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“You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it.” Dr. Adrian Rogers, 1931- 2005 "The powers of financial capitalism had (a) far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world." Professor Carroll Quigley (Bill Clinton's mentor at Georgetown University), Tragedy and Hope (1966) p. 324.

February 2012

Getting nowhere, very fast: "California has a huge state debt, and Washington has a huge national debt. But that does not discourage either Gov. Jerry Brown or President Barack Obama from wanting to launch a very costly high-speed rail system....While the Spanish government has been subsidizing the passengers on its high-speed rail system, the European Union has been subsidizing the Spanish government. Someone once said that government is the illusion that we can all live off somebody else."

January 2012

Obama on Pace to Borrow $6.2Trillion in One Term—More Than All Presidents from Washington Through Clinton Combined: "President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34)..." See Planned Economy or Planned Destruction?

From Revolution to “Evolution”: "End of empire, an Occupy demand, is part of New Age visionary David Korten’s blueprint for a new economic order. Korten, Club of Rome member who delivered the 1992 Earth Summit keynote address, calls for the existing world economic order to be replaced with a system of bio-regions that are based upon the Earth Charter. The Charter seeks to combine economics with set of religious beliefs in order to achieve 'sustainability'.

     "Korten believes that economic, environmental, and social collapse is necessary before the Earth Charter economy can take root. The person who drives a car, travels by air, wears nice clothes, has a diet which contains meat, or lives in climate controlled housing may as well consider themselves among the greedy.... Korten’s writings are similar to the UN Alliance of Civilizations’ (AoC) planning materials which envision an end of American sovereignty...." See Unity in an Anti-Christian World?

Shocking Charts And Statistics That Prove That America Is No Longer A Wealthy Nation: "Did you know that if you added up all forms of debt in the United States and divided it up equally that every single family in the country would owe more than $683,000?.... #1. During fiscal year 2011, the U.S. government spent 3.7 trillion dollars but it only brought in 2.4 trillion dollars ... #34. The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was created back in 1913."

Around the World on $69 Million in Welfare Funds: Here is one reason we face a collapsing economy!

Vatican urges economic reforms, condemns collective greed: "The Vatican called on Monday for sweeping reforms of the world economy and the creation of a ethical, global authority to regulate financial markets.... An 18-page document from the Vatican's Justice and Peace department said the financial downturn had revealed behaviours like 'selfishness, collective greed and hoarding...adding that world economics needed an 'ethic of solidarity" among rich and poor nations.

      "...the Vatican called on those who wanted to change economic structures to 'not be afraid to propose new ideas, even if they might destabilise pre-existing balances of power that prevail over the weakest.'... The Vatican called for the establishment of 'a supranational authority' with worldwide scope and 'universal jurisdiction' to guide economic policies and decisions. Such an authority should start with the United Nations..." See The U.N. Plan For Global Control

Obama now accused of destroying U.S. economy...on purpose! "...these radicals aim to remake the American financial system with massive government control. 'Red Army'...[exposes] the radical socialist network that seized political power in Washington over decades, shaped Obama's presidential agenda and threatens the very future of the U.S." See Trusting God as Freedom Fades

IMF Advisor: Could See Eurozone 'Meltdown' in 2 Or 3 Weeks: "If they can not address [the financial crisis] in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system. We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world... it will spread everywhere because the global financial system is so interconnected."

EU calls for global tax: "Flanked by German Chancellor Angela Merkel...European Commission President Jose Manuel Barroso said...'we will press for a global financial transaction tax.'...The idea has run into stiff resistance from Canada, the United States, Australia, China and others....The European Union is proposing a 0.1 percent tax in the EU on trading bonds and shares from 2014..." This issue has been discussed and dismissed repeatedly for many years. Such a tax might help the UN deal with its expenses but would certainly not help the global economy.

Coke CEO Says It’s Easier to do Business with Communist China Than With U.S.: "Coca-Cola CEO Muhtar Kent thinks U.S. corporations are at a disadvantage compared to those based elsewhere thanks to America’s labyrinthine tax code, he told the Financial Times in an interview published earlier this week....In the West, he said, 'we’re forgetting what really worked 20 years ago."

Video:  Greece riots: 100,000 fight against harsh cuts in Athens financial crisis protests: "At least three people have been killed during protest in Greece, as rioters set fire to a bank building. Thousands are on the streets of Athens in opposition to harsh spending cuts which are part of a new austerity package aimed at saving Greece from bankruptcy."

Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s Biggest: "Bakken. The name has become shorthand for the entire 8 million acre Williston Basin area of North Dakota and Montana. The United States Geological Service (USGS) made headlines in 2008 when it determined that the formation likely held 4.3 billion barrels of recoverable oil and gas equivalents. Already a kingsize hoard. That's nothing, says Hamm. He’s convinced that the recoverable bounty is more like 24 billion barrels."

