Saturday, November 17, 2007

Do Not Be Discouraged Amidst Bad News

Do Not Be Discouraged Amidst Bad News

“Bond yields tumbled as US annual inflation reached a 14-month high and signs of trouble in the economy mounted. The cost of living increased 3.5 per cent compared to a year ago after consumer prices rose another 0.3 per cent last month, driven by higher fuel costs, according to official figures. The big jump in prices underlines the Federal Reserve’s concern that inflation could pick up pace and make it more risky to continue cutting interest rates to keep the threat of a recession at bay. US stocks fell and the yield on benchmark 10-year US Treasury bonds dropped 2 basis points to 4.23 per cent as investors priced in less likelihood of rate cuts despite fresh signs of a weakening job market.” US inflation reaches 14-month high By Eoin Callan and Krishna Guha in Washington Published: November 15 2007 15:55 | Last updated: November 15 2007 15:55 http://www.ft.com/cms/s/0/583aa7e2-938f-11dc-a884-0000779fd2ac.html

The US mind control apparatus serves primarily as stenographers and cheerleaders for the ruling elites, their puppets in government and propagandists for their disastrous policies. They will not tell us the truth, but the current economic situation in AmeriKKKa is very similar to the implosion which occurred in 1929: stagnant worker wages, dangerous stock market speculation and wild fluctuations in the stock market, vast income disparities between the rich and poor, overvalued (artificially jacked up) stock prices and real estate speculation (only this time it is a combination of jacked up stocks and real estate speculation) and the futile intervention policies of the Fed and certain major investment and equity bankers to prevent panic by raising interest rates (in our current situation the Fed lowered rates thus exacerbating the problem irresponsibly low interest rates the Fed caused in the first place) and buying up certain stocks to make the suckers think the market scam is legit and on solid ground. In 2007 the Plunge Protection Team is doing this on a regular basis to forestall a panic and wild runs on investment banks. Now because of the direct consequences of deliberate policies enacted by the Fed and the big investment banks like JPMorgan Chase, Citibank, Bank of America et al, most AmeriKKKans find themselves caught between the proverbial rock and hard place extremely similar to what happened in 1928-29. “In 1966, Greenspan, personal friend of Ayn Rand at the time, penned a famous essay on the gold standard entitled ‘Gold and Economic Freedom.’ Interestingly, in it he stated opinions and views of the Crash of ‘29. ‘When business in the United States underwent a mild contraction in 1927, the Federal Reserve created more paper reserves in the hope of forestalling any possible bank reserve shortage. More disastrous, however, was the Federal Reserve's attempt to assist Great Britain who had been losing gold to us because the Bank of England refused to allow interest rates to rise when market forces dictated (it was politically unpalatable). The reasoning of the authorities involved was as follows: if the Federal Reserve pumped excessive paper reserves into American banks, interest rates in the United States would fall to a level comparable with those in Great Britain; this would act to stop Britain's gold loss and avoid the political embarrassment of having to raise interest rates. The ‘Fed’ succeeded; it stopped the gold loss, but it nearly destroyed the economies of the world, in the process. The excess credit which the Fed pumped into the economy spilled over into the stock market triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in breaking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence. As a result, the American economy collapsed. Great Britain fared even worse, and rather than absorb the full consequences of her previous folly, she abandoned the gold standard completely in 1931, tearing asunder what remained of the fabric of confidence and inducing a world-wide series of bank failures. The world economies plunged into the Great Depression of the 1930's.’ So here we have the current Federal Reserve Chairman admitting in a 1966 essay, prior to his involvement with the government and the Fed, that ‘excess credit’ pumped by the Fed into the economy caused a speculative boom that resulted in a crash and then a depression!” BLACK TUESDAY OCTOBER 29th 1929 REVISITED? (TUESDAY OCTOBER 29th 2002) By Richard Lancaster http://www.gold-eagle.com/editorials_02/lancaster102102.html
So now we know the policies of the big investment banks and the private Federal Reserve Bank were responsible for the 1929 crash, the Great Depression in the 1930's as well as the current real estate bubble/crash/credit/monetary crisis. Things do not happen in a vacuum or on their own. This was planned! We are now in a period of stagflation, stagnant wages and rising money supply resulting in increasing costs for consumer goods and services. I guess you’re saying, “Tell me something I don’t already know.” Well, the bad news is, this trend will continue. These policies are designed to facilitate a massive transfer of wealth from the working class to the super rich and help them undermine the social safety nets so more and more AmeriKKKans will end up poorer and poorer. “The fresh emphasis on headline inflation suggests last month’s sharp increase in overall consumer prices will be a concern for policymakers. The rise is being driven mainly by higher energy prices, which climbed 1.4 per cent last month as electricity costs spiked and the price of fuel at the pump breached $3 a gallon. Economists said record oil prices were likely to continue pushing inflation higher, predicting prices could rise this month by as much as 1 per cent to an annual rate of 4.5 per cent. There are also signs that the growing amounts American consumers are spending on fuel is eating into their other household spending at a time when the economy is thought to be weakening. JC Penney, the department store operator, warned on Thursday of a “dramatically” weaker sales, undermining investor confidence.” US inflation reaches 14-month high By Eoin Callan and Krishna Guha in Washington Published: November 15 2007 15:55 | Last updated: November 15 2007 15:55 http://www.ft.com/cms/s/0/583aa7e2-938f-11dc-a884-0000779fd2ac.html Keep in mind the Financial Times newspaper and its Online version out of London are written for the investor class not Joe and Jane Sixpack. Hence they show no sympathy for the plight of working folks whatsoever. The real deal is this, “Economic collapse is one of the final stages of the cabal's overall policy of cultural devastation. Many of their earlier phases of contrived collapse have been largely unseen or ignored by most Americans. But the final economic breakdown--now in its first stages with the bursting of the housing bubble and the collapse of the dollar--are realities U.S. citizens can no longer turn a blind eye to, because many Americans are literally being thrown out on the street through foreclosure and eviction. Through real estate shell games, the super-rich have looted at least $10-$15 trillion from workers. ‘Buy a house with a low interest loan,’ they lied to the workers, ‘and it will rise in value indefinitely.’Workers were swindled into buying property with interest-only loans--or other predatory financing--deluded into believing that with their increased property value they could later refinance to pay off the balloon payments and sky-rocketing mortgages.” Economic Cannibalism http://www.new-enlightenment.com/econ_crash.htm
What can we do? Well start seriously budgeting your money. Cut back on frivolous spending, credit card debt and needless junk. Begin to plan how to reduce your debt load. Start paying attention to foreign news services and alternative news on the Internet, lessen your dependence on the US media for your information. Seek out like minded people and information so you can prepare for the coming economic hard times. Begin to pool your resources and skills. Barter for goods and services with friends, neighbors and co-workers It’s time we reestablished and actualized the notion of community, networking and cooperative living. Most importantly we must not become discouraged, fearful or despondent. Our indwelling Divine Life Force will buoy us up allowing us to tap into the INFINITE CONSCIOUSNESS/WISDOM within us to come up with the ideas, will and strength we will need to survive and thrive amidst the downturns and vicissitudes to come. The coming challenges are merely lessons/tests for us to demonstrate how resilient, resourceful (full of resources from the ONE SOURCE) and powerful we are. Bring it on!

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home