theeconomiccollapseblog.com
On Friday, headlines across the United States declared that "unemployment remains unchanged at 9.6%". Many analysts rejoiced and heralded this announcement as a sign that we have hit bottom and that things will be turning around soon. But is that the truth? A closer look at the unemployment numbers reveals some disturbing facts. For example, according to the Bureau of Labor Statistics, a broader measure of unemployment that includes workers that have stopped looking for work rose sharply to 17.1%. But that is not the only troubling sign from this past week. Agricultural commodities continue to skyrocket, which means that food price increases are on the way. The foreclosure "robo-signing" crisis continues to escalate, and that threatens to throw the entire mortgage industry into a state of absolute turmoil. Meanwhile, the U.S. national debt continues to grow and wealth continues to leave the United States at a dizzying rate.
So is there reason for optimism?
No, not really.
Even if the unemployment numbers had improved slightly, the longer-term trends for unemployment are extremely troubling as you will see from the statistics and the chart below.
At the same time when so many Americans are out of work or can barely get by on what they are currently making, there is every indication that prices are about to go up. Wheat, corn and soybeans all jumped in price on Friday, and it is inevitable that at some point these price increases will be passed on to consumers. And if that wasn't bad enough, now some Federal Reserve officials are actually talking about purposely generating more inflation in order to "stimulate" the U.S. economy.
Meanwhile, this "robo-signing" foreclosure crisis threatens to escalate totally out of control. Will we soon see thousands of court cases popping up from coast to coast challenging the legitimacy of foreclosure paperwork? Will title insurers start totally backing off from foreclosed properties? Banks were already completely overwhelmed trying to process the massive backlog of foreclosures. Is this going to make the situation a whole lot worse?
The truth is that more bad news for the U.S. economy comes out almost daily now. The following are 10 things that you need to know about the latest econ0mic numbers....
1 - Gallup's measure of unemployment, which is not adjusted for "seasonal factors", showed a sharp increase in September. According to Gallup, unemployment has increased from 8.9% in July to 9.3% in August and to 10.1% in September.
2 - The seasonally-adjusted Alternate Unemployment Rate compiled by Shadow Government Statistics shows that the real unemployment rate in the United States is worse than it has been ever since the economic downturn began. The Alternate Unemployment Rate calculated by SGS reflects estimated "long-term discouraged workers", which the U.S. government stopped keeping track of back in 1994....
3 - The number of Americans working part-time jobs "for economic reasons" is now the highest it has been in at least five decades.
4 - 15.8% of Americans between the ages of 18 and 29 were unemployed during the month of September.
5 - Agricultural commodities continued to move higher on Friday. Wheat, corn and soybeans all saw their prices soar. Unfortunately for American consumers, this is part of a broader trend of rising agricultural commodity prices. As this continues, it is inevitable that we will all be seeing much higher food prices at our local grocery stores.
6 - It is being reported that PNC Financial Services Group has suspended the sale of foreclosed homes for the next thirty days. This is the fourth major lender to take dramatic action recently. Will nearly all U.S. mortgage lenders eventually be caught up in this crisis before it is over?
7 - Bank of America announced on Friday that it is now going to suspend sales of foreclosed homes in all 50 U.S. states as it continues to evaluate internal foreclosure procedures. This "foreclosure crisis" threatens to decimate the entire U.S. real estate industry. What has happened is that millions of U.S. mortgages were sold and resold around the globe at lightning speed and the chain of ownership for many of these mortgages become muddied. In addition, it is starting to emerge that many of these lenders used fraudulent loan documents during foreclosure proceedings and company officials often used "robo-signers" to sign important foreclosure documents. So now mortgage lenders, title insurers and those buying or selling foreclosed homes will be facing years of gridlock and chaos as foreclosure-related lawsuits multiply exponentially. All of this is going to have a dramatic effect on the U.S. real estate market. In fact, it is being reported that U.S. home sales are already starting to be affected by this crisis.
8 - The U.S. National debt just keep growing. If you took the national debt and divided it up among all Americans, each American (including children) would owe approximately $42,000. So, for an average family of four, their share of the national debt would be $168,000.
9 - Interest payments on the U.S. national debt increased 13% in the fiscal year that ended September 30th. If interest payments continue to increase that rapidly each year they will bankrupt the U.S. government very quickly.
10 - It appears that some weird games are being played with the national debt numbers. Back on September 29th, the U.S. national debt was 13.466 trillion dollars. On September 30th, the U.S. national debt soared to 13.561 trillion dollars. Then on October 1st, the beginning of the new fiscal year for the federal government, the U.S. national debt jumped up to 13.610 trillion dollars. So how in the world does the U.S. national debt jump by a whopping 144 billion dollars in just two days? Somebody has some explaining to do for this kind of accounting.
