This Is What An Economic Depression Looks Like In The 21st Century

Do you want to see what a 21st century economic depression looks like?  Just look at Greece.  Once upon a time, the Greek economy was thriving, the Greek government was borrowing money like there was no tomorrow and Greek citizens were thoroughly enjoying the bubble of false prosperity that all that debt created. Those that warned that Greece was headed for a financial collapse were laughed at and were called “doom and gloomers”.  Well, nobody is laughing now.  You see, the truth is that debt is a very cruel master.  Greeks were able to live way beyond their means for many, many years but eventually a day of reckoning arrived. At this point, the Greek economy has been in a recession for five years in a row, and the economic crisis in that country is rapidly getting even worse.  It was just recently announced that the overall rate of unemployment in Greece has soared above 20 percent and the youth unemployment rate has risen to an astounding 48 percent.  One out of every five retail stores has been shut down and parents are literally abandoning children in the streets.  The frightening thing is that this is just the beginning.  Things are going to get a lot worse in Greece.  And in case you haven’t been paying attention, these kinds of conditions are coming to the United States as well.  We are heading down the exact same road as Greece went down, and the economic pain that this country is eventually going to suffer is going to be beyond anything that most Americans would dare to imagine. All debt spirals eventually come to an end.  For years, Greece borrowed huge amounts of very cheap money, but there came a point when the debt became absolutely strangling and the rest of the world refused to lend the Greek government money at such cheap rates anymore. Greece would have defaulted long before now if the EU and the IMF had not stepped in to bail them out.  But along with those bailouts came strings.  The EU and the IMF insisted that the Greek government cut spending and raise taxes. Well, those spending cuts and tax increases caused the economy to slow down.  Tax revenues decreased and deficit reduction targets were missed.  So the EU and the IMF insisted on even more spending cuts and tax increases. Even after all of the spending cuts and all of the tax increases that we have seen, the debt to GDP ratio in Greece is still higher than it was before the crisis began.  Today, the Greek national debt is sitting at 142 percent of GDP. Now the EU and the IMF are demanding even more austerity measures before they will release any more bailout money. Needless to say, the Greek people are pretty much exasperated by all of this.  They created this mess by going into so much debt, but they certainly don’t like the solutions that are being imposed upon them. Protesters in Greece are absolutely outraged that the EU and the IMF are now demanding a 22 percent reduction in the minimum wage. Most families in Greece are just barely surviving at this point.  Unfortunately, Greece is probably looking at depression conditions for many years to come. Over the past three years, the size of the Greek economy has shrunk by 16 percent. In 2012, it is being projected that the Greek economy will shrink by another 5 percent. Sadly, that projection is probably way too optimistic. Over the past couple of months, it has been like someone has pulled the rug out from under the Greek economy.  Just check out the following numbers from an article in the Telegraph by Ambrose Evans-Pritchard…

Another normal day at the Hellenic Statistical Authority. We learn that: Greece’s manufacturing output contracted by 15.5pc in December from a year earlier. Industrial output fell 11.3pc, compared to minus 7.8pc in November. Unemployment jumped to 20.9pc in November, up from 18.2pc a month earlier. I have little further to add. This is what a death spiral looks like. Can you imagine unemployment going up by 2.7 percent in one month? This is what a 21st century economic depression looks like. And needless to say, civil unrest is rampant in Greece. The following is how a USA Today article described some of the protests that we saw in Greece this week…. Scores of youths, in hoods and gas masks, used sledge hammers to smash up marble paving stones in Athens’ main Syntagma Square before hurling the rubble at riot police. The country’s two biggest labor unions stopped railway, ferry and public transport schedules, and hospitals worked on skeleton staff while most public services were disrupted. Unions were planning protests in Athens and other cities around midday. Greek citizens are exasperated by the endless rounds of austerity that are being imposed upon them.  They wonder how far all of this is going to go. How much higher can taxes go in Greece?  Greece already has tax rates that are among the highest in Europe…. Greece has the third highest rate of VAT in Europe, second highest gas/petrol tax, third highest tax on social insurance contributions, fifth highest VAT on alcohol, highest property tax and one of the worst corporate tax rates, without the quality of living or competitiveness to match.

New Jersey Will Pay You $1000 To Destroy The 2nd Amendment

There is nothing more disgusting or detestable than a citizen informant. Without citizen informants, tyrants could never retain the kind of power they wield. In fact, without citizen informants, totalitarian movements would never gain traction. This is why EVERY functional oligarchy throughout history has implemented programs designed to encourage the development of common spies, using the promise of monetary reward, or collective recognition.

Turn in your neighbor for owning a gun….get $1000 REWARD in Newark, NJ [VIDEO]

Sadly, there are many in our society that would gladly sell out their closest friends and family to the tortures of authoritarian bureaucracy for nothing more than a firm pat on the head and a few fiat dollars. If there was ever a more degraded lot of bottom feeding opportunist scum, the citizen informant is the very epitome.
With the implementation of the “See Something, Say Something” program, and the increasing drive by the White House to institute community watch efforts to route out “extremists”, showcased quite clearly in strategic outlines like the ‘Empowering Local Partners To Prevent Violent Extremism In The United States’: continue reading ‘New Jersey Will Pay You $1000 To Destroy The 2nd Amendment‘, at Global Freedom Technology Firm.

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Rupert Murdoch Lobbies Congress To Restrict Internet

WASHINGTON — News Corp. honcho Rupert Murdoch threw his weight behind Congress’ attempt to restrict the Internet, personally lobbying leaders on Capitol Hill Wednesday for two measures that purport to combat piracy.

Rupert Murdoch

Murdoch’s media empire is among some 350 large corporations that have come out in favor of the Stop Online Piracy Act in the House, as well as the Protect IP Act in the Senate.

Both measures would require Internet operators to police activity online, and would mandate Internet giants like Google and AOL (the parent company of The Huffington Post and an opponent of the bills) and credit card companies to take down sites that have content deemed to be in violation of copyright rules.

The battle has pitted huge content generators like Disney and the motion picture industry against their online competitors, with each side reportedly spending some $90 million on lobbying efforts.

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Supporters say the measures will help curb theft and preserve the integrity of the Internet. Opponents charge that the measures amount to censorship that will stifle innovation and impose higher costs on consumers.

News Corp. owns 20th Century Fox films and many television franchises such as “The Simpsons.” The firm has long lobbied on the issue, donating to members on both sides of the aisle.

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The top 10 conspiracy facts of 2011

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2011 was the year in which many conspiracy “theories” became conspiracy FACTS. Articles that used to earn you a tinfoil hat designation suddenly were front-page news stories across the country. The world is stranger than we can imagine, it seems, and 2011 proved it yet again. Here are the top ten conspiracy facts that emerged over the last year:

 #1 – Obama admits U.S. government used Guatemalan prisoners for illegal medical experiments.

 When we exposed the U.S. government’s long list of medical crimes against humanity back in 2006, the mainstream media was silent (http://www.naturalnews.com/019187.html).

 People insisted the government was ethical and honest, and it could never be involved in crimes against humanity. (ROFL!) When the truth came out about Guatemalan prisoner experiments, however, it went viral so quickly the mainstream media couldn’t whitewash the story. So now, the whole world knows the U.S. government and its National Institutes of Health (NIH) are medical criminals that murder innocent human beings in order to study new drugs for Big Pharma: http://www.naturalnews.com/033483_G…

#2 – FDA caught using KGB-style infiltration and spying techniques to entrap raw milk distribution hub.

 It’s legal to sell unpasteurized orange juice in America as long as you put a label on it, but selling unpasteurized milk earns you the “KGB treatment” from the FDA and the California Dept. of Agriculture, both of which have become criminal gangs running vindictive vengeance campaigns against target innocents. NaturalNews broke the story of how the FDA used spy cameras, secret infiltration techniques and other traps to gather evidence before raiding Rawesome Foods at gunpoint, then destroying $50,000+ in food in front of astonished witnesses. http://www.naturalnews.com/033428_F…

#3 – Institute of Medicine‘s links with military industrial complex exposed by NaturalNews.

