Daily Truth Pills

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

Archive for September 18th, 2009

Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman

Posted by truthpills on 2009/09/18

By Mark Deen and David Tweed

Sept. 13 (Bloomberg) — Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.

“In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview today in Paris. “The problems are worse than they were in 2007 before the crisis.”
Read the full article

Posted in Economy | Tagged: | Leave a Comment »

R.I.P. Zimbabwe Dollar

Posted by truthpills on 2009/09/18

Steve H. Hanke* Professor of Applied Economics at The Johns Hopkins University and Senior Fellow The Cato Institute

As I wrote on 25 June 2008, “Zimbabwe is in the late stages of a classic hyperinflation. … Inflation is galloping ahead as the supply of Zimbabwe dollars surges and the demand for them shrinks. Eventually, the currency will totally collapse as people simply refuse to accept it.” In recent months, facts on the ground have validated this prognostication. The Zimbabwe dollar is dead.
Read the full article

Posted in Economy | Tagged: | Leave a Comment »

President Obama Ridicules God

Posted by truthpills on 2009/09/18

Watch the short clip

Posted in Spiritual | Tagged: | Leave a Comment »

It’s A Cover Up, Not A Recovery

Posted by truthpills on 2009/09/18

“We Are In The Early Stages Of Revolution”

Video

Gerald Celente – the most trusted name in trends – sits down for an exclusive interview with RT’s Anastasia Churkina to talk about what the future holds for America during and after the Great Recession, gives advice to Obama, and forecasts the unexpected.
Watch the short clip

Posted in Corruption, Economy | Tagged: | Leave a Comment »

Who Really Crashed the Economy?

Posted by truthpills on 2009/09/18

Posted by David Korten at Sep 11, 2009 04:15 PM | Permalink

And why do we keep blaming the wrong people?

Mobs disrupt town meetings. Glenn Beck amplifies a careless remark by a mid-level White House staff member into a threat of a national communist takeover. The right wing spin machine creates a parent revolt over a presidential pep talk to students urging them to study hard and stay in school. Meanwhile, the Party of No blocks action on health care and climate disruption with lies and distortions and declares President Obama’s stimulus package a socialist plot and a failed waste of taxpayer money.

There is a common thread. Each of these media events has diverted attention from Wall Street’s responsibility for crashing the economy, taking trillions of dollars in public bailout money, and then rewarding itself with outlandish bonuses.

The Wall Street corporations funding the front organizations that orchestrate these and other diversions hope we will forget that America’s number one problem is Wall Street—and the overpaid Wall Street casino gamblers who destroyed our economy in a reckless test of the theory that markets can self-regulate and that the unrestrained pursuit of individual greed is beneficial to society.

Wall Street’s greatest fear is that the public might demand Congress and the president shut down the casino. Any issue that shifts attention away from Wall Street and pins the blame for job loss and mortgage foreclosures on President Obama works in its favor.
Read the full article

Posted in Economy | Tagged: | Leave a Comment »