The United States was once the wealthiest nation by far on the entire planet.
But now we are in such a rapid decline that it is hard for most Americans to even comprehend it.
We are like that one couple that almost every neighborhood seems to have that has two shiny new cars in their driveway, that dresses in designer clothes and that seems to have plenty of money to take vacations and yet is in debt up to their eyeballs.
The truth is that the United States keeps getting poorer every single month. The term "trade deficit" is not very sexy, but it is critically important to understand if you want to comprehend what is happening to the U.S. economy. Every month tens of billions of dollars more wealth goes out of the United States than comes into it. We are continually getting poorer.
To cover up our declining national wealth, we have gone into staggering amounts of debt. We have maintained our lavish standard of living by piling up staggering amounts of debt on the national, corporate and consumer levels.
The sad reality is that the U.S. government is not the wealthiest government in the world any longer. Rather, it is the government that is the most in debt. The U.S. national debt is the biggest debt that the world has ever seen, and it grows larger every single day.
We can't keep up this charade forever. At some point it is going to stop.
When this house of cards does come tumbling down, do you think that the American people are going to be pleased to learn that our leaders have squandered our once great wealth and have destroyed the greatest economic machine that the world has ever known?
View Original Article HERE
Saturday, October 9, 2010
Will Christians Take The MARK of the BEAST?
Some churches already implementing it?
Vaccinate or FEMA Camp?
Vaccinate or FEMA Camp?
Evidence Refutes BP's and Fed's Deceptions
by Dahr Jamail and Erika Blumenfeld
Global Research
In August, Truthout conducted soil and water sampling in Pass Christian Harbor, Mississippi; on Grand Isle, Louisiana; and around barrier islands off the coast of Louisiana, in order to test for the presence of oil from BP's Macondo Well.
Laboratory test results from the samples taken in these areas show extremely high concentrations of oil in both the soil and water.
These results contradict consistent claims made by the federal government and BP since early August that much of the Gulf of Mexico is now free of oil and safe for fishing and recreational use.
The samples taken were tested in a private laboratory via gas chromatography.
The environmental analyst who worked with this writer did so on condition of anonymity and performed a micro extraction that tests for total petroleum hydrocarbons (TPH). The lower reporting limit the analyst is able to detect from a solid sample is 50 parts per million (ppm).
A water sample from inside Pass Christian Harbor, Mississippi, taken on August 13, contained 611 ppm of TPH. Seawater that is free of oil would test at zero ppm of TPH.
A soil sample containing tar balls from the beach on Grand Isle, Louisiana, taken on August 16, contained 39,364 ppm of TPH.
A water sample taken on August 16 from a pool of water on Casse-Tete Isle contained 57 ppm of TPH. The GPS coordinates for this and the following samples are 2907.603N, 9020.395 W.
Several soil samples were tested from an oil-covered beach on the island.
A sample of soil taken from this area contained 40,099 ppm of TPH. Much of the marsh grass was stained black and brown with oil.
A sample of marsh grass in this area of Casse-Tete Isle contained 144,700 ppm of TPH.
A water sample taken from a tide pool on West Timbalier Isle on August 16 contained 11 ppm of TPH. The GPS coordinates for this and the following samples are 2903.389N, 927.033W.
Disturbingly, despite these results and a continuance of fish kills along the Louisiana coast, the National Oceanic and Atmospheric Administration has recently partnered up with BP to send personnel into middle schools in Louisiana in order to convince school children that Gulf seafood is safe.
Meanwhile, several recent massive fish kills continue to occur in other areas of Louisiana.
A water sample taken from an inland lagoon on West Timbalier Isle contained 521 ppm of TPH.
Sampling was also conducted on beach areas of West Timbalier Isle on the same day.
A soil sample containing tar balls contained 40,834 ppm of TPH.
A soil sample taken near a layer of tar on the beach of West Timbalier Isle contained 60,068 ppm of TPH.
A soil sample taken from another inland lagoon on West Timbalier Isle contained 4,506 ppm of TPH.
Open Water in Gulf of Mexico
After leaving the area, Truthout came across a large area out in the Gulf of Mexico, approximately five miles from shore, where emulsified white foam covered the surface.
Fishermen and other journalists across the Gulf have reported to Truthout that this phenomenon is what is left after dispersants have been used to sink surface oil.
A water sample from surface of this area contained 11ppm of TPH. It was taken from an open water area between Timbalier Isle and Port Fourchon at 3:00 PM, on August 16 and the GPS coordinates for the sample are 2902.871N, 9017.421W.
The US Coast Guard claims that no dispersants have been used since mid-July.
