[EndOfGrowth]

$this->bbcode_second_pass_quote('NoWorries', 'H')ere's my take:


Shortly put, I understand what the doomers are saying, but I don't see it happening. In fact, the opposite is happening.

[Cog]

I wonder if this is one of those lagging indicators that OF2 goes on about. We are seeing massive numbers of people dropping off of the unemployment rolls(exhausted benefits) and it appears that they end up here. If we are truly seeing a return to prosperity and growth, why is the number of food stamp recipients still going up?


http://www.blacklistednews.com/?news_id=7311

$this->bbcode_second_pass_quote('', 'A') record 38.2 million Americans were enrolled in the food stamp program at latest count, up 246,000 from the previous month and the latest in record-high monthly tallies that began in December 2008.
Food stamps are the primary federal anti-hunger program, helping poor people buy groceries. The Agriculture Department updated enrollment data on Friday with a preliminary figure for November.

USDA estimates up to $58 billion will be spent on food stamps this fiscal year, which ends Sept 30, with average enrollment of 40.5 million people. Food stamps were renamed the Supplemental Nutritional Assistance Program in 2008.

Participation has surged since the financial-market turmoil of late 2008 and has set records each month since December 2008, when it reached 31.78 million. Enrollment is highest during times of economic distress.

[deMolay]

Good one Cog. OF2 would see this as the stimulus working like its supposed to, as the numbers getting help is increasing.

[SeaGypsy]

While it is obvious the US is monetising debt, the rest of the world can't afford for the bluff to be called. So the debt clock will continue to roll, inflation will continue to eat away the real value of the $ and nobody will do anything about it. The temporary stall in inflation to do with the EU crisis is just that. The EU is sliding into the abyss of debt and unrealistic consumer expectations just as the US is; only lagging a little. High value currencies will continue to be chipped away at while Asian currencies gain ground. The US and EU still have a very long way to fall, while Asia still has a very long way to grow.

[MarkJ]

$this->bbcode_second_pass_quote('Cog', 'I')f we are truly seeing a return to prosperity and growth, why is the number of food stamp recipients still going up?

[Buggy]

This article nails it. The bankers better watch their backs and live it up in the mansions my taxes paid for, because they are going to hang and burn. I attached some of the article in case the link goes dead.

http://theeconomiccollapseblog.com/arch ... all-street

$this->bbcode_second_pass_quote('', 'I')f you are part of the Wall Street establishment, the economic recovery is moving along quite well. Many of the biggest firms on Wall Street just handed out record-setting bonuses, the Stock Market has been moving up steadily and the DOW is back up to around 11,000. Profits at the top banks have been quite impressive lately. Bank of America, JPMorgan Chase, Citigroup and Wells Fargo combined for first quarter profits of $13.4 billion - the most in almost three years. Yes, life is quite good down on Wall Street these days. People are still buying fast cars, big yachts and homes in the Hamptons. It is almost as if "the greatest financial crisis since the Great Depression" didn't even happen. Things are quickly getting back to "normal" for the banking elite and to many it seems like there are a lot more smiles down on Wall Street than there have been in a long, long time.

Bank of America’s chief executive officer, Brian T. Moynihan, is being quoted by Reuters as saying that "the worst of the credit cycle is clearly behind us" and that the economic growth we are experiencing is "real".

JPMorgan CEO Jamie Dimon is quoted as saying that the U.S. economy may be poised for "a strong recovery".

And why wouldn't they say these things? Profits are up. Their stock portfolios are up. They are getting record bonuses. They know that if anything does go wrong again that their friends in Washington D.C. will bail them out because they are "too big to fail".

But for tens of millions of other Americans, the economy seems like it is getting worse than ever. It is hard to explain the gut-wrenching agony that many highly-educated and highly-qualified American workers are going through as they send out hundreds of resumes only to get no response. Or the absolute frustration of only being able to get a very low paying retail job and realizing that it will not even be able to pay the mortgage - much less support an entire family. Or the soul-crushing despair of working two or three jobs and still not being able to pay the bills at the end of the month.

But these are the daily realities that millions of Americans must face now. The truth is that there are not nearly enough jobs for everyone. The number of unemployed Americans per job opening hit 5.5 in February. It is like we are all caught in some bizarre game of musical chairs, and the losers end up destitute and out in the street.

[gollum]

I always hope the revolution is right around the corner, but I'm not sure if the American people have it in them anymore.

[Buggy]

$this->bbcode_second_pass_quote('gollum', 'I') always hope the revolution is right around the corner, but I'm not sure if the American people have it in them anymore.

[mos6507]

$this->bbcode_second_pass_quote('gollum', 'I') always hope the revolution is right around the corner, but I'm not sure if the American people have it in them anymore.

[Rod_Cloutier]

I saw a German movie with subtitles tonight called 'Lets make money'. Although released in 2009, the film still seemed a little dated with all the financial scandals since its release, yet the film still had some shocking tidbits of information that left me stunned. See link:

http://festival.sundance.org/2009/film_ ... make_money

Entire cities were built along the coastlines of Spain leading up to the 2008 financial collapse, where 10's of thousands of apartments, dozens of hotels, sprawling suburb housing units complete with pools and golf courses all sitting at ZERO percent occupancy, but 100% sold. These housing units were built solely as collateral by foreign investors who never had any intention of living in them. The suburbs were built in the desert complete with 80 new golf courses, each golf course requiring enough water for a human population of 20,000 to maintain. The houses had more FINANCIAL value on the books if they were located near golf courses, so does it matter that no one in Spain likes to golf? (less than 3 percent of Spain's population participate in golf). Also, none of the housing is affordable to people who actually live there. The immigrant labour that built and maintain the structures live in shanty towns outside these grand but unoccupied cities, completely unable to even dream of ever affording to live in these places.

The entire thing is fraud on a massive scale. The houses, apartments, hotels, ect have no domestic resale or occupancy value in Spain, but they are valued on foreign bank sheets as assets worth hundreds of thousands, to millions of dollars each!? Watching the film was like a bizarre dream seeing entire brand new cities sitting completely empty, completely devoid of people, just so foreign investors can get equity loans based on real estate fraud.

The film had some other interesting points, but this fiasco in Spain was the real kicker that I hadn't heard of before.

[dolanbaker]

$this->bbcode_second_pass_quote('Repent', 'I') saw a German movie with subtitles tonight called 'Lets make money'. Although released in 2009, the film still seemed a little dated with all the financial scandals since its release, yet the film still had some shocking tidbits of information that left me stunned. See link:

http://festival.sundance.org/2009/film_ ... make_money

Entire cities were built along the coastlines of Spain leading up to the 2008 financial collapse, where 10's of thousands of apartments, dozens of hotels, sprawling suburb housing units complete with pools and golf courses all sitting at ZERO percent occupancy, but 100% sold. These housing units were built solely as collateral by foreign investors who never had any intention of living in them. The suburbs were built in the desert complete with 80 new golf courses, each golf course requiring enough water for a human population of 20,000 to maintain. The houses had more FINANCIAL value on the books if they were located near golf courses, so does it matter that no one in Spain likes to golf? (less than 3 percent of Spain's population participate in golf). Also, none of the housing is affordable to people who actually live there. The immigrant labour that built and maintain the structures live in shanty towns outside these grand but unoccupied cities, completely unable to even dream of ever affording to live in these places.

The entire thing is fraud on a massive scale. The houses, apartments, hotels, ect have no domestic resale or occupancy value in Spain, but they are valued on foreign bank sheets as assets worth hundreds of thousands, to millions of dollars each!? Watching the film was like a bizarre dream seeing entire brand new cities sitting completely empty, completely devoid of people, just so foreign investors can get equity loans based on real estate fraud.

The film had some other interesting points, but this fiasco in Spain was the real kicker that I hadn't heard of before.

[Buggy]

It's been a while so I don't have a link, but I saw a bit on an empty towns being built in China as well.

[Kristen]

Fraud has been around since the beginning of time, unfortunately not on such a global scale.

[Ludi]

$this->bbcode_second_pass_quote('gollum', 'I') always hope the revolution is right around the corner, but I'm not sure if the American people have it in them anymore.

[Buggy]

$this->bbcode_second_pass_quote('Ludi', '')$this->bbcode_second_pass_quote('gollum', 'I') always hope the revolution is right around the corner, but I'm not sure if the American people have it in them anymore.

[gollum]

$this->bbcode_second_pass_quote('Ludi', '')$this->bbcode_second_pass_quote('gollum', 'I') always hope the revolution is right around the corner, but I'm not sure if the American people have it in them anymore.

[AgentR]

$this->bbcode_second_pass_quote('gollum', 'I') always hope the revolution is right around the corner, but I'm not sure if the American people have it in them anymore.

[Ludi]

$this->bbcode_second_pass_quote('gollum', 'N')ow if it were to get traction and have a reasonable chance of success I'd sure hop on. How about you Ludi?

[Ludi]

$this->bbcode_second_pass_quote('AgentR', '
')
We gotta nip this BS in the bud, and it doesn't start with the "them", it starts with the "us".

[Rod_Cloutier]

A revolution is unlikely to happen. The perpetual onslaught of television and radio propoganda will ensure the public stays docile.

You can imagine people who still believe were living in the 60's, or 70's, because all the tv they watch are reruns from these times! Would you revolt against the police when your favorite tv show is Barney Miller re-runs? Would you revolt against the status quo when you believe the world is still like the peaceful 'Happy Days'? Who would question the sanctity of the banks after watching 'Its a wonderful life' again?

A collapse will however happen as the Western way of life becomes more and more unsustainable.