Friday, February 24, 2012

Gathering Economic Storm Front

image source
Charlie McGrath, Contributing Writer
Activist Post 

Is it time to panic?  If you listen to the current administration, then the answer is, No. Things are getting better, and an 8.3% unemployment rate proves it. 

With the exception of Ron Paul,  the GOP candidates  seem to be more concerned with reproductive choice and lowering gas prices.  In fact, the rhetoric from both 'teams' is about what we'd expect, being that we're headlong into political playtime. 

Looking at the world through twisted prism of the mainstream may leave you feeling that things are a bit challenging, but under control.   But nothing could be further from the truth. We have a gathering storm front, and it promises to be a vicious storm indeed.

The fact that US military expansion is not the number one story nightly by Western media is utterly amazing.  Ron Paul works hard at every opportunity to show how military projection is not only destroying our country financially, but also in the eyes of much of the world we are rapidly turning into the freedom-hating, terror-loving fanatics we claim to be fighting.  

This world perception of the U.S. is with good reason: 900 bases in over 100 countries is one reason, but the constant beating of the drums of war is nearly deafening to the rest of the world, yet is barely mentioned on the nightly news or in one of the neverending GOP debates, unless it is in the context of how we need more war.   

Iraq, Afghanistan, Pakistan, Libya, Somalia, Nigeria, Uganda, Yemen, Syria, and the list keeps growing.   Iran seemed to have sealed its fate when announcing the end of support of the petro dollar, but of course the public is told it is because they hate freedom, Israel, rights, women, Democracy, Christians, puppies, anything and everything but the truth -- control over the region’s energy resources.

If the tension over the threat of war is bad, then the economic condition of the planet is catastrophic.    Countless billions have been spent, swelling 'sovereign' debt globally to save Big Banks from loss; bringing an end to representative Government to most of the world -- that is, of course, unless you can pay to be represented. 

Yes the Dow crossed 13,000 -- doubling since 2009 -- and of course things must be better, because we are creating jobs, bringing the unemployed rate to just over 8% right?  That's the impression one would get if one was gullible enough to buy into the propaganda.  Well not only has the Dow doubled, but so too has the number of folks needing food stamps to feed their families;  and, the fact is, it is easy to lower the unemployment rate, just use an eraser.  Reduce the participation rate to near four-decade lows and call it job creation. In fact, if we used the participation rate advertised when Obama took office, we would have a U3 number of over 11% unemployed.  

Other indicators show we are indeed heading directly into a super storm.  One example, the Baltic Dry shipping index recently hit a 25-year low, falling 60% in the first 2 months of this year alone.  Even though oil is trading at $100+ a barrel, shipping costs are the same today as 1986. 

Perhaps the most ominous sign that geo-political and economic storms are combining to create the perfect storm is that there seems to be a mass exodus of super-elite from high-level positions.  Just a few of the recent announcements of the rats fleeing the ship include the resignations of World Bank CEO, Zoellick; Anz Bank CFO Australia; Nicaraqua Central Bank President, Rosales; Credit Suisse Chief, Joseph Tan; German President, Christian Ruff; Royal Bank of Scotland, Australian CEO, Stephen Williams; Kuwait Central Bank CEO; Slovenia’s two largest banks' CEOs; Bank of India CEO, Chaturvedi; and there are even rumors that Lord Blankfein is thinking of hanging it up.  

Are all these folks who are doing 'God’s' work getting out of the way of a soon-to-be very unhappy planet, when the average Joe Six-Pack wakes up and realizes he has been totally sold down the river and is now looking for some payback?  

Batten down the hatches, folks, we are headed into uncharted waters and it promises to be a rough ride.

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Anonymous said...

I have no doubt Blankfein is doing his god's work. Problem is, his god is not the God of the Bible. It is the antithesis. That would put him in league with the antichrist

Anonymous said...

I hate to be a crabby appleton, but according to John Williams' Shadow Government Statistics the real unemployment rate is closer to 23% if one includes long-term discouraged workers, who were defined out of official existence in 1994.

Seriously, unless one's brain has been reduced to one synapse that only fires on alternate Thursdays, how could anyone believe what the mainstream media are reporting about the economy?

ChasVoice said...

Breaking News! Documents Reveal US Fed Reserve & Timothy Geithner Engaging in Criminal Activities

Anonymous said...

Interesting choice of picture for this article, since crows generally leave before any major storm starts. Using the crow to represent doom or the end is old hat. Now days they are used as a symbol of resistance as they stand up and fight against predators like the owl and the hawk. Of which are the symbols of well you know what...

Anonymous said...

all doom and gloom from Mcgrath. Does anyone know his credential? Is he an economist? A licensed financial officer? Or just someone who regurgitates old news?

Please not lower your standards.

Anonymous said...

The Corvids are entirely opportunistic. Waiting biding time they let the major predators play wasting energy and time. The crow/raven will always flush out the gold ring.

chiller said...

You don't HAVE to be an economist to see what McGrath is saying is the honest truth. You HAVE to be shill and a moron if you come here, slam a writer who is perfectly correct and expect someone to actually agree with you.

Not A Moron

Anonymous said...

Just as you don't have to be a dentist to recognise rotten teeth, you don't have to be an economist to recognise where the economy's gone rotten.

Anonymous said...

@ Charlie,
The ultimate human right is life itself.
Killing babies is not a legitimate "reproductive choice."

Anonymous said...

A series of economic shocks is crippling the economy. The fianal death stroke is the rising cost of oil which translates into higher cost of gasoline and diesel fuel at the pump. That causes a chain reaction from the producer, processor, wholesaler to the retailer in form of higher prices and the over all cost of living. Most people are going to have to reduce and limit spending only on necessities. That will also have a further effect on the economy. This recovery or the stabalization of the economy from the recession that the arm chair economist which are part of the propaganda machine of the establishment and of international finance, are telling the American people with their rhetoric that is based on false reporting by the news media which part of the same establishment. The truth is that the higher energy cost is going to stall-out any real recovery of the economy and will throw it into free fall. It is not in their best inerest to tell you the truth because they don't want to cause a panic. They wan't you to keep spending and drive yourself all the way to the poor house. It reminds me of the speach Herberto Hoover gave, when he said that prosperity was just around the cornner and there would be a chicken in every pot. I also failed to mention that the higher cost of gasoline and diesel cause the over-all cost of living to increase because everything has to be transported to the market place.

Anonymous said...

Anonymous said...

The problem with statistics is if half the people disagree with what's being claimed, you can rig it so the other 75% do.

Anonymous said...

"Does anyone know his credential? Is he an economist? A licensed financial officer?"

Considering that the economists and licensed financial officers nowadays are mostly crooks/criminals who lie through their teeth to the public, I don't think I want to get the news from them.

Anonymous said...

my point chiller is that every one and their mother is running around screaming that the sky is falling. Yeah....most can see that and those that do not...choose not to believe the hype because that's all it is. Mcgrath and others have been calling for the collapse for years now. That's all they do. They are mouthpieces and not activist (people that take action).

I don't listen to people anymore that just regurgitate old news and offer their genuine speculation...which is generally worthless.

None of the "big mouth" propagandists (rense, rivero, jones, icke) have done anything to unite people or discover the truth. its all bullshit...sensationalism...anything that sells. I do my own research and over the years I realize that 99% of the people are basically "full of it" and don't have a clue either. Not that they care, they are smart enough to make money on fools that except what they say as gospel, and follow blindly.

Have fun with that chiller.

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