SECOND GREAT DEPRESSION BY JULY!
AND IT WILL BE FAR WORSE THAN THE FIRST
BY BRETT ANNISTON
WEEKLY WORLD NEWS
JUNE 6, 2005
(Deborah's Note: Some people may dismiss information in the Weekly World News as fictional. Considering all that I observe happening in the U.S.A. with the relocation of millions of Americans' jobs to foreigners overseas and illegal aliens and green card aliens taking so many millions more of Americans' jobs plus the information in the Internet articles I received about an economic collapse, a Second Great Depression sounds very real to me. Below I'm putting some quotes from the Weekly World News article. Below those quotes, I'll give some wise advise about preparing for a Second Great Depression. Then portions of the Internet articles about an economic collapse are shown.)
"The Council of Economic Advisors has delivered a secret report to President Bush warning that the United States is on the brink of a Second Great Depression, due to arrive in mid-July!"
"An economic tsunami is about to slam into America, warned top Wall Street financial analyst Susan Lurkowitz, who has multiple contacts on the council."
"According to the council's projections 3.2 million Americans will starve to death within the first year of the Second Great Depression - and 68 millon more will perish in the social upheaval spawned as our country falls aprt."
"We project a profound Depression that lasts up to 28 years."
"Some of the horrific predictions found in the report: Widespread business failures will leave 80% of Americans jobless; As large banks collapse like dying stars, they'll call in all loans, including mortgages - turning millions of Americans into homeless wretches; Somalia-type famine will sweep the nation as both family farms and giant agri-business firms go belly-up; Enormous mobs of looters, numbering in the thousands will ravage citiies and towns too bankrupt to pay police; With citizens unable to afford medicine, the spread of diseases - including many not seen for centuries - will be rampant, epidemics of cholera, TB, polio, even the bubonic plague are expected."
"Despairing Americans will turn their backs on the church, returning to pagan religions and even selling their souls to Satan."
"Also, sales of assault rifles will skyrocket as homeowners try to protect their dwellings from "wolf packs' of starving, disease-ridden crazies, Lurkowitz predicted. I'm advising all my clients to invest in the gun industry."
(Deborah's Note: It would be wise for anyone that has any land or yard space where they can plant a garden to do so. It would be wise to plant fruit trees and nut trees. It would be wise to advise other people in your city to do such planting also. I'm referring to more than just your nearby neighbors. If you belong to any groups, such as churches or other organizations, advise people at those groups about a coming Second Great Depression and that if they have any land or yard space about doing such planting also. Everybody that can plant should do so abundantly to be able to have more than their family needs. There are already lots of disabled and elderly people that don't have sufficient food, because their income is below poverty level, that would appreciate gifts of such fresh produce. Some people live in locations where they can not plant a garden, such as apartments with no yard space or a landlord that doesn't allow them the freedom to plant.
Churches and civic groups should find many locations where community gardens can be planted. Healthy people could work in such community gardens for a share of the fresh produce. Implement security measures as needed to make sure the workers get their share of the produce from such community gardens. Here are some suggestions of locations for such community gardens: church yards, school yards, city parks, national parks, vacant government owned land, privately owned vacant land that the owners allow to be used for community gardens. To give people the knowledge they need about how to do gardening, communities could offer free gardening classes at churches and schools. Organic gardening is the best type of gardening.
Some people that become homeless may have families they can move in with. For the ones that don't, more homeless shelters are needed. Many cities have built recreation centers which they didn't really need. The recreation centers should be turned into homeless shelters. With a united effort, the worst case scenario of so many people losing their lives may possibly be prevented.)
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RENOWNED FUNDS MANAGER SEES
GLOBAL ECONOMIC COLLAPSE
by Al Martin
(May 30) There was an interview on CNBC of the renowned funds manager Julian Robertson. He is one of the greatest of the old-timers. 53 years on the Street. He manages the Robertson group of funds. They used to call him, still do call him 'Never Been Wrong' Robertson. He has predicted every economic cycle, every debacle, every bull market, and every bear market.
