in dire straights with mounting and unserviceable debt. But these are not the only European countries in danger of default. If one examines debt as a percentage of a country’s GDP, one can see which nations are on the edge of collapse.


Nations with a high debt to GDP ratio have a tendency to default, that is, to go bankrupt. Greece and Italy already have a national debt larger then their entire GDP, which means the revenue of each country for a whole year is not enough to pay off what they owe! This indicates the very real possibility of economic collapse in these countries. Spain, UK, and Germany are all on the edge of the abyss as well.

Debt is the major driving force that will trigger collapse, and the U.S. is well on its way to accumulating epic amounts of it.

If any of these countries default on their debt (including the U.S.) the shockwave will send the rest of the globe into financial retreat.

Smoke And Mirrors

It’s nice to maintain a rosy outlook on the economic situation we face. It makes us feel safe. The fact is, though, that we are far from safe, and denying the problem will not make it go away. The MSM’s main drive, at least for now, is to promote a sense of well being. Some of them do it because they believe the markets are driven by psychology and that by creating a positive atmosphere, we can somehow make our troubles disappear through shear force of will. Of course, this is an absurd notion.

Others ignore the facts and spin ideas of recovery deliberately and with malicious intent, because they know comfortable people are not alert, and those that are not alert are easy to surprise, and surprised people are easy to control. The globalist George Soros for instance has lately been denying all signs of collapse, and making claims countries like Greece, Dubai, and the UK, have nothing to worry about.

What we are witnessing today is perhaps the greatest faux recovery in the history of the world. There is a reason why there is so much conflicting evidence. There is a reason why many economists are confused as to where the economy is going; because some of the evidence is based in fact, while the rest is designed to deceive. Learning and standing by economic fundamentals can help one in discerning what rings true and what does not. The fundamentals cannot be changed, they can only be hidden. Stick with the foundations of the system, ignore the fluff, the fog and shadows media game, and you will never be caught unaware when disaster strikes.

by Alfred Wang

Lieberman: Yemen will be 'tomorrow's war' if pre-emptive action not taken

Sen. Joe Lieberman (I-Conn.) Sunday said that Yemen could be the ground of America's next overseas war if Washington does not take preemptive action to root out al-Qaeda interests there.

Lieberman, who helms the Senate Homeland Security and Governmental Affairs Committee, said on "Fox News Sunday" that the U.S. will have to take an active approach in Yemen after multiple recent terrorist attacks on the U.S. were linked back to the Middle Eastern nation.

The Connecticut senator said that an administration official told him that "Iraq was yesterday's war, Afghanistan is today's war. If we don't act preemptively, Yemen will be tomorrow's war."

Lieberman, who is known to be hawkish on security issues, said that Yemen needs to be a focal point because two recent attacks were linked back to a growing al-Qaeda presence there.

Maj. Nidal Malik Hasan -- the Army officer who killed 13 people in a shooting rampage at Fort Hood in November -- was linked to Anwar al-Awlaki, a radical Muslim cleric now based in Yemen.

The senator said that Umar Farouk Abdulmutallab, the 23-year-old Nigerian accused of attempting to set off a plastic-explosive device aboard a Northwest Airlines flight from Amsterdam to Detroit on Friday, "reached out to Yemen" but was "not sure" if he contacted al-Awlaki. Abdulmutallab reportedly told authorities he traveled to Yemen and met al-Qaida figures there.

The U.S. earlier this month launched cruise missiles at two al-Qaeda targets in Yemen. The attacks represented a major escalation of U.S. efforts against al-Qaeda in Yemen.

Sen. Arlen Specter (D-Pa.), also on Fox, agreed that preemptive strikes should be "one [option] we ought to be considering" but added that "it's a big, complex subject."

Concerns about Yemen as a breeding ground for extremists have quickly grown since Christmas Day, when Abdulmutallab attempted his attack but was foiled by passengers and crew.

Lieberman praised the Obama administration for reaching out to the government in Yemen about extremism there. But he said that the administration should not release the 90 Yemenis now being held at the military prison at Guantanamo Bay, Cuba.

The White House is attempting to close down the base by releasing some detainees and eventually transferring others to a facility in Illinois.

Lieberman also keyed in on internal improvements on security watch lists, saying the government should cast its net wider in order to stop potential terrorists from boarding planes.

"We have to be able to, in our age, put 500,000 names on a computer and have everyone that's trying to come to the U.S. go through that list," he said. "That doesn't mean they're convicted of any wrongdoing, but it would be basis enough to take this guy out of the line in Amsterdam and do a full body check."

By Jordan Fabian

A Foolish Old Man?