The Collapse of Nations...By The hand of corrupt bankers: "...the US Treasury thus far has spent and borrowed about $100 billion from the federal pension accounts. Unless there is a vote on the cash debt extension prior to August 2nd, government will probably have borrowed some $250 billion to $300 billion. ...how will the funds be generated to fulfill the Treasury’s obligation to the pension fund? What happens if on August 2nd if legislation is not passed?" See Strength from God

Obama Administration Spends $17.4 Million to Explore Market for Carbon Credits: "Department of Agriculture (USDA) announced that it has awarded $17.4 million for pilot projects that will begin exploring how to establish a market for greenhouse gas (GHG) credits, a key component of a cap and trade system, to help reduce carbon and other emissions that apparently contribute to global warming....[Al Gore's] Greenhouse gas offsets, often called carbon credits, are a key component of a cap and trade system...."

Russia to Lower U.S. Debt Holdings: "Russia will likely continue lowering its U.S. debt holdings as Washington struggles to contain a budget deficit and bolster a tepid economic recovery, a top aide to President Dmitry Medvedev said Saturday....Russia's financial reserves—which stood at $528 billion as of June 10—are the world's third largest, after China and Japan's." See Deceit, Delusion and the Destruction of America

Obama's Co-Chair Concurs: We Face Most Predictable Economic Crisis in History In About 2 Years: "Simpson added that the tipping point 'will come when the rating agencies find out we have no plan' to seriously address federal spending and the national debt....

     "'This debt and these deficits that we are incurring on an annual basis are like a cancer and they are truly going to destroy this country from within unless we have the common sense to do something about it,' said Bowles....“It may be two years, you know, maybe a little less, maybe a little more. But if our bankers over there in Asia begin to believe that we're not going to be solid on our debt, that we're not going to be able to meet our obligations, just stop and think for a minute what happens if they just stop buying our debt.'" See the opposition: The Grasp of Socialist International (SI)

China ratings house says US defaulting: report: "A Chinese ratings house has accused the United States of defaulting on its massive debt, state media said Friday, a day after Beijing urged Washington to put its fiscal house in order.... The US government will run out of room to spend more on August 2 unless Congress bumps up the borrowing limit beyond $14.29 trillion -- but Republicans are refusing to support such a move until a deficit cutting deal is reached."

The Mexican Paradox: "Last week, gun battles between warring drug cartels in the central Mexican state of Michoacán lasted three days...and took an as-yet undetermined toll in lives.... Last year, Mexico tied Iraq, and was second only to Pakistan, in journalist fatalities....The decapitation of 27 Guatemalan farm hands by the Zetas gang two weeks ago. The 146 corpses discovered in April in mass graves in the state of Durango. The hanging in March of five victims....

     "Yet a funny thing happened on the way to Mexico becoming another failed state. ...In 2010, a year when there were more than 15,000 drug-related killings (up by nearly 60% from the year before), the economy grew by 5.5%—the fastest rate in a decade. The Mexican peso appreciated against the dollar. Inflation was essentially flat....Twenty-two million tourists visited the country."

May 2011

50 Things Every American Should Know About The Collapse Of The Economy: #14 All over America, hospitals that care for the poor...are so broke that they are being forced to shut down.... Only 66.8% of American men had a job last year."

Obama will call for billions in aid to Arab nations: "The aid package, which would unfold over two to three years, would include an estimated $1billion in debt cancellation, $1 billion in loan guarantees and several billion more in financing from multilateral institutions such as the World Bank..." What about America's own dept-ridden economy?

April 2011

20 Facts About Child Hunger and Poverty That Will Break Your Heart: "According to one recent study, approximately 21 percent of all children in the United States were living below the poverty line in 2010. In the UK and in France that figure is well under 10 percent. According to the U.S. Census, the number of children living in poverty has gone up by about 2 million in just the past 2 years." See The Road to Serfdom by Hayek - opposite of Keynes' socialist philosophy)

Obama Underwrites Offshore Drilling: "...the Obama Administration is financing oil exploration off Brazil....The U.S. Export-Import Bank tells us it has issued a 'preliminary commitment' letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount....

     "If President Obama has embraced offshore drilling in Brazil, why not in the old U.S.A.? The land of the sorta free and the home of the heavily indebted has enormous offshore oil deposits.... Americans are right to wonder why Mr. Obama is underwriting in Brazil what he won't allow at home."

Reid, senators talk currency value with Chinese leaders: "The relationship between the United States and China is important for our two nations, but it is also important for the world,' Reid [said].... 'How the United States and China work together on commerce, currency and clean energy will help determine the future health of the global economy.'" See The Grasp of Socialist International (SI)

AFP: George Soros Convenes ‘Bretton Woods II’: "Internationalist billionaire George Soros is holding his international conference April 8 to April 11 at Bretton Woods, N.H., the noted birthplace of the World Bank and the International Monetary Fund, where he plans to 'rearrange the entire financial order'....This 'Bretton Woods II' comes along just as the Trilateral Commission will be meeting at the same time in Washington, D.C.