Robertson was actually a teary-eyed, an old man. When Ron Insana asked him about his predictions, he said that he's worried about the speculative bubble in housing and the fact that more than 1/4 of all consumer spending is now sustained by that bubble, plus the fact that 20 million citizens could lose their homes in a collapse of the speculative bubble in housing, and that the Fed and, indeed, central banks worldwide would act in concert out of desperation to reinflate the global economy in the process, creating an inflationary spiral unheralded in the economic history of the planet.
Insana then asks, "Where does it end?" And he said, "Utter global collapse." Not simply economic collapse; complete disintegration of all infrastructure and of all public structures of governments. Utter, utter collapse. That the end is collapse of simply epic proportion.
In 10 years time, he said, whoever is still alive on the planet will be effectively starting again.
And the comments were so negative. I've never heard anything like it. From a guy who was 53 years on the Street. This is Julian Robertson, the renowned Republican. And yet he blamed everything on 'the Bushonian Cabal,' that the Cabal has now consolidated power and money on the planet to the maximum extent possible. That the planet's net liquidity-that is, net free cash flow-is now a negative number. That the planet is not simply sinking into a sea of red ink; it is already sunk. The people just don't realize it yet.
The enormity of it was such that he said that the Bush Cheney regime-calls them 'the Bush Cheney regime' (I swear this guy must listen to me) the Bush Cheney regime is preparing the nation for transition from democracy into dictatorship because a dictatorship that will be necessary to control, not civil unrest. That isn't what he said. He said that it will be necessary to control, in 5 years' time, food and water riots. He said the federal government, that part of Patriot II Act, the internal exile, that the government is going to have to build now huge detention compounds on federal lands, probably in the West where the land is available, to potentially house 50 million or more citizens that will be in financial ruin. Food production will fall. And any further effort to control environmental destruction will be abandoned. Inflation will run into the double and eventually triple digits.
*Total collapse of public infrastructure. Total collapse of medical care systems.
*All public pension plans, Social Security will collapse. All corporate pension plans will collapse. I've never heard anything like it. But he backed that up with some fabulous statistics that I have pointed out before in various articles. What he did is did it all in literally one statement literally. But, 14% of all real estate transactions now being interest-only mortgages, and another 14% of people now, that, when they bought their homes, originated more than 100% of the purchase price in the mortgage and then borrowed further. This was on the Ron Insana show on May 24, 2004. I mean, it was absolutely extraordinary. And he had pointed out all what we have ointed out before. What he talked about is he globalized it a lot more than I have in the past by saying that the American consumer is effectively now supporting the rest of the planet, which is true; that consumption rates in all other nations are falling, have fallen to the point that the tax revenues to governments, that the business and industries those nation states are providing is now a net negative number relative to total debt service and public cost, that this exists in virtually every nation state on the planet now.
And he pointed out, more importantly, and I'm trying to think how we imply this or how we express this to the people, what extraordinary times we are living in and how the destruction of the planet has been engineered by the Bushonian Cabal from 1980 to 1992, and then from 2001 to present, which has effectively destroyed the economic liquidity of the planet.
When Insana asked him, you know, he said he had sold all of his real estate and he was moving into one of the new super-secure compounds for wealthy Republicans for when the 'barbarians will be at the gate.' He said, "Ron, those barbarians will be potentially a third of the American population."
