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Disasters Can Happen

Are Experts Expecting Another Attack on American Workers ? Will You Be One Of Them?

by MN Gordon

Economic Prism

Labors with No Fruits

It’s been a long row to hoe for most workers during the first 17 years of the new millennium.  The soil’s been hard and rocky.  The rewards for one’s toils have been bleak.

For many, laboriously dragging a push plow’s dull blade across the land has hardly scratched enough of a rut in the ground to plant a pitiful row of string beans.  What’s more, any bean sprouts that broke through the stony earth were quickly strangled out by seasonal weeds.  Those ‘green shoots’ that persisted bore pods that dried out on the vine before maturity.

This has been the common experience of the typical 21st century American worker, thus far. Countless, stories of labors with no fruits have been shared at bowling alleys across the Bible Belt.  There are also hard numbers that backup these woeful tales.

Just (Read More....)

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Manna from Heaven

Hopeby MN Gordon

Economic Prism

Modern day monetary policy’s something we disparage around here at the Economic Prism. Relegating what price to set the key lending rate to a cadre of unelected technocrats is a contradiction of life in a free society. That’s how we see it, at least.

Make of it what you will. But we think willing lenders and borrowers can agree on a fair rate of interest on an individual basis much better than Janet Yellen and her fellows can dictate for all. For their part, the Fed’s made a great mess of their efforts to remake the world in their image.

When the stock market crashed on October 19, 1987, newly appointed Fed Chairman, Alan Greenspan took monetary policy in a new direction. He seized the day and planted (Read More....)

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Skeletons in the Closet

Caution Of The Timesby MN Gordon

Economic Prism

Just when the mainstream press thought they had a solid theme to report, something unexpected happened. No one quite knows what’s going on for sure. But the economy’s popular storyline appears to be drifting off plot.

The general consensus since late last year has been that the U.S. economy is moderately improving while the world’s other major economies – Japan, China, and Europe – are becoming weak like an over breaded meat loaf. Until a few weeks ago things were rolling forward according to script.

The presumed strength of the economy was finally pushing the Fed to raise the federal funds rate (Read More....)

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From Bad to Worse in a Big Way

Oil From Pixabayby MN Gordon

Economic Prism

Just when it appeared that a $50 per barrel floor had been put under the price of oil, something unexpected happened. The price of oil dropped over 2 percent to about $48.74 a barrel. What’s more, it could fall much, much further…

“A rally in crude-oil prices halted last week after U.S. data showed that domestic crude inventories are at their highest in about 80 years,” explained the Wall Street Journal.

In other words, not since 1935 – the middle year of the Great Depression – has there been such a glut in U.S. oil. Moreover, a weekly report from Morgan Stanley remarked that forthcoming U.S. data on supply and drilling are “likely to appear ominous.” From what we gather, this most likely means the supply glut will steepen.

Naturally, when there’s an oversupply of something, the price must drop to equilibrate demand. How much further it must drop no one really knows. But we surmise the price of (Read More....)

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A New Deal for the New Millennium

The current economic downturn is often called the worst since the Great Depression. Inspired by the ideas of John Maynard Keynes, 1930s leaders such as President Franklin Delano Roosevelt sought to stimulate the economy by initiating massive construction projects. Today’s economic situation has renewed speculation that a program similar to Roosevelt’s New Deal is called for. How would such an effort look today?

Parallels Between the Current Economic Downturn and the Great Depression

The Great Depression was preceded by an irrational level of stock market speculation, similar to that of the mid-2000s housing market. Both events were accompanied by a banking crisis. Federal Reserve efforts to increase the nation’s money supply were nullified by cautious behavior from consumers and banks on both occasions. Efforts to enact social safety nets and public works projects were opposed in both decades (Read More....)

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Our Real America Crisis!

***The following is a guest article by Alice Maxwell. I think that you are going to find what she has to say to be really eye opening.*** What’s wrong with America, the good old USA? What’s with this Social Security, housing, banks, industry shut downs? Why? Average Joe, including The Plumber, says it is not his fault. It is government taking what he earns, taxing it and then giving it to others who do not earn. Maybe! Our national headaches began in the 1930’s Depression. Wall Street had ceased to be, many of its players having jumped to their deaths, the others suffering it slowly as they watched all investments disappear into nothing! Even gold suddenly was illegal. You turned it in or else. The nation was bankrupt! Patriots were to give their lives to keep it going. We had Public Works Administration then Works Public Administration, Civilian Conservation Corps and still the nation suffered declining losses across the spectrum. Worse, the working population, having saved for its (Read More....)

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We’ve Been Told 6 Lies About The “World Economy”

***The following guest article on The Debt was originally authored by The Coming Depression Editorial Staff (original story here).  We are honored that they have allowed us to feature this great article.  You are really going to enjoy what they have to say.***

We’re fast approaching that time, once again, when the working poor will increasingly be cannon fodder for the wars without end. Those left, will be frightened, increasingly desperate, willing to work for anything. The Corporate agenda- the vision only of the next fiscal quarter.

I think we all believed in the so-called American dream — work hard, play by the rules, get an education and you’ll get ahead. Unfortunately since the 1980s both in the US and here, that dream is fading. Face it folks, we’ve been fed a bowl of platitudes.

1. Reducing corporate taxes will create jobs. Well, Ireland has the lowest corporate tax rate in the OECD at (Read More....)

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