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Archive for February 5, 2012

The Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show That Is Coming

“The people out there that believe that the U.S. economy is experiencing a permanent recovery and that very bright days are ahead for us should have their heads examined. Unfortunately, what we are going through right now is simply just a period of “hopetimism” between two financial crashes. Things may seem relatively stable right now, but it won’t last long. The truth is that the financial crisis of 2008 was just a warm up act for the economic horror show that is coming. Nothing really got fixed after the crash of 2008. We are living in the biggest debt bubble in the history of the world, and it has gotten even bigger since then. The “too big to fail” banks are larger now than they have ever been. Americans continue to run up credit card balances like there is no tomorrow. Tens of thousands of manufacturing facilities and millions of jobs continue to leave the country. We continue to consume far more than we produce and we continue to become poorer as a nation. None of the problems that caused the crisis of 2008 have been solved and we are even weaker financially than we were back then. So why in the world are so many people so optimistic about the economy right now?”

Via The Economic Collapse Blog

Categories: economic collapse, Economy

Tennessee begins to push back against NDAA tyranny

“Tennessee, the Volunteer State, has begun to push back against the tyranny that is the indefinite detention provisions contained in the National Defense Authorization Act of Fiscal Year 2012, better known simply as the NDAA.

The state bills currently being considered could be one of the most significant steps taken against the atrocious assault on our most essential liberties embodied by the indefinite detention provisions of the NDAA.

The Tenth Amendment Center (TAC), a group promoting states’ rights (something which I think is an honorable cause in these dire times in which we have an increasingly centralized, authoritarian federal government) reports that two bills are to be considered in the Tennessee legislature.

These include HB1629 and SB2669, both of which are set to be considered in the 2012 session.”

Via Activist Post

Cashless Society: Bank of America Refuses Cash for Mortgage Payment


In another example that we appear to be rapidly moving into a cashless society, Bank of America in California refused to accept cash for a mortgage payment. The manager of the bank said it was against their policy to accept legal tender physical currency (aka U.S. dollars) as payment for BoA mortgages.

The customer attempting to pay his mortgage, firefighter Robert Somerton, recorded the ordeal in Lakeport branch which made the bank manager so upset that he called the police. The police detained Somerton for a half hour before releasing him with a warning that he may never return to that BoA branch or he’ll be arrested.

“I was shocked. I had no idea this would happen. Since when does a bank not accept cash?” Robert wrote after the affair.”

Via Activist Post

Categories: Uncategorized
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