Ron asked, "What are your friends doing?" The implication being wealthy Republicans. And, this is interesting, he said everyone that he knew that had a home worth more than a million dollars in the United States has sold it. They have sold all of their landholdings. They have liquidated all U.S. securities. They have bought a townhouse or something in one of the new ultra-high secure semi-secret Republican compounds with the barbed wire and the machine guns. And then they also own a home, like, in the Cayman Islands or somewhere in the Caribbean. He spoke of the new Republican high-security compounds that are being built throughout the Caribbean, and even in Switzerland. And this what he points to: He said the new wave, or where the wealthy Republicans are going in their housing - and he's right. It tells you much about what the wealthy Republicans think of where this planet is going: that they all want to live in these ultra-high security communities that haven't even been built yet. And we're talking about not simply the guards at the gate. We're talking about communities the security of which have never been built before. He's referring to is these new gated communities that are being built with the 18-foot high walls and the machine-gun-toting guards and underground food lockers, cryogenic food lockers, and their own power plants, their own water. But it bespeaks volumes of where the top 10% of the nation feel the planet is going. The only thing that keeps popping into my mind is - what is it going to look like in ten years time?
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PROTECTING THE PLUTOCRATS
by Mike Whitney
www.dissidentvoice.org
May 26, 2005
The United States military is a fully owned subsidiary of the corporate and financial establishment. It plays no role in defending the American people. The function of today's military is to seize the world's dwindling resources through force of arms and provide a taxpayer funded security apparatus for multinationals and energy giants. The notion that the $500 billion per year Goliath is designed to protect the American people is sheer lunacy. Its real purpose is to win wars of aggression, siphon off the wealth of foreign nations, and crush the subsequent resistance movements. Anything else is purely public relations pabulum.
This is utter nonsense. The military is remaking itself to meet the requirements of its corporate overlords whose directives are scrupulously carried out by their ambassador, Rumsfeld. This explains why there has been no serious effort to rebuild either Iraq or Afghanistan. The corporate leadership stubbornly refuses to give away goods or services without suitable remuneration. This is an article of faith among the uber capitalists in the political establishment. The military is a business, a fact that is shockingly apparent by the dismal results in Iraq. The recent announcement by the Pentagon that it plans to close 33 bases and 180 military installations within the US is much more serious than many Americans realize.
Apart from the withering effect that this will have on small communities that depend on these bases for their economic survival, there's an even more significant reason to be concerned. The announcement indicates that the Pentagon is shifting its resources from stateside facilities to permanent bases sprinkled throughout Central Asia, the Middle East and Southeast Asia. This is just more proof that the administration plans to sacrifice the needs of the American people to solidify its global hegemony.
In other words, the military is being outsourced to the locations where it can protect the vital interests of corporate elites. This spells trouble for the American people who've already seen their army overextended and hobbled in Iraq. Now they can see first-hand that national security is only of minor importance to the ruling body. With bases shutting down and 40% of America's National Guard serving in Iraq the American people are clearly less safe than they were four years ago; this at a time when the threat level from Washington's unprovoked wars is at an all time high. At present, the military is used exclusively to serve the interests of a small cadre of elites. No American citizen is served by either the fiasco in Afghanistan or the debacle in Iraq. In fact, we are all at much greater risk because of these policies.
The announcement of closures is an interesting counterpoint to this month's jobs report. American jobs are being outsourced faster than America's military. As Paul Craig Roberts reports in Counterpunch, "of the 256,000 (jobs created) in the private sector" fully "211,000 of these were in the service sector." This trend has continued throughout the Bush years. It shows that the Bush economy is not producing any of the high-paying, high tech jobs that will sustain the middle class life that Americans have come to expect. The downward trajectory is steep and inexorable, held together by the slender thread of low interest rates and moderately cheap gasoline.
When the time is right, Greenspan will boost interest rates and the middle class will slip beneath the waves without a whimper. This may explain why Bush and Co. are pilfering everything they can, including $450 billion in deficits every year and zillions sluiced off to friends in no-bid Iraqi contracts. The carpet bagging will undoubtedly continue until every last dime is drained from the public till or until the blinking red light goes on, signaling it's time for the American plutocracy to board the ships for Costa Rica. No one will be surprised if they take the military with them either. After all, it's become little more than a resource for safeguarding the citadels of personal corruption.
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Sincerely,
Deborah Reid
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