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Hosea 4:6 My people are destroyed for lack of knowledge…

Archive for February 19th, 2009

A Day of Reckoning for the USA

Posted by truthpills on 2009/02/19

By Norm Lowry

“The foundation of all Mental Illness is the unwillingness to experience legitimate suffering.” Carl Jung

February 18, 2009 “February 18, 2009 “Information Clearing House” — Lately, I have been inordinately baffled. The combined government & media sources of the world tell the tale of whole countries sitting on the edge of fiscal insolvency; civil unrest now becoming commonplace; starvation & suicide deaths soaring; staggering rises in unemployment; food shortages; rising threats & escalating wars. In my country (USA), the stories are the same…maybe 46 of 50 States, 80% of US cities & 2 of 3 US banks are fiscally insolvent; likely 1 of 5 workers unemployed or working part-time (due to lack of suitable employment); home foreclosures up 80% in 2008 (worse yet expected in 2009); the rise in homelessness expected to soon use up available resources; up to 1 in 6 go to bed hungry; likely 40% of States discussing possible secession options & Federal Government committing to unconstitutional use of US troops to quell expected civil disobedience or to enforce US sovereignty over the States. In spite of all of this, the majority of my fellow citizens seem to believe that we will somehow just be okay; that we are somehow more honorable & moral than everyone else.

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Obama — The President of Special Interests

Posted by truthpills on 2009/02/19

By Paul Craig Roberts

February 17, 2009 “Information Clearinghouse” — – The Bush/Obama bailout/stimulus plans are not going to work. Both are schemes hatched by a clique of financial insiders. The schemes will redistribute income and wealth from American taxpayers to the shyster banksters, who have destroyed American jobs, ruined the retirement plans of tens of millions of Americans, and worsened the situation of millions of people worldwide who naively trusted American financial institutions. The ongoing theft has simply been recast. Instead of using fraudulent financial instruments, the banksters are using government policy.

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G.M. To Cut 47,000 Jobs While Chrysler Will Dump 3,000 Positions

Posted by truthpills on 2009/02/19

Tuesday February 17, 2009
CityNews.ca Staff

One thing is certain about the plan top officials at GM and Chrysler have come up with for restructuring and staving off bankruptcy – it’s going to come with a huge price tag both monetarily and from the workforce.

The two companies had until Tuesday to justify the multi-billion dollar bailouts being given to them in the U.S.

And late in the day, General Motors delivered the news that will make auto towns like Oshawa and St. Catharines cringe. The world’s biggest car company says it will need between US$16.6 and $30 billion in federal aid to get back on all four wheels – and it will have to shed a startling 47,000 positions to do it. It will also close five plants but won’t say which ones.

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No TARP Can Mend the Economy Now

Posted by truthpills on 2009/02/19

Posted: February 18 2009
By: Bob Chapman

credit barely available, watch the fabric of our nation disappear due to policy, More money for the wealthy, more debt for everyone else, long time now since the top of the market, a purge should be part of the financial solution. expect a metals breakout,the promised change has not arrived,the reality of the stock market today is grim, SEC continues to work for Wall street and play down criminality

The masters of the universe flashing their Ivy League degrees and their doctorates led us to believe that there was nothing they couldn’t handle. They told us they had the experience and academic qualifications to reflate any unfolding bust. The result over the past 20 months has left us further in the hole than when we started.

Credit is barely available to the vast majority of borrowers and at usurious rates considering what banks are paying the Fed to borrow funds. Financial, monetary and economic solutions have not worked. The policy is the Treasury and the Fed throw money and credit at the mess they’ve created. All they have done is bail out the banking, brokerage and insurance communities to the detriment of everyone else. How can we expect the people who caused the problem to solve it? This is the group that created the greatest policy blunders of all-time. They have proven they are not masters of the universe, but boneheads.

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