 In yet another investigative story that NaturalNews broke in 2011, we dug into the funding sources of the Institute of Medicine and discovered it receives enormous financial support from the Pentagon, military defense contractors and numerous globalist organizations that profit from war. No wonder the IOM promotes vaccines so aggressively — it’s a war against humanity, waged one syringe at a time. Read more: http://www.naturalnews.com/033455_I…

Continue reading ‘Top 10 Conspiracy Facts of 2011‘ at Global Freedom Technology Firm.

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Julian Assange seeks to take extradition fight to supreme court

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WikiLeaks founder will ask permission to appeal against high court ruling that he must face sex crime charges in Sweden.

Julian Assange arrives to speak to Occupy protesters outside St Paul’s cathedral in London on October 15.

The founder of WikiLeaks, Julian Assange, is to apply for a supreme court hearing to appeal against extradition to Sweden to face sex crime allegations.

His solicitor, Gareth Peirce, confirmed he will ask senior judges in London on 5 December to certify that his case should be considered by the highest court in the land. He must establish that his case raises “a question of law of general public importance”.

Assange, 40, lost a high court battle against removal on 2 November but has announced he wants to fight on against a European arrest warrant that has been outstanding since last December.

A supreme court hearing would be the third stage of the 40-year old Australian’s appeal against extradition to face allegations of rape, sexual molestation and unlawful coercion by two women he met on a visit to Stockholm in August 2010.

Assange’s decision means a verdict on whether he should be extradited could be delayed until as late as next summer, legal observers said.

Continue reading ‘Julian Assange seeks to take extradition fight to supreme court,’ at Global Freedom Technology Firm.
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Police Pepper Spray Peaceful UC Davis Students

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On Friday, a group of University of California, Davis students, part of the Occupy Wall Street movement on campus, became the latest victims of alleged police brutality to be captured on video. The videos show the students seated on the ground as a UC Davis police officer brandishes a red canister of pepper spray, showing it off for the crowd before dousing the seated students in a heavy, thick mist.
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This incident recalls the earlier infamous pepper spraying by a New York Police Department official of several women who were seated and penned in. The UC Davis images are further proof that police continue to resort to brutal tactics when confronting Occupy activists. One woman was transported to a hospital to be treated for chemical burns.

“The UC Davis students were peacefully protesting on the quad,” wrote one student who took videos in an email to The Huffington Post. The filmmaker, a senior, asked that his name not be used for fear of retribution by campus authorities. “The cop gave them 3 minutes to disperse before he said they would come and disturb the protest. The main objective for them was removing the tents. … The students did have a right to be on campus, they were assembling peacefully and the campus was open at the time.”

To read more about ‘Police Pepper Spray Peaceful UC Davis Students‘ continue by visiting Global Freedom Technology Firm.

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US Taxpayers Could Pay For European Bailout

The U.S. is coming to Europe’s financial rescue.

Dollars for Euros

So far, America’s role is fairly limited. But if thecrisis continues to grow and the U.S. takes on a wider role, U.S. consumers and taxpayers could feel a bigger impact. The biggest exposure could come from America’s status as the single largest source of money for the International Monetary Fund.

The latest round of American financial assistance came Thursday with a promise by the Federal Reserve to swap as many dollars for euros as European bankers need. In the short run, those transactions won’t have much impact because the central banks are simply swapping currencies of equal value. If the move helps avert a wider crisis, it could help spare the global economy from another recession.

But over the long term, consumers could feel the impact of central bankers flooding the financial system with cash, according to John Ryding, chief economist at RDQ Economics.

Continue reading ‘US Taxpayers Could Pay For European Bailout‘ at Global Freedom Technology Firm.

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Chaos On The Streets Of America

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Should we just expect mass chaos on the streets of America every time a major holiday rolls around? At least 42 people were hit by gunfire in New York City over the Labor Day weekend. The violence got so bad that even the mayor felt compelled to publicly address it. In Chicago, at least 6 people(including a man in a wheelchair) were killed over the Labor Day weekend.

Sadly, this is just a continuation of a trend that we have seen build over the past few years. At the beginning of the summer, there was terrible violence all over America during the Memorial Day weekend. We also saw violence break out during 4th of July celebrations. It appears that wherever large groups of young people gather in America today, there is going to be a very good chance that chaos is going to erupt.