When young, I read "Marriage and Morals", a book dealing with a subject of considerable interest to persons of my age at the time. Its 1929 author, Bertrand Russell, was years ahead of his times. A decade after the publication of that book, Russell, whom many consider to be the foremost philosopher of my generation, accepted an offer from The City College of New York to teach in America. When guardians of our public morals discovered that Russell was the author of "Marriage and Morals", the court ordered the termination of his academic position at CCNY. He returned to England.

Bertrand Russell became a hero to many of us during horrors orchestrated by a few in our government during what has come to be known as the Vietnam era. Russell wrote and spoke his objection to the American government's Vietnam policy. He strove for peace and for the accountability of war criminals in our government. Over ensuing decades, a majority of sentient Americans have come to embrace views which he then held. Bertrand Russell, by then an old man, was again years ahead of his times.

I was relatively young when I joined even younger men and women in protesting that Vietnam disaster. I will always remember the comment of one of my older business friends. He referred to Bertrand Russell as "that foolish old man".

I, who love a good book, classical music, interesting conversation, attractive young women, green tea, and a peaceful life, today tend to consider myself an unlikely political activist. I am reminded, however, when recalling Bertrand Russell, that one is never too old.

This past week, on the day before Christmas, I launched a new website with the goal of starting a local group affiliated with the NY grassroots social activist organization known as "We Are Change". Perhaps, this is a foolish venture. It has given me an opportunity to write this blog, however, and to repeat here a bit of what is written on that site:

"What is happening here in South Florida is happening all across America. Older persons who planned and looked forward to secure and peaceful retirements have seen pensions, savings accounts, and incomes sharply reduced. Their futures and those of their children and grandchildren seem increasingly bleak.

"Working Americans, who depend upon steady paychecks to meet living expenses for themselves and their families have been hit hard. Unemployment eventually spells disaster for them. Rising living costs, uninsured medical expenses, and temporary layoffs have swelled the ranks of families dependent upon social welfare.

"Those still employed have a huge bulk of their earnings confiscated in the form of 'income taxes' and retain barely enough to support their families. Having nothing left to spare, they are financially unable to help less fortunate neighbors.

"The social 'safety net' for Americans is breaking as financial programs, states, cities, and more and more people approach financial bankruptcy. Social service agencies, churches, and private charities are stretched very thin.

"Money taken from Americans together with huge sums created through inflating the nation's money supply is spent on wars waged after bullying public support through scare tactics accompanied by government issued propaganda that later proves to have been blatant lies.

"American armed forces, instead of being used for the nation's defense, are employed to protect and to further financial interests of a wealthy few, bankers and multi-national corporations. Young Americans die or are critically injured in this charade. Surviving veterans return home to little in the way of opportunity. Largely overlooked, many become part of our nation's huge and growing homeless population.

"Misinformation continues to be spread by mainline media which now speaks incessantly of foreign countries, tribesmen, terrorists, trivia, and celebrities instead of addressing critical issues facing the lives of Americans, our reputation as citizens of a responsible nation, and critical issues faced within our own communities.

"Such problems have not been created by you and by me. They are the result of policies arrogantly and unlawfully implemented by only a very few. A handful of men and women, raised in and belonging to a privileged minority, now control the reins of a government that has now fully discarded Constitutional precepts upon which America was founded.

"These few pursue a policy of aggressive warfare and of world conquest for the purpose of militarily and financially subjugating humanity worldwide. Their goal is to gain full access to the entire resources on this planet and to control existing governments. Rationalizing such a policy by invoking a vision of world peace through their own one-world government, what Bilderbergers now define openly as a "new world order", is the height of hubris and personal hypocrisy. It is simply the ages old lust of a few for ultimate power, a natural failing understood by the founders of our country.

"Wielding unbridled power, with the conviction that they alone have the intelligence and the vision required to lead and to control mankind, they have foolishly 'killed the goose that laid the golden egg' in the United States. They are today creating havoc, both here and abroad.

"We are not fomenting violent revolution. It is our goal to inform and to recommend ways in which We the People of this nation, under our Constitution, and given more than two-hundred years of experience, can begin to solve these problems before they overwhelm us completely.

"If we wish to do this peacefully and intelligently we need your involvement. We are Change, right here in this community, can join hundreds of other chapters along with a number of like-minded groups. By forming a huge coalition, overlooking differences and focusing on areas in which we agree, we intend to do this job democratically. We need your support and cooperation. Please join us now."

I am curious to see how many, if any, of my neighbors here in this quadrant of The Sunshine State express an interest. I am far from equating myself with Bertand Russell, that brilliant man whose books and activites made such an impression on my own thoughts.

