Posts in "Depression"

By Jihan Huq at 8:53PM

Dec 14, 2009

"Welcome To Obamaville: Colorado's Fastest Growing Community" Reads Homeless Camp Sign

Signs This story broke in Colorado Springs, Colorado, where residents found this controversial sign at a homeless camp. Colorado's station KRDO was first to break the story, and now the station has made a "public appeal for information" on who the originator was.

Though Spencer Swann of Colorado Canyon Signs admits to the contruction of the sign, he refuses to inform the media whom he built it for. Since then, Swann has replaced the sign with a "Please help. We need firewood, propane and canned food" sign. Though public perception of the sign was mixed, Swann said: "I've had 100 calls today, and not a single one of them was negative." He also claimed that the originator is a person who is devoted to the homeless cause, stating: "He gives them money, he gives them food, he gives them support."

Great sign. I just wish there was a smiliar one during the Bush administration.

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By Bonnie Kristian at 11:53AM

Oct 24, 2009

Ron Paul on the recession: 'None of this is behind us'

The Hill has a new article explain Ron Paul's view on our economic woes, his assignment of blame to the Federal Reserve, and his conviction that Wall Street is still "a shaky place to be." Read it here.

Trends researcher Gerald Celente agrees, predicting that "the worst is yet to come."

Dubbed as the world's greatest trends forecaster by CNN, USA Today and CNBC, Celente insists that despite the latest market bounce, and increase in consumer confidence, the economy's fundamentals are broken.

Read his explanation for why we should not expect anything more than a fleeting, false recovery any time soon here.

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By Matt Cockerill at 6:48PM

Oct 21, 2009

Non-Austrian Economists Are Befuddled

Regarding phony exuberance over the 10k dow, I think genuine confusion, rather than an attempt at propaganda, is the motive of this over-the-top media coverage. This confusion was best summed by a fascinating article written by Paul Krugman several weeks back analyzing the flaws in establishment economic schools. Krugman conceded that Neo-Keynesian and Chicago School methodologies were deeply flawed, given their total inability to forsee the current crisis.

Perhaps I'm a bit naive, but I think that when the economy sours again and the dollar depreciates to new lows -- and I'm certain it will -- the Austrian School will have a real opening in the resulting intellectual climate.

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By Aaron Ricks at 12:05PM

Oct 3, 2009

HAPPY BIRTHDAY, TARP!

One year ago today, a bill was signed into law by President George W. Bush that would:

provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, to amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purpose.

Make sure you mark this momentous occasion with jubilant glee. Presents to TARP will be collected by your local IRS agent. And this is not an option.

TARP

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By Bonnie Kristian at 12:04PM

Aug 14, 2009

Is the worst still to come?

Gerald Celente of the Trends Research Institute says yes:

Conditions will continue to deteriorate. The global economy is terminally ill. The recession is in a brief remission, not the early stages of recovery. Cheap money, easy credit and unrestrained borrowing brought on an economic crisis that cannot be cured by monetary and fiscal policies that promote more cheap money, easy credit and unrestrained borrowing.

Nevertheless, Washington will continue to intervene, tax and exert control. Protests will escalate and riots will follow.

The numbers seem to agree:

Weekly initial unemployment claims are ascending again, up 4,000 from previous week, to 558,000. Details.

Obama is absolutely right.

A recent news article reports:

"Reckless actions by a few have fueled a recession that spans the globe," Obama said of the meltdown that began in the United States with a tumble in housing prices and drastic slowing of business lending. The downturn now threatens superpowers and emerging nations alike.

"Reckless actions by a few," indeed. Those few being...oh, I don't know...Bernanke, Paulson, Bush, Geithner, and Obama, to start with a very limited list.

Thanks to LewRockwell.com for the link.

Rewrite the Codes

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By Ryan Gilroy at 12:44PM

Jun 15, 2009

Graduation Day

I only graduated from college a little over a month ago, and unfortunately, given the ongoing government-induced depression, this cartoon is more fitting than ever: