Great Depression

The Fed Has Brought Back "Taxation Without Representation"

So, Wall Street banks control the boards of directors at the Fed banks. The Fed bank boards of directors appoint the committee members who set monetary policy. And the monetary policy they set ends up being a gigantic tax... a transfer of wealth from the middle class to a tiny group of beneficiaries, including the US government and the banks themselves. This is an unbelievable scam... and it truly is taxation without representation. Unelected bureaucrats impose their will over the entire financial system in a way that benefits a handful of people at the expense of everyone else.

QE: The Good, Bad And Ugly (Or, Why War Is Coming)

"The ugly part comes in when thinking about how to exit QE, if at all. Unfortunately I can't help but think of how the Great Depression ended: it was a boost of fiscal spending, all right: the financing of a war... note that increasing military expenditures in the name of national defense may be more easily passed through the legislature in countries without strong majorities than infrastructure spending. Add to that a rise in populist politicians throughout the world, and we have a mix that suggests to me history may well repeat to those unwilling to learn from it."

Rant-Of-The-Day: The Low Interest-Rate Fallacy

“While valuations may be high compared to historical averages, low interest rates justify those valuations.” - Oft-Repeated blather on Twitter. Let me warn you now this will not end well.

How Wall Street Is Strangling The Economy

The “financialization of America” - the trend by which finance and its way of thinking have come to reign supreme - is perpetuating Wall Street’s reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream...

Paul Craig Roberts: "Fellow Americans, Wake Up & Escape The Matrix"

Fellow Americans, if you care to avoid vaporization and, assuming we do avoid it, live a life other than serfdom, you must wake up and realize that your most deadly enemy is Washington, not the hoax of “Russian aggression,” not the hoax of “Muslim terrorism,” not the hoax of “domestic extremism,” not the hoax of welfare bankrupting America, not the hoax of democracy voting away your wealth, which Wall Street and the corporations have already stolen and stuck in their pockets. If you cannot wake up and escape The Matrix, your doom will bring the doom of the planet.

Despite "The Biggest F##king Bailout Ever" This Analyst Says S&P Will Drop 80%

"I can't tell you how long it's going to take but I'm anticipating an 80% drop or 70% drop, something in that neighborhood. Tobin's Q got down to 0.54 in 2009...The reason it didn't go lower is because we had the biggest fucking bailout ever orchestrated in the history of the banking system..."

Deutsche Bank's Shocking ECB Rant: Warns Of Social Unrest And Another Great Depression

"In the 1920s the Reichsbank thought it could have 2,000 printing presses running day and night to finance government spending without creating inflation. Around the same time the Federal Reserve allowed more than a third of US deposits to be destroyed via bank failures, in the belief that banking crises where self-correcting. The Great Depression followed.... Today the behaviour of the European Central Bank suggests that it too has gone awry."

The Federal Reserve's Strange Behavior Makes Perfect Sense

If you think the Federal Reserve’s goal is to maintain or repair the U.S. economy, then you will never understand why they do the things they do or why the economy evolves the way that it does. The Fed’s job is not to protect the U.S. economy. The Fed’s job is to DESTROY the U.S. economy to make way for a truly global system.

"You Are Here"

We are in the midst of a Greater Depression, with the most trying times still ahead. Fourth Turnings never de-intensify. They intensify into a chaotic whirlwind, where the future of our civilization hangs in the balance. The climax of this play is a long way off. The election of Trump in November will trigger the transformational change that always happens during a Fourth Turning. An ill wind is beginning to blow. You can’t avoid the coming storm, but you can mentally and physically prepare. Our choices will make a difference.

Get To College, Get A Job, Get Poorer: Students Are Worse Off After Attending For-Profit Colleges

A new study by the NBER finds that in fact, students who left for-profit schools during the 2006-2008 timeframe were worse off after attending. A key factor, as the WSJ reports, is that most of these students never earned a degree, they dropped out. Making matters worse, and certainly contributing to the fact that over 40% of student borrowers don't make payments, is the fact that these students borrowed to attend the colleges.