In "Thus Spake Zarathustra", Neitzche wrote, Not around the creators of new noise doth the world revolve, but about the creators of new values. Silently doth it revolve..

A New Year is fast approaching in which I plan to celebrate my seventy-seventh birthday. Written words may have power eventually. With this knowledge, in increasing numbers, we internet bloggers in the USA continue in courage and hope. I am aware that even friends and a few business associates will refer to me, hopefully with some fondness, as "that foolish old man."

Arrow Trucking suspends operations, lays off

TULSA, Okla. (AP) - The future is unclear for Tulsa-based Arrow Trucking after the trucking company suspended operations and laid off employees.

The move Tuesday left numerous drivers stranded around the country as the company also canceled fuel credit cards.

Arrow CEO Doug Pielsticker issued a brief statement Tuesday night saying the company is negotiating with its principal lender and that the unidentified lender wants to secure its collateral.

One Arrow lender is Daimler Financial Services - which owns the company's Freightliner trucks. Callers to Arrow's Tulsa office received a message telling drivers to take their trucks to the nearest Freightliner shop and that Daimler would arrange for a bus ticket home.

A Daimler spokesman says the company is offering stranded drivers a bus ticket home or $200 in cash.

Senator Majority Leader Harry Reid: Taxes are Voluntary in America

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Mortal motor city: Detroit on the edge

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We're Screwed! founder John Williams explains the risk of hyperinflation. Worst-case scenario? Rioting in the streets and devolution to a bartering system.

Do you believe everything the government tells you? Economist and statistician John Williams sure doesn't. Williams, who has consulted for individuals and Fortune 500 companies, now uncovers the truth behind the U.S. government's economic numbers on his Web site at Williams says, over the last several decades, the feds have been infusing their data with optimistic biases to make the economy seem far rosier than it really is. His site reruns the numbers using the original methodology. What he found was not good.

Maymin: So we are technically bankrupt?

Williams: Yes, and when countries are in that state, what they usually do is rev up the printing presses and print the money they need to meet their obligations. And that creates inflation, hyperinflation, and makes the currency worthless.

Obama says America will go bankrupt if Congress doesn't pass the health care bill.

Well, it's going to go bankrupt if they do pass the health care bill, too, but at least he's thinking about it. He talks about it publicly, which is one thing prior administrations refused to do. Give him credit for that. But what he's setting up with this health care system will just accelerate the process.

Where are we right now?

In terms of the GDP, we are about halfway to depression level. If you look at retail sales, industrial production, we are already well into depressionary. If you look at things such as the housing industry, the new orders for durable goods we are in Great Depression territory. If we have hyperinflation, which I see coming not too far down the road, that would be so disruptive to our system that it would result in the cessation of many levels of normal economic commerce, and that would throw us into a great depression, and one worse than was seen in the 1930s.

What kind of hyperinflation are we talking about?

I am talking something like you saw with the Weimar Republic of the 1930s. There the currency became worthless enough that people used it actually as toilet paper or wallpaper. You could go to a fine restaurant and have an expensive dinner and order an expensive bottle of wine. The next morning that empty bottle of wine is worth more as scrap glass than it had been the night before filled with expensive wine.

We just saw an extreme example in Zimbabwe. ... Probably the most extreme hyperinflation that anyone has ever seen. At the same time, you still had a functioning, albeit troubled, Zimbabwe economy. How could that be? They had a workable backup system of a black market in U.S. dollars. We don't have a backup system of anything. Our system, with its heavy dependence on electronic currency, in a hyperinflation would not do well. It would probably cease to function very quickly. You could have disruptions in supply chains to food stores. The economy would devolve into something like a barter system until they came up with a replacement global currency.

What can we do to avoid hyperinflation? What if we just shut down the Fed or something like that?

We can't. The actions have already been taken to put us in it. It's beyond control. The government does put out financial statements usually in December using generally accepted accounting principles, where unfunded liabilities like Medicare and Social Security are included in the same way as corporations account for their employee pension liabilities. And in 2008, for example, the one-year deficit was $5.1 trillion dollars. And that's instead of the $450 billion, plus or minus, that was officially reported.


These numbers are beyond containment. Even the 2008 numbers, you can take 100 percent of people's income and corporate profit and you'd still be in deficit. There's no way you can raise enough money in taxes.

What about spending?

If you eliminated all federal expenditures except for Medicare and Social Security, you'd still be in deficit. You have to slash Social Security and Medicare. But I don't see any political will to rein in the costs the way they have to be reined in. There's just no way it can be contained. The total federal debt and net present value of the unfunded liabilities right now totals about $75 trillion. That's five times the level of GDP.