Jonathan Henderson, with the nonprofit environmental group Gulf Restoration Network, was on board to witness the sampling, as well as to conduct his own sampling and document what he found.
The hydrocarbon tests conducted on the samples taken by this writer only represent a tiny part of the Gulf compared to the massive area that has been affected by BP's oil catastrophe. A comprehensive sampling regime across the Gulf, taken regularly over the years ahead, is clearly required in order to implement appropriate cleanup responses and take public safety precautions.
View Article With Pics HERE
Global Research
In August, Truthout conducted soil and water sampling in Pass Christian Harbor, Mississippi; on Grand Isle, Louisiana; and around barrier islands off the coast of Louisiana, in order to test for the presence of oil from BP's Macondo Well.
Laboratory test results from the samples taken in these areas show extremely high concentrations of oil in both the soil and water.
These results contradict consistent claims made by the federal government and BP since early August that much of the Gulf of Mexico is now free of oil and safe for fishing and recreational use.
The samples taken were tested in a private laboratory via gas chromatography.
The environmental analyst who worked with this writer did so on condition of anonymity and performed a micro extraction that tests for total petroleum hydrocarbons (TPH). The lower reporting limit the analyst is able to detect from a solid sample is 50 parts per million (ppm).
A water sample from inside Pass Christian Harbor, Mississippi, taken on August 13, contained 611 ppm of TPH. Seawater that is free of oil would test at zero ppm of TPH.
A soil sample containing tar balls from the beach on Grand Isle, Louisiana, taken on August 16, contained 39,364 ppm of TPH.
A water sample taken on August 16 from a pool of water on Casse-Tete Isle contained 57 ppm of TPH. The GPS coordinates for this and the following samples are 2907.603N, 9020.395 W.
Several soil samples were tested from an oil-covered beach on the island.
A sample of soil taken from this area contained 40,099 ppm of TPH. Much of the marsh grass was stained black and brown with oil.
A sample of marsh grass in this area of Casse-Tete Isle contained 144,700 ppm of TPH.
A water sample taken from a tide pool on West Timbalier Isle on August 16 contained 11 ppm of TPH. The GPS coordinates for this and the following samples are 2903.389N, 927.033W.
Disturbingly, despite these results and a continuance of fish kills along the Louisiana coast, the National Oceanic and Atmospheric Administration has recently partnered up with BP to send personnel into middle schools in Louisiana in order to convince school children that Gulf seafood is safe.
Meanwhile, several recent massive fish kills continue to occur in other areas of Louisiana.
A water sample taken from an inland lagoon on West Timbalier Isle contained 521 ppm of TPH.
Sampling was also conducted on beach areas of West Timbalier Isle on the same day.
A soil sample containing tar balls contained 40,834 ppm of TPH.
A soil sample taken near a layer of tar on the beach of West Timbalier Isle contained 60,068 ppm of TPH.
A soil sample taken from another inland lagoon on West Timbalier Isle contained 4,506 ppm of TPH.
Open Water in Gulf of Mexico
After leaving the area, Truthout came across a large area out in the Gulf of Mexico, approximately five miles from shore, where emulsified white foam covered the surface.
Fishermen and other journalists across the Gulf have reported to Truthout that this phenomenon is what is left after dispersants have been used to sink surface oil.
A water sample from surface of this area contained 11ppm of TPH. It was taken from an open water area between Timbalier Isle and Port Fourchon at 3:00 PM, on August 16 and the GPS coordinates for the sample are 2902.871N, 9017.421W.
The US Coast Guard claims that no dispersants have been used since mid-July.
Jonathan Henderson, with the nonprofit environmental group Gulf Restoration Network, was on board to witness the sampling, as well as to conduct his own sampling and document what he found.
The hydrocarbon tests conducted on the samples taken by this writer only represent a tiny part of the Gulf compared to the massive area that has been affected by BP's oil catastrophe. A comprehensive sampling regime across the Gulf, taken regularly over the years ahead, is clearly required in order to implement appropriate cleanup responses and take public safety precautions.
View Article With Pics HERE
Medical Director: “Desperate need” for health services in lower Plaquemines — 33% of children suffering “physical, mental or behavior problems because of the spill”
floridaoilspilllaw.com
Two doctors work Monday to Friday at the Ochsner Health Services clinic in Belle Chasse, which opened in June and added a family practice doctor two weeks ago.
“There is a desperate need for service in lower Plaquemines Parish,” said Dr. Yvens G. Laborde, regional medical director for Ochsner.
The CHF [Children's Health Fund] pediatrician will fill a critical need, he said.
A survey of parents this summer found that one-third of the children in the hardest-hit areas had physical, mental or behavior problems because of the spill.
View Related Video:
View Original Article HERE
Two doctors work Monday to Friday at the Ochsner Health Services clinic in Belle Chasse, which opened in June and added a family practice doctor two weeks ago.