     "With an apparent goal of creating nothing less than a new global economy, Soros is spending $50 million in New Hampshire to bring together up to 200 academic, business and government policy leaders under his Institute for New Economic Thinking (INET). ...the attendees are to include ex-Fed Chairman Paul Volcker, former British Prime Minister Gordon Brown and World Bank executive and Nobel Prize winner in economics Joseph Stiglitz.... Soros chose this site because he expects his proposed reforms to be as radical as those promoted by British economist John Maynard Keynes....

     " Now Soros comes along as the new Keynes to save the day by proposing another miracle solution to our problems, couched in lofty doublespeak such as 'reform,' 'cooperation' and 'equal participation.' Soros is proposing the end of sovereignty as we know it." See The Road to Serfdom (Chapter 11: The End of Truth) by Hayek - opposite of Keynes' socialist philosophy)

Pentagon Art: $600,000 Gurgling Toad Sculpture: "A $600,000 frog sculpture that lights up, gurgles 'sounds of nature' and carries a 10-foot fairy girl on its back could soon be greeting Defense Department employees who plan to start working at the $700 million Mark Center in Alexandria, Va. this fall." See Transforming Art and Empowering Symbols

Hidden Bailout of Unions and Big Corporations in ObamaCare : "...a little-known provision in the national health care law has allowed the federal government to pay nearly $2 billion to unions, state public employee systems, and big corporations to subsidize health coverage costs for early retirees. At the current rate of payment, the $5 billion appropriated for the program could be exhausted well before it is set to expire."

Two George Soros Events Aim to Remake the Financial Order and the Media -- So Where's the Reporting? "Soros wants to begin changing the global economy in one event. In the other, his flunkies want to 'Change the world. Change the media.'...The announced speakers include a lot of prominent lefties, globalists and economists... more than two-thirds of the overall total have ties to Soros....Soros will also be speaking in Bretton Woods about 'The Emerging Economic and Political Order.'

     "Just down the road in Boston, a Soros-funded media conference is trying to manipulate that emerging order as well. Close to 350 left-wingers from a variety of organizations are gathering there for the National Conference for Media Reform...” See The Grasp of Socialist International (SI)

March 2011

February 2011

Thomas Sowell: Reckless Spending: "Nothing more clearly illustrates the utter irresponsibility of Barack Obama than his advocacy of 'high-speed rail.' The man is not stupid. He knows how to use words that will sound wonderful to people who do not bother to stop and think....High-speed rail may be feasible in parts of Europe or Japan, where the population density is much higher than in the United States. But, without enough people packed into a given space, there will never be enough riders to repay the high cost of building and maintaining a high-speed rail system. [Might our leaders be expecting large migrations from different parts of the world -- including China? See the first part of this upcoming, unfinished article: America's Perilous Partnership with China]

Is Egypt Hopeless? "With a third of the population employed by the state, Egypt may be past the tipping point that allows a modern economy to grow. ...In Egypt, the percentage of the working population employed by the state is 35%. In Turkey, it's 13%. ...The economic literature is vast on the smothering effects of large, inefficient public sectors. If Egypt is now exhibit A for these studies in torpid economies, then exhibits B, C, D and E would be Jordan, Yemen, Tunisia and Algeria, the other nations that erupted the past several weeks. In Jordan nearly 50% of the employed population works for the state. This is an economy?

     "...past some tipping point of a population employed by the state, an economy starts to choke. Egypt is far past that point....The U.S. is hardly the place Egypt should look for an answer. Public-sector costs have driven New York, California and New Jersey to the edge of the fiscal cliff....

     "Amid the current crisis, Mr. Mubarak decreed a 15% wage and pension increase for public workers. Decades of U.S. governors and mayors did the same thing, poisoning local markets." See Smiling at Socialism

Chinese company officials meet with leaders of Idaho, energy firms: "The Chinese-government owned company, called Sinomach for short, is itself a sign of the growing economic and industrial strength China now projects worldwide.... Zhang Chun, director general of the company told state officials the United States represents a big market for Sinomach ... The visit underscores the changing face of energy development in Idaho, as well as the interest Chinese companies have in both business and investment here."

January 2011

China on Our Minds: "China’s economic might has grown, however, it has refused to open its markets to Western goods, has kept its currency artificially low (to make Chinese exports even stronger) and has shamelessly appropriated Western patents and other forms of intellectual property for its own domestic use while paying little or no compensation. Even while it has sought to join Western-oriented organizations such as the World Trade Organization and the Group of 20 leading nations, it has refused to play by the same rules."

Let 'em go bankrupt: (Thomas Sowell) "...the amount of money it would take to keep the poor from starving in the streets is chump change compared to how much it would take to keep on feeding unions, subsidized businesses and other special interests....Letting armies of government employees retire in their 50s, to live for decades on pensions larger than they were making when they were working, costs a lot more than keeping the poor from starving in the streets."

Cheap electricity gone with the wind: "The Obama administration is changing the way wind energy projects in the American Midwest are financed by 'spreading the costs' to consumers and businesses in other states, possibly doubling or perhaps tripling energy bills in the region in the coming years." See False or Politicized Science

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Previous links on this topic at Economy 1 (2007-2008)  and Economy 2 (2009-2010)

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