What can we, the people, do to stop the government from, you know, taking all our money?

We should have acted 20 years ago. There's not much you can do at this point to prevent the eventual debasement of the dollar. This involves both sides of the political spectrum. It's not limited to the Republicans or the Democrats. They've both been very active in setting this up.

What can individuals do?

The only thing individuals can do now is look to protect themselves. I wish I could see a way, but shy of severe slashing of the social programs that is so politically reprehensible and would create such problems and social unrest, I don't see that as a practical solution.

If you're a young 20- or 25-year-old guy or gal, would you move to another country? What would you do?

We still have a great country. We're going through a period of economic pain. It's happened before. This is the kind of thing that's taken us decades to get into and it will take us decades to get out. Although the hyperinflation is going to be limited largely to the U.S., the economic downturn will affect things globally. I can't tell you how things will go with a hyperinflationary Great Depression, which is where I see things going.

It's the type of thing that will tend to lead to significant political change. People tend to vote their pocketbooks. You could have the rise of a third party. You could even have rioting in the streets. I'm not formally predicting that — anyone can run these different scenarios. For the individual, what you need to do, from an investment standpoint, look to preserve your wealth and assets. Don't worry about the day-to-day fluctuations in the markets. What I'm talking about here is over the long haul...

[Gold is] going to be highly volatile, as will the dollar, over the near term, but longer term, physical gold I would look at as a primary hedge for preserving the purchasing power of your wealth and assets. Maybe some physical silver. Get some assets outside the U.S. dollar. I might even look to move some assets physically outside the United States. The key here is to look at a longer range survival package, battening down the hatches, and preserving your wealth and assets during a very difficult time. Once you're through that, you'll have some extraordinary investment opportunities, and I can't tell you what it's going to be like on the other side of this crisis.

Dr. Phil Maymin is an Assistant Professor of Finance and Risk Engineering at NYU-Polytechnic Institute. The views represented are his own.

29% of Americans say religion ‘out of date’

A Gallup poll of Americans' attitudes towards religion released on Christmas Eve found significant recent increases in those responding either that they have no religious preference, that religion is not very important in their lives, or that they believe religion "is largely old-fashioned or out of date."

Only 78% of Americans now identify as Christian, while 22% describe their religious preference as either "other" or "none."

Most of these changes have occurred since 2000 and represent the first significant shift since a sharp decline in religious adherence during the 1970s. Over the last nine years, the number with no religious preference has grown from a level of around 8% to 13%. The number for whom religion is not very important has climbed from just over 10% to 19%. And the number who believe religion is out of date and has no answers for today's problems has jumped from slightly more than 20% to 29%.

These changes do not appear to have affected the majority of Americans who still consider religion "very important" in their own lives. That figure remains at 56% -- roughly the same as for the last 35 years -- while 57% still say religion has answers to most of the world's problems.

The biggest difference is that in the late 1990s, up to 68% of Americans though religion had answers to the world's problems -- even though only about 60% said religion was personally very important to them. It seems as though over the last ten years a significant number may have gone from believing that religion is a positive factor in the world, even if they're not particularly religious themselves, to seeing religion in a far more skeptical or even negative light.

Even as the US economy recovers, a decade of joblessness and flat wages could lie ahead

WASHINGTON — The decade ahead could be a brutal one for America's unemployed - and for people with jobs hoping for pay raises.

At best, it could take until the middle of the decade for the nation to generate enough jobs to drive down the unemployment rate to a normal 5 or 6 per cent and keep it there. At worst, that won't happen until much later - perhaps not until the next decade.

The deepest and most enduring recession since the 1930s has battered America's work force.

The unemployed number 15.4 million. The jobless rate is 10 per cent. More than 7 million jobs have vanished. People out of work at least six months number a record 5.9 million. And household income, adjusted for inflation, has shrunk in the past decade.

Most economists say it could take at least until 2015 for the unemployment rate to drop down to a historically more normal 5.5 per cent. And with the job market likely to stay weak, some also foresee another decade of wage stagnation.

Even though the economy will likely keep growing, the pace is expected to be plodding. That will make employers reluctant to hire. Further contributing to high unemployment is the likelihood of more people competing for jobs, baby boomers delaying retirement and interest rates edging higher.

All this would come after a decade that created relatively few jobs: a net total of just 464,000. By contrast, 21.7 million new jobs were generated between 1989 and 1999.

Economist David Levy, chairman of the Jerome Levy Forecasting Center, says the country faces a new era of chronically high unemployment, averaging 8 per cent or more over the next decade.

