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Web-site/URL: http://news.yahoo.com/s/huffpost/201003 … ost/514851
This means that the financial crisis IS STILL GOING STRONG. A FINANCIAL crisis is defined as a lack of SPENDING which leads to a lack of REVENUE, whether we're talking about B2B or B2C sales/transactions and it's certainly true for the family being featured in this article.
Fish, Aren't you forgetting something in your statement defining a financial crisis?
You forgot about the lack of essential borrowing under this debt system.
This in turn leads us to examine the tightening of lending by the banksters.
Revenues depend on spending which creates jobs. Spending depends on borrowing, ie; credit cards and other loans. borrowing depends on the banksters willingness or ability to lend.
The bankster's fractional banking debt monetary system, has pretty much killed our manufacturing base of old. We have become a service economy, which is bailed out occasionally by the military/industrial complex and it's reliance on wars, to place a temporary band-aid on our gaping wound of an economy. Meanwhile, the fat cats get richer on the backs of the indebtedness of the middle class.
The American dream began it's decline when the congress gave control of our monetary system to the federal reserve. Check any of the historic economic data such as the growth of our national debt, our foreign trade deficit, our taxes and our cost of living.
This is why most families have a hard time treading water, even with two breadwinners working full time.
We will hear the contrarians talking about living beyond our means, but in reality, if we don't borrow, we lose our current medium of exchange. It's fraud on the people, by the banksters, through deception and control.
Wow jerryl--you explain that better than anyone I've ever read! Very astute and to the point.
Freaking shameful,and criminal.
Article from Canada Free press, by Damon Frabel.
by fishskinfreak20087 years ago
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by fishskinfreak20088 years ago
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Paul Krugman:" Back in 2010, self-styled deficit hawks — better described as deficit scolds — took over much of our political discourse. At a time of mass unemployment and record-low borrowing costs, a time...
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As an American, do you still believe in living ''The American dream''????Though I am not an American, I have always felt driven by the slogan 'living the american dream'. But in recent years with all that is happening...
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