Almost wherever you look, you can see the frustration of the American people starting to boil over. Very few public places seem to be immune.

For example, there have been very disturbing incidents of violence at quite a few NFL games recently. Just check out this video and this video.

There was even one incident recently where coaches and players ganged up to brutally attack a referee during a youth football game in Florida.

What in the world is happening to this country?

People are getting angrier and angrier and they are starting to lash out.

As I have documented previously, there have been a disturbing number of flash mob robberies in the United States this year. When dozens of young people start banding together to loot stores, you know that things are getting bad. Just check out this video of a recent example from the state of Maryland.

When individuals or small groups commit crimes that is bad enough.

But when large groups of people start banding together to commit crimes that is absolutely frightening.

The sad truth is that it is not even safe to take your kids to the state fair anymore. The following is how one local ABC News affiliate described the “flash mob” attacks that took place at the Wisconsin state fair this year….

Milwaukee police said that around 11:10 p.m., squads were sent to the area for reports of battery, fighting and property damage being caused by an unruly crowd of “hundreds” of people. One officer described it as a “mob beating.”

Police said the group of young people attacked fair goers who were leaving the fair grounds. Police said that some victims were attacked while walking. They said others were pulled out of cars and off of motorcycles before being beaten.

Could you imagine your children watching that scene unfold from the backseat of your vehicle?

Could you imagine your wife and your children being pulled out of your vehicle and beaten by rampaging criminals?

Yes, this kind of thing is now happening in the heartland of America.

Even young girls are increasingly participating in violence. Just check out this video of a group of teen girls brutally assaulting a worker outside City Hall in Philadelphia earlier this year.

How in the world did those young girls learn to act like that?

Sadly, that was not an isolated incident. Young women all over the nation have become absolutely brutal. In Minnesota recently, a mob of teen girls beat the living daylights out of a mother and her two daughters until they were black and blue. Apparently the mob of teen girls was enraged over a pair of missing sunglasses.

In America today, the love of most people has grown cold. A growing number of Americans (especially young Americans) seem to have very little empathy for anyone else.

As the economy crumbles, many Americans find themselves doing very low things in order to survive. So far in 2011, dog thefts have increased by 49 percent. These days, people will steal anything of value if it is not bolted down.

What is certainly not helping things is the rampant unemployment all over the nation. Sadly, the younger that you are, the more likely that you are to be unemployed.

According to a recent USA Today article, more than one-fourth of all teens are unemployed at this point….

The unemployment rate for 16- to 19-year-olds ticked up to 25.4% in August from 25% the previous month, the Labor Department said last week. For black teens, unemployment leaped to 46.5% from 39.2% in July. The nation’s jobless rate was unchanged at 9.1%.

But those numbers only tell part of the story. The real picture starts to emerge when you look at how many teens actually do have a job.

Back in the year 2000, more than 50 percent of all Americans teens had a job.

This summer, only 29.6% of all American teens had a job.

So we have a whole lot of teens with a whole lot of time on their hands.

Unfortunately, there just aren’t enough jobs for everyone out there right now. There is intense competition even for the most basic jobs.

The number of Americans with jobs overall continues to decline. For example, the percentage of Californians that are 16 years or older that have a job is the lowest that is has been in over 30 years.

What is even more frightening is that we have just seen another huge wave of layoffs. The following is from a recent CBS article….

It’s been a summer storm of pink slips. Along with Borders, Bank of America, Cisco, Lockheed Martin, and Goldman Sachs have all recently announced mass layoffs.

But a lack of jobs is far from the only reason why the fabric of American society is falling to pieces.

Many believe that another huge reason for all of the chaos on the streets of America is the breakdown of the American family. In 1960, married couples accounted for 75 percent of all households in America. Today, they account for just 48 percent of all households.

Millions upon millions of American children are growing up with only one parent, and that one parent usually has to work so hard that he or she is hardly ever home.

So those kids are being raised by our public schools, by government institutions, by the television, by movies, by video games and by other kids.

Now we are starting to reap what we have been sowing as a society.

Many of our greatest cities have been transformed into rotting war zones. As millions of jobs have been shipped overseas, entire communities have been gutted. Those that remain in these cities find themselves trying to survive in an environment where morality has been thrown out the window.