The "New Abnormal," he calls it.

Levy thinks the New Abnormal also means average pay will dwindle, along with consumer prices. That would make it harder for households to pay down debt, he warns.

By the Federal Reserve's reckoning, the jobless rate could remain as high as 7.6 per cent in 2012. And it would take two or three years after that for the job market to return to normal, the Fed says.

It's possible jobs won't return to pre-recession levels at any point over the next 10 years, Levy says.

That's mainly because the economy's recovery, sluggish by historical standards, isn't expected to regain its vigour over the next few years. As a result, companies will be in no rush to ramp up hiring.

Other analysts think the economy will recover the jobs wiped out by the recession by 2013 or 2014 but that the unemployment rate will stay high. They note that the healing economy will cause more people to stream back into the labour force, vying for too-few jobs.

In addition, baby boomers whose retirement accounts have shrunk could put off retiring and stay in the work force longer. That would leave fewer positions available for the unemployed.

Other contributing forces - businesses squeezing more work from employees they still have and relying more on part-time and overseas help - have intensified. And record-high federal budget deficits and the threat of inflation could drive up interest rates, which could hobble growth and restrict job creation.

All those factors could combine to keep unemployment high.

"It will be the mother of all jobless recoveries," predicts economic historian John Steel Gordon.

On the other hand, it's possible some technological innovation not yet envisioned could generate a wave of jobs. Yet at the moment, most economists aren't betting that any such breakthroughs will rescue the labour market.

The last time the jobless rate reached double digits, in the early 1980s, it took six years to bring it down to normal levels.

Unemployment hit a post-World War II high of 10.8 per cent at the end of 1982 as the country was emerging from a severe recession. The rate fell to around 5 per cent in 1988. It took less than two years for the number of jobs to return to its pre-recession level.

In this recovery, the economy is far more fragile.

Hard-to-get credit is exerting a drag. Wounds from the banking system's worst crisis since the Great Depression of the 1930s will take years to fully heal. People and companies, scarred by the crisis, are likely to restrain borrowing, spending and investing.

Some analysts think the jobless rate might have already peaked at 10.2 per cent in October. But most economists predict the rate will peak at around 10.5 per cent by the middle of next year.

"We are digging out of a very deep hole," says Lynn Reaser, chief economist at Point Loma Nazarene University in San Diego and chief economist for the National Association for Business Economics.

Reaser estimates it will take until 2015 for the unemployment rate to drop to 5.5 per cent.

A sputtering job market carries other consequences. One is flat wages. When many people compete for few jobs, employers have no incentive to raise pay.

The economic shocks of the past decade already have cut into Americans' incomes. That's among the reasons why people feel they're standing still economically.

Median household income, adjusted for inflation, fell to $50,303 in 2008, according to the U.S. Census. That gauge combines wages and salaries, investment income and government benefit payments like Social Security. It's down 4 per cent from a peak of $52,587 in 1999, when incomes were bolstered by stock gains from the dot-com boom.

That bubble burst in 2000. Since then, workers have seen meagre wage gains. Adjusted for inflation, wages grew about 13 per cent in the past 10 years - the slowest pace in five decades, according to calculations made by Scott Hoyt of Moody's

That trend is predicted to continue.

"There will be a continued hollowing-out of the middle class," says H.W. Brands, a historian at the University of Texas.

He points to productivity growth, which has let companies produce more with leaner work forces, the offshoring of service-sector jobs and the shrinking of factory jobs.

That's why Vicki Adriano, 51, who works at a General Motors plant in Lordstown, Ohio, looks ahead to the coming decade with trepidation.

The economic wreckage of the past year means she'll probably have to work longer than she had expected at the factory-at least seven more years. She frets about the loss of economic security.

"Everything you worked for all those years can be gone in a minute," she says.

Confirmed? "Sharp dressemd man" aided Northwest flight "Christmas Bomber" Umar Mutallab onto plane without passport. Who was involved, why ......

Metro Detroit Live

haskell pass.jpg
Kurt Haskell's boarding pass for NWA Flight 253
A Michigan man who was aboard Northwest Airlines Flight 253 says he witnessed Umar Farouk Abdul Mutallab trying to board the plane in Amsterdam without a passport.
Kurt Haskell of Newport, Mich., who posted an earlier comment about his experience, talked exclusively with and confirmed he was on the flight by sending a picture of his boarding pass. He and his wife, Lori, were returning from a safari in Uganda when they boarded the NWA flight on Friday.
Lori Kurt Haskell.jpg
Lori and Kurt Haskell
Haskell said he and his wife were sitting on the ground near their boarding gate in Amsterdam, which is when they saw Mutallab approach the gate with an unidentified man.
Kurt and Lori Haskell are attorneys with Haskell Law Firm in Taylor. Their expertise includes bankruptcy, family law and estate planning.
While Mutallab was poorly dressed, his friend was dressed in an expensive suit, Haskell said. He says the suited man asked ticket agents whether Mutallab could board without a passport. “The guy said, 'He's from Sudan and we do this all the time.'”
Mutallab is Nigerian. Haskell believes the man may have been trying to garner sympathy for Mutallab's lack of documents by portraying him as a Sudanese refugee.
The ticket agent referred Mutallab and his companion to her manager down the hall, and Haskell didn't see Mutallab again until after he allegedly tried to detonate an explosive on the plane.
Haskell said the flight was mostly unremarkable. That was until he heard a flight attendant say she smelled smoke, just after the pilot announced the plane would land in Detroit in 10 minutes. Haskell got out of his seat to view the brewing commotion.
“I stood up and walked a couple feet ahead to get a closer look, and that's when I saw the flames,” said Haskell, who sat about seven rows behind Mutallab. “It started to spread pretty quickly. It went up the wall, all the way to ceiling.”
Haskell, who described Mutallab as a diminutive man who looks like a teenager, said about 30 seconds passed between the first mention of smoke and when Mutallab was subdued by fellow passengers.
“He didn't fight back at all. This wasn't a big skirmish,” Haskell said. “A couple guys jumped on him and hauled him away.”
The ordeal has Haskell and his wife a little shaken. Flight attendants were screaming during the fire and the pilot sounded notably nervous when bringing the plane in for a landing, he said.
“Immediately, the pilot came on and said two words: emergency landing,” Haskell said. “And that was it. The plane sped up instead of slowing down. You could tell he floored it.”
As Mutallab was being led out of the plane in handcuffs, Haskell said he realized that was the same man he saw trying to board the plane in Amsterdam.
Passengers had to wait about 20 minutes before they were allowed to exit the plane. Haskell said he and other passengers waited about six hours to be interviewed by the FBI.
About an hour after landing, Haskell said he saw another man being taken into custody. But a spokeswoman from the FBI in Detroit said Mutallab was the only person taken into custody.

Medical Experiments On American Soldiers

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Legal Abuse Syndrome

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pt 1/3 "Hold gold & silver coins for protection" David Tice on KWN

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Northwest Bomb Plot 'Oddities'

In 2008, the ACLU estimated the US 'No Fly List' to have grown to over 1,000,000 names -- heck, even Cat Stevens and the late Senator Ted Kennedy were on it -- and it continues to expand. But, suspected terrorist Abdul Farouk Abdulmutallab, who was curiously able to obtain military-grade high explosives --80 grams of PETN (Gee, where'd he get that?) -- managed to escape airport security and detonate his underwear bomb!

In April 2009, American authorities reportedly refused an Air France flight from Paris to Mexico entry into US airspace because a left-wing journalist writing a book on the CIA was on board. Hernando Calvo Ospina, who works for Le Monde Diplomatique and has written on revolutionary movements in Cuba and Colombia, figured on the US authorities' 'no-fly list.' Air France said the April 18 flight was forced to divert to the French Caribbean island of Martinique before continuing its journey (

Got it? Write a book critical of the CIA -- you cannot fly. Carry explosives (allegedly from Yemen) on board when the US is trolling for an excuse to invade and occupy Yemen for its oil -- yes you can! The US needs false flags to provide cover for illegal invasions and occupations. The 9/11 terrorist attacks (aka inside job, six ways to Sunday) worked well for the US government; the security-industrial complex made billions and US corporaterrorists were able to negotiate the wholesale theft of Iraq's oil.

According to CNN, the terror suspect's father tried to warn authorities. CNN reported: The father of a man suspected in a botched terror attack aboard a Northwest Airlines flight contacted the U.S. Embassy in Nigeria recently with concerns his son was planning something, a senior U.S. administration official said Saturday. The father -- identified by a family source as Umaru Abdul Mutallab -- contacted the U.S. Embassy "a few weeks ago" saying his son, Umar Farouk Abdulmutallab, had "become radicalized," the senior administration official, who is familiar with the case, told CNN.

And yet, Abdulmutallab was not obliged to undergo any additional airport screening layers, prior to boarding the last leg of his journey to Detroit.

