Search This Blog

Friday, September 16, 2011

Economic Collapse News Headlines - Big time inflation coming our way

Isn't it amazing how a purely US problem (the Sub - Prime crisis of 2008) has now ballooned to become a worldwide ECONOMIC CATASTROPHE with problems everywhere, especially in Europe. And the warnings of 'DANGEROUS NEW PHASES' keep coming? Who wants to bet that the problem will be bigger in 6 months not smaller? So are these modern day Shylocks trying to save the Global Economy or are they simply after their pound of flesh that National governments have promised them in exchange for Debt that the citizens neither asked for, nor did they benefit from the massive levels of Debt now on the books of almost all governments, especially the US and Western European countries.

And witness how Central Banks walk lockstep, much to the detriment of the citizens of their own countries. There already is a Defacto World Government in place, run by the international banking community. All National Governments jump to the commands of these bankers, trampling the rights of their own citizens and destroying the future of their countries for generations, condemning them to a life of enslavement through DEBT that benefits few if any of the citizens of any nation. Now these Central Banks are promising UNLIMITED LIQUIDITY to private banks! In layman's terms this means that the Central Banks of G-7 countries have promised to put their citizens into UNLIMITED DEBT to save a few private banks. You have just signed on to an UNLIMITED DEBT; good to know that we are so creditworthy that we can be offered UNLIMITED DEBT except we don't get to spend the money, they do! A life of champagne and caviar for the bankers and politicians, a life of servitude and AUSTERITY for you and your children and your grandchildren and their children....but why think about such mundane matters, there is a good football match this weekend and 'Dancing with the stars is on, and American Idol, and Oprah says we just have to think positive and we will have billions like she does...

European and US stocks surge on news that world banks will flood markets – but Lagarde warns of 'dangerous' new phase
 Fears of a deepening of Europe's debt crisis have prompted the world's leading central banks to pump US dollars into the financial system, in a co-ordinated action designed to boost market confidence.
The Bank of England joined the US Federal Reserve, the European Central Bank, the Swiss National Bank and the Bank of Japan on Thursday to announce that they would flood money markets with dollars over the coming months.
The move, on the third anniversary of the collapse of the US investment bank Lehman Brothers, sent shares soaring in banks heavily exposed to debt default by Greece and the other struggling members of the 17-nation eurozone. The euro, which had been falling in recent days, rebounded, rising roughly 1% in European trading on Thursday.
Speaking in Washington, Christine Lagarde, the president of the International Monetary Fund, said: "They [the banks] are getting together and acting together. To me, that is the most important message."
Lagarde warned that more action was needed.
"We have entered into a dangerous phase of the crisis," she said. There is still a path to recovery, Lagarde said, but it is a "narrow" one. Read More

Report: Mortgage default warnings spiked in August, signaling potential new foreclosure wave
Alex Veiga, AP Real Estate Writer, On Thursday September 15, 2011, 12:29 am EDT
LOS ANGELES (AP) -- Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures.
The number of U.S. homes that received an initial default notice -- the first step in the foreclosure process -- jumped 33 percent in August from July, foreclosure listing firm RealtyTrac Inc. said Thursday.
The increase represents a nine-month high and the biggest monthly gain in four years. The spike signals banks are starting to take swifter action against homeowners, nearly a year after processing issues led to a sharp slowdown in foreclosures. Read More

 Published: Thursday, 15 Sep 2011 | 8:37 AM ET By: staff and wire

Applications for unemployment benefits continued to rise in the past week, while inflation pushed higher and a key manufacturing index weakened.  Read More

Consumers paid more for gas, food, rent and other items in August, raising inflation
Christopher S. Rugaber, AP Economics Writer, On Thursday September 15, 2011, 9:28 am EDT
WASHINGTON (AP) -- Consumers paid more for a range of goods and services last month, pushing up inflation and squeezing Americans' purchasing power.
The Consumer Price Index rose 0.4 percent in August after jumping 0.5 percent in July. The core index, which excludes volatile food and energy prices, rose 0.2 percent.
For the 12 months that ended in August, the core index surged 2 percent, the biggest year-over-year increase in nearly three years. That's at the high end of the Federal Reserve's informal inflation target. It could limit the central bank's ability to take further steps to try to revive the economy.

No comments:

Post a Comment