For example, the following is what one British reporter found during his visit to Detroit….

 

Continue reading “Chaos on the streets of America” at Global Freedom Technology Firm.

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War on drugs produced swollen prisons and little else

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By Zachary Goelman
The opinions expressed are his own.

The vast U.S. criminal justice system is under renewed scrutiny, spurred by two things: the fortieth anniversary of President Nixon’s speech declaring war on drugs, and a recent U.S. Supreme Court ruling that California must reduce its overcrowded prisons because conditions in jail constitute “cruel and unusual punishment.”

Much of the debate focuses on how the former produced the latter. The two were neatly tied together by Neill Franklin, the executive director of Law Enforcement Against Prohibition, and a former Baltimore police officer. Franklin told CNN:

Despite arresting over 40 million people on drug charges since the start of the war on drugs — resulting in huge costs both in terms of dollars and in human lives — drugs today are more available, more potent and cheaper than ever.

Franklin’s words echo a report by the Global Commission on Drug Policy which stated that the forty-year war on drugs has been an unequivocal failure. Former U.S. President Jimmy Carter endorsed this view in a New York Times op-ed piece on the anniversary of Nixon’s drug war declaration.

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These critics share a logic: ineffective drug laws produce little other than an expanding, expensive penal system. A graphic produced by the American Civil Liberties Union presents data of the U.S. prison system, and plainly states, “the war on drugs has helped make the U.S. the world’s largest incarcerator.”

The role and reality of prisons in America is now being contested. Following the Supreme Court ruling on California, other states’ penal systems are under examination. Efforts to ease overcrowding in Nebraska’s prisons, which have hovered near 14o percent capacity for several months, have fallen short of expectations. The Omaha World-Spectator reports that officials in Nebraska hope to see more inmates released on parole:

Bob Houston, state corrections director, remains confident his department can reach a goal of reducing the state’s prison population by 545 inmates, or about 12 percent, over the next two years.

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But does releasing convicts from prison imperil public safety? Data from the U.S. government’s Bureau of Justice Statistics show that of 300,000 prisoners released in 15 states, two-thirds were back in jail in less than three years. Recidivism rates were almost twice as high for those arrested for robbery, larceny, auto theft and other property crimes. A recent study in the Boston Globe found more than a third of dangerous Massachusetts felons sentenced to life in prison and released on parole wound up back in jail in less than three years.

The recidivism rate is one of the key criticisms of the penal system, but it’s by no means the only one. In a Washington Post op-ed, Marc Mauer and David Cole published “Five Myths” about prisons and prisoners in the U.S., pointing out failures of penal justice in the U.S.

Their primary contention: that high incarceration rates haven’t lowered crime. Crime rates have dropped precipitously in the U.S. in the last two decades, in tandem with the ballooning number of convicts behind bars. But Mauer and Cole say that the correlation isn’t causal:

In Canada, for example, violent crime declined in the 1990s almost as much as it did in the United States. Yet, Canada’s prison population dropped during this time, and its per capita incarceration rate is about one-seventh that of the United States.

They point to research that shows, at most, incarceration accounted for a quarter of the decline in crime. What caused the rest of the drop?

Maybe it’s the economy, stupid. Over the last two decades, Americans enjoyed increasing prosperity, especially in the decade of the 1990′s when employment expanded, government revenues rose and GDP climbed higher. The drop in crime across the country turned previously-perceived dangerous cities like New York into tourist Meccas and capitals of residential revitalization.

But then the economy tanked in 2008. The recovery has been slow and painful, and unemployment still hovers at agonizingly high levels, yet crime rates have remained low. “Steady Decline in Crime Baffles Experts,” read a piece in the New York Times.

 

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London riots a pretext for Internet crackdown

Jordan Blackshaw and Perry Sutcliffe-Keenan were two of several demonstrators that were given harsh sentences for petty crimes in the recent UK riots. Another looter got six months for stealing a case of bottled water. Alex Jones, radio host of the Alex Jones Show, tells us why this is a severe overreaction on the UK’s part and how he is not surprised.


Read entire article “London riots a pretext for internet crackdown,” at Global Freedom Technology Firm
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