Abdulmutallab was thwarted by a quote, unquote vacationing movie producer, Jasper Schuringa, who, within seconds, asserted that he not only tackled the suspect and put him in a headlock but also tried 'to search his body for any explosives' (CNN). Unless one was a bona-fide law enforcement professional or a military agent, who on earth would think of searching a man who had set himself on fire in a matter of seconds, for more explosives?

The goal is Yemeni oil. Hence the reason for the destabilization and the purported need for the US to stop al-Qaeda (literally, 'the database'). The Yemeni national security chief has declared that the country is receiving assistance from the US in the crackdown on what he called 'al-Qaeda operatives' in southern Yemen (Press TV). Translation: US corporaterrorists want Yemeni oil and they want it NOW.

Investigators: Northwest Bomb Plot Planned by al-Qaeda in Yemen --Officials Say Bomb Materials Sewn Into Suspect's Underwear by Top Terror Bomb Maker 26 Dec 2009 The plot to blow up an American passenger jet over Detroit was organized and launched by al-Qaeda [al-CIAduh] leaders in Yemen who apparently sewed bomb materials into the suspect's underwear before sending him on his mission, federal authorities tell ABC News. Investigators say the suspect had more than 80 grams of PETN, a compound related to nitro-glycerin used by the military. The so-called shoe bomber, Richard Reid, had only about 50 grams kin his failed attempt in 2001 to blow up a U.S.-bound jet.

Source: Terror suspect's father tried to warn authorities 27 Dec 2009 The father of a man suspected in a botched terror attack aboard a Northwest Airlines flight contacted the U.S. Embassy in Nigeria recently with concerns his son was planning something, a senior U.S. administration official said Saturday. The father -- identified by a family source as Umaru Abdul Mutallab -- contacted the U.S. Embassy "a few weeks ago" saying his son, Umar Farouk Abdulmutallab, had "become radicalized," the senior administration official, who is familiar with the case, told CNN. Abdulmutallab, 23, was charged in a federal criminal complaint Saturday with attempting to destroy the plane Friday on its final approach to Michigan's Detroit Metropolitan Airport, and placing a destructive device on the aircraft, the Department of Justice said.

Father alerted US about Nigerian plane bomb suspect 27 Dec 2009 The father of a Nigerian man charged with trying to blow up a transatlantic jet on Christmas Day had voiced concerns to US officials about his son. The father, a top Nigerian banker, warned US authorities last month about Umar Farouk Abdulmutallab's extreme views, say officials. US sources confirm a file was opened, but say the information did not warrant placing the accused on a "no-fly" list.

Airline bomber was barred from Britain --Man who allegedly attempted to blow up US jet had UK visa request refused in May 27 Dec 2009 The son of a prominent Nigerian banker, who allegedly attempted to blow up a transatlantic flight over America, was barred from returning to Britain earlier this year. Umar Farouk Abdulmutallab, 23, graduated from a university in London last year but his visa request was refused in May when he attempted to apply for a new course at a bogus college. Abdulmutallab, described as a devout Muslim, attempted to ignite an explosive device on a plane from Amsterdam to Detroit on Christmas Day after shouting about Afghanistan.

Uclear If Suspect's Name Was On Terrorist Identities Datamart Environment List --The list, maintained by United States National Counterterrorism Center, includes about 550,000 names 27 Dec 2009 The Nigerian man accused of trying to ignite an incendiary device aboard a trans-Atlantic jetliner on Friday came to the attention of American officials at least "several weeks ago," but the initial information was not specific enough to raise alarms that he could potentially carry out a terrorist attack, a senior Obama administration official said on Saturday... It was unclear whether Mr. Abdulmutallab’s name was entered into the Terrorist Identities Datamart Environment list, which includes people with known or suspected contact or ties to a terrorist or terrorist organization. Those people, however, are not necessarily placed on the federal government’s so-called no-fly list, which prohibits persons entering the United States because of known or suspected [or imagined] terrorists links. Mr. Abdulmutallab was not on that list, federal officials say.

US authorites divert Air France flight carrying 'no-fly' journalist to Mexico --American authorities reportedly refused an Air France flight from Paris to Mexico entry into US airspace because a left-wing journalist writing a book on the CIA was on board. 29 Apr 2009 Hernando Calvo Ospina, who works for Le Monde Diplomatique and has written on revolutionary movements in Cuba and Colombia , figured on the US authorities' "no-fly list". Air France said the April 18 flight was forced to divert to the French Caribbean island of Martinique before continuing its journey and that it might ask the US Transportation Security Administration for compensation. A spokesman for Mr Ospina's French publisher, Le Temps des Cerises, said: "Hernando, who was heading to Nicaragua to research a report, thus found out that he is on a 'no-fly list' that bans a number of people from flying to or even over the United States." Some 50,000 people are said to be on the list set up under George W. Bush, the former US president [sic]. The publisher accused the Central Intelligence Agency of being behind Mr Ospina's blacklisting, pointing out that the journalist was currently researching a book about the spy agency. "It shows to what degree its paranoia (has reached)," it said.