“There is a desperate need for service in lower Plaquemines Parish,” said Dr. Yvens G. Laborde, regional medical director for Ochsner.
The CHF [Children's Health Fund] pediatrician will fill a critical need, he said.
A survey of parents this summer found that one-third of the children in the hardest-hit areas had physical, mental or behavior problems because of the spill.
View Related Video:
View Original Article HERE
Soaring Prices Threaten New Food Crisis
Financial Times
By Gregory Meyer in New York and Javier Blas in London
Fears of a global food crisis swept the world’s commodity markets as prices for staples such as corn, rice and wheat spiralled after the US government warned of “dramatically” lower supplies.
An especially hot summer in the US, droughts in countries including Russia and Brazil and heavy rain in Canada and Europe have hit many grain and oilseed crops this year. This has raising concern of a severe squeeze in food supplies and a repeat of the 2007-08 food crisis.
It warned of a “much tighter supply picture” for corn and barley, the two main feedstocks used to fatten cows, sheep, pigs and poultry.
Shares in some of the world’s biggest meat packers tumbled. US-listed Tyson Foods fell 7.7 per cent. Shares in other food producers also declined.
“I think we have a food crisis right now,” said Hussein Allidina, head of commodities research at Morgan Stanley.
In Chicago, the prices of agricultural commodities jumped so sharply that they hit limits imposed on daily movement by the city’s futures exchange, the biggest in the world.
Traders, unable to use futures contracts because of the limits on trading, bid indicative corn prices to $5.65 a bushel in the options market, a rise of 13.3 per cent on the day.
The rise in prices sent the Reuters-Jefferies CRB commodities index to a two-year high.
The USDA shocked traders by forecasting in its monthly report that the country’s corn farmers would harvest about 12.7bn bushels in the 2010-11 crop year that started in September. This is down 4 per cent from the USDA’s previous estimate.
The drop would slash the country’s stocks to 900m bushels, the lowest level since 1996-97. The USDA also cut wheat and soya production estimates.
“This revision highlights that we are in a very fragile supply and demand situation,” said Abdolreza Abbassian, senior economist at the UN Food and Agriculture Organisation in Rome.
The US is the world’s largest corn grower and its exports make up the majority of global trade in the grain. The USDA had earlier forecast a record corn crop this year but a combination of unfavourable heat and heavy rains forced a re-evaluation of yields.
The fall in supplies has prompted countries such as Russia and Ukraine to impose export restrictions on grains.
Big importers in the Middle East and North Africa have started to hoard supplies, which has further tightened the market.
By Gregory Meyer in New York and Javier Blas in London
Fears of a global food crisis swept the world’s commodity markets as prices for staples such as corn, rice and wheat spiralled after the US government warned of “dramatically” lower supplies.
An especially hot summer in the US, droughts in countries including Russia and Brazil and heavy rain in Canada and Europe have hit many grain and oilseed crops this year. This has raising concern of a severe squeeze in food supplies and a repeat of the 2007-08 food crisis.
It warned of a “much tighter supply picture” for corn and barley, the two main feedstocks used to fatten cows, sheep, pigs and poultry.
Shares in some of the world’s biggest meat packers tumbled. US-listed Tyson Foods fell 7.7 per cent. Shares in other food producers also declined.
“I think we have a food crisis right now,” said Hussein Allidina, head of commodities research at Morgan Stanley.
In Chicago, the prices of agricultural commodities jumped so sharply that they hit limits imposed on daily movement by the city’s futures exchange, the biggest in the world.
Traders, unable to use futures contracts because of the limits on trading, bid indicative corn prices to $5.65 a bushel in the options market, a rise of 13.3 per cent on the day.
The rise in prices sent the Reuters-Jefferies CRB commodities index to a two-year high.
The USDA shocked traders by forecasting in its monthly report that the country’s corn farmers would harvest about 12.7bn bushels in the 2010-11 crop year that started in September. This is down 4 per cent from the USDA’s previous estimate.
The drop would slash the country’s stocks to 900m bushels, the lowest level since 1996-97. The USDA also cut wheat and soya production estimates.
“This revision highlights that we are in a very fragile supply and demand situation,” said Abdolreza Abbassian, senior economist at the UN Food and Agriculture Organisation in Rome.
The US is the world’s largest corn grower and its exports make up the majority of global trade in the grain. The USDA had earlier forecast a record corn crop this year but a combination of unfavourable heat and heavy rains forced a re-evaluation of yields.
The fall in supplies has prompted countries such as Russia and Ukraine to impose export restrictions on grains.
Big importers in the Middle East and North Africa have started to hoard supplies, which has further tightened the market.
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