'I was trying to search his body for any explosives.' Passenger says he helped thwart terror attack 27 Dec 2009 Passenger Jasper Schuringa told CNN that with the aid of the cabin crew, he helped subdue and isolate Umar Farouk Abdulmutallab, who was charged Saturday with trying to destroy a plane. Schuringa of Amsterdam, Netherlands, said he was traveling to Florida to visit friends. The journey aboard Northwest Airlines Flight 253 had been mundane, he said. But as the plane neared its destination of Detroit, Michigan, he heard a pop that sounded like a firecracker going off, and someone started yelling: "Fire! Fire!" Then, there was smoke. "Around 30 seconds later the smoke started to fill up on the left side beneath this person," he said. That's when Schuringa said he knew something was wrong. "I basically reacted directly. I didn't think. When you hear a pop on the plane you're awake, trust me," Schuringa said. When he noticed that Abdulmutallab was not moving, he grew suspicious. "I was on the right side of the plane and the suspect was on the left side, there were quite some seats in between." He jumped over the passenger next to him and lunged over Abdulmutallab's seat, "Because I was thinking he's trying to blow up the plane, and I was trying to search his body for any explosives."

Airports intensify security measures worldwide in wake of failed bomb attack aboard U.S.-bound jetliner --Terror suspect charged in jetliner bomb plot 26 Dec 2009 Federal authorities have charged Abdul Farouk Abdulmutallab, of Nigeria, with attempting to destroy Northwest flight 253 with a "destructive device" as it descended into Detroit on Christmas Day. In a case of attempted terrorism that has sparked a worldwide intensification of security at airports, U.S. officials said Saturday afternoon that a preliminary FBI analysis found a bomb-making chemical called PETN in the device Abdulmutallab tried to detonate. The affidavit, filed in the Eastern District of Michigan, also said FBI agents discovered the remnant of a syringe near the suspect's seat, part of what the agents believe was part of the explosive device.

US bombs Sa'ada governor's house, Houthis say 27 Dec 2009 A US fighter jet has carried out multiple airstrikes on the home of a senior official in Yemen's northern rugged province of Sa'ada, Houthi fighters say. The Yemen-based Houthi fighters say the warplane struck the home owned by the governor of Sa'ada province, Hassan Mohammad Manna in five blitzes. There were no reports on possible casualties in the attacks.

Yemen confirms receiving US military support 27 Dec 2009 The Yemeni national security chief has declared that the country is receiving assistance from the US in the crackdown on what he called 'al-Qaeda operatives' in southern Yemen. Mohamed al-Anisi has told the Saudi Arabian newspaper Okaz that Yemeni forces were cooperating with the US military on attacks against al-Qaeda camps, DPA reported on Saturday. Yemen's confirmation comes as an ABC report revealed that US President Barack Obama had signed the order for a recent military strike on Yemen in which scores of civilians, including children, were killed.

Yemen oil min- oil majors mull investments-paper 21 Feb 2009 Yemen has received investment offers from oil majors including Exxon Mobil Corp and Total, Oil Minister Amir al-Aidarous said in remarks published on Saturday. Yemen's Ministry for Oil and Mineral Resources has received eight oil investment bids from international companies, pan-Arab daily al-Hayat quoted Aidarous as saying, four of which were from oil majors seeking direct negotiations with Yemen. The companies include Exxon Mobil, Total, and BP, the minister said, but did not elaborate on the nature of the investments. Other companies that made bids included Austrian oil and gas group OMV, Nexen, and Occidental, he said.

Police lose battle over evidence of 'British 9/11' plot --Scotland Yard must reveal whether it had CIA intelligence 26 Dec 2009 Scotland Yard has been ordered to reveal whether it has any evidence to support America’s claim that Britain was saved from a 9/11-style disaster by the CIA’s secret foreign interrogation centres. The Times has won a case under the Freedom of Information Act forcing British police to say whether the US stopped a plot to fly planes into Canary Wharf and Heathrow. The claim was made by President [sic] Bush when he first acknowledged the existence of a clandestine CIA prison network created to fight his War on of Terror. Scotland Yard has been given 35 days to comply or appeal. If it admits that there is no such intelligence, it would undermine any political defence for America’s strong-arm tactics